I have worked for many corporates. Leaders in an industry have an ability to buy market share and shelf space. Ie, they can throw money at customers or politicians lobbyists.

That leverage by large multinationals can squash the voice of a little development stage company like NNLX. Also, banks will not lend and I-banks can be swayed away from little companies by the Multinationals as well.

But as far as valuation, my last company was a life science company that had $250 mil in sales and sold to a large multinational for $2.2 bil.