Tell us a little bit about self-publishing from venture capital investments

Then most of the self-media should be unsuitable for venture capital investment. A suitable self-published media should at least meet one characteristic, that is, not only want to be a self-published media, but also want to go beyond the media itself to do something bigger. Its business model has the possibility of surpassing the existing model of traditional media - that is to say, not only rely on advertising to make money, so only need to try to external financing. Otherwise rely on advertising revenue from the media can also live well, do not need financing. Of course, there are a small number of industry information media because of its strategic value to obtain financing, but this part of the proportion will be relatively small.

There are three characteristics of the self-media project, the first is that on the surface seems to have a very low threshold. An individual with the ability to create content can create a self-media number and harvest tens of thousands or even more fans, and there are countless cases of this. Many of the current big numbers have very small teams. The second is the ability to generate cash flow very early on. Of course, the main thing is advertising revenue. Some self-media numbers even started to make a profit within a few months of their creation, which is completely different from other projects on the Internet in the past, such as e-commerce, O2O, etc. The third is that it is very difficult to eventually form a large commercial value. There is nothing good in the world, the low threshold of entrepreneurship, cash flow formation early, are good, but then brought about is that the vast majority of self-media number of commercialization, must be the lack of strength, advertising revenue ceiling is very obvious, and then began to try to e-commerce, as well as other, but now the self-media team, at least 99% do not have the ability to e-commerce. Then, ultimately, these self-media investors must accept "alive, but can not exit" such an embarrassing state.

There are two problems facing the current self media. The first is the decline of the big platform dividend. Self-media development is often closely related to the rise of the platform, the rise of a platform is accompanied by the rise of a bunch of self-media. Now the microblogging dividend has long since passed, and the dividend of the WeChat platform is also disappearing. A user is often concerned about dozens or even hundreds of public numbers, these public numbers must be on the user's limited time to fight fiercely, in general, the share of reading time is certainly less and less. And the opportunity for the next big platform to rise is not yet known where. The second is the prominence of the commercialization bottleneck. At the beginning of the birth of the self media, many people are not very clear about its possible future direction. But a few years have passed, at present, the content of the media can go to the community, and then go to the e-commerce, few and far between, like logical thinking, has been a top, and logical thinking in the future and then bigger space I'm afraid that is also still limited. Self-media business, now it seems that annual income of several hundred million has been exaggerated, it is difficult to become a giant enterprise, so the attraction of venture capital is limited, I judge that the future of venture capital institutions will be more cautious investment in the media, which is also considered a disadvantage to the media.

In the future, most of the self-media will return to its essence, that is, the content media, and its valuation should only reflect the valuation of a content media should be, rather than bubble to the valuation of e-commerce, social, O2O and other modes. The valuation of the content media, that is, should be analogous to a traditional magazine valuation method, can be high, but not too high. It is reasonable to make an honest magazine and earn some advertising money. A very small part of the media will be really big, towards the community, e-commerce, video manufacturing companies and even film and television companies, are possible, but this part of the percentage will be very, very little. ,