I just got offered $1.875M for my company.
 

One of my competitors (much larger than me) just sent me a certified offer today for all rights to my company. I have to sign a strict non-compete that I will not start another business in the same market. I could start a serious progam with that kind of jack. Keep in mind, I have 2 partners so I wouldn't receive the entire amount.

They did outline that we would retain employment with their company if we decide to sell that would guarantee us $---,--- yearly income with another small bonus guarantee to be determined by their gross sales.

Congrats :thumbsup

Is this for AcidFlyers?

are you going to do it or what

Turn it down. If i wanted to deal with your competitor I would have and I do not. So please do not force me to.

So are you going to sell?

if they're looking for other companies to buy for $1.875M, please send them my way?

I hope you dont sell

I'm sure we will because we are on a steady growth and the company will be worth much more in 5 years and another 1,825 14 hour days it will be worth much more.

It is tempting as hell though! I've never received that large of a sum of money at one time.

If you do accept it, just imagine what you'll get after splitting with partners and after taxes. Does it still look so appealing :)
WG

sell mortermer! sell!!!!

take that shit man...buy property...

Sell it go get your name changed and start another one

congratz!

will you do it?

it sounds like a good deel , good luck with what ever you decide on :)

tough choice there

Congrats man :thumbsup I'll take it if I were you...

I think you're High on Acid.

Thats whats iam thinking to

Which part of this was hard to read
"I have to sign a strict non-compete that I will not start another business in the same market."

:1orglaugh

some people have comprehension problems :1orglaugh

Good Luck with the offer.

Turn it down, that's only the first offer. Wait and see what they offer next.

The guy that owned tvtome.com got $5 million from Cnet to sell his site.

take the cash and start up something else

exactly turn it down

After the split and taxes etc will it be more than you are making in a year now from the company? Will it be more than you will maike in the next 10 years?? If not, dont sell.

For how long? 2 years, 5, lifetime?


This is an important part of the contract.

would not be be near enough for me to sell my site. 1-2 million is not that much money.

you should have a valuation analyst review your business before you think about selling, you might find that its worth much more.. either way tell the guys to double the offer and see how they respond

If you enjoy what you're doing. Don't sell. If you'd like to get out of it and explore other options. Now's your chance.

Ehhh, figure in the split between the other 2 partners and it's not that much. The no-compete would be a turnoff, too. I'm tied down into a 5-year no-compete contract right now and it blows. I'd pass on it for that reason alone.

I agree.

Great for the ego!! Congrats.. To many details to go into to know what would be right. And then still a guess..

Good luck on what ever you and your partners decide to do.

And to think I called you an idiot at least once..... :1orglaugh :1orglaugh

In my mainstream career, I've owned two companies that made it to multi-million dollar sales level. Selling at the right time would have been smart in both cases. I would be much, much better off today. So what, it was a fun ride.

Will I ever move my pron efforts to that level? Time will tell. Need to get my ass in gear and focus a bit more.

What would make it worth selling to you? Figure that price out, double it or more for the non-compete and see how they like your counter offer. Guess that they will be willing to double their initial offer. No reasonable person would start out with their highest offer.

Chances are if you've been successful in your current endeavor, you will be in a new one too. It will probably reduce itself to whether you like your current line of work or are curious about other opportunities.

Nice, but if you have a sizeable solid business don't sell yourself short. Companies are paying premiums for well developed highly profitable sites now.

sign that shit and retire :thumbsup

I'd hold on. Unless you don't see growth in the near future for your company. If you are confident in your growth abilities stick it out for a little while. That was the first offer.

Congrats, take the money!!!

:disgust

very nice!

Awesome

say, since your company is valued at so much.. could i get like 500 business card double sided color for free.... i'll pay shipping

Congratulations man, whether you decide to sell it or not, the offer means that you're doing something right. :thumbsup

hmmmmm. I'd take the money and continue to work there. They said they would give you a handsome salery to continue on with the company??

People may feel like they are their own bosses but at the end of the day we all work for someone. Either a customer or an owner. Not enough difference if the offer is a fair one.

congrats!!! you must be making a lot of lsd, damn....

Too bad you have to split it, big differance between 1.4 million and 500k :Oh crap

congrats, are you going to sell out and work for your company ?

J/W

500k lump sum + salary is still nice, LoL

Buy the other two guys out...
and...

that should be a great deal already. good luck whatever you decide on.

can't wait to see what you decide on,.. must be a hard decision ?