The multiples we discuss are related to SaaS businesses below $5m valuation. Fortune 500 companies are indeed valued differently, usually on a multiple of EBITDA or similar.<p>10x is very high. Sure, there will be a few deals at that level, but the majority are not. Our data is based on over 50 SaaS sales below $5m we have completed so is not just made up or an &quot;estimation&quot;. It&#x27;s where 90% of SaaS businesses will fall if you want a high degree of certainty when selling.<p>There are lots of reasons people sell businesses instead of hiring someone to run them:<p>- to reinvest into other growing businesses<p>- they are no longer interested in the business (it&#x27;s not always about money)<p>- the business is a mental distraction. Sure, you can hire someone but you still have to think about that business<p>- to benefit from a lump sum of cash now vs waiting 3&#x2F;4 years, usually at a lower tax rate (capital gains vs income tax).