Research On Enterprise Value Evaluation Of Internet Short Video Platform Based On B-C Model

With the rapid popularity of instant messaging and social media,the short video industry has emerged and developed rapidly in recent years.By December 2021,the number of short video users in China has reached 934 million,with the usage rate reaching 90.5% of the total netizens,an increase of nearly 60.8 million in a year.The rapid development of the industry is bound to attract the attention of investors,and the influx of capital is bound to lead to the increasing demand for short video platform valuation.However,the current research on the direction of enterprise value evaluation of short video platform is very limited,and the value of related enterprises often can not be accurately reflected.Based on this,this thesis attempts to explore the valuation path suitable for short video platform enterprises from the perspective of enterprise user value,and build a B-C model to provide a reference for solving the practical problems of short video platform enterprise valuation.This thesis first makes clear the basic concepts related to short video,and at the same time makes a detailed analysis of its industry characteristics and valuation difficulties.It is pointed out that the valuation of short video platform enterprises is often difficult because the historical data of enterprises is difficult to reflect the real business situation,the non-sustainable operation of enterprises and the scarcity of comparable cases.On this basis,the thesis further understands and studies the value driving factors of short video platform,and points out that the value of short video platform is determined by four key factors: user factor,market share,innovation ability and financial factor.At the same time,this thesis analyzes and expounds the profit model of short video platform to understand the way of realizing the traffic of short video platform.Specifically,it can be summarized into four categories: free trial model,advertisement embedded profit model,value-added service profit model and e-commerce profit model with goods.Based on the above research,this thesis analyzes the limitations of the traditional valuation method when evaluating the enterprise value of short video platform.At the same time,combined with relevant theoretical basis,from the perspective of user value,try to use Bass diffusion model and CVBC model to calculate the value of short video platform enterprises,and modify the cumulative number of users,unit user contribution and user retention rate in the original model.Combining the two models from the perspective of user value to construct the B-C mode for short video platform enterprise valuation.Then,Kuaishou Technology is selected as the research object.Explain and analyze its financial condition and profit model,and then use the B-C model to estimate and analyze it.The results are compared with those obtained by the P/E ratio index to verify the rationality of the model.Finally,it is concluded that B-C model has certain applicability in enterprise value evaluation of short video platform.