<noframes id="dtfv3">
<address id="dtfv3"><listing id="dtfv3"><meter id="dtfv3"></meter></listing></address>

    <ins id="dtfv3"><nobr id="dtfv3"></nobr></ins>

    <form id="dtfv3"></form>

    聯系我們

    青海省西寧市城中區西大街42號(三田世紀廣場寫字樓29層2901號)

    13997072752

    39024015

    39024015@qq.com

    行業動態

    風投界不能只盯著“獨角獸”式的公司


      每一家獲得10億美元估值的非上市公司都非常了不起。要知道,十年前,這些公司就算是在創始人本人的眼中也是前景難料。因此,在此向所有這些成功者致敬,然后繼續進行跟蹤報道。

      但有一個問題有點開始困擾我:我們這樣關注階段性估值龐大的公司,可能導致我們一定程度上忽視那些估值未達到10位數但財務數據更好的公司。我們報道投資人時,這一點尤其突出。

      我的意思是:假設ABC風投對一家交易后估值10億美元的公司投資了5,000萬美元,獲得5%股份(是的,這里我進行了簡化分析)。隨后,這家公司上市,獲得估值20億美元,然后二級市場市值升到了50億美元。突然之間,這筆投資的價值達到了2.50億美元。太棒了。另外,假設123風投對一家交易后估值2,500萬美元的公司投資500萬美元,這家公司被雅虎以2.50億美元收購(因此向123風投支付5,000萬美元)。在我看來,123風投的交易似乎更劃算,因為它實現了10倍的投資回報,而ABC風投僅實現了5倍投資回報。

      但媒體不會公開為123風投唱頌歌,因為他們沒有逮住“獨角獸”。不過,現實是投資10億美元以上公司的風投大部分也沒有抓住“獨角獸”。當然,有些公司確實捕獲了“獨角獸”(往往投資時間很早),但大多數進入很晚,只是搭一段順風車。

      以《福布斯》雜志年度最佳創投人排行榜為例,這份排行榜宣稱對全球頂尖的科技風投人進行排行。排行計算的主要依據是退出成本(即收購或IPO),但同時也收錄了幾家尚未上市的獨角獸公司(這可以解釋為什么Accel的吉姆?布雷耶即使是在Facebook上市前也能在排行榜上占據榜首位置)。就算123風投有十幾家賬面市盈率達到兩位數的未上市公司也沒用,因為這些公司沒有一家的估值達到了10億美元。相比持有一家籍籍無名的生物科技公司的Series A優先股(剛剛以1.50億美元或2億美元的估值完成了D輪融資),不如參與Airbnb大規模的C輪融資。

      是的,風投是一項關于關注度的生意。每只基金都需要一、兩家表現特別出眾的公司來實現他們向投資者承諾的回報率。但可能我們都需要更加努力地來找到這些表現出眾的公司,而不只是癡迷于那些獨角獸。



    蚂蚁彩票
    <noframes id="dtfv3">
    <address id="dtfv3"><listing id="dtfv3"><meter id="dtfv3"></meter></listing></address>

