Six things that decide which room to pick
Most buyers compare logos. Compare these instead.
- Price you can read. If the vendor will not publish a number, you will negotiate against a sales team. Published plans let you budget before the first call.
- Who pays for seats. Sellers, brokers, lawyers and accountants need access. Some vendors charge per invited user. Others let invited parties view and upload for free.
- Folder permissions. The lender should see financials, not employee records. Per folder permissions, expiring links and a view audit log matter on any deal with more than one outside party.
- Q&A. Every gap becomes a question for the seller. A Q&A module keeps requests, answers and dates together instead of in email.
- Review tools. A room that only stores files leaves the reading to your team or your advisors, who bill by the hour.
- Start time. If you must book a demo, wait for a quote and then onboard, a letter of intent exclusivity window is already running.
How the main options compare for a small buyer
| Option | How it prices | Fit for a small acquisition |
|---|---|---|
| Acquisitions | Deal 149, Team 299, Fund 599 USD per month, published | Built for buyers, AI review of financials and contracts, invited parties free |
| Ansarada | Quoted per deal | Strong process tools, better for sell side and larger deals. See the Ansarada comparison |
| Firmex | Quoted per project | Established, sales led. See the Firmex comparison |
| Datasite | Quoted per project | Large auctions and bank led processes. See the Datasite comparison |
| Shared drive or file sharing folder | Often already paid | No audit trail by default, weak permissions, no review. Fine for a very small asset, risky once a lender joins |
We do not quote competitor prices here because they are not public. Ask each vendor for a written quote naming duration, users and storage, then compare totals. The virtual data room cost guide explains the four pricing models.
A three month review of a 3 million USD business
A buyer acquiring a 3 million USD services company expects about 90 days from letter of intent to closing. With two internal users, a lawyer, an accountant, a lender and a seller's broker, six people need access. On a flat plan such as Deal the cost is 447 USD at monthly billing, or 894 USD if you take the annual rate and run a second deal. On a per user or per project quote, the same six people and 90 days can land in the low thousands. The gap is rarely the headline. It is the number of outside people and the length of the process.
Why storage alone is not enough
On a small deal the scarce resource is attention. A target usually hands over a stack of PDF statements, customer contracts and a lease. The valuable work is spotting the contract with a change of control clause, the expense line that jumped, the customer that is 40 percent of revenue. Acquisitions runs an AI review across financial statements and contracts and returns red flags you can turn into seller questions. It highlights potential issues. Your advisors decide what they mean for price. If statements arrive as scanned PDFs, a bank statement to Excel converter gets the transactions into a sheet you can reconcile against reported revenue.
Before you subscribe
1. Confirm the price in writing for your duration, users and storage.
2. Confirm that the seller's broker, lawyer and accountant can join without a paid seat.
3. Test permissions with a dummy folder and a restricted guest.
4. Upload one real contract and one financial statement and see what comes back.
5. Check how you export the Q&A log and the findings for your lender and counsel.
See financial due diligence and documents for due diligence for what to request.
FAQ
The best room for a small deal has a published price, no per-user fees for the seller's side, folder permissions and some way to review documents beyond storage. Acquisitions Deal at 149 USD per month fits that profile. Banker led auctions may require an enterprise provider.
Budget a few hundred to a couple of thousand dollars for a three month review. Flat plans start near 149 USD per month, while per project and per user vendors quote from the low thousands. Ask each vendor to price the same duration, users and storage.
Not legally, but you need one place for versions, requests and an audit trail. Lenders and counsel expect organized records. A room replaces email attachments and shows exactly what the seller has not yet disclosed.
No. Your analysis, flags and report stay with your team. Invited sellers, lawyers and accountants only see the folders you share with them and can view or upload without a paid seat.
Run your first document before you commit
Analyze a document to see an Acquisitions red flag report, then choose a plan on the pricing page.
