WordPress theme shop selling its themes both direct and through ThemeForest, reaching monthly revenues of up to $4,000. It sold via Flippa auction for $80,000.
Priced against revenue rather than profit, PandaThemes sold at 1.7× annual revenue, below the 2.3× median across the 257 deals with a disclosed revenue multiple. Revenue multiples run higher than profit multiples because they ignore the cost of running the business, so they are only comparable between businesses with similar margins.
The $80,000 sale price puts it in the upper half of the 594 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 200 Developer Tools exits, and the ones that disclosed a price sold at a median of $24,000. 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.
See how this compares across the market on our market stats page, or browse more Developer Tools exits.
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