High value is no longer the prospect of new technology companies are questioned

In recent years, the rapid development of science and technology has created many new startups to become the new darlings of investors and venture capital funds, and they are responsive to their financial needs, in order to hope that they can fly to the phoenix as soon as expected. A Google or Facebook. However, the glory of these companies seems to be gradually fading. According to the Wall Street Journal (WSJ), at the recent World Economic Forum in Davos, the future of the startup technology company became one of the focus of discussion. Many experts and professional investors said that the upsurge caused by the new technology companies in the past few years may be slowly turning into a cold winter. The most obvious evidence is that some companies that were originally invited by investors, especially those with a valuation of more than 10 The so-called unicorns of billions of dollars have fallen significantly, and funding has become increasingly difficult. Nathan Blecharczyk, co-founder of Airbnb, the world's leading homestay rental website, and the company's chief technology officer, said that there are already too many unicorn companies, and it is obvious that some of them will not survive in the future. With the increasing popularity of Internet and mobile devices, related applications and service functions have become more and more powerful. Investors have even called it the fourth industrial revolution. They are counting on the most promising startups. Can win in the future market, and with a lot of funds, their value is rising. This glory has indeed continued for several years, but the situation has clearly changed from August 2015. At that time, the mainland stock market plagued the global financial market, and various technology stocks could not escape the fate of the decline. Analysts said that in fact, the original investors had doubts about whether the new technology company was really worth such a high price, and a stock market disaster. It is to make them wake up from their dreams. Devin Wenig, CEO of eBay, the leader of the racquet industry, pointed out that the stock market crash in August 2015 was a turning point. From then on, the financing environment of Xinchuang Technology Co., Ltd. can be said to be completely incomparable with the previous one. Of course, not every new technology company has been invaded by investors. The high price of Uber, the Internet service platform, is still standing still, but many others have already fallen into the financing difficulties, such as the landmark community. The last sale price of the website Foursquare was only half of what it was two years ago. Fidelity recently decided to dismiss the stock value of Snapchat, the unlisted instant messaging service provider, by up to 25%, meaning that Snapchat's share price may have been seriously overvalued. Dow Jones VentureSource's statistics show that the median valuation of the new technology company in the fourth quarter of 2015 was $ 28.75 million, nearly one-third less than the third quarter, the lowest level since the beginning of 2014. Jeff Schumacher, chief executive of BCG Digital Ventures, a venture capital fund, said that venture capitalists have now placed cash retention as their top priority, and that the new technology company's financial aid gate can be said to have been closed. On the other hand, the stock price of Xinchuang Technology Co., Ltd., which was just listed soon, is also underperforming. Statistics show that there were only 31 such companies listed on the New York Stock Exchange (NYSE) and the Nasdaq (Nasdaq) in 2015, which was 46% less than in 2014, and their stocks were initially publicly traded ( The IPO) raised an average of only $400 million, less than half of what it was in 2014. Thomas Farley, president of the New York Stock Exchange, said that the fourth quarter of 2015 was the worst season for the IPO of the technology industry in the past 10 years. In the case of a poor supply of funds, the situation in early 2016 may only be worse. Analysts believe that although the technology industry is still not in the same level as the Internet bubble crisis 15 years ago, it is a fact that the value is overvalued. It is now equal to entering the adjustment period and returning them to their due value. It is worth noting that Such adjustments may affect the ability of their employees to work and attract talent.