|SBA Lending: navigating through the borrowing process when you are looking to buy an online business
Earlier this week, FE International Executive Director, Kevin Oh, sat down with Vice President of SBA Lending at Ameris Bank, Jordan Richmond, to discuss how you can utilize SBA loans to acquire an online business. They discuss everything you need to know when considering an SBA loan including financing options, lending requirements, and the loan structure of goodwill transactions. If you are considering using an SBA loan to acquire a business, give it a listen and let us know what you think!
On Wednesday, shares of Slack jumped more than 29% following a Wall Street Journal report that Salesforce has been in talks to acquire the company. This deal would likely value Slack over its current market cap of $17 billion. According to a conference call with Salesforce CEO Marc Benioff back in August, Salesforce wasn’t financially in the position to make any acquisitions. “We’re not in a good M&A environment,” Benioff said. “I just don’t see it. Maybe things could change.”
If the talks pan out, Slack would be the largest acquisition for Salesforce to date. Microsoft had looked to buy Slack in 2016 for around $6 billion, but the deal never finalized. Microsoft released their own messaging service, Teams, later that year. Teams now pose a major thread to Slack’s market hegemony.
Amazon’s internet infrastructure service, AWS, has experienced a major outage affecting a significant portion of the internet. AWS is one of the world’s most widely-used cloud computing services, and any issues can cause a serious effect on web services and apps. Amazon released a statement to The Verge, “Kinesis has been experiencing increased error rates this morning in our US-East-1 Region that’s impacted some other AWS services. We are working toward a resolution.” A number of apps, including Flickr, Roku, Adobe Spark, and Anchor, have taken to Twitter to express how the AWS outage has affected their services, with some apps unable to launch or operate at all.
AWS helped pioneer cloud computing, and currently captures around 45% of the world’s cloud computing market. As this space continues to grow, fresh concerns will likely arise over the power wielded by Amazon. The possibly detrimental effects that a single, cloud computing behemoth could have on the economy are yet to be determined, but outages like this won’t help Amazon’s case.
Adobe’s Sensei AI technology is being deployed to update the site search and product recommendation functionality of Magento, its e-commerce platform. A visual similarity function will now be available to shoppers, revealing products that look similar to what they view. The new, search-as-you-type search results will offer suggestions to shoppers based on their shopping history and habits. Both of these features should help merchants increase their conversions, just in time for the busy holiday season.
As more people than ever are shopping online, a seamless process with smarter recommendations becomes more important for shoppers. AI has previously been cumbersome to implement, requiring data scientists and complex coding. Now, merchants trading from platforms like Magento are only going to get a greater edge on their competition.
For sale is an award-winning B2B SaaS business in the project management and collaboration niche with a decade of operational history. The business offers an all-in-one cloud-based project management and collaboration tool which allows users to manage workflows and improve collaborative work with its full range of products including agile and traditional project management enabling both Scrum/Kanban and Waterfall models, amongst other features.
Some key highlights:
- Firm foothold in the project management and collaboration software niche
- Impressive traffic statistics with c.1.2M visitors and c.1.6M page views in the LTM
- Loyal customer following of c.1,100 subscribers including well-known customers such as CNET Content solutions, MTV Networks, and Software AG
- Strong membership metrics with an LTV of c.$5,600, MRR of c.$112K, and MRR churn rate of c.1.94%
Request a prospectus from the link above to learn more.
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OTHER NEW LISTINGS
- Years of operational history leading to an authoritative position in the discount & voucher codes niche
- Rapid revenue growth with a CAGR of 59.9% between 2017 and 2020(e)
- Strong organic search presence with keyword rankings for c.593,000 keywords and more than 10.5M backlinks
- Impressive volume of traffic with over 16.2M pageviews over the LTM
Yearly net profit: $912,000
Asking price: $2,225,000
- Portfolio of Apps with 8 years of operating history.
- Glowing reviews with an average 4.6-star rating and c.430 active paying merchants.
- Attractive SaaS metrics with MRR of c.$3,560 and high LTV of c.$136 over the LTM.
- Lean and scalable cost structure.
Yearly net profit: $41,800
Asking price: $163,000
Until next week!
The FE International Team