Category AI captioning SaaS · Listed Flippa, verified listing, France Asking $110,000 (reduced from $175,000) · MRR $5,614 · Monthly profit $3,000 · Margin 51% Subscribers 237 · Churn 13.2% monthly in the description, 15% in the data field · Age 3 years Asking multiple 3.1× profit and 1.6× revenue
The listing prices this at 3.1× profit, below the 3.9× median for confirmed SaaS transactions. It is 100% organic, three years old and has run for four months with no human intervention.
The listing states the churn rate. It does not say what that rate requires of the buyer.
| Risk-adjusted multiple | 2.5× |
| IRR at the asking price, acquisition holding MRR flat | 25.5% |
| Maximum defensible offer at a 30% IRR, same case | $101,000 |
| Annual net revenue retention | 18.3% |
| Half-life of the current customer base | 4.9 months |
At the asking price the return is under 30% even on the favourable case.
At 13.2% monthly churn the base loses about $741 of MRR every month. At the listing's average of $23.69 per subscriber, that is about 31 subscribers a month. The listing does not state expansion, so we assumed none.
The listing reports 27,907 page views a month. Holding MRR flat means roughly one new paying subscriber for every 900 page views, every month, from organic search alone. The listing does not give the current rate of new subscribers.
If acquisition keeps up exactly, MRR stays at $5,614 and the model returns the 25.5% above. If new subscribers fall short, the base shrinks fast. With no new MRR from the day of closing, MRR falls to about $1,030 after twelve months and about $34 after thirty-six. The IRR is then negative 65%, and the maximum offer for a 30% return is about $14,000.
The description says improvements "could enhance customer lifetime value significantly." At this churn the average subscriber stays about 7.6 months, which is our calculation from the disclosed rate. That is the figure a buyer would be trying to change.
The listing says growth is "supported exclusively by organic SEO." The model treats a single source above 70% of traffic as a risk, and we apply it here. The treadmill above depends on that one channel producing 31 subscribers a month, with a search algorithm the buyer does not control.
MRR is $5,614 in the data fields and "approximately $5,100" in the description. Churn is 15% in the fields and 13.2% in the description. We ran the model on the 13.2% and the $5,614 base, which favours the seller. On $5,100 of MRR the maximum offer falls to about $92,000.
The listing also mentions "supplier accounts" and "AI integration" without naming a supplier or a cost. Expenses of about $2,880 a month are not itemized. That figure is our calculation from the disclosed profit and margin. We did not apply the model's API-dependency adjustment because the listing does not say a vendor is involved. It is a question for the seller.
| Adjustment | Effect |
|---|---|
| Market median, confirmed transactions | 3.9× |
| Monthly churn above 5% | −0.9× |
| 100% of traffic from one channel | −0.5× |
| Risk-adjusted | 2.5× |
Without the channel adjustment the multiple is 3.0× and the maximum offer is about $109,000.
$100,000, with 30% held back as a twelve-month earnout. The earnout pays out if MRR measured in Stripe is at least $5,100 at month twelve.
The structure leaves the retention and acquisition risk with the person who knows how both work. A seller confident in the base loses nothing. Before any offer, we would ask for monthly new-subscriber counts for the last twelve months, the expense breakdown behind the $2,880, and the name of each supplier.
Above $101,000 the return falls under 30% even if every subscriber that leaves is replaced.
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