When these companies were at a similar life stage, (ie going from ~$100M to ~$300M in revenue) they had very different private market valuations.

Snapchat = $16B
Facebook = $10B
Twitter = $8B

The question for me is whether one is over-valued or were the other two under-valued?

Here are some tweets below with links to the data.

at $16B valuation = 53x revenue multiple https://t.co/VnS8N4qESh

— Shai Goldman (@shaig) March 7, 2016

at the similar life stage , $twtr was valued at $8B

— Shai Goldman (@shaig) March 7, 2016

$TWTR was able to go from $106M (’11) to $316M (’12) in revenue in one year, Snapchat can do the same https://t.co/J5Bd0BV2t2

— Shai Goldman (@shaig) March 7, 2016

In comparison , $FB grew revenue from $153 (’07) to $272 (’08) https://t.co/4E7kDgzUlr

— Shai Goldman (@shaig) March 8, 2016

$FB raised in ’09 at $10B Pre https://t.co/MIbhQRMkmv

— Shai Goldman (@shaig) March 8, 2016