Their average MRR per customer is four or five digits (see slide eight), and they have 2,814 paying customers according to their homepage, so their MRR is at least ~three million, which puts their ARR at at least 36 million. This implies a multiple of 25 at most. (I think 20 is a common multiple for SaaS companies at this stage.)
https://mixpanel.com/pricing/
I wonder how much of their MRR X 12 months is multiplied by to reach $865M valuation.
I can't fathom what the ?? will be, it would have to be significantly crazy. It isn't 1000.Is it 100 ($8.6m ARR) ? Is it 50 ($17.2m ARR) ? Is it 25 ($34.4m ARR) ?
What is the average valuation multiple for SaaS? Is it higher or lower than other Startup models (consumer, yearly subscription)?
If one was to replicate a similar valuation with their SaaS what would it take?