It's not the final valuation though, there are other factors. Time value of money, dilution through failed attempts to raise more money, etc. From OP's perspec

It's not the final valuation though, there are other factors. Time value of money, dilution through failed attempts to raise more money, etc. From OP's perspective, he could go to Japan with his wife now, or maybe get his money back years from now. I know many people who have bought stock at companies valued higher than $100M, only to either lose their money or make 0% return during the recent S&P500 boom. Complete waste of time.