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If you want that 3-5x multiplier your growth rate better be at least 70% YoY and stable. If, however, on the way to $1M/year in revenue your growth rates the last 4 years were 250%, 100%, 70%, and 55%, a realistic multiplier is more like 2-3x.


5x multiplier is pretty standard regardless of the growth rate. For non-software industries it applies even if the growth is flat.




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