I think revenue multiples for a seed round is too early. That's more of a Series A conversation when we are $3 million next year and we have $16 million the year after we have our eyes on. That's when we want to go out and raise a really big round that is very focused on revenue multiples. At this stage, I don't feel it's as appropriate. And so what multiple do you think you'll be able to defend to a Series A investor at that point?
In some ways, it'll depend on the market, but I think at the floor 10x, if you look at profit, we are... our operating profit by next year will be over 40% more profitable than Google or Amazon, because we don't fundamentally invest or hold the cost of the things that we fulfill for brands. It's also an infrastructure business.
We are fundamentally the infrastructure that allows brands to launch product the way that they will be launched for the next century. So this is an infrastructure monopoly position in the market with very high operating margins. And you need to be looking at as much more as an AWS play.