Last modified: 2nd March 2023
This Website is offered and available to users who are 18 years of age or older. By using this Website, you represent and warrant that you are of legal age to form a binding contract with the Company and meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, you must not access or use the Website.
Part 1: Terms Governing Use of the Website
The Website’s Services
Our Website is an online marketplace that connects sellers of businesses to potential buyers of businesses. The information provided on the Website is for our users’ internal business purposes only.
What the Website Does Not Do
BitsForDigits does not, itself, buy or sell any of the businesses listed on the Marketplace. Our Website does not include any advice or counsel with regards to any financial, legal, or related service of any kind. BitsForDigits is not a broker and may not perform services performed by a broker. BitsForDigits and the Website are not a substitute for the advice or services of a broker.
The Agreement formed between the buyer and seller of a business is solely between the buyer and seller. BitsForDigits is not a party to the transaction, and it is not responsible for the sale of any businesses available on the Website. BitsForDigits assumes no responsibility arising out of or in connection with such sale.
Types of Users and Transactions that we allow on the platform
Locations. We do not perform business or service any customers located in any U.S. sanctioned country.
Deal Structures. BitsForDigits allows for the purchase and sale of assets only on the platform.
No Securities. We do not promote, encourage, solicit, or facilitate the sale of Securities on the platform in any way. We actively monitor the platform to ensure that no Securities are being purchased or sold on our platform. If we determine that You are promoting, encouraging, or facilitating a Securities transaction or are engaged in a Securities transaction on the platform, we will remove You effective immediately. Such Securities transactions include, but are not limited to, the following:
We reserve the right to disallow any transaction or remove any user from the platform for any reason not explicitly stated in this section, including, but not limited to, whether the transaction or user would violate any applicable law, regulation, or statute.
Success Fee Disclosure. BitsForDigits has entered into written agreements with Acquirers under which BitsForDigits may take a certain percentage of the final sale price of an acquisition attributable to the platform. By accepting the Agreement, You hereby agree and acknowledge that BitsForDigits has disclosed such referral fee arrangement to You and that You consent to the same.
Partner Compensation Disclosure. In some instances, We may give You the option to finance the acquisition of a startup on the BitsForDigits Marketplace, or otherwise assist You in the purchase or sale of a startup on the BitsForDigits Marketplace, by using one of our trusted partners. In some instances in which You use one of these partners, the partner may pay a referral fee of some amount to BitsForDigits in consideration of the introduction. By accepting the Agreement, You hereby agree and acknowledge that BitsForDigits has disclosed such referral fee arrangement to You and that You consent to the same.
Seller General Representations and Obligations
If you are a seller, BitsForDigits requires that you provide complete and accurate information about your business. BitsForDigits reserves the right to remove your listing, in its sole discretion, if it believes any of the information is incomplete or inaccurate. BitsForDigits will try to notify you if your listing has been removed.
For each listing you provide, you represent and warrant to BitsForDigits that:
Disclaimer - User Responsibilities
Buying or selling a business requires investigation and due diligence. BitsForDigits reviews listing details and liaises with potential sellers where appropriate. However, BitsForDigits cannot guarantee whether a listing is suitable for a potential buyer, or whether any businesses listed on the Website will meet the performance expectations of a buyer. BitsForDigits is not responsible for the seller's truthfulness regarding the existence, quality, accuracy, or completeness of any listing on the Website. As a buyer, you are solely responsible for researching any potential purchase of a business listed on the Website and confirming that details provided in a listing are true and accurate.
As a seller, you are responsible for ensuring the buyer is in a position to purchase partial ownership either as a primary investor or secondary buyer.
It is your responsibility to consult with tax and legal counsel before undertaking any purchase or sale of a business.
Accessing the Website and Account Security
We reserve the right to withdraw or amend this Website, and any service or material we provide on the Website, in our sole discretion without notice. We will not be liable if for any reason all or any part of the Website is unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Website, or the entire Website, to users, including registered users.
You are responsible for both:
If you choose, or are provided with, a user name, password or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to this Website or portions of it using your user name, password or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.
Additionally, you agree not to:
Changes to the Website
We may update the content on this Website from time to time, but its content is not necessarily complete or up-to-date. Any of the material on the Website may be out of date at any given time, and we are under no obligation to update such material.
Information About You and Your Visits to the Website
Linking to the Website and Social Media Features
You may link to our homepage, provided you do so in a way that is fair, legal, and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part without our express consent.
