Then why do you suppose it was sold for just 3.2 mil?
Because while it supposedly has had 3/4 of a million registered users in the last 17 years, it's actual active user base is probably just a tiny percentage of that. I think 10% would be extremely generous, which means 75k active users, which puts the price per user at around $45, which is more than what Facebook paid for Whatsapp users.