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Newsletter Startup United States
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Quantitative finance publications and a proprietary market data subscription business.

P&L Documents (1)
Asking Price
$199k
Multiples
2.6x profit
The asking price divided by TTM net profit.
Learn more about multiples
2.2x revenue
The asking price divided by TTM gross revenue.
Learn more about multiples
Annual Growth Rate
+148%
TTM Revenue
$91k
Profit
$76k
Last Month's Revenue
$7.1k
Profit
$5.8k

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United States

Quantitative finance publications and a proprietary market data subscription business.

A quantitative research audience, a 30-dataset market data platform, and the funnel that already connects them and produces revenue. Sell research to readers, licence data to funds, and monetise the same traffic twice. The asset includes 14,000+ Substack subscribers, 16,000+ Medium followers, 30 documented datasets, 554 published articles, 211,000 organic search impressions in the last 90 days and 300+ registered accounts, with publishing, card rendering, SEO and monitoring all running on automated schedules for roughly two hours of owner time a week. The audience is the moat. It is the cheapest acquisition channel this business has and it transfers with the sale. Research introduces a trading question, a dataset answers it with evidence, and the reader is routed to a trial. Blog readers reach the pricing page at roughly three times the rate of cold search. Every dataset is built from public and licensed primary sources through its own labelling, linkage and QA pass, so the value sits in the construction layer rather than in reselling a feed anyone can buy. The 554-article archive and 25 published studies keep earning impressions and links with no new work. The institutional motion is already running rather than theoretical. A top-three US market maker came to us through Neudata and its data sourcing team is in evaluation today. Behind that sit 196 SEC-matched funds already scored by holdings and event history and queued for outbound, with an enterprise pack containing the deck, data sourcing FAQ and evaluation template built and in use. Tickets at this level run $50,000 a year and above, so the cycle is long by nature, typically six to nine months to signature, and a handful of closes changes the P&L outright. That gap between work done and revenue booked is precisely what a buyer with sales capacity is being handed. Sponsorship inventory follows one unprompted inbound request, the enterprise anchor sits at $40,000 to $100,000, and 40+ dataset and article ideas are queued. The founder is moving to a new venture and the machine runs without him. A 30-180 day handover is included.
Asking Price
$199k
Multiples
2.6x profit
The asking price divided by TTM net profit.
Learn more about multiples
2.2x revenue
The asking price divided by TTM gross revenue.
Learn more about multiples
Asking Price Reasoning
The ask is not calculated as a multiple of subscription revenue, since the subscription line is the floor rather than the thesis. It is priced against enterprise deal economics and against the cost of rebuilding the asset. A single institutional licence at this level is worth roughly 140 retail subscribers, and the pipeline already holds a top-three US market maker in evaluation plus 196 scored funds queued behind it. Two closes on that curve doubles the revenue base at a fraction of the support load, and the price reflects that curve. Replacement cost runs well into six figures and twelve to eighteen months at freelance rates before the first dollar, and the ask sits below it with live revenue attached and the machine already running. Six to nine month enterprise cycles are the shape of this market, so they are priced in rather than adjusted for later. The asset is cheaper than building it and the sales motion is already moving.
Recent performance
TTM Revenue
Trailing twelve month (TTM) gross revenue.
$91k last 12 months gross revenue
TTM Profit
Trailing twelve month (TTM) net profit.
$76k last 12 months net profit
Last Months Revenue
Total gross revenue last month.
$7.1k last month gross revenue
Last Months Profit
Total net profit last month.
$5.8k last month net profit
Customer metrics by
Customers
Total unique customers who have made a purchase.
101-250 Customers
ARR
The total recurring revenue over the last full month, annualized (MRR × 12). Excludes one-time fees and variable usage revenue.
$119.6k ARR
Annual Growth Rate
The percentage change in revenue over the last 12 months compared to the previous 12 months.
+148% Annual Growth Rate
Churn Rate
The percentage of paying customers lost over the last 12 months.
0-1% downwards Churn Rate
Web traffic by Google Analytics
Company overview
Date Founded
March 2026
Team Size
Just me (1)
Business Model
  • Business-to-business (B2B)
  • Subscription
  • Business-to-consumer (B2C)
  • Multi-sided platform
  • Licensing
Tech Stack
  • Flask
  • MySQL
  • Python
  • Amazon Web Services
Growth Opportunities
  • Hire a sales team
The single highest leverage addition is one part-time SDR or business development associate, ten to fifteen hours a week. The addressable market is thousands of SEC-registered funds, and the first 196 are already ranked by their actual stock holdings and event history, so the role starts with a warm map rather than a blank spreadsheet. This is not a sales department and needs no ramp. Scripts, deck, data sourcing FAQ and evaluation pack are built, so the job is dialling and booking, and it can run on a small base plus commission so cost tracks closed deals.
Competitors
  • Massive.com
  • Benzinga
  • RavenPack
  • DataBento
  • Quiver Quantitative
  • YipitData
Key Assets
  • Codebase
  • Trade names
  • Intellectual property
  • Brand
  • Domain
  • Social media accounts
  • Customers
  • Website
Acquisition details
Selling Reasoning
  • Other
A client has offered me a seat to run a proprietary trading book. The business is sound, so it goes to market while it is healthy and the enterprise cycle is live, rather than after a slow decline.
Financing
  • Bootstrapped
Connected metrics
Web and customer metrics with real-time accuracy.

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