Completed Salted Fish's Self-help Strategy

Seeing yuan Mu's expressionless face, Lei Siyun frowned: "I've talked with my colleagues, and the valuation of a lot of head sizes is falling. Only the first-line size can be valued at 100 million level now."

"So people don't value themselves in the way of we media. You really don't understand new media. Our company is short of talents! " Yuan Mu clapped the report in his hands: "I will not send your report to the company. I think you are completely, completely, not fulfilling your responsibility. You can report it to the directors who care about it

Lei Siyun's eyebrows immediately stood up, "Hey, Xiaomu, why didn't I do my duty? I know you and Mr. Yuan are more optimistic about him, but you have to abide by the basic law, right? Valuation is not a matter of slapping the head! "

"I didn't pat my head, but you're obviously wearing colored glasses. There are many things you should see that you don't see at all. "

"Then, according to the financial data of Ba Ren entertainment, what kind of valuation can you get by using DCF income method, comparable company method and cash flow discount method? What are their growth expectations? Is there sustainable growth? "

Lei Siyun was highly expected by several directors, and he was not grumpy. "They are not we media companies. What are they? You're not valuing Internet startups by Pau, are you? They don't have a traffic portal, and they're not users. Their concerns are all fans and platform users. It's unscientific to convert them according to the number of users! "

"No, it's just a market rate." Yuan Mu wants to turn his eyelids adorable. "Ba entertainment has been established for five months. There are tens of millions of cash entries. Live reward, official account, selling magic devices, costumes, knowledge sharing, etc., are you writing in your report? "It's normal to calculate at ten times the market rate, isn't it?"

Yuan Mu also recently realized why Chu Yuanxi put forward a billion yuan valuation and never let go. When a person thinks about too many complicated things, he often ignores the simplest one.

The simplest financial method in valuation logic is PE and PS, but they are basically valuation methods that will be considered after round B financing. Because when using this method of calculation, the valuation object is often a company that has developed, mature or has begun to take shape.

For start-ups, there is no profit and no sales, especially in the Internet industry. They start by burning money, so round angel and round a basically do not use financial estimation for financing.

Angel round of financing, valuation and investment amount are mostly decided by patting the head. For example, when Pony Ma was a penguin, he gave the investors the valuation. The investors were stunned and asked: is your company worth so much money?

Pony Ma's answer is: I need so much money.

Round a financing is a little better than Angel round. You can see the initial achievements of the start-up companies, and then make the next investment. The initial result is usually the number of users. For example, after making an app, the 10 million people of angel rotation have burned out, and there is almost no income, but there are 300000 people active every month.

According to the logic of NASDAQ, in this case, if a user assumes a value of $15, the estimated value of 300000 monthly life is $4.5 million. At this time, the investors look at it, oh, the valuation of your angel round has reached 25 million, and there is no growth of $4.5 million, so the company died in round a and could not finance.

But if it has 500000 months to live, its valuation will be $7.5 million. The growth is OK, and the proportion of the founder's diluted equity can also maintain the stability of the company, so it can cheat another round of money.

Only in round B, when the company has generated revenue, can it use the financial method for valuation.

And chuyuanxi directly stepped over the previous steps, which is the charm of doing we media. According to the market rate, the value of Ba people's entertainment is worth one billion.

Of course, in Yuan Mu's eyes, he was charming, but in Lei Siyun's eyes, he became a scab. He was so angry that he jumped up and said with a sneer, "can the disposable income be counted as the market sales rate? Forget it. I won't argue with you. I'll do my job. " Then he turned away.

Yuan Mu looked at his domineering look, in the Heart funny, and leisiyun thought is: I don't understand new media, do you understand? You're a talent. How much money do you have? Hum -

he went back to his office to get the report, went straight to Yuan Liu's room and saw yuan Liu send Yuan Jing and Yuan Rong out. Yuan Rong's face is full of smiles, just like the mouse who has just stolen two liang of oil. Yuan Jing is still stiff faced, which makes people confused.

Lei Siyun nodded to Yuan Jing, then went into yuan Liu's office with his head high and said to Yuan Liu, "Sir, my investigation is over. This is the result of the investigation."

As for Yuan Jing and Yuan Mu's brother and sister's desire to participate in Ba people's entertainment, it's no secret in Zheng de for a long time. Of course, Yuan Liu, who is a director of the board of directors, knows about it. He himself was responsible for the company and asked Lei Siyun to find out the financial level of Ba people's entertainment. Then it happened that Yuan Rong asked for help.

At this time, he had already learned from Yuan Rong about the potential strength of Ba people's entertainment. Even Yuan Jing thought about the conditions for both sides. It was probably in the form of proportional distribution of gross sales profit, with 15% as the authorization fee.At first, Yuan Liu thought that 15% was too high, because it was not OEM, and Ba Ren entertainment had no toy brand, which was equivalent to IP licensing.

However, Yuan Jingyi explained that Ba people's entertainment doesn't give up after they have been granted the right. They still need to live broadcast and bring goods to Amway, which has tens of millions of fans. It seems that the proportion is not high, and the advertising cost is already a little low.

At this time, he has been optimistic about leisiyun finally came.

Yuan Liu let Lei Siyun into the office, then took the report and looked at it. At that time, his face changed and asked, "have you seen it to Xiaomu? What did she say? "

"She said..." Does Lei Siyun feel that Yuan Liu's tone today is a little different from that of the past? Yuan Liu is the most appreciative director of his company. "She said I didn't do my due diligence and that I didn't understand new media. Ah, you said Yuan mu, how much did she pay for playing IP by herself? Did she not count in her heart? How can she say that? Can't because Chu Yuan Xi lets her lose less money, she agrees with each other? "

"However, you did not fulfill your duty of due diligence!" Yuan Liu rolled up the report and beat Lei Siyun's skull: "who said that other companies have no practitioners in the clothing industry? Yang Yuanmei's parents are the boss and general manager of Meiwa toys. How did they find you to sell cute artifact and clothing