Sortfolio lives
37signals.com
Sortfolio lives
1–10 of 75 posts
Re: Sortfolio lives
#2Wow! From DHH in the comments, it appears it did sell for the full asking price. Very curious to know more about the new owners. Buying a business outright and then running it isn't a scenario that gets covered very often on the startup behind-the-scenes circuit.
Here's hoping we get some follow-up posts about how it goes for the new owners on SVN.
Re: Sortfolio lives
#3Wow! From DHH in the comments, it appears it did sell for the full asking price. Very curious to know more about the new owners. Buying a business outright and then running it isn't a scenario that gets covered very often on the startup behind-the-scenes circuit. Here's hoping we get some follow-up posts about how it goes for the new owners on SVN.
Yes, despite the HN peanut gallery's perception of the world, there is actually a market for profitable businesses. It's surely less exciting than selling your no-revenue photo service for a billion dollars, but that's ok.
We'll be sure to follow the life of Sortfolio after the sale.
Re: Sortfolio lives
#4That’s correct. Customers will not have to re-enter credit cards or do anything. This is pain free for customers.
This is good. Sortfolio may not have been worth the $480,000 otherwise. I imagine that requiring customers to re-enter their info would cause an immediate drop in the number of paying customers.
Re: Sortfolio lives
#5Wow! From DHH in the comments, it appears it did sell for the full asking price. Very curious to know more about the new owners. Buying a business outright and then running it isn't a scenario that gets covered very often on the startup behind-the-scenes circuit. Here's hoping we get some follow-up posts about how it goes for the new owners on SVN.
Yes, despite the HN peanut gallery's perception of the world, there is actually a market for profitable businesses. It's surely less exciting than selling your no-revenue photo service for a billion dollars, but that's ok. We'll be sure to follow the life of Sortfolio after the sale.
I'd love a post on how the price was set at 480k and why specifically you weren't willing to sell for anything less than that figure. Why you drew that line in the sand. Must have been more going on here than meets the eye.
If I had to guess I'd would say that the people who bought the site had offered 480k but you didn't want to say that you had a solid offer for a certain amount. Speculating that you told them you would sell to them at that price if a better offer didn't come in. This seems to dovetail with the somewhat cavalier attitude of previous posts and 37signals principals HN comments.
"despite the HN peanut gallery's perception of the world, there is actually a market for profitable businesses."
I've bought and sold several businesses both as the business owner and as a go between (collecting a commission for the sale of a business).
Re: Sortfolio lives
#6I would like to see how this developed from [1] to this sale.
It seemed improbable back then.
Re: Sortfolio lives
#7Earlier quoted context omitted.
Yes, despite the HN peanut gallery's perception of the world, there is actually a market for profitable businesses. It's surely less exciting than selling your no-revenue photo service for a billion dollars, but that's ok. We'll be sure to follow the life of Sortfolio after the sale.
I'd love a post on how the price was set at 480k and why specifically you weren't willing to sell for anything less than that figure. Why you drew that line in the sand. Must have been more going on here than meets the eye. If I had to guess I'd would say that the people who bought the site had offered 480k but you didn't want to say that you had a solid offer for a certain amount. Speculating that you told them you…
Yeah, you got us figured out. We had an offer, sat on it, invented this story to see if we could get more, and played the world for a fool. BUT YOU BUSTED US. OH NOOOOES!
Or, of course, the simpler explanation: We thought the site was worth at least 2x the previous year's take. And if we didn't get that, it wasn't worth our time to deal with the transaction.
Re: Sortfolio lives
#8Wow! From DHH in the comments, it appears it did sell for the full asking price. Very curious to know more about the new owners. Buying a business outright and then running it isn't a scenario that gets covered very often on the startup behind-the-scenes circuit. Here's hoping we get some follow-up posts about how it goes for the new owners on SVN.
Yes, despite the HN peanut gallery's perception of the world, there is actually a market for profitable businesses. It's surely less exciting than selling your no-revenue photo service for a billion dollars, but that's ok. We'll be sure to follow the life of Sortfolio after the sale.
Excellent, thanks. We hear so much the genesis of businesses but this phase of a business' life is fascinating too. Congratulations.
Re: Sortfolio lives
#9Wow! From DHH in the comments, it appears it did sell for the full asking price. Very curious to know more about the new owners. Buying a business outright and then running it isn't a scenario that gets covered very often on the startup behind-the-scenes circuit. Here's hoping we get some follow-up posts about how it goes for the new owners on SVN.
Yes, despite the HN peanut gallery's perception of the world, there is actually a market for profitable businesses. It's surely less exciting than selling your no-revenue photo service for a billion dollars, but that's ok. We'll be sure to follow the life of Sortfolio after the sale.
That is very interesting!
What research went into discovering that there is a market for profitable businesses?
This really shatters the idea that the point of business is not to make money.
Re: Sortfolio lives
#10There were so many unanswered questions in the Flippa posting and the HN "peanut gallery" that it makes me feel like 37signals was never looking for new buyers.
Perhaps they already had a buyer in mind and just needed some negotiation leverage or wanted some free publicity.
I imagine people who were genuinely interested in bidding for Sortfolio feel a bit cheated with this announcement coming out of the blue.