Valuation Technique

1 DCF Discounted Cash Flow

2 10x Revenue
3 10x Net Profit
4 4x EBITDA
Revenue &
5 Growth Growth 30-50% --> 6-12x. Growth 10% --> 1-2x
Scorecard
6 Berkus Method
Valuation
7 Method
Venture
ValuationCapital
by
8 Method
Multiples
9 Method 5-15x EBITDA

VALUATION PRE-SHARE PRE-MONEY Investment POST-MONEY Share

95% 190,000 10,000 200,000 5%
95% 190,000 10,000 200,000 5%
95% 190,000 10,000 200,000 5%
 VALUATION
Code Case _x0008_NegotiPRE-SHARE PRE-MONEY
Thương vụ 1: Minigame 1 92% 23,000,000,000
Thương vụ 2 & 3: 2 49% 1,921,568,627
BluSaigon & thương vụ ý
tế tái sinh (có phần tương 3 64% 3,555,555,556
tự) 1 70% 46,666,666,667
2 50% 20,000,000,000
3 60% 30,000,000,000
4 65% 37,142,857,143
5 62% 32,631,578,947
Thương vụ 4: Sách nói 1 98% 9,750,000
Thương vụ 5: Woay 1 99% 44,550,000,000
2 75% 3,000,000,000
3 90% 9,000,000,000

Thương vụ 6: Bàn tay 4 80% 4,000,000,000

robot 1 95% 95,000,000,000
2 75% 15,000,000,000
3 85% 28,333,333,333
Thương vụ 7: Bạt bảo vệ xe 1 90% 9,000,000,000
2 55% 1,222,222,222
3 75% 3,000,000,000

92% 23,000,000,000
95% 190,000
95% 190,000

ST4_5 SMART CALL CENTER 1 92% 23,000,000,000

2 49% 1,921,568,627
3 64% 3,555,555,556
4 80% 8,000,000,000

Doanh thu 1,600,000,000 924000000 14.4

Lợi nhuận 724,000,000 220000000 3.428571428571
45.25% 23.81% 0.685714285714

ST4_5 Petkix 1 95% 1,235,000

2 80% 400,000
3 67% 203,030
4 60% 225,000
5 80% 600,000
6 80% 480,000
ST4_5 EQUO 1 90% 1,800,000
2 55% 244,444
3 65% 371,429
4 60% 300,000

ST4_5 Dh Foods 1 97% 388,000,000,000

2 85% 68,000,000,000
3 95% 228,000,000,000
4 60% 300,000
Investment POST-MONEY Share Comments
2,000,000,000 25,000,000,000 8%
2,000,000,000 3,921,568,627 51%
2,000,000,000 5,555,555,556 36%
20,000,000,000 66,666,666,667 30%
20,000,000,000 40,000,000,000 50%
20,000,000,000 50,000,000,000 40%
20,000,000,000 57,142,857,143 35%
20,000,000,000 52,631,578,947 38%
250,000 10,000,000 2.5% USD
450,000,000 45,000,000,000 1.0%
1,000,000,000 4,000,000,000 25%
1,000,000,000 10,000,000,000 10%
1,000,000,000 5,000,000,000 20%
5,000,000,000 100,000,000,000 5.0%
5,000,000,000 20,000,000,000 25%
5,000,000,000 33,333,333,333 15% +10% fee share sau khi hoàn tất deal
1,000,000,000 10,000,000,000 10%
1,000,000,000 2,222,222,222 45%
1,000,000,000 4,000,000,000 25%

2,000,000,000 25,000,000,000 8%
10,000 200,000 8%
10,000 200,000 5%

2,000,000,000 25,000,000,000 8%
2,000,000,000 3,921,568,627 51%
2,000,000,000 5,555,555,556 36% _x0008_Quyền mua lại 16% nếu đạt KPIs
2,000,000,000 10,000,000,000 20%

14.4
6.516
1.3032

65,000 1,300,000 5% usd

100,000 500,000 20% có quyền mua discount 30% định giá công ty ở vòng sau.
100,000 303,030 33%
150,000 375,000 40%
150,000 750,000 20%
120,000 600,000 20% có quyền mua discount 30% định giá công ty ở vòng sau.
 200,000 2,000,000 10%
200,000 444,444 45%
200,000 571,429 35%
200,000 500,000 40%

12,000,000,000 400,000,000,000 3%
12,000,000,000 80,000,000,000 15%
12,000,000,000 240,000,000,000 5%
200,000 500,000 40%
fee share sau khi hoàn tất deal

8_Quyền mua lại 16% nếu đạt KPIs

yền mua discount 30% định giá công ty ở vòng sau.

yền mua discount 30% định giá công ty ở vòng sau.

Berkus Method Stage of Development
$250,000 - $500,000
Estimated Company Value
Has an exciting business idea or business plan
$500,000 - $1 million Has
Has a
a strong management
final product team inprototype
or technology place to execute on the plan
$1 million – $2 million Has strategic alliances or partners, or signs of a customer base
$2 million – $5 million
$5 million and up Has clear signs of revenue growth and obvious pathway to profitability

Berkus Method - CHECKLIST

A sound idea -- adds up to $500,000 of
value US$500,000.00
A completed prototype -- adds up to
$500,000 of value by reducing
technology
As risk
you canmanagement
see, the Berkus US$500,000.00
A quality teamMethod
-- adds up
prioritizes the reduction of risk, adding
to $500,000 of value by reducing
value for each
execution risk element a startup has US$500,000.00
Strategic relationships
that can reduce risk and--increase
add up tothe
$500,000 of value by reducing
chance that a buyer will get a good market
risk on their investment. Keep in
return US$500,000.00
Product rollout or sales -- adds up to
mind that of
$500,000 youvalue
can assign partial value.
by reducing
For example,
production risk if a startup has completed US$500,000.00
50% of the work on a prototype, you
could add $250,000 of value instead of
the full $500,000.
Accumulated % completed Value

US$500,000.00 90% US$450,000.00

US$1,000,000.00 50% US$250,000.00

US$1,500,000.00 60% US$300,000.00

US$2,000,000.00 20% US$100,000.00

US$2,500,000.00 20% US$100,000.00

US$1,200,000.00
Scorecard Valuation Method
Pre-Money Benchmarking
Strength of the management Startup
team - 0% to 500,000.00
25% 25.00% 20.00%
Size of the opportunity - 0% to 25% 25.00% 20.00%
Product/technology - 0% to 25% 25.00% 20.00%
Competitive Environment
Marketing/Sales - 0% to 10% - 0% to
Channels/Partnerships 10.00% 5.00%
10% 10.00% 5.00%
Need for Additional Investment - 0% to 5% 5.00% 5.00%
_x0008_VALUATION 100.00% 75.00%
375,000.00
Venture Capital Method

Terminal (or Harvest) Value 2,000,000

ROI 20
Post Money 100,000
Investment 50,000
Pre Money 50,000
Ngô Công Trường
truongngo@john-partners.com
Công ty CP Tư vấn và Giáo dục John&Partners
www.john-partners.com
•info@john-partners.com
•Điện thoại: ( 084) 077 5955 007

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