Chapter 1012 Boom

It is difficult for investors in the United States to understand the bubble in the new technology wave in 1999, let alone domestic college students starting their own businesses.

Zhang Ke called Zhai Danqing and asked her to send someone to send over some research reports on the wave of the new technology industry. Formal and well-founded research reports are always more convincing than a single mouth.

"The long-term rapid development of the global new technology industry, especially the Internet industry is certain. In the early stage of the Internet industry's development, its own profitability is extremely limited, and its development cannot be separated from the support of the capital market. Therefore, venture capital is very concerned about the trend of the capital market. " Zhang Ke analyzed with a smile, "The investment and profit route you have designed for Chuangyu is to build Zhuoyu into China's Amazon, and expand the business scale as quickly as possible, hoping to win the favor of overseas venture capital and finally be able to succeed. After being listed overseas, Chuangyu will be able to cash out at that time - but this process will take two to three years at the fastest. It is a pity that the attitude of the capital market to the Internet industry is not always enthusiastic. Once the capital market falls into a trough If there is no period, the listing plan will die... Excessive expectations for the enthusiasm of the capital market, this is the biggest flaw in the plan, and it is also the biggest risk-as a standard venture capital model, there will naturally be a kind of risk for this kind of risk. However, there is still a big difference between Chuangyu and venture capital. The purpose of Chuangyu is to support college students’ entrepreneurship. It is naturally the most ideal result to win the favor of the capital market and eventually go public overseas. However, as a venture capital In essence, it is still necessary to relatively reduce the dependence on the enthusiasm of the capital market, and to consider more the development potential of the industry itself.” The novel chapter is updated the fastest”novel”The novel chapter is updated the fastest

"..." Zhang Ke's words made Ma Li and the others purse their lips and bow their heads in deep thought. His words also had a depth that Du Fei couldn't think about at ordinary times. There is also no deep understanding of the differences between venture capital investments.

"I didn't deny the essence of this business plan. How should I put it?" Zhang Ke smiled lightly. "It should be said that Chuangyu needs a more conservative business plan with deeper thinking about the industry itself. As for the amount of financing, five million or ten million is fine, it’s not a problem.”

"In the afternoon, we will discuss this for the activities of the Directors of the Creation Association. At least our current thinking has been clarified." Du Fei handed the plan to Shi Xuebin. He didn't intend to take up too much of Zhang Ke's time. As director of Chuangxie, Meng Le and Xi Ruolin went to the United States. Du Fei relied more on them in this regard, while Qin Gang and Ling Xiaoyan were more responsible for the daily management of existing businesses. It is derived from Chuangyu's existing business profits.

Shi Xuebin said to Ma Li and his three partners: "There is no need to wait until the afternoon, let's find a place to have lunch, let's talk while eating..." He asked Zhang Ke, "Will you participate?"

"I'm fine, too?" Zhang Ke said, "Go find a place to eat first..."

Let Shi Xuebin and Mali leave first, while Zhang Ke, Du Fei, and Chen Feirong walked and chatted behind: "The capital market has always been booming and declining.

The cycle of venture capital generally does not exceed two years. If the cycle is too long, it is difficult to make a prepared judgment on the direction of the capital market. Venture capital needs to consider more the development potential of the industry itself. Considering the investment cycle can be faster than venture capital. Long, to be precise, risk is more like industrial speculation..."

Du Fei said: "If you don't consider the introduction of venture capital in this business plan, Chuangyu will almost have to invest in it - it is too big for Chuangyu.

"What are you worried about?" Zhang Ke smiled. Said. "E-commerce will not be limited to the online sales of cultural goods such as books, audio-visuals, and stereos. When you develop into the online sales of consumer electronics and even home appliances, Aida and Shengxin can consider investing in shares—"

"Yes." Du Fei smiled. "Talk about the Internet industry. Behind it is Global Music Online and two big mountains that help Chuangyu to hold the sky."

