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在上一章内容里面
In the last chapter

我们学习了这个理解互联网时代
we learned about the Internet age

我们继续来了解怎样识别互联网企业
This time we continue to learn how to identify Internet companies

实际上互联网企业它有很多的定义
In fact, Internet companies have a lot of definitions

广义的互联网企业就是指
Broad-based Internet companies refer to enterprises

以计算机的网络技术为基础
that use network technology

利用网络平台提供服务
to provide services based on computer network technology

并因此获得收入的企业
and earn the profit

所以这个广义的互联网企业可以被分为三类
Therefore, this broad Internet enterprise can be divided into three categories

基础层的互联网企业，服务层的互联网企业
the Internet enterprise at the base level，the Internet enterprise at the service layer

和终端层的互联网企业
and the Internet enterprise at the terminal layer

而狭义的这个互联网企业
The narrowly defined Internet enterprise generally refers to the enterprise

一般就是指在互联网上注册了域名，建立网站
that has registered a domain name on the Internet，established a website

利用互联网进行各种商务活动的企业
and uses the Internet to conduct various business activities

也就是我们刚才讲的这个广义互联网企业中的
that is the third level of the generalized Internet enterprise

第三个层面，终端层的互联网企业
that we just talked about the Internet enterprise at the terminal layer

他们直接面向消费者
they are directly consumer-oriented

互联网企业根据它的功能可以分成五类
Internet companies can be divided into five categories

比如说网络服务的提供商
based on their capabilities, such as providers of network services providers

还有互联网内容的提供商，以及互联网的数据中心
of Internet services, providers of Internet content

还有应用基础设施的这个供应商
data centers of the Internet, as well as internet infrastructure suppliers

那么按照我们中国网信中心公布的
According to the industry classification of China's Internet listed companies

中国互联网上市企业的这个行业分类
published by our China Internet Network Center

我们来看一下，那么在我们中国的互联网上市企业中
Let’s take look at it

大概有28.4%是网络游戏类的企业
About 28.4% of our Internet listed companies in China are online game companies

有14.7%是电子商务类的企业
and 14.7% are e-commerce enterprises

有10.8%是文化传媒类的互联网企业
10.8% are Internet companies in the cultural media category

有9.8%左右是互联网金融类的企业
9.8% are Internet finance companies

有5.9%左右是软件工具类的互联网企业
and 5.9% are software Internet companies

那其余的还有30%左右的是
The remaining 30% contain various new categories

各种各样新的门类，新的业态,新的模式的互联网企业
new formats, new models of Internet companies

在互联网企业里面
In the Internet companies

最近几年非常受资本市场青睐的一种叫做独角兽企业
a kind of unicorn company

这个独角兽企业，英文名字叫unicorn
that has been favored by the capital market in recent years

最早是由美国的风投公司Cowboy Venture
This concept was first developed by

它的创始人Aileen Lee提出来的
the founder of American venture capital firm Cowboy Venture, Aileen Lee

那么它最早提这个概念是用独角兽企业这个词来指代
The earliest mention of this concept is used to refer to those business models

那些凭借独有的核心技术或者是颠覆性的商业模式
that rely on unique core technologies or subversive business models

率先深入的发掘新机器中的巨大机遇
They take the lead in exploring new opportunities

在较短的时间内就能成长为市值超过10亿美元
and grow into a company with a market value of

甚至是100亿美元的企业
more than $1 billion or even $10 billion in a short period of time

比如说像Facebook它是在2003年创立
For example, like Facebook, it was founded in 2003

在2012年就在美国上市
and it was listed in the US in 2012

一上市它的市值就突破了千亿美元
When it went public, its market value exceeded 100 billion US dollars

所以像这样的企业就被称之为超级独角兽
so a company like this is called a super unicorn

判断一个企业到底是不是独角兽企业
To judge whether a company is a unicorn enterprise

主要有两个依据，第一个依据就是它的成立的时间
there are two main reasons，The first basis is the time when it was established

一般来说，国际上通用的惯例是把一个企业创立以后
Generally speaking, the common practice in the world is to call a company

六年以内的企业称之为初创企业，英文叫做start-up
within six years after a company is founded, and it is called a start-up

我们定义独角兽企业的时候，其实把这个时间拉的更长
When we define a unicorn company, we actually put this time longer

就是如果一个企业他创业的时间在十年以内
If a company starts his business within ten years

我们就给他一个机会来判断
we will consider it half-qualified

第二个依据就是它的估值
The second basis is its valuation

那么估值主要就是看这个企业的市值是否达到了10亿美元
This reason is mainly to see whether the market value of this enterprise has reached 1 billion US dollars