      <ins id="dtfv3"><nobr id="dtfv3"></nobr></ins>

      <form id="dtfv3"></form>

      www.77114y.com | www.0622uuu.com | www.48330u.com | WWW.549735.COM | www.6889775.com | WWW.816234.COM | www.956568.com | 54141144.com | www.4999.hk | 3778802.com | www.65066jj.com | www.7777hv.com | WWW.594855.COM | 188468.com | x86.com | www.hg27588.com | WWW.193195.COM | 12562004.com | www.65066cc.com | WWW.614188.COM | www.c9.com | 1914222.com | www.61233c.com | WWW.29718.COM | 37570v.com | 2019i.cc | www.c1396.com | www.501251.com | 01234i.com | www.62979g.com | WWW.358011.COM | 4379t.com | www.94675.com | WWW.46299.COM | www.196049.com | 2490o.com | www.2021v.com | WWW.232657.COM | www.515848.com | 5350q.com | www.131095.com | www.955474.com | 2709o.com | www.ya488.com | www.43131y.com | 314.cc | WWW.313775.COM | zgfcw.cc | www.12136w.com | WWW.21658.COM | 9149x.com | www.089728.com | www.674577.com | 36408833.com | www.xcn6.com | 7334t.com | www.56730.cc | WWW.268573.COM | 00555004.com | www.997263.com | 445466.com | 3456789.net | WWW.813623.COM | 3868.cc | www.08588e.com | www.303717.com | 9995f.cc | WWW.630072.COM | feicai0518.com | WWW.135560.COM | 42fhyl.com | www.flb677.com | www.806721.com | 70118y.com | WWW.660940.COM | 69234.cc | www.52303h.com | 22296ww.com | www.087y.com | www.506273.com | www.9737uu.com | WWW.15787.COM | 3640qq.com | WWW.759988.COM | ll8159.cc | www.sx13997.com | www.333380.com | www.jl708.com | WWW.590013.COM | 2613b.com | WWW.791336.COM | 8827gg.com | WWW.356629.COM | 33382h.com | WWW.150058.COM | P35cc.com | WWW.665808.COM | tyc99998.com | WWW.114837.COM | wns3.net | WWW.272629.COM | feicai0913.com | www.901372.com | 44449193.com | www.178752.com | www.hg1125.com | l5429.com | www.50024r.com | 3559uuu.com | www.99084400.com | 1306766.com | www.28000p.com | www.080wy.com | 1479a.com | www.45598q.com | www.kj788.com | www.cn365b.com | WWW.383337.COM | ddcp66.com | WWW.180932.COM | www.cn365x.com | 4433399.com | www.4996tj.com | www.901576.com | www.5981b.com | www.521787.com | www.653968.com | www.546411.com | www.bb4625.com | 2096.com | www.wo41.com | 33aa8332.com | WWW.916086.COM | hubet555.com | WWW.568646.COM | 3644x.com | WWW.403747.COM | www.huangma30.com | www.653750.com | www.361cp.cc | 28288oo.com | WWW.37695.COM | 3225u.com | www.33588u.com | www.60007s.com | tt40033.com | WWW.884325.COM | 2689.com | WWW.664484.COM | lt101.net | www.622230.com | www.37377q.com | 30176699.com | www.bj399.com | 477106.net | WWW.743755.COM | www.q948q.com | www.564648.com | www.6880xx.com | 1168n.com | WWW.891094.COM | www.0099xpj.net | www.920kj.com | www.b79839.com | am556.cc | WWW.384677.COM | www.69567n.com | qq3189.com | www.81699.cc | 77606s.com | WWW.356669.COM | www.58665z.com | www.88065e.com | www.hg9388.xyz | 37570r.com | WWW.760276.COM | www.9989578.com | a99345.am | 334334.net | WWW.760709.COM | www.7892.com | 020700.com | 44009.com | WWW.761477.COM | 6245b.com | 9002r.com | WWW.630580.COM | www.81608c.com | aaa7570.com | 29918a.com | WWW.114837.COM | www.c5c55.com | 87665t.com | WWW.845234.COM | www.3890m.com | wns950.com | www.500871.com | WWW.318664.COM | feicai0852.com | 1489w.com | WWW.376646.COM | www.633547.com | 1122589.com | WWW.836276.COM | www.566733.com | 3435z.com | www.128083.com | www.21202n.com | 38054913.com | 168cp-y.com | WWW.32423.COM | www.2632o.com | ff2205.com | www.666444.com | WWW.630526.COM | www.4833044.com | 2418004.com | csj110.com | WWW.370366.COM | www.8839q.com | vns300.net | 22117u.com | WWW.342855.COM | www.6880pp.com | b5957.com | 470178.com | www.529061.com | WWW.111071.COM | www.39500c.com | 131www.net | 6396k.com | www.616330.com | www.bai05.com | www.y2894.com | 68963000.com | 4541p.com | 0011341.com | www.967333.com | WWW.306822.COM | www.54400r.com | www.4996gs.com | feicai0412.com | 1213uuu.com | 22296ee.com | WWW.114286.COM | www.an966.com | www.9822.com | www.v88139.com | t2306.com | 4018m.com | 9895l.com | 102166.com | www.763287.com | WWW.318980.COM | www.16065h.com | www.xpj16684.com | 454664.com | puntbee.com | 23800.com | www.803733.com | WWW.283269.COM | WWW.153065.COM | www.689797.com | www.304081.com | 预览chunqiu6.com | 3246.com | yd12308.com | zhcppp.com | www.083026.com | WWW.73609.COM | WWW.312297.COM | www.81699.cc | www.50051hh.com | www.78680k.com | feicai0411.com | 98955f.com | 8006010.com | 59889z.com | www.137165.com | www.xinyc6.com | WWW.503635.COM | WWW.234885.COM | WWW.702671.COM | WWW.330953.COM | www.76520b.com | www.68993272.com | www.806765.com | www.32031r.com | www.b35mm.com | www.4963ii.com | 45637y.com | 38345l.com | 305225.com | 992222w.com | 38749.com | p2649.com | js567567.com | 1294t.com | 9479.com | 43330.com | 45637j.com | 2096f.com | 5309z.com | 2138.com | 2544b6.com | 20770000.com | www.983098.com | 20054422.com | 17765.com | 08778n.com | 3473w.com | 67890v.com | 80850ww.com | 660fh.com | 3049j.com | 88850xx.com | www.5001600.com | www.55060s.com | www.30350v.com | www.zzyl62.com | www.sb4010.com | www.40288e.com | www.1764m.com | www.91233q.com | www.3416p.com | WWW.671661.COM | WWW.256035.COM | WWW.219769.COM | WWW.676651.COM | www.647977.com | www.4987.com | 65005m.com | 3151.com | 365vip500.cc | 88535g.com | 348301.com | 8790vns11.com | 5651m.com | 28758p.com | www.86999.com | www.69567h.com | www.rfdc05.com | www.ywzuqiu.com | WWW.134474.COM | WWW.111457.COM | www.155782.com | 500000730.com | 5855xx.com | 287711.com | 3568ww.com | 5004sss.com | j47479.com | www.4694v.com | www.84499d.com | www.xpj228888.com | 81366u.com | www.321953.com | 8957c.com | lemcoo.com | www.1035h.com | www.599457.com | 80567j.com | www.ba508.com | WWW.771694.COM | P35p.com | 78117700.com | WWW.66117.COM | WWW.148733.COM | 199899.com | 8977xx.com | www.79579.com | WWW.193987.COM | 8294x.com | feicai0937.com | www.3552u.com | www.290252.com | 22uu8332.com | www.bet73k.com | www.939763.com | mm444000.com | www.688sb.21.sb | WWW.320034.COM | www.123bdz.com | t4212.com | www.ag0456.com | WWW.310799.COM | 38345t.com | 25288j.com | www.48330i.com | WWW.374935.COM | swtyrrr.com | www.77074.com | WWW.702067.COM | 4018pp.com | www.hg8pp.com | WWW.414098.COM | 2257019.com | www.w84e.com | WWW.384928.COM | 6150i.com | www.0076788.com | www.621361.com | 3552w.com | www.44118p.com | WWW.605995.COM | 3950l.com | www.774546.com | WWW.882190.COM | 39199h.com | www.79579.com | www.175969.com | q2554.com | WWW.844965.COM | 1591jjj.com | www.9895h.com | WWW.638776.COM | jixiang6.com | www.aa15.cc | www.321693.com | 9895.com | WWW.920091.COM | jr9933.com | www.hg8889.com | www.244343.com | 56132450.com | WWW.22132.COM | 8742q.com | www.369405.com | www.959579.com | 9649i.com | WWW.582557.COM | 180111.net | www.209337.com | www.338032.com | 3685.com | WWW.541487.COM | 20777799.com | www.yh66988.com | www.634679.com | 3049b.com | WWW.690149.COM | gg3336.com | www.c300.biz | 3678vv.com | www.7406.CC | 23800r.com | www.97994b.com | www.234287.com | www.360cp.com | WWW.857776.COM | 775085.com | WWW.919269.COM | 600.cc | WWW.671147.COM | 58000c.com | www.35155d.com | 9479c8.com | www.6939j.com | 8180v.com | www.52062z.com | www.966829.com | 2649e.com | WWW.383774.COM | 6907888.com | WWW.806047.COM | 80368ww.com | WWW.890566.COM | 2490i.com | WWW.860641.COM | ylzz4448.com | www.222xm.cc | 3189qq.com | www.22czt.com | 50022211.com | www.aa3890.com | 58222kk.com | WWW.217689.COM | 45637r.com | WWW.887110.COM | 26849.com | WWW.810948.COM | 3640jj.com | WWW.124046.COM | 87965pp.com | WWW.929659.COM | feicai0714.com | WWW.497234.COM | www.101045.com | www.375805.com | LDZ333.com | www.738126.com | www.4058p.com | www.234287.com | www.668puj.com | 98955i.com | www.50054b.com | 6600mmmm.com | WWW.132349.COM | 3807t.com | WWW.784103.COM | 2546.com | www.607252.com | www.33678dd.com | q646.com | www.66332b.com | 78112233.com | WWW.517155.COM | 444b9.com | WWW.541489.COM | www.sj52388.com | www.96386v.com | www.3775r.com | 56988c.vip | www.cb3288.com | 60688.cc | WWW.110327.COM | www.80969y.com | 70867.com | www.60123r.com | 7681006.com | WWW.509684.COM | 15f9.net | 2345tm.com | www.76520p.com | 6002v.com | WWW.740045.COM | www.15223.com | 744181.com | www.26163y.com | 3640ww.com | WWW.898579.COM | www.9170187.com | jnbzsj.com | WWW.234265.COM | u86811.com | www.582914.com | www.hg36799.com | 66648k.com | WWW.863335.COM | www.n948n.com | www.111146.com | www.009hy.cc | 2078t.com | www.507285.com | www.33311.com | cao618.com | WWW.690366.COM | www.3032jj.com | JS1388v.com | WWW.743755.COM | www.99c668.com | p222.com | WWW.322401.COM | 3844m.com | 2m.cc | www.loll3.com | z92266.com | WWW.675621.COM | www.hg0083.com | hg2088.com | WWW.16476.COM | www.88325l.com | 6423i.com | WWW.141655.COM | www.4996bx.com | 00774uu.com | WWW.645933.COM | www.xj7007.com | 30688c.com | WWW.366358.COM | www.77784yh.com | 7703kk.com | WWW.594855.COM | www.dw777.net | x08199.com | www.063552.com | www.fen00.com | 9964u.com | zz6199.com | WWW.307328.COM | www.4963aa.com | 3844oo.com | WWW.879388.COM | www.siji05.com | 38365v.com | www.507283.com | www.2875h.com | 3121ss.com | 20771155.com | WWW.305488.COM | www.ba502.com | 7240t.com | www.297790.com | WWW.789586.COM | www.4406488.com | 1227010.com | WWW.420318.COM | www.96386f.com | mf705.com | 0788.com | WWW.114288.COM | www.99552ll.com | 444000ff.com | www.106573.com | WWW.408908.COM | www.26123gg.com | 1966xpj.com | www.684944.com | www.cha64.com | www.50999c.com | 30019w.com | www.738126.com | www.k795.com | www.89599m.com | 2222k5.com | www.luck878.com | WWW.413558.COM | www.574546.com | 063939.com | manbetx168168.com | WWW.682352.COM | www.28891d.com | 2649uu.com | 18891.com | www.702152.com | www.cf9906.com | www.4996bt.com | dd01234.com | 8520c.com | WWW.827357.COM | www.50052r.com | www.424221.com | 35000.com | www.789111.com | WWW.398616.COM | www.68689r.com | www.61500.cc | i45638.com | 008513.com | WWW.853095.COM | www.9478j.com | www.9737vv.me | d3405.com | ylzz633.com | WWW.882150.COM | WWW.28920.COM | www.026688.com | 2019d.cc | 13222x.com | 44009.com | WWW.827357.COM | www.022tj.cc | www.69567w.com | 6830i.com | 55331m.com | 46330.com | WWW.296965.COM | www.fcyl1.com | www.608568.com | 5856e.com | 2127kk.com | www.586775.com | WWW.62098.COM | www.50051w.com | www.129088.com | 3505.com | w69441133.com | 80579f.com | www.647577.com | WWW.260340.COM | www.53536.cc | www.44118f.com | 8287.com | wns173.com | 4066v.com | 818665.com | www.960201.com | WWW.384922.COM | www.56717.com | www.3w111.com | www.s9478.com | x55.am | pjshanxi.com | 51200xx.com | www.161172.com | WWW.350709.COM | WWW.157249.COM | www.333hy.cc | www.jbb400.cc | www.b35uu.com | 8742a.com | blr89.com | 13222x.com | 222b9.com | www.49956v.com | WWW.308005.COM | WWW.55531.COM | WWW.384211.COM | www.76520x.com | www.3434aaa.com | www.4446ddd.com | 11162018.com | duch019.com | 