Nan Li and Wang Song were the hosts, welcoming guests from afar at a local specialty restaurant next to the hotel.
Wei Tao did not refuse. After the meal, Zhu Xichun took out his luggage and gave several high-quality ginseng and deer antlers as gifts to the couple, and they did not refuse.
As a reborn person, it would be a lie to say that I wasn’t nervous when I met an Internet boss who I could only meet in interviews.
Bao Xiqian's tool role, the second effective one, makes a brilliant debut.
Her first effective value is that Wei Tao combined the two contact information provided by Nanli and chose Bao Xiqian to be the tool. Who asked you to follow me? I have long been thinking about whether I can borrow you. potential.
Bao Xiqian actually called and contacted a few people. After a lot of twists and turns, she found a few people. The relationship was strong enough to allow both Jin Shanlei and Li Xueling to come forward to meet Wei Tao.
Taking Bao Xiqian there, Wei Tao was a little excited when he saw these two people, but the so-called nervousness was not there in his imagination. No matter how awesome you are, you are not the Internet boss now.
"My girlfriend thinks your project is pretty good, so I'm here."
Tool Man No. 2 is online, Guan Jinyue.
Wei Tao put on a disguise for himself, a nouveau riche boyfriend, to cover up the truth he knew about Li Xueliang's entrepreneurial project.
Guan Jinyue really doesn't hold back. Regarding Li Xueling's Duowan Game Network, she has produced much more information than Wei Tao, and even Nan Li is not as good as her. If she really wants to talk about it, she may not necessarily agree with it now, but Under the premise that Wei Tao had already given the answer in advance, and asked her to follow the answer backwards, her confidence in this project would easily match Li Xueling's.
Jin Shanlei paid more attention to Bao Xiqian. He knew that the people who came this time were family members of important people in Yanjing. It was not that Jin Shanlei had never come into contact with such people. He used his own true inner thoughts to keep a distance, even if there were Try not to have too in-depth contact, but you can't live without friends in this field. Otherwise, if you encounter some unscrupulous things, you won't even have the channel to find someone to talk to and reconcile.
Li Xueliang needed investment, and Jin Shanlei also thought that if someone shared the investment, he would be less stressed, but before that, there must be a decisive premise.
Can't point fingers.
"We can release our voting rights."
As soon as Guan Jinyue said this, there seemed to be no problem. Someone came to the door to give money. He had no intention of dictating the project, and he had no intention of intervening in the development of the project. The most important thing was solved, and the next step is detail.
How much share can Li Xueliang give?
Is there any corresponding guarantee for this share?
After all, it can be regarded as the creative or seed round stage now, and most of the money that needs to be raised is used for project-rich technical support and a small amount of promotion. Someone is interested in entering the market with real money, and there is no lack of investment. Naturally, they consider it. If they are good investors, they will naturally be happy to let the other party enter the market and share each other's pressure.
No one can guarantee that a project will be 100% successful until it is truly tested by the market. Those who are successful will say, when I was working on this project, I was full of confidence. I will definitely be able to achieve the same scale as in China. exist.
That's because he is successful, so many things in his success speeches or interviews have been processed. Think about Mahuateng back then, and almost sold Penguin for 1 million. So many Internet bosses and investors have I'm not optimistic about such a small software that releases information from @Jingjingshuge. Compared with email, this thing has no advantages at all. Does it have any existing value?
One million was not a small amount in the environment at that time, but it was by no means too much. No one even invested in this. This shows that in the field of the Internet, being discerning is actually not as good as casting a wide net, but is really big. Investors who are bullish can only achieve investment success by casting a wide net and having a keen eye.
Moreover, the entire strategic development policy of Duowan Game Network has just been adjusted under Jin Shanlei's persuasion, which also makes the entire project more like a carrier rather than a new product that is completely separated from the original Internet content. Such a thing has There is no future, for sure. But is there the kind of capital that would make founders simply arrogant?
Obviously not.
When it comes to investment, no one will really remain indifferent. The investment limit Jinshan Lei set for himself is obviously far lower than the current investment required by Duowan Game Network. Now that an investor has come out, he has not even discussed the project with the team in more detail and asked Li Xueliang to prepare A series of explanations were useless, and he also offered to give voting rights to the future helmsman of the company.
With Bao Xiqian's identity, the young and energetic strength of a small team like Jinyue Nanli and Wang Song, and a financial backer like Wei Tao, it seems that this combination is of higher quality than those mature capital. Moreover, Duowan currently does not have the ability to attract the love of big capital.
