3 ms·

Remember InviteShare? Sold for $25,000!

12 points by mdolon 19y ago

edgeztv 19y ago
If I was a potential buyer I'd see someone selling a site just 4 days after launch as a big red flag. Was the developer's confidence in it's potential so low that they chose to take a sum equivalent to 4 months' salaray (assuming they're not 16) rather than ride the wave? On the other hand, maybe they're on to something - repeatedly build sites with cool design, get a mention on Tech Crunch, and flip.
- mynameishere 19y ago
  _cool design_ I beg to differ.
  - SwellJoe 19y ago
    Well, if you don't think much of their design, you could try it with a cool design, and see if you can double their take. ;-)
- mdolon 19y ago
  In the last comment on the Sitepoint auction, the creator mentions that he earned $30 from Google ads. While this is during (probably) a peak in traffic due to all the buzz around his site, let's assume he averages $50/day from Google ads. Unless he comes up with a solid revenue model, gets some sponsors or his site takes off even more, he'd be making around $1500/month. Selling for $25,000, on the other hand, could allow him to invest in another more promising idea. All that aside, I'm still not sure if I'd do what he has done.
aaroneous 19y ago
While I think InviteShare provides a useful service and could gather a community, I think it would be difficult for someone to easily make a full-time business out of it on its own. $25,000 for what likely could have been a handful of days work is an excellent payout, and possibly a great way to fund their next startup ;]
- benhoyt 19y ago
  Unless I'm badly mistaken, that site's much more than just a handful of days work.
  - willarson 19y ago
    "Could be done in a handful of days" is the stock response to web applications these days. On one hand its mostly true (its easy to get the majority of functionality working), but its also a bit of bravado: raw functionality and a polished product are not really equivalent.
    - edgeztv 19y ago
      Well said. I was just pondering this the other day - how did did I manage to get really cool/hard coding projects (AI, systems, etc.) done in school in just under a week while it takes many months to get a decent web application built. I realized that it's because the things you build in school are prototypes that deal with very specific use cases, while web apps require you take care of lots and lots of details so that ordinary people could use them. Please don't reply saying "maybe you should consider Ruby on Rails" because that's not the point of my comment :)
staunch 19y ago
I'm interested in who bought it. Was it an SEO/domainer/spammer guy?
- aaroneous 19y ago
  That's an excellent question. I was also just wondering who the new owner was since it's listed as 'Private' on the auction site.
  - paulgb 19y ago
    That is actually pretty common for the sitepoint marketplace, so it is not necessarily an indication that the buyer is blackhat/spammy.
hello_moto 19y ago
Come to think, this "scenario" seems like a good idea rather than going through YCombinator. Think about it. Find something easy to implement (shouldn't be more than 1.5 months effort) and target it to TechCrunch audience. Flip the site for $25k - $30k and embark to your ultimate goal. Now you don't have to share 6% - 10% of your company to YCombinator (or other similar companies)
- mdolon 19y ago
  I've thought about that too but you have to realize that while you're not giving up 2-10%, you also miss out on the connections you could have made with other entrepreneurs, potential cofounders and investors. Now if you could raise $25-$30k AND take advantage of YCombinator's resources, that sounds like a plan.
- pg 19y ago
  The money is the least of what we do.
  - nanijoe 19y ago
    This may be true, but the guy who applies to YC with $25k already in the bank and the experience of having sold a 'startup' after less than 2 weeks of launching, will surely have some kind of advantage over other applicants; No?
- SwellJoe 19y ago
  We had $16,000 in the bank when we accepted YC funding and were already selling product. Nonetheless, it was 5% of equity well-spent. I couldn't hire pg, tlb, or Jessica for any amount of money. But when I let them give me $15k, they became part-time employees for three months. Pretty cool deal, I think. But, hey, if you already know where you're going and how to get there...and you just need a few thousand dollars to do it, skip YC. It's not right for you.
  - nanijoe 19y ago
    Completely off topic...I wonder why I think of Vitamins every time I see your name :)

