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M! M! E!
Business Product Beta test! Going to Get Product Going to Promotion
Plan! develop market US! work! development market! campaign!
ment Product space! Prod. B!
Prod. A! develop Alpha Break- Expand in EU +
ment! Customers! Promotion Beta test! even ! India!
campaign!
Employees !3 !5 !8 !10 !12 !15 !20 !25
!!
Revenue / margin 200k / 10% ! !1mio / 17.3% ! 4mio / 21% 12mio / 28%!
Capital need: USD 150k! 2nd round: USD 1mio! 3rd round: USD 3mio! EXIT USD 25mio!
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Free cash flow 2012 2013F 2014F 2015F 2016F
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%FCF 9,324 10,855 11,472 11,900 12,302
%
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%Cost of capital (WACC) 0.0 9.1% 9.1% 9.1% 9.1%
%Discount factor 0.917 0.841 0.771 0.707
%
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%PV of FCF 9,953 9,644 9,172 8,694
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