Hey everyone,
My view of how VPC
could get to $1bn valuation in 5 years, with following comments:
- growth tapered (can't keep up 15-20% pm as market saturates)
- capped margins @ 25% and stepped-up to recognise higher relative cost of development in earlier years
- MC multiples ignore mid-term hype / early factoring of future performance and are supposed to represent those of a maturing business with plenty of future opportunities
In many way its conservative but in a few key ones its a massive stretch - DYOR as always.
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