12 points by mdolon 19y ago

If I was a potential buyer I'd see someone selling a site just 4 days after launch as a big red flag. Was the developer's confidence in it's potential so low that they chose to take a sum equivalent to 4 months' salaray (assuming they're not 16) rather than ride the wave? On the other hand, maybe they're on to something - repeatedly build sites with cool design, get a mention on Tech Crunch, and flip.

mynameishere 19y ago
_cool design_ I beg to differ.
- SwellJoe 19y ago
  Well, if you don't think much of their design, you could try it with a cool design, and see if you can double their take. ;-)
mdolon 19y ago
In the last comment on the Sitepoint auction, the creator mentions that he earned $30 from Google ads. While this is during (probably) a peak in traffic due to all the buzz around his site, let's assume he averages $50/day from Google ads. Unless he comes up with a solid revenue model, gets some sponsors or his site takes off even more, he'd be making around $1500/month. Selling for $25,000, on the other hand, could allow him to invest in another more promising idea. All that aside, I'm still not sure if I'd do what he has done.

aaroneous 19y ago

While I think InviteShare provides a useful service and could gather a community, I think it would be difficult for someone to easily make a full-time business out of it on its own. $25,000 for what likely could have been a handful of days work is an excellent payout, and possibly a great way to fund their next startup ;]

benhoyt 19y ago
Unless I'm badly mistaken, that site's much more than just a handful of days work.
- willarson 19y ago
  "Could be done in a handful of days" is the stock response to web applications these days. On one hand its mostly true (its easy to get the majority of functionality working), but its also a bit of bravado: raw functionality and a polished product are not really equivalent.
  - edgeztv 19y ago
    Well said. I was just pondering this the other day - how did did I manage to get really cool/hard coding projects (AI, systems, etc.) done in school in just under a week while it takes many months to get a decent web application built. I realized that it's because the things you build in school are prototypes that deal with very specific use cases, while web apps require you take care of lots and lots of details so that ordinary people could use them. Please don't reply saying "maybe you should consider Ruby on Rails" because that's not the point of my comment :)

staunch 19y ago

I'm interested in who bought it. Was it an SEO/domainer/spammer guy?

aaroneous 19y ago
That's an excellent question. I was also just wondering who the new owner was since it's listed as 'Private' on the auction site.
- paulgb 19y ago
  That is actually pretty common for the sitepoint marketplace, so it is not necessarily an indication that the buyer is blackhat/spammy.

hello_moto 19y ago

Come to think, this "scenario" seems like a good idea rather than going through YCombinator. Think about it. Find something easy to implement (shouldn't be more than 1.5 months effort) and target it to TechCrunch audience. Flip the site for $25k - $30k and embark to your ultimate goal. Now you don't have to share 6% - 10% of your company to YCombinator (or other similar companies)

mdolon 19y ago
I've thought about that too but you have to realize that while you're not giving up 2-10%, you also miss out on the connections you could have made with other entrepreneurs, potential cofounders and investors. Now if you could raise $25-$30k AND take advantage of YCombinator's resources, that sounds like a plan.
pg 19y ago
The money is the least of what we do.
- nanijoe 19y ago
  This may be true, but the guy who applies to YC with $25k already in the bank and the experience of having sold a 'startup' after less than 2 weeks of launching, will surely have some kind of advantage over other applicants; No?
SwellJoe 19y ago
We had $16,000 in the bank when we accepted YC funding and were already selling product. Nonetheless, it was 5% of equity well-spent. I couldn't hire pg, tlb, or Jessica for any amount of money. But when I let them give me $15k, they became part-time employees for three months. Pretty cool deal, I think. But, hey, if you already know where you're going and how to get there...and you just need a few thousand dollars to do it, skip YC. It's not right for you.
- nanijoe 19y ago
  Completely off topic...I wonder why I think of Vitamins every time I see your name :)