Editor’s Note: Max Wolff is an economist and investment strategist who is the managing partner and chief economist at Manhattan Venture Partners Wolff previously served as the Chief Economist at Citizen VC, Inc., a financial technology and investment firm.
Private company valuation is as much art as science, and sometimes as much alchemy as chemistry. Among the few reliable and well-worn guidelines to follow are public companies and recent M&A multiples.
This is why we spend so much time refining, tracking and parsing the multiples we use. Oddly, we have observed a strange lag in the re-evaluation of comparable pricing and an over-correction between public company multiples and the private company valuations of the leading later-stage companies.
The swollen ranks of the unicorn club
Private company valuation is as much art as science, and sometimes as much alchemy as chemistry. Among the few reliable and well-worn guidelines to follow are public companies and recent M&A multiples.
This is why we spend so much time refining, tracking and parsing the multiples we use. Oddly, we have observed a strange lag in the re-evaluation of comparable pricing and an over-correction between public company multiples and the private company valuations of the leading later-stage companies.
The swollen ranks of the unicorn club
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