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Internet Entrepreneur Offers Online Booze-Up

Steven Cohn, founder of BuyYourFriendADrink.com, started his business with an “aha” moment: One afternoon, Cohn’s friend called with great news: “I wanted to take him out to celebrate, but he was in Texas… So, when I hung up the phone, I wrote up the business plan.”

That’s how the interactive Web site came about, he told CNBC's Erin Burnett on "Street Signs."

“You just come to our website, you click on the buy a drink button, and you fill out a personal message and your friend’s email address, and that’s it… They get an email and a text message,” Cohn said.

Cohn and his partner first tapped New York City as the launch market because of its density and young population. They now have 59 partners in the area. They’re also expanding into Boston this summer: “It’s simply following consumer demand,” Cohn said.