I believe that seed funding rounds are not solely determined by the by number of users alone, there are several factors included in it alongside the users.
If the founders are asking for $4 million and he needs a 25% ownership stake to rationalize the investment, then everyone agrees that, on paper, the company is worth $16 million. That’s been the experience of Peter Pham, cofounder of Science, an incubator in Santa Monica, California behind Dollar Shave Club and Bird, among others.
You can read more here: https://www.svb.com/blogs/silicon-valley-bank/determining-seed-startup-valuation
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath