Chapter 623: President Lin is right

In the last financing, Pei Qianlong promised that he would withdraw from this project in the middle of next year.
David thought the opponent was fooling him.
After all, there is no agreement on paper.
Unexpectedly, the exact time is now given, which is the d round, in March and April next year.
"What if funds are still needed during this period?" David suddenly thought of this. Although he had just raised one billion yuan, the project burned too fast.
"We don't mind to raise one or two more times here. Of course, you can also raise C+ rounds." Pei Qianlong hates this person's inability to advance or retreat.
Among the three bike-sharing entrepreneurs he contacted, David was the most ambitious.
Although his for development is the best, but in the long run, this person is not good at uniting all the forces that can be united. He is too independent and willful, and will inevitably suffer from this in the future.
The world of capital is bloody.
There is no such thing as giving your cake to others.
Especially the money to buy cakes, there are other people's shares.
Of course, from David's standpoint, his game with capital is not unreasonable.
If you kill your neck, sooner or later his for will become someone else's for.
But you have just started, you haven't crushed all your competitors under your feet.
What's more, the industry is full of crises, and there is no specific profit point for the time being.
David also revealed a message just now, that is, he takes financing too seriously.
Obviously a master who doesn't like being suppressed by others, but he is obsessed with developing through financing.
It is July, and it will be half a year before March next year. A billion is not enough for you to burn. Do you regard burning money as development?
Didn't you expect to stop and sink in?
Solve the problems that need to be solved in the feedback from users during the development process?
Do not improve your own skills, rely on the capital market to pass on.
This for is really over sooner or later.
Regardless of the rapid development of shared bicycles, there are actually many problems.
For example, when you get off work at night, you may find that there are no cars at the door of the company, but there are a lot of cars parked at the door of the community. When you go to work in the morning, there are no cars at the door of the community.
To solve this problem, the operating cost is astronomical.
And within your management team, greed prevails, even people outside have heard that the grassroots can do tens of thousands a month, a little higher than hundreds of thousands is normal, it is simply a feast of capital wool .
The fleece of capital can be gathered, and the capital is also mentally prepared, but it is not yours.
David has no management experience at all, and he is obviously not a good decentralization person.
In addition, although shared bicycles have only been in development for a few months, they have been exposed to the sun, rain, and violent treatment by users, and many vehicles have become scrap.
For's bikes are in the worst condition because they are the worst quality.
Pei Qianlong has already seen the future of shared bicycles from For. He deeply agrees with Mr. Lin's view that there is no way to maintain this industry for a long time. It is the best situation to make a profit and withdraw.
He has even begun to lose confidence.
For can it last until March and April next year.
If you don't wait for March and April next year, Kleist can withdraw now.
For the project, Kleist used the name of Dalong Technology to invest a total of 265 million yuan. According to the valuation of the C round, if it changes hands now, it can sell for 1.2 billion.
If this project is withdrawn now, one billion will be earned.
If for fails to last March and April next year and falls, then these two billion yuan will be lost.
Money back?
nonexistent!
If for goes bankrupt, their assets will not be refunded even the user’s deposit, and the supplier’s payment cannot be paid off, not to mention the investment return that is placed in the last order.
If the quality of the car is too bad, the car you worship is too good.
That's too good.
The life of a bike is designed for 5 years, and for may only last for 3 months, so so far, there are very few bikes that are worshipped in the scrap iron pile made by shared bicycles.
However, with good quality, the cost is naturally high.
Someone else can build a car for 800 yuan, and she costs 3,000 yuan.
The market is not as big as for, but her rate of burning money is not slow at all, and even worse.
This time, Hu Wei asked for a financing of 1.5 billion.
Greater appetite than for.
Mainly because she spends money fast.
In addition, the lagging market share made Hu Wei a little anxious. On the one hand, she needed funds to build a car, and on the other hand, she had to spread the market.
Worship's current market share growth rate is No. 1 in the industry.
The growth rate is very fast, and when the growth rate is fast, everyone will be optimistic about the future of this project.
Don't worry about no one buying it.
Worship bicycles have better quality and more comfortable riding. Its reputation is obviously better than that of for. Moreover, everyone feels that Hu Wei is doing long-term business and will definitely be able to surpass for in the future.
Last time, Panda Capital and Joy Capital entered the game.
This time, in addition to Panda Capital's continued follow-up, a large number of capital circles such as Sequoia Capital and Hillhouse Capital have also been added.
It is equivalent to a pack of wolves surrounding a piece of meat.
Pei Qianlong represents Winter Capital this time and is also the second largest shareholder of this project.
His request is very simple. Winter Capital maintains 25 shares, and everything else can be let out.
Hu Wei, the founder, is more generous than Pei Qianlong. She originally held 32 shares and is now willing to release 12 directly, which means that she has changed from the largest shareholder to the second largest shareholder. Capital is even lower.
And these sacrifices she made, in exchange for a high valuation of worship.
The pre-financing valuation was pushed to 3.5 billion-higher than for. Once the target of financing 1.5 billion is completed, the worship of bicycles will become 5 billion.
So, is it difficult to complete this valuation?
It didn't take two days before and after. The person in charge of Panda Capital who initiated this financing was about to explode.
Sequoia, Warburg Pincus, Hillhouse, Joy Capital, Innovation Workshop, Bertelsmann, and even Tuanmei and Penguin. UU Reading www.uukanshu.com are allowed to enter the market. There are many others that are blocked. .
On the other hand, David of for, he only introduced a younger brother to travel in C round.
Because of fear, because he didn't want to be swallowed by capital, he chose a younger brother who could help his for travel.
The valuation is also daunting. In the end, the valuation of For is a billion yuan lower than Worship.
Before and after, but the gap is a week and a half.
Before the financing, the valuation was 3.5 billion, and the original 30 of Winter Capital was valued at 108.5 billion. To guarantee the 25 of the 5 billion valuation, the difference of 200 million must be made up.
And Hu Wei, because of the dilution, a lot of shares.
She directly withdrew 85 million.
A project that has not arrived in a year has already brought her 85 million tangible wealth. This is not even the 20 share under the valuation of 5 billion, which is worth one billion.