As the proverb goes, one man's trash is another's treasure. One local startup seeks to provide a marketplace for unwanted apps and websites. FlipWeb.co describes itself as "the marketplace for buying and selling established, profitable websites and online businesses" and "breathing new life into websites and apps."

In an interview with The China Post, FlipWeb.co founder Lin Ke-wei (林克威) explained why he started the company, how it operates and generates revenue, and where he sees the company going in the future.

"With a growing number of really creative, breakthrough website and platform designs out there, it's a shame some don't make it. They are some great ideas adored by users, but their developers lack the management experience needed to keep the startup afloat," Lin said.

Observing the rise and fall of once-promising business ventures such as classified ads startup Kijibuy (奇集集), online job portal Wiwi, and the "LinkedIn for engineers" SUDO, Lin saw a big opportunity in filling the market gap for a website exchange platform.

"This is also why I decided to start FlipWeb.co," he said. Lin said FlipWeb.co first asks buyers and sellers to provide basic information, including their web traffic, current business conditions and company profiles.

"We help to ensure the rights of both parties and facilitate the transaction... and to mitigate risk, funds will only be wired after the buyer checks the product for any flaws." He said FlipWeb.co will expand beyond websites, and into social media accounts, blogs and mobile games, in the foreseeable future, adding that they have plans to expand to the Chinese mainland, Hong Kong and Southeast Asia.