In November 2013, Bob Dohmeyer and Rod Burkert presented a new approach to cost of capital estimation for private businesses whose revenues are less than $150 million. That approach, the implied private company pricing line (IPCPL), uses small private-company transaction data to solve directly for the cost of capital for a typical risk private company with $150 million or less in revenue. In this webinar Dohmeyer, Burkert, and fellow IPCPL co-creator Peter Butler present the implied private company pricing model, or IPCPM. This model, a derivation of the IPCPL, is a response to requests from appraisers that Dohmeyer, Burkert, and Butler develop a model that adjusts the IPCPL for companies with outlier fundamental characteristics and which allows for a departure from the IPCPL line.