Deal Summary

Business Name:  Confidential (disclosed under NDA); two AI-photo products on one Western European legal entity.
Business Website:  Disclosed under NDA
Business Start Date:  29/04/2022
Business Location: Western Europe (remotely operated)
Business Valuation:  $1,224,000 USD
Employee Number (Inc. Owners):  2 founders, no employees (plus 2 freelancers)
Business Model:  B2C SaaS Subscriptions, One-Time Fee Packages
Industry:  AI Photo Analysis and Generation, Dating Optimization and Professional Headshots
Percentage Being Sold:  100%
Sales (TTM): $1,557,710
Annual Recurring Revenue (ARR):  ~$790,000 (about $65,000 MRR)
Net Profit (TTM SDE):  $349,873 (normalized ~$275,000 across the ad-spend cycle)
Business Multiple (TTM Revenue):  0.79x
Business Multiple (TTM Profit): 3.5x
YoY Revenue Growth Rate:  79.48%
YoY Profit Growth Rate: 347.76%
Total Users:  500,000+ registered users
Social Media Followers:  370,000+ followers
Paying Clients (Total):  55,000+ lifetime customers
Paying Clients (TTM):  21,000+ customers
Website Traffic (TTM):  3.6M+ visitors and 25M+ pageviews
Tag Line:  Profitable AI photo platform across dating and professional headshots, about $0.79M ARR at 88% gross margin

1.  Executive Summary

The Company is a portfolio of two cash-generative B2C subscription products (Ember and Suit) built on one shared AI-photo platform. Ember rates and improves dating-app photos and profiles and accounts for about two-thirds of revenue. Suit turns selfies into professional headshots and is the younger growth product. One inference pipeline, one billing stack and one acquisition playbook serve both, operated by two founders with no employees and an operational floor of about four hours per week each.

Trailing twelve-month net revenue is $1,557,710 at an 88% gross margin, producing $349,873 of seller's discretionary earnings, roughly a 22% margin. The business has a four-year operating record in the filed statutory accounts and a demonstrated margin dial: when paid spend is turned up, revenue grows (the top line peaked near $198k in October 2025); when it is turned down, monthly EBITDA margins run in the high-30s to low-50s percent. Spend is throttled today to harvest margin, and the buyer chooses the setting and inherits the documented playbook for both modes.

The ask is $1.2M all-cash, underwritten by the combined entity at about 3.5x a conservative SDE anchor of roughly $350K. Both products are profitable on a standalone basis. The owned audience of about 370,000 social followers, the email list and the proprietary training datasets are included as upside. A prior buyer signed a letter of intent at $2M ($1M cash plus a $1M earnout) roughly a year ago that fell through for the buyer's own reasons rather than diligence findings, so the current $1.2M all-cash is the clean, upfront version of that.

2.  Company Overview and History

The Company was founded in April 2022 by two engineers, one leading frontend and product, the other backend and AI, who previously built a consumer social product that was later acquired by a major platform. The starting observation was that most people underperform on dating apps because of their photos rather than their personality. The first product rated and reviewed dating photos using models trained on human-annotated data. AI photo generation, profile and bio writing, and coaching followed, and the dating product grew past $1M in annual revenue.

The same platform was then applied to a second market, professional headshots generated from selfies, which launched as Suit in June 2025 and is now the portfolio's growth product with its own recurring base. One Western European legal entity runs both products. The Company is 100% founder-owned, bootstrapped, with no debt and no outside investors. It can be sold as a whole-entity share sale, or as an asset sale of either product line.

3.  Products

Ember, consumer dating. About $1.0M of trailing revenue and roughly $287k of standalone SDE. The product provides AI photo rating and review built on proprietary models, AI-generated dating photos, profile and bio writing, messaging help and coaching. Monetization runs from a low-cost paid trial of about $4 into subscriptions averaging around $30 per month, at a 31.4% trial-to-paid rate, plus one-time purchases averaging about $45. It is web-first with two shipped iOS apps.

Suit, professional headshots. About $0.54M of trailing revenue and roughly $38k of standalone SDE, profitable. The product generates AI business headshots from selfies in minutes through a self-serve funnel (tiers at $39, $49 and $99, averaging about $44 on first purchase) and an emerging team and B2B workspace. Suit ran a deliberate customer land-grab in the second half of 2025 with heavy spend, since throttled, which is why its trailing SDE is modest; it now harvests at roughly a 31% margin with B2B and outbound still largely untouched. TrustPilot rates it 4.8 across 534 reviews.

Why one platform.  Both products share the same inference pipeline, billing, support automation and growth engine. That gives diversification across two markets at low marginal cost per product. Only the backend is shared, so a single-product carve-out is a clean billing split plus a short transition services arrangement; the backend already supports both origins.

4.  Market and Customers

Customers sit in premium English-speaking consumer markets. By revenue, the United States is about 57%, the United Kingdom about 10%, Australia about 7% and Canada about 6%, roughly 80% combined, with two Western European markets adding about 5% and 3%. Paid acquisition targets the four English markets, while a multilingual SEO blog that ranks in twelve languages drives most of the non-English sales.