Li Xueliang looked at Jin Shanlei. After the other party proposed to hand over the voting rights to the management, there would be no problem on his side. He would leave it to his eldest brother Jinshan Lei. If you want to vote fully, I will definitely give you the priority; If you feel that one person invests too much money, can the investor in front of us be our choice?
………………
Three days later, Wei Tao shook hands with Li Xueling and Jin Shanlei. After three days of consultation and research, the cooperation between them was declared complete.
Wei Tao invested US$480,000, occupying 16% of Duowan shares.
Jinshan Lei invested US$750,000, occupying 25% of Duowan’s shares.
The valuation of the entire Duowan has not been tested by the market, and under this premise, Jinshan Lei’s previous willing investment of one million US dollars has become the standard of measurement.
After the cooperation intention was made, I thought Wei Tao would make a fuss about this. After all, Duowan Game Network currently does not have an accurate valuation position in the market. The entire Li Xueliang team also thought that they would bargain, but in the end, they did not. The other party showed full confidence - confidence in Duowen's future.
"I can give you what you want, but I hope that I can also get corresponding rewards."
First, with Guan Jinyue, Nan Li and others, Wei Tao put forward his own idea. I could be taken advantage of for the time being, but I also needed to fight for the favorable conditions in the future.
To talk about my shares not accepting dilution or similar conditions is pure nonsense. Any entrepreneur will be full of confidence in the future of his project and will feel that he is a pioneer leading the times. Who is second? He is going to be a billionaire in the future. How can investors be allowed to use a little money to carry out "permanent buyout"?
Requires a preferential value from the market valuation when raising capital before going public.
This request is completely negotiable.
If the A-round financing is carried out, Duowan Game Network is valued at 10 million, and the corresponding proportion of investment amount will be invested based on this valuation ratio. Almost all the original shareholders have the right to lead the investment and have priority to follow the investment. They need to follow the new Valuation value, make corresponding additional capital investment, otherwise you will have to bear the normal dilution of your own shares by financing.
This request made by Wei Tao can be regarded as a kind of "protection" for investors in the early stages of starting a business.
The market valuation is 10 million. For the initial investors and shareholders, negotiating a ratio, for example, a 10% preferential price, if Wei Tao makes a follow-up investment in order to keep his current share of the shares held, is To replenish funds based on the valuation of US$9 million.
For every financing, after valuation, the company will only use a small part of its equity for financing. Therefore, it will use this part of the equity to dilute the shares of the original shareholders, and use 10% of the equity for financing. Wei Tao needs to invest For 16% of this 10%, if you want to maintain your original shares, you need to invest the amount required for this part. 10% of 10 million is 1 million, and 16% of it is 160,000. After this price discount, calculated based on 10% of 9 million, it is 900,000, of which 16% is 144,000.
What we are talking about is the ratio of this discount.
Each increase in valuation is also the income from this investment. If you do not continue to invest, your shareholding ratio will continue to be reduced, but this amount will not be very scary. It will become less and less as time goes by. The company will be valuable. For financing The desire is not that big anymore. Before the IPO, the last one or two financings were probably ultra-high valuations. By then the product had already been formed. Basically, such financing almost benchmarked the true value of the project. It is very likely that With a few points, you can get tens of millions.
Guan Jinyue and Nan Li talked to Wei Tao for a day, and he felt that he was out of ideas. There were various means of protection such as increasing capital and expanding shares, and the game between capital and the company in the entire development financing and even before the IPO. Diverse. He borrowed the mature experiences he saw on the Internet before he was reborn, thinking that he could get away with it once and for all. In fact, it was just a little bit of image points for himself. Don't make people think you are a liar. The real value you can gain is not that big. .
The two of them didn't know everything, but just these little bits and pieces were enough to build a picture in Wei Tao's mind. To do business and invest, you need a truly professional team and professional legal advisors. From the cooperation process to the signing of the contract, all pitfalls need to be avoided. He thought that a favorable valuation was enough, but he did not know that there were various ways to make his advantage meaningless in the end, and to protect more Shares and interests in the company.
If one person, or one voice and one family, wants to take advantage of a system, it is almost impossible in a relatively fair business system.
You are a smart person, and there are no fools outside. When it comes to personal interests, everyone will be careful and careful, and gather all the think tanks and IQs around you. Unless someone like Bao Xiqian, or a behemoth industry giant, can tilt the two ends of the scale a little, otherwise, even if you have determined that you are the one taking advantage now, if you really develop over time, you will It will become an inducement for you to have bad relations with other investors and even Li Xueling and others.
