Startups Spent about 500k and 1.5 years developing an app, how can I sell the source code? |
- Spent about 500k and 1.5 years developing an app, how can I sell the source code?
- What is the best path to gain experience for building a startup in the future?
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| Spent about 500k and 1.5 years developing an app, how can I sell the source code? Posted: 07 Oct 2018 01:45 PM PDT Hi guys, a little back story. In June 2017, my college roommate and I dropped out of College to start an on-demand delivery app. We hijacked our college funds and dabbled in the market for a bit to get some starting cap. At some point we also raised 250k post MVP and dumped it all into dev and ops. We got some descent traction, about 10k users and 60k in gmv within the first 6 months with practically no marketing spend and just growth hacking. However the food delivery game sucks, the unit economics are atrocious, and it's very capital intensive, especially a 1099 model similar to the ubers or the doordashes. Essentially we didn't want to burn through all our money in hopes of getting vc funding, so we came to a pivot using our API and going b2b with a new model that doesn't involve a consumer facing app. The reason why I am even trying to sell the source code for the app itself is to raise more $$ for my current business which is a 3pl (3d party logistics) The app itself is really clean, we had some great retention (about 60% growth MoM for monthly actives) and a low CAC of about $4. The metrics were good, we had the demand, even the drivers were staying on board more than the industry averages for driver turn. You can literally repurpose the app/api to function in many different uses cases. For example an e-commerce store (we pivoted at some point and were selling our own bulk inventory through the app) so you can list your own inventory, upload pics/prices. You can also use the app if you're a restaurant, or if you want to start your own delivery business. We hooked up the foursquare api, or you can upload your own custom menus if you're a restaurant. There's also a driver facing app where you can assign drivers for the order and route them to the customer, or simply ship the order to the customer if you're an e-com store. We can rebrand everything for the business and offer support obviously, etc. We also have our website that's also hooked up with the API so all the inventory or whatever it is you're selling through the app, customers also can add items and checkout/pay on the website. Here is the tech stack: -RESTfulAPI -React Native app with Flask (Python) backend. -React website connected with the API - Freelancer facing app Features include: -FB log in/signup -Stripe Payments/payment logic -Google API/Directions API -Browsing categories, adding items to cart, checkout, payments, contact support, etc. -Post checkout routing consumer facing so you know where your order is like on Uber map and can contact freelancer. You can checkout doordash, or Wish or any of those apps to get an idea of what our app is like. Anyway my question is where is the best place to sell the source code, we can obviously brand everything/custom inventory for the customer (e-com store, restaurant, or a delivery business) How do you usually go about selling the app/api/ or parts of the app. Any tips or advice is highly appreciated, thanks guys! Edit: To clear it up guys not looking to sell for the price I've put in obviously. We're selling parts/integrations/set up/support from 5k-10k just need some coin to fund the current project. [link] [comments]  |
| What is the best path to gain experience for building a startup in the future? Posted: 07 Oct 2018 10:30 PM PDT Greetings here is my story short i'm 25 years old mobile software developer with entrepreneurial background . 4 years ago i started a startup in (software field) and after a year it failed miserably due to lacking building skills , then i was a co-founder for another startup (hardware field) and it failed also miserably after a year due to management failure , then i worked as self-employed for a while as software developer and volunteered in many different areas around the world to understand the world's problems (poverty , climate change , education , etc).. . what i have leant from my previous experiences that there is so much to learn before thinking about starting another startup such as marketing , management , technical skills , right now i don't have a meaningful idea for a startup that i believe in that reduces suffering in this world and still searching for one. right now i have few options on the table 1- do masters degree in CS ( to expand my technical skills for AI applications) 2- find a job in any existing startup in order to gain more practical experiences (never worked for a company before) 3- create online small-size business (not a startup just for sake earning money and having freedom) i feel like being stuck i want to do meaningful things in this world and i believe being an Entrepreneur is about creating solutions to make people lives easier and to reduce suffering in this world and i'm extremely passionate about building products but i don't know what to build and what is the best way to be ready when the opportunity knocks on my door . Looking forward hearing from you guys all suggestions are welcomed . [link] [comments]  |
| Posted: 07 Oct 2018 04:41 PM PDT So I've done a startup business with a former classmate of mine a few years ago that did relatively successful, but now I'm trying to get into the gaming industry but I have no idea where to go or what to do. I want to start a company that creates ios games but I don't really know what the best way to go about doing that is. Do any of you guys have recommendations on the best way to go about doing this? The main problem I have is funding and building a team of developers/designers to create a game. [link] [comments]  |
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