Over the last few years I’ve seen Flippa really up their game when it comes to buying and selling online businesses. While my core focus is domain names, I’m finding more and more readers who are interested in going beyond the domain itself and are interested in either buying or selling an existing online business.
When it comes to people who I think have really hit it out of the park for taking great domains and turning them into online businesses I think of Peter Askew and Drew Walsh. If you’re not following both these guys on Twitter, the links are right there, do it. Peter sells onions on the Internet among other things, and well, he sells a lot of onions. If you don’t believe me, read this, it will blow your mind.
Drew runs a bunch of different sites, Towing.com is one of my favorite examples and honestly, both Peter and Drew have inspired me a lot. Which leads me to the topic of this post – Flippa’s nifty business valuation tool.
As you probably know, Flippa has a ton of data on past online business that have sold and all the metrics behind them. Unlike domain names which can be pretty darn tough to automagically estimate value, online businesses are a little more straight-forward since things like traffic and revenue play a pretty big role when it comes to value. The challenge is, you need a lot of data to make good predictions, and last time I checked, Flippa has the most data out of anyone.
Now in the title of this post I said that the Flippa valuation tool is slick 😎 – so what did I mean by that? Well rather than just having a simple boring web form, Flippa is actually using a chatbot to ask you questions which I think personalizes the experience.
If you want to take the valuation tool for a spin yourself, you can check it out here. Oh and for those with a really good memory you might remember a long time ago in a galaxy far far away where I started a company called appraiso that scraped Flippa’s site and provided online business appraisals.
We made a really cheesy teaser video about it and while I can’t find the video right now but you can read more about it in this blog post. And yes, Flippa’s valuation tool is much better, if you have an online business and are looking at selling it you may as well take it for a spin.