Chapter 799

After talking with Sun Tao and Chen Lang, Chen Lang went to southern Jiangsu on the 18th.

The merger and acquisition of Yong'an and changkelong has the best effect.

After all, Runhua didn't think of the power of leap China in the distance.

Li Dong is not sure whether Chen Lang can finish the task.

Although Li Dong didn't say anything to Chen Dong.

While Chen Lang went to southern Jiangsu, Li Dong was not idle.

On the one hand, Li Dong stepped up defense in Jinling area, on the other hand, he secretly contracted the expansion scale.

Before the fixed expansion in Shanghai, Li Dong chose to temporarily run aground.

However, Henan Province can not stop, once stopped, outsiders will be aware of the frailty in the distance.

In addition to these external factors, in essence, Li Dong is still because of money.

In this case, Li Dong had to make a financing idea.

……

Originally, Li Dong was not prepared to personally talk to the major risk institutions.

However, at this time, for the sake of the smooth development of the supermarket, Li Dong could only choose to give in.

If Chen Lang can win the two best, without spending money, it is even better than ever.

But once the money is spent, Li Dong has to top it.

Of course, Li Dong is not all willing to talk in person.

Li Dong finally chose to hold talks with IDG.

On the one hand, IDG had the highest price at the beginning, on the other hand, the other side had invested in Teng Xun before, but it was a pity that this investment did not maximize its capital.

In 1999, IDG invested $2.2 million in Teng Xun's initial venture, and took 20% of Teng's equity.

However, in 2001 and 2003, IDG sold its shares twice, with a total return of more than $20 million.

It is reasonable to say that the rate of return is nearly ten times, which is not a loss.

But who would have thought that Teng Xun's development is faster and faster, up to now, the total market value has exceeded 10 billion US dollars.

If IDG did not let go at the beginning, but persisted until now, even if the shares were diluted later, the proportion should also exceed 10%.

In just three or four years, 20 million dollars will become one billion dollars, which is probably more than all their previous domestic investments.

However, there is no regret medicine to eat, even if the bowel of IDG is green, the past is also in the past.

But now the opportunity comes again, Miss Teng Xun, the distance but rapid rise.

Today's distance than the original Teng Xun foundation are much thicker, the same instant messaging software PP, users are also increasing.

After the mall, happy farm, micro blog drainage and sharing, registered users are approaching the 50 million mark, even better than when Teng Xun just went public.

And PP is only on the one hand, in the distance of the Internet system is not the strongest, distant mall is once more than Taobao.

This can't help but let IDG think of the original Teng Xun, perhaps the original missed, this time can make up for it in the distance.

So when Li Dong promised to come to the meeting, IDG attached great importance to it.

On the morning of the 19th, IDG and his party entered the distant building.

The leaders are not foreigners, but Chinese people.

……

As soon as the two sides met, Li Dong said enthusiastically, "Mr. Xiong, I've heard so much about it."

Xiong Xiaoge has been in his early 50's this year. As one of the founders of IDG and President of Huaxia District, Xiong Xiaoge seldom comes to negotiate in person.

But the distance is different, no more than other small Internet enterprises.

The distance itself has a solid foundation and a large scale. In addition, the remote group is not a small group. Therefore, Xiong Xiaoge came to the negotiation in person.

Although I know that Li Dong is young, I have even seen Li Dong's photos.

But when I see myself, bear pigeon or rise, a year to urge people old, Jiangshan generation of talented people out of emotion.

Li Dong, born in 1985, is only 22 years old.

He was born in 56, nearly 30 years older than Li Dong.

Although IDG has abundant capital, it does not mean that IDG is his. He is just one of the co founders.

In the past, he seldom felt such feelings. After all, at his age, there are not many people who have made such achievements.

However, compared with Li Dong, Xiong Xiaoge has to admit that this is the most successful young man he has seen in recent years.

Feeling for a while, bear dove's face was full of smile and said: "Mr. Li, I should say I've heard so much about it. Mr. Li's name is now well known to all. I heard that Mr. Li was personally present in this negotiation. I came here specially from Shanghai to see Mr. Li. "

"Xiong always laughs. I was too busy before. It happened that there was something wrong with other businesses in the distance during this period of time. I really can't spare the time...""Understand."

From afar and Huarun dispute, bear pigeon is also concerned.

Li Dong is busy, that's for sure, but Xiong Xiaoge is not a fool. He knows that the more fierce the fight with Hua Run in the distance, the better.

