Whatever estimate you come up with, will be BS, and if investors know their way around, they'll know this. This is true not only for your user base, but your sa

Whatever estimate you come up with, will be BS, and if investors know their way around, they'll know this. This is true not only for your user base, but your sales and revenue projections as well. Probably the most accurate number you can get are expenses, and even that won't be very good. But all of the above doesn't mean you shouldn't do your homework. So you still have to do some research, learn how other startups grew, estimate your market and market penetration in time. What investors really care about is the reasoning behind estimating those numbers, rather than the numbers themselves. Here's a good series of posts with useful tips for pitching a VC: - http://bothsidesofthetable.com/pitching-a-vc/ http://bothsidesofthetable.com/pitching-a-vc/ Good luck!