Even if it is not reflected in your true attitude, you will do everything you can to use reasonable and legal business operations to level your "privilege" in terms of money and power to the same level as all shareholders.
The next three rounds of financing will ensure the value of this favorable valuation.
Li Xueling and Jin Shanlei have also calculated the promises made by both parties to Wei Tao. Calculating the three rounds based on the normal development of the company, Li Xueliang may not be familiar with it, but Jin Shanlei is very familiar with it. If everything develops smoothly, the company's size and financing amount by the C round, even if Wei Tao takes advantage of it, 10 %, a share with a favorable valuation will not form a figure that will make other shareholders angry, and it is still acceptable. The money obtained from the overall financing of the company will not make a big difference.
Jinshan Lei also got an advantage by promoting this matter, but he didn't think much about taking advantage of "Duo Wan". He didn't mention it before because of personal relationships.
Wei Tao's entry gave Jin Shanlei some advantages. When he was preparing to invest 1 million US dollars, the two parties had not yet started testing. Wei Tao's entry allowed the proportion of shares that was initially mixed with some emotional elements to be divided. In place, rationalize directly to open negotiations. Wei Tao still wanted to get more, but the transfer of 40% of the equity obviously reached the bottom line of Li Xueliang and other founder teams. There was even a day in between, and the other party planned to push down, implicitly indicating that they would take less. A little investment also reduces the chance of equity changing hands.
In formal negotiations, there will be no favors. The investment is all optimistic. In the early stage, we must take more and occupy more. Guan Jinyue, the spokesperson of Wei Tao, said that initially we planned to follow Jinshan Lei and take 49% together.
The current "Duowan", to be honest, really has no valuation. It can be regarded as a dream investment given to the other party by Jinshan Lei. The outside world recognizes "Duoyuan", but they can't give such a high value. Even if they want to give it, they still need to really develop it for a period of time and produce some results, such as traffic, such as registered users. Now when we need to spend money the most, having such investors who are optimistic about the future come into the market and know how to take a few steps back is equivalent to providing real start-up capital for their dreams. No matter how confident they are, the actual operation has not yet been completed. It turned out that more than one million US dollars was real money. After discussion, we finally accepted such conditions and reached cooperation. There is no difference between 40% and 41%. Guan Jinyue knows how optimistic Wei Tao is about this project, and it would be great if he can invest more. 17% and 18%, she tested it out, and it was obvious that 1 million was enough. She didn't want to accept any more, at least for the time being, she didn't want to accept it in exchange for equity.
In view of the fate of both being investors, and the "humbly asking for advice" that Wei Tao, a nouveau rich country bumpkin, was suddenly attracted to the investment industry, it was quite like a bad student who suddenly learned something and wanted to study hard.
Everyone likes to be a teacher, especially before the core secrets are involved. Jinshan Lei is also happy to have a young investor in front of him who is open-minded and accepts his way of thinking.
Although Wei Tao does not have the insight and professional talents of Li Xueliang, he is still young and has already achieved some achievements. As an investor of the same level, once such a person shows his humility to be taught, he will be greatly attracted to the teacher. If someone just sits there and listens carefully, it is enough to make a person who is a good teacher keep saying something.
Originally, it was planned to ask Nan Li to help find a big law firm in Yangcheng to be responsible for the contract signing and related processes. Bao Xiqian sent Buddha to Xixi, made a few calls, and a big law firm came. Practitioners and the team around them are very professional. It seems that they have dealt with this kind of thing more than once. They behaved extremely professionally from beginning to end, making the contract signing process extremely smooth for both parties.
In fact, there is no lawyer of this level, so Bao Xiqian does whatever she wants. If I want to help him, then I will help him. She is actually quite willing to see Wei Tao become a student.
What power brings is also obvious, and country bumpkins also have backgrounds and are not easy to mess with.
Nan Li is engaged in human resources, but a top student like her doesn't mind getting involved in more fields. After get off work every day, she helps Guan Jinyue, a newcomer, with all-round planning. From time to time, she asks for leave to follow her and help Follow Wei Tao to pick up "Duo Wan".
Not only Nan Li takes a different view of Wei Tao's role as a hands-off shopkeeper, but Jinshan Lei also looks at it differently. People who engage in investment are more focused on your vision rather than your ability to do things.
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