This time is Quantum's last financing and equity adjustment before going public online. Except for Kumho's left hand and right hand. Transfer most of the equity held by venture capital to overseas companies. In addition, it only raised 20 million US dollars in venture capital related to Goldman Sachs. The Nasdaq Composite Index in the United States has shown signs of increasing steadily in the past two years. Quantum Online has been adjusted at this time. It can be listed overseas at the earliest in mid-June. The fundraising work is well underway.

Except Quantum Online. Global Music Online is an online genuine music sales store originally established to cooperate with ip1ayer hardware sales. It is also an important Internet resource under the name of Kumho. years later. Toshiba and Scooper jointly injected USD 60 million into Global Music Online in exchange for a 30% stake. It also means that the market value of the remaining 70% of Kumho's shares is 21.1 billion US dollars. Kumho has invested more than 20 million US dollars in global music online.

If only the wealth on paper is counted. It seems that Kumho's book profit on the global music online is dozens of times that of hardware sales-unfortunately, it is only a book profit. It is impossible for Kumho to cash in its book profits within a few years this year.

"These involve long-term planning of Internet platform resources. It is also a major issue that Kumho is currently considering." Zhang Ke said. "It's like Toshiba and Skopper jointly inject 60 million US dollars into global music in exchange for 30% of the equity. It seems that this is a bold investment against the background of new technology waves. But for Toshiba and Skopper. Take it out The money comes. More importantly, it is an industrial consideration.”

"Kumho's left hand and right hand this time, didn't Oak Park Venture Capital get more than 30 million US dollars out of thin air? It should be able to do something." Du Fei said.

"Thirty million US dollars can't do much," Zhang Ke smiled, "There are a lot of things to do. Now that the Aida Cultural Fund has been established, it seems that building a library at the North Gate is already very impressive, but no matter how thinking Expanding a little, building a digital library on the Internet, will it be more meaningful? This project is much more complicated than building a physical library with two floors underground and six floors above ground... These all involve Segmentation of Internet content, platforms, users and other resources in the future—”

"The digital library you mentioned was actually proposed by a researcher of the school's Science and Technology Information Research Institute, but the scope he demarcated is very narrow, limited to the collection of materials in professional fields, and it should also be attributed to the

A type of library," Du Fei said, "the person was introduced by Qin Gang, and the problem was too complicated, so I didn't let Chuangyu take over..."

"Is he just proposing ideas, or does he also have the ability to execute?" Zhang Ke asked. These days, creativity is a very cheap thing, and it can also be said to be an investment place. In the end, it depends on people's execution ability.

"Then you have to give him hundreds of thousands to try before you know." Du Fei said.

The people introduced by Qin Gang should not be too poor in ability, but there are too many factors to make things happen. As for what investment funds need to do, they will never invest all the funds needed for development at once.

Since Du Fei has a strong interest in the Internet industry, Zhang Ke also hopes that Chuangyu can do some basic things down-to-earth. As long as the pace is not too big, even if Chuangyu encounters a cold wave of the Internet, for Kumho, It won't be too much trouble, after all, basic things must be done, and this resource can be grasped in one's own hands as much as possible, and should be grasped in one's own hands as much as possible.

Zhang Ke is still quite free during this period. Whether it is Samsung, or Kewang, who has Mitsui behind him, and the support of Kewang, or the Yan family and Hongxin Construction, they are all busy with industrial layout.

In April 1999, the haze of the Asian financial turmoil was finally blown away. The new technology economy is surging vigorously. Although a bubble is brewing, it provides a considerable boost to the economic recovery at this time. Singapore and Malaysia were the first to signal economic recovery. South Korea's Samsung's financial pressure has also been greatly eased, and it has continuously announced additional investment plans in China. Kewang has the support of Mitsui and Huaxia Electronics, and its manufacturing base in Jinshan is increasingly prosperous. For the Yan family, Xintong Bank expanded its business to Donghai Province, which can be regarded as opening up one of Ren Du's two veins for Hongxin Construction's real estate business in Donghai Province. At least there is no need to worry about the pressure on funds. This must often be the most rare guarantee for a company .

