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Ahhh....good point. That does change the formula a bit, but even still...what's the likely 1 year return on pre-IPO FB stock? 3X if so much? I doubt it.

Anyway, it's better than 2X, so I guess they can't be pissed.



But, quite possibly, it could be .5X, or .25X... Current FB valuation is somewhere around 25X revenue ...


P/E is around 100.


Honestly, in the tech industry, a 25 P/E ratio is yawned at.




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