Ann: Big to Acquire US Hospitality Platform Tipsly, page-133

Yes I agree 100%.

It's almost impossible to actually value BIG at the moment.

My point was just highlighting how undervalued the company still is, because even with VERY conservative figures AND some wiggle room for things not going as well as expected, they could still be valued above $1bn by end FY19.

Factor in Apple, Uber, massive growth in USA, becoming ASX 200 etc, and you can make a good case for valuations $5bn+. It's so hard to value those though until we start seeing a few more quarters of reporting. This time next year we'll start to have a much better idea on what pillar 2 and 3 revenues might look like and how quickly they are growing.