Chapter 1031

At and Eric.Hanks Before the meeting, Li Mu met with representatives of two Silicon Valley venture capital institutions in Lin Qingya's office. However, in the process of meeting with the two venture capital institutions, Li Mu didn't talk about the financing issues too deeply. In the limited time, most of the time, he was careless with representatives of the two companies.

Li Mu doesn't doubt that most of the Silicon Valley venture capital can get more than one billion dollars, or that most of the Silicon Valley venture capital will be willing to invest in Muye technology, but now he is choosing partners. The capital brought in by the c-round financing of Muye technology is very important. Just having money is far from being a partner in the next strategic stage of Muye technology.

After chatting with representatives of the two companies for a long time, the representatives of the two companies could not help but try to ask Li Mu for the business plan of c-round financing of Muye technology.

A normal business plan will not only state the company's current development scale, business progress, revenue situation, the resume of the core team, but also the intention valuation of enterprise financing. If you get the business plan, you will get the target price of this financing.

However, Li muyigen did not prepare a business plan for the c-round financing of Muye technology.

In other words, Li Mu doesn't have a target price that can be written on paper at all. His target value is more than 20 billion US dollars, but this value still needs to be supported by his subsequent major actions. Otherwise, if he takes out this target price now, he will scare all venture capitalists. The premium ratio is too high, which will make the market think that he is over inflated.

Therefore, Li Mu, under the questioning of the representatives of the two companies, probably gave an entry condition, that is, the ideal valuation of Muye technology is more than $17 billion. First, we recognize the guaranteed valuation of $17 billion, and then we will sit down and have a in-depth discussion.

Starting from 17 billion US dollars, this fantastic offer really scared the representatives of the two enterprises. In recent years, Muye technology has made great progress, but after all, Muye technology has been split up. Now the booming "Paradise town" has been separated from Muye technology in the book, so the running water of "Paradise town" cannot be directly used To calculate the valuation of Muye technology, even if we want to calculate the additional influence of Paradise town in the valuation of Muye technology, there is absolutely no such high premium space.

At present, the market's relatively calm valuation of Muye technology is about US $15 billion to US $16 billion. The reason why there is a floating space of US $1 billion is not that the valuation of US $16 billion is also relatively calm, but that the valuation of US $16 billion requires YY to make a breakthrough in recent business.

if the YY can be more developed in the near future, or if PayPal can make greater breakthroughs, then the capital side will make certain buoyancy to the valuation of Makino's technology. The floating space of US $one billion will be enough to see how optimistic the Makino technology is when the Internet bubble just burst.

However, as soon as Li Mu opened his mouth, he raised the threshold of admission tickets to the level of 17 billion dollars, which scared the other side.

At any time, capital is prudent. Behind every seemingly large investment, there are no in-depth investigations and discussions in the bone marrow of enterprises and industries. Investors should not only measure the current scale and revenue of enterprises, but also analyze the future development space of enterprises. Most importantly, they should estimate and control risks, even if they are all We know that the probability of success of Muye technology is not small, but everyone is worried about the detour of enterprises in the process of decision-making, and more worried about the sudden cold of the industry.

Internet industry is the concept of selling, and a large number of companies with high market capitalization are largely supported by concepts. If another tragedy of the Internet bubble burst, then no capital will be paid for the capital in the market. When these high value Internet Co are bound to collapse, even Makino technology will not be spared.

As soon as the 20 minute meeting time arrived, the representatives of both companies left with deep shock. The $17 billion threshold required them to report back to the company as soon as possible to see how the top management decided.

After seeing off two groups of people in succession, Li Mu had a short rest in the office. At 10:25, Lin Qingya knocked on the door of the office and said, "President Li, the Redwood people are here."

Li Mu nodded, "please come in."

Eric.Hanks Under the guidance of Lin Qingya, I went through the corridor to Li Mu's office door, which has experienced a long time Eric.Hanks He has played an important role in numerous investments, and he has been able to deal with these meetings and negotiations as easily as he used to, but what he didn't even expect was that at this moment, he was a little nervous.

