The old fashioned ways of selling a business offline are soon to be extinct. That’s why young CEO Ryan K Schmidt has turned to eBay, “The World’s Online Marketplace”, to commence the sale of GigaPal.com, a discount software website. Schmidt founded GigaPal.com when he was 18 years old, and in less than 8 months he grew the company’s profits by 3,439% to more than $49,496.42. On June 12, 2005, Schmidt will use the popularity of eBay to bring thousands of potential investors to GigaPal’s “winning bidder takes all” auction.
Schmidt is not alone in his strategy. A growing number of business owners are turning to eBay to sell their businesses, and they are finding measurable success. Within the past month on eBay, a U.S. Patent sold for $35,000, an online website for car dealerships sold for $43,988.89, and a network of highly trafficked sites sold for $326,100.00. At the time of this publication, there are over 6,100 live eBay auctions advertising websites and businesses for sale. “eBay® is the perfect medium for selling your business because it offers unmatched buyer and seller protection, it provides for a fast and smooth business transaction, and it brings literally millions of potential buyers together in a healthy, competitive bidding environment,” says Schmidt.
The winning bidder of GigaPal’s 7 day eBay® auction, which begins June 12th, will receive complete ownership of gigapal.com, including all of its assets, an exclusive list of over 200 software suppliers and vendors, innovative marketing ads and campaigns, and much more. Schmidt is also going to give the winning bidder ElectronicBytes.com for free. ElectronicBytes.com is a second discount software website which was built in May to expand GigaPal’s success. Schmidt added that “Selling a business offline is too complicated these days. Before eBay, most business owners were forced to sell their business locally through a small newspaper ad. For individuals like me who have managed to build successful companies, eBay offers a new opportunity.”