Chapter 801: Meet IDG

After talking with Sun Tao and Chen Lang, Chen Lang secretly went to Sunan on the 18th.
Mergers and acquisitions of Yong'an and Changkelong had the best results.
At this time, China Resources probably did not expect this idea from afar. After all, this time the expansion of the distance is so powerful. China Resources does not think that the distance has this strength.
As for whether Chen Lang can accomplish this task, Li Dong is actually not sure.
Despite Chen Lang's eloquent words, Li Dong will not put his hope on him alone.
While Chen Lang was traveling to southern Jiangsu, Li Dong was not idle.
On the one hand, Li Dong stepped up his defense in the Jinling area, on the other hand, he secretly contracted the scale of expansion.
Before the expansion in Shanghai, which was set before, Li Dong chose to stay aground temporarily.
However, there is no way to stop in Henan Province. Once stopped, outsiders will notice the weakness in the distance.
In addition to these external factors, Li Dong is essentially guilty because of money.
In this case, Li Dong had to start financing.
...
Originally, Li Dong was not going to talk with major risk institutions in person.
However, at this moment, Li Dong had to make concessions for the smooth development of the supermarket.
If Chen Lang could win the two best, it would be better if he did n’t spend money.
But once the money is spent, Li Dong must also top it.
Of course, Li Dong is not willing to come to talk in person.
After picking and picking, Li Dong finally chose to talk with IDG.
On the one hand, IDG had the highest quotation, and on the other hand, the other party had invested in Tencent before, but unfortunately this investment did not maximize capital.
In 1999, IDG invested US $ 2.2 million in the early stage of Tencent's entrepreneurship and won a 20% stake in Tencent.
However, in 2001 and 2003, IDG sold its shares twice, with a total return of more than US $ 20 million.
It stands to reason that the return rate of nearly ten times is not a loss.
But who can think of Tencent's rapid development, as of now, the total market value has exceeded 10 billion US dollars.
If IDG did not let go at the beginning, but insisted until now, even if the shares were diluted later, the proportion should also exceed 10%.
In just three or four years, 20 million US dollars can become 1 billion US dollars, and this rate of return may exceed all their previous domestic investments.
However, there is no medicine for regret in the world. Even if the regretful intestines on the IDG are green, the past will pass.
But now the opportunity has come again, missed Tencent, but the rapid rise in the distance.
Today, the distance is much thicker than the original Tencent. The same instant chat software PP, users are also increasing.
After sharing through the mall, Happy Farm, and Weibo, registered users are approaching the 50 million mark, even stronger than when Tencent first went public.
PP is only one aspect. It is not the strongest in the remote Internet system, and the remote mall once surpassed Taobao.
This made IDG think of the original Tencent, and maybe missed it, and this time it can make up for it in the distance.
Therefore, when Li Dong agreed to come to the meeting, IDG also paid special attention to it.
On the morning of the 19th, IDG and his party entered the Yuanfang Building.
The leader is not a foreigner, but a Chinese.
...
As soon as the two sides met, Li Dong said enthusiastically: "Mr. Xiong, I have been admiring for a long time!"
Xiong Xiaoge is in his early fifties this year. As one of the founders of IDG and the president of Huaxia District, Xiong Xiaoge now rarely comes to talk in person.
However, it is different from a distance, and no less than other small Internet companies.
Yuanyuan itself has solid roots and a large scale. In addition, Yuanyuan Group is not a small group, so Xiong Xiaoge came over in this negotiation.
Although he knew that Li Dong was young, he even read Li Dong's photos.
But when I saw myself, Xiong Xiaoge still raised a period of time to urge people to be old, the emotion of Jiangshan generation talented people.
Li Dong, born in 1985, is only 22 years old this year.
And he was born in 56 years, nearly 30 years older than Li Dong.
Although IDG has strong capital, it does not mean that IDG is his, he is just one of the co-founders.
Before, he rarely had such emotions. After all, at his age, there were not many people who made his achievements.
However, compared with Li Dong, Xiong Xiaoge also has to admit that this is the young man with the highest achievements he has seen in recent years.
With a feeling of emotion for a while, Xiong Xiaoge's face was full of smiles and said: "Mr. Li, I should say that I have been admiring for a long time. The name of Mr. Li is now well known, and I heard that Mr. Li personally appeared in this negotiation. I came over from Shanghai deliberately, just to meet President Li. "
"Mr. Xiong laughed. It used to be too busy. It happened that there was a problem with other businesses in the distance. I really couldn't spare time ..."
"Understand."
In the battle between China and China Resources, Xiong Xiaoge is also paying attention.
It's sure that Li Dong is busy, but Xiong Xiaoge is not a fool. He knows that the farther he competes with China Resources, the better.
