Can you share any selling details?
We posted the project on Flippa and on SideProjectors. I was very skeptical of Flippa. It seems like it’s primarily boilerplate projects there — a lot of garbage.
We listed it 2x the annual revenue. We felt this was the low end of the range most SaaS products sell for. Someone saw our listing on SideProjectors and reached out to us.
He was an independent developer like us but was looking to cut his teeth on a revenue-generating product. We had several calls about the product wherein he asked about the technology, and we talked about ideas for growth.
Eventually, he decided to meet our asking price, around $5,000. We agreed to accept half of that up front and the other half when all the existing customers rolled over and renewed.
This was only a few months away, but it meant that he would only be paying about $2,500 for the product. The rest would come from the money the existing customers paid to us.
We accepted the deal with a straightforward one-page contract and facilitated the transfer of assets and code.