There are many people who can make a company worth more than 10 billion dollars in Silicon Valley, but Chinese people and Chinese Internet companies have never reached such a high level. What's more, people who can do this step at the age of 20, no matter what race or country, have never seen one of them. In front of this door, they are sitting here Legendary young people, so Eric.Hanks Involuntarily nervous, because he subconsciously felt that he would witness a history.Lin Qingya opens the door of the office and brings Eric.Hanks Come in and say to Li Mu, "Mr. Li, this is the vice president of Sequoia Capital Eric.Hanks Sir. "

After all, Lin Qingya uses English again Eric.Hanks Say:“ Mr.Hanks , this is Mr. Li Mu, CEO of Muye technology

Li Mu stands up from his desk, walks out and laughs Eric.Hanks "Nice to meet you Mr.Hanks 。”

And then I came Eric.Hanks Beside him, Li Mu reached out and shook hands with him, Eric.Hanks Also politely replied: "Mr. Li, I have heard a lot about you in the United States, and I have been looking forward to meeting you. Thank you for your time in your busy schedule today."

Li Mu smiled and said, "Mr. Hanks doesn't have to be so polite. Our meeting is for the opportunity of common development, so we can't thank you."

Eric.Hanks He nodded and said with a smile, "Mr. Li is right. Common development is the core concept we all pursue."

Li Mu invited him to sit down in the reception area, and then said: "Mr. Hanks, I should have taken the time to visit in person, but when I first arrived, many things haven't been dealt with yet, please forgive me."

Eric.Hanks I know that Chinese people like to talk politely, but I didn't expect to be so polite. "Mr. Li came to Silicon Valley for the first time. Sequoia has been established in Silicon Valley for many years, and it's half a host. Naturally, I would like to take the initiative to come to the gate. I originally wanted to invite you to dinner yesterday. Although Silicon Valley is a high-tech industry, there are several very bad ones near Stanford University The wrong specialty restaurant, one of which is called the best in the state. If you are interested, we can make an appointment to try it. "

Li Mu nodded and said with a smile, "well, if you have time, you must go and have a taste together."

With a sigh, Li Mu said, "but in recent days, we may be busy. Muye technology has just started in the United States. Team building, product operation and market development all need a lot of time and energy. So we need to postpone the meal. Please forgive me."

Eric.Hanks When Li Mu talked about his work, he smiled quietly, and immediately followed Li Mu's words to open a formal topic: "Mr. Li, the performance of Muye technology in the U.S. market makes the whole Silicon Valley stand out. With the strength of Muye technology, I believe that the day when it will eventually become the world's top Internet enterprise is only a matter of time That's all. "

Eric.Hanks After saying this, I paid attention to Li Mu's expression. Seeing Li Mu's smile, I continued: "Mr. Li, it's very important for any company to open up territory. In many cases, the time required for opening up territory is inversely proportional to the money spent. The more money spent, the shorter the time required, and vice versa. Our development philosophy of Sequoia Capital is to help all enterprises better use money for time. The shorter the development time is, the larger the development space of enterprises will be naturally. "

Li Mu said with a smile, "that's natural. Sequoia's reputation is praised by numerous enterprises in the industry. You have helped many Internet start-ups grow rapidly and made great contributions to the development of the Internet industry."

Eric.Hanks "It's not about contribution. Everyone is taking what they need. We don't have a real project operation team. Because of this, we can only look for potential projects and teams everywhere, invest in them, make them develop better, and bring us better capital return."

Saying, Eric.Hanks Looking at Li Mu, he said seriously: "Mr. Li, Sequoia has always paid close attention to your Muye technology and Taobao. We also know that you have been looking for suitable partners for the c-round financing of Muye technology. As a senior venture capital company in the Internet industry, we are very eager to become partners in the capital field of your two companies. Please contact us Letter, Sequoia can bring you not only strong financial support, but also endless resources of the U.S. capital market. Even when you plan to go public in the U.S. in the future, Sequoia can also provide strong support for you and your enterprises. "

Li Mu nodded his head seriously and said with a smile: "I'm very confident of what you said. At present, Muye technology is also preparing for the financing of round C, and I'm looking forward to establishing cooperation with your company."

Listen to this, Eric.Hanks After a few minutes of relaxed expression, he said with a smile, "in this case, I think we can have a deeper discussion on this issue. Do you know if Muye technology has prepared a business plan for round C financing?"

Li Mu shook his head and said calmly, "we didn't prepare a business plan. I believe you know a lot about Muye technology. In order to save time and improve communication efficiency, we need to confirm a consensus with you before we have a deep discussion."

Eric.Hanks Hastily said: "please speak."

"For the c-round financing of Muye technology, the company's valuation must be more than US $17 billion. If you agree with this, we will arrange a more in-depth discussion immediately. If you don't agree with this, we don't need to continue the discussion on this issue in order to save time for both parties," said Li Mu