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They offered to buy my Rewards App and Fyber account. How much should I counteroffer?

Discussion in 'Mobile Marketing' started by marco2379, May 19, 2015.

  1. marco2379

    marco2379 Junior Member

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    A little background, 2 years ago I developed a Texas Hold'em variant game for Android which allowed players to earn chips by completing offers, downloading other apps, watching videos, etc. The game allowed players to bet their chips in a heads up hold'em match against the in app dealer, without having to fund their accounts with real money or risk losing real money. Since the chips are all payed for by advertisers. Players even had the option of earning chips and going straight to cash out without playing cards, which allowed non poker players to use the app as a rewards program. The game was successful in it's very limited run before Google decided that it qualified as gambling even though no real money was accepted from the player and no real money of the player was put at risk. I appealed twice and in the spirit of Google was denied twice by automated response. In order to salvage my coding efforts, I stripped the poker portion of the app essentially just leaving the affiliate offers and cash out routine and resubmitted it as a strictly rewards app.

    The rewards app was very successful, with revenue of $50-$1,000 daily on semi-autopilot, without spending a dime on advertising. Last year in order to concentrate on some other business ventures I unpublished the rewards app to reduce customer service commitments and it has sat dormant on Google Play only visible to existing users. Even with the app turned off, I still receive revenue from it. I guess you really can't put the genie back in the bottle.

    Fast forward to now, A firm from outside the U.S. wants to buy the application, PHP backend, user list, and my Fyber account. I initially told them that I would not sell the Fyber account because they could simply get their own and plug their affiliate id into the native android code. They were kind enough to inform me that since I have been away from the rewards app market, that Fyber (formerly SponsorPay) no longer accepts new rewards applications, but will continue to support applications such as my poker rewards and rewards apps that have already been grandfathered in. This places a little more value on my Fyber account obviously since the I still have access to a market that isn't allowing new participants.

    Their initial offer was for the rewards app (inclusive of PHP back end, users, and Fyber), but since the poker rewards app is attached to my Fyber account I have to consider selling them as package. I have been offered $2,000 USD for the rewards app and $500 for the Fyber account. I think that they are coming in low with the offer, but I don't how low.

    Some other metrics:
    29,000 Downloads on Google Play
    19,000+ User accounts with legit PayPal email address
    Features: fraud checking (with automatic flagging/banning of suspicious accounts), IP tracking, automatic payout via PayPal, SMS notifications to admin (including end of day earning stats)

    This is my first time seriously considering selling source code, and I appreciate your feedback on the price I should be asking.

    Thank you to all who reply and lend assistance/advice.
     
  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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  3. marco2379

    marco2379 Junior Member

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    Sorry for the long initial post, I put that in the 2nd paragraph - 1st sentence: "The rewards app was very successful, with revenue of $50-$1,000 daily...".

    That was when the app was live. Nominal revenue now that it is unpublished (<$1.00 daily).

    Thanks
     
    Last edited: May 19, 2015
  4. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    Tell them that you haven't think about selling it but $20,000 would be the lowest starting offer you might consider.
     
  5. ronbusiness

    ronbusiness Newbie

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    Marco,
    How much time is involved per day in customer service commitments? Also, $50-$1000 per day is a big gap. What kind of daily average using 6 months - 1 year interval were you getting?
     
  6. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    Those numbers made no sense to me which is why I asked. This has no value as a money revenue stream in it's current state but the App, the backend, the user accounts and his Fyber account are the assets and to me the only real value are the user accts and the App itself.

    I don't see $2,500 there and if I had a firm offer I would be selling at this point.
     
  7. nikchaing

    nikchaing Jr. VIP Jr. VIP UnGagged Attendee

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    If they're serious about that offer then I would take it, and feel fortunate about it.
     
  8. marco2379

    marco2379 Junior Member

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    No real income from the app at the moment, just all the infrastructure in place to simply click a button and turn the machine back on. The Fyber account is probably the real treasure because Fyber is a large network and they are no longer accepting rewards based apps.

    The $50 - 1000 is just the range of daily earnings when the application was live on Google Play.

    Thank you for your feedback
     
  9. royserpa

    royserpa Jr. VIP Jr. VIP Premium Member

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    So you are being offered $2k for an app that makes you $1k a day?!

    Hmm... nope!
     
  10. marco2379

    marco2379 Junior Member

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    Reached an agreement with the potential buyer. Thanks all for your feedback.
     
    • Thanks Thanks x 1