Chapter 1083

Due to Li Mu's toughness and the rising status of the whole pastoral technology in the Internet industry, Sequoia finally gave up the routine assignment before financing, and directly signed a contract with Li Mu in pastoral technology!

Thirty three billion dollars, the dust is settled!

Li Mu's strength makes Sequoia and the whole venture capital circle feel great pressure, but the capital field itself is who can make money and who is the father. Li Mu happens to be the one who can make the most money.

When Mark Zuckerberg founded Facebook, hundreds of thousands of dollars of financing were hard to get. But when he pushed Facebook into the formal market, the rich overseas flew to the United States to ask him to invest in Facebook at a high premium and voluntarily give up all voting rights, which is the change of status in the capital industry.

A contract has finalized the valuation of Makino technology for us $33 billion and the largest financing in the world's Internet industry by the end of 2002.

However, the valuation at this time is much higher than the previous one. After all, no matter how high the previous valuation is, no shares have been successfully transferred at that valuation price. However, now it's different. Sequoia's contract has used $3.3 billion, which confirms the valuation of wild science and technology of $33 billion.

When the contract is signed, the whole technology of Muye is in full swing.

Both colleagues in the United States and Yanjing are excited about the company's surging valuation and huge financing. The atmosphere is much more exciting than the new year.

Although Muye technology didn't get the money immediately after signing the contract, the whole Internet industry and venture capital circle were all bombed.

We know that Muye technology is very powerful now, we know that YY users have exceeded 200 million, we know that YY has started to "center" development, but we didn't expect that YY's valuation could be so high.

Thirty three billion dollars! This has been a record overestimation of Chinese Internet companies, and it can be among the best in the entire Internet industry in the United States.

However, the statistics of capital is relatively rigorous. Although Sequoia has given a valuation of $33 billion to Muye technology, no media has listed Muye technology in the market value rankings of Silicon Valley and the world's Internet enterprises, because those enterprises that are really on the list are basically all listed enterprises, because for the media, only after the listing of enterprises Only then has "the market value" this concept.

On the whole, the market value has the highest gold content, followed by the actual financing valuation. The valuation of more than 30 billion US dollars of Muye technology has made it fully into the pyramid of the world Internet industry.

Media all over the world are paying attention to the financing of Muye technology, just as Alibaba bar was listed in the United States in the last life, and the world is paying attention to its market value breaking through 200 billion and 300 billion US dollars.

Overnight, numerous media published a large number of special reports on the c-round financing of Makino technology and Sequoia, which made Makino technology a global hot topic for a while. Some day in the future, the behoove of

media in Makino has different views on the valuation of the thirty-three billion US dollar in the science and technology of Makino. Most of the views are shocked. Some of the views are taken for granted. A small part of the view is that the bubble of the technology is too big and frightening. If the bubble breaks down one day, it will become the biggest news in the Internet industry, and even lead to a chain reaction, leading to a new round of interconnection. Net bubble burst.

However, no matter what kind of voice, it can't hide the light of Makino technology at this moment. The whole world has turned its attention to Makino technology. Only in Asia, more than one billion people are paying attention to every step of Makino technology financing.

The Chinese people are the most exultant in the field of science and technology. In China, the attitude of more than a billion people is highly unified. There is nothing but pride.

At the same time, the Chinese people's praise of Li Mu once again reached a new high point.

Li Mu hopes to be the business card of China's Internet industry, or even the national business card of China. Now it seems that he has achieved this goal.

Herdsman Li has not returned home, but domestic reports on him are not just overwhelming.

Since his speech at Harvard University, Li Mu's every move in the United States has been closely watched by Chinese media, and he has been tracking and reporting everything in detail, so that Li Mu's current exposure in China is even more than that of the entire entertainment industry.

Just when everyone hoped that Li Mu could stand up and make a voice at this time, Li Mu, who is still in Silicon Valley, came to Lin Qingya to discuss with Kong Lingyu, who is in Yanjing, about a new round of financing from afar.

However, as soon as Li Mu came up, he first put forward the core idea with the two people: "this time we will not discuss enterprise development and strategic planning, but only discuss two issues: first, employees' cash reward; second, employees' option pool preparation."

After the success of financing, the valuation of Muye technology will continue to rise soon. If there is significant strategic development in the next one to two years, IPO can be considered basically. Once the IPO of the company is successful, it is time for shareholders and employees of the company to harvest fruits. Now core employees have certain shares. Although the financing is slightly diluted, the overall market value is still low It's very gratifying, but it's just the core management personnel. Although ordinary employees have all kinds of perfect welfare benefits, the issue of options has not been prepared. Now it seems that it's time.Li Mu's proposition is that before the company goes public, it should prepare a certain share proportion as an option pool, and complete the distribution before going public. In this way, once the company goes public, the employees' options will be converted into the company's shares, and they can exercise their own rights and cash in the stock market.

