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>> “Our valuation and size today are much more based on our energy and spirituality than it is on a multiple of revenue.” This is their CEO being quoted. If t
by ramzyo 9y ago
>> “Our valuation and size today are much more based on our energy and spirituality than it is on a multiple of revenue.”
This is their CEO being quoted. If this isn’t Silicon Valley pixie dust I don’t know what is.
- zaroth 9y agoFor a pre-revenue or just recent revenue product, that’s exactly what valuation is based on. In a word: team.
- ramzyo 9y agoMeh, sure, for a smaller team, but I have a hard time agreeing with this explanation when a company has a $20 billion valuation.
- andrepd 9y agoA $20,000,000,000 valuation?
- ramzyo 9y agoYes. https://www.forbes.com/sites/stevenbertoni/2017/07/10/wework-hits-20-billion-valuation-in-new-funding-round/ https://www.forbes.com/sites/stevenbertoni/2017/07/10/wework...
- briandear 9y agoHow the hell is WeWork “pre-revenue” or even “recent revenue” — they have been around since 2010. Yet the CEO is admitting that the valuation is pretty much bullshit; how can “spiritually” make a single note but of difference for how much a company is worth? Imagine if a company said they were highly valued because they were committed to prayer and going to church every Sunday.
- IncRnd 9y ago> For a pre-revenue or just recent revenue product WeWork started in 2010. If they aren't making money after 8 years, then they aren't pre-revenue at a $20,000,000,000 valuation but scammers. Every other lease company says these types of rentals are lucrative, so why aren't they for WeWork?
- Antrikshy 9y agoThis stuff is straight out of Silicon Valley.
- sp332 9y agoWhat's funny is, Adam is from New York and this reminds me more of east-coast style. East coast tech companies think west coast companies run on flower power and try to imitate their success, while west coast companies tend to really be much more numbers-driven.