Your startup is worth whatever it is worth to the buyer.  This is a serious statement.<p>Unlike S&amp;P stocks, a small startup does not have many buyers looking into your valuation.  What one buyer is willing to pay will vary widely from another.<p>A prospective buyer will consider things besides your revenue history.  Such as operation risk, potential synergy, possible changes for growth, if you are a competitor, etc.  Then there is their own financial situation, and the form you are willing to take payment (like stock vs. cash).<p>As a poor example, if I were to buy your site, I&#x27;d take your profit and discount taxes I would owe plus some salary for my time to upkeep it (another buyer could be more or less depending on their resources).  So the profit would be down to say 80k.<p>From there, I note that there virtually is no growth in revenue despite the growth in pageviews.  Assuming no way to fix the CPM, my worry would be whether I could get my money back, especially if there could be a real estate peak.<p>So average Joe like me might be willing to pay a paltry 1-3x multiple of profit* (and mostly because I don&#x27;t have much money to risk).  A collector of web businesses might go up to 5x, as a guess, more if there is growth.<p>The best companies in the world (like S&amp;P companies) fetch anywhere between 10x to 20x+ so it&#x27;s highly unlikely you get that without exploding growth.<p>* By profit I mean after taxes and the acquirer&#x27;s expenses.