v3 Chapter 760： Interests first

Seeing the violent veins on Robert Swanson’s neck and the tendency to stop the conversation from anger, Xia Yu immediately said: “Actually, you can listen to my terms. You hold 25% of the equity. Our company is willing High premium, 35 million US dollars invested!"

"After three rounds of investment, you have invested a total of more than 300,000 US dollars, and you have gained more than a hundred times the profit!"

Robert Swanson was stunned when he said this.

And Harry Morrison also shrank his pupils, and the inner resistance instantly collapsed.

Buying 25% of the equity for 35 million US dollars is equivalent to valuing Genentech at 140 million US dollars.

Now Genentech’s total assets are only about 2.5 million US dollars, and the annual net profit is negative. This valuation is already very high.

Although the outside world is generally valued at US$100 million to US$150 million, they know in their hearts that this valuation is also the price after listing.

Genentech is already in the process of going public. They made internal estimates and looked for investment banks. The offer price that investment banks are willing to give is very low, which is based on a guaranteed market value of US$100 million.

At this time, the valuation given by Xia Yu was much higher than that of investment banks, which was equivalent to a 40% increase in stock price after listing.

And they don’t need to wait another half a year, nor do they need to lock up the stocks for a year. They can get the money in advance to invest in the companies they want to invest in, without having to take many risks!

Although there is still half a year, maybe Genentech will perform better and greatly increase the issue price, but this is not absolute.

Because Professor Herb Boyle is still engaged in research and development, Genentech has never been on the market. For scientific research, there are too many unknowns, and skipping votes is normal.

If Professor Herb Boyle did not develop the results on time, the patents that have been developed now are not enough to support Genentech’s ultra-high valuation.

The reason why Genentech’s valuation is so terrifying is precisely because the capital market has extremely high expectations for Professor Herb Boyle. Once this expectation is dashed, the bubble will burst!

As for whether they have confidence in Professor Herb Boyle, Harry Morrison and others will definitely say yes to outsiders, but they can't say whether they actually have it.

Experiments, scientific research, the probability of yielding results is too small, and it takes countless failures.

Throughout the ages, many scientific research results have appeared under unexpected circumstances.

Seeing the three of them hesitating, Xia Yu was sure in his heart and continued: "Mr. Morrison, Mr. Swanson, we are here to negotiate with you sincerely, and we are holding a win-win attitude. I can talk to you calmly. Said that our Polaris capital is strong, we have the ability to take the risks of Genentech, and we have the patience to wait."

"And you, Coller Perkins, need to give investors an answer. Their patience may not be very good. For Coller Perkins, it is best to specialize in angel wheels and A Round of venture capital, just like now, as long as you make one investment, you can get a hundredfold profit."

"As for us, investing large sums of money will also make a lot of hard money. We are very happy to be able to double it."

"You might as well think about it. We'll go back first and come back in the afternoon."

After speaking, Xia Yu took a sip from his teacup, got up and took someone away.

Harry Morrison sent Xia Yu and others out of the door unwillingly, then returned to the office, closed the door, and said solemnly, "You all heard it just now. What do you think?"

After speaking, Harry Morrison cast his sights on Robert Swanson.

As for the other person, Colin Hicks also subconsciously cast his sights on Robert Swanson.

In the Coller Perkins company, three people are the core, among them Harry Morrison and Colin Hicks are the founders.

And Robert Swanson, step by step from a low-level partner to where he is today, based entirely on his personal ability, and it was Genentech that was carrying him to his current position.

Whether or not to sell the equity, Harry Morrison has direct rights, but for the stability and unity of the company, he wants to give Robert Swanson some respect.

As the CEO of Harry Morrison, some things are hard to say, but Colin Hicks is an old partner with him. Naturally knowing the attitude of his friends, he took the initiative to stand up and say: "After nearly four years, we have invested a total of Genentech is $367,000. If we follow the price of $35 million from Polaris Capital, we will get more than ninety-four times the profit."

"And this is only their first bid. As long as they continue to talk, the price will be higher, at least more than 40 million US dollars!"

"And the total capital of our company now is 47.2 million US dollars!"

Speaking of this, Colin Hicks stopped talking and drank slowly with his coffee.

Robert Swanson's face changed constantly, and his heart clashed fiercely.

He knew that what Colin Hicks had said was for him!

After a long time, he said in a hoarse voice: "Professor Herb Boyle trusts us very much. If we sell the equity to Polaris Capital, he may not accept it!"

"And I have great confidence in Genentech. I believe that after another six months, Professor Herb Boyle's research and development will produce results, and the market value of Genentech will not be low!"

After speaking, Robert Swanson looked straight at Harry Morrison.

Harry Morrison sighed, looked at Robert Swanson, and said frankly: "Robert, to be honest, Mr. Xia's reason and price just moved me."

"He has a sentence that awakens me. We are only small roles in venture capital companies. Now we specialize in angel rounds and A rounds, which are the best for our company. When we first established the company, Colin and I It was the same decision, but later you discovered Genentech, which far exceeded our expectations. We followed the B round, but we were not strong enough to continue with the C round."

"Fortunately, Genentech has developed fast enough to skip financing and choose to go public, otherwise we will face a choice."

"But now, suddenly there is a choice. I think we have to face it. This is not only about investing in a company, but also about the strategic positioning of the entire company. This is the most fundamental thing!"

After talking for so long, Harry Morrison paused, took a sip of coffee, and said quietly: "Robert, I know you have a good relationship with Professor Herb Boyle, but he is obsessed with scientific research. People, I believe that as long as you explain to him, he will understand us."

"Even if we don't withdraw now, after the company goes public, we still have to choose to withdraw. This is the result that cannot be changed. The only difference is the time.

After Harry Morrison finished talking the whole office fell silent, and no one spoke for a long time.

After a long time, Robert Swanson finally figured it out. He sighed, nodded and said: "Harry, you are right, it is indeed more beneficial to the company to quit now. I will follow your decision and I will try my best to follow Professor Herb Boyle explained."

Upon hearing Robert Swanson say this, Harry Morrison and Colin Hicks both smiled.

Harry Morrison smiled and said, "Robert, thank you for your understanding. After the transaction is completed, you will receive a generous bonus."

Robert Swanson squeezed out a smile and thanked: "Thank you!"

Colin Hicks clapped his hands to draw the attention of the two of them and said, "Good folks, congratulations on our internal agreement."

"Next, we should discuss how to negotiate. Don't forget that Polaris Capital will come back this afternoon. The young Asian is not a simple character. The three of us were speechless by him."

Harry Morrison smiled confidently and said, "Colin, don't belittle ourselves. Just now because we didn't have any preparations. In the afternoon, the initiative was on our side."

Colin Hicks smiled and said, "Haha, that's correct, but we still have to prepare."

"Strive to sell the equity for a higher price!"

Robert Swanson said fiercely: "This is a must. It must be sold at a good price. This contains several years of my hard work!"

"Hahaha..."

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