Kong Lingyu and Lin Qingya have no opinions on Li Mu's option pool plan. They have worked with Li Mu for more than a year. Now they are billionaires with theoretical value of over 100 million. Their blind worship of Li Mu has almost reached a peak.

Therefore, Li Mu has made a plan. At present, he holds about 70% of the shares of Makino technology. After 10% of the shares are diluted, there is still about 65% left. Therefore, he is willing to take out 5% of the shares and charge them into the option pool. According to the current valuation, the overall value of the 5% is more than $1 billion 500 million.

Song Liang, Chen Ze and Xu Jiaming are all investors of Muye technology. If they have capital to come in, they can dilute equally. But Li Mu, the option pool, knows that he can't find them to carry forward his style. Lin Qingya and Kong Lingyu have very few shares in their hands. It's not fair for them to donate some more.

Therefore, Li Mucai decided to set up an option pool with 5% of his own shares, and then split the 5% shares into 50 million original shares in the form of 10 million original shares per percentage point. 50 million original shares are the employee option pool of the whole Muye technology for a period of time in the future.

After setting the total number of option pools, Li Mu asked Lin Qingya to take the lead in formulating an option allocation rule, which should be formulated according to the time of each employee's entry, the level in the company, the contribution in the company, KPI assessment, special contribution and other dimensions, to make clear how many corresponding options can be obtained if they meet different conditions, and when they are needed for option exercise Room.

Fifty million original shares are not a few, so Li Mu asked Lin Qingya: "at present, there are only more than one thousand employees in our company, so you need to distribute the options in the option pool reasonably. You can't spend them all at once, just like saving, you need to have control."

Lin Qingya nodded: "don't worry, Mr. Li. I understand that."

Li Mu said: "my idea is that at this stage, we should first take 10% out of the option pool, that is, five million shares, and allocate them to more than one thousand of our current employees. When our employees break through three thousand people, we should take out another 10%, break through five thousand, and take out another 10%. Before we go public, we should take out another 20%, and split half of the option pool. The remaining 50% will be slow after the company goes public Slow distribution to new colleagues who join later. "

Kong Lingyu, in the video conversation, said: "boss, 5 million shares for one thousand people is very high. Now the value of each share is 33 dollars, which should be about 270 yuan. Even if one employee gets 1000 shares, it's more than 200000."

Li Mu smiled and said: "Lingyu, the value of options is not so calculated."

Kong Lingyu and Lin Qingya in the video look at Li Mu.

Li Mu said with a smile: "you see, at present, although our valuation is $33 billion, we split 5% of the shares into 50 million shares, each of which is indeed $33, but before we go public, options are not allowed to exercise. All employees want to cash out and wait for us to go public. After we go public, the value of this option must be far more than $33."

Li Mu explained: "although each original stock in the option pool is worth $33 at this stage, its actual value is not measured by money. You should remember that, according to our decision, the actual value of each original stock is one billionth of the actual value of the company."

"If our future valuation continues to improve, before we go public, the market value may reach US $80 billion. After we go public, the market value of the company may exceed US $100 billion. At that time, it will be the window for employees to cash in their options. Each original stock of options is equal to the stock of the company with a value of US $1000. For example, If our stock price after listing is $20, the actual value of each original option is $1000. After our listing, each original share held by employees will be directly converted into 50 shares of the company. "

Kong Lingyu nodded, laughed at himself, and said, "boss, I'm from the wild road family. To be honest, I don't know how to play options, especially after listing."

Li Mu said with a smile, "it doesn't matter if you don't understand. Just do a good job of the business you should be responsible for. This part doesn't have to follow the rules of the industry. We can make it ourselves."

Lin Qingya asked at this time: "Mr. Li, if we divide 50% of the option pool, what should we do with the remaining 50% after we go public? Is it directly converted into shares of the company? "

Li Mu nodded and said, "yes, we give options to employees before listing, and then we directly give shares to employees after listing. In the future, as I just assumed, our total share capital after listing is 5 billion shares, and the remaining 2.5% in the option pool will directly become 125 million company shares. "

Li Mu said: "after we go public, in order to attract talents, we need to set a stock quota for middle and high-end talents. For example, when P7 technical talents come in, we will give 5000 shares of the company in addition to salary and treatment. 5000 shares can be worth tens or millions, but the exercise of these 5000 shares should be limited in time, in several years Exercise the power to bind talents with the company for a long time. "Lin Qingya nodded his head and said: "I understand Mr. Li, we will then limit the total exercise period to three years. After one year's formal employment, employees can have one exercise opportunity. The total exercise amount shall not exceed one third of the total number of shares; after two years, the exercise will be one third; after three years, the exercise will be the remaining one third."

……

PS: I'm too tired. I owe you a chapter tonight. I'll try to make it up tomorrow.