\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \u201cThis method compares the target company to typical angel-funded startup ventures and adjusts the average valuation of recently funded companies in the region to establish a pre-money valuation of the target\u201d<\/em><\/strong><\/p>\n\n- Berkus Method<\/u><\/strong><\/li>\n<\/ul>\n
It is also another valuation method for early-stage companies. It doesn\u2019t rely upon the company\u2019s forecasted revenues or the forecasted financials.\u00a0The Berkus method studies the crucial areas of the company and indicates a value ranging from each area.<\/em><\/strong><\/p>\nIn this method Investors Value the major elements of the Seed stage company.<\/strong><\/p>\n\n- Sound idea<\/strong>: investors value the business idea and scope for the idea.<\/li>\n
- Quality management team:\u00a0<\/strong>Investors value the execution of the management and their strategic plans.<\/li>\n
- Prototype:<\/strong>\u00a0Valuation of the products and their business model.<\/li>\n
- Strategic relationship:<\/strong>\u00a0Valuation of the partnerships of the company and the relations with customers and suppliers of the company.<\/li>\n
- Product rollout or sales:<\/strong>\u00a0It is an\u00a0assessment of a startup\u2019s capacity to market and sell its product.<\/li>\n<\/ul>\n
After adding all the Values from all five areas. The pre-money valuation derives. There are five areas, With a maximum range of USD 0 to USD 500,000. which laid the theoretical maximum pre-money valuation to USD 2.5 million. The Berkus Method is a simple model that is primarily dependent on qualitative factors. As a result, it is a traditional method of valuing pre-revenue firms. The method generates an approximate valuation estimate.<\/p>\n \n- Cost-to-Duplicate<\/u><\/strong><\/li>\n<\/ul>\n
Investors use this valuation\u00a0strategy to estimate how much it will cost to start a similar firm from scratch<\/em><\/strong>. As a result, investors will focus on the significant costs of startup-like research expenses, Loan fees, licensing permit fees, technology charges, equipment and supplies, and then advertising and marketing costs. If the cost of replicating the startup is low, the startup\u2019s value will be low. If it is expensive and difficult\u00a0to duplicate, then the valuation will be higher. The main disadvantage of this technique is that it does not reflect the intangible value of the company or its future potential. The company\u2019s growth, as well as characteristics such as its client retention power.<\/p>\n\n- Comparable Transaction Method\/ Market Multiple<\/u><\/strong><\/li>\n<\/ul>\n
The valuation occurs in\u00a0this technique based on actual market prices and transactions that occurred at companies of a similar size, revenue range, industry, and business model to see what they were valued at or sold for<\/em><\/strong>. Indicators for comparison could be monthly recurring revenue, weekly active users, profit & loss, sales, gross margin, EBITDA, and so on. However, that comparable comparison is difficult to discover in the startup market. This strategy may be most effective when comparing two startups that produce similar products or provide equivalent services.<\/p>\n\n\n\nFigure 2: The Comparable Transaction Model<\/strong><\/td>\n<\/tr>\n\n\n\n\n\nUSD (In \u2018000)<\/strong><\/td>\nYOUR BUSINESS<\/strong><\/td>\nCOMPARABLE PUBLIC COMPANIES<\/strong><\/td>\n<\/tr>\n\nEnterprise Value<\/strong><\/td>\nUSD 50,050<\/td>\n | USD 60,000<\/td>\n | USD 1,32,000<\/td>\n | USD 81,000<\/td>\n<\/tr>\n | \nEBITDA<\/strong><\/td>\nUSD 6,500<\/td>\n | USD 7,500<\/td>\n | USD 11,000<\/td>\n | USD 9,000<\/td>\n<\/tr>\n | \nEV\/EBITDA<\/strong><\/td>\n7.7 x<\/td>\n | 8.0 x<\/td>\n | 12.0 x<\/td>\n | 9.0 x<\/td>\n<\/tr>\n | \n<\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \nGuideline Public Company Method Valuation Range: USD 45 Million to USD 55 Million<\/strong><\/td>\n<\/tr>\n\n<\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n | \n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n The rule of three is used in this approach. It is successful to retrieve a reliable indicator for comparison in order to determine the startup value. This may include recurring monthly revenue, weekly active users, sales, gross margin, EBITDA, and so on. The problem is that it\u2019s challenging to locate exact equivalents in the startup market.<\/em><\/p>\n\n- Discounted Cash Flow<\/u><\/strong><\/li>\n<\/ul>\n
DCF method is based on future performance. It estimates how much cash flow a startup can bring out & discounting them at a certain rate of investment or the \u201cdiscount rate.\u201d\u00a0<\/em><\/strong>The higher the discount rate, the more risky the investment will be.<\/em><\/p>\nWe can\u2019t use the DCF method in startups with negative earnings. because it is hard to predict the future cash inflows. In short, we can say DCF analysis aims to determine the current value of an investment based on projected returns.<\/p>\n \n- Calculation of the DCF Value:<\/strong><\/li>\n<\/ul>\n
Here, CF= Cash Flow, DCF= Discounted Cash Flow & r= Discount rate.<\/p>\n \u00a0<\/strong><\/p>\n\n- Valuation based on EBITDA Multiple<\/u><\/strong><\/li>\n<\/ul>\n
EBITDA: earnings before interest, tax, depreciation, and amortization.<\/p>\n The\u00a0major factor evaluated by investors is that a firm should present a simple, measurable indication of the profitability of an investment, EBITDA paints an accurate picture of the company\u2019s status. The formula for enterprise value is EBITDA into EBITDA multiple.<\/p>\n \n- Investors use the following formula for startup valuation using EBTIDA:<\/strong><\/li>\n
- Venture Capital Method<\/u><\/strong><\/li>\n<\/ul>\n
