How do I value a small startup with almost no revenue?

Angels ask for valuation. We are pre-revenue. Is there a sane method or is it pure negotiation?

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Ahmed Kabeer 2 months ago

Pre-revenue valuation is mostly negotiation anchored by dilution comfort, comps, and team/market quality — not a precise formula.

Practical approach: decide max dilution you accept for the capital you need (often 10–20% at angel), reverse into a post-money, and defend with milestones. Avoid fake Excel precision.

If terms feel predatory, walk — bad equity is expensive forever.

Related: pre revenue startup valuation, angel valuation method Pakistan

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