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Understanding Internet Valuations: An E-Business Imperative
The Journal of Private Equity
Vol. 4, No. 1 (Winter 2000), pp. 31-38
Published by: Euromoney Institutional Investor PLC
Stable URL: http://www.jstor.org/stable/43503250
Page Count: 8
You can always find the topics here!Topics: Search engines, Consumer goods industries, Revenue, Business models, Valuation, Financial investments, Cash flow, Investors, Stock prices, Internet
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With E-businesses evolving at a lightning pace, fads fading in and out of favor, and corporate valuations rising and falling sometimes on as little as a whispered rumor, how is an investor to determine the real, underlying value of an internet company? Steven Rosner suggests that by discounting expected cash flows, one can achieve a more realistic portrait of current valuation — but one which may be vastly different from that painted by Wall Street. Three benchmark firms with different business models and strategies are considered, and from their lessons one may be able to fine-tune conclusions about internet valuations.
The Journal of Private Equity © 2000 Euromoney Institutional Investor PLC