The technique starts with estimated future revenue and represents the investor\u2019s expectation of a corporate exit in a few years. It computes pre-money valuation by first calculating post-money valuation. The Venture Capital approach is frequently employed in valuations of pre-revenue enterprises where estimating a possible exit value is easier.<\/p>\n The method has several pre-money valuation formulae.<\/strong><\/p>\n\n- Calculating the Terminal Value:\u00a0<\/strong>Terminal Value is the estimation value of the startup on a specific future date. The formula has the following three requirements:<\/li>\n
- Calculating Pre-Money Valuation: For,\u00a0<\/strong>Pre-money valuation we require two things- Desired Return on Investment by Investors and the Amount of Investment.<\/li>\n<\/ul>\n
Here, Terminal Value is the origination\u2019s estimated value on a certain future date. The return on investment can be assessed by assessing what return an investor could expect from that investment given the level of risk.<\/p>\n \u00a0<\/strong><\/p>\n\n- Risk Factor Summation Method<\/u><\/strong><\/li>\n<\/ul>\n
This method is ideal for early-stage startups looking to establish pre-money valuation.<\/em><\/strong><\/p>\nThe Risk factor summation method assigns a value to the company based on the starting point of a similar startup. This baseline value is then adjusted for common startup risk variables ranging from extremely low to very high. Lower risks improve your company\u2019s valuation, whereas bigger risks diminish it. One might try to focus on the risks and establish plans to cover or lessen them to increase the valuation.<\/p>\n These are 12 standard risk factors under this method:<\/p>\n \n\n\nFigure 3: Risk Factor Summation Model<\/strong><\/td>\n<\/tr>\n\n\n\n\n\nSR. NO.<\/strong><\/td>\nINITIAL VALUE<\/strong><\/td>\nUSD3,000,000<\/strong><\/td>\n<\/tr>\n\nRisk Factors<\/strong><\/td>\nLevel Of Risks<\/strong><\/td>\nRisk Value<\/strong><\/td>\n<\/td>\n<\/tr>\n | \n1<\/strong><\/td>\nManagement Risk<\/td>\n | Very Low<\/td>\n | (+) 5,00,000<\/td>\n | 3,500,000<\/td>\n<\/tr>\n | \n2<\/strong><\/td>\nStage of Business<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n3<\/strong><\/td>\nLegislation\/ Political Risk<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n4<\/strong><\/td>\nManufacturing Risk<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n5<\/strong><\/td>\nSales & Manufacturing Risk<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n6<\/strong><\/td>\nFunding\/ Capital Raising Risk<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n7<\/strong><\/td>\nCompetition Risk<\/td>\n | Very High<\/td>\n | (-) 5,00,000<\/td>\n | 3,000,000<\/td>\n<\/tr>\n | \n8<\/strong><\/td>\nTechnology Risk<\/td>\n | Low<\/td>\n | (+) 2,50,000<\/td>\n | 3,250,000<\/td>\n<\/tr>\n | \n9<\/strong><\/td>\nLitigation Risk<\/td>\n | Very Low<\/td>\n | (+) 5,00,000<\/td>\n | 3,750,000<\/td>\n<\/tr>\n | \n10<\/strong><\/td>\nInternational Risk<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n11<\/strong><\/td>\nReputation Risk<\/td>\n | Very Low<\/td>\n | (+) 5,00,000<\/td>\n | 4,250,000<\/td>\n<\/tr>\n | \n12<\/strong><\/td>\nPotential Lucrative Exit Risk<\/td>\n | Normal<\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n | \n<\/td>\n | TOTAL VALUATION<\/strong><\/td>\nUSD 4,250,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n | \n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n- Book Value Valuation Method<\/u><\/strong><\/li>\n<\/ul>\n
Book value valuation is a simple startup valuation technique because it is derived by subtracting the value of intangible assets and liabilities out of the\u00a0total value of tangible assets. This method is often not adapted for startup valuation because it considers only tangible assets, while startups are more concerned with intangibles such as patents, copyrights, and so on.<\/p>\n Book Value = Total Assets \u2013 Total liabilities<\/p>\n Conclusion<\/strong>:<\/p>\nAt the seed stage, there is no single way of calculating startup valuation. Every company or industry in which the startup operates is distinct and has its own set of requirements. Thus, a combination of various methods is the most favorable choice.<\/em><\/strong><\/p>\nFinally, the value of the startup is what investors are willing to invest in. Before investing, investors investigate market dynamics, comparable deals, and recent exits.<\/em><\/strong><\/p>\n[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"[vc_row type=”full_width_background” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” advanced_gradient_angle=”0″ overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self”…<\/p>\n","protected":false},"author":3,"featured_media":6448,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[23],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/mekyal.com\/en\/wp-content\/uploads\/2022\/08\/Screenshot-2022-07-25-141201-Recovered-1.png?fit=642%2C395&ssl=1","_links":{"self":[{"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/posts\/6445"}],"collection":[{"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/comments?post=6445"}],"version-history":[{"count":5,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/posts\/6445\/revisions"}],"predecessor-version":[{"id":6977,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/posts\/6445\/revisions\/6977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/media\/6448"}],"wp:attachment":[{"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/media?parent=6445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/categories?post=6445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mekyal.com\/en\/wp-json\/wp\/v2\/tags?post=6445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |