Case studies, frameworks, and breakdowns of liquidity events, acquisitions, and IPOs.
We shipped 8 new VentureCalculator models in one release: Waterfall, SAFE Stacking, Dilution Simulator, Pro-Rata, Runway, Tax Impact, Secondaries, and 409A/FMV.
Read more →Answers question such as “when does the preferred convert?” or “what do my options actually net after dilution?”
Read more →Valuing a pre-revenue startup with a working product is less about spreadsheets and more about structured judgment. A robust approach triangulates three pillars: (1) Replacement Cost New — estimating what it would cost a strong team to rebuild the product and applying a premium for time-to-market and execution risk; (2) Strategic Revenue Synergies — modeling how a buyer could sell the product into their existing customer base, discounting those cash flows, and sharing a portion of that value with the seller; and (3) Market Comparables — checking where similar early-stage companies are being valued. Together, these inputs give founders and buyers a defensible valuation range and a clear narrative for “why this price, why now.”
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