You have some friends starting a company and they come to you for advice on a valuation. They decide to do a very short version of a Scorecard Valuation. For their Scorecard they only use two factors, Management Team, which they weight 60%, and Strength of Opportunity, which they weight 40%. They weight themselves at 150% for team and 125% for opportunity. Using an average pre-money valuation of $2,000,000 what valuation did they come up with using this scorecard method?