Sure. Although we have a rather nonstandard business area (not the usual ecommerce/saas/social/gaming stuff) and have no direct competitors, we could get a goo

Sure. Although we have a rather nonstandard business area (not the usual ecommerce/saas/social/gaming stuff) and have no direct competitors, we could get a good grip at it by going down several routes: talking to industry experts, comparing indirect competitors' valuations and also by extrapolating from usual relevant business metrics such as current and projected revenue, traffic, margins, growth rates, and market size. We also talked to quite some VCs who confirmed our range to be pretty spot on in initial negotiations.