I have backed many startup companies, at first round/seed stage premoney valuations ranging from under $1 million to over $25 million. Some companies formed by superstars get much higher valuations than that. Some companies rely on angels to set the early valuation, which is a little like asking a customer how much they want to pay for your product. Other companies sell enough SAFE to get to a viable product and revenue and then rely on a competitive process with professional investors to set the Series A valuation. If you would like to discuss this further please feel free to get in touch with me.