Research On The Valuation Of Start-up Internet Companies

Stock listing is one of the important means of corporate financing.A reasonable valuation of the company’s value can ensure the rationality of the company’s listing and trading,and it is also an important way to protect the interests of investors.At present,with the emergence and development of emerging Internet companies,their outstanding growth potential may bring great returns and attract investors and society.However,due to the short period of establishment,the lack of basic assets,the large investment in the early stage,the late effect,and the great uncertainty,how to reasonably predict the future operation of the company,evaluate the value of the startup Internet company,and select appropriate The company’s value valuation method is undoubtedly of great theoretical and practical significance.The paper is divided into five parts: the first chapter,the introduction.This paper introduces the background and significance of the multiple-choice questions of the thesis,and summarizes the current research status of the literature.The second chapter summarizes the relevant theoretical basis.This paper mainly introduces the existing conventional valuation methods,expounds the ideas of gray forecasting model method and real option valuation method and its applicability.Combined with the particularity of Internet company valuation,this paper proposes the application of gray prediction-real option estimation method.in accordance with.The third chapter analyzes the status quo and valuation related indicators of the company.In combination with the current status of the company,the company’s profit model,financial indicators and competitors and industry analysis,and related indicators calculation;Chapter 4,the application analysis of the company’s valuation.Firstly,the gray forecasting model is used to make a reasonable prediction of the company’s future operation status,and then the relevant data is applied to the calculation.Based on the comparison with the traditional valuation method,the gray forecasting-real option model is used to evaluate the valuation of the Internet company.Finally,the conclusions of the paper and related policy recommendations are proposed.The innovative work of the paper is manifested in two aspects:First,the innovation of research methods.In combination with the fact that the startup Internet company has few data samples and high uncertainty,the gray prediction model can solve the problem of less data samples.The real option can solve the problem of high uncertainty,and the gray forecasting-real option valuation is proposed.An improved method that differs from traditional company value valuation methods.Second,the application analysis and countermeasures recommendations of Internet startups.Taking the Bilibili Inc as the research object,combined with the company’s existing profit model,financial indicators,competitors and industry data and analysis,calculate relevant indicators,through the traditional valuation of the income method,market law and The user value method and the three real option models of BS,binary tree and S&M are used to compare and analyze the valuation.It is considered that the BS method and the binary tree method can better reflect the short-term market value of the company,and S&M can predict the future value of the enterprise.Based on the grey prediction-real option method,the paper combines the rationality of the valuation of the start-up Internet company and proposes relevant policy recommendations.