The most common trick used by Goldman Sachs is to sell when the market is low and sell when the market is low.
Every time I wait for an opportunity to enter an industry, I will talk down the industry, let the price go down, and then buy at the low price. When the profit line is reached, I will wait for the opportunity to ship, go long, and then sell at a high level. This has always worked.
Huaxia's banking industry also taught tuition.
When the company was reorganized and listed, Goldman Sachs was badmouthing that the bad debts were too high and were worthless, so that other Wall Street investment banks would not take over the business. At the same time, as a goodwill ambassador, Goldman Sachs won the equity at a low price with "tearful losses".
When ICBC went public, it received 49.5 billion, and when China Construction Bank went public, it shared 130 billion with Bank of America...
Xu Ziwang just followed the same pattern, making a fuss about the rate of fakes and fights, belittling and slandering Feigou.com, but he said it politely.
"Mr. Lu, the problem of fake goods has dragged down Feigou.com."
Lu Feidao: "As the platform develops, the intensity of the fight against counterfeiting will gradually increase."
“There are currently 310,000 registered stores on Feigou.com.”
Elites at Goldman Sachs are nit-picking, "If we crack down on counterfeiting with a high intensity, this data will inevitably shrink. If we don't crack down on counterfeiting, fakes and knockoffs will affect the brand's reputation, and will also lead to lawsuits from plagiarized brands."
Liu Edong, Xu Lei and others felt a little thump in their hearts.
According to this business logic, whether it cracks down on counterfeiting or not, the valuation of Feigou.com will be negatively affected by the negative impact of counterfeit goods, and the price will drop a lot.
"Sauri, Mr. Lu, people at Goldman Sachs like to tell the truth. Sometimes the truth is so hurtful."
Xu Ziwang spread his hands, thinking he had the upper hand, "Actually, we are still very optimistic about Feigou.com and look forward to you going global and competing with Amazon in the world's e-commerce market."
"Wrong, you are wrong again!"
Lu Fei raised his lips, "Why can't there be a third option? Why not multiple choices?"
"What?!"
Xu Ziwang couldn't help but be shocked, the third option?
Lu Fei smiled and said, "It is better to block things than to clear them up. In addition to severely punishing those who behave badly, we should also guide them to do their duty."
"Sparse? How can Mr. Lu be sparse?" Xu Ziwang was stunned.
"Feigou.com will support merchants in a planned way to develop from no tags to new brands, and from small workshops to large factories."
Lu Fei crossed his arms, full of confidence.
Crack down on counterfeiting or not is tantamount to killing a goose to lay eggs. If Taobao cracks down on counterfeiting, it is better to build a batch of e-commerce brands and hatch the eggs into chickens. Whether it is a turkey or a black-bone chicken, the one that can lay eggs is better. chicken!
Xu Ziwang said: "Impossible, absolutely impossible! From the birth of a brand to its popularity and internationalization, it does not happen overnight."
"Wrong! Big mistake!"
Lu Fei shook his head and said: "The most critical thing for the rise of any brand is the dividend window period. Nike, for example, started out as a copycat."
Liu Edong heard this for the first time and opened his mouth wide, "Mr. Lu, has Nike been copied?"
"Of course! Cortez, a replica of Nike's Tiger brand, was on the verge of bankruptcy and only then did it turn around by betting on Jordan and the NBA."
When Lu Fei exposed Nike's background, Xu Ziwang and others had mixed emotions. For a moment, they were speechless.
“There are countless examples of copycats turning into famous brands throughout the industrial era.”
Lu Fei said seriously with a straight face: "The copycats and no-name brands on Feigou.com can also rely on the huge dividends from e-commerce traffic to incubate into a group of star brand companies. This is a brand new business model developed by Feigou.com!"
Xu Ziwang's heart sank. As expected, Master Lu is not easy to fool!
Lu Fei said: "Any more questions?"
Xu Ziwang shook the refill of coffee and said, "I have no problem. Mr. Lu's plan is indeed a solution."
Finance is all about money and food, and all it is about is information.
The reason why Goldman Sachs' foreign capital has repeatedly succeeded in China is because of the information gap. Lianxiang was deceived by Goldman Sachs into buying IBM because of the information gap.
Without the information gap, there will be no opportunity, and this battle cannot be fought again.
Zhang Yong looked left and right, secretly pleased that in this round of confrontation, Lu Fei had firmly grasped the initiative in the negotiations!
"Then let's talk about investment and shares."
………
After the B round, the equity structure of Feigou.com is 61.2% held by Lu Fei, 10.8% by IDG, 13.5% by Baring Asia, 4.5% by Carlyle, and 10% by MIH.
In this round, Lu Fei allocated 8% as an equity pool and gave 3.5% and 4.5% to Liu Edong and Xu Lei, two heroes of Conglong.
According to his wishes, 10% was released, but Goldman Sachs not only thought that 10% was too little, but also thought that he was not the lead investor and only received 3%.
