"TheSpark.com plans to eventually provide a variety of features and products geared towards high school students, college students, and young adults," Yagan said.

Poonam Sharma '99, editor of the recently published book The Harvard Entrepreneurs Club's Guide to Starting Your Own business, lauded these four seniors' ability to successfully target a demographic group they are familiar with.

"Recognizing and addressing a demand from within a market they knew they could reach, they have exemplified the entrepreneurial spirit," Sharma said. "They not only worked hard and thought creatively--they had fun while doing it. That is the essence of what it means to be an entrepreneur."

Bolotin said the group is actively soliciting advertisements, and already has spoken with several potential advertisers.

Despite the race for Internet success among young entrepreneurs, the founders of theSpark.com said they have confidence in their product.

"The winner will need a solid combination of content and marketing capabilities," Coyne said. "We have both, and we plan to succeed."