RE:RE:RE:RE:RE:SupportA quick google search will show some of the CDN tech IPO's to give an idea on current valuations.
Dialogue Health Technologies had 2020 Revenue of $35.8mm and 2021 annualized rev of ~$60mm (est). Their market cap is $1.3B giving them a 36x 2020 revenue multiple or 21x 2021 revenue multiple.
Vendasta just went public with a valuation of $700mm. Their 2020 revenue was $42.6mm which is a 16x multiple.
Mind Beacon just went public with a market cap of $216mm and 2020 revenue of $10mm which gives it a multiple of 21x revenue/sales.
There is a pile of others as well... Venzee's number one competitor is Salsify and I believe they are contemplating an IPO...
We'll have more clarity on Venz's 2020 revenue in a couple weeks but more importantly an idea of what 2021 revenue will look like. 9x current revenue for Venz isn't right, although I'm also not saying 30x is right either. I'd give it 20x multiple for sure though, especially considering the growth profile and how early we are in the growth of this company.
For perspective, say for the year 2021 Venz has about 1,500 connections (target is for 2,080). That would equate to 1,500*250*12*1.25=$5.6mm CDN for the year. Applying the multiple of 20x gives a valuation of $112MM. Obviously more connections is the key. It will be very interesting to see the year end numbers and how many connections are in place. If we can sail through the 2,080 connections this company should really take off.
In any case, 9x multiple is too light. Way too light. Just my two cents.
Also, I'm not trying to necessarily pump the stock but if we aren't trying to pump it then what's the point of all this? If you don't see upside then why are you invested?