一般融资过程原始股东总股本每股价值(两)股东名单老魏刘哥晓辉天使投资人-A天使投资人-BTotal1,000,000股份数量股份比例股权价值51000051.00%25000025.00%24000024.00%投资额天使投4,000,0001.000股份51000025000024000030000003000000100.00%融资前估值（两）融资后估值（两）10000004000000投资后增加ESOP，VC参与稀释其他融资过程——情形1.1天使投资总股本每股价值(两)股东名单佟掌柜吕秀才老白天使投资人-钱老板ESOPTotal12,5000.200股份数量股份比例股权价值600048.00%1200200016.00%400200016.00%400250020.00%500100.00%2500天使投资后增15,0000.167投资额股份6,0002,0002,0005002,5002,50020002500融资前估值（两）融资后估值（两）投资同时增加ESOP，VC不参与稀释其他融资过程——情形1.2天使投资总股本每股价值(两)股东名单佟掌柜吕秀才老白天使投资人-钱老板其他员工ESOPESOP增发-A轮红树资本-A轮Total15,0000.167股份数量股份比例股权价值(两)投资额6,50043.33%1,0832,20014.67%3672,20014.67%3672,50016.67%4171,1007.33%1835003.33%835000100.00%2500VC投资-21,4280.933股份6,5002,2002,2002,5001,1005001,0715,357融资前估值（两）2,00015,000融资后估值（两）2,50020,000投资前增加ESOP，VC不参与稀释其他融资过程——情形1.3总股本每股价值(美元)股东名单黄马克/CEO刘比尔/CTO周赖利/COO员工持股-A轮增发员工持股-B轮增发A轮投资人1（领投）A轮投资人2（跟投）B轮投资人TotalA轮融资后20,168,0680.297股份数量股份比例股权价值5,000,00024.79%14875003,000,00014.87%8925002,000,0009.92%5950001,764,7068.75%5250005,042,0173,361,34525.00%150000016.67%1000000100%6000000投资额B轮融资前，增20,168,0680.297股份数量3,991,5972,394,9581,596,6391,764,7062,016,8075,042,0173,361,345融资前估值（美元）融资后估值（美元）3,500,0006,000,0003,500,0006,000,000其他融资过程——情形2出让老股而非增发新股天使投资总股本每股价值(两)股东名单佟掌柜吕秀才老白天使投资人-钱老板红树资本-Pre-ATotal12,5000.200股份数量股份比例股权价值600048.00%1200200016.00%400200016.00%400250020.00%500100.00%2500天使投资人出让老股，12,5000.480投资额股份6,0002,0002,0001,00010001,50050006000融资前估值（两）融资后估值（两）其他融资过程——情形3企业估值降低总股本每股价值(美元)股东名单黄马克/CEO刘比尔/CTO周赖利/COO员工持股-A轮增发员工持股-B轮增发B轮融资前20,168,0680.297股份股份比例股权价值3,991,59719.79%11875002,394,95811.87%7125001,596,6397.92%4750001,764,7068.75%5250002,016,80710.00%600000B轮融资56,470,5900.142股份3,991,5972,394,9581,596,6391,764,7062,016,807投资额A轮投资人1（领投）A轮投资人2（跟投）B轮投资人Total5,042,0173,361,34525.00%150000016.67%1000000100%600000014,117,6479,411,7653,000,00021,176,47156,470,590融资前估值（美元）融资后估值（美元）3,500,0006,000,0005,000,0008,000,000天使投资
股份比例股权价值(两)12.75%5100006.25%2500006.00%24000075.00%100.00%30000004000000资后增设ESOP
股份比例股权价值(两)40.00%1,00013.33%33313.33%33316.67%41716.67%417100.00%2500投资-A轮
股份比例股权价值(两)30.33%6,06710.27%2,05310.27%2,05311.67%2,3335.13%1,0272.33%4675.00%1,00025.00%5,000100.00%20000
前，增发ESOP
股份比例股权价值19.79%118750011.87%7125007.92%4750008.75%52500010.00%60000025.00%150000016.67%1000000
100%
6000000
老股，红树资本Pre-A
股份比例股权价值(两)48.00%2,88016.00%96016.00%9608.00%48012.00%720100.00%6000轮融资后
股份比例股权价值7.07%5654764.24%3392862.83%2261903.12%2500003.57%28571425.00%16.67%37.50%62%2000000133333330000005000000