Some what popular banner exchange site Entrecard is on the market.

The site is currently listed on Sitepoint with a starting bid of $100,000 with the owners saying there is a reserve close to $1 million dollars. Traffic numbers for the network see banner impressions at 80 million a month across 20,000 blogs with 100 new blogs joining the network each day.

Where the sale struggles though is on financials: Entrecard is currently pulling only $2000 a month, although naturally the site is being pitched a having great potential in delivering more, with a $30,000 figure mentioned. The owners also claim they nearly sealed a round of $700,000 with a future round of $2-5 million based on an $8 million valuation, but the deal fell through because “in the 11th hour, right before the terms sheet, because they lost faith in my ability to execute the plan after a series of tests in which I did not know I was being tested.”

There is potential in the site, and it’s not a bad service, but $1m based on $2,000 a month is multiple of 500 times…and it’s just not going to happen. $100,000 on a 50x multiple though might work, even if it’s a little rich considering usual multiples considered in deals of this nature.

You can follow the auction here.