Ananova:

A Cheltenham teenager has reportedly turned down £8.5million to sell his website.

Nick Coates, 17, runs Sharpenews, a global news site aimed at young people, reports the Sun.

It has had 89million hits in 18 months and rakes in £2,500 a month from advertisers.

Several firms have made big offers but Nick insists he doesn’t need the money.

He said: "I could walk away with about £4million - but I'm not interested in that at the moment."

Nick started the site when he was just 12. It now has 70 contributors worldwide and has won awards including website of the year.

He is also studying for four A-levels and even works ten hours a week at a local electrical goods store.