The Internet has enabled all kinds of new businesses from blogs to shops to apps to flourish.
Many of those businesses pull in revenue from consumers, advertisers, affiliates, and more.
To help match business sellers with buyers, Flippa created an online marketplace for businesses and digital assets. And on Monday, the company announced it has raised $11 million.
The company, founded in Melbourne, Australia, has its North American headquarters based in Austin.
Flippa’s Series A round was led by Sydney-based venture capital firm OneVentures. The round also included existing Flippa investor Andrew Walsh (ex-CEO Hitwise, acquired by Experian) and Co-Founders / Investors Mark Harbottle and Matt Mickiewicz – Co-founders of Flippa, as well as 99designs. Flippa’s new investors include Gabby & Hezi Leibovich (Founders of Catch.com.au), Guy King and Bevan Clarke (Founders of RetailMeNot.com), and Tim O’Neill and Tim Fouhy (Founders of Reactive Media).
Flippa sells digital assets like mobile apps, eCommerce stores, blogs, software companies and other online businesses.
Platforms such as Amazon, WordPress, and Shopify enable entrepreneurs and creators to startup and scale their projects into sustainable companies. Flippa gives them a place to sell those businesses.
Flippa has more than 3 million registered users to date. Flippa’s proprietary valuation product and matching algorithm accurately values businesses and matches them directly with qualified buyers.
“In 2009, Flippa invented the space for buying and selling digital businesses and as a bootstrapped startup we’ve achieved #1 status globally,” Blake Hutchison, CEO of Flippa, said in a news release. “We’ve witnessed thousands of success stories, where business owners use Flippa to realize value in their extraordinary efforts. We are now growing into a market network to streamline transactions of all sizes and we’re excited to empower the next generation of entrepreneurs and investors.”
With the funding, Flippa, with 50 employees, plans to hire more than 50 new employees in Melbourne, San Francisco and Austin as well as remotely. It also plans to use the funds to expand its platform product functionality, including scaling the company’s business valuation tool.
