Chapter 854

Later, a joke spread on the Internet that an old woman went to the vegetable market to buy tomatoes and picked three. After weighing them, the stall owner said, "one Jin and a half, three yuan and seven."

"I'll make a soup," said the old woman, "not so much." Then he took out the biggest one, and the stall owner quickly looked at the scale again: "one jin, two liang, three yuan."

As a result, when everyone thought that Granny was going to be trapped by a profiteer, Granny calmly took out 70 cents, picked up the biggest tomato just removed, and turned away.

Three, three, seven. After one is removed, the remaining two, three, three, seven minus three. There is no problem with the seven hairs. The stall owner can only eat his own dumb loss.

Although it's a joke, it well reflects the game between corporate financing and venture capital.

Now, the technology of pasturing is like those tomatoes, but they are big and small, green and red.

YY is definitely the biggest, reddest and best one among several tomatoes, so it must be the best to eat. The paste bar may not be big or small, green or red, but happy farm is probably the green and small one.

Although there is running water, compared with the real end game, this running water is of little significance. What VC looks at is YY's comprehensive potential in the field of instant messaging and the field of future online social networking. Therefore, in front of this big framework, "happy farm" is really nothing.

Li Mu also guessed the value judgment of VC, so he wanted to open it first and then talk with VC. If VC didn't really like tieba and Kaixin farm, it didn't matter. The less optimistic it was, the more beneficial it would be to him. For example, Sequoia, 13 billion yuan is valued by Ueno technology. If 12 billion yuan is valued by YY, Li Mu would laugh in his dream.

Because Li Mu knows that the product scale and the future development prospect of the ecological chain of tieba can be valued at least by tens or even tens of billions. If the microblog is hatched in a few years, the valuation will start at least by tens of billions of dollars.

As for happy farm, Li Mu did not expect it to make much money, because its core task is not to make money, but to build artillery for YY's overseas development. However, in addition, happy farm has a special attribute.

No surprise, it must be the first client game of its own, that is, the first product of the future game business department. But at present, the game business department is still in a state where there is no game. If they are also involved in financing, venture capital will not give them a high valuation at all. At most, it only gives a team valuation, plus the platform bonus. However, Li Muxin However, it is clear that the client-side game business will be the top priority of Internet revenue in the future. If we talk with capital at a very low price in this basket of tomatoes, we will suffer a lot.

What Li Mu wants to do is to optimize and upgrade in grandma's way. As a seller, first make clear the price of each tomato in the eyes of the buyer, and then take out the one that the buyer can't see. Aren't you blind? I just don't want to sell it. I'll take it out. Let's talk about the rest.

Other people of Muye technology also understand Li Mu's idea. Naturally, they have no opinion on the separation and financing. However, we are more concerned about that once Muye technology is divided into two or three companies, one of them has the capital financing, how can we smoothly use the money in the overall operation of the three companies in the future?

If happy farm is split up, when YY is globalized in the future, a large part of the capital invested in Makino technology will be used to push happy farm, and the capital will be crazy.

Li Mu felt that this was not a problem at all. He said to the people calmly: "the reason why you are worried that the capital side will oppose us to use our money in other companies that have nothing to do with them is that you treat capital as a person. The premise of capital money is that capital can not interfere with our decision-making and operation. If we can't do this, it's better We will not agree to the financing terms. "

Said Li Mu: "we are a mature large-scale Internet enterprise, not a start-up enterprise. Venture capitalists don't need to worry about our product model, profit space and development prospects. In this case, they rush to invest in us. The purpose is nothing more than to want our shares. After we get the shares, when we need them, he will help us; we When you don't need him, you can just shut up and keep a distance and be a silent shareholder. "

Kong Lingyu agreed: "I think it's the same. Even if we use VC money to push happy farm overseas in the future, the real benefit is YY. After all, once our YY opens up in the overseas market, the valuation space of YY will be unlimited."

Ding Zhenglin asked Li Mu, "Mr. Li, if it's split, what's your psychological evaluation of these sectors?"

Li Mu thought for a moment and said, "YY 15 billion, tieba 5 billion, happy farm 2 billion."

A few people were shocked by Li Mu. After that, Li Mu's expectation on the technology of Muye is estimated to be 22 billion yuan! Even if it's seven billion more than Softbank, which is currently the highest offer

Lin Qingya first saw through Li Mu's intention and said with a smile, "Mr. Li, I think your heart is to take out the post bar and happy farm, and directly raise the value of YY by 15 billion yuan."Li Mu laughs and points out: "Qingya you know me best."

