Frequently Asked Questions.

Does BitsForDigits charge any fees?

None. The marketplace is provided 100% free of charge.

Are company listings and capital profiles on BitsForDigits private?

Yes. All company listings and capital profiles made by sellers and buyers are anonymised, meaning names will not be externally displayed on the platform. Instead, unique identifiers are used to reference individual company listings and capital profiles.

Does BitsForDigits broker deals?

No. This is a contact medium that directly facilitates the exchange of phone number digits for bits of information. Of course, the aim is to indirectly facilitate the selling and buying of internet companies’ equity bits for digits on a check. 

Who can reach out to whom on BitsForDigits? 

Buyers can reach out to any seller about their company listing. Conversely, sellers can only reach out to buyers if their company listing matches their search criteria and if buyers have agreed to be contacted. 

Do business owners commit to selling their company by listing on BitsForDigits?

No. Business owners can list their internet companies without committing to anything other than to find out how much buyers are willing to offer. 

How does BitsForDigits put sellers and buyers in contact with each other?

The seller will have put down their preference for how they wish to be contacted by buyers, for example by phone. So when a buyer requests to be put in touch with a seller, we will provide them with a way to reach them, for example the seller’s phone number. Conversely, when a seller wants to reach out to a buyer with matching company search criteria, we will provide their LinkedIn profile.

How much information do I need to share publicly on the platform?

As a seller, you only have to share a brief description of your business, business model, product category and reason for selling. Company metrics are not mandatory but without them you will not be able to proactively reach out to potential buyers. Also, the more metrics you share on your listing, the more attention your listing is likely to get. Similarly for buyers, descriptions, expertise and experience are mandatory. Company criteria are optional and only used if you make your capital profile discoverable to sellers.

Do you offer any vegan options?

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Do you offer any gluten free options?

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Can I clone these sections?

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Why is Webflow so amazing?

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Do we need to write a business plan?

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How can we get funding for our start up?

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Do you offer any vegan options?

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Do you offer any gluten free options?

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Can I clone these sections?

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Why is Webflow so amazing?

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Do we need to write a business plan?

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How can we get funding for our start up?

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Which online businesses should list on BitsForDigits?

BitsForDigits is dedicated private internet companies of all sizes and categories including start-ups and scale-ups in SaaS, eCommerce, mobile, FinTech, content, crypto, agencies and, of course, marketplaces.

Investors look for cashflow positive companies, meaning businesses that generate revenue, and founders can list as much ownership as they'd like to sell. Business owners also choose which offers to accept from investors and potential business partners interested in buying in to grow their venture.

Does BitsForDigits charge any fees?

None for founders. The platform is provided 100% free of charge for founders meaning no listing fees, membership subscriptions or commission charges apply to them. The same is true for investors with the exception of the success fee which applies only when a successful deal is sourced from the Marketplace (this fee is to be paid by the buyer as a % of the transaction amount separate from the agreed equity price with the seller).

Both founders and investors can create free accounts and upgrade to Premium at no extra cost simply by either listing their business or making their profile on the Marketplace. Our focus is to help start conversations that lead to win-win deals and in the future we plan to offer more premium services to further aid the partnership process of buying and selling of business ownership.

Are business listings and investor profiles on BitsForDigits private?

Yes. Not a single business listing or investor profile hold any personal data on the seller or buyer on the Marketplace. In short, all sign-ups are confidential and everything is anonymised when submitted and published to the platform. The founders have the chance to reveal their business' identity to an investor in the chat if they choose to, but are of course not obligated to do so. The same is true for investors.

Can online businesses get funded on BitsForDigits?

No. BitsForDigits only helps introduce founders and investors for secondary transactions. That means the money will be transferred from the investor directly to the founder in exchange for equity, as opposed to go to the company to help grow the business. To read more about the difference between primary and secondary shares, read our article here.

Does BitsForDigits broker deals?

No. BitsForDigits is a platform serving as a medium of contact between both sides of the platform to facilitate introductions and help start conversations that lead to equity partnerships. That said, we want to grow our service offering to help facilitate the exchange of online business bits for checkbook digits by bringing more of the transaction process on to the platform.

Does BitsForDigits offer help with contractuals and due diligence?

No. BitsForDigits does not yet hold the expertise to directly advise on idiosyncratic case-by-case legal nor financial matters. In addition to offering an infrastructure to discover, connect and negotiate deals, we offer free resources to get help both parties off to a good start. This includes legal templates like NDAs, LOIs, Equity Partner and Shared Earnings Agreements. All due diligence and legal questions are to be shouldered by the two transacting parties, and we as a general rule of thumb recommend seeking support from third parties such as lawyers and advisors.

Who can reach out to whom on BitsForDigits?

Vetted investors who with a Premium membership (don't worry, it's free to upgrade) who have made their investor profile can reach out to any founder with a listed business on the Marketplace. Conversely, founders can reach out to investors who have their profile published on the Marketplace. 

Can digital assets be bought and sold on BitsForDigits?

No. BitsForDigits is not intended for full buyout acquisitions of any asset types. There are countless marketplaces for buying 100% ownership in a business.

Do founders commit to selling company stakes by listing their business on BitsForDigits?

No. Business owners can list ownership for sale in their internet company without committing to anything other than finding out how much buyers are willing to pay. It's free to create an account and anonymous to list a business so there is no downside risk of doing so if nothing but just out of curiosity to find out how much cash a founder could take off the table if they chose to liquidate X % equity to an investor.

How does BitsForDigits put founders and investors in touch?

Founders and investors can engage in direct messaging via the in-app chat functionality on the platform. This is anonymous but of course, you can switch to another channel such as emails or calls once negotiations progress. Both founders and investors will have to make their respective business listings and investor profiles on the Marketplace to unlock the chat feature. This allows all members of the community to have an idea of who they are speaking to and helps us vet everyone before they get to message our members.

How much information do I need to share when listing my business or making my profile?

Founders of profitable online businesses need to share a brief description of their business, which kind of investor they are looking for and reason for selling, plus a few operational and financial details. The more accurate and detailed information is shared on a listing, the more serious investors will be when reaching out. As a consequence, founder can avoid answering the same boneheaded questions over and over. It's about attracting the right kind of attention and indeed the right type of investor profile when doing equity partnerships. Trying to hide details and leaving metrics blank to get more offers is a bad tactic as it wastes both parties' time. Buyers will always uncover the truth during due diligence anyway.

Investors will need to enter mandatory information including a short bio, area of expertise and intended involvement on a cap table of an SMB upon buying in. Investors can opt out of being proactively contacted by founders on the Marketplace and only have it be a one way street where they reach out to business owners of interest.