Chapter 801 Meeting IDG

After talking with Sun Tao and Chen Lang, on the 18th, Chen Lang secretly went to southern Jiangsu.

Mergers and acquisitions of Yongan and Changkelong, the effect of surprise is the best.

At this time, China Resources probably didn't expect Yuanfang to have such thoughts. After all, Yuanfang has expanded so much during this period of time, and China Resources does not think Yuanfang has such strength.

As for whether Chen Lang could complete this task, Li Dong was actually not sure.

Even though what Chen Lang said was convincing, Li Dong would not put his hopes on him alone.

While Chen Lang was rushing to southern Jiangsu, Li Dong was not idle either.

On the one hand, Li Dong stepped up his defense in the Jinling area, and on the other hand, he secretly contracted and expanded the scale.

Li Dong chose to temporarily shelve the previously planned Shanghai expansion.

But Yuxing couldn't stop, once it stopped, outsiders would notice the weakness in the distance.

In addition to these external factors, Li Dong is essentially weak because of money.

In this case, Li Dong had to come up with the idea of ​​financing.

...

Originally, Li Dong was not going to talk to the major risk agencies in person.

But at this time and at that time, Li Dong can only choose to make concessions for the smooth development of the supermarket.

It would be best if Chen Lang could win the two, and it would be even better if he didn't spend money.

But once the money is spent, Li Dong must also top it.

Of course, not all of Li Dong's families are willing to have an interview in person.

After picking and choosing, Li Dong finally chose to have a meeting with IDG.

On the one hand, IDG had the highest offer at the beginning, and on the other hand, the other party had invested in Tencent before, but unfortunately this investment failed to maximize capital.

In 1999, IDG invested 2.2 million US dollars in the early days of Tencent's business, and won a 20% stake in Tencent.

However, in 2001 and 2003, IDG sold its shares twice, with a total return of more than 20 million US dollars.

It stands to reason that the return rate of nearly ten times is not considered a loss.

But who would have thought that Tencent is developing faster and faster. Up to now, the total market value has exceeded 10 billion US dollars.

If IDG had not let go at the beginning, but had persisted until now, even if the shares were diluted in the later period, the proportion should exceed 10%.

In just three or four years, 20 million US dollars can become 1 billion US dollars. This rate of return may exceed all their previous domestic investments.

However, there is no medicine for regret in the world, even if IDG's intestines of regret are green, the past will pass.

But now the opportunity has come again. After missing Tencent once, Yuanfang has risen rapidly.

Today's Yuanfang has a much stronger foundation than the original Tencent, and the number of users of the instant chat software PP of the same model is also increasing.

Through the mall, Happy Farm, and Weibo drainage and sharing, the number of registered users is approaching the 50 million mark, which is even stronger than when Tencent first went public.

And PP is only one aspect. It is not the strongest in Yuanfang Internet system, and Yuanfang Mall has even surpassed Taobao.

This can't help but remind IDG of the original Tencent. Maybe what was missed at the beginning can be made up for in the distance this time.

So when Li Dong agreed to come forward for a meeting, IDG also paid special attention to it.

On the morning of the 19th, a group of IDG entered the Yuanfang Building.

The leaders are not foreigners, but Chinese.

...

As soon as the two sides met, Li Dong enthusiastically said: "Mr. Xiong, I have admired you for a long time!"

Xiong Xiaoge is already in his early fifties this year. As one of the founders of IDG and the president of Huaxia District, Xiong Xiaoge seldom comes forward to negotiate in person.

But Yuanfang is different, no more than other small Internet companies.

Yuanfang itself has a solid foundation and a large scale, and the Yuanfang Group is not a small group, so Xiong Xiaoge personally rushed over for this negotiation.

Even though he knew that Li Dong was young, he had even seen Li Dong's photos.

But when seeing him in person, Xiong Xiaoge still had a feeling that time makes people grow old, and that generations of talented people come out with emotion.

Li Dong, who was born in 1985,

This year is only 22 years old.

And he, born in 56, is 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.

He seldom felt this way before, after all, at his age, there are actually not many people who have made such achievements.

However, compared with Li Dong, Xiong Xiaoge also had to admit that this was the most accomplished young man he had seen over the years.

Feeling emotional for a while, Xiong Xiaoge said with a smile on his face: "Mr. Li, I should have said that I have admired you for a long time. Mr. Li's name is well known now. I heard that Mr. Li personally came forward for this negotiation. I rushed here from Shanghai, just to meet Mr. Li."

"Mr. Xiong laughed at me. I was too busy before. During this time, there were some problems with other businesses in Yuanfang. I really couldn't spare time..."

"Understand understand."

Xiong Xiaoge is also paying attention to the dispute between Yuanfang and China Resources.