This Website may provide certain social media features that enable you to:
You may use these features solely as they are provided by us, solely with respect to the content they are displayed with, and otherwise in accordance with any additional terms and conditions we provide with respect to such features. Subject to the foregoing, you must not:
You agree to cooperate with us in causing any unauthorized framing or linking immediately to cease. We reserve the right to withdraw linking permission without notice.
We may disable all or any social media features and any links at any time without notice in our sole discretion.
The owner of the Website is based in Germany. We make no claims that the Website or any of its content is appropriate outside of Germany. Access to the Website may not be legal by certain persons or in certain countries. If you access the Website from outside of Germany, you do so on your own initiative and are responsible for compliance with local laws.
When you use the BitsForDigits Website or send e-mails, text messages, or other communication from your desktop or mobile device to us, you are communicating with us electronically. We will communicate with you electronically in a variety of ways, such as by e-mail, text, or communication via our discussion forum. You consent to receive communications from us electronically and agree that communications that we provide to you electronically satisfy any legal requirement that such communication be in writing.
Part 2: Terms Governing User Generated Content
The Website may contain message boards, chat rooms, personal web pages or profiles, forums, bulletin boards, and other interactive feature (collectively, "Interactive Services") that allow users to post, submit, publish, display or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Website.
Any User Contribution you post to the site will be considered non-confidential and non-proprietary. By providing any User Contribution on the Website, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors and assigns the right to use, reproduce, modify, perform, display, distribute and otherwise disclose to third parties any such material according to your account settings.
You represent and warrant that:
You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy and appropriateness.
We are not responsible, or liable to any third party, for the content or accuracy of any User Contributions posted by you or any other user of the Website.
Import Information from Third Parties as User Contributions
Certain features of our Website may allow you to import information from third-party tools and applications, such as Stripe and Google Analytics, and display such information to certain users or visitors of the Website. Such imported information is also User Contribution and shall be subject to the terms and conditions concerning User Contribution.
You acknowledge and agree that, by signing in your account with such third-party tools and applications on the authorization page or providing us with your API Keys, View IDs or similar access codes on such third-party tools and applications, you are granting us access to information in your accounts with such third parties, authorising us to import certain information from such third parties to the Website as User Contribution and displaying such information to certain users and visitors of the Website who have been authorised to access such imported information.
Monitoring and Enforcement; Termination
We have the right to:
Without limiting the foregoing, we have the right to fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity or other information of anyone posting any materials on or through the Website. YOU WAIVE AND HOLD HARMLESS THE COMPANY AND ITS AFFILIATES, LICENSEES AND SERVICE PROVIDERS FROM ANY CLAIMS RESULTING FROM ANY ACTION TAKEN BY ANY OF THE FOREGOING PARTIES DURING OR AS A RESULT OF ITS INVESTIGATIONS AND FROM ANY ACTIONS TAKEN AS A CONSEQUENCE OF INVESTIGATIONS BY EITHER SUCH PARTIES OR LAW ENFORCEMENT AUTHORITIES.
However, we cannot review all material before it is posted on the Website, and cannot ensure prompt removal of objectionable material after it has been posted. Accordingly, we assume no liability for any action or inaction regarding transmissions, communications or content provided by any user or third party. We have no liability or responsibility to anyone for performance or non-performance of the activities described in this section.
These content standards apply to any and all User Contributions and use of Interactive Services. User Contributions must in their entirety comply with all applicable federal, state, local and international laws and regulations. Without limiting the foregoing, User Contributions must not:
If you believe that any User Contributions violate your copyright, please email a notice of copyright infringement to email@example.com. It is the policy of the Company to terminate the user accounts of repeat infringers.
Reliance on Information Posted
The information presented on or through the Website is made available solely for general information purposes. We do not warrant the accuracy, completeness or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We fully disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Website, or by anyone who may be informed of any of its contents.
This Website may include content provided by third parties, including materials provided by other users, bloggers and third-party licensors, syndicators, aggregators and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Company. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.
