I know of a project that did have decent monetization and was impressive technically that only went for mid 6 figures. However the owner wanted to sell quickly so that might have depressed the price a little bit.
And this is exactly why he didn't come out and say a number. X could be anything. Someone else in the comments was speculating 10 to 14. But it could just as easily be like 1.2 or something.
Probably my comment, but I wasn't speculating... my understanding of a normal tech acquisition formula, but I specifically acknowledge this one was likely different because it was < 6 months old and no prior funding/investments.
"Engineering Salary" $150k / 2 = $75k. "Multiplied by X" Let X be between 1.5 and 2. So $75k * (1.5-2) = $112.5k-$150k