融资后的股权比例及股权价值计算案例.xls

一一般般融融资资过过程程原原始始股股东东天天使使投投资资总股本（股数）10,00012,500(扩股2500股）每股价值(两)0.2000.200股东名单股份数量股份比例股权价值投资额股份股份比例股权价值(两)佟掌柜600060.00%1200600048.00%1200吕秀才200020.00%400200016.00%400老白200020.00%400200016.00%400天使投资人-钱老板500500250020.00%500Total10000100.00%100.00%2000100.00%100.00%25002500融资前估值（两）200020002000融资后估值（两）2500其其他他融融资资过过程程情情形形1.11.1投资后增加ESOP，VC参与稀释天天使使投投资资天天使使投投资资后后增增设设ESOPESOP总股本12,50015,000每股价值(两)0.2000.2000.1670.167股东名单股份数量股份比例股权价值投资额股份股份比例股权价值(两)佟掌柜600048.00%12006,00040.00%1,000吕秀才200016.00%4002,00013.33%333老白200016.00%4002,00013.33%333天使投资人-钱老板250020.00%5005005002,50016.67%417ESOP2,5002,50016.67%417Total100.00%2500100.00%2500融资前估值（两）20002000融资后估值（两）2500其其他他融融资资过过程程情情形形1.21.2投资同时增加ESOP（职工持股），VC不参与稀释天天使使投投资资VCVC投投资资-A-A轮轮总股本15,00021,428每股价值(两)0.1670.1670.9330.933股东名单股份数量股份比例股权价值(两)投资额股份股份比例股权价值(两)佟掌柜6,50043.33%1,0836,50030.33%6,067吕秀才2,20014.67%3672,20010.27%2,053老白2,20014.67%3672,20010.27%2,053天使投资人-钱老板2,50016.67%4172,50011.67%2,333其他员工1,1007.33%1831,1005.13%1,027ESOP（职工持股）5003.33%835002.33%467ESOP增发-A轮1,0715.00%5.00%1,000红树资本-A轮500050005,35725.00%5,000Total100.00%2500100.00%20000融资前估值（两）2,00015,00015,000融资后估值（两）2,50020,000其其他他融融资资过过程程情情形形1.31.3投资前增加ESOP，VC不参与稀释A A轮轮融融资资后后B B轮轮融融资资前前，增增发发ESOPESOP总股本20,168,06820,168,068每股价值(美元)0.2970.297股东名单股份数量股份比例股权价值投资额股份数量股份比例股权价值黄马克/CEO5,000,00024.79%14875003,991,59719.79%1187500刘比尔/CTO3,000,00014.87%8925002,394,95811.87%712500周赖利/COO2,000,0009.92%5950001,596,6397.92%475000员工持股-A轮增发1,764,7068.75%5250001,764,7068.75%525000员工持股-B轮增发2,016,80710.00%10.00%600000A轮投资人1（领投）5,042,01725.00%15000005,042,01725.00%1500000A轮投资人2（跟投）3,361,34516.67%10000003,361,34516.67%1000000B轮投资人Total100%6000000100%6000000融资前估值（美元）3,500,0003,500,000融资后估值（美元）6,000,0006,000,000其其他他融融资资过过程程情情形形2 2出让老股而非增发新股天天使使投投资资天天使使投投资资人人出出让让老老股股，红红树树资资本本Pre-APre-A总股本12,50012,500每股价值(两)0.2000.2000.4800.480股东名单股份数量股份比例股权价值投资额股份股份比例股权价值(两)佟掌柜600048.00%12006,00048.00%2,880吕秀才200016.00%4002,00016.00%960老白200016.00%4002,00016.00%960天使投资人-钱老板250020.00%5001,0001,0008.00%480红树资本-Pre-A100010001,5001,50012.00%720Total100.00%2500100.00%6000融资前估值50005000融资后估值6000其其他他融融资资过过程程情情形形3 3企业估值降低B