All revenue is B2C, spread across thousands of customers with no revenue concentration and no contracts, so stability comes from cohort retention rather than renewals. The core dating customer is a man aged roughly 25 to 40 in the US or another Western market. Customers buy a clear outcome: more and better matches on the dating side, and a headshot that looks like them and reads well on LinkedIn on the headshots side, for a fraction of the cost of a $300 photo session or per-hour coaching.

5.  Financial Performance

The table below is the trailing twelve-month profit and loss for the combined entity (June 2025 to May 2026), with advertising on an accrual basis and processing fees inside cost of goods sold.

Owner compensation is taken as below-the-line distributions, so EBITDA and SDE are effectively equal with no add-back gymnastics. Refunds run about 2% of revenue and are disclosed as an explicit adjustment in the data room (adjusted SDE about $322k).

Four-year track record

The annual series below comes from the filed statutory accounts (converted to USD at the year-average rate), with the current trailing year from the live model.

Data note on FY2025 SDE.  The filed statutory accounts show FY2025 SDE of about $37k, reflecting the heavy second-half growth push. The reproducible management model shows FY2025 revenue of about $1.43M and SDE of about $165k for the same year. The difference is the period timing of accrued ad spend and the scope of owner add-backs. Both bases reconcile inside disclosed variances, and the full bank, processor and statutory reconciliation is released in the data room post-NDA.

SDE is a range, not a single point. Owner earnings move with the paid-acquisition decision, and the statutory accounts make that explicit. At moderate spend and flat revenue (FY2024) the business earned about $215k. During the heavy FY2025 growth push it earned about $37k on a statutory basis. Under the current throttle the trailing figure is $357k, and the 2026 year-to-date annualizes higher still on a declining top line. The honest reading is that heavy 2025 spend grew revenue but did not pay back, and the high recent margin comes from throttling growth. A buyer who can make paid acquisition pay back is buying real upside; a cash-flow buyer prices the normalized figure of about $275k. The asking price is anchored on a conservative $343k, with the whole range shown so the sensitivity is explicit.

The numbers are built to survive a quality-of-earnings review: a reproducible pipeline from processor and bank exports, bank reconciliation, refunds disclosed as an explicit adjustment, and accrual ad booking. For 2026 year-to-date (January to May), revenue was about $475k and SDE about $203k, a 43% margin, on deliberately throttled spend.

Monthly trajectory (TTM)

The two thin-margin months in late 2025 are deliberate ad pushes. Margin recovers sharply as spend is throttled into 2026.

6.  Subscription Metrics and Unit Economics

Acquisition is largely self-funding. Blended CAC is about $32 per new customer, and one-time plus trial revenue recovers about 65% of advertising spend on day zero, so net CAC per subscriber is around $50 against a $266 LTV. The all-in return per acquired customer is about 2.0x on Ember, about 2.8x on Suit and about 2.3x blended.

7.  Sales and Marketing

Meta is the primary engine. Over the measured window it turned about $559k of spend into 16,634 purchases at roughly $40 CPA on dating and $51 CPA on headshots, run by one freelance creative strategist supported by an AI-assisted operations layer, and documented in a transferable ad-ops playbook that covers account structure, weekly cadence, decision rules and the throttle. Google Ads is the second paid channel and is relaunching on Suit.

Organic adds a low-cost base. The SEO blog draws about 13,300 organic clicks every 28 days, almost all to articles and about two-thirds non-English. The owned audience of about 370,000 social followers plus a US-majority email list both convey with the sale and are barely monetized today. Current paid spend is throttled to about $30k to $35k per month in harvest mode.

Disclosed honestly.  Some channels did not produce repeatable acquisition: organic TikTok reached about 300M views but converted poorly, creator outreach and Reddit did not yield repeatable CAC, Suit's SEO stalled, and the 2025 heavy-spend push grew revenue about 34% but did not hold. The playbook encodes those lessons.

8.  Operations and Team

The Company has no employees. Two founders run it, one on backend and email, one on frontend, product and Google Ads, supported by two freelancers: a creative strategist (about EUR 4,200 per month, contract transfers) and part-time support (about EUR 340 per month, migrating to an AI agent). Total external cost is around $63k per year.

The business is AI-operated by design. Software agents ship about 90% of code under founder review, roughly 35 to 40 recurring processes are mapped in an operations catalog with about 28 written standard operating procedures, and the operating knowledge transfers as a plug-in AI knowledge base. The operational floor is about four hours per week per founder; the current roughly 30 hours each is discretionary product and automation work that a buyer can stop. Transition is one to three months with openness to a short consulting tail. There are no legal proceedings. Chargebacks run at 0.93% (fraud-type 0.26%), under network thresholds and actively managed. Cash on hand is about $59k on a cash-free and debt-free basis.

