We spent quite a bit of money and time building a great IT career Site.
In the meantime, another opportunity that's more lucrative with less competition came up.
So we are looking to have the Career Site turned over to a company that's willing to White Labeleled as their and run it. We would make a Business Arrangement about how to split the profit (if any). They would be in charge of all the marketing and everything else that goes into running the Site. I doubt if there is such a company or group but one never know.
NO NO NO!!! Donald, rather that give away your company for 50% of future earnings, consider strongly in using up to 50% of your career site's profits to put in place a manager or a team to do these efforts for you. Selling your product would not be wise unless if you absolutely need to CASH OUT or need the money for your next venture.
If you do not, then consider doing it as a staff position. Finding the right talent may take time, but could eventually put your product on cruise control. Trust me, there are a lot of talented folks out there who are not only driven by money, but also accomplishment. See who you can find as a hire first before selling or sourcing a partnership with a marketing firm.
As SmartCompanySoftware pointed out, what you're talking about is basically an acquisition -- I'm not sure if private buyers are common (though this project got sold this way), so most likely you'd be selling to a bigger company.
The splitting thing is rather uncommon though, I believe. Most of the time, it seems to be more reasonable to sell the whole company or nothing at all. Probably because there's some kind of information asymmetry at work.