Codetree

Codetree changed hands at a 3.5× profit multiple, above the 2.5× median of the 105 deals in this database that disclosed both price and profit. Multiples above the median usually reflect lower perceived risk for the buyer: steady retention, organic acquisition channels or an owner who was not the product.

The $128,000 sale price puts it in the upper half of the 608 deals with a disclosed price here, where the median is $20,000. Most indie acquisitions cluster well under the headline numbers founders read about, which is exactly why a real distribution is more useful than an average.

This database tracks 210 Developer Tools exits, and the ones that disclosed a price sold at a median of $25,000. Category matters more than founders expect: buyers apply different discount rates to a content business, a mobile app and a B2B tool even at identical revenue.