I'm gearing up to sell my e-commerce business in the next year. I keep hearing mixed opinions: some say social media (LinkedIn, Twitter/X, even Facebook groups) is where real buyers hang out, while others swear by traditional listing sites like BizBuySell or Flippa. What's your take? Have you actually sold a business through social media, or is it just noise? I'd love to hear real experiences.
Marketing
Are social media platforms better than listing sites?
Sold a small SaaS last year via a Facebook group of all places. Buyer was already in the niche and saw my post. But that was lucky. Most of the time social is just tire-kickers. Listing sites filter better.
Noise. Unless you’re in a very specific B2B space on LinkedIn, it’s mostly brokers pretending to be buyers. Listing sites at least have a process.
Interesting question. I think it depends on deal size. For sub-$500k businesses, social can work because buyers are often individuals. For anything bigger, no serious acquirer is scrolling Twitter for deals. They use brokers, listing sites, or direct outreach. Also, listing sites give you NDA protection and some vetting. Social is wild west. But I've seen people sell tiny Shopify stores via Instagram DMs. So there's that
Tire-kickers made me laugh. So true. I listed on BizBuySell and got 30 inquiries, 2 serious. Posted on LinkedIn once and got a guy asking if I'd take $5k for a $200k revenue business. Yeah, no.
Social media is better for building a personal brand before you sell. Buyers want to see the founder, not just a listing. But as a direct sales channel? Meh. Listing sites still win for me.
I’ve bought two businesses off listing sites and one through a Twitter DM. The Twitter one was a nightmare due diligence-wise, but it worked out. Listing sites are more professional, but social can surface off-market deals. Just be ready for a lot of weirdos. Also, why is everyone ignoring the fact that listing sites cost money? Social is free. That matters for small sellers.
Yeah, but you get what you pay for. Free means no filter.
I’ve been around the block a few times. Listing sites have been around for a reason. Social media is a fad for this kind of transaction. Just my two cents.
I wouldn't call social a fad, but it's not a replacement. It's a supplement. Use both. List on a site for legitimacy, and leverag LinkedIn to get direct visibility. That's what worked for me.