Deal Summary

Listing reference: #6427305

Website: Disclosed after NDA

Location: United States; a remotely operable business

Founded: October 2016

Business model: SaaS; a per-identity monthly subscription

Industry: Privacy and security software, and e-commerce enablement

Stake for sale: 100%

Revenue (TTM): $823,902 (year to June 2026), all recurring subscription

SDE (TTM): $272,502, about 33% margin

EBITDA (TTM): $284,214, about 34% margin

Customers: 419 paying customers, one-year retention about 97%

Asking price: $4,080,000, cash-free and debt-free

Implied multiples: 4.95x TTM revenue, 15.0x SDE and 14.4x EBITDA

Financing: Interest expense of about $11,700 in the year indicates some borrowing to be settled at completion

Tag line: 9+ Y/O E-commerce Multi-Account Management SaaS w/ 97% Annual Retention

Executive Summary

The company is a profitable software business founded in October 2016 and based in the United States. Its product lets e-commerce sellers run several marketplace accounts safely from one place, with each account kept in a separate, isolated environment. Around that core it has built user-management and data-loss-prevention tools for sellers who work with virtual assistants and remote teams.

In the year to June 2026 the business earned revenue of $823,902, all recurring subscription, from 419 paying customers. Seller discretionary earnings were $272,502, about 33% of revenue, and earnings before interest, taxes, depreciation and amortisation were about $284,214. Gross margin was about 83%. One-year customer retention is about 97% and five-year retention about 98%, which is the central fact about the business.

Growth has been almost entirely organic. The company has run for nearly a decade with word-of-mouth referral and two industry trade shows a year, and only recently began any digital marketing. Customer acquisition cost has therefore been close to zero, and the current owner runs the business in about ten to twenty hours a week. Onboarding is self-service, and a contractor team of eleven keeps the product and support running.

The business is offered as a 100% sale at $4,080,000 on a cash-free, debt-free basis. That is 4.95x revenue and 15.0x seller discretionary earnings for the year to June 2026, calculated on the profit and loss. The price reflects the retention and margin of the business and the growth levers that have not yet been pulled, in particular paid marketing and a move into the data-loss-prevention market. Those levers, and the risks a buyer should weigh, are set out in the sections that follow.

Company Overview and History

The company began with a real problem. About ten years ago the founder's brother, an Amazon seller, needed a way to run a joint venture without falling foul of Amazon's account policy at the time. The founder built a solution, word spread through the Amazon seller community, and informal requests turned into a product. Over the following decade the company grew from a simple multi-account browser into an e-commerce identity and account-management platform, with data-loss-prevention tools built for businesses that use virtual assistants and remote teams.

Revenue grew from a few thousand dollars in 2019 to $132,370 in 2021, $408,683 in 2022, $571,910 in 2023, $594,712 in 2024 and $823,804 in 2025, reaching $393,528 in the first half of 2026. The business is run by one active owner, who holds 85%, with the remaining 15% held by passive minority owners. It operates from a small rented office that is a convenience rather than a requirement; the business can run fully remotely.

Product and Platform

Customers use the company through two interfaces. The first is a web-based portal where they create and manage identities, add and remove users and set permissions. The second is the browser client, a locally installed Chromium-based application that applies each customer's identities, users, permissions and saved credentials on login, giving every identity a fully isolated environment. The effect is that a seller can run several marketplace accounts side by side without the accounts being linked to one another.

Around that core the product adds user management and data-loss-prevention features: access controls, permissioning, password management and controls that limit what a virtual assistant or team member can see and remove. Onboarding is self-service and supported by documentation, so the product requires little hands-on involvement from the team. There is no mobile application; it is a desktop platform.

Market and Niche

The company sits where two markets meet: tools for e-commerce sellers and software for digital privacy and security. Its customers are businesses whose livelihoods depend on staying in good standing with platforms such as Amazon, Walmart, eBay, Shopify and Etsy, and who need to run several accounts without those accounts being linked. Demand has been supported in recent years by the growth of remote teams and virtual assistants, particularly in markets such as the Philippines, which created a need for secure, permission-controlled account access.

Management sees two adjacent opportunities. The first is data loss prevention, a large market dominated by expensive enterprise vendors, where the company already has some of the core capability and could offer a lower-cost alternative. The second is a set of multi-account use cases the technology already supports but the company has never pursued, such as ticketing and other purchasing workflows. Both are opportunities rather than current revenue, and are treated as such in this memorandum.

Customers and Retention

The business serves 419 active paying customers, with no free tier, so every customer is a paying, engaged user. Acquisition has been almost entirely organic. The defining feature of the base is retention, which is high across every time horizon.

