| Thanks to the development of network technology and the popularity of Internet mobile smart devices,our society has entered a highly digital era,now short video as a new way for people to understand the world and information dissemination,gradually show people its unique characteristics,people are the most obvious,is fast,streamlined,real,strong shock and other characteristics.The short video that passers-by saw with their own eyes and filmed was much stronger than the traditional journalist’s news report in terms of transmission speed and impact on people’s vision,and the short video audience did not need to abstract the situation of the news scene through words,and you can get a perceptual understanding of things,such as in China’s epidemic prevention and control in 2020,the elderly who cannot understand the virus are also willing to watch the short video of Academician Zhong Nanshan,recognize the importance of wearing a mask,and then wear a mask.In February 2021,the ten-year-old Chinese short video giant Beijing Kuaishou Technology was officially listed on the Hong Kong stock market,becoming the first listed company in the short video industry.However,traditional valuation methods and theories are not suitable for the value assessment of short video Internet platform enterprises,first,short video Internet enterprises are in the early stage of industry development,the future operation mode has great uncertainty,and most of the companies are in a loss state;Second,short video enterprises are also Internet enterprises,with the characteristics of light assets,high risk,and high growth.Third,the short video industry as a whole is in the early stage of development,the competition of industry companies is fierce,there is no very mature enterprise operation reference target in the industry for the time being,and it is difficult to determine whether the value of the assessed enterprise is accurate or not.This paper first expounds the characteristics of the development of the short video industry,analyzes the business model and profit model of short video Internet enterprises,and finally concludes that user value is the core value of short video Internet enterprises,and then compares and analyzes the applicability of traditional Internet enterprise valuation models with other Internet enterprise valuation models based on user value(such as Metcalfe’s theory(DEVA),user life cycle model(CLV),etc.),combined with the user stickiness of short video Internet enterprises,profit model more diversified and other characteristics,finally chose to choose the CVBC(Corporate Value Based On The Customers)model based on user value to evaluate the enterprise value of short video Internet enterprises.This paper improves the calculation of key parameters such as cumulative user number prediction,marginal return per unit user,and user retention rate in the traditional CVBC model,and introduces the BASS diffusion model to predict the number of future cumulative users,making the improved CVBC model more suitable for the value evaluation of short video Internet enterprises.Next,considering the current problem of obtaining public information of short video companies,this article finally selects the currently listed short video giants. |
