The social media platform, developed in 2001, is based in the UK and offers both free and premium membership options. Users can upgrade their free membership to access features like unlimited private messaging and detailed activity insights. As of February 2014, the platform has an active user base of over 268,000 members. From its inception, the site has grown through word-of-mouth alone, without any marketing expenditure. Despite this, it continues to attract between 400 and 700 new monthly sign-ups. The primary revenue source is membership subscriptions, supplemented by a small percentage of income from advertising.
In late 2012 and early 2013, the site faced challenges including the liquidation of its SMS payment facilitator, resulting in significant losses. Additionally, a security breach in May 2013 exposed user data but was swiftly managed. Although profitability dipped due to these incidents and subsequent platform upgrades, the site quickly recovered and recorded its highest revenue in December 2013. Built on PHP and MySQL, transactions are conducted in British pounds through payment processors like PayPal.
Potential growth opportunities for new owners include launching a revamped website and mobile version, updating and relaunching an iPhone app, expanding to Android, and introducing targeted marketing campaigns. The current owner, a web developer, is selling due to a change in personal interests and is open to offering post-sale support. The site's future prospects are promising, with a range of enhancements ready to be completed and implemented.
Flippa’s platform is free for buyers. Here are our tips for first-time buyers:
Before making an offer
1. Look for verified sellers. Sellers should verify their email, phone, and government ID. When a seller has completed all verifications, we identify them with a checkmark like this:
2. Review financials. Financials are seller-provided inputs. Always ask for verified financials. Ask for a tax return or request access to their dashboard. if it’s an ecommerce store get a transaction report.
3. Review traffic. Sellers can grant you access to Google Analytics. Ask for read-only access to verify site traffic.
4. Schedule a call. Communication is key. The best way to find out more is to speak directly with the seller. For your protection, keep all communication within Flippa.
5. Make the offer on Flippa. We’re here to help. Flippa does not charge buyers and by making an offer on Flippa you’ll get access to our post-sales support team.
1. Agreements & Contracts.
Connect with a US-based lawyer or purchase asset-specific template legal documents via Flippa Legal.
2. Conduct Due Diligence.
You can conduct this yourself or use our trusted network of industry-leading due diligence partners. They can provide in-depth analysis, identify hidden risks, and independently assess the value of the business. Learn More