How I sold my $0 revenue SaaS side project for $4.5K
Two weeks ago today I tweeted that I'd listed my product, Recover, for sale on MicroAcquire for $4k:
After talking to 20+ potential buyers, ranging from founders of enterprise payment providers to smaller software studios, I finally connected with a potential buyer who had a clear vision for the product and a plan for how they'd grow it.
A letter of intent (LOI) was submitted for $4k. We then hopped on a call where I showed him how the platform worked, and talked about some potential future feature ideas.
Following the call, we came to an agreement where I'd add a couple of extra pricing tiers (rather than just the current PAYG plan) and decided on a total overall acquisition fee of $4500 to compensate for the extra functionality.
Once the final fee was agreed and we were both happy with the terms of the deal (how to transfer the codebase, etc), an Asset Purchase Agreement (APA) was submitted for my approval. After the APA was signed, the money was sent via PayPal and we've arranged a call for the transferral of the codebase.
I tweeted about the successful purchase (which you can see below):
In total, the tweets had over 75,000 impressions and resulted in over 150 new followers.
As an indie maker and someone with too many abandoned side projects, I definitely recommend using MicroAcquire to help offload them and raise some extra cash.
Congrats on the acquisition Richie!
Hey, Richie
First of all Congratulations on your Sale. 👏
I can completely relate to the feeling of a successful sale as an Indie Maker, as I was also in the same boots in Nov 2021 where I sold My directory of resources side-project tools for around $1500 on microacquire.
I've got many buyer requests but just like yours, one buyer was super interested & we quickly signed an agreement & the payment was received by PayPal & ownership was transferred by me in just under an hour.
The whole process was super smooth & that day my life completely changed, as I was in need of emergency money, & this deal solved it completely.
This deal was a real kick-starter of my Indie Making Journey, I love it & will keep doing forever.
Cheers, Richie 🍻 & to every Indie Maker out there.
I've been considering this for an app I built.
Did any of these potential buyers ask you to stay on in some capacity? Were you interested in that?
Well done, Richie! 👏
Boom, this is so cool, congrats Richie!
Congratulations @richiemcilroy.
Your journey has validated for me that it is possible to sell without traction for your product. I always assumed one has to get traction before aiming to sell on MicroAcquire...
How were you able to convince the buyer that you're product had any value? I've been trying to sell my micro startup for 2 weeks now....
Congrats Richie! 🎉
Is the transfer of the assets a complicated process?
Congratulations though $4,000 isn't a lot of money. Some folks routinely buy aged corporate entities without any activity for legal reasons. Always better aged.