一个企业要在十年的成长时间之内市值达到10亿美元
It is not easy for a company achieved a market value

但是偏偏在过去几年里面
However, in the past few years

无论是在中国还是在美国都诞生了大量的独角兽企业
a large number of unicorn companies have been born in China and in the United States

成为资本市场最青睐的这种成长型的企业
becoming the most popular growth enterprise in the capital market

根据一份统计报告显示，全球独角兽企业在2013年到2018年期间
According to a statistical report, the United States and China have produced an absolute leading position

美国和中国是在全世界产生了绝对领先的地位
of the global unicorn company between 2013 and 2018 in the world

美国有100多家，中国有接近60家
there are more than 100 in the United States,and nearly 60 in China

这些独角兽企业的行业分布主要分布在
The industry distribution of these unicorn companies is mainly in some areas related to

包括了互联网服务、金融等等相关的一些领域
Internet services, finance, etc.

尤其是互联网服务是独占鳌头
Especially in Internet services

这也显示互联网行业的创业门槛相对来说比较低
This also shows that the Internet industry's entrepreneurial threshold is relatively low

而通过互联网创业的方式去满足各行各业的
and through the Internet entrepreneurship to meet the mismatch

供给和需求之间不匹配的问题
between the supply and demand in all walks of life

也就是我们通常所说的市场痛点的问题
that is, we usually call the problem of market pain points

意味着在这些领域就是有创业的机遇
it means that there are opportunities for entrepreneurship in these areas

互联网创业企业在这些领域比较容易创业成功
Internet startups are more likely to succeed in these areas

比较容易实现增长
and are more likely to achieve growth

根据中国科技部发布的2017年中国独角兽企业发展报告
According to the 2017 China Unicorn Enterprise Development Report

那么截至2017年年底
released by the Ministry of Science and Technology of China

我们中国一共有164家独角兽企业
as of the end of 2017, we have a total of 164 unicorn companies in China

它们总的估值高达6284亿美元
with a total valuation of US$628.4 billion

平均每一家中国独角兽企业的估值就达到了38.3亿美元
and an average value of each Chinese unicorn reached $3.83 billion

但是我们从这个区域分布来看
However, from the perspective of this regional distribution

这164家独角兽企业主要分布在19个城市
these 164 unicorn companies are mainly distributed in 19 cities

其中84%又高度集中地分布在北京上海杭州和深圳
84% of which are highly concentrated in Beijing, Shanghai, Hangzhou and Shenzhen

简称北上杭深
which indicates China's entrepreneurial resources, venture capitals

那说明中国的这个创业资源也好，这些风险投资也好
these startups and the Internet entrepreneurship is

这些创业企业也好，对互联网创业的这个事情
still highly concentrated in

还是高度集中在我们的一线大城市
our first-tier cities

普华永道在今年上半年发布了一个
In the first half of this year, PricewaterhouseCoopers released

普华永道独角兽的CEO调查报告
a report on the CEO of the Unicorn company

通过这个调查报告，我们大概能够了解一下
Through this survey, we can probably understand

中国互联网企业中的独角兽企业在地理空间上的一个分布
the geographical distribution of the unicorn companies in our Chinese Internet companies

通过这个分布，我们也可以非常清晰的发现
Through this report, we can also very clearly find that

就北京上海深圳杭州
Beijing, Shanghai, Shenzhen and Hangzhou

他们吸引了绝大多数的这个独角兽企业
they attracted the vast majority of this unicorn company

其实我们在这里就要停下来问一下
In fact, we have to stop and ask about it

为什么是这些地方？
why are these places?

为什么这些地方这些城市最容易诞生独角兽企业
Why are these cities most likely to have a unicorn

而其他地方到底缺的是什么？
and why other places don’t?

通过对互联网企业
Through the analysis of the industry distribution of Internet companies

尤其是其中独角兽企业的行业分布的分析
especially the unicorn companies

我们至少有两个结论
we have at least two conclusions

第一个就是在快速成长的独角兽企业中
The first is that Internet-related companies dominate

互联网相关的企业独占鳌头
among the fast-growing unicorn companies

虽然在其它的产业中也有相关的分布
Although there are related distributions in other industries

但是因为互联网企业在整个独角兽
we have found the absolute leading position of

无论是全球独角兽还是中国独角兽的行业分布和区间分布中
Internet companies in unicorn companies

我们都发现了互联网企业绝对领先的地位
whether it is the global unicorn or the Chinese unicorn

因此互联网企业的估值就变得日益的重要
Therefore, the valuation of Internet companies has become increasingly important

关于互联网企业的识别的内容
Well，regarding the identification of Internet companies

我们就先到这里
we will stop here