Research On The Valuation Of Internet Short Video Companies Based On Customer Value

Compared with foreign countries,Internet started late in China,but it has developed rapidly in the past 20 years.Especially with the help of the "Thirteenth Five-Year Plan",my country has made remarkable achievements in building a strong Internet country.With the rapid development of the industry,Internet companies have also entered into high-quality development.In recent years,Internet companies have gone public.At the end of 2020,147 Internet companies in my country have completed domestic and overseas listings,with a total market value of 16.80 trillion yuan.It is worth noting that many Internet companies have not yet achieved profitability before listing,and even lost money for a long time after listing,but they still gained a very high market value and market attention,which is not in line with traditional corporate valuation theory.Internet companies are greatly affected by national policy supervision.With the successive introduction of anti-monopoly and reduction policies,the stock prices of Internet companies have fallen one after another.How much is the enterprise value of major Internet companies aroused heated debate.Compared with traditional companies which have stable cash flow and a large number of fixed assets,Internet companies often have negative financial indicators at the beginning of their establishment and so much intangible assets,which shows that traditional valuation methods are not suitable for Internet companies.Therefore,the discussion of the new method for the valuation of Internet short video companies in this paper not only has academic significance,but also has strong practical value.The core question of this study is,for Internet short video companies,what kind of valuation model can more effectively reflect the actual value of the company? And the specific research issues can be divided into four aspects:(1)the concept and business model of Internet short video enterprises;(2)the evaluation method of traditional enterprises in the evaluation of short video enterprises Limitations;(3)Exploration of core value sources of Internet companies and revision of DEVA and CLV value evaluation models based on user value;(4)Practical application of the improved model in Kuaishou.The main findings of this study: the revised DEVA and CLV models can be used for enterprise value assessment,but only as a reference;secondly,the model pays more attention to operating data rather than financial data,so it is suitable for Internet short video companies whose financial conditions are not yet ideal;finally,the core factor of the model is user value,which is related to the number of active users,ARPU,etc.,and this is the core indicator of the operation of Internet short video companies,which is better close to the actual business of the company and promotes the improvement of the existing model.The innovation of this paper is: firstly,it studies the valuation of short video companies;secondly,it improves the traditional valuation model according to the operating characteristics of the short video industry to enhance its applicability.The value method is compared to verify the validity of the model.The practical significance of this paper is that: by analyzing the characteristics,business models and valuation difficulties of Internet short video companies,it proposes a valuation idea based on user value,and builds a valuation model on this basis,which further enriches short videos in my country.The valuation theory of enterprises provides a new valuation idea for the practical circle to carry out enterprise valuation.