How Should You Value A Startup Without Revenue? 

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The moment you said if this content is resonating with you please like the like button now I did😊, and I rarely hit the button. I didn't because you didn't start by asking it, you did after you felt you have shared something valuable with your audience who are likely founders. That was brilliant!

ALL evaluation methods in comparison are valuable knowledge for inexperienced startupers 💯 Thank you for the video

Never thought about it this way, makes it much easier to reason about these things.

You're just so amazing with your points

Thanks Brett. I have learned a lot from you already from just 3 videos I watched. These are gems probably no one else shared so precisely. Please keep these tutorials for startups coming. 🙏

Very helpful indeed :) thank you Brett!

Great straight forward video. I’m saving this!

Very helpful video, thank you sir!

beautifully said and explained in a very simple way.......thanks

Great video thanks for sharing

Great video. I just followed you on Twitter. This is what I tell my investors. I did a raise for just enough to have our working product. Meeting with big companies now. I took a little hit on the valuation at first but got 8 investors who are all entrepreneurs and CEOs themselves which bring extra advisory value.

Hey Brett, thanks for this really interesting content. Simple, honest and straight to the point on subjects that are quite complex but crucial to understand.

Thank you Brett. I'm amazed by how you remember the details of conversations you had decades ago. You are a great storyteller.

Thank you so much. It’s very helpful

7:00 thanks

How can you evaluate, for example, a social network at the PreSeed, Seed, Round A: 1 - The founder should take as a basis the valuation of other social networks at the same rounds (What if these rounds were 10-20 years ago, now the operating costs are different) or the current valuation? 2 - Is it possible to evaluate a social network by comparing it with messengers, dating apps... - where the company’s evaluation depends on the number of active users

fund raising is hard. put yourself in the shoes of your investors.

Good walk-through.

Great video

Thank you.

Brett, your insights were incredibly enlightening and made the concept of valuation much clearer for a company without revenue. I do wonder, however, if it's essential to include a valuation in our deck for our initial round of funding, considering our revenue status.

Good content

I learned not to be precise about the cost of starting up a business to investors. Also be open ended about profit when asked because as years or the business stands, it might grow or decrease each year in profit.

Hi Brett! Invaluable info that's well delivered. Carl

Thank you....

I'm looking to invest in a Saas company. They have 11k revenue, 400 customers 200k gmv. No profit. They expect to make 1M+ starting next year. With 1.5M revenue projection by Y3. What do you think they're worth? They want 100K for 10%.

Awesome info, love it, thanks! Do you offer free 1st consultations?

Thank you again for sharing your knowledge! If we have several potential investors, how to properly convey the information that they are not the only willing investors and "encourage" negotiations? I guess we're not inviting everyone to the same negotiating table "who gives more" - or maybe I'm wrong? Best regards! Kuba

Thank you for a relavant discussion. I was not thinking in those terms before... Can I ask how much if any weight angel investors place on the business model in terms of feasible achievability & scalability to decide whether to invest or not? Secondly what do you think if there is not an amazing team on paper in place but the model is very achievable & the raise pays for effective management?

I find your videos interesting, and valuable and I'm going through all of them. I do have a question, though. Sure, "let the market decide", meaning, you throw the question back at the person who asked it. But on what basis do they decide? And if they offer a figure, how are you to know whether they are arriving at a reasonable valuation?

This has to be the best video explanation of pre-revenue valuation. One question: can we understand the rationale with examples for varying ownership targets across different rounds? Why 20% ownership (lower than before) at series A, but 10 percent at seed? Also, why are expected returns changing / fzllinc at later rounds?

I learned " keep my mouth closed and just keep it simple"

Can we please have a detailed video on valuation through comparables (local and international start-ups) with cases, please?

Thanks for this interesting content, I’m from nigeria building a startup for 2years now, how can I get potential investors, have been looking for but not seen any, please kindly connect me with potential investors 🙏

So, the best way to valuation the startup is looking for similar businesses and see how their valuation now, am i right? Or missing something in between 😢

What if my startup has revenue but there isn’t a comparable product out there. How do I value my Startup in my case?

5:30 comparable transaction methodology

What's the highest pre-seed or seed valuation have you ever seen with zero revenue?

How can our team get in touch with you?

Anybody want to guess a valuation for 11-month startup Convochat?

Whoever speaks first loses

True story, haha

Hi Brett, very nice video. It helped me a lot. Also, I am not sure if I need any help right away but if I need in the future I may contact you. Do you mind sharing the price of your consulting fee.

I haven't clicked the subscribe button, even though I've been getting a benefit from every video of yours I've seen. My business might not work if the wrong investors get in. It is religiously motivated and doesn't seek to maximise profit. It exists to maximise certain social benefits and profit along the way. The religion says that if I do this I will get supported by God rather than by money and will not have to harm the world to get the money. It seems that it requires ideological alignment from social engineer investors who will stick around and be willing to help out with prayers more than profit-seeking capitalists. The business leverages natural capital like the rain and the crumbling of certain myths prevalent in the bread industry. So I see your approach as overmaterialised. I only watch it so I what not to do. I worked in a top investment bank before becoming a scientist and then a farmer. I hope you do some research into Islamic financing and make a video on what you find, God willing. Thank you very much for your work. It contains a very easy to understand flow and it opens up to give us exposure to your experience, which is generous. I kniw that editing and planning a video takes a lot of time so thank you for all your work. Please contact me at abdullahreed@gmail.com if you want to be correspond. I can help you transform your work into ethical financial investment designs that do not force developers to overmaterialise their entrepreneurial drive. On this note: do you have a video on investors who accept profit & loss outcomes vs. investors who expect profit but no loss?

Good content