Ecommerce and auctions for physical goods is a maturing space in the online world, but when you want to sell a business itself or a digital good it is much less evolved. Our guest today, Blake Hutchison, CEO of Flippa, is working to change that. Flippa has a suite of tools on its platform to help streamline these transactions and help buyers and sellers with these sometimes complicated transactions. They recently completed an $11M Series A raise led by OneVentures to expand their buying and selling options and to offer new ways to support the community.
About Blake Hutchison:
Blake leads the team at Flippa, the leading marketplace globally to buy and sell sites, stores, and digital properties. Flippa was started in Melbourne in 2009 and he joined the team in 2018. Prior to Flippa, Blake held roles at various companies, including Xero, Good44, and Lonely Planet.
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In this episode we discuss:
03:15 The current state of online marketplaces and why they have seen such explosive growth
04:15 How the marketplace worked prior to Flippa
07:04 What is the right size of deal for a site like Flippa
09:36 What buying and selling actually is like when using Flippa
13:39 How Flippa helps qualify buyers to help maximize sellers time
15:22 Other ways Flippa brings trust into the marketplace
16:42 Why most sellers are not prepared to sell at the beginning of the process
19:02 Why digital marketplaces like Flippa are more trustworthy than private sellers
20:10 Statistics from recent sales on Flippa
23:57 Are rollup funds and other institutional buyers using Flippa
24:57 How Flippa differentiates itself from other competition
29:42 How Flippa fits into the early stage VC model
31:02 Future features for Flippa
32:44 How Flippas large user base is an asset for the company and community as a whole
34:12 Plans for crypto on Flippa
34:49 What their $11M Series A will mean to them
Don’t peak when you’re 18.