After that, Li Mu said: "there are traffic and users in the post bar, but at present, there is no good way to cash in the post bar, so I believe that capital itself will not be very optimistic about the post bar; the game mode of happy farm is relatively soft, which can't match the game of miracle and legend in intensity, and the game itself is free, and the profit space is naturally no match After the charge game, similarly, the capital will not be very optimistic about it. When we sell shares for financing, it's the same as selling things. If the buyer doesn't approve something and the price is low, then why should we sell it? "

Ding Zhenglin nodded: "then I'll go to talk to Sequoia and Softbank about the value of YY 15 billion."

"Good." Li Mu said: "if we have reached an agreement, we will separate the post bar and register a pastoral culture separately; we will separate the happy farm and the game development team and register a pastoral entertainment separately. The share structure of the two companies completely copies our current share structure, and the shareholders and shareholding ratio remain unchanged. But after the split, the two companies will carry out independent operation in the future Make and finance separately. "

"In this way, we will be able to advance, attack and defend in the future. If we attack, we will find a way to let the two companies split up be listed independently; if we keep it, we can also use Makino technology to re merge the two companies split up through capital operation, so that we can not only enhance the strength of Makino technology as a whole, but also avoid taking advantage of round C financing venture capital. At that time, these two companies without their shares will not When they come in, they have to pay an extra price. They either dilute a part of the shares or take money to make up the difference. "

Li Mu's attack and defense plan has been approved by everyone, and everyone knows that at present, the post bar and game business are not worth money in the eyes of outsiders, but in their own eyes, the development potential is very large.

At present, the core team of Muye technology doesn't know Li Mu's plan for microblogging in the future, only that the next incubation task of the post bar is blog, and the blog has been developed, which will be developed soon.

Although some people have tried this product before, because there is not enough traffic city, no strong platform appeal, no well-known self media subject, those people have not been able to make the blog, but now there are a lot of high-quality content in the post bar, as well as a lot of Mingxing resources, once converted to the blog, they can create a lot of attention at once We can say that the post bar has cultivated the soil for the blog except for the absolute Fengwo. As soon as the blog comes out, it will definitely catch fire, and it will catch fire.

In fact, in Li Mu's view, both the blog and the micro blog are facing a huge problem in the development process: to be good or not to be popular is to say that there is no good cash flow mode, with large flow and fame, and just don't know how to make money.

For a portal website with an average daily independent visitor of more than one million, if it only sells advertisements, its annual revenue will be great, such as hao123 before its acquisition; however, if it is an e-commerce website with an average daily independent visitor of more than one million, its annual revenue can be easily achieved by tens of billions, and the real difference between the two is the way of realization.

But this is not a problem for Li Mu, because Li Mu has prepared a perfect cash channel for the blog and the future microblog - Taobao.

After a certain period of time, the future microblog has begun to develop in the direction of new media e-commerce. If not for the emergence of wechat friends circle, tens of millions of "wechat army" will surely take root in microblog.

Li Mu doesn't want to create a "micro business army", but new media e-commerce is a very effective development direction. Once the blog becomes popular, it will gather a large number of users, and try to guide these users to Taobao for consumption, which is the most important thing for the future realization of blog.

In other words, in the future, Li Mu has basically decided to give all the advertisements to Taobao. E-commerce is realized directly and has a high conversion rate, which is much more effective than other Internet advertisements.

Moreover, blog itself is a new type of self-Media. Users here, a small number of people create high-quality content, and a large number of people pay attention to and digest high-quality content. In this case, blog can guide a group of people who are good at doing content or influential people to directly try content e-commerce.

For example, let well-known makeup artists open a blog to explain makeup and recommend cosmetics and makeup tools of Taobao cooperative enterprises. While learning, her audience can directly generate purchase desire for her recommended products through her guidance, and the links attached to the blog can directly let these fans jump to Taobao to complete the purchase;

for example, let well-known fans The fashion magazine of taobao.com launched a blog, regularly recommended the clothing collocation of various cooperative enterprises, and the users who saw it were interested in a certain clothing, and they can also buy it directly on Taobao by clicking once;

Taobao shopkeepers can promote products on the blog, and well-known bloggers can also open stores on Taobao. In a word, the two links can be completely connected, and the resources at both ends can be exchanged And mutual transformation, mutual promotion and common development.

This is where the big ecological forces are. In the last life, when Sina ran its blog and microblog, there was no taobao.com to cash in for them, but now, the blog and Taobao are Li Mu's