Mobile App Valuation - Seeking Advice

Hey there,

I’m seeking help from people who have worked on such transactions or who have solid understanding of the process itself. I have been approached by group of investors who are seeking valuation expert for such mobile apps in the MENA region. I have good experiene in financial modeling and valuation of publicly listed firms however I have never worked on a startup/mobile app.

I have the following thoughts and I hope someone can validate/support/add on to the below:

-Estimating subscriptions/users based on current users/subscriptions to generate a revenue model

-Estimating operating expenses starting with R&D to OpExpenses, etc…

-Forecasting three financial statements based on operating model and forecasted variables

-Estimating median/75th/25th percentile EV/Revenue based on comparable/precedent transactions.

-Using the latter to estimate an EV and do the necessary B/S adjustments to reach to an equity value then discount using appropriate discount rate to reach a terminal value and probably create a scenario analysis for changing major variables used (multiple/discount rate).