That's for sure Li Dong is busy, but Xiong Xiaoge is not a fool, knowing that the more fierce the competition between Yuanfang and China Resources, the better.

The more critical the situation is, the more Li Dong needs external help.

Although they are only talking about financing Yuanfang Mall this time, IDG can tolerate the money being used by Yuanfang for a period of time.

As long as Li Dong is willing to give in, Xiong Xiaoge doesn't mind helping the other party through this hurdle.

The two exchanged pleasantries for a while, and both sides sat down and prepared to talk.

In fact, Yuan Chengdao had already talked with the other party several times before. At the first quotation, the other party gave Yuanfang Mall 800 million US dollars, PP 500 million US dollars, Wanka 200 million US dollars, and Weibo 100 million US dollars.

Li Dong was naturally dissatisfied with this price.

After several talks, IDG made some concessions and raised the price.

However, capital institutions are vampires. It is unrealistic to expect them to raise much. After talking and talking, in the end, the four major businesses of Yuanfang Mall only offered an offer of 1.8 billion US dollars.

This time Li Dong came forward in person, and he was not polite to them. At the beginning of the meeting, Li Dong said: "Mr. Xiong, this time we won't talk about the overall business, but split it up.

For Weibo and Wanka, I will not accept financing for the time being.

These two items were seriously undervalued and did not meet my expectations.

Moreover, these two businesses are in a period of rapid development. I believe that after a year or two, the value may increase tenfold or hundreds of times.

As for Yuanfang Mall and PP under Yuanfang, their businesses are approaching maturity, and their value is obvious to all. How about we focus on these two items today? "

Xiong Xiaoge frowned when he heard that Li Dong was going to break up the conversation and immediately exclude Weibo and Wankatong.

It is hard to say for the time being how Wanka's business in Yuanfang will be.

But Weibo, don't look at the late launch time, but since it was launched for half a month, it has become popular all over the Internet.

In just half a month, the number of registered Weibo users has exceeded 10 million, and the speed has not slowed down, but is increasing rapidly.

Even Twitter, which just launched last year, is not as popular as Weibo.

According to this trend, Weibo will soon catch up with Twitter.

Twitter is currently valued at more than 300 million US dollars. Although Weibo is a bit behind, according to Xiong Xiaoge's estimation, it will only take a few months to catch up.

They gave a valuation of 100 million before, which is actually not low.

After all, Weibo had just launched at that time, and they were already extremely optimistic about Weibo because they could offer this price.

Who knew that Li Dong was still not satisfied. At this time, Xiong Xiaoge didn't know whether he was confident or arrogant. Is this guy so optimistic about Weibo business?

Eliminating the two major businesses at once, Xiong Xiaoge frowned and said: "Mr. Li, in this way, Yuanfang Mall and Vancard will be separated, and there will be a piece of business missing, and the overall value will be lowered. You Are you sure you want to do this?"

Li Dong nodded and said: "I know this, but even if the overall valuation drops, I don't want to sell it cheap."

Xiong Xiaoge thought for a moment, Yuanfang Mall and PP are the main business of Yuanfang, and the impact of exclusion would not be too great.

In addition, Li Dong had made up his mind, so Xiong Xiaoge didn't say anything, but just indicated that Li Dong needed time to communicate with the team.

Li Dong smiled and signaled them to chat casually, and after talking in a low voice for about ten minutes, Xiong Xiaoge said: "Mr. Li, since you have made a decision, we have to come up with a new plan. "

"Mr. Xiong, please tell me."

"Originally, the second quotation we gave for Yuanfang Mall was 900 million U.S. dollars, but now that the added value of Wanka is missing, we can only give a valuation of 800 million U.S. dollars.

The same is true for PP. Your payment business is supported by Vancard, and the quotation we give is still US$500 million. "

"In addition, there will be some changes in our investment quota..."

Xiong Xiaoge talked eloquently. According to him, IDG invested 200 million U.S. dollars, and both sides invested 100 million U.S. dollars.

After the reorganization, the valuation of Yuanfang Mall has reached 900 million U.S. dollars, and IDG has a part of the premium here, occupying 10% of the shares.

As for PP, after the reorganization, the total valuation is 600 million US dollars, and they occupy 15% of the shares.

This requirement is relatively 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 Taobao and QQ, the two industry leaders. Even if Yuanfang is the second child, it is only the second child.

Once the development is not smooth in the later stage and the business overlaps and losses occur, it is very likely that Yuanfang will collapse rapidly.

The investment of 1.6 billion is not a small amount. Xiong Xiaoge thinks that it is difficult for Li Dong to refuse this proposal.

