When Entry Multiples Don’t Matter
Ben's Blog
AUGUST 17, 2020
Imagine there is a hot, bottoms-up $60M revenue B2B software company raising at a $4B valuation. When Salesforce went public in 2004 as a new kind of CRM provider, its S-1 indicated the CRM applications market was $7B. That’s a whopping 67x revenue. Not too shabby! Would that be a good deal for shareholders entering at this stage?
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