Tech Valuation

I was wondering if someone could discuss tech valuation multiples (specifically for internet, software and semiconductor companies). My understanding is that internet companies that are pre EBITDA are going to use funky valuation methods like number of unique users, software companies typically have higher FCF (not sure why) so they're valued as a multiple of FCF but you wouldn't want to use revenue multiples because they deal with a lot more recurring revenue and as a result recognize revenue atdifferent times and lastly semiconductor companies are typically more stable so you'd use P/E, EBITDA multiples or even P/BV. Does any of this make sense?

 

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