In a world where anyone can list a website for sale, Empire Flippers accepts only 5% of submissions. Why?
Because their marketplace has become the gold standard for serious buyers.
Every listing undergoes rigorous verification through APIs, financial checks, and seller background screening.
In this interview, CEO Andy Allaway shares what’s really happening in today’s market.
And what separates million-dollar website listings from the rest, including a rare look at a 20-year-old news site generating $60K monthly that passed their strict vetting process.
Plus, Andy answers the big question: Is it still worth buying or selling online businesses in 2025?
Whether you’re looking to buy your first website or sell your 7-figure e-com brand, this interview is packed with value.
Click below to watch the full interview and hear it straight from the top.
From the wild west days of eBay to sophisticated broker marketplaces of today-see how Empire Flippers have created a safe and reliable marketplace for serious buyers and sellers of online businesses…
In a digital economy where online businesses can change hands for millions of dollars, understanding how to navigate the website marketplace has become an essential skill for entrepreneurs and investors.
The days of purchasing websites through eBay listings are long gone, replaced by sophisticated marketplaces that vet sellers, verify revenue claims, and facilitate transactions worth millions.
Andy Allaway, CEO of Empire Flippers, one of the world’s largest online business brokerages, recently shared exclusive insights into the current state of the market, revealing opportunities for both buyers and sellers in this evolving space.
From the dramatic shifts during COVID to today’s more normalized market, Andy’s perspective offers valuable intelligence for anyone considering entering the website acquisition game.
How Online Business Brokerage has Evolved
When Matt Raad purchased his first website in 2008, the transaction happened on eBay.
“We asked the seller, ‘Why are you selling this on eBay?’ And he replied, ‘Why are you buying on eBay? Same reason. Where else do we sell these websites?'” Matt recalled.
But the marketplace has evolved dramatically since then, with specialized brokers transforming how online businesses change hands.
Empire Flippers Bridges the Gap between Traditional and Online Brokers
Empire Flippers has positioned itself in what Andy describes as the middle ground between pure marketplaces and traditional brokers.
“The way I view our industry is on one end, you have the true marketplace plays, which is lots of tech, low service, DIY. On the other end, you have the more traditional brokers with lower tech but higher touch,” Andy explained. “We sit somewhere in the middle—we’ve got industry-leading platform technology with a pretty big engineering team, but then we layer people on top to make it a more curated, handholding experience.”
They use a selective approach to list businesses that are verified and trustworthy
This hybrid approach provides significant value for serious buyers and sellers. Their vetting team verifies every number that appears on their listing pages, largely through APIs connected to platforms like Amazon and Shopify. They also conduct background checks on sellers to ensure legitimacy before listing a business.
“We get somewhere in the region of 150 online business submissions every week, and we only list about 5% of those.” Andy Allaway – Empire Flippers.
This highly selective process helps maintain the quality of listings on their platform and explains why Empire Flippers has built a reputation for trustworthy deals.
How the Valuation of Online Business Has Evolved for Sophisticated Buyers
The online business marketplace has experienced extraordinary volatility over the past seven years. Andy breaks this period into distinct phases that illustrate just how dramatically conditions have changed for buyers and sellers.
Phase 1: The Growth Era of Slow, Steady Valuations
“When I first joined Empire Flippers in 2017, we were growing nicely as a small team of about 20 people,” Andy recalled. “The valuations were generally good, the economy was generally good, and things were growing steadily.”
Phase 2: Online Business Valuations Exploded During the Pandemic
Then came what Andy calls the “COVID era” from 2020 to 2022, when the market went “completely insane.” During this period, Amazon FBA aggregators were particularly active, creating unprecedented demand.
“The concept of a ‘wire race’ where multiple buyers would send money simultaneously for smaller sites wasn’t that different from what was happening with seven-figure FBA businesses during that period,” Andy explained. Businesses that previously sold for around three times annual net profit (36× monthly) were suddenly commanding five to six times multiples.
