The Application Research Of The User Value Method In Online Travel Enterprise Value Evaluation

With the rapid development of the Internet,the Internet has changed the way people live,and it has also changed the business model of the company.For enterprises,the integration of all walks of life and the Internet has improved operating efficiency and reduced operating costs.For consumers,they can shop,work,and spend at home without leaving home.Through these convenient products provided by the Internet,we are able to conduct online transactions,exchanges and entertainments anytime,anywhere via the Internet.The convergence of the Internet and traditional businesses increases efficiency while stimulating consumption.In particular,the integration of the Internet and tourism has produced online travel.Visitors can check the sights information through the internet.However,with the rapid development of the Internet,it is followed by increasing market competition.For Internet companies,the amount of funds needed in the early stage is large.In order to expand,it is necessary to use the support of external funds.Therefore,Internet companies have become active in the capital market.When enterprises develop to a certain scale,some enterprises start financing,mergers and acquisitions.And these fair trades are inseparable from value assessment.Based on the characteristics of online travel enterprises,this paper analyzes the limitations of traditional valuation methods on the valuation of Internet companies,and introduces an evaluation method that is moresuitable for Internet enterprise value evaluation-user value valuation method.The existing user value valuation method valuation model is analyzed,and the existing model is improved by combining the industry characteristics of online tourism enterprises.Firstly,the theory related to user value valuation method is introduced,and the existing valuation model is combed.Secondly,combined with the characteristics of Internet enterprises and the particularity of business model,Zipf’s law and user stickiness are introduced to estimate the model.The correction is finalized.Finally,the valuation model and related parameters of this paper are determined,and the valuation results are calculated.The valuation results are compared with the market price to verify the rationality of the valuation.This article takes the online travel enterprise Tuniu.com as an example.From the perspective of the manager,using December 31,2017 as the benchmark date,the user value valuation method is used to value the enterprise value,and the valuation result is 2017.The market value of the cattle network is compared to verify the validity of the valuation results.Finally,the following conclusions are drawn: First,users are the key factors affecting the value of Internet companies.The value assessment of Internet companies requires users to influence the value of enterprises.At the same time,different users have different influences on enterprise value,mainly considering users with user value.Secondly,because Internet companies have diverse business models,most of them are loss-making enterprises and it is difficult to find similar comparable companies,so it is necessary to The mode determines the selection of parameters;finally,the number of users and the value of the enterprise are neither linear growth nor exponential growth,but rather between them.