[sgerenser]

I can't actually find anything that supports a $400M valuation. ChatGPT seems to agree, that there's no public documents supporting that valuation, and an estimate of $6-$10M year in revenue sounds in the ballpark, meaning a value nowhere near $400M. But something as high as $100M is probably appropriate if their profit margins are high, which would be expected for a franchisor.

[prepend]

I’m guessing the valuation is just youtube bs/hype.

10-15x earnings seems pretty massive. But perhaps there is more money in the used lego market than I thought.