I reported in mid-December that Easy Content Types — one of Pippin Williamson’s oldest commercial plugins — was for sale. He has now announced that he sold the plugin to the owners of CodeInWP. The sale amount was $15,000 for the plugin and various assets associated with it.
Pippin was seeking around that amount ($20,000 goal initially), and the sale price represents around 1.5x of current annual revenue. Both Pippin and Ionut Neagu of CodeInWP see a lot of potential for the plugin.
Pippin was seeking a buyer that would actively maintain the plugin, and CodeInWP is investing heavily in their products right now. They’ve done very well monetizing their theme business — ThemeIsle — by marketing upsells to free themes on WordPress.org, amongst other strategies.
CodeInWP, like Pippin, also believe in transparency in their business to share what they’re learning, and have been doing transparency reports for the last year. In the latest transparency report, Ionut reported that they made over $100,000 in revenue in November, and they have a relatively small team. He told me that the plugin acquisition was a good opportunity to invest some of the cash they have available, and they believe it can be a quality offering to complement their theme business.