From the research sweep
What two days of reading listings turned up.
We reviewed 36 live listings across the major marketplaces. Every pattern below is
one we actually encountered, and every one is anonymized. We do not name a listing,
a seller, or a buyer, ever. These are the patterns we screen for.
01
A payment ledger written into the site's own code
The transaction history shown to buyers as evidence of revenue was hard-coded into
the site's own JavaScript bundle. There was no payment processor behind it and no
real transactions to reconcile against.
What we screen for
We read the front-end bundle and look for revenue that has no payment rail underneath it.
02
An ARR headline the listing itself contradicts
A prominent annual recurring revenue figure that does not reconcile with the monthly
numbers printed further down the same page. The two versions of the business could not
both be true.
What we screen for
We reconcile every stated figure against every other figure the seller has published.
03
Platform reviews that the platform never issued
Testimonials and marketplace ratings presented as independent third-party proof, with
no matching record on the platform they were attributed to.
What we screen for
We go to the source and try to find each cited review where it is supposed to live.
04
"Assets" that cannot legally transfer to you
Ad accounts, monetization approvals and platform audiences listed among the assets
included in the sale, where the platform's own terms prohibit transferring them to a
new owner. You would be paying for something you cannot receive.
What we screen for
We check each headline asset against the terms of the platform it lives on.