How the value of the token determined in ICO?

[Findingnemo]

I have a doubt for very long time we can see lot of ICOs were launched everyday but the value of the tokens differ from one project to another.The price of the coin set by its demand and supply when it comes to ICO coin there is no demand for it then how they were asking prices,it is based on something or just they set value on their own by just selecting a random number.

[JimmyNg90]

<...>

It's based on the capital which they would like to reach. For example, they would like to reach the hard cap in $200k and token supply to sale is 1 billion. Then they calculate the bonus for pre-sale, private sale, ICO,... The price is calculated how to reach the hard cap with 1 billion of token sold.