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Escrow.com acquired for $7.5 million!!

Discussion in 'BlackHat Lounge' started by drake_designer, Apr 27, 2015.

  1. drake_designer

    drake_designer Jr. VIP Jr. VIP

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    Freelancer.com acquired Escrow.com for $7.5 million

    A company which has handled 2.2 billion dollars worth of transaction & last year alone generated $5 million dollars in revenue.. I think freelancer got a great deal.. meathead1234 could have sold it for more..

    What do you guys think?
     
  2. resz9

    resz9 Regular Member

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    Wow, meathead1234 is the previous owner? How much he sold it?
     
  3. imaplya

    imaplya Registered Member

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    Unbelievable! I thought escrow would be worth much more than that. Smart move on Freelancer's part.
     
  4. tony_d

    tony_d Elite Member

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    And this, folks, is why I bought Freelancer.com shares by the bundle right after their IPO boomed and then tanked.

    I just think it's going to play a big part in the future of small businesses right around the world - and this is one step closer to that.
     
  5. spacezeus

    spacezeus Power Member

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    meathead1234 are expert on site flipping. I don't think he's the owner.
     
  6. Trepanated

    Trepanated Supreme Member

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    That seems like a very low price.

    Last year they processed $265 million. Even if you assume an average fee of 1% (it will be noticeably more than that), that's a sale price of less than 3 X annual revenue

    For an established, secure business that seems like a bargain
     
  7. host32

    host32 Regular Member

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    Despite the big number of transactions and how much they made from them, escrow.com is a very weak company that is not structured very well, had problems with them over and over again.

    Last year I sold a website for $8000, after the seller deposited the money he decided that the website is not for him and retreated, which was understandable, however after the transaction was cancelled guess what ... they wired the money to me instead of returning it to the buyer who decided no to buy!!!

    10 days later the money showed up in my bank account and they started calling me asking me to return it using a very threatening tone as if I stole it from them or hacked their website and transferred the money to myself!

    And you know what's really irritating ? right after that mistake took place I noticed that the money was transferred to me and I called them immediately to inform them, but they said that I shouldn't worry about it lol

    Sorry about the long rant guys, I never talked about this in an open forum before and I saw this as an opportunity to show you why that company isn't even worth the 7.5 mil
     
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  8. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    But if they are badly structured like that $7.5 million is still a good deal since the new owners can restructure it and make a bigger profit pretty soon.
     
  9. NapsteR

    NapsteR Jr. VIP Jr. VIP

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    This price looks like a steal. But dont think escrow are this dumb to sell it for this cheap. There must be some clauses in deal.