After three years of struggling with cash flow, employees, venture capitalists and customers John Alan is happy. He has just finished a meeting with Goldman Sachs who indicated to him that they would like to take his company public. It appears that the market is strong for security related software companies. Goldman believes that his company is worth 15 times his EBITDA 5 years from now discounting the cash flows at 20%. Not bad John thinks. At least this will keep the VC