Benjamin Cohen became one of the success stories of the late 1990s when he created the soJewish and JewishNet websites.
He was dubbed Britain’s first teenage dotcom millionaire and became the focus of a BBC documentary.
Mr Cohen, who is now 23, is launching PinkUnlimited.co.uk, a network of online and offline media outlets for the gay community.
The network’s first website, PinkNews.co.uk, was launched as a test in August last year, and quickly became the most visited gay news service outside of the US.
He launched PinkLegal.co.uk yesterday, a legal advice service for people entering into civil partnerships, which helps gay couples draw up pre-nuptial agreements and update their wills.
It is thought to be the first dedicated gay legal website in the world.
He also runs PinkMarket.co.uk, which sells merchandise ranging from pink mobile phones and kitchenware to gay and lesbian books.
The websites are aimed at gay professionals, and Mr Cohen hopes they will carve out a segment in the media market which he claims has previously only occupied occasional pages in mainstream publications and the odd article in gay magazines.
He said unlike the rest of the gay media offerings, PinkUnlimited.co.uk and its associated publications were not aimed at young gay males who were only interested in clubbing and sex, but rather focused on in-depth analysis of precedent-making court cases, political comment and human rights investigations.
Mr Cohen said: “Rather like the Jewish websites, this business was a bit of a fluke.
“Originally I was really using the site as a way of commenting on news stories I felt were relevant to our community.
“However, I seemed to strike gold and hit upon a niche market that had not been tapped into before.”