Phase 3: Market Correction of Website Valuations
The market correction arrived toward the end of 2022 and throughout 2023, creating unique challenges.
“What made that year particularly tough was that sellers were still married to their earlier valuations,” Andy observed. “Buyers had moved on, but sellers hadn’t.”
This valuation disconnect meant that even minor issues discovered during due diligence would derail deals, as buyers were already at their maximum price point while sellers were at their minimum.
Phase 4: The Era of Long-Lasting, Creative Deals
Which creates uniquie opportunities for first-time buyers…
Today, valuations have largely returned to pre-COVID levels. “If you compared today’s valuations to 2018-2019, they’re roughly comparable,” Andy noted. However, he pointed out an important shift in deal structures:
“We’re seeing more creative deal structures than previously. Through the peak periods, even larger deals were commonly all-cash. Now, some portion of sellers should expect seller financing, particularly on larger deals, and it could be tied to performance.”
This normalization creates opportunities for first-time buyers who may have been priced out during the pandemic boom. With seller financing increasingly available, the barrier to entry has lowered considerably for those looking to acquire businesses in the $100,000 to $300,000 range.
3 Things that Make an Online Business Valuable in Today’s Market
In the current environment, certain business characteristics consistently command premium valuations. Andy identified three key factors that buyers value most:
1./ Rate of Business Growth
First and foremost is growth trajectory. “The big one is if the business is showing strong year-on-year growth—that’s a big tick in the box,” Andy emphasized. In a marketplace where many online businesses have experienced flatter performance post-COVID, business that demonstrate consistent upward momentum stand out dramatically.
2./ The Business Has Solid Systems in Place
Second is operational independence from the founder. “A business that runs without the seller is super important,” Andy explained.
Having a team in place, documented processes, etc., significantly increases buyer interest and valuation multiples because it reduces transition risk.
3./ Diversification of Online Traffic
The third factor has become increasingly important in recent years: traffic diversity. “More than ever, some form of diversity in traffic, particularly if that’s owned media, makes a difference,” Andy noted.
“If you have a good email list you’re using to some degree, or a social following, that de-risks the business for buyers.”
With Google’s algorithm changes in mid-2023 crushing many affiliate sites, businesses relying exclusively on search engine traffic have become less desirable.
Example of High-Value Online Business Listed on Empire Flippers
An example of a high-value content business currently listed on Empire Flippers illustrates these principles perfectly. “It’s a daily news site in the science space that’s been running for over 20 years,” Andy shared. “It makes about $60,000 monthly in profit, mostly from display ads through Mediavine.”
What makes this business particularly valuable isn’t just its impressive revenue but its longevity, established systems, and the strategic value it offers potential buyers in the science publishing space.
Understanding Buyer Profiles when Selling Your Online Business for Top Dollar
The profile of website buyers varies significantly across different price points, creating distinct marketplaces at various investment levels. This understanding is crucial for sellers looking to position their businesses effectively.
1./ Individual Buyers
“In the $100,000 to $300,000 or $400,000 range, we still have plenty of individual buyers,” Andy explained.
“These are high-net-worth individuals who maybe want something alongside their 9-to-5, or want to quit their 9-to-5 and do something different.”
2./ Professional and Institutional Buyers
The dynamics shift substantially as deal sizes increase. “Once you get above the $1 to $3 million range, that’s where you start to see more professional institutional money, whether it’s small private equity firms or companies that roll up a few businesses to create a small portfolio,” Andy noted.
3./ 7-Figure Strategic Buyers
For seven-figure deals, Empire Flippers employs a more targeted approach. “When we have those seven-figure businesses, we do a lot of proactive outreach,” Andy explained. “We run campaigns specifically targeting companies that would make a good strategic fit for the listings we have.”
This targeted approach has proven particularly effective, as evidenced by the significant interest in the science news site currently listed at $3 million.
The most lucrative acquisitions often come from strategic buyers.
“The classic strategic acquisition thing—if you can find a buyer where they can take their one, add it to yours, and it makes three instead of two—that’s when you get the top dollar valuations for sellers.”