B轮轮融融资资前前B B轮轮融融资资后后总股本20,168,06856,470,590每股价值(美元)0.2970.2970.1420.142股东名单股份股份比例股权价值投资额股份股份比例股权价值黄马克/CEO3,991,59719.79%11875003,991,5977.07%565476刘比尔/CTO2,394,95811.87%7125002,394,9584.24%339286周赖利/COO1,596,6397.92%4750001,596,6392.83%226190员工持股-A轮增发1,764,7068.75%5250001,764,7063.12%250000员工持股-B轮增发2,016,80710.00%6000002,016,8073.57%285714A轮投资人1（领投）5,042,01725.00%150000014,117,64725.00%25.00%2000000A轮投资人2（跟投）3,361,34516.67%10000009,411,76516.67%16.67%1333333B轮投资人3,000,0003,000,00021,176,47137.50%3000000Total100%600000056,470,59062%5000000融资前估值（美元）3,500,0005,000,0005,000,000融资后估值（美元）6,000,0008,000,000原原始始股股东东天天使使投投资资天天使使投投资资后后增增设设ESOPESOP总股本12,50015,000每股价值(两)0.2000.2000.167股东名单股份比例投资额股份股份比例投资额股份佟掌柜60.00%600048.00%6,000吕秀才20.00%200016.00%2,000老白20.00%200016.00%2,000天使投资人-钱老板500500250020.00%2,500ESOP2,5002,500ESOP增发-A轮其他员工红树资本-A轮红树资本-B轮郭巨侠其他VC-B轮上市增发（高盛及股民）Total100.00%100.00%融资前估值（两）200020002000融资后估值（两）25002500关键点天天使使投投资资后后，ESOPESOP发发放放VCVC投投资资-A-A轮轮（融融资资后后，增增发发ESOPESOP）15,0000.167股份比例 股权价值(两)投资额股份股份比例 股权价值(两)投资额40.00%1,0006,5006,50043.33%1,08313.33%3332,2002,20014.67%36713.33%3332,2002,20014.67%36716.67%4172,50016.67%41716.67%4175005003.33%831,1001,1007.33%183500050002,00015,00015,0002,50020,000A轮投资者要求增发ESOP，但不参与稀释天天使使投投资资后后增增设设ESOPESOPA A轮轮后后，ESOPESOP发发放放21,42821,4280.9330.933股份股份比例 股权价值(两)投资额股份股份比例 股权价值(两)6,50030.33%6,0676,50030.33%6,0672,20010.27%2,0532,20010.27%2,0532,20010.27%2,0532,20010.27%2,0532,50011.67%2,3332,50011.67%2,3335002.33%46700.00%01,0715.00%5.00%1,0001710.80%1601,1005.13%1,027150015007.00%1,4005,35725.00%5,0005,35725.00%5,0001,0001,0004.67%93315,00020,000VCVC投投资资-A-A轮轮（融融资资后后，增增发发ESOPESOP）A轮投资者要求增发ESOP，但不参与稀释VCVC投投资资-B-B轮轮IPOIPO24,42830,4285.0005.00025.00025.000投资额股份股份比例 股权价值(两)投资额股份股份比例 股权价值(两)6,50026.61%32,5006,50021.36%162,5002,2009.01%11,0002,2007.23%55,0002,2009.01%11,0002,2007.23%55,0002,50010.23%12,5002,5008.22%62,5001710.70%8571710.56%4,2851,5006.14%7,5001,5004.93%37,5005,35721.93%26,7855,35717.61%133,925750075001,5006.14%7,5001,5004.93%37,5001,0004.09%5,0001,0003.29%25,000750075001,5006.14%7,5001,5004.93%37,5001500006,0006,00019.72%150,000107,140610,700122,140760,700股权价值(两)原原始始股股东东结结构构A