This founder built and sold a startup with EntrepreneurGPT

Ilya Novohatskyi

Apr 7, 2023

Hey everyone.

Since the last newsletter, most of you (83%) have voted for an auction. So I’ll learn how to do it and prepare for the event at the start of May. It should be a lot of fun.

Besides this, I have a lot of news to share with you:

Microns became the #1 upvoted product on Travel Massive (more details). Thank you to everyone who supported us 🏆
I've updated our partner program, so now our partners will receive a 50% commission from all payments, including renewals. It will make partnerships more attractive 💰
We sold another small startup 🥳

This week I prepared a new story about a recent acquisition, our March stats, and news about increasing the price.

As a bonus, a pearl of wisdom from Hazel, who built a startup having only $1 in budget without tech skills using no-code tools and ChatGPT as a partner. Incredible story, with many things you can learn and get inspired.

👋 Welcome

Welcome to the 43 new people joining this week.

Let me know what you think of your first issue. Replying helps Google realize it’s not a spam.

Prefer Twitter? Drop me a DM here.

Now let’s crack on with the newsletter ☕️

🎉 Recently sold startup

This week we helped to find a new owner for the shortcut key image generator web app. It had around 400 users and $0 in revenue because the project wasn't monetized. The startup was built via React and Next.js. The seller wanted to focus on another productivity app.

We rarely publish pre-revenue startups, but this one had potential, userbase, and low expenses. Meaning that the possible buyer could leverage existing users to grow their projects in the same niche. And voilà, it happened. The buyer integrated the acquired startup into their main project's Pro plan.

Feel free to support Denis and Snapit by following them on Twitter. To the moon 🚀

Sell Your Startup →

📈 Monthly update

March was a great month for us. We crossed 4,500 newsletter subscribers, listed more high-quality startups, and sold a few projects. But most importantly, we reached liquidity, meaning that every listing receives two to ten contact requests, enough to close a deal.

🌳 Price changes

In the last year, I experimented with pricing. I figured out that most of our churn comes from monthly subscriptions. They buy much less than those on yearly subscriptions and sometimes don't reply to the founders they contacted. As a result, monthly buyers are less serious.

After measuring stats and listening to the feedback, I'll remove monthly and six monthly subscriptions. Additionally, I'll increase the price for our annual subscription because, in practice, one successful acquisition ($3k+ in value) fully covers the subscription's cost.

So the price will increase from $199/year to $299/year next week. Our old and active premium members won't be affected. The new price will better reflect our value for entrepreneurs and investors. Based on my assumptions, it should attract more serious buyers resulting in more sales for our founders.