BitsForDigits is not a registered broker-dealer or investment adviser. Users are solely responsible for setting a desired valuation for their listed business. To help users determine an appropriate price, BitsForDigits offers a valuation tool. Users acknowledge and agree that any valuation range produced by the BitsForDigits Valuation Tool is an estimate and for informational purposes only and must not be construed as or relied upon as a professional valuation, and therefore the Valuation Tool does not constitute investment advice. Users acknowledge and agree that any valuation range produced by the BitsForDigits Valuation Tool is not a recommendation nor judgment as to whether or not to buy or sell the business being valued. The valuation range is generated by a purely mechanical mathematical model in reliance on available data provided by the user. Without an in-depth analysis of the business and without having regard to market conditions or features which may affect the value of the business, the output of the formula is inherently imprecise. Thus the valuation range produced by the Valuation Tool is not a recommendation as to whether or not to buy/sell the business under any valuation provided. The Website does not become involved in the negotiation of terms for the purchase or sale of businesses connected to the use of the Valuation Tool.
Part 3: Additional Legal Terms
Intellectual Property Rights
The Website and its entire contents, features and functionality (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection and arrangement thereof), are owned by the Company, its licensors or other providers of such material and are protected by European and international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws.
You must not:
You must not access or use for any commercial purposes any part of the Website or any services or materials available through the Website.
If you wish to make any use of material on the Website other than that set out in this section, please address your request to: firstname.lastname@example.org.
Links to other websites
If the Website contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third party websites linked to this Website, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.
The Company name and all related names, logos, product and service names, designs and slogans are trademarks of the Company or its affiliates or licensors. You must not use such marks without the prior written permission of the Company. All other names, logos, product and service names, designs and slogans on this Website are the trademarks of their respective owners.
Disclaimer of Warranties
You understand that we cannot and do not guarantee or warrant that the Website will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data. We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of the website or any services or items obtained through the website or to your downloading of any material posted on it, or on any website linked to it.
Your use of the Website, its content and any services or items obtained through the Website is at your own risk. The Website, its content and any services or items obtained through the Website are provided on an "as is" and "as available" basis, without any warranties of any kind, either express or implied. Neither the Company nor any person associated with the Company makes any warranty or representation with respect to the completeness, security, reliability, quality, accuracy or availability of the Website. Without limiting the foregoing, neither the Company nor anyone associated with the Company represents or warrants that the Website, its content or any services or items obtained through the website will be accurate, reliable, error-free or uninterrupted, that defects will be corrected, that our site or the server that makes it available are free of viruses or other harmful components or that the website or any services or items obtained through the website will otherwise meet your needs or expectations.
The Company hereby disclaims all warranties of any kind, whether express or implied, statutory or otherwise, including but not limited to any warranties of merchantability, non-infringement and fitness for particular purpose.
The foregoing does not affect any warranties which cannot be excluded or limited under applicable law.
Limitation on Liability
To the fullest extent provided by law, in no event will the Company, its affiliates or their licensors, service providers, employees, agents, officers or directors be liable for damages of any kind, under any legal theory, arising out of or in connection with your use, or inability to use, the Website, any Websites linked to it, any content on the Website or such other Websites or any services or items obtained through the Website or such other Websites, including any direct, indirect, special, incidental, consequential or punitive damages, including but not limited to, personal injury, pain and suffering, emotional distress, loss of revenue, loss of profits, loss of business or anticipated savings, loss of use, loss of goodwill, loss of data, and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.
The foregoing does not affect any liability which cannot be excluded or limited under applicable law.
Governing Law and Jurisdiction
Limitation on Time to File Claims
Waiver and Severability
Your Comments and Concerns
This website is operated by BitsForDigits, Luisenstraße 53, 10117 Berlin, Germany.
All notices of copyright infringement, other feedback, comments, requests for technical support and other communications relating to the Website should be directed to: email@example.com.
Part 4: Digital Product Terms and Conditions of Sale
(the “Digital Products”)
Our current pricing schedule for subscription to the Website can be found here.
WE RESERVE THE RIGHT TO MODIFY OR INCREASE OUR SUBSCRIPTION FEES AND THE SERVICES OR ACCESS PROVIDED IN EXCHANGE FOR SUCH SUBSCRIPTION FEES IN OUR SOLE DISCRETION AT ANY TIME AND IN OUR SOLE DISCRETION, WITH OR WITHOUT ADVANCE NOTICE TO YOU. WE WILL PROVIDE ADEQUATE WRITTEN NOTICE TO YOU OF ANY PRICE CHANGES AS OF ITS EFFECTIVE DATE, AND SUCH PRICE CHANGE SHALL BE APPLICABLE FROM THAT DATE FORWARD.
