Multiplers don't scale linearly. The lower your valuation, the more possible it is to get a higher multiple for various reasons (cash, # of bidders in the market, etc).
At $1B/year in revenue there aren't a lot of companies that can realistically acquire you. At $131MM/year, there are.
At $1B/year in revenue there aren't a lot of companies that can realistically acquire you. At $131MM/year, there are.
But still I agree. Both are quite high.