The more critical, Li Dongyue needs outside help.

Although they are only talking about financing the distant mall this time, when the money is in the hands of the remote place, they can tolerate the misappropriation for a period of time.

As long as Li Dong is willing to give in, Xiong Xiaoge doesn't mind helping the other party through this hurdle.

The two exchanged greetings for a while, and each side sat down to prepare for the meeting.

In fact, Yuan Chengdao had already talked with the other party several times before. When he first quoted the price, the other party offered the price of 800 million US dollars for distant shopping mall, 500 million US dollars for PPS, 200 million US dollars for 10000 cartoons and 100 million US dollars for microblogs.

Li Dong is naturally not satisfied with the price.

After several talks, IDG made some concessions and raised the price.

However, capital institutions are vampires. It is unrealistic for you to expect them to improve. In the end, the other side only offered us $1.8 billion for the four major businesses in the distant mall.

At the beginning of the meeting, Li Dong said, "Mr. Xiong, we don't talk about the overall business this time. We've opened the discussion.

I will not accept financing for the time being.

These two projects are seriously undervalued and do not meet my expectations.

In addition, these two businesses are in a period of rapid development. I believe that if we wait for another year or two, the value of these two businesses may increase by 10 times or 100 times.

And the distant mall and PP, which are owned by the company far away, are now approaching mature business, and their value is obvious to all. Today, how about these two items

A listen to Li Dong to open the talk, and all of a sudden micro blog and ten thousand cartoon excluded, Xiong Xiaoge immediately frowned.

How about the remote ten thousand card business, now is not easy to say.

However, since the launch of Weibo for half a month, it has spread all over the network.

In only half a month, the number of registered microblog users has exceeded 10 million, and this speed has not slowed down, but is growing rapidly.

Even twitter, which was launched last year, is not as popular as microblogging.

According to this trend, Weibo will soon catch up with Twitter.

Twitter is now valued at more than $300 million. Although microblogging is lagging behind, according to Xiong Xiaoge's estimation, it is only a few months before it can catch up.

They have given a valuation of 100 million, which is not low.

After all, microblogging was just launched at that time, and they were extremely optimistic about microblogging when they could give the price.

Who knows Li Dong is not satisfied yet. At this time, Xiong Xiaoge doesn't know whether he is confident or proud. This guy is so optimistic about microblog business?

After eliminating the two major businesses, Xiong Xiaoge frowned and said, "Mr. Li, in this way, the distant mall and the ten thousand cartoon will be separated, and there will be a lack of business, and the overall value will also be lowered. Are you sure you want to do this?"

Li Dong nodded: "I know these, but even if the overall valuation declines, I don't want to sell it at a low price."

Xiong Xiaoge thinks for a moment, distant mall and PP are the main business in the distance, and the impact is not too big if eliminated.

In addition, Li Dong is determined, and Xiong Xiaoge doesn't say anything more. He just indicates that Li Dong needs time to communicate with the team for a while.

Li Dong smiles and signals them to chat casually. After nearly ten minutes of whispering communication, Xiong Xiaoge says, "Mr. Li, since you have made a decision, we must give a new plan."

"Bear, please."

"The second price we offered for the distant mall was $900 million, but now it lacks the value-added value of vanguard, so we can only give a valuation of 800 million.

On the PP side, it is the same. Your payment business is all supported by ten thousand cards. Now we still offer 500 million US dollars. "

"In addition, there will be some changes in the amount of our investment..."

Xiong Xiaoge talks in a frank way. According to him, IDG invested 200 million US dollars on this side and 100 million US dollars on both sides.

After the restructuring, the valuation of the distant mall reached US $900 million, and IDG had a part of the premium, accounting for 10% of the shares.

And PP side, after restructuring, the total valuation of 600 million US dollars, they occupy 15% of the shares.

This requirement is not too high. After all, 200 million US dollars is more than 1.6 billion yuan. The investment amount is not low and the risk is not small.

After all, the industry has Taobao and QQ in the same industry, even if the distance is the second, it is only the second.

Once the late development is not smooth, business overlap loss, it is likely to collapse quickly in the distance.

The investment of 1.6 billion yuan is not a small amount. Xiong Xiaoge thinks that it is difficult for Li Dong to refuse this plan.

The distant shopping mall and PP, which are still in the development stage, have given an estimate of more than 10 billion yuan. Few institutions at home and abroad should be able to give this figure.When he finished, Li Dong frowned slightly and said, "Mr. Xiong, you should know that Teng Xun's market value has exceeded 10 billion yuan, and their main business is QQ. As for other things, they are incidental.

