A company that makes online gift cards just raised $56 million at a valuation of just under $1 billion. The company's name, ironically, is Raise. I'm not making that up.

Raise is doing more than $10 million a month in gross revenues, and keep a 15-percent cut. So they're doing $2 million to $3 million a month in actual revenues. Be generous and call that $40 million in full-year 2015 revenues. This means Raise is being valued at 25 times their revenue.

For the sake of comparison: Facebook trades at 12 times its estimated 2015 revenues.

I'm sure this all makes sense. Faster growth, extrapolate into the future, huge potential on mobile. Right. Yup. Got it.