• Last 6 months: 96.62%

• Last 1 year: 96.84%

• Last 2 years: 97.01%

• Last 5 years: 97.54%

Revenue per customer rises with the number of identities managed. Customers with one to three identities are about 46% of revenue at roughly $101 a month; those with four to nine identities about 33% at roughly $335 a month; and those with ten or more about 21% at roughly $964 a month. The oldest customers and identities are both eight years old, which is the clearest evidence that the base is made up of long-term users rather than churn-prone trials.

Financial Performance

The company reports in US dollars on an accrual basis. The table below summarises the year to June 2026. The points that matter for valuation are the high gross margin, the level of owner earnings, the recurring nature of revenue and the unaudited, management-prepared nature of the accounts.

• Revenue: $823,902, 100% of revenue

• Cost of goods sold: ($136,483), 17%

• Gross profit: $687,419, 83%

• Operating expenses: ($414,917), 50%

• Seller discretionary earnings (SDE): $272,502, 33%

• Interest add-back: $11,712, 1%

• EBITDA: $284,214, 34%

Accrual basis, unaudited and management-prepared, for the year to June 2026. The active owner draws no salary, so operating income approximates seller discretionary earnings. A January 2026 reconciliation discrepancy of about $85,682 is recorded below the operating line and reduces net income to about $186,879; it should be explained in diligence.

ANNUAL REVENUE HISTORY

• 2019: $6,373

• 2020: $17,591

• 2021: $132,370

• 2022: $408,683

• 2023: $571,910

• 2024: $594,712

• 2025: $823,804

• 2026 to 30 June: $393,528

Annual gross revenue. The 2026 figure covers January to June. The step-up from 2021 tracked the shift to remote and distributed selling teams; the 2024 to 2025 step-up followed a price increase in February 2025 that existing customers absorbed with little churn.

HOW TO READ THE NUMBERS

Basis of preparation. The accounts are accrual-basis but unaudited and management-prepared, so a buyer should expect an accountant's review.

Monthly smoothness. Revenue is not perfectly even. December 2025 recorded about $172,000 and October 2025 about $31,000, against a monthly median near $64,000. The most recent six months run at about $65,000 a month, or roughly $787,000 annualised, a little below the trailing-year figure. The timing of annual prepayments and revenue recognition should be confirmed.

Reconciliation discrepancy. The January 2026 discrepancy of about $85,682 needs to be explained, since it is the main gap between operating income and net income.

Expense credits. Legal and professional services carries a credit of about $11,313 in March 2026, which turns that line negative for the year and lifts operating income by the same amount. The nature of the credit should be confirmed.

The data room is the place to resolve these points.

Revenue Model and Pricing

The company runs on a subscription model, billed monthly through a major payment processor, with almost no advertising, affiliate or commission revenue. Pricing is per identity. The Standard plan is $60 a month per identity plus $5 a month per user and includes full user management; the Basic plan is $32 a month per identity without user management. There is no minimum commitment, and accounts with no active identities are not billed, so all 419 customers are active.

All revenue is recurring and transferable to a new owner, and does not depend on owner-specific relationships. A price increase in February 2025 lifted revenue, and existing customers absorbed it with little churn, though management notes it coincided with a flattening in new-customer growth.

Operations and Technology

The company is a self-service product, which keeps it lean. Customers sign up and run day to day with little intervention from the team, and two part-time support contractors provide business-hours coverage through a hosted support platform. Development is handled by a Vietnam-based team, coordinated through a project management platform, working on a stack built on a Chromium browser client, a major cloud platform with serverless functions on the backend, a hosted database, and proxy infrastructure across two providers. An infrastructure migration under way is expected to reduce hosting costs. The office is a convenience and is not part of the sale; the business can run fully remotely.

Team

The business runs on a distributed contractor team of eleven, including the owner. All members are independent contractors; there are no full-time employees. The active owner, who holds 85%, is the product visionary and main decision-maker and works about ten to twenty hours a week. A business-development contractor in Israel handles outreach and demos, two part-time support contractors cover customer service, and a Vietnam team of a project manager, a scrum master, a QA engineer and five developers handles the product, with a designer engaged as needed. Every function other than the owner is filled by contractors who are expected to remain in place after a sale, though that expectation is not the same as a contract, which is noted in the risk section.

Sales and Marketing

The company reached its current scale with very little marketing. For most of its history, growth came from word of mouth, a direct reflection of product quality and customer loyalty, supported by two industry trade shows a year and direct outreach from the business-development contractor. The company has only recently begun any digital marketing, with early outreach to industry groups and a first paid search campaign, and an affiliate program exists but has not been developed.

Because growth has been organic, customer acquisition cost has been close to zero, the average customer stays about twenty-four months and generates roughly $3,200 in lifetime revenue, and the longest-standing accounts are eight years old.

Competitive Position and Moat

The company operates in what is often called the multi-account browser space, which has four or five known competitors. None of them targets the e-commerce seller niche specifically; they focus on adjacent markets such as ticketing.