At the critical moment, Li Dongyue needed external help.
Although this time they only talked about financing the remote mall, but the money was in the hands of the remote, they embezzled for a while, IDG can also tolerate it.
As long as Li Dongken concedes, Xiong Xiaoge does not mind helping each other get through this level.
The two greeted each other for a while, and each of them sat down to prepare for talks.
In fact, Yuan Chengdao had talked with the other party several times before. At the first quotation, the other party offered the price of 800 million US dollars, PP 500 million US dollars, Wanhua 200 million US dollars and Weibo 100 million US dollars.
At this price, Li Dong is naturally not satisfied.
After several talks, IDG withdrew a bit and raised the price tag.
However, the capital institutions are vampires. It is unrealistic how much you expect them to improve. After talking about it, in the end, the four major businesses in the remote mall only gave a price of 1.8 billion US dollars.
This time Li Dong personally came forward and did not politely talk to them. At the beginning of the talk, Li Dong said: "Mr. Xiong, we will not talk about the overall business this time, so we opened the talk.
For Weibo and Wancao, I don't accept financing for the time being.
The value of these two projects is seriously underestimated and does not meet my expectations.
Moreover, these two businesses are in a period of rapid development. I believe that after another one or two years, the value may increase tenfold to hundredfold.
And the far-end malls and PPs under the far-field business are now mature, and the value is obvious to everyone. Today we are talking about these two? "
As soon as Li Dong opened the conversation and removed Weibo and Wanhuantong, Xiong Xiaoge immediately frowned.
How far the Wan Wan cartoon business is, it is not easy to say for now.
But on Weibo, don't look at the late launch time, but since it has been online for half a month, it has been popular all over the internet.
In just half a month, the registered users of Weibo have exceeded the tens of millions mark, and instead of slowing down, this speed is increasing rapidly.
Even Twitter just went live last year, and it's not as hot as Weibo.
According to this trend, Weibo can quickly catch up with Twitter.
Twitter's current valuation has exceeded US $ 300 million. Although Weibo is a bit behind, according to Xiong Xiaoge's estimate, it will only take a few months to catch up.
They previously gave a valuation of 100 million, which is not low.
After all, Weibo had just been launched at the time, and they were able to give this price, which was extremely bullish on Weibo.
Who knows that Li Dong is still not satisfied, at this time Xiong Xiaoge does not know whether he is confident or proud, this guy is so optimistic about Weibo business?
After removing the two major businesses at once, Xiong Xiaoge frowned and said: "Mr. Li, in this way, the remote mall is separated from Wanhuan, there will be a lack of business, and the overall value will be lowered. Are you sure you want to do this? "
Li Dong nodded: "I know these, but even if the overall valuation declines, I don't want to sell cheaply."
Xiong Xiaoge considers for a moment, Yuanyuan Mall and PP are the main business of Yuanyuan, and the impact is not too great if it is removed.
Coupled with Li Dong's determination, Xiong Xiaoge didn't say anything, but just signaled that Li Dong needed time to communicate with the team for a while.
Li Dong smiled and signaled them to chat casually, and after waiting for a whispered communication for almost ten minutes, Xiong Xiaoge said: "Mr. Li, since you have a decision, then we must give a new plan. "
"Mr. Xiong, please."
"The second quotation that Yuanfang Mall originally gave us was 900 million US dollars, and now we are missing the additional value of Wan cartoon, we can only give a valuation of 800 million.
The same is true on the PP side. Your payment business is supported by Wankao. Now the price we give is still 500 million US dollars. "
"In addition, there must be some changes in our investment quota ..."
Xiong Xiaoge talked eloquently, according to his statement, IDG invested 200 million US dollars on this side, and 100 million on each side.
After the reorganization, the valuation of the remote mall reached 900 million US dollars, and IDG has a premium on this side, accounting for 10% of the shares.
On the PP side, after the reorganization, the total valuation is 600 million US dollars, and they occupy 15% of the shares.
This requirement is not too high, after all, 200 million US dollars is more than 1.6 billion yuan, the investment amount is not low, and the risk is not small.
After all, the industry already has two leaders in the same industry, Taobao and QQ. Even if it is the second in the distance, it is only the second.
Once the development is not smooth in the later period, there will be coincidence and loss of business, and it is likely that the distance will collapse rapidly.
The investment of 1.6 billion is not a small amount. Xiong Xiaoge admits to giving this plan, which is difficult for Li Dong to refuse.
The remote malls and PP, which are still in the development stage, have given more than 10 billion yuan in valuation, and few institutions at home and abroad should give this number.