4451133.com | 88850kk.com | 019222222.com | www.678654.com | www.330715.com | WWW.62216.COM | WWW.138605.COM | WWW.155761.COM | www.hw7890.com | www.80767z.com | www.1764.com | www.3116d.com | www.33707.com | 272ww.net | 2299555.com | z08199.com | o40033.com | 23478.com | cp088t.com | 8159ccc.cc | p88890.com | 8988i.com | www.94876.com | www.338073.com | www.808793.com | WWW.557147.COM | WWW.900527.COM | WWW.469703.COM | WWW.133246.COM | WWW.79279.COM | WWW.20128.COM | WWW.668808.COM | WWW.855980.COM | www.hj7776.com | www.8667f.com | www.89894r.com | www.954321l.com | www.065795.com | www.69999.am | www.1434x.com | www.087k.com | www.56011y.com | www.js58123.com | www.0087k.com | www.97828r.vip | www.12345603.cc | www.4809a.com | www.g63568.com | www.7681002.com | www.5958127.com | www.68993262.com | www.661365.cc | www.0967001.com | www.743902.com | www.99677z.com | www.75538d.com | www.29277l.com | www.45258.cc | www.088wy.com | WWW.328066.COM | WWW.370356.COM | WWW.5077.COM | WWW.679647.COM | WWW.563890.COM | WWW.177313.COM | WWW.453553.COM | www.988824.com | www.505420.com | www.115669.com | 5801890.com | 0107893.com | 1407s.com | js848.net | 58222d.com | 9506n.com | 25288f.com | 37570l.com | www.ggt.99233t.com | www.cn365o.com | www.r999996.com | www.9646h.com | www.555hy.cc | WWW.474621.COM | WWW.81121.COM | WWW.592677.COM | www.697896.com | www.043552.com | 22556o.com | 3656pp.com | 1458c.com | ccc4165.com | 9366.com | www.179022.com | www.7036e.com | www.2544.com | www.ct8811.com | WWW.456142.COM | WWW.870133.COM | www.622105.com | www.898959.com | 51335m.com | 88449193.com | 40033.com | 77c51.com | www.0169h.com | www.55676d.com | www.29277m.com | WWW.741122.COM | WWW.266567.COM | www.626507.com | 4195g.com | 80892mm.com | dc1104.com | www.799666g.com | www.c559vip.com | www.63606r.com | www.08588q.com | WWW.806711.COM | WWW.899783.COM | www.161763.com | 3730-79.com | 51133tt.com | 6701m.com | www.44118c.com | www.3416q.com | WWW.614133.COM | www.775701.com | dz881.com | zhibet188.com | 2267c.com | www.63606i.com | www.1368a.cc | WWW.44138.COM | www.596960.com | 3983.com | 3967.com | www.o456x.com | www.99094q.com | WWW.668651.COM | WWW.378411.COM | 1234fh.com | sha134.com | 3169e.com | www.8c444.com | www.cai345.cc | WWW.180893.COM | www.23277.com | 8381h.com | hg91558.com | www.288sb.21.sb | WWW.922118.COM | WWW.359738.COM | c.kuktt.cn | 33112211.com | 1679c.com | www.6687l.com | www.c5905.com | WWW.829994.COM | 00773b.com | 888991188.com | www.71071q.com | www.00840f.com | WWW.877750.COM | 6hwp.cc | 56787zz.com | www.dggcp.com | www.52303f.com | WWW.662508.COM | 434355.com | 3662h.com | www.24199.com | www.22czj.com | WWW.657479.COM | 7584999.com | hubet555.com | www.7920c.com | WWW.362790.COM | www.117015.com | 553322EE.com | www.4963n.com | www.77fzc.com | WWW.654769.COM | 1545.com | 2544b9.com | www.4058i.com | www.hczx3.com | www.911203.com | bcylc88.com | 4255mm.com | www.60123l.com | WWW.790933.COM | 6641aa.com | 883399e.com | www.hg1177.com | WWW.720096.COM | hg1698.com | 566670066.com | www.55885c.com | WWW.600554.COM | 6hcc88.com | oo2205.com | www.ya2019d.com | WWW.658455.COM | p1app.com | 2767o.com | www.725641.com | WWW.631819.COM | www.504733.com | jr9933.com | www.cai73.cc | www.055g.cc | www.593411.com | 0485e.com | www.64566f.com | WWW.768765.COM | www.388579.com | 672bet.com | www.3775u.com | WWW.800868.COM | LXYL365.com | 37570q.com | www.77210j.com | WWW.250717.COM | 3202k.com | 748335.com | www.hx6606.com | www.186327.com | 66300vip20.com | www.747365a.com | WWW.482456.COM | 53262e.com | www.078121.top | WWW.232334.COM |