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I would hate to look a gift horse in the mouth but, whom will be retaining the other 20%? Just curious.

All considering I'm interested -- I operate a hosting provider and would love to take this off your hands to help out the users and keep it rolling.

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I would like to retain the other 20%

IMO 20% is very little steep to keep. Granted you launched the product, got lucky with press, and got some signups, but there is no clear way to make money, which is arguably the most difficult problem to solve. What if the correct business model requires a huge pivot? I think 5-7% would be more reasonable as the person inheriting it is effectively just buying a userbase.

4 downvotes and no comment to even suggest why my thoughts might be off. This is why I love HN.

80% of 2000+ teachers is 1600+ teachers. So essentially you are saying that buying a user base of 1600 users for a $1 is a bad deal? If he was charging for this I might agree with you but at $1 it is a steal for someone looking for an idea to hit the ground running with.

$1 + 20% equity. 20% equity is huge especially considering he will no longer work the project. That is 1/5th of the company.

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