[ThomasSmale]

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.

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 "estimation". It's where 90% of SaaS businesses will fall if you want a high degree of certainty when selling.

There are lots of reasons people sell businesses instead of hiring someone to run them:

- to reinvest into other growing businesses

- they are no longer interested in the business (it's not always about money)

- the business is a mental distraction. Sure, you can hire someone but you still have to think about that business

- to benefit from a lump sum of cash now vs waiting 3/4 years, usually at a lower tax rate (capital gains vs income tax).