Why is Station B worth $10 billion? Ten thousand words to explore the eyes of investors after 90 B station
The following articles are derived from Shunwei Capital , the author shuns the capital yuyu
Shun is a total of US$2.96 billion for the four phases of capital management and RMB 3 billion for the third phase. Focus on the Internet, the high-tech industry and the Internet and traditional industry combined with the changes brought about by the investment in start-ups and long-term high-quality start-ups. We want to work with entrepreneurs to create great and respectable businesses.
Bongo recommends:In mid-2019, Station B Chairman Chen Rui announced an internal target: "Station B will have a market value of $10 billion within three years".Less than a year earlier, on April 17, 2020, Beep's shares closed at $29.00, with a market capitalization of $10.02 billion.Was founded.11 years later, Station BIt's not the little broken station of the year anymore.
Source . . Shun capital (ID:shunweicapital）
Author . . Shun for the capital, Yu Yuyu, pay attention to large consumption and enterprise services
Beep Mile, born in 2009, is affectionately known by users as Station B or "Little Break."
On April 17, 2020, Beep's shares closed at $29.00, with a market capitalization of $10.02 billion. Station B finally achieved a market value of $10 billion in its 11th year of service, and is no longer the "small break".
The stock movements of the past year
Interestingly, Station B Chairman Chen Rui announced an internal target in mid-2019: "Station B will have a market capitalization of $10 billion within three years". I didn't expect the time to pass less than a year, the total small goal has been achieved.
We compared similar companies on the U.S. stock, with Station B contributing $52 per MAU, roughly the same as its peers, and each MAU contributing a market value of $518, significantly more than its peers. The share price reflects the future value of the company, and the market value of Station B's 10 billion reflects the strong outlook of the majority of investors on the future of Station B.
So why is Station B worth $10 billion? This article will attempt to explore the following:
Why has B-Station's share price continued to climb recently?
B station or secondary niche platform?
Where is the ceiling of station B user size?
B What do you rely on to make money? How much growth potential is there in the future?
Will Station B be China's YouTube?
Why has Station B's share price continued to climb recently?
Recently watched a play, on station B to see the surrounding tidbits and big curry review video
Go skiing on weekends and learn in advance how to change the edge of a single board
Recently study station B to see the B station UP master's professional reviews of each video site
68% of young, under-25 users
More students, 52% of students
High education, university and above accounted for 60% of the proportion
More developed regions, 52% of first- and second-tier cities
At present, the ARPPU of B-station live broadcast is low, which is mainly due to the lack of early operation, the future through a richer operational activities, there is still a lot of room for improvement;
3 of the top 10 anchors in Station B are virtual anchors, which is unique to Station B, and the continued increase in the heat of virtual idols in the future will be good for Station B;
B station has a large number of high-quality game UP master, if the operation is right, they are expected to be like the fast hand "old iron" as a high-quality anchor;
Fish and tiger tooth revenues both grew at a high rate of more than 70% last year, indicating that users' overall willingness to pay is growing rapidly.
From the fish fighting, tiger teeth nearly three years of MAU growth rate, the game live market user growth is close to saturation, it is difficult to have new hard-core game users caught by B station, B station is more gladiator fish, tiger teeth users, as well as the development of some mild (pay willingness may also be low) game users; Even on the game-streaming platform, live entertainment is an important source of cash, and live entertainment is different from the B-station atmosphere, forcing the introduction of possible water and soil (you can imagine how out of place the girl singing and the fun-hunting community atmosphere of Station B); Fighting fish, tiger teeth in the hard core game for many years, fast hand although the number of live game users grew faster, but the realization is still weak, B station may encounter the same problem.
Game business:Agent game will still be the main component of the game business in the future, B station's community atmosphere makes it a unique advantage in the secondary game agent, but in the big game track is still difficult to compete with Tencent, NetEase. It is expected that the future will grow steadily by 15-20% per year with the secondary game market.
Live and value-added services:Live streaming business is the focus of B station bet on the sector, opportunities and challenges coexist, if successful, live broadcast will have a larger room for growth, value-added services business considering that most of the content of B station is difficult to be divided into member paid to watch the partition, so the future growth space will not be too large, but China's users in the last two years for Internet virtual services to pay faster, we believe that in the next year or two, this sector will still maintain a high growth rate.
Advertising:B station performance advertising is still in the early stages, the future at least 3-5 times the growth space, brand advertising has been relatively mature, but young people gathered B station will be the preferred advertising position for many brands wishing to develop younger, so the next year or two will still have a good growth rate.
E-commerce business:Tide play hand-held market is relatively blank, the market growth rate is relatively fast, at present B station this business is still in the early stages, is expected to have good growth in the next three to five years.
Content audience is wide, the potential user group is large;
Middle-aged and elderly users have high tolerance for advertising, and the waterfall stream of video in this page directly play, no need to jump to the new page, so that the advertising realization efficiency is higher, the corresponding creator's incentive is also higher;
Content distribution is centered and more friendly to new people.
The user is young, the future growth potential is great;
Community atmosphere is good, unique and new video is more fire-prone, easy to attract high-quality content creators;
The algorithm is relatively centric, and the head UP master gets a stable exposure, which may make it easier for the head UP master to collect traffic.
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