Chapter 1274 The Valuation Is Not Ideal

This surprised Shi Lei a little.

He sat up a little and asked, "Are you planning to expand so soon? Are you a little anxious?"

Song Miaomiao shook her head. Her long hair made Shi Lei itchy. Ever since she established a relationship with Shi Lei, Song Miaomiao had already removed the hair she had added earlier, leaving her original hair. And now, it is also It is already a standard length for women’s short hair.

"The United Kingdom is too small, only the size of two Jiangdong provinces, and Wales and Northern Ireland are too small to put them on the market, so we just put some bicycles there symbolically to prevent the locals from thinking we are To favor one over the other, these two parts are actually not regarded as real markets. The main ones are England and Scotland, and Scotland is not of great value. To put it bluntly, Qixuan Britain is actually just Qixuan England, and it is mainly about Qixuan England. It is within the scope of urban counties, and the market in non-urban counties is of little significance, so even though it has not been long since Qixuan UK was established, in fact, the British market is almost saturated, and our business will stop if we don’t expand.”

Shi Lei thought for a moment, and that was true. Europe was already relatively small in area, and there were so many countries. Most of the countries were the size of one or two provinces in southeastern China. Qixuan said that if the UK wants to grow bigger, it can only focus on the whole of Europe, rather than confining its sights to a single country.

“How high is the current valuation?”

"During the A round, my mother and I followed the valuation given by venture capital funds in Europe. Although we were our own people, the accounts still had to be clear. The valuation at that time was 180 million euros. Now We are preparing for Series B and have already made preliminary contacts with several countries in the EU. With this favorable situation, our valuation has reached 340 million. I have discussed it with my mother and of course with Li Qian. , we all feel that we can stretch it as much as possible. It is estimated that with the opening of our second national-level market, even if we only launch the first batch of 10,000 to 20,000 bicycles, the valuation will still go up. Go a little further. It shouldn’t be a problem to break through 400 million. With luck, it might be 4.5.”

Shi Lei had no opinion on this, but the Series B valuation of 400 million, which was 27.8 billion soft sister coins, seemed to be a bit lower than in China.

However, the initial investment of Qixuan UK is much higher than that of Qixuan in China. This does not take into account the brand value of Qixuan. If the brand value of Qixuan is taken into account, based on the fact that Li Qianhaocheng only received 25% of the shares of 150 million, it was actually a total investment of 600 million. At that time it was close to 100 million euros.

The A round was only estimated at 180 million, which is still a little short of doubling. Now it can only be estimated to a maximum of more than 400 million, and there is still major expansion, which is really low.

Song Miaomiao seemed to sense Shi Lei's thoughts and said with a smile: "Do you think the valuation is a bit low? Let me tell you, my mother, me, and Li Qian have been very busy working for Qixuan UK during this period. No one is as good as a dog. The reason why the valuation is not so ideal is because the bicycle sharing project has not really become popular in Europe. This is different from that in China. After all, the population density is different. In the west, the value increase will definitely be slower. In addition, the cost here is already high, so it is good to have such a valuation. My mother said that the next step is to expand Qixuan UK to the entire EU. , at least before the C round of financing, the markets of more than three major countries must be opened, and France and Germany must be among them. In this way, the C round valuation will have a larger increase, perhaps not compared to Qixuan. There is less domestic financing.”

Shi Lei had no say in this, because he didn't have much investigation, and he didn't know how difficult it was for them to develop Qixuan Britain in the UK.

All along, I have seen good news, but it has never been compared with the scale of domestic development.

Now, Shi Lei understands a little better.

"The B round is only over 400 million, and the top is less than 3 billion. Can the C round really reach the level of Qixuan's C round in China?"

Song Miaomiao kissed Shi Lei on the lips and said with a smile: "That's all I said while holding my arms. My mother is more conservative. My own opinion is that in the C round, we are facing the entire EU market, so , I think it may be directly estimated to be around 3 billion euros..."

"A seven-fold or eight-fold increase?"

"Let's go and see!" Song Miaomiao seemed to be in high spirits, and the sluggishness she had felt just now was gone.

Seeing that Song Miaomiao seemed to be getting more energetic, Shi Lei couldn't bear it anymore. He quickly opened the quilt and got out of bed and said, "Let's take a shower. I'm almost exhausted. I took a ten-hour flight to get here today." Yes, and the jet lag hasn’t even returned yet!”

Song Miaomiao curled her lips and followed Shi Lei into the bathroom dissatisfied. After teasing him twice to no avail, she muttered, "I'm afraid you have to save your energy to deal with Sun Yiyi at night, right?"

Shi Lei's face darkened slightly. He had forgotten that there was such a thing just now. He didn't look at the time and just glanced out the window. The sky was still bright, but it was the end of July or the beginning of August. It had to be after seven o'clock at night. It's dark, it's already five o'clock no matter how you look at it.

I can't help but feel a little worried...

Of course I won't say it out loud, otherwise Song Miaomiao's temper won't explode?

After washing, the two of them returned to the bedroom one after another. Shi Lei put on a change of clothes and the phone rang on the sofa.

When he picked it up and saw that it was Sun Yiyi, Shi Lei's heart couldn't help but beat wildly. After walking to the balcony, he answered the phone.

As soon as the call was connected, Shi Lei heard Sun Yiyi's voice with guilt. She said: "Brother Shi, I'm sorry, I'm afraid I won't have time to go over to have dinner with you tonight. There was an emergency in the company, and I have to stay. It's estimated that I can't finish it until eight or nine o'clock. Have dinner by yourself, I will call you when I'm done here."

Although Shi Lei also felt a little regretful, he was relieved. In any case, there would be no collision between Mars and the Earth.

So, he said: "Okay, then you go ahead."

Sun Yiyi hesitated for a moment and said: "Why don't you ask Shui Ye to see if she can go over to accompany you?"

In any case, Sun Yiyi and Song Miaomiao always have to deal with each other. After a while, she also called Song Miaomiao Shui Ye, which was mainly because Li Qianhaocheng called her that every day in front of her.

Shi Lei hesitated for a moment, but decided to tell the truth: "She is here with me now."

Sun Yiyi was slightly stunned, and then said softly: "Then let her accompany you for dinner, it's good, so you don't have to eat alone."

Shi Lei couldn't help feeling a little guilty, so he said: "Yi Yi, I'm sorry..."

Before he finished speaking, Sun Yiyi interrupted him and said: "Brother Shi, don't say anything, I know everything. It's okay, you two have dinner, I'm still busy here. I'll call you after I'm done."

Shi Lei hung up the phone silently, looking at the Thames not far from the balcony, slightly dazed.

Song Miaomiao hugged Shi Lei from behind, put her head on Shi Lei's back, and said softly: "Sister Yi is not as easy to deal with as Wei Xingyue and me, right? When are you going to open this window paper?"

Shi Lei turned around, hugged Song Miaomiao into his arms, and said softly: "I'm sorry, I..."

Song Miaomiao stood on tiptoe and kissed Shi Lei, blocking what he was about to say.

"Wei Xingyue and I thought of this day when we decided to be with you, so there's no need to say sorry."

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