Ever wondered where businesses turn to when they want their business to get acquired? Or how about when another company is ready to acquire technology to fuel growth?
For companies developing hot solutions, likely the suitors approach them. But for everyone else I’d imagine it can be difficult attracting suitors when one’s personal network just isn’t cutting it.
Today Toronto’s BizON officially launched, a startup marketplace that connects general business people looking to buy or sell a business. BizON doesn’t focus explicitly on Internet startups, but rather any type of business. Nevertheless, it can be a handy tool for a startup looking to sell.
BizON claims that its community has accumulated over $22 million in business listings since it went live to the public 10 weeks ago, with a membership growth rate of 47 percent month-over-month.
According to CIBC World Markets Inc., 310,000 business owners will exit ownership or transfer control of their business within five years, so BizON feel their online platform can attract a high level of users.
The company seems to be playing up security and discretion as a main feature in their platform, which is likely a top concern among any founder looking to sell. Members must pay a subscription fee to be part of the service (a clever business model that both brings in revenue for the startup and provides a feel of legitimacy for users), “to ensure that only serious purchasers are able to view a listing without compromising discretion.”
BizON was founded by Nunzio Presta in 2012.