Steve and Edgar,
Thank you, and I agree. You are correct, we are selling a turnkey business opportunity. Our reason for this is that the developer is in a personal situation that limits how much more value we might expect from his individual effort.
His programming effort, an R&D project that over 3 years created a great product which has about 5 to 8 months of lead time over competitive programming, is now ready for a better financed group to incorporate into their business and realize its full potential.
One of the reasons for placing this pitch on Startup Nation was to refine it, as your comments have helped us accomplish, and to expand the network of contacts in the tech area that may have knowledge of the potential interested companies/investors which may have the ability to fully commercialize what appears to present a great potential cash flow for a variety of industies.
I also think the board would be open to paying a fee to anyone that is able to assist us in our effort to bring about a closure of this transaction quickly.
Thank you again for your post. Of course the value could be on hard assets, and some companies may also look at the synergistic value of the program that is developed and ready for use, to promote their own business or complement their existing portfolio of programs. I think we are looking for potential buyers interested in the latter as, while their are no debts, the real asset is in the development and future cash flow, now that the product is working.
Thanks for your constructive criticism. While the company has a URL, I would like to share that with inquiries rather than public forums. I understand the valuation of companies based on multiples can be negotiated and we are open to that. As to the "yahoo" email, it may be amateur, but the address is my personal one instead of the company, as again, we are trying to be discreet.
In fact, the low entry cost of the service of the web site by the real estate agent, and the ability that they have to generate additional income from what they are currently doing, make this program very attractive to the real estate agents. Competitive products are going for about 3x the price of our product.
As to customers, we are initially launching the effort this week and while the development of the programming has been ongoing for 3+ years, it looks like all the bugs are out and the beta testers were very happy.
So, as a pitch goes, I think we have a good program, that has competitive advantages and if a buyer comes up with $1-2 M, closing next 30 to 90 days, we are interested in talking.
Thanks. It is a company that is using the internet as a basic platform for the company`s revenue stream. It allows customers to sign up at the sight and then receive benefits, unique to the site.
Company, having developed over 3 years, a program for real estate agents` that uses Web 2.0 technology which is lower cost than competition and has automatic mechanism to generate qualified leads to lenders, is seeking to sale some of or all of company to interested buyer. Buyer may be real estate company, title company, or mortgage provider or investor. Revenues for company are aprox. $8000 net per month per 100 real estate agents. Entertain a sale at 20x net, (based on annualized net) with $100K down now for option to close in 90 days with a max $2M valuation. As more realtors added, price goes higher. Launch began this week of sales to agents. Seeing if buyers interested now, with intent to negotiate price based on actual realtors signed up at closing. Contact firstname.lastname@example.orgGrant2171/15/2008 3:38 AM