[nickfromseattle]

How / why do they want to white label it? Do they already have sales/marketing channels established?

If it's a good fit for your business, white labeling is a fantastic business model.

The largest benefit is having other people investing their time and dollars selling and marketing your product for you.

You have to think carefully about what you decide to offer though, for example someone else in this thread mentioned custom domains.

It's very easy to get sucked into custom development for someone over promises but ultimately doesn't execute on distribution well enough to justify your time building the feature.