SimpleClosure Asset Hub: what it sells and the terms
The short answer
SimpleClosure Asset Hub is a marketplace for source code and workspace data like Slack and email. Built for closing startups, it now takes operating ones too. Gizmodo reported nearly 100 deals at $10,000 to $100,000 per company. The company must hold consents from people in the data.
Asset Hub belongs to SimpleClosure, a startup shutdown service. It suits companies that are closing. A working company with years of records has other buyers, compared in the buyers directory.
What can a closing startup list on Asset Hub?
The launch release (Business Wire via Yahoo Finance) sorts assets into three groups:
- Live: source code, meaning Git repositories and production code.
- Beta: workspace data, meaning email, Slack, Notion, Google Drive and internal documents.
- In development: domains, patents, trademarks and physical equipment.
It names the buyers as AI labs, reinforcement learning researchers and enterprise AI companies. No individual buyer is named.
How does a sale work?
SimpleClosure's AssetHub page says every dataset is processed for PII before it is licensed. Its terms make no such promise.
After an acquisition, its terms give the buyer the right to use, modify, license and sell the assets. The buyer needs no further consent and owes no pay, unless a separate agreement says otherwise.
How much does it pay?
Gizmodo wrote, citing Forbes, that SimpleClosure had processed nearly 100 deals in the past year. Payouts were $10,000 to $100,000 per company. The article doesn't say whether SimpleClosure takes a fee. The terms of service, leave fees to a separate order form.
The full price discussion is in how much does SimpleClosure cost.
What do the terms ask of the seller?
The terms ask you to confirm two things. You hold the rights to the assets. You have given notice to, and obtained consent from, any individuals whose personal information is inside them. You also indemnify SimpleClosure for claims that arise from those promises. Its own liability cap is the greater of six months of amounts you paid or $100.
Marc Rotenberg of the Center for AI and Digital Policy told Gizmodo the records identify people. The consent promise is the clause to read closely. Run the rights check and read reps and warranties first. Evidence on the company is in is SimpleClosure legit.
Talk to a privacy or commercial lawyer in your state before you sign.
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