Yuanfang Mall and PP, which are still in the development stage, have given an estimated value of more than 10 billion for these two items alone. There should be few institutions at home and abroad that can give this figure.

After he finished speaking, Li Dong frowned slightly and said: "Mr. Xiong, you must know that Tencent's current market value has exceeded 10 billion, and their main business is QQ, and everything else is incidental.

So among the tens of billions, QQ accounted for at least 80%...

In addition, on Ali’s side, when Ali raised funds before, the valuation given by Taobao was not low…”

"Not the same, these are two concepts." Xiong Xiaoge quickly interrupted: "Whether it is Tencent or Ali, they are both leaders, and Mr. Li also knows that in the Internet industry, the most valuable thing is creativity.

To be honest, whether it is Yuanfang Mall or PP, they are just following the trend.

The reason why IDG is willing to give such a high valuation is also because you have achieved the current scale.

But the risk is so great, I don't need to tell Mr. Li to understand it.

Once unable to surpass the other party in a short period of time, the weaker product of the same product will soon be eliminated. This is a common occurrence in the Internet industry.

For us to take such a big risk, what we value more is Mr. Li himself.

Because you have created too many miracles..."

Xiong Xiaoge praised a few words, but Li Dong was unmoved.

An investment of 200 million US dollars, occupying 10% of the mall and 15% of PP's shares, is really unacceptable to him.

In the mall, his own investment alone, plus losses, are close to more than 2 billion.

Moreover, 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 several times is not a problem.

Even without considering the subsequent development and the possibility of surpassing Taobao in the future, the current mall is seriously underestimated.

Don't think that 800 million US dollars is a lot, and it is normal for Internet companies to have high valuations.

Especially when it reaches a certain scale, the valuation will increase rapidly, several times, tens of times or even hundreds of times.

At present, 800 million US dollars is not low, but venture capital is investing in the future, not the present.

No matter how much Xiong Xiaoge said, Li Dong would not agree.

The two sides clashed for a while, Xiong Xiaoge probably saw that Li Dong was unmoved, and finally asked: "Then what is Mr. Li's plan, can you tell us about it? After all, since everyone sat down to talk, they all hope to To achieve a win-win situation.

If it differs too much from Mr. Li's expectations, it will be difficult for us to accept this. "

Li Dong didn't hide anything, and said directly: "The mall is 2 billion US dollars, and PP is 1.5 billion US dollars!"

The corner of Xiong Xiaoge's mouth twitched, more than doubled, Li Dong was crazy about money, right?

The total price is 3.5 billion U.S. dollars, and the two projects cost more than 28 billion yuan. Is it really worth the money?

So far, apart from Alibaba and Tencent, which Internet company in China has given such a high valuation before going public?

Now it's financing, the first round of financing.

If such a price is given at this time, wouldn’t it be valued at more than 100 billion yuan before Yuanfang’s listing.

If the listing fails to meet expectations, it will not be a loss.

What venture capital seeks is high returns. According to Li Dong's algorithm, after listing, if these two businesses cannot reach hundreds of billions, then the investment is not worthwhile.

But does this possibility exist?

Hundreds of billions, and the current Alibaba listing cannot reach this value. Ali is currently preparing to go public, and the industry has also given analysis. The market value on the day of listing should not exceed 100 billion.

Doesn't Li Dong mean that he can surpass Ali?

Seeing Xiong Xiaoge's expression, Li Dong knew that the conversation should have collapsed this time.

In fact, he gave the mall 2 billion US dollars, which is already restraining.

Of course, Li Dong also knew a little bit, and it had something to do with what he knew.

If he doesn't know the future development, then IDG's previous offer is actually good, and he might happily agree.

However, when you know that this item will be very valuable in a few years, but someone else gives you the current price, would you still be willing to sell it?

It is precisely because of this sense of gap that Li Dong has been reluctant to raise funds.

But now that the group has no money, and the other party just can't offer a high price, is it really going to be sold at a low price?

Li Dong was also a little disappointed for a while, it is really difficult to earn some money these days.

After that, the two sides communicated a few more words, and finally Xiong Xiaoge took the person away not too satisfied.

The two sides didn't talk about it anymore, but they couldn't accept the price Li Dong offered for the time being, and they had to go back to investigate and analyze it later.

After sending them out of Yuanfang Building, Li Dong also left straight away.

Yuan Chengdao and the others sighed a little, the boss is too strong.

Even if Yuanfang Mall is really worth tens of hundreds of billions in the future, that is the future. If it continues to be so strong at present, without sufficient funds for development, it is very likely that someone will catch up later.

Ranking second is better, if you fall to third, then even if your scale is bigger, the valuation will not go up.

Don'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, if you fall behind one step, you may be ten or a hundred steps behind, and in the end it will be worthless.