| Witkey crowdsourcing platforms such as "Zhubajie","Didi" has grown into unicorn companies,which serve Witkey,crowdsourcing,and freelancers to find part-time jobs or short-term programs.These kinds of companies is very important for the investors.But the conventional PE/PB valuation methods are difficult to evaluate the comanies,because they are often lack of financial data during the initial stage.So finding a relative valuation methods of marking by ventrue capital investors is practial.This paper try to use non financial valuation model on the valuation of initial stage companies to explore special model for crodsourcing platforms valuation.Through analyzing 36 Witkey crowdsourcing platforms in 10 industries,and defines two kinds of the platform:Platform type A--people can become a qualified service provider through short-term training,such as "Didi",crowdsourcing express,etc.;Platform type B--that people can't become a qualified service provider through short-term training,such as a platform of doctors,platform of programmers,etc.Based on this,10 of the most important indicators of the Witkey crowdsourcing companies is summarized.66 investors help to sort and give weight to these indicators by the way of questionnaires,and compare the differences between platforms type A and type B.The conclusion is,"For Planform A and B,investers both concerned with 3 indicators:the growth rate of platform business data,the number of consumers they currently own,and the number of service providers they currently own.For the platform type A,investors are more concerned with the ability to execute,and the number of consumers the platform already has.For the B-type platform,investors are more concernes with the advanced industry resources and the understanding of the internal rules of the industry." It is considered that "refinement of the evaluation indicators and measurement weights for each Witkey crowdsourcing industry" may become the focus of recent research. |
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