You could make a case for both, but at the end of the day what YOU value the company at is going to be different to what someone else values the company at even when based on exactly the same information. So the point about which bucket the business best fits into at this early stage is a moot one in my opinion.
Business valuation is what one might call a “subjective science.”
You could make a case for both, but at the end of the day what...
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