By: RH
Flippa held their first ever Flippie Awards and the results are below:
Announcing the Winners of our First Annual Flippie Awards
Posted February 4th, 2013 by Ophelie Lechat 0 Comments
After tabulating hundreds of votes, we are pleased to announce the winners of our first annual Flippie Awards.
Drumroll please…
Best Site Content: Militarybases.com
Best Domain Listing: Weddingvows.com
Best Blog Site: Tiptoptens.com
Best E-Commerce Site: Madokamodern.com
Best Site Monetization: Vacationrental.org
Best Web/Mobile Apps: Qhub.com
Best Overall Site: MilitaryBases.com
Militarybases.com garnered the most votes on any site in any of the
categories. We caught up with Dan Anderson, the creator of
Militarybases.com, about his win.
“I am honored to be recognized by Flippa for the sale of
MilitaryBases.com in the first ever Flippie Awards! The sales price I
was able to achieve for this site was life changing.”
fizz says
Congratulations on the award Dan, it is well deserved.
I was interested to read about the problem that partial ownership may lead to in a web project such as this, with the forced sales price of $125,000 being about 1.9X annual net profit ($5499 3 months average).
Dan, how would you recommend others avoid such a situation, or was it vital that you had other partial owners to get the project off the ground?
Dan Anderson says
Thanks Fizz. That’s a good question.
The investment was vital to get the project off the ground because I could not afford the domain without it, but two years out the arrangement looked less and less beneficial to me.
There was a lot more money to be made if there was further development and marketing done, but no legal structure existed to open the agreement back up for new fund raising, adjustment in ownership levels, delegation of roles, etc.
The obvious way to avoid this kind of situation is to have lawyers from the get go. The main problem was this: our agreement was simply too vague to continue under it productively. I opted to end it rather than renegotiate. I made a lot of newbie mistakes.
Tips from my hard learned lesson: a good contract lawyer is your best friend, all agreement should have end dates which initiate negotiation periods, investors add value in the beginning but they take value later. This last point should be obvious, but never forget it when taking an investors money.
fizz says
Your very informative response is much appreciated Dan.
I am sure your share of the auction proceeds will be put to good use in a new online venture.
RH says
Thank you Fizz for spaking the conversation and Dan thank you for sharing and congrats on the sale and the Flippie.
Roger says
What site did you sell Dan ?