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Retweet.com Sold for $250,000 on Flippa.com

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Retweet.com Sold for $250,000 on Flippa.com Powered By Docstoc
					Retweet.com Sold for $250,000 on Flippa.com
Retweet.com - a service that aggregates Twitter to help people find real-time news on popular
stories - has just sold on Flippa.com for $250,000.
(PRWEB) March 12, 2010 -- With zero revenue but generating millions of visitors every month, the
seven-month-old Retweet.com was the subject of a hotly-contested auction on the Flippa marketplace. The site
received forty-five bids over three weeks before the site finally sold. The knock out bid from an unknown investor
was $48,000 higher than the previous bidder.

 Since Flippa launched its website marketplace in June 2009 there has been a steady increase in the volume and
prices of websites being traded. However, the recent successful sale of Retweet is the highest price paid for a
virtual property in the Flippa.com marketplace.

 Dave Slutzkin, the General Manager at Flippa commented: "The market's growing so fast! We're now seeing
over $400k+ of websites sold every week, and this week will be bigger again. Although it doesn't compare to
other markets such as property and stocks, the significant increases every week show that there are big
opportunities."

 Flippa is one of a growing number of sites that facilitate the trading of virtual property online, otherwise known
as flipping. The auction mechanism is similar to eBay - website owners list their site on Flippa and bidders then
compete for the prize, with the highest bidder winning the auction.

 The term "flipping" was originally coined by property investors. On the Internet, "flipping websites" involves
purchasing existing sites, adding value to them, then reselling them for a profit. However, despite the name, not
all participants on Flippa are actually flippers - many are investors who buy and hold websites as investments that
produce ongoing revenue.

 The high price paid for Retweet seems initially surprising as the business doesn't earn any revenue. Most of the
higher selling sites traded on Flippa are businesses that generate profits, so buyers are able to value these sites as
they would a bricks and mortar business. It appears the new owner of Retweet.com sees significant value in the
domain name, the brand and the large volumes of traffic that the website receives.

 As the leading marketplace for buying and selling websites, Flippa continues to improve functionality to facilitate
large transactions such as the recent Retweet sale. The marketplace is currently in the process of integrating
functionality of the Escrow.com site, to allow buyers and seller to have a higher level of confidence in their trade
in virtual property.

About Flippa.com Pty Ltd:
Flippa.com is the largest global marketplace for buying and selling established websites. It has traded over $30
million in virtual property and presently lists more than 600 new auctions every week.

For more information please visit: http://flippa.com


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Contact Information
Luke Moulton
Flippa.com Pty Ltd
http://flippa.com
+613990908282



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posted:3/12/2010
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