Sold a license for the code for 5000 USD
Hi IH,
I'm running my side project - https://gifmemes.io/ for around two years now and mostly lost the motivation to be adding more and more features, so I mostly just let it live.
The website makes about 200 USD/month from watermark removals, which I consider pretty good for no-work .
A few days ago, I've managed to get a second rated comment on a hacker news article - https://news.ycombinator.com/item?id=31508009, which lead to around 1 000 hits and got an offer to sell gifmemes.io for 10k USD.
I'm still planning to extend the app with a mobile version this summer, I like the growth I'm seeing and made an emotional bond with the site, so I've refused to sell.
The investor has offered to pay 5000 USD for the code and right to use the code, which I accepted, since his intentions are a little different with mine and his project won't be a direct competition.
Pretty good pocket money, for a full-time university student from central Europe. :)
Congratulations!
Just a little question, how much do you spend in servers?
Hi, almost nothing - I've been using vercel free tier, which I'll probably need to abandon. :D The images are in google cloud storage almost for free. I've been playing with SEO and https load balancer which costs 5 USD and also 5 USD for self-hosting plausible analytics.
I might just do the analytics somewhere else and get rid of the load balancer, to bring it back to 2 USD a month. :D
How is this project doing now that the wave of hackernews is passed?
Congrats! It's always great seeing the fruits of your work.
Can I ask you a few things about the selling process? It would greatly help me in a project I'm working on.
It was fun. We called on meet, made sure that we are both on the same side and then he just paypaled me the money and I sent the zip file. Crypto would be better, since paypal puts the money on hold for a few days and has a large fee.
I need to figure out how to do taxes or something. :D
The investor sad that if we would do a large transaction, he would use some tool I don't remember, but 5k USD was not a large sum for him and said that I've looked trustworthy.
Man for 10k that's like 4+ years of revenue (at the current rate), I'd be hard pressed not to take it. But 5k just for the code for a non-competing service is a no-brainer! Good work!
That's pretty rad dude, congrats on the nice "pocket change" :-)