Last year myself and two other partners got together to work on our startup. We got an offer from one of the investors for 40K seed money. We turned down the offer because one of the founder was expecting a baby 2 months later and one founder was in process of re-location.
Fast-forwarding to today, we kept on working on the idea and bootstrapped it. We all are making 100K plus salaries so did not feel the need to quit our jobs for 40K.
We are at the stage where we now think that it is better to spin off the startup as we can no longer contribute our time to it due to personal commitments.
What do you think something is worth which had 40K seed offer and has a working product?
Note: we have not launched the application yet to public. It was only shared with Friends and family and few investors and got good feedback.
Your start-up is worth approximately nothing.
Since you haven't launched and don't have any customers, all you have is an idea and some coding. The code is only worth something to implement the idea. Ideas are ten a penny.
The 40K investment offer was an investment in you and the potential you had in taking that idea to market. That value doesn't stay if you leave. The fact you don't want to peruse the venture any further would be a huge warning light to any potential buyers.
The offer was for 40k in seed funding but in exchange for what?
If for 10% of the company that would value the company at a certain amount. However, that value is relatively meaningless without people to run the company most of the time.
The COCA(Cost of customer acquisition) and the LTV (Life time value) of the customer are good figures to have in your mind to really assess the value.
Valuation is all based on individual perception, if exit is your strategy then to you it's worth whatever you'd be willing to sell it for. To someone positioned to sell the product easily it could be worth much more, or less.