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Monday, May 21, 2012 8:39:40 PM
That does not mean the trailing bid was either sufficiently high or sufficiently low to reflect a proper valuation.
Frankly there is just too much disparity between the value of a JB-run pinkie with a dream and the discounted future value (DFV) of a properly executed company with moderate chance of survival. All we know is the desparate pinkie is valued at much less than $0.80 and the successful outcome has a DFV is more than a multiple of that.
However, any VC I ever talked to expected 10X in 5 years, so at least a $8 target. They also expected to succeed at 20% of them, lose 60-70% outright, and painfully tend to the remaining "walking wounded". That all said, I'd hate to be here another 5 years... jeesh.
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