What are your thoughts on selling a bitcoin startup for bitcoin? - page 2.

bitbaycom

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Quote from: Patatas on November 29, 2015, 11:45:13 AM

This completely depends on your approach on why "You started the business".If you started a company with an intention to make it successful then selling it obviously seems like a bad idea because you couldn't make it.On the other hand, if you think logically that your idea of the start up is quite played out or saturated and you don't really see any business with the same for now or you have some other idea in then ,in that case selling your start up would be a nice thing to do.No sure if you'll get the same resale value as you had invested but you've to comprise.

Didn't really put in any investment other than a lot of development time and the original purchase of the domain name.

Will definitely continue to work on other bitcoin products.

bitbaycom

newbie

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Quote from: n2004al on November 30, 2015, 05:22:38 AM

Quote from: bitbaycom on November 20, 2015, 09:17:18 AM

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?

as for the selling of your materialized work with bitcoin that depends on your expectations on him. I would sell without hesitation in bitcoin. But this is what I think. You may think otherwise. I believe in bitcoin and I try to have as much as I can of it. So it will be a very fortune for me to be able to sell such materialized work with bitcoin.

Yup me too. I still very much believe in using bitcoin which is why we'd be more than happy with a bitcoin sale.

n2004al

legendary

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Quote from: bitbaycom on November 20, 2015, 09:17:18 AM

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?

According to me you must use all the possible ways to expose in clear evidence the value of your work. This may bring several goods, the first of whom will be the highest possible price in its selling. Have no good possibilities or bad possibilities in this direction. Must be tried all. No one know from where might be the best offer. Then, as for the selling of your materialized work with bitcoin that depends on your expectations on him. I would sell without hesitation in bitcoin. But this is what I think. You may think otherwise. I believe in bitcoin and I try to have as much as I can of it. So it will be a very fortune for me to be able to sell such materialized work with bitcoin.

bitbaycom

newbie

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Quote from: ?? on ??

Few suggestion from me :
1. Use BitPay/Coinbase service. It'll help you & your customer, also they automatically follow bitcoin price too.
2. Consider using good design but simple. Customer won't like unattractive design.
3. Make your website more secure. Add AES, HTTPS & certificate for your website.
4. Do some social promotion.

All good points!

If we do continue without selling the startup, we will be looking at all of these for bitbay.com version 1.2.0

Thanks

Patatas

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Providing AI/ChatGpt Services - PM!

This completely depends on your approach on why "You started the business".If you started a company with an intention to make it successful then selling it obviously seems like a bad idea because you couldn't make it.On the other hand, if you think logically that your idea of the start up is quite played out or saturated and you don't really see any business with the same for now or you have some other idea in then ,in that case selling your start up would be a nice thing to do.No sure if you'll get the same resale value as you had invested but you've to comprise.

n691309

legendary

Activity: 1526

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If you choose to sell this startup company I don't think that you will make good money, but starting a strategic idea/project to boost the service will be better and also running a kickstarter campaign would be better, but if you can sell then why not. We should know that most of startups fail so there is a higher risk.

hughbt

hero member

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I like the name, the font you are using(reminds me of something, old moneybookers?) and unfortunately that's it. It's not expensive to code a site better than this one, so basically you are only selling the brand(with domain etc.). If I were you I would try to build an e-bay like platform(where you have a rating system) with bitbay working as an escrow where you could buy/sell maybe even crowdfund whatever you want. I saw a lot of people here selling things related to cryptos and even accepting crypto payments in their own shops around the world, but they don't have enough exposition(is this the right word?), so there is a potential. IMO that would be a proper startup.

equator

legendary

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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.

Xialla

legendary

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/dev/null

Quote from: countryfree on November 25, 2015, 04:58:17 PM

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.

countryfree

legendary

Activity: 3052

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Your country may be your worst enemy

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.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

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.

RealMalatesta

legendary

Activity: 2338

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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.

PolarPoint

hero member

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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.

ultimatesky

hero member

Activity: 714

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SkyFall

Quote from: bitbaycom on November 20, 2015, 09:17:18 AM

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.

Kprawn

legendary

Activity: 1904

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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?

bitbaycom

newbie

Activity: 24

Merit: 0

Quote from: n3rvi0zz0 on November 20, 2015, 03:26:29 PM

Quote from: bitbaycom on November 20, 2015, 11:20:46 AM

Quote from: gravitate on November 20, 2015, 11:08:07 AM

How much? Its a cool idea

Thank you

Happy to consider all reasonable offers. Please private inbox me or pop me an email to [email protected]

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?

bitbaycom

newbie

Activity: 24

Merit: 0

Quote from: dothebeats on November 20, 2015, 03:41:50 PM

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?

Thanks

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

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?

n3rvi0zz0

sr. member

Activity: 289

Merit: 250

Quote from: bitbaycom on November 20, 2015, 11:20:46 AM

Quote from: gravitate on November 20, 2015, 11:08:07 AM

How much? Its a cool idea

Thank you

Happy to consider all reasonable offers. Please private inbox me or pop me an email to [email protected]

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

bitbaycom

newbie

Activity: 24

Merit: 0

Quote from: pawel7777 on November 20, 2015, 11:02:46 AM

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

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