Dividend tracking app is making $262k a year
120k users, 73% margin and it's for sale at $650k.
Hello everyone, and happy Thursday,
Dividend investors are some of the stickiest users on the internet. They’re just like day traders, but they actually have some degree of patience, or at least they think so. Once someone commits to an app, they defend it like a religion and show it off to all their other investor friends.
Today’s deal is a freemium dividend-focused portfolio tracker. You connect your brokerage, and it shows your dividend income, yield, upcoming payouts, and projects your future income. Bootstrapped, and founders want to move on.
Asking $650k, 3.4x profit, 2.5x revenue
TTM revenue $262k, TTM profit $191k, 73% margin
Last month: $19.9k revenue, $11.5k profit
Churn 5-10%, 3,000+ paying customers
120,000+ users in the database, founded June 2021
Laravel, Vue, and Flutter stack with brokerage integrations
If you’re new here, we analyze the deal flow and market trends we come across. Looking to buy or sell? Reply to this piece.
In short
The financials are declining. Annualize last month’s numbers, and you get $239k revenue and $138k profit, both below the trailing year. So it isn’t 3.4x. On run-rate profit, you’re paying 4.7x.
Margin fell from 73% to 58% in a few months, a 15-point drop that’s probably the new AI feature burning cash or a sharp decline in users.
ARPU is ~$5.30 a month. You can’t buy users at that price, so it runs on free traffic alone, and the traffic is flat.
The niche is crowded with cheaper rivals, and the brokerages already do this for free. Integrations and data feeds cost a fortune to run, so it’s at a disadvantage.
The primary asset is the list of 120,000 income investors, and there may be an opening to introduce social features or a media front to monetize attention.
I’d pass at $650k. Comps sit at ~2.8x profit. There’s a deal only far lower, seller-financed, and only for a buyer who can do something with the list.
The listing is anonymized, so I can’t share month-by-month trends, but last month it generated $19.9k in revenue and $11.5k in profit. Annualize those, and you get about $239k and $138k, both below the seller's trailing figures of $262k and $191k. The financials are declining.
The listing references 3.4x trailing profit, which would be fair if it were true. But pay $650k against $138k of run-rate profit, and your actual multiple is 4.7x. I’d bet the multiple is even higher against the most recent months.
