Flippa is a tech startup that has created an online marketplace designed to help users easily buy and sell online businesses, apps, and other digital assets. The company recently raised new Series A funds to help expand current business operations and improve technology.
How Flippa works and the startup’s growing popularity
Tech startup Flippa allows business owners to list their business directly on Flippa’s online marketplace without the need to recruit a broker or consultant. Potential buyers can read descriptions about a business, view basic financial information, and view the sale price. For interested buyers, the tech startup helps initiate contact with the business owner.
Flippa also offers a number of other services that help make selling a business safer and easier. In addition to creating the online marketplace, the company offers a few other options such as legal services to facilitate a sale, Flippa Finder, which provides users with curated searches for specific types of businesses, and Flippa Financing to help users acquire the capital to buy the business they want. In addition, the tech startup has a due diligence service to ensure the legitimacy of any listed online business and a valuation service to offer better pricing options in the online market.
The selection of additional services and the wide variety of online business opportunities on the website have made the company incredibly popular in recent years. Flippa is now averaging over 4,000 business valuations every month and has seen its total year-over-year growth reach 100% in the last 12 months. In addition, the online market has added 300,000 new users in the last year to reach a total of more than 3 million. Flippa has offices in Austin, Texas, and Melbourne, Australia.
The growth of the online market has generated interest in the technology start-up from various investors.
Flippa financing round and expansion plans
In its Series A funding round, Flippa raised $ 11 million in equity. The funding round was led by OneVentures with the participation of several individual investors, including Andrew Walsh, Guy King, and Bevan Clarke, and Gabby and Hezi Leibovich, among others.
The company plans to use the new funds to help expand current business operations, with most of the money going to double its number of employees to more than 100. Most of the new hires will be based in Austin or Melbourne; However, the tech startup also plans to bring in remote workers from around the world. The money will also be spent on the company’s engineering, product development, sales and marketing departments, in addition to improving the flippa valuation tool.
Commenting on the latest round of funding for Flippa, CEO Blake Hutchison said: “In 2009, Flippa invented the space to buy and sell digital businesses and as a startup startup we have achieved # 1 status globally. We have witnessed from thousands of success stories, where business owners use Flippa to realize value in their extraordinary endeavors. We are now becoming a market network to streamline transactions of all sizes and excited to empower the next generation of entrepreneurs and investors “.