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"Mr. Lu, why is it only 3%?" Xu Ziwang complained quite a bit.
“Through the negotiation just now, we learned that Goldman Sachs is so sensitive to the issue of fake goods on Feigou.com.”
Lu Fei spread his hands, "When I look for partners, I like to find partners who believe in our entrepreneurial team and Feigou.com model wholeheartedly. Sequoia Capital has no such concerns."
"Mr. Lu, misunderstanding, we have no worries now!"
Xu Ziwang panicked, thinking that they had used too much force and kept applying pressure, and now he had to suffer the consequences.
As everyone knows, without this negotiation, we would still only be able to get 3%.
The elites of Goldman Sachs were all confused. Instead of asking for more, they reversed the situation and gave Sequoia an advantage in vain. They hurriedly pleaded softly. M..coM
Lu Fei smiled, "I still like your unruly look just now, please recover!"
He glanced at Xu Lei, who understood tacitly: "It would be great to get 3%. Many institutions such as Tiger, CDH, Citigroup, and SoftBank have crossed the threshold. They haven't had this opportunity yet. We also value the strength of Goldman Sachs." , make a friend.”
Xu Ziwang frowned. He was too soft. He wanted to be tough. He had already witnessed Lu Fei's toughness and was silent in a rare way.
The eagle catches the chicken, but the chicken rides on it!
"220 million U.S. dollars, this financing Feigou.com plan..."
Lu Fei simply stated the use of funds, including Zhongtong Logistics, brand incubation, Jingdong Mall, Caifubao, TV shopping, etc. A series of flows revealed a powerful corner of the Feigou empire.
Xu Ziwang's heart was beating loudly. It was indeed a combination of eBay and Amazon.com, and it dominated the Chinese market. Its valuation was no longer the same.
A meeting did not resolve the dispute over equity distribution.
Afterwards, they went to the reserved hotel room for dinner. At the table, Xu Ziwang lowered his head, drank a glass of wine, and apologized, constantly reflecting on his overestimation of the hidden dangers of fake goods on Feigou.com.
All we have to do is show off our craftsmanship, get down on our knees, and make red bean paste Smith Marseille!
"Mr. Lu, Goldman Sachs is very willing to make friends with Feigou.com."
Lu Fei squinted his eyes. As expected of his father from Neon, he was equally capable of bending and stretching.
The reason for choosing Goldman Sachs is the same as allowing Penguin to invest in "Black Myth". In addition to overseas resources and connections, it also pays a protection fee to avoid being pessimistic and belittling Feigou.com in international public opinion.
He took a sip of wine and said, "When you come out to fool around, you have to be trustworthy. If you say 3%, just 3%."
After discussing for a while, Goldman Sachs reluctantly agreed and reached a consensus. Soon, the investment amount and equity ratio were freshly released.
Sequoia Capital invested US$154 million and holds 7% of the shares.
Goldman Sachs invested US$66 million, accounting for 3% of the shares.
Lu Fei's shareholding was reduced to 47.88%, while Liu Edong and Xu Lei held 3.15% and 4.05% respectively.
In addition, a 4% equity pool will be established for the second batch of leaders such as Wang Huiwen, Gao Tuan, Zhang Yong, and Fang Xing.
In this way, Feigou.com’s Series C financing was initially completed. After about a year, in the winter before the Internet picked up, the valuation soared to 2.2 billion, thanks to the momentum created by "The World is Flat".
After lunch, we immediately returned to Hailong Building.
The teams from both sides discussed the details of the agreement, including the right of first refusal, and the contract needed to be reviewed and approved, because Feigou.com also held shares in a VIE structure to avoid any mistakes.
Xu Lei took out the secretly hidden wine and gathered with Liu Fei in Lu Fei's office. The three big men clinked glasses and had a good time.
Liu Edong was so excited that he waited until the clouds opened to see the moonlight.
3.15% of the equity does not seem like much, but it is already 60 million US dollars, and it is a B share of AB shares, with 20 times the voting rights.
Before listing, there will also be equity incentives.
"cheers!"
There was a clang, and the wine glass made a crisp sound.
Lu Fei joked: "Gaodong, can you go to your father-in-law's house for the Chinese New Year this year?"
Xu Lei chimed in and said, "Yes, quickly ask Gong Xiaojing what my father-in-law and mother-in-law like, and prepare it in advance."
"Don't worry, hehe, don't worry, there's still half a year."
Liu Edong smiled shyly, like a lotus flower.
Lu Fei touched his chin and said, "Gaodong, I want to ask her one more thing. Write an internal reference article."
"Good thing, no problem. Last time she wrote about e-commerce and Feigou.com, she won praise from the leader."
Liu Edong asked curiously: "Mr. Lu, what are you writing about this time? Are you still writing about e-commerce?"
Lu Fei narrowed his eyes: "No, write Goldman Sachs."
We drink together from golden bottles, but we will not spare each other with a bare sword!
