---
title: "Xnapper sold for $150K while revenue fell a third. The deal structure is the lesson"
url: https://firstpassmemo.com/teardowns/famous/xnapper/
updated: 2026-10-16
publisher: FirstPass Memo (hello@firstpassmemo.com)
---

Famous-deal teardown · 2024

# Xnapper sold for $150K while revenue fell a third. The deal structure is the lesson

Short answer: A good example of pricing a key-person or audience risk into the structure rather than walking away. A buyer reading only the headline price would miss the falling revenue and the founder-audience dependence.

Updated 16 October 2026 · By Joan Murphy (https://firstpassmemo.com/about/joan-murphy/) (pen name) · How we check (https://firstpassmemo.com/methodology/) · Corrections (https://firstpassmemo.com/editorial-policy/)

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FirstPass Memo offers a free red-flag checker for business-for-sale listings and a $79 first-pass memo on a specific listing you send, paid after delivery. Paste any listing below for payback, the asking multiple and its red flags. Nothing you paste leaves your browser. Open the full checker (https://firstpassmemo.com/checker/) to unlock every flag with its seller question.

Based on public figures only. This page applies our published rules to numbers the seller or press reported publicly, linked below. We had no access to the business's accounts. A flag here means a number was not published or points to a risk worth asking about; it is not a claim that anything was wrong with the business or the deal. Figures may be rounded or out of date. Spotted an error? Email hello@firstpassmemo.com and we will correct it.

## The publicly reported numbers

| Price | $150,000: $100K upfront, $50K paid monthly through a revenue share |
| --- | --- |
| Revenue at sale | About $4K a month (one-time purchases, not subscriptions) |
| Earlier revenue | About $6K a month in September 2023, as reported by the seller |
| Launched | August 2022 (about 1.5 years before the sale) |
| Other offer | A later $169K offer via Acquire.com, declined because the first offer was already accepted |

## What follows from them

| Price ÷ annual revenue | About 3.1× ($150K ÷ ~$48K) |
| --- | --- |
| Revenue change | About −33% from ~$6K to ~$4K a month over roughly six months, per the seller's figures |

Our arithmetic on the public figures. Revenue multiples, not profit multiples, unless stated.

## Flags the public numbers raise

- MEDIUM Revenue declining (https://firstpassmemo.com/flags/revenue-declining/): Revenue fell from about $6K to about $4K a month between September 2023 and the sale, by the seller's own figures.

- MEDIUM One channel above 60% (https://firstpassmemo.com/flags/one-channel-over-60-percent-of-traffic/): The seller wrote that his personal Twitter account probably influenced revenue “quite a lot”. The revenue-share part of the price was set up because of that dependence.

- MEDIUM No profit figure (https://firstpassmemo.com/flags/no-profit-figure/): Profit was not published; the multiple above is on revenue.

- MEDIUM Under 12 months old (https://firstpassmemo.com/flags/under-12-months-of-history/): About 18 months of history: enough for one full year, but not a long track record.

## What looks clean

- Deal structure matched the risk: a third of the price was paid from future revenue, sharing the audience-dependence risk.

- Seller-disclosed reason for sale (focus on another product).

## The buyer's lesson

A good example of pricing a key-person or audience risk into the structure rather than walking away. A buyer reading only the headline price would miss the falling revenue and the founder-audience dependence. Run the same rules on a listing you are looking at with the free checker (https://firstpassmemo.com/checker/).

## FAQ

### Do these flags mean the Xnapper deal was bad?

No. They show which questions the public numbers leave open. The buyer had access we did not, and may well have answered each one.

### Where do the figures come from?

Only from the public sources listed below, mostly the seller's own announcement. We did not contact either party.

## Sources

- Tony Dinh, “Another 6-figure exit, and the future”, https://news.tonydinh.com/p/another-6-figure-exit-and-the-future (https://news.tonydinh.com/p/another-6-figure-exit-and-the-future), read 16 October 2026.

- Founded.org, Xnapper, https://www.founded.org/companies/xnapper/ (https://www.founded.org/companies/xnapper/), read 16 October 2026.

All famous-deal teardowns (https://firstpassmemo.com/teardowns/famous/) · Live listing teardowns (https://firstpassmemo.com/teardowns/) · General information, not advice.

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FirstPass Memo is informational screening, not investment, legal, tax, accounting or valuation advice, and not an audit. Seller figures are not independently verified. HTML version: https://firstpassmemo.com/teardowns/famous/xnapper/