9.  Technology and Defensibility

The stack is a Python and MongoDB backend on AWS, a React and Next.js web front end, and React Native (Expo) mobile apps, with GPU inference on Modal and a Payload CMS. The AI pipeline mixes proprietary photo-rating models with state-of-the-art generation and LLM providers (FAL, Gemini, Replicate) behind an abstraction layer, so there is no single-vendor lock-in. Billing runs on the web, and about 99.9% of revenue is collected there, which avoids app-store tax and review or ban exposure. The code is fully founder-authored by the two co-founders, with no external contractor in the codebase, so the IP conveys clean.

Gross margin has improved structurally through two re-architectures of AI compute. The first moved off AWS and Stable Diffusion to FLUX on Fal and Modal in the second quarter of 2025; the second added a Modal migration with Kie.ai and Gemini fallback in the first quarter of 2026. Together they cut compute cost per paying customer from about $5 to about $1 while output quality improved, holding GPU and inference cost to roughly 3% to 4% of revenue.

Defensibility rests on data, quality and distribution rather than a thin wrapper. The Company has accumulated about $100k of human-annotated training data over years, holds first-party dating-conversation data that generic models do not have, runs a generation pipeline tuned for realism (reflected in the 4.8 TrustPilot on Suit), and owns an acquisition playbook built on thousands of tested creatives. The brands are faceless, with no founder personal account in the funnel, so nothing material walks out with the sellers. Key-person risk is stated plainly: the business was built by two founders rather than one, the code is documented with an agents-friendly structure, and a one-to-three-month transition covers handover.

10.  Brand and Reputation

Suit holds a 4.8 "Excellent" TrustPilot rating across 534 reviews, overwhelmingly five-star and unsolicited. Ember holds a 4.2 "Great" rating across 134 reviews, with negatives answered within about 24 hours. Across both brands there are about 370,000 social followers, an SEO blog ranking in twelve languages, and shipped iOS apps. No founder's personal brand is attached, so the reputation transfers whole.

11.  Growth Opportunities for a Buyer

The business is run for margin today. Each lever below is supported by the Company's own history or by public competitors on the same playbook.

1. Reopen the paid engine. It already produced about $198k of revenue in a single month (October 2025) at peak spend and is throttled to roughly $30k to $35k per month today. With day-zero revenue recovering about 65% of CAC, re-expansion is largely self-funding.

2. Organic and SEO. The blog already ranks in twelve languages and pulls about 13,300 organic clicks every 28 days at near-zero cost, while public peers in these categories run 200k to 380k organic visits per month, and one headshots competitor draws more than 15% of revenue from affiliates.

3. International. About 80% of revenue comes from four English markets while the Company already ranks in twelve languages, and France and Germany already convert, so localizing where it already ranks is clean whitespace.

4. Suit is early The B2B and team workspace and outbound are essentially untouched, in a category where public peers do $50k or more per month; the second paid channel is relaunching.

5. Monetize the owned audience. About 370,000 social followers and a large US-majority email list drive close to zero direct revenue today, a CAC-free channel that conveys with the sale.

6. Pricing and mobile. Structured price testing and annual plans are under-exercised against a $300 photographer benchmark, and two shipped iOS apps are an incidental channel today that a buyer can make active.

12.  Known Risk Items

These are stated plainly because diligence will surface them.

• Paid-acquisition dependence. Growth is led by paid ads and is concentrated on Meta. This is offset by a self-funding model, where one-time and paid-trial revenue recovers about 65% of CAC at acquisition for a blended LTV to CAC of about 2.3x, and it is the margin-versus-growth dial rather than a leak.

• Top line off its peak. Trailing revenue is below the late-2025 high because spend is deliberately throttled for cash, not because of a demand collapse.

• Payments. Total dispute rate is about 0.93% (fraud-dispute 0.26%), under card-network thresholds, and is a managed diligence item.

• Carve-out mechanics. A single-product sale needs a clean billing carve-out and a short transition services arrangement. Only the backend is shared and it already supports both origins, so the split is straightforward.

13.  The Transaction

The asking price is $1.2M all-cash, about 3.5x the conservative $343k SDE anchor and about 4.4x the normalized $275k. Suit, the owned audience, the datasets and the mobile apps are included as upside.

Structure. Whole-entity share sale, or asset sale of either product line, on a cash-free and debt-free basis. The seller prefers a clean, mostly-cash deal, and will consider a retention or earn-out component on top of the $1.2M all-cash. Any earn-out would be kept small and short.

Process. Non-exclusive, with offers invited through FIH.com. The post-NDA data room contains the reproducible monthly profit and loss with bank reconciliation, the FY2022 to FY2025 statutory accounts, subscription metrics, technical due-diligence material, ad-account exports, the SOP library and the transfer checklist.

Included in the sale. Code, brands, domains, apps, data, the ad-ops playbook and a one-to-three-month founder transition. Real identifying details, including brands, domains, the entity and the owners, are disclosed after a signed NDA.

14.  Reason for Sale

The founders are builders rather than long-term operators. They have taken the business to a profitable, automatable state and want to start their next venture. They are offering a paid transition to hand over cleanly. A prior letter of intent at $2M ($1M cash plus a $1M earnout) about a year ago ended for the buyer's personal reasons rather than anything found in diligence.