Navigating the Purchase Process Safely for First-Time Website Buyers
For first-time buyers, understanding the acquisition process provides important context. Empire Flippers has streamlined this journey while maintaining rigorous verification standards to protect all parties involved.
The process begins with buyer verification. “Even to unlock the confidential information on a listing, buyers have to verify their ID and their liquidity,” Andy explained. This initial screening helps ensure that only qualified prospects advance to serious discussions.
When a buyer expresses serious interest, they submit a Letter of Intent, granting them exclusive due diligence for a period typically ranging from 30 to 60 days. “Smaller deals tend to be on the lower end of that range—some buyers only need two weeks,” Andy noted. “Larger deals with more third parties involved can take longer.”
Empire Flippers facilitates seller financing arrangements, which have become increasingly common.
“We typically stay very involved through that earn-out process. Particularly on content sites, we’ll hold the domain during that period, acting as an escrow for the domain and releasing it to the buyer once the seller is paid.”
This escrow service provides significant protection for both parties, addressing one of the primary concerns in online business transactions. It ensures sellers receive their full payment while giving buyers confidence that they’ll gain complete control of the business once all financial obligations are fulfilled.
The Impact of AI on the Online Business Marketplace
When asked about the impact of AI on the website marketplace, Andy offered a measured perspective.
“There was a lot of talk about AI 12 months ago and how it may or may not impact things. But I don’t know how much we’re seeing it show up in the day-to-day of buying and selling at the moment.”
Rather than disrupting the market, AI appears to be enabling entrepreneurs to build businesses more efficiently.
“We’re seeing a reasonable amount of our Empire Flippers traffic coming through ChatGPT now, which is cool,” Andy noted. From his perspective, despite concerns about “SEO being dead,” the fundamentals remain crucial:
“You still need to be doing SEO, but you need the fundamentals to make sure you show up in the LLMs now rather than just Google.”
This observation aligns with what many digital entrepreneurs are experiencing—the fundamentals of building valuable online businesses haven’t changed, but the tools and distribution channels continue to evolve.
Taking Your First Steps in Website Acquisition on Empire Flippers
For newcomers to the space, particularly those transitioning from corporate careers into digital entrepreneurship, Andy offered practical guidance on how to begin.
Step 1: Schedule a Call with Empire Flippers
“Even if you’re right at the beginning of your journey and taking the first steps, I would schedule a call with one of our team and just speak to them about what you’re thinking of doing,” Andy recommended. “We’re very happy to talk to people at whatever stage they’re at. We have team members who have seen hundreds of businesses and spoken to hundreds of buyers, and they’ll be very happy to give you 15 minutes of their time and some advice.”
This consultative approach reflects how the industry has matured from its eBay origins to today’s sophisticated marketplace. First-time buyers now have access to expertise that simply wasn’t available in the early days of website acquisitions.
Step 2: Consider Empire Flipper’s Referral Program to Earn Additional Income
For those interested in buying or selling an online business, Empire Flippers has also implemented a referral program that rewards connections. “We pay buyers and sellers if somebody refers them to us—20% of our fee, actually 30% on SaaS at the moment,” Andy explained.
“A few months ago, we had one particular deal with both a buyer referral and a seller referral, and we paid them each just under $80,000.”
Step 3: Keep Fundamentals in Mind when Browsing Listings
The online business marketplace continues to evolve, but the fundamentals remain constant: quality businesses with strong financials, documented systems, and diversified traffic will always find interested buyers.
For entrepreneurs looking to enter this space, the current market conditions—with normalized valuations and increased flexibility in deal structures—present attractive opportunities that weren’t available during the frenzied COVID period.
Want to Learn How to Buy Your First Website Safely?
Whether you’re looking to acquire your first website or planning an exit strategy for your digital business, understanding these market dynamics is the first step toward a successful transaction in today’s more rational online business marketplace. To learn the skills we teach specifically to buy and sell online business safely and effectively, check out our Free Masterclass.
