Why Financial Statements Don’t Work for Digital Companies
Harvard Business Review
FEBRUARY 26, 2018
Twitter reported a loss of $79 million before its IPO, yet it commanded a valuation of $24 billion on its IPO date in 2013. Contrast Walmart’ $160 billion of hard assets for its $300 billion valuation against Facebook’s $9 billion dollars of hard assets for its $500 billion valuation.
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