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Author Topic: What are your thoughts on selling a bitcoin startup for bitcoin?  (Read 2355 times)
bitbaycom
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November 20, 2015, 01:17:18 PM
 #1

As the founder and developer of a bitcoin startup, I'm very interested to know what your thoughts are on the approach of selling a bitcoin startup, website or business for bitcoin?

We developed bitbay.com in the summer with plans to roll out and grow a solid bitcoin marketplace where anything (legal) could be purchased for bitcoin.
The truth is we never really had the funds to keep it operational or to promote the service to enough people to grow the service organically, and so.. this has led us to consider selling the whole startup to someone who does have the resources needed to make it flourish.

As bitbay.com is a bitcoin startup, we think this is a property that would be best fitted to a bitcoin enthusiast or at least to someone who trades in bitcoin.
Also, as it is a marketplace for trading goods and services for bitcoin, it also makes sense to list the startup itself on its own marketplace to demonstrate its own concept.

What are your thoughts on this?
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pawel7777
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November 20, 2015, 02:02:23 PM
 #2


Are you talking about selling registered business or just the website?

To be honest I don't think you'll find any buyers. This is one of the hardest type of business to get started, as you need to attract huge number of buyers/sellers all at once. Not to mention that there's already established competition (bitify) and there's a chance ebay will implement bitcoin payments soon (they filed some cryptocurrency payment processing patent applications).

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November 20, 2015, 02:52:34 PM
 #3

I have to give some comment about your website design. In title it is nothing which search engine can read to display result and i doubt you also haven't work on meta tag and description. And also width of site seems to be for mobile only, it only captures 30% of my laptop screen which is obviously not a good design. If you say bitbay is good domain than i also agree on it, but the one who will buy your site have to work on lots of thing to get better display among search engines.

Good Luck On your Sale

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pawel7777
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November 20, 2015, 03:02:46 PM
 #4


Yeah this is true. It will take hard work to get rolling. However we do feel that we have created a really nice, easy to use website/app and a very marketable brand name that is just perfect for any bitcoin startup.

Our registered business is just parent company with an unrelated name to hold the assets.
The assets (website/app/domain-name/branding) can all be passed onto any company who would like to take over.
There's no incoming revenue or outgoing debts owed to anyone. Just a clean and tidy bitcoin marketplace in a box ready and waiting for someone.

OK, I see.

The best you can do is just to list it on Marketplace board and see if there are any takers. You should offer selling it in official manner, with the legal agreement transferring any IP rights on to the buyer + provide support for a specified period after the sale.

Alternatively, if there are no takers, you can try to find a business partner, who would take the promotion on himself, while you could focus only on technical side.

ps. I cannot access your site atm, so I can't comment on design etc.

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November 20, 2015, 03:08:07 PM
 #5

How much? Its a cool idea

To peel or not to peel.
bitbaycom
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November 20, 2015, 03:13:58 PM
 #6

I have to give some comment about your website design. In title it is nothing which search engine can read to display result and i doubt you also haven't work on meta tag and description. And also width of site seems to be for mobile only, it only captures 30% of my laptop screen which is obviously not a good design. If you say bitbay is good domain than i also agree on it, but the one who will buy your site have to work on lots of thing to get better display among search engines.

Good Luck On your Sale

Thanks for your comments.
You're right, there has been little SEO work done so that could be added and improved upon greatly.

The fixed width thing is an intentional design feature. We took a mobile first approach and developed an app/website hybrid design.
80-90% of the users shouldn't see or find the extra space too imposing.
bitbaycom
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November 20, 2015, 03:20:46 PM
 #7

How much? Its a cool idea

Thank you Smiley

Happy to consider all reasonable offers. Please private inbox me or pop me an email to info@bitbay.com

If a sale is made with Bitcoin, it will also add to making a nice founding story - A bitcoin marketplace listed and sold on its own marketplace for bitcoin Cool
bitbaycom
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November 20, 2015, 07:23:59 PM
 #8


You should offer selling it in official manner, with the legal agreement transferring any IP rights on to the buyer + provide support for a specified period after the sale.



