How to value a startup?
I am currently in corporate acquisitions for a summer internship, how would you guys value a startup acquisition ?
I see that most of the times it's about Sales multiples for the company itself, for comparables and transactions too. Since DCF doesn't make much sense (usually startups are private so it's tough to get data except for general revenues and normally CashFlow is always negative for a startup)
Are there other multiples or more complex ratios ?