If you successfully acquire a business from a seller that has engaged with you or who you discovered on the Website, You agree to pay BitsForDigits a success fee, calculated as a percentage of the final sales price. You can find the then-active success fee schedule here. Like our subscription fee schedule, we reserve the right to change the success fee at any time, with or without notice to you, and will provide you with adequate notice of such changes. The then-current success fee shall be applicable to purchases and sales from the date of such adequate notice forward, regardless of when You and a seller on the website began acquisition discussions or negotiations.
Digital Subscriptions. In addition to getting access to our Digital Products one at the time, we offer additional Services to you subject to additional fees and/or terms as a “Subscription Service”. By signing up for a Subscription Service, including after any free trial period, you agree to pay us the subscription fee as set forth in your account settings or as otherwise agreed in writing (“Subscription Fee”) as and when due. Subscription Fees are listed on our Fee Schedule.
Subscription Fees may be paid by debit or credit card. If you link a debit or credit card to your account, you authorise us to collect Subscription Fees by debit from your linked debit card or charge to your linked credit card. Regardless of payment provider used, we reserve the right to collect Subscription Fees by deduction from your linked bank account.
Unless otherwise provided for by the Subscription Service’s terms, Subscription Fees will be charged annually or semi-annually on the date of initiation until cancelled. You may cancel a Subscription Service at any time from your account settings. If you cancel a Subscription Service, you will continue to have access to that Subscription Service through the end of your then current billing period, but you will not be entitled to a refund or credit for any Subscription Fee already due or paid. We may immediately terminate or suspend your subscription or access to a Subscription Service at any time for any reason or no reason. The cancellation, termination or suspension of your subscription or access to such Subscription Service shall not affect your liability or obligations under this Agreement.
As stated in this Agreement, we have the right to change, delete, discontinue or impose conditions on Subscription Services or any feature or aspect of a Subscription Service. We also reserve the right to change our Subscription Fee upon thirty (30) days’ advance notice. Your continued use of Subscription Services after notice of any such changes will constitute your agreement to such changes.
Ownership. All Digital Products available through this site are owned by us and protected by intellectual property rights.
Any access or use of Digital Products, individually or through subscriptions purchased through this site is subject to these terms. Upon payment of the price of the Digital Product or Subscription Fee we grant you a non-exclusive, non-transferable license to use the Digital Product with these terms of sale.
You agree that you will not redistribute, transmit, assign, sell, broadcast, rent, share, lend, modify, adapt, edit, sub-license or transfer any Digital Products available through this site (individually or through subscriptions) in any manner other than explicitly described in these Terms. Nothing in these terms grants to you any rights other than those expressly set out herein. These terms do not grant to you any rights in relation to the synchronization, public performance, promotional use, commercial sale, resale, reproduction, distribution or commercial exploitation of any Digital Product.
We can obtain injunctive relief against you, in addition to all other remedies that we may have, to enforce these terms of sale and to prevent your unauthorized use of this site and/or Digital Products.
Downloads of Digital Products are capable of being downloaded to and stored on the hard drive of your computer and then exported, burned or copied. You must adhere to any and all usage restrictions that apply to the Digital Product as set out in these terms.
To prevent unauthorized use, Digital Products may carry a digital watermark that allows us to identify the origin of the Digital Product and track any subsequent unauthorized transfer. You agree to not attempt to remove the watermark or circumvent the security technology in any way.
Requirements to access the Digital Product Services
In order to access and download Digital Products you will need:
You acknowledge and agree that the provision of all these requirements is your responsibility and is at your own cost. You are also responsible for ensuring that any hardware you use to download and/or access Digital Products functions correctly with this site.
You acknowledge that due to industry/technology developments, the nature of the Digital Products offered (including format of files, operating systems, downloading software etc) and the system requirements may change from time to time.
Placing an order
After placing an order for a Digital Product via our site, you will receive an on screen message and e-mail from us setting out the details of your order and acknowledging that we have received your order.
The contract for the purchase of any Digital Product will be between you and us and will only be formed when we make the Digital Product available for access and/or download and we have received payment in full for the Digital Product. Until we make the Digital Product available for access and/or download and receive payment in full there is no contract between you and us for the Digital Products. We reserve the right, in our sole discretion to reject any order we receive.
Price and payment flow
We shall determine in our discretion from time to time whether and which Digital Products are to be made available free of charge, on payment by you of the relevant price or in return for some other consideration (for example by signing up to a mailing list).
