Enterprise Value Evaluation Of Social E-commerce Based On User Perspective

In recent years,with the rapid development of Internet technology,the network coverage is more and more broad,people’s consumption mode is gradually information,the network economy rises with it,has become an important force to promote the development of national economy,but also the development and progress of our electric business industry.After the dividend period,the number of users on each e-commerce platform grows slowly and the operation model is consistent,which urgently needs new driving force to push customers to make shopping decisions.In a piece of red Sea,Pinduoduo,XiaoHongshu and other enterprises have adopted an innovative mode of e-commerce operation and announced financing and listing successively,with outstanding performance.In the capital market,social e-commerce enterprises are listed,mergers and acquisitions,financing and other transactions occur frequently.In this context,both management and investors need to understand the real value of social e-commerce enterprises to help them make correct strategic arrangements and investment decisions.This paper evaluates the enterprise value of Pinduoduo,a social e-commerce enterprise.First,it describes the basic concept and development status of social e-commerce enterprises,summarizes three business models of social e-commerce industry,and in-depth analyzes the important factors that have an impact on the value of social e-commerce enterprises.Secondly,combined with the characteristics of the social e-commerce industry,the principle and applicability of the three traditional evaluation methods are reasonably analyzed.Next,this paper introduced CVBC model framework as the theoretical basis,and found that there were still some limitations through the study of its model,so it made improvements on the active number of users,user contribution value,new customer acquisition cost and other aspects to make its parameters specific,so as to obtain a more suitable value evaluation model for social e-commerce enterprises.Finally,this paper takes Pinduoduo,a social e-commerce business,as an example,uses the model before and after modification to evaluate the enterprise,compares it with the market value at the evaluation point,and analyzes the difference rate between the two,so as to further demonstrate the feasibility and rationality of the model.Through research and analysis,this paper finds that compared with the improved CVBC model,the improved evaluation method can be better applied to the social e-commerce enterprises with obvious asset-light characteristics and great uncertainty of future business conditions.The evaluation value of the case enterprise obtained by the two evaluation methods is compared with the market price of the base date respectively.The results show that the improved CVBC model is closer to the market value,and the evaluation effect is better.At the same time for other enterprises in the same industry and other industries with the same characteristics of enterprises to evaluate the value of the new evaluation ideas.