Flippa rolls out some new product updates

Tony Xu over at Flippa posted about some new features at Flippa for April. New features rolling out include a letter of intent builder,Funds Verification,Deal Collaboration and a Currency Converter. I think the LOI builder is a cool feature that should really help out those new to the business.

Embedded Letters of Intent (LOI)

Ready to do a deal. Easily submit an LOI.

Now Live

A letter of intent is often a critical step in buying and / or selling a digital asset or online business. It sets out the terms of the deal including price, deal structure and terms. It will often also talk about a due diligence period and then critically, the expected close date.

Fippa’s new embedded LOI feature is available on any listing with an asking price in excess of $25,000 and offers the option to:

Use the wizard to build an LOI

It’s simple. Choose an offer price, nominate a due diligence period, close date and

any deal terms. You can then submit the LOI for review. Sellers then have the opportunity to accept or reject and of course the LOI will be stored and time stamped. 

Upload your own

Alternatively, upload your own LOI. This is stored as a PDF on the platform but unlike the ‘wizard’ buyers and sellers will need to download, sign and re-upload.

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