Research On The Value Evaluation Of New Internet Enterprises From The Perspective Of User Value

Under the environment of "Internet +" concept,the Internet industry ushered in a comprehensive upgrading.The profit growth of the traditional Internet industry is slow.We need to seek new profit growth points.A large number of new Internet companies are born.Although the emerging Internet industry has not been born for a long time,it has a rapid development momentum,covering all aspects of daily life.The emergence of a series of "new welfare" marketing modes that attract users to register makes the number of registered users of emerging Internet enterprises reach a very high scale in a short time.The realization of rapid growth of users needs a lot of capital support.In the early stage of the development of new Internet enterprises,multiple rounds of financing are needed to support the development of enterprises to start to make profits.Some enterprises will even be merged when there is a problem in the capital.As the industry is in the early stage of development,there is no one dominant situation,and all enterprises will try their best to win the industry leadership position,with fierce competition,so the financing and M & A activities of emerging Internet industry are very frequent,but there is no better evaluation method for emerging Internet enterprises.This paper defines the concept and characteristics of new Internet enterprises,analyzes the factors that affect the value of Internet enterprises,and hopes to find a suitable evaluation method for new Internet enterprises.By analyzing the applicability of valuation methods commonly used by Internet enterprises,we finally decide to use the Deva model based on user value as the basic model to evaluate the emerging Internet enterprises.After analyzing the model,we found that the square relationship between the number of users and enterprise value in the original model is no longer suitable for the actual situation of the Internet industry,so we introduced Zipf law to modify the relationship.In terms of parameter modification,this paper gives a clear definition of the fuzzy parameters in the original model,which makes the model more practical and can be used in the actual evaluation.First of all,this paper introduces the user life cycle model and the average user income,which are commonly used indicators of Internet enterprises,to modify the discount factor,so that the model is more suitable for emerging Internet enterprises.Secondly,for the definition of the number of users,this paper believes that the paid users of enterprises can reflect the contribution of users to the enterprise value more than the active users,and the use of the number of paid users as the number of users can get the enterprise value more accurately.Finally,for the node distance parameters that are not clearly defined in the original model,this paper will use AHP to determine the weight of non-financial indicators that affect user satisfaction,and then use the inverse relationship between user satisfaction and node distance to quantify node distance.In the last part of this paper,we choose the Pisces live broadcast enterprise as the evaluation object,and use the modified model to evaluate its value,and verify the rationality of the model by comparing the evaluation results with the market value.In this paper,the user value as a starting point,the establishment of the new Internet enterprise value evaluation model,in the case of failure of traditional evaluation methods,for the new Internet enterprise value evaluation provides a new way of thinking.Although this paper initially verified the feasibility of the method,there are still deficiencies,such as the disclosure of financial information and lack of practical basis,which need further study.