Cool analysis. It is always incredibly hard to put a value on something. The value is really what someone is willing to pay for it. Obviously, it is in their interests to go for as high of valuation as possible.

If they are pulling 4K a month and lets say that is a peak month for them and their growth is slowing. Then they might only be pulling 48K a year. When I sold a site in the past I got 2 1/2 times yearly revenue for it. Which would only give 125K valuation.

It is kind of amazing how just looking at a couple different numbers we have valuation ranges from $38,000 - $500,000

Kiko wasn't valued on users or anything, but on development time costs. What it would take to implement the same solution in house, which is another interesting way to look at it. I would love to see a write up about how happy they are with that purchase now that have been using it awhile.

Either way it should be fun to follow and see how this works out for them...