A轮轮融融资资前前，增增发发ESOP-15%ESOP-15%总股本10,000,00011,764,706每股价值(美元)/股东名单股权类型 股份股份比例股权类型 股份股份比例黄马克/CEO普通股5,000,00050.00%普通股5,000,00042.50%刘比尔/CTO普通股3,000,00030.00%普通股3,000,00025.50%周赖利/COO普通股2,000,00020.00%普通股2,000,00017.00%员工持股-A轮增发普通股176470615.00%15.00%员工持股-B轮增发员工持股-C轮增发A轮投资人1（领投）A轮投资人2（跟投）B轮投资人C轮投资人上市新发行股Total10,000,000100.00%11,764,706100.00%融资前估值（美元）融资后估值（美元）关键参数增发员工持股的股份A A轮轮融融资资后后B B轮轮融融资资前前，增增发发ESOP-10%ESOP-10%20,168,06820,168,0680.2970.297股权类型 投资额（美元）股份股份比例股权类型投资额（美元）股份普通股5,000,00024.79%普通股3,991,597普通股3,000,00014.87%普通股2,394,958普通股2,000,0009.92%普通股1,596,639普通股1,764,7068.75%普通股1,764,706普通股2,016,807优先股1,500,0001,500,0005,042,01725.00%优先股5,042,017优先股1,000,0001,000,0003,361,34516.67%优先股3,361,34520,168,068100.00%20,168,0683,500,0003,500,0003,500,0006,000,0006,000,000融资额、融资前估值增发员工持股的股份，A轮投资人不参与稀释B B轮轮融融资资后后C C轮轮融融资资前前-增增发发ESOP5%ESOP5%56,470,5900.142股份比例股权类型 投资额股份股份比例股权类型 投资额19.79%普通股3,991,5977.07%普通股11.87%普通股2,394,9584.24%普通股7.92%普通股1,596,6392.83%普通股8.75%普通股1,764,7063.12%普通股10.00%10.00%普通股2,016,8073.57%普通股普通股25.00%优先股（次级）14,117,64725.00%优先股（次级）16.67%优先股（次级）9,411,76516.67%优先股（次级）优先股3,000,0003,000,00021,176,47137.50%优先股100.00%56,470,590100.00%5,000,0005,000,0005,000,0008,000,0008,000,000融资额、融资前估值、A轮投资人不参与稀释增发员工持股的股份，A、B轮投资人参与稀释增发员工持股的股份，A轮投资人不参与稀释C C轮轮融融资资后后IPOIPO59,442,72696,594,4300.1350.807股份股份比例股权类型 投资额股份股份比例股权类型3,991,5976.72%普通股3,991,5974.13%普通股2,394,9584.03%普通股2,394,9582.48%普通股1,596,6392.69%普通股1,596,6391.65%普通股1,764,7062.97%普通股1,764,7061.83%普通股2,016,8073.39%普通股2,016,8072.09%普通股29721365%5%普通股2,972,1363.08%普通股14,117,64723.75%优先股（次级）14,117,64714.62%普通股9,411,76515.83%优先股（次级）9,411,7659.74%普通股21,176,47135.63%优先股21,176,47121.92%普通股优先股30,000,00030,000,00037,151,70438.46%普通股普通股59,442,726100.00%96,594,430100.00%48,000,00048,000,00078,000,000融资额、融资前估值、A、B轮投资人参与稀释增发股份比例、每股价格C C轮轮融融资资前前-增增发发ESOP5%ESOP5%增发员工持股的股份，A、B轮投资人参与稀释120,743,0378.0008.000投资额股份股份比例3,991,5973.31%2,394,9581.98%1,596,6391.32%1,764,7061.46%2,016,8071.67%2,972,1362.46%14,117,64711.69%9,411,7657.79%21,176,47117.54%37,151,70430.77%193,188,86024,148,60720.00%20.00%120,743,037100.00%772,755,438965,944,298IPOIPO增发股份比例、每股价格