GigaPal.com and ElectronicBytes.com for sale - information as requested...

**CrunchBug** · 05-17-2005 11:28 PM

In a previous thread I started I wanted to notify the Young Entrepreneur community that I was looking for web designers and web programmers for an enormous venture I am undertaking.

In my post I briefly mentioned that after growing GigaPal.com's profits by 3,439% to over $49,496.42 in less than 8 months, I will be listing www.gigapal.com and www.electronicbytes.com for sale on Sunday May 22nd on eBay. I only mentioned this because I wanted to explain why I was starting a new venture.

As it turns out, many of you have inquired about the websites for sale with very similar questions. I've decided to submit this post to answer your questions.

I am going to provide a link below that will give you the auction details for GigaPal.com and ElectronicBytes.com to help answer the majority of the questions that have been sent to me. The descriptions are too long to paste in this post.

I hope this information proves useful.

GIGAPAL.COM INFO:
http://www.electronicbytes.com/gigapal.htm

ELECTRONICBYTES.COM INFO:
http://www.electronicbytes.com/electronicbytes_sale.htm

**Jeff** · 05-18-2005 08:29 PM

Cool, Thanks

**blueeyebrit** · 05-19-2005 01:13 AM

What system are you using to monitor / track your unique visitors and hits?

**CrunchBug** · 05-19-2005 02:24 AM

My web hosting comes with an advanced Plesk Admin which provides detailed web traffic information and statistics as well as many other features.

**Outta Hand** · 05-19-2005 09:24 AM

My only question is why sell such a successful business? I mean couldn't you hire someone to run this for you and you could still go into your next venture?

If you sell this business are you going to get a cut of the profits?

**Jeff** · 05-19-2005 11:36 AM

No doubt both of these sites will go for a good amount of money. This could be a good oportunity for a partnership.

Anyone?

**CrunchBug** · 05-19-2005 01:17 PM

I do currently have an employee who works 20 hours a week for GigaPal. He is paid hourly to fulfill orders, answer customer emails, perform credits and returns, as well as other side projects I give him to improve the site. The hired help option has proved very valuable for GigaPal, because it's freed up a lot of time for me to work on other projects.

I can tell you that hiring someone to do the work for you does work, because it works very well for me. But honestly, my next venture is going to require a lot of money to successfully launch, and I would like to "cash in" on GigaPal, because it is worth a lot of money. I will invest the money GigaPal sells for into my next venture, which, by the way, is not related to any software or retail industries.

In reply to your question on whether I will receive a cut of the profits after GigaPal sales, no I will not. GigaPal is not an affiliate program, nor is it linked to any other sites I own. Our vender/supplier list that we will give the new owner of GigaPal includes companies that have no connection to me at all. GigaPal is a real business, who independently buys and resells products. GigaPal is built on solid marketing and fulfillment strategies, and the new owner will have full control over every aspect of the company.

On a side note, I spoke with a PR company yesterday. I am investigating generating international media attention over GigaPal's story to drive more investors to the auction bidding and also generate interest in getting investors for my new venture. Many media companies may latch onto the idea that I was only 18 years old when I launched GigaPal and that in less than 8 months its profits grew by 3,439%. I may postpone the auction launch for a week or two to allow time for the PR firm to collect a media list for us and send out press releases that will internationally announce GigaPal's sale.

I plan on finalizing these plans by Friday so I can make a decision whether to launch the sale on Sunday or wait another week.

I hope this helps answer some of your questions. Thank you for your interest.

**roxbrand** · 05-19-2005 05:52 PM

Do you have any financial records that you can share with us. I would like to see a Profit Loss Statement since the begin of gigapal. Thanks

**CrunchBug** · 05-19-2005 05:56 PM

Yes I do. I'll get it ready and post it up for you.

**Jeff** · 05-19-2005 07:35 PM

Your only 19?
Wow! I aplaud you!

**CrunchBug** · 05-19-2005 08:23 PM

Actually, I turned 20 in February. Thank you for the applause though, I appreciate it.

The following links provide financial detail about GigaPal.com:

GigaPal Merchant Bank Account Information
http://www.gigapal.com/firstregionalaccount.pdf

GigaPal Chart of Sales and Profits
http://www.gigapal.com/GigaPal_Sales.xls

GigaPal Advertising Expenses
http://www.gigapal.com/Advertising_Expenses.pdf

Our merchant provider requires all merchants to use a First Regional "Merchant" bank account for all processing. What this means is that all credit card sales are deposited into our Merchant Bank Account in California, and then we are permitted to transfer money by writing checks from that account and depositing them into our Business bank account here in Pittsburgh. It's kind of a pain for us, but our merchant account has no processing limits and extremely low processing fees, so it is worth it for us to comply with these rules. I think our merchant account provider requires their merchants to use a bank account out of first regional because they have more control over the flow of money in and out of the accounts.

The fact that we withdrew the majority of the money deposited each month in order to actually have it in our business account here in Pittsburgh should explain why the deposits and withdraws are almost equal each month.

The GigaPal Chart of Sales and Profits shows every single order GigaPal has received, the total amount received from the customer, our total cost per product, and our total profits for each month. At the bottom of the chart is a grand total of profits to date.

The GigaPal Advertising Expenses shows how much money we've spent in Google Advertising expenses, which makes up about 99% of GigaPal's marketing costs.

Hopefully this information will help answer any questions you had about GigaPal's financial history. Thank you for the inquiries.

**Antdizzle** · 05-19-2005 08:38 PM

I can't access anything at Gigapal.com. I don't know if it just me or the website.

**waveformpc** · 05-19-2005 08:57 PM

Originally posted by Antdizzle
I can't access anything at Gigapal.com. I don't know if it just me or the website.

Works fine for me...

**Antdizzle** · 05-19-2005 08:59 PM

Now it works fine. It wasn't working for most of the day.

**CrunchBug** · 05-20-2005 07:18 AM

A quick note. I forgot to mention earlier why February only made $752.13. We made major changes to the database, website set-up, and hosting server, so we had the site down on and off for a good 4/5's of the month. March, April and May have made up for it with sales.