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14min chapter
How He Buys Multi-Million Dollar Brands with Fan Bi, Founder/CEO of The Hedgehog Company
The Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing I Brands
Shifting Perspectives on Valuation for Direct-to-Consumer Brands
This chapter explores how VCs initially valued direct-to-consumer brands as software businesses, but later realized they should be valued as inventory-based businesses. It discusses the importance of considering all aspects of the business to achieve a desirable even on multiple and highlights the misconception that revenue multiples determine the success of exits. The chapter emphasizes the importance of not getting too caught up in negotiating a high valuation for a startup when considering an exit strategy.
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