Blake Ross of Firefox recently had a great post about how the current crop of companies have started getting used to high valuations (legit or not) and only talk of millions and nothing less.
Read it here and enjoy. It just shows that we are dangerously close to repeating history from 5 years back. I hope it does not come down to it, but a portal snagging 15 mill???? I don’t know how that can be justified. How much money will they have to make to give their investors a good return on the 15M?? The only way a portal can justify it is perhaps having insider information about someone like Google gobbling them up in some time for multiples of that number.
Otherwise, how could anyone justify such a huge need for capital???