I've sold a few small tiny businesses and some of the potential buyers are just students in their dorms with extra time on their hands. They have a bit of cash they can part with and just want to run a tiny site or Saas as a hobby more than anything. It's also a great way to get feet wet before they finally execute on that "great idea" they have :)
Honestly I'd probably never trust a business doing this. From my POV they're probably just after cash from a buyer, not a good place for my data.
I know I'm probably an outlier though, I don't think I've seen anyone else note a lack of privacy policy on the names one for example