You cannot set the value based on pageviews or members. I'd say you need also to consider at least
- the business model
- the stage of the company (just launched, early stage, mature...)
- the cost structure
As an example, let's say you have one million page views per month, and your only possible business model is advertising.
Considering 1% of average click through rate, and 0.40$ per click, that would make 4000$ in revenue per month. Such a website would have minimal hosting costs, let's say 50$ per month, so it'll make 3950$ profit per month. That obviously excludes costs of employees (that you should definitely account).
The value of such a website would be
value = yearly profit * (multiplicator)
where (multiplicator) depends on many factors:
- if it is an established website with employees and stable revenues, the multiplicator can be 4-10. Of course you need to calculate the profits in much accurate way than I did (taking into account employee costs and office, as a start)
- if it is just a website you run on the side, the multiplicator is probably lower (1-2). You can check website evaluations of Flippa, a marketplace for websites
- if your website is new, you should consider that it's value will probably increase in the next 1-2 years due to the normal network effect (and maybe better Google indexing)
On the other side, if your website offers paid memberships, things usually get more interesting. Evaluations also can become more difficult, but a few things to consider are:
- conversion rate (% of free users that convert to paid users)
- cost of user acquisition (how much you have to pay in advertisement to convert 1 paid user)
If it becomes clear that in your website
cost user acquisition << profit per user
then your website value will likely become much higher.