Tried to figure some valuation for LC. Difficult, because the numbers are changing so rapidly.
2013 was the year they crossed over into profit, but 2014 will be the year that their profit increases drastically. Could be 10x year over year. This is a natural result of having just crossed over into positive numbers, and having a small profit in 2013. ...and presuming revenue continues to grow. Its almost a divide by zero situation.
Therefore, it seems to me that there is a strategic advantage to having the IPO later in 2014, after they can report a couple of quarters of radically increasing profit. Those numbers would look quite dramatic in the red herring, and would justify a much higher price.
I had been expecting an IPO in early 2014, but now I'm thinking later. An early 2014 IPO might get a valuation of $3B, but one later in the year could be $6B or something.
PS: I'm not an IPO pricing expert.