Private SaaS companies have always been valued less than their public company peers. SaaS Capital recently reported that the gap had grown to almost 50%. While SaaS valuations have moderated a bit in 2021, they still stand at near all-time highs. As the Software Equity Group has reported, median public company SaaS EV/Revenue valuations were almost 15x at the end of Q2 2021. Leading companies like Zoom and Shopify are valued at over 50x EV/Revenue. There are many factors that account for private companies being valued less than public companies: illiquid equity, no public/audited financials, no SarBox certifications.