๐ The bottom is not yet in
FTX liquidity crunch tanks the crypto market, but there's plenty of investment opportunities in our digital asset space
Hey there ๐,
In this weekโs ALTS by Flippa newsletter I discuss:
9 figure ecommerce brand buys content site for $1M in cash
Buying Onfolio (Iโm not the only one)
Youtube channel selling for over $60K
Latest Flippa Invest opportunity
Why crypto tanked and whatโs next for FTX
Every heading is a discussion channel in the Alts by Flippa discord community - come join over 1900 of us.
Cheers!
#contentsites
Glen Allsopp does a fantastic job of tracking media M&A at detailed.com and following on from reporting Fandom acquiring sites from Red Ventures, he tweeted yesterday that the ecommerce brand Ridge has acquired the content site everydaycarry.com for $1M in cash:
Glen typically reports on publicly listed media companies where they are, well, public about their acquisitions and the sites they own.
One that I personally track, having known Dom Wells, the founder & CEO, since 2016, is Onfolio which looks to me (not financial advice) that it may have bottomed after IPOing back in August:
And Iโm pleased to say Iโve picked up some stock and now own 0.1% of the company.
Travis Jamison wrote a great recent post on the potential opportunity with Onfolio called A real-world example of buying $1 for $.50:
So, by me buying Onfolio shares at the current price,
Iโm essentially getting a 50% discount on every business Onfolio buys.ย
Travis now owns 6% of the stock and has had to file with the SEC!
Back in May of 2020, when I still owned the publication, I wrote about how to value hidden assets that come with content sites:
Most people just list their social assets on their listing on Flippa without thinking of the added value they can bring to a deal.
A case in point is that a Youtube channel was recently sold on Flippa for $62K (8 bids).
Two years on, I bet thereโs still just as much opportunity for investors to buy websites with these hidden assets and be able to sell them separately.
#invest
Flippa Invest has launched its 9th opportunity with Anchor Yacht Charters. Anchor is the #1 yacht rental community in the world and Flippa's cohort of accredited investors are invited to own a piece of this fast-growth yacht charter marketplace.
Check out the offering here.
#crypto
It was a wild day in the crypto markets yesterday, and this 4 hour candle on Bitcoin (or almost any crypto asset) is the wildest one I can remember, ranging from $20,600 to $17,500 on Coinbase:
And the whole market is heading back down again today, with a 12% decrease on the last day:
So what one of the systemic risks or macro events happened?
Well this time it was the exchange FTX, with CEO Sam Bankman-Fried tweeting that its being acquired by the number one exchange in the space Binance:
This was confirmed by CZ, the CEO of Binance:
SBF seemingly couldnโt do any wrong in this space, up until his company almost went under. This is a great thread to understand why things got so bad:
The FTX token looked to be having a LUNA style collapse, having gone from $18 one day ago to now just over $4:
But perhaps 77% down may be the bottom, but Iโm not brave enough to play any potential bounce on this one.
Ok thatโs it for this week. If youโre reading this on the web and youโre not yet subscribed you can do so using the button above.
ALTS by Flippa is owned by Flippa. Nothing in this email is financial advice and we are not professional investment advisers. We send weekly updates on what we're doing personally - consider it informational and for entertainment purposes only.