1. Valoración de start-ups, ¿qué enfoque adoptar?
- Author
-
Saura, Eduard, Etzi, Riccardo, and Pehuet, Chloé
- Subjects
- *
NEW business enterprises , *VALUATION , *PROBABILITY theory - Abstract
The article addresses the limitations of traditional valuation methods when applied to emerging companies (start)ups) due to the uncertainty associated with these types of businesses. Despite previous attempts with alternative methods, a consensus framework for start-up valuation has not been established. The article reviews the advantages and limitations of alternative methods and subsequently proposes a methodological approach based on the long-term survival probability of start-ups. This methodology suggests adjusting the calculated value using traditional methods, such as Discounted Cash Flow (DCF), by applying a probability of success determined by the start-up’s potential to secure funding, adjusted for specific risks of the company. The focus is on the “probability of success” to achieve a valuation tailored to the unique characteristics of each start-up, with the aim of facilitating investment decision-making. [ABSTRACT FROM AUTHOR]
- Published
- 2023