After he finished speaking, Li Dong frowned slightly: "Mr. Xiong, you should know that Tencent's current market value has exceeded 10 billion, and their main business is QQ, and the rest are incidental.
Therefore, of these tens of billions, QQ occupies more than 80% at least ...
The other is Ali. When Ali raised funds before, Taobao ’s valuation was not low ... "
"Not the same, these are two concepts." Xiong Xiaoge quickly interrupted: "Whether it is Tencent or Ali, they are the front runners. President Li also knows that in the Internet industry, the most valuable thing is creativity.
To be honest, whether it is the remote mall or PP, it is just a follow-up.
The reason IDG is willing to give such a high valuation is also because you have achieved the current scale.
But the risks are so great that I do n’t need to say that President Li also understands.
Once the opponent cannot be surpassed within a short period of time, the weaker among the same products will soon be eliminated, which is a common occurrence in the Internet industry.
We bear such a big risk, and it is Mr. Li himself who is more valued.
Because you have created too many miracles ... "
Xiong Xiaoge touted a few words, but Li Dong was unimpressed.
The investment of USD 200 million occupies 10% of the mall and 15% of the shares in PP, which is really unacceptable to him.
In the mall, he invested more than himself, and the losses were close to more than 2 billion.
And it has also passed the most difficult incubation period, and now it has shown scale. At this time, the value is not as simple as doubling, and doubling it is not a problem.
Even without considering the subsequent development and the possibility of surpassing Taobao in the future, the current mall is also seriously underestimated.
Don't think that 800 million US dollars is a lot, it is normal for Internet companies to have high valuations.
Especially when it reaches a certain scale, the valuation will grow rapidly, rising several times, tens of times or even hundreds of times.
At present, 800 million US dollars is not low, but venture capital investment is the future, not the present.
Xiong Xiaoge said no matter how much, Li Dong would not agree.
After a confrontation between the two sides for a while, Xiong Xiaoge probably saw Li Dong unmoved, and finally asked: "So what is Mr. Li's plan here, can you tell us about it? After all, everyone sits down to talk and hopes that Achieve a win-win situation.
If it is too different from Mr. Li's expectation, we can hardly accept this. "
Li Dong did not conceal, and went straight: "Mall 2 billion USD, PP 1.5 billion USD!"
Xiong Xiaoge twitched the corners of his mouth and doubled. Li Dong is crazy about thinking about money?
The total price is 3.5 billion US dollars. For two projects, the renminbi exceeds 28 billion yuan. Is it really wrong?
So far, apart from Alibaba and Tencent, which Internet company has given such a high valuation before going public?
Now it is financing, only the first round of financing.
At this time, such a price is given. Is it not before the listing in the distance that the valuation exceeds 100 billion yuan.
If the listing fails to meet expectations, it must not lose money.
Venture capital seeks high returns. According to Li Dong ’s algorithm, if these two businesses fail to reach hundreds of billions after listing, the investment is not cost-effective.
Can this possibility exist?
Hundreds of billions of dollars, the current Ali listing can not reach this value ~ EbookFREE.me ~ Ali is currently preparing for listing, and the industry has also given an analysis. The market value on the day of listing should not exceed 100 billion.
Does Li Dong mean that he can surpass Ali?
Seeing the expression of Xiong Xiaoge, Li Dong knew that this time it should be a talk.
In fact, he gave the mall 2 billion US dollars, is already restrained.
Of course, Li Dong also knows a little, which is related to what he knows in the future.
If he does not know the future development, then IDG ’s previous quotation is actually good, and he may agree with joy.
However, when you know that this thing is very valuable in a few years, others have given the current price, would you still be willing to sell it?
It is also because of this sense of gap that Li Dong has been reluctant to raise funds.
But now the group is running out of money, and the other party can't pay a high price. Is it really impossible to sell cheap?
Li Dong was also disappointed for a while. It was really difficult to earn some money this year.
Then the two sides communicated a few words, and finally Xiong Xiaoge was not too satisfied to take the people away.
They didn't talk about it either, except that the price given by Li Dong was temporarily unacceptable, and later they had to go back and investigate and analyze it.
After sending them out of the distant building, Li Dong also left straight away.
Yuan Chengdao sighed a few people, the boss was too strong.
Even if the distant mall is worth hundreds of billions of dollars in the future, it is also the future. If it continues to be so strong at present, without sufficient capital for development, it may be caught up later.
It ’s better to be ranked second, and if you fall to third, then your scale will be bigger, and the valuation will not go up.
Do n’t many Internet companies know that their stuff is valuable?
Everyone knows that the Internet is the fastest-changing industry. If you have no money to develop, you will be one step behind, and you may be ten steps behind and one hundred steps behind.