<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>

      yh888w.com | 781888.com | 99008448.com | 25288j.com | www.601709.com | 3379f.com | www.123679.com | WWW.117614.COM | www.csgc1.com | www.988068.com | hg4668.com | www.57800y.com | www.2632m.com | WWW.113045.COM | www.78222.com | q1458.com | www.5446ff.com | www.w984.com | www.515848.com | 22889193.com | www.128088.com | www.3478b.cc | lh049.com | vv1915.com | www.47506.net | WWW.919855.COM | 3552d.com | 30019r.com | www.35918k.com | WWW.860232.COM | 4546vip8.com | www.4963mm.com | WWW.260076.COM | www.526901.com | 2506g.com | www.50024b.com | WWW.11845.COM | sbd0022.net | www.jz787.com | WWW.815898.COM | www.444192.com | 218jc.com | www.54400w.com | WWW.581297.COM | h8828.net | www.5099ww.com | WWW.616514.COM | 914903.com | www.52062o.com | WWW.637171.COM | 7792o.com | 500000724.com | WWW.665984.COM | hv712.com | www.20199ee.com | WWW.22132.COM | 81081.com | www.xpj556677.com | www.757988.com | 95c53.com | www.4j8.com | www.976516.com | 55331ss.com | www.8499e.com | www.239828.com | 82997.com | www.79gcw.com | www.222241.com | www.789ww.com | WWW.434433.COM | 3846vv.com | www.pj9030.com | WWW.699564.COM | 59889c.com | WWW.748834.COM | ca1055.com | www.16065u.com | www.640177.com | 33382o.com | www.hjin4.com | 88dd88.com | www.565636.com | WWW.706136.COM | 57157m.com | www.50024l.com | 195668.com | WWW.65093.COM | 11v111.com | www.f83377.com | 3822d.com | www.lb55567.com | WWW.354681.COM | 2267o.com | WWW.175361.COM | 50023355.com | WWW.658439.COM | 93922v.com | WWW.928870.COM | 53262ii.com | WWW.149090.COM | 3535.cc | www.1035v.com | 70766633.com | www.750966.com | 0310sands.com | WWW.260444.COM | 93777.com | www.66074.com | 80368yy.com | www.q98478.com | dl.hg258.in | www.0014f.com | hg0266.com | www.5854k.cc | feicai0892.com | www.520988.net | 87665.com | www.66730.cc | 2381u.com | www.66332j.com | 6261001.com | www.ch8567.com | 59522w.com | www.07163d.com | feicai0717.com | www.1434u.com | 1408.am | www.29277hh.com | 7720w.com | www.78919g.com | 3807vv.com | WWW.657419.COM | 8522eeee.com | WWW.689244.COM | www.5504.com | xpj677s.com | WWW.563510.COM | 22ll145.com | WWW.187510.COM | 635288.com | WWW.320034.COM | www.wnsr3526.com | aipin88.me | WWW.521865.COM | www.2945g.com | www.655870.com | www.588824.com | f7742.com | WWW.709024.COM | 3225t.com | WWW.303800.COM | 11161188.com | www.514077.com | www.99677j.com | 91019f.com | www.363477.com | www.30350f.com | 139234.com | WWW.11752.COM | www.q9478.com | 0698r.com | WWW.775555.COM | 951202.com | WWW.350153.COM | www.78680r.com | 21866g.com | www.81608p.com | 0054242.com | www.60007b.com | 2078j.com | www.232651.com | www.50024c.com | 00jj8332.com | www.593411.com | www.hg341.com | ii40033.com | WWW.544229.COM | www.38138i.com | www.93499.com | www.08588u.com | 647768.com | WWW.268122.COM | www.yh888a.com | 6150q.com | www.942677.com | www.js56772.com | hggjtg18.com | www.812830.com | www.cb600.cc | h72227.com | 2355a.com | WWW.816234.COM | www.90j.com | 9081cc.com | WWW.93379.COM | www.7415j.com | 91019k.com | WWW.805329.COM | www.7782v.com | www.fh7.com | 65561155.com | www.80065o.com | www.8039x.com | www.3846l.com | k4255.com | www.456836.com | www.87668y.com | 3788.red | 3121aa.com | WWW.686677.COM | www.6sun.com | 2767z.com | www.650tk.com | WWW.99230.COM | www.6880jj.com | 4255gg.com | 138763.com | WWW.604135.COM | www.zch8.com | www.52062j.com | 8036r.com | 4995f.com | WWW.498615.COM | www.2934b.com | www.38138c.com | hjdc2018.com | 08820066com | hugedomains.com | WWW.549735.COM | www.xpj915.com | jjjj.com | 407uu.com | 9149o.com | www.577983.com | WWW.409808.COM | www.e3410.com | 8827ww.com | 5360a.com | 2455b.com | www.885345.com | www.3933t.cc | www.4809y.com | www.5008637.com | qq67890.com | 8957c.com | www.123f4.com | WWW.787799.COM | www.624618.com | k67890.com | 996622xx.com | www.1p6.com | www.877876.com | WWW.606722.COM | WWW.567836.COM | www.cn365w.com | 3522a.cc | xpj.com | www.717226.com | WWW.629066.COM | www.83993j.com | www.hgbet1.com | 50099t.com | 98345i.com | 58588r.com | liuhe.la | www.106295.com | www.cp8004.cc | www.150158.com | 30006n.com | tt67890.com | 2820o.com | 1679n.com | 19990cc.com | www.392477.com | WWW.417163.COM | www.gyfc5.com | www.65707g.com | www.99094v.com | www.666107.com | dingji1188.com | 224940.com | 1413.com | 6868qq.cc | www.298980.com | WWW.119306.COM | WWW.469702.COM | www.383444.com | www.58665g.com | 04666l.com | lll444000.com | b188.wang | www.tk62.com | www.tiqianwang.com | www.045445.com | www.330865.com | www.641477.com | www.966026.com | WWW.554266.COM | WWW.822814.COM | WWW.388752.COM | www.fcyl3.com | www.gczj9.com | WWW.20128.COM | www.hy5504.com | www.ya033.com | www.13czj.com | www.092wy.com | www.070wy.com | www.hr4888.com | WWW.62677.COM | WWW.434210.COM | WWW.634655.COM | WWW.709375.COM | WWW.106299.COM | www.7793e.com | www.66ffs.com | www.le05.com | WWW.708003.COM | WWW.20718.COM | WWW.411124.COM | WWW.499848.COM | WWW.72718.COM | WWW.766425.COM | WWW.137306.COM | WWW.260697.COM | WWW.395023.COM | WWW.388287.COM | WWW.266844.COM | WWW.99070.COM | WWW.322089.COM | WWW.442027.COM | WWW.310276.COM | www.595953.com | www.65707e.com | 28839j.com | 86811v.com | bb0168.com | 6261j.com | js14t.com | 7945ii.com | www.mhcp1.com | www.am8333.com | www.86333e.com | www.50054x.com | WWW.495655.COM | WWW.152621.COM | WWW.815715.COM | www.769526.com | www.774468.com | 441343.com | 4239.com | hg10v.com | 500000598.com | www.4996gx.com | www.pj56i.com | www.ya2019p.com | www.c3956.com | WWW.6460.COM | www.452805.com | 5360qq.com | se679.com | 86811k.com | www.8473n.com | www.6939p.com | www.84499p.com | WWW.252388.COM | WWW.66362.COM | www.35918e.com | www.548888.com | 80878u.com | 61321155.com | www.10999y.com | www.yd7017.com | WWW.144148.COM | WWW.115806.COM | 507655.com | quyoudaren.com | 2381ddd.com | www.665888.com | WWW.173851.COM | WWW.887117.COM | yz5388.com | 22098q.com | www.ck9191.com | www.68682r.com | www.gyfc9.com | WWW.540135.COM | 36518.info | 3405w.com | www.9418cp.com | www.26299i.com | WWW.8096.COM | www.809328.com | 80892a.com | www.cp67775.com | www.66653z.com | WWW.609737.COM | WWW.855885.COM | 3788kk.com | t58955.com | www.a.pj1308.com | WWW.250717.COM | www.876295.com | p1458.com | 20160913.pw | www.db486.com | WWW.168663.COM | www.202423.com | 98345.com | 7k7k.com | www.78680l.com | WWW.104002.COM | www.hcw018.com | 114167.com | www.45598d.com | WWW.272539.COM | WWW.5004.COM | 3788y.com | 2544b6.com | www.76520b.com | WWW.817889.COM | 3467u.com | 339449.net | www.37022.cc | www.802933.com | 00048v.com | 3245k.com | www.86267hh.com | WWW.506652.COM | 2846.vip | www.a81d.cc | www.c137.vip | www.068657.com | 8159uuu.cc | www.7240t.com | WWW.43767.COM | baihu188.com | www.580975.com | WWW.622920.COM | www.39533.com | 58534444.com | www.36166x.com | www.755705.com | 888.vip | www.7920k.com | WWW.476225.COM | 31325h.com | www.4996xa.com | WWW.773543.COM | 51oid.com | pj900.cc | www.66376t.com | www.wcp777888.com | 3775i.com | www.9646w.com | www.938906.com | 2757e.com | www.81608p.com | www.927986.com | 01234ff.com | www.997746.com | www.834918.com | 51133jj.com | www.yh76g.com | www.500713.com | 0808bc.com | www.0014a.com | 85q8.com | www.qmc0066.com | www.bet73v.com | WWW.293770.COM | 5360a.com | www.035647.com | www.399230.com | 22002007.com | www.hm2333.com | ygm6688.com | www.hf9015.com | WWW.133246.COM | 9506a.com | www.993956.com | www.548911.com | 3522oo.com | WWW.730565.COM | 80368yy.com | www.2021b.com | WWW.707245.COM | huangma21.com | www.1764e.com | www.606187.com | g2383.com | WWW.395479.COM | 28839i.com | www.x2788.com | WWW.72108.COM | rr1915.com | www.2350z.com | 7893w18.com | www.509530.com | www.802933.com | 6220p.com | WWW.920091.COM | 0245y.com | www.43818w.com | 9081cc.com | www.2544g6.com | www.700539.com | 500000472.com | WWW.102516.COM | 3662o.com | www.hy5503.com | 6137b.net | www.997263.com | www.23722.com | www.00773c.com | www.930155.com | 6220p.com | WWW.65299.COM | 5080.cc | www.80075h.com | 8cai29.com | www.820032.com | www.349677.com | www.22666.com | www.789199a.com | 8577i.cc | WWW.110470.COM | 44oo8332.com | WWW.342229.COM | 6487qqq.com | WWW.590013.COM | 83138n.com | WWW.740090.COM | 1634z.com | www.cp8016.cc | 7508u.com | www.hd5658.com | 0015mm.com | www.cp3158.com | 80368cc.com | WWW.706216.COM | 5443a.com | WWW.480819.COM | 348301.com | WWW.584778.COM | 0805o.com | WWW.236448.COM | 3404g.cc | WWW.57899.COM | 55967x.com | WWW.770764.COM | z86811.com | WWW.706529.COM | 4116g.com | WWW.363079.COM | puntbee.com | WWW.133179.COM | 3379h.com | WWW.432203.COM | www.jz6999.com | www.210755.com | www.t3410.com | 1591.com | www.26163j.com | 88993e.com | WWW.521402.COM | 7508d.com | WWW.701066.COM | cu28.com | www.376395.com | www.69567.com | www.346911.com | www.30350x.com | js89u.vip | www.8816z.com | y6660.com | WWW.376219.COM | 32689a.net | www.362477.com | www.392229.com | 567pj.com | WWW.732531.COM | 24005.com | www.933661.com | www.40288n.com | 52599f.com | www.fc78.com | 98955f.com | WWW.24112.COM | www.60886.com | 673bet.com | WWW.644830.COM | 2506y.com | www.372839.com | www.hg082.com | 316z.cc | WWW.252923.COM | 320007.com | www.799666a.com | www.88325s.com | hbhcjs.cn | WWW.803660.COM | 6830i.com | www.098303.com | www.61655q.com | yyy40033.com | WWW.276753.COM | www.60886f.com | 7068.com | WWW.132063.COM | www.bwinyz12.com | zhcp47.com | WWW.754308.COM | www.303861.com | 015015.com | WWW.718808.COM | 8287.com | ff555g.com | WWW.338580.COM | www.hh58.com | 123456hh.cc | WWW.921558.COM | www.65066dd.com | 88946000.com | WWW.703707.COM | www.h3065.com | hg9088.com | WWW.286150.COM | www.06820p.com | 749104.com | WWW.549671.COM | www.73990f.com | 3136dd.com | WWW.562977.COM | www.hg6014.com | 84498822.com | www.028082.com | www.aa0090.com | m0083.com | 2506h.com | WWW.805599.COM | www.6687d.com | 01234v.com | www.860705.com | www.78949m.com | bk080.net | www.226556.com | WWW.171678.COM | www.4078y.com | bojue02.com | WWW.358709.COM | www.26163a.com | 8901j.com | 7720o.net | WWW.660067.COM | www.8855gvb.com | 7555.com | 5555724.com | WWW.751310.COM | www.45598q.com | 2222k00.com | www.305388.com | www.8839i.com | www.99c668.com | 88052.net | WWW.884404.COM | www.813016.com | 9949g.com | sxpj62617.com | WWW.649838.COM | www.3775h.com | 4488f.com | qq365d.com | WWW.400649.COM | www.087938.com | 22299ii.com | 4182g.com | WWW.879163.COM | www.68993258.com | 131ccc.net | 9103rr.com | WWW.828974.COM | www.c555.com | 14848888.com | www.106165.com | WWW.536972.COM | www.77731l.com | P36.com | www.423552.com | WWW.100415.COM | www.75600w.com | 68963888.com | 58955.com | www.363991.com | WWW.437855.COM | www.28891b.com | 354152.com | 26668h.com | www.50026e.com | WWW.680081.COM | www.68568f.com | www.5099uu.com | l4212.com | l45638.com | www.642414.com | WWW.866594.COM | www.5856872.com | 7736q.com | lll4255.com | x33v.vip | www.828165.com | WWW.662508.COM | www.498700.com | www.ktmrocks.com | 7555e.com | tt6827.com | www.137165.com | WWW.691162.COM | www.99jtj.com | www.60886s.com | 9103ww.com | 4288vv.com | 33567p.com | www.532918.com | WWW.170582.COM | www.371z.cc | www.5446n.com | 11422l.com | 3513002.com | 4025v.com | 777712.com | WWW.71751.COM | WWW.99793.COM | www.055n.cc | www.0343u.com | www.4446fff.com | 7989w.com | 66501.com | www.567231.com | WWW.302353.COM | WWW.808459.COM | www.89894n.com | www.x32031.com | yabo4000.com | 84494433.com | 3614r.com | www.136052.com | WWW.509558.COM | 5802dd.com | www.331277.com | WWW.330828.COM | hubo8.cc | www.701545.com | WWW.586883.COM | WWW.701556.COM | www.66621l.com | www.86339m.com | www.40hga.com | qycps2.com | dsdh2.com | 22214.com | 98955e.com | k8381.com | 0612j.com | www.577777.com | www.590808.com | WWW.860232.COM | WWW.141655.COM | WWW.456161.COM | WWW.322056.COM | www.089c.cc | www.60007c.com | www.js8888.bet | www.js56773.com | www.4521i.com | www.00772p.com | www.85857s.com | 1624gg.com | 50000944.com | 7508a.com | 7720i.com | 3685j.com | 3467r.com | f4255.com | 8547n.com | 78666a.com | js999js.com | js8028.com | 8006009.com | 1389yy.com | 36502w.com | 26444d.com | 3846m.com | 15g1.net | cp36936.com | 44663885.com | vic0308.com | 2267z.com | 61327744.com | evuyl.com | 1331nn.com | pj3333.com | 99909v.com | 1458.com | hhvip86.com | 1690.com | 55545c.com | 28288dd.com | 26431818.com | gc722.com | www.ssc8871.com | www.b32939.com | www.bwin900.co | www.79095p.com | www.js89w.vip | www.3775f.com | www.cp5800.com | www.32123z.com | www.44kcw.com | WWW.914673.COM | WWW.36603.COM | WWW.181475.COM | WWW.691055.COM | WWW.866638.COM | WWW.855885.COM | www.422626.com | www.333488.com | kjzf224.com | 61366s.com | 55268zf.com | 4556g.com | 7276996.com | 22296vv.com | www.8967v.com | www.9895f.com | www.h90928.com | www.26299k.com | WWW.717310.COM | WWW.557450.COM | WWW.434670.COM | www.820155.com | www.202405.com | www.lhc139.com | hg168q.com | 553955.com | 3559gg.com | 2546i.com | www.4058x.com | www.4102y.com | www.87668c.com | www.flcb1.com | WWW.920091.COM | WWW.726720.COM | www.324177.com | 9645ll.com | 4107r.com | 67888o.cc | 44003885.com | www.820057.com | www.76520d.com | WWW.474621.COM | WWW.211132.COM | www.338082.com | 6830d.com | 925150.com | df8e.com | www.53094444.com | www.sx13997.com | WWW.403663.COM | WWW.584955.COM | www.299494.com | hg168q.com | 3750.com | 58802g.com | www.792083.com | www.1035w.com | WWW.421881.COM | www.715934.com | 31325.com | yhyunnan.vip | zhcp86.com | www.860840.com | www.9356a.com | WWW.156474.COM | www.592113.com | tyc22456.com | 3778jj.com | 1594004.com | www.5856863.com | WWW.788740.COM | WWW.642878.COM | 4195h.com | hg9188.com | www.qmc0055.com | www.55545w.com | WWW.505596.COM | www.776873.com | 228888k.com | hbs107.com | www.5596877.com | www.77802p.com | WWW.69328.COM | www.187396.com | 0989.com | 3844ii.com | www.667700.com | WWW.541232.COM | www.579699.com | 7508f.com | 123456bb.cc | www.614377.com | WWW.540548.COM | www.018581.com | 58588d.com | www.69249.com | www.50024b.com | WWW.900527.COM | 433.com | dz0666.com | www.j37.cc | WWW.740053.COM | www.673519.com | 8988bb.com | mgmvip688.com | www.96386y.com | WWW.403322.COM | 8988f.com | cc00558.com | www.559999.vip | WWW.248298.COM | 129111.com | 66681o.com | www.5886oo.com | www.588vip.xyz | WWW.608790.COM | 58222b.com |