If you look at gross profit (164.4 million for the first semester 2015) it&#x27;s a much more comparable metric to what SaaS revenue would be. The problem with overall revenue in this market it that it&#x27;s a low margin and more that half of it goes to the credit card companies.<p>With ~328 profit per year, they are getting about 8X multiple - very comparable to Hubspot, Zendesk which are doing terrific in the public markets.<p>For anyone getting stock options, expect as much as 6X-8X multiple on revenue if your gross margin is &gt;60% and your year-to-year growth is &gt;70% - the 10X-14X days are gone. Else, if year to year growth is below 70%, or  gross margin less that 55%, expect 2X-4X.