It depends on how one looks at it. Since he gave three years of his life to it, I would be inclined to say that the sell price was low, especially considering his experience in the space. On the other hand, perhaps he has a job lined up already and this was simply a bit of housecleaning to get him back to the less stress role of working for someone else.

All that said, many people start sites, work on them for years and get 'no' payout, so him getting 'anything' could be seen as landing on the up side of what is usually a sad entrepreneur story.