Within its own niche the company's advantages are reputation and trust, built over ten years of account isolation with no account correlations attributed to the product, and a decade of domain knowledge about how sellers work and how the platforms they depend on behave. Because most customers are not technical and cannot evaluate a security product on its merits, they rely on track record and community standing, which is hard for a new entrant to build quickly. Switching costs are high for the same reason, and are reflected in retention near 97%.

Growth Opportunities for a Buyer

Data loss prevention. The company already has core capability, with more in development, in a large market dominated by expensive incumbents. Enterprise features such as single sign-on, audit trails and browser-activity auditing could support a higher-value tier and a per-user rather than per-identity price.

Digital marketing. The business has never invested meaningfully in paid acquisition, content or influencer outreach. Proven product-market fit and near-zero historical acquisition cost leave clear headroom for an owner who can market.

Adjacent verticals. The technology already supports multi-account use cases the company has never pursued, such as ticketing and other purchasing workflows.

Affiliate and referral. An affiliate program exists and could become a real channel with modest investment.

Cost reduction. An infrastructure migration is expected to lower hosting costs, and the office lease is an easy saving for a remote-first owner.

Known Risk Items

These items are stated plainly because diligence will focus on them.

Platform-policy dependence. The product exists to let sellers run several accounts on platforms such as Amazon without those accounts being linked. A change in the tolerance or detection of those platforms toward multi-account tools is a risk to customers and therefore to the business, and a buyer should assess the terms-of-service and reputational posture.

Owner and key-person dependence. The active owner is the product visionary and main decision-maker. Although the day-to-day load is light, the direction of the product rests on the owner, and a transition plan is central to protecting value.

Contractor-only team. Every function other than the owner is filled by independent contractors, including the Vietnam development team. They are expected to stay after a sale, but that is not contractually locked, so retention arrangements matter.

Revenue smoothness and recognition. December 2025 recorded about $172,000 and October 2025 about $31,000, against a monthly median near $64,000, and the recent run-rate is a little below the trailing-year figure. The timing of annual prepayments and revenue recognition should be confirmed.

Accounting. The accounts are unaudited and management-prepared, a January 2026 reconciliation discrepancy of about $85,682 sits below the operating line, and legal and professional services carries a credit of about $11,313 in March 2026. These need explanation, and the books would benefit from an accountant's review.

New-customer growth. Management notes that new-customer growth flattened after the February 2025 price increase, so the current base is highly retained but not yet growing quickly.

Concentration in one niche. Revenue is concentrated in the e-commerce multi-account niche. The data-loss-prevention and adjacent opportunities are real but unproven, and the incumbents in data loss prevention are large and well funded.

Unproven paid marketing. Growth has been organic; the ability to grow through paid channels is early and not yet demonstrated.

Technical dependencies. The product is a desktop, Chromium-based client with no mobile application, and depends on cloud and proxy providers, one of which is mid-migration. Changes in those dependencies could affect the product.

Borrowings. Interest expense of about $11,700 in the year indicates the business carries some debt, which should be identified and settled or refinanced at completion.

Intellectual property. The company holds no registered trademarks, so brand protection rests on common-law rights and the domain.

The Transaction

The business is offered as a 100% sale at $4,080,000 on a cash-free, debt-free basis. On the year to June 2026 that is 4.95x revenue, 15.0x seller discretionary earnings and 14.4x EBITDA. The seller prefers a clean full sale but is open to alternative structures, and to either an asset or a stock sale, as part of the right deal, and is willing to support a transition that protects the product, the team and the customer relationships.

• Business: Disclosed after NDA

• TTM revenue: $823,902 (year to June 2026)

• TTM SDE: $272,502

• TTM EBITDA: $284,214

• Asking price: $4,080,000, cash-free and debt-free

• Revenue multiple: 4.95x TTM revenue

• Earnings multiple: 15.0x SDE and 14.4x EBITDA

• Customers: 419 paying, one-year retention about 97%

• Structure: 100% sale; asset or stock sale, agreed through FIH.com

Multiples are calculated on the $4.08 million asking price and the year to June 2026. SDE equals operating income, with no owner salary drawn; EBITDA adds back interest.

The sale includes the domain and brand assets, the full platform and its source code, the account-management portal and the Chromium browser client, all backend infrastructure and associated intellectual property, the complete customer database, the partner and payment accounts, the existing contractor agreements, the marketing assets and an email list of about 3,000 contacts. There is no physical inventory, and the office lease is not included. Prepaid subscription balances are addressed in the transaction structure. Identifying details beyond this memorandum are released after a signed non-disclosure agreement.

Reason for Sale

The company has reached a point where the next stage of growth calls for real investment in marketing and business development, and the expertise to execute on both, which is not where the current owner's strengths lie. The owner also has other projects he would like to give more time to.