Valuation Beyond the Balance Sheet
In February 2014, the tech world paused. Facebook announced it would acquire WhatsApp for $21.8 billion —a figure that stunned many, given WhatsApp’s absence of advertising, and reported just $10 million in revenue against a $139 million loss the previous year. But that deal wasn’t about what showed up on the balance sheet; it was about what lay beneath. Traditional valuation methods (multiples, DCF, discount rates) are critical tools—but they tell only part of the story. True valuation,...
Read article →