Wha­te­ver both par­ties accept is OK, the­re is no book value. As to us, we com­pa­re the sug­ges­ted valua­tion pri­ma­ri­ly against what has been achie­ved to date, secon­da­ri­ly to what the plan is “pro­mi­sing”. The hig­her the price tag, the more you are expec­ted to have alrea­dy, and the more is expec­ted from you going forward. And whi­le the­re is no “List” price, pro­fes­sio­nal inves­tors know what kind of com­pa­nies have been able to clo­se rounds at what valua­tions, which gives a com­pa­rable. Worth noting is that any foun­der with expe­rience in fun­drai­sing will tell you that more impor­tant than the valua­tion, or even the amount rai­sed, is that the process is quick and smooth, allowing you to get back to doing busi­ness as soon as pos­sible. If you try somet­hing that is unrea­lis­tic, you will learn the hard way the wis­dom behind that.