The Research On K Enterprise Value Evaluation Based On Modified DEVA Model

As the pace of life continues to accelerate,fragmented entertainment has become the main way of entertainment.Dou Yin stepped up publicity in 2017 to bring the short video platform to the public’s attention,and the COVID-19 pandemic in 2020 also helped boost the short video platform’s development.By 2020,the market size of short video has exceeded 100 billion,and the number of users of short video platform has exceeded 800 million,entering a stage of rapid development.Reasonable valuation of short video platform can not only provide reference value for investors,but also for enterprise managers.Therefore,reasonable valuation method is more and more important for evaluating the value of short video platform.Based on the development background of short video industry,this paper introduces and analyzes the general situation,financial status,non-financial status,and valuation characteristics and difficulties of K enterprise.Short video platform is a "new format"enterprise in the Internet industry.As short video platform is in the development stage at present,basically all short video platforms are in a loss state,and the development of various enterprises is very different,so it is difficult to use traditional valuation methods to estimate.In addition,it is found that users of short video platform are an important factor affecting enterprise value,so DEVA model is selected to evaluate K enterprise.On the basis of the original DEVA model,after correcting the relationship between value and user contribution in the original model,and clarifying the average contribution and user of each user,the two parameters of market size and user stickiness are introduced,a new improved DEVA model which is more suitable for the value evaluation of short video platform is deduced.The improved DEVA model and cash flow model are respectively used to evaluate the value of K enterprise,and the results are compared with the average market value in 2021.It is found that the revised DEVA model is more suitable for the value evaluation of K enterprise.By analyzing DEVA model,it is concluded that the driving factors of enterprise value are active users,average revenue per user,user stickiness and user acquisition cost,and the corresponding countermeasures for value improvement are put forward.