Network marketing companies thrive on the word of mouth potential and understand that referrals are the best way to divert traffic to their websites. And the best way to do so is to ensure that the existing customers can bring in traffic for them. It is simple but unique way of developing business online that not only is profitable for the company but also pays handsomely to the affiliates doing the actual traffic generation work.
Finally, when applying discount factors, where do you intend to get your discount numbers? For a company with existing debt and equity capital you can calculate WACC and use that. For a startup company you need to figure out a risk_adjusted cost of capital that makes sense. Usually this is not just a risk_free rate which only the largest companies in the world have access to. It's probably something higher.