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diff --git a/mba/ch50.org b/mba/ch50.org
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--- a/mba/ch50.org
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@@ -157,3 +157,25 @@ Calculate YOY for *Revenue*:
 *** Conclusion
    - Taxes weren’t calculated before 2017 because the company didn’t have taxable profit.
    - Once the company turned a profit in 2017, taxes were applied.
+
+** IP Valuation: Growth vs Value
+- Assume an Initial Public Offering (IPO) in 2020
+- Based on the Financial data given, how and what will different types of investors PAY for this company
+
+*** Growth Investors
+- focus on *revenue* as the primary metric
+  - especially for high growth companies
+  - take the revenue in the year of the IP and multiply it by 10, that is what they will pay
+
+\[
+\text{Growth Investor Valuation} = \text{Revenue for IPO Year} \times 10
+\]
+
+*** Value Investors
+- focus on *current profitability* (earnings, ie EBIT)
+  - lower valuations for high growth companies
+  - high growth companies reinvest profits into expansion, research, etc.
+
+\[
+\text{Value Investor Valuation} = \text{EBIT for IPO Year} \times 10
+\]