The price of any Digital Product will be as quoted on this site at the then current time, except in the case of obvious error. We will not accept any offers for Digital Product other than at the then current price. Digital Product may be purchased individually, or through subscription. We reserve the right to make certain Digital Products available only as part of a larger product.
We use our best efforts to ensure the prices of Digital Products displayed on our site are correct. However, it is always possible that, despite our best efforts, some of the Digital Products listed on our site may be incorrectly priced. If a Digital Product’s correct price is higher than the price stated on our site at the time you placed your order and we have not yet taken payment and made the Digital Product available for your access we will normally, at our discretion, either contact you for instructions before making the Digital Product available (i.e. to confirm your order and that you wish to proceed at the correct price), or reject your order and notify you of such rejection.
We are under no obligation to provide the Digital Product to you at the incorrect (lower) price if the pricing error is obvious and unmistakable and could have reasonably been recognized by you as a pricing mistake. We reserve the right to withdraw from any contract for Digital Products in the case of obvious and unmistakable pricing errors.
Prices for Digital Products are liable to change at any time, but changes will not affect orders in respect of which we have already taken payment and made the access available.
Payment for all Digital Products must be by credit or debit card or Paypal. We accept the credit and debit cards displayed on the payment page of our site.
By providing the details of a credit or debit card to be billed or payment account to be debited for payment of the price due, you confirm that you are authorised to purchase the Digital Products and that you are the holder of the relevant credit or debit card or of the relevant payment account or are expressly authorised to use such. All card payments and card holder details may be subject to validation checks by us and the card issuer.
All credit/debit card holders are subject to validation checks and authorisation by the card issuer. If the issuer of your card refuses to authorise payment we will not accept your order and we will not be liable for any delay or non-delivery and we are not obliged to inform you of the reason for the refusal. We are not responsible for your card issuer or bank charging you as a result of our processing of your credit/debit card payment in accordance with your order. Should there be a problem with your payment we will contact you to discuss the next steps.
Cancellation of an order
You may not cancel an order by you for any access and/or download of a Digital Product once it has been made available for access and/or download by you. Each purchase of a download shall be deemed a final, non-exchangeable, non-refundable sale.
Termination of your account
If you are in breach of, or we suspect you are in breach of, these Digital Product Terms then we may take any/all of the following actions:-
The actions described above are not exhaustive and we may take any action we reasonably deem appropriate.
Transfer of rights and obligations
Neither you nor we may transfer, assign, charge or otherwise dispose of a contract for Digital Products, or any rights or obligations arising under it, without the other’s prior written consent. You agree however that we may sub-contract our obligations (for example contracting with a third party company to deliver the Digital Product) provided that we remain responsible to you for the performance of the contract.
Events outside our control
We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under a contract for a Digital Product that is caused by events outside our reasonable control (Force Majeure Event).
A Force Majeure Event includes any act, event, non-happening, omission or accident beyond our reasonable control and includes in particular (without limitation) strikes, lock-outs or other industrial action, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport, impossibility of the use of public or private telecommunications networks and/or the acts, decrees, legislation, regulations or restrictions of any government.
Our performance under any contract will be suspended for the period that the Force Majeure Event continues, and we will have an extension of time for performance the same as the duration of that period. We will use our reasonable endeavours to bring the Force Majeure Event to a close or to find a solution by which our obligations relating to the Digital Products may be performed despite the Force Majeure Event.
Our right to vary these terms and conditions
We have the right to revise and amend these Terms from time to time including to reflect changes affecting our business, changes in technology, changes in licensing arrangements, changes in payment methods, changes in relevant laws and regulatory requirements and changes in our site’s capabilities.
You will be subject to the policies and terms and conditions of sale in force at the time that you order Digital Products from us, unless any change to those policies or these terms is required to be made by law or governmental authority (in which case it will apply to orders previously placed by you), or if we give you reasonable notice of the change to those policies or these terms and conditions of sale before we confirm your order (in which case we have the right to assume that you have accepted the change to the terms and conditions, unless you notify us to the contrary within seven working days of receipt by you of the Digital Products or our entering into the contract for the Digital Products (as applicable)).
Questions or Complaints?
If you have any queries at all regarding this site, the products featured on the site or any of the terms, please do not hesitate to contact us via e-mail at firstname.lastname@example.org and we will be more than happy to assist you.