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1、AbstractInformationTechnologyhavereformedtraditionalindustries,promptingtheinternetcompaniesaworldwideattention.Severalventure‐backedinternetcompanieshaveachievedrapidandextremevaluationmark‐ups.WellperformedinternetcompanyhaveconsequentlyseektheirIPOatoverseascapitalmarkets,i
2、mprovingbusinesspublicityimagesaswellasgatheringcapitalforfurtherdevelopment.Thesuccessoftheseinternetcompaniesarefromtheiraggressivefinancingstrategycooperatingwithinvestmentinstitutions,whichhelpedthemmaintainedaleadingpositionincompetition.Meanwhile,therealeconomyandthecapi
3、talmarkethadachievedawin‐winsituation,helpingtheinternetindustrybecamethemostimportanteconomicgrowthpoint.Thispaperfocusontheequityfinanceofinternetcompaniesfromtheperspectiveofthecorporatelifecycle,whichisdividedintophasestart‐up,phasegrowingandphaseprimeingeneral.Firstly,thi
4、spapersummarizesthecharacteristicsofinternetcompaniesandequityfinance,alongwithvaluationtheory.Secondly,basedonthefinancingcasesebothfordomesticandoversea’sinternetcompaniesin2014‐2015,thispaperanalyzestheirvaluation,equityarrangementaswellasothertermsforphasestart‐upandphaseg
5、rowing.Thirdly,thepapercomparesthedifferenceofIPOfinancialcriteriabetweenChinacapitalmarketandoverseacapitalmarkets,(USparticularly),thendiscussesthenecessityoflistingabroadfromtheperspectivebothoftheinternetcompaniesandtheinvestmentinstitutionswithinphaseprime.Finally,basedon
6、thepreviousdiscussion,thispaperpresentsthereflectionofinternetcompaniesinequityfinance,reachesconclusionsandrecommendations.KeyWords:internetcompanies,equityfinance,companylifecycle,abroadlisting2目录互联网企业股权融资研究....................................................................
7、...........................................1目录..............................................................................................................................................3第一章绪论...................................................................................
8、................................................5一、选题目的及意义...