This is what we are offering. All the above Smiley
n3rvi0zz0
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November 20, 2015, 07:26:29 PM
 #9

How much? Its a cool idea

Thank you Smiley

Happy to consider all reasonable offers. Please private inbox me or pop me an email to info@bitbay.com

If a sale is made with Bitcoin, it will also add to making a nice founding story - A bitcoin marketplace listed and sold on its own marketplace for bitcoin Cool


long time ago i wanted to do an aproach with you.

check out darkhash.co.uk

ill send you a MP now
dothebeats
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November 20, 2015, 07:41:50 PM
 #10

It's actually nice to have sold your own startup into its own marketplace (kind of an inception there lol). The design is nice on mobile too, I must say. Since it's a startup venture and I see that everything is pretty much setup by now, why not advertise it on twitter/marketplace here/services to find a prospective buyer or an investor if you're lucky? Smiley

bitbaycom
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November 20, 2015, 10:39:57 PM
 #11

It's actually nice to have sold your own startup into its own marketplace (kind of an inception there lol). The design is nice on mobile too, I must say. Since it's a startup venture and I see that everything is pretty much setup by now, why not advertise it on twitter/marketplace here/services to find a prospective buyer or an investor if you're lucky? Smiley

Thanks Smiley
bitbaycom
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November 25, 2015, 01:59:23 PM
 #12

How much? Its a cool idea

Thank you Smiley

Happy to consider all reasonable offers. Please private inbox me or pop me an email to info@bitbay.com

If a sale is made with Bitcoin, it will also add to making a nice founding story - A bitcoin marketplace listed and sold on its own marketplace for bitcoin Cool


long time ago i wanted to do an aproach with you.

check out darkhash.co.uk

ill send you a MP now

I've just checked out darkhash.co.uk

How is it going?
Do many of the forum members use your services?
Kprawn
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November 25, 2015, 03:33:13 PM
 #13

How much have you spend on marketing the site so far? Can you share some site statistics with us to see if monetization through ad's could be a viable option to fund the

marketing side of things. It will also help to determine the value of the domain. {You are selling the domain?} Sites like these needs to be advertised everywhere and mayor

funding would be needed for that. What type of price are you looking at?

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November 25, 2015, 05:09:44 PM
 #14

As the founder and developer of a bitcoin startup, I'm very interested to know what your thoughts are on the approach of selling a bitcoin startup, website or business for bitcoin?

We developed bitbay.com in the summer with plans to roll out and grow a solid bitcoin marketplace where anything (legal) could be purchased for bitcoin.
The truth is we never really had the funds to keep it operational or to promote the service to enough people to grow the service organically, and so.. this has led us to consider selling the whole startup to someone who does have the resources needed to make it flourish.

As bitbay.com is a bitcoin startup, we think this is a property that would be best fitted to a bitcoin enthusiast or at least to someone who trades in bitcoin.
Also, as it is a marketplace for trading goods and services for bitcoin, it also makes sense to list the startup itself on its own marketplace to demonstrate its own concept.

What are your thoughts on this?


Sounds like a good concept. Too bad you didn't have enough funding to pursue this.

Hope you get a good deal mate.
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November 25, 2015, 05:17:43 PM
 #15

Get it off the ground before you sell it, it will be worth a lot more. Improve the interface and user experience, then have people to list items on it, then do a marketing push. Sell it when it is more well known, it is not worth much at its current state.
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November 25, 2015, 05:33:14 PM
 #16

My advise: Don't sell it, even if you are in a financial situation that you desperately need money. Keep the site and the shop.

Just some observations/suggestions:

- Some of the offers are pretty old - the fluctuation of the BTC-price isn't reflected, i.e. I would make sure that the prices are changing according to the wishes of the sellers.
- I'd make sure that older offers "disappear" in a "den". Otherwise, you'll have a lot of offers on the site which are pretty old, potential buyers don't know if they really still are active or not.
- design always is a question of taste - mine is different in some respects :-)

Why don't you do a crowd-funding in here and redo the shop as well as make some promotion? I, for example, would be willing to invest.
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November 25, 2015, 06:22:32 PM
 #17

One question is: Where are you located? Would it make sense to establish a company there? If so, you could ask here in the forum if someone would help to give capital. For example: If the company's capital should be 10'000 Euro, you could ask for funding. Everyone who pays gets a certificate for a stake in the company.
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November 25, 2015, 08:58:17 PM
 #18

Maximum price for a website is 3 times its annual revenue. I suggest you forget the website and focus on selling the domain name. Sorry if you think I'm rough but business is tough. Ask yourself how much Donald Trump would pay for your business. Not much.
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November 25, 2015, 09:06:27 PM
 #19

Maximum price for a website is 3 times its annual revenue.

yes, but for common good known service. for something like bitcoin will be even hard to find any potential buyer.
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November 25, 2015, 10:05:17 PM
 #20

just saw your thread and the site which you are selling, after seeing your site it is clearly seen that some immature has done the site development , for the doman i think someone may be interested but for your site, i dont think any one will be ready to pay. can you tell me the price for how much is for sale and give me full details of the business model and site details.














 

 

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