In one of my recent interviews, the MD asked me "how would you do the valuation and modeling of a company/start-up where there are no reports, study, comparables or transactions? - it's a new space/area identified altogether. The entrepreneur will say many things, but being a banker, how would you approach to value the company? Assume the start-up has zero revenue"
How and where do we start? I mean no historicals, no comparables/transactions, no research reports, no size of the addressable market, ...
