I’m joined here with Praveen Chidaboyina, a long time Flippa user who recently started his own brokerage. He’s now a partnered broker on Flippa and eager to help others sell their domains! Check out our interview below.
What’s your background and how did you get started on Flippa?
I used to do a full-time job as a web developer and have 5+ years of technology experience. Fortunately, I got/ created many opportunities and played different roles like Senior Web Developer, Team Lead, and Offshore Delivery Lead during my 5 years in the corporate world. I had experience working with top-notch clients like Pfizer, Mercer, Merkle, Avanade, DigitnityHealth, RideUTA (Utah Transit Portal), Presto (Canadian Govt Transit Website) and many more.
I used to work more than 10 hours daily during my day, then I started looking for other income and tried freelancing, t-shirt designing and few. One day, I read about domaining on local newspaper and started a hand-registering bunch of crap domains but had no luck in first one year. By the second year, my balance sheet was in green.
I was searching for online auction houses and found Flippa on search engines. I had great success with Flippa and sold most of the domains to end-users.
You have been a user on Flippa for 4 years. How has Flippa changed during that time?
Flippa Escrow and Flippa support improved a lot. Flippa Escrow is one of the fastest Escrow in the current market. QQio.com domain transaction completed within 30 minutes.
Amber (one of Flippa’s broker managers) has helped a lot by promoting qualified listings and it has worked well for me.
You have completed over $100,000 in transactions over the past year alone. Can you tell us about that experience?
I have changed my strategy in mid-2017 since I have enough budget and started purchasing expired domains/ domains from other marketplaces
Purchased Renew.al on Namepros for $40 USD then sold it for $305 USD on Flippa and purchased Confirm.co for $284 USD and flipped it for $1051 USD within 45 days. It goes on. Below were few sales (quick flips)
- I have flipped VegX.com within 25 days for 3,850 USD and acquired for $400 USD.
- Sold VapingSupplies.com for $5,000 USD within 45 days and acquired it for $500 USD.
- I have also flipped Leaking.com within 43 days. Sold for 7,827 USD and acquired price for1,644 USD
- Sold DispatchSoftware.com for $6,000 USD. Acquired it for $500 USD
- Flipped VRIO.com for $8500 USD. Acquired it for $811 USD
I have listed “Call To Action” domains on Flippa and outbound to end users (my most of the Flippa sales went to end users like Leaking.com, vrio.com, dispatchsoftware.com, vapingsupplies.com, riversiderealty.com, redbrain.com).
The uniqueness of Flippa is to provide a “sales pitch” area so that you can write a nice sale pitch and explain how the domain can be used. And also it shows feedback from previous listings which has helped me to sell more domains, unlike other marketplaces.
You also joined our brokerage program just about a month ago. Have things improved for you since then, and if so, how?
I was getting many requests to do brokerage so I started a brokerage. So far it’s been good and I’ve brokered domains like Purify.net, Antibiotic.net on Flippa successfully. I have also listed uMad.com, and plan to list more domains soon.
What makes you different from other brokerages and does your brokerage specialize in any specific type of online assets?
We have a specialized team and do outbound outreach as well. We will contact well-qualified leads only. We are looking for single word .com/.net/.org/.io or liquid(3 letter .com’s) domains for brokerage. I have sold most of the domains to same buyer(s) and have a good client base who are actively looking for bulk deals. Anyone looking for our service will contact me at [email protected] or message on Flippa.
For people out there who are interested in selling their online businesses, what advice would you give them?
Opportunities are everywhere and you need to study the marketplace and analyze the sales from the specific marketplace and list the similar domains/online businesses and make a reasonable reserve to encourage the bidding.
Praveen is a founder of BuyBrandweb.com and also a crypto investor. Praveen is passionate about technology and specialized in networking. You’re welcome to schedule a call at BuyBrandWeb.com or connect with him directly on LinkedIn or follow on Twitter.