Zhang Ke has nothing to do. On the weekend, he accompanied Du Fei, Shi Xuebin and others, and the business plan submission horsepower, Yang Weiyi, etc. were all locked in the office of the Chuangxie Association to study the business model of e-commerce websites.

Amazon has achieved great success in North America, but Amazon's business model cannot be simply imitated in China. The development of domestic e-commerce can even be described as a long way to go.

"In North America, online credit card payment is quite popular, but in China, it is a big country for cash transactions. People are not even used to sending money at the post office..."

"In North America, there are upss and Fedexx logistics companies that cover the United States and even the world. Compared with the prices in North America, the logistics costs are low. China's postal express charges are expensive and the service is not ideal. The coverage of intercity express and urban express companies is small... "

"Consumption in North America has a tradition of mail order, and a mail order business model has long been formed, and the recognition of the Internet is extremely high. For Chinese consumers, online shopping is as uneasy as 'buying cows across the mountain'..."

"Consumers in North America have a high tolerance for delivery. Amazon usually delivers after seven working days, while Chinese consumers have very limited patience..."

The details that were not paid attention to in the original business plan were listed item by item on the blackboard in the office of the Creation Association for discussion.

As well-known student booksellers in Jianxiao, Ma Li, Yang Weiyi and others have laid a certain foundation in physical book sales. The book store under construction has a physical bookstore covering an area of ​​more than 200 square meters for his previous college sales network. Warehousing, logistics distribution, supply of goods and other aspects of support, although the previously established book online sales network is limited to a few colleges and universities, but it has taken the first step in the transformation from physical business to virtual business model. They sell books online and A personal website for audio-visual products, and also sells some electronic products for students, and even teamed up with a flower shop to launch an online flower ordering business.

However, the previous online sales were only limited to the colleges and universities that were built, and organized work-study college students to ride bicycles to form a complete distribution team, and it was aimed at college students. Once the entire business model is promoted to the whole country, it will face the entire online consumer group. , the added difficulty is hard to imagine.

Relatively speaking, building an Internet sales platform is relatively simple.

Creativity and conception are always cheap. What is really valuable is the ability to realize creativity and conception step by step. Investing in business is not as good as investing in the person who proposes a business plan. If you invest in the right people, a seemingly clumsy business plan can be profitable; if you vote for the wrong people, no matter how perfect the business plan is, it will be a bottomless pit that cannot be filled.

Zhang Ke and Du Fei finally decided that Chuangyu will inject 5 million into Jiankewen Company, a partnership company of Ma Long, Yang Weiyi and others, to establish a joint stock limited company, to establish a database for collecting and selling Chinese available books, and to sell online books on Zhanzhuoyu.com The founders of Jiankewen, such as Ma Li and Yang Weiyi, applied for a leave of absence from the school and devoted their energies to the company's development.

Tunghai University has not made great achievements in the industrialization of colleges and universities. For example, Peking University has Founder and Jade Bird, Tsinghua University has Tongfang and Ziguang, and Dongda Science and Technology has no particularly famous technology companies under its head office. The weakness of domestic confidence is not strong enough.

In the past two years, Dongda University has also made great efforts in industrialization. It took more than 200 acres of land on the east side of the campus to invest in the construction of Dongda Science and Technology Park, and supported technology start-up projects. It was also jointly established with Oak Park Venture Capital Fund. The Science and Technology Park Entrepreneurship Fund naturally has the cheek to regard Chuangyu as a model for Dongda’s industrialization development. After all, Dongda also holds 30% of the shares in Chuangyu online school.

Chuangyu injected capital into Kewen Company to develop the online book sales business of Zhuoyu.com, and also received strong support from the school. The school not only supported Ma Li, Yang Weiyi, etc. Holding the equity of Jiankewen, Ma Li, Yang Weiyi and others initially held 51% of the equity of Kewen Company with their original resources.

Kewen Company will also move into Dongda Science and Technology Park to prepare for the formal launch of online book sales business.