VC抠门?只因眼球效益不再,用户规模要求提升

你创办的企业需要融资吗?别再把你“傲人”的在线人数放到融资PPT中去了,风投们可能早就不关注这些所谓的“眼球效应”了。最近一段时间,风投公司更愿意听投资者讲他们盈利的故事而不是百万用户的故事

创业咨询网站Venture Hacks的创始人Naval Ravikant解释说:“许多创业企业都拥有大量的用户,但是许多企业都还没赚钱,因此投资者现在开始重新考虑创业者流量和盈利的问题。许多在Facebook上排名靠前的应用程序拥有6000万,甚至1亿用户,然而有几个是赚钱的?就连Facebook自身的盈利水平都没有达到华尔街的预期。”

 

盈利法则

最新一批进入10亿美元俱乐部的企业有Airbnb、GitHub、Dropbox等,它们都拥有大量的用户,关键是这些用户还能给他们带来大量的利润。

另外,最近一些没有大量用户的企业也得到了投资者的青睐。“像Uber这种租车应用虽然用户数量不会很多,但是有不少老顾客,所以利润率也不会很低。”

 

500万用户?2000万是起点!

风投现在投资创业企业的起点越来越高了。现在的1000万用户只相当于以前的100万用户。几年之后,要想融资,用户数量低于1亿,VC可能根本就不会看一眼。

“Instagram只有6个人就获得了8000万用户。如此惊人的效率,让VC们不得不调整他们的投资策略。因为只有用户数量达到一定高度之后才能获得形成经济效益,用户数量低可能会导致数量波动,不利于盈利。”

“Autodesk花6000万收购Socialcam。Socialcam那么多用户,给Autodesk带来投资回报了吗?眼球效益,或者说大量用户可能提高企业的融资评价水平,但是从长远发展来看,VC们会发现所谓的“千万用户”根本就带不来多少利润。”

许多拥有大量用户的免费互联网企业盈利水平很低,这也是投资者逐渐对用户数量失去兴趣的原因之一。

 

早期盈利水平才是决定VC是否投资的关键

越来越多的创业者开始拿早期盈利情况来吸引VC投资。

Ravikant说:“原因有二:1、早期盈利水平重要性超过用户数量。如果产品并不是市场热门,500万用户几乎很难达到。如果你早期就已经获得了少量客户,每月还能带来不少收益,VC肯定更看重你的盈利水平。2、许多企业虽然用户树立不多,但是客户群固定,也非常受VC欢迎。”

消费者如果不消费,那就只是一个概念。

 

文章来源:ReadWriteWeb


关系恒久远,一开永流传!——#开关系http://KaiGuanXi.com

 

Why Eyeballs No Longer Matter For Startups

Need funding for your startup? Don’t load up your PowerPoint with nifty charts showing all the users your online service has grabbed. Venture capitalists are no longer impressed. These days, investors want to hear about the revenue you’re generating, not the traffic.

“There have been a lot of companies that had a lot of users and didn’t make as much money as they should have, so investors are reevaluating,” explains Naval Ravikant, founder of the startup advice site Venture Hacks and the investor-entrepreneur matchmaking site AngelList. “This became most apparent in the Facebook app craze, when lot of top-ranked Facebook apps showed 60 million or 100 million users but ended up being worth almost nothing. Even Facebook hasn’t been able to monetize as well as Wall Street was expecting.”

Revenue Rules

The new generation of billion-dollar internet companies is built on revenue. Businesses likeAirbnbGitHub and Dropbox all have plenty of users. But much more important, those users generate serious cash flow.

The flipside is that even companies without massive traffic can now attract intense investor interest – if they have real revenue. “A company like Uber doesn’t have a ton of users but they’re making gobs and gobs of money with their high-ticket mobile car service,” Ravikant says. “They have huge margins and high-frequency repeat business.”

You Now Need 20 Million Eyeballs

Users do still figure into the equation when VCs evaluate an Internet startup. But the bar keeps rising. The new thinking, as outlined in a recent blog post by Chris Dixon: 10 million is the new 1 million. And a few years from now the benchmark for consumer Iinternet startups could be 100 million.

“Think about it,” Ravikant said. “Instagram reached 80 million users with only six employees. User stats can get blown out very quickly. But VCs are starting to adjust. There are a number of companies that have come along recently that have generated huge user-number spikes – but either those numbers are not sustainable or they’re not reflective of engagement underneath or they’re not monetizable.”

Take Socialcam, for example. It has a lot of users but can those folks be monetized? Autodesk, which paid $60 million for the video sharing app, will have to figure out the answer. “Eyeballs will always be a proxy stat to get to valuation,” predicts Ravikant, who founded Epinions and [Vast](http://www.vast.com/. “But if you give it a long enough timeline, people will learn to game proxy stats. But they can’t game profits.”

Turns out that many of the highest-usage consumer Internet companies also have the thinnest and least monetizable engagement, which is a big disincentive for investors.

Early Revenue Matters Most

So a lot of Internet startup founders now emphasize early revenue when they pitch VCs.

“That’s for two reasons,” Ravikant says. “First, you can move the needle more on early revenue than you can on early users. If you have a product that’s not getting picked up by the marketplace, getting to 5 million users can seem like an impossible problem. But if, say, you need $20,000 a month in revenue, you can do that just by picking up four or five big customers. Second, a lot of companies have such a low burn rate that if you can get revenue quickly you can get to break-even and sustain yourself much longer. You can do $10,000 in revenue with just four or five really impassioned customers.”

Customers… what a concept!

 

Eyeball image courtesy of Shutterstock.

 


关系恒久远,一开永流传!——#开关系http://KaiGuanXi.com

VC抠门?只因眼球效益不再,用户规模要求提升 – TECH2IPO创见.



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