Well, the profit could be $1 if you're "profitable" which would warrant a bad valuation (like if you just resell SMSes with no value add at all). But another co

Well, the profit could be $1 if you're "profitable" which would warrant a bad valuation (like if you just resell SMSes with no value add at all). But another commentor quoted an 18% margin so if that's true it seems weird. Why raise $200M by equity if you make around $150M in profit. It can't be the whole story..