Therefore, among the 10 billion, QQ accounts for at least 80%

In addition, the valuation given by Taobao was not low when Alibaba raised funds before... "

"No, these are two concepts." Xiong Xiaoge quickly interrupted: "no matter Teng Xun or Ali, they are all the leaders. President Li also knows that in the Internet industry, the most valuable or creative.

To tell you the truth, whether it's a distant mall or PP, it's just a follow-up.

The reason why IDG is willing to give such a high valuation is that you have achieved the present scale.

But there is no need for Mr. Li to understand the risk.

Once you can't surpass each other in a short period of time, the weak in the same product will soon be eliminated, which is a frequent occurrence in the Internet industry.

We take such a big risk, more value or Mr. Li himself.

Because you have created so many miracles... "

Bear pigeon flattered a few words, but Li Dong was not moved.

The investment of US $200 million, accounting for 10% of the mall and 15% of PPS, is really unacceptable to him.

On the side of the mall, he only invested by himself, plus the loss, which was close to more than 2 billion yuan.

Moreover, it has passed through the most difficult incubation period, and now it has shown the scale. At this time, the value is not as simple as doubling, and it is not a problem to double the value.

Even without considering the follow-up development and the possibility of surpassing Taobao in the future, the current mall is also seriously underestimated.

Don't think that 800 million dollars is a lot. It's normal for Internet companies to have high valuations.

Especially to a certain scale, the valuation will grow rapidly, several times, dozens of times or even hundreds of times.

At present, 800 million US dollars is not low, but venture capital is investing in the future, not the present.

No matter how much Xiong Xiaoge said, Li Dong would not agree.

The two sides fought for a while. Xiong Xiaoge was probably unmoved by Li Dong, and finally asked, "what's the plan of general manager Li? Can you tell us? After all, since we sit down to talk, we all hope to achieve a win-win situation.

If it is too different from general manager Li's expectation, it is very difficult for us to accept this. "

Li Dong didn't hide it. He said, "the mall is worth 2 billion dollars, and the PPS are 1.5 billion dollars."

The corner of bear's mouth twitches for a while, and it's more than doubled. Is Li Dong crazy about money?

The total price is 3.5 billion US dollars. For two projects, RMB is more than 28 billion yuan. Is it really inappropriate for money?

So far, in addition to Ali and Teng Xun, which Internet company did not give such a high valuation before listing?

Now it's financing. It's just the first round of financing.

If this price is given at this time, is it not that the valuation will exceed 100 billion RMB before it is listed in the distant place.

If the listing fails to meet the expectations, it will not be a loss.

Venture capital is for high returns. According to Li Dong's algorithm, if these two businesses can't reach hundreds of billions after listing, the investment is not cost-effective.

But is that possible?

Alibaba is now preparing to go public, and the industry has also given an analysis. The market value on the day of listing should not exceed 100 billion.

Does Li Dong mean that he can surpass Ali?

Seeing the expression of bear and pigeon, Li Dong knew that this time it should be a broken talk.

In fact, he gave the mall $2 billion, which was already restrained.

Of course, Li Dong also knows a little, which has something to do with knowing later.

If he doesn't know the development in the future, the offer made by IDG before is actually good, and he may be happy to agree.

However, when you know that it will be valuable in a few years, and others give the current price, will you still be willing to sell it?

Because of this sense of gap, Li Dong has been reluctant to finance.

But now the group has no money, but the other side can not give a high price. Is it really necessary to sell it at a low price?

Li Dong was also a little disappointed for a while. It's really hard to earn some money these days.

Then the two sides communicated a few words, and finally Xiong Xiaoge was not very satisfied with taking people away.

The two sides didn't say that they would not talk about it either. They just couldn't accept the price offered by Li Dong for the time being. Later, they have to go back to do a good research and analysis.

After seeing them out of the distant building, Li Dong also left directly.

Yuan Chengdao several people all some sigh, the boss is too strong.

Even if the distant mall can be worth tens of billions in the future, it is also the future. If it continues to be so strong at present, there is no sufficient capital for development, and it is likely to be caught up by people later.

Ranking second is better. If you fall to the third, even if you are larger, the valuation will not go up.Don't a lot of Internet companies know that their stuff is valuable?

As we all know, the Internet is the fastest updated industry. If you don't have the money to develop, you may be one step behind. In the end, it will be worthless.

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