Shak - 2:58 pm on Jan 17, 2007 (gmt 0)

I think just applying that number alone isn't the key.

Tradedoubler's hidden gem is the Media Agency all in one tracking tool, so apart from affiiates/merchants, they have something very very valuable to go with it.

Add to that a very strong management team,key clients with rock solid contracts tied in for a few years.

So personally speaking I'll stick to real world multiples for valuing our business, as currently we are a bit short on 1 or 2 of the above, but that's something being worked on.

That's my 2cents worth.

Shak