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At the crux of it, IPO valuation is no different than any other type of valuation - will still use DCF / comps as the main methodologies to arrive at a fully-distributed equity value. The only additional considerations are 1) an IPO discount and 2) concept of pre- and post-money. In practice, additional data points such as feedback from testing the waters will factor into how you ultimately price the book, however, that's not a "hard skill" that you can learn via modelling tutorials. 

 

It’s mostly comps. Most efforts go into peer selection and crafting/understand the equity story to emphasise one comp set more than the other. DCF can be important depending on analysts but most often public comps is key
 

then as said you need to factor in pre vs. Post money as well as IPO discount if you’re evaluating the returns of a sponsor 

 

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