Their offer was a bit low. However, it's not quite as insulting as you may think.
Many bootstrapped SaaS businesses are valued at 3-6x profit (aka "discretionary earnings") [1].
At 3x, your business would be worth $720K, which makes 6% $43,200
At 6x, your business would be worth $1,440,000 which makes 6% equal to $86,400
[1] https://baremetrics.com/academy/how-to-value-a-saas-business
Imagine what the stock price of a company who boasted such dividends would be.
Definitely depends on how much you're making, how fast you're growing, who the buyer is, and why they're buying.
Sure, if some random person/business is buying you to just consume your existing profits, that's about the worst-case scenario you can find.
Is that geocode.xyz?
Entrepreneurship is a mentality. Even if you fail the first one with the accelerator, you grow your horizons and will eventually succeed with the next startup.
https://readwise.io/bookcision https://github.com/tristanh/bookcision
Readers should have access to their own reading data! :)
I've been reading books, mostly fiction, on my phone as I don't presently have a tablet / ereader. I'd like to move away from reading mostly fiction again, highlighting and note taking and all that, but don't have the gumption to launch a research project in to what's available and what works.
Take notes and highlights while reading nonfiction to better connect to the material.
All hooked up to and constantly synced with Readwise for enhanced retention and easy consistent review.
A nice article (I am a fan of anything that supports reading!) but seriously, bootstrapping has been the default since literally forever (i.e. presumably since the beginning of commerce, before the invention of reading). Tons of successful businesses have been built that way, they may just not look that way to you.
Consider that many may be bootrapped businesses that later wanted money to grow more rapidly than organically. As companies like that will have already demonstrated market value and execution ability they can typically get better valuations than just a PPT or a PPT+MVP
You can tell because a bunch of investment firms have recently popped up to try to capitalize on this new wave, like Earnest Capital. https://earnestcapital.com/funding-for-bootstrappers/
Shoot us an email at hello@readwise.io and we'll send you more details.
For us, we're really not that dogmatic about bootstrapping vs VC. VCs are definitely not evil, just optimized for a certain class of business, and probably not in our best interest at our stage.
For another business, VC might be perfect, but in our space we've seen it cause one too many "reading tech" startups to drive off a cliff :)
I think this is great, and where venture capital fails; having real demand and not only focus on growth.
I still buy physical non fiction books because physical ones are just so much more easier to share without worrying about copyright infringement.
Barring physical, I'd use Amazon precisely because it's easier to "lend" someone a book if you're both on the same platform.
I can't tell if this is supposed to be sarcastic or not.
