> A 1 billion $ valuation for a company that made 18 mil in sales? That was 18M Euro (around $20M) and in a quarter. If that revenue was all recurring, that im

> A 1 billion $ valuation for a company that made 18 mil in sales? That was 18M Euro (around $20M) and in a quarter. If that revenue was all recurring, that implies an $80M/yr run rate, or a 12.5x multiple on revenue to get to a billion dollar valuation. That's only 5x the current S&P500 price-to-sales ratio (and I'd surely expect startups with any sales traction to have a much higher ratio than US large caps, due to the much higher potential for growth). It doesn't seem that crazy to me, which might mean that I'm the crazy one.