I don&#x27;t quite grok the 4x either... Let&#x27;s say you have a well established (5yr), steady growing (20 - 30% YoY), low churn (5% annual) SaaS with significant custom engineering in the back-end (hard to replicate) currently at $1.5m of revenue. Two co-founders earning $140k each, and $250k EBITDA...<p>I&#x27;m not sure you can add back the full $280k to get $530k SDE, but even still why would you sell something like that for $2m? P&#x2F;E of 8? 1x forward revenue? Is that really the benchmark?