Startups Stack Exchange Archive

Advice for giving up ownership of mobile app biz

I developed an iOS app which is currently for sale on the App Store. I’ve made a little bit of money on it but it needs updates and in app purchases developed before publishing reviews in trade magazines would be worth it. I freelance in film production (the app is for film pros). I don’t feel like writing code or running a business anymore but I think the app has potential and I don’t want to let it die. Does anyone have any advice on this? One thought I had was trying to find someone to give majority ownership to and consulting for them. Is there anything I should know before transferring ownership?

Answer 5656

It depends on what it’s worth to you, figure time, money and effort plus idea and you’re still at zero unless you show value (revenue:cold hard cash baby). Your value can be pitched by sales #’s, etc. Talk to brokers and if you’re not good in sales, if it’s worth it to you again, hire someone who will get you what u deserve from it


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