Rebirth in a Perfect Era Chapter 841: With or without capital?

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Sitting on the plane back to Yanjing, Li Mu has been thinking about the suggestions and reminders given to him by Zhao Xianliang.

Before I talked about these with Zhao Xianliang, Li Mu has always had a "great wish" that is slightly acting cool: no more financing after the Muye Science and TechnologyB round, directly looking for opportunities to go to the United States for listing, but now think about it, this idea is indeed at the capital level It looks childish.

Listing is indeed very attractive, but the low frequency of financing before listing has no practical impact on the fundamental result of listing, and it has no practical significance. Choosing less financing is equivalent to adding difficulty to the game. And after customs clearance, you can't get any extra rewards, and you can get a sentence from other population at most: "Fuck, true awesome!"

previous life Many domestic internet companies are developing very fast, and the number of financing rounds cannot be overwhelming. awesome companies can fuse three rounds a year, one round on New Year ’s Day, one round in the middle of the year, and one round at the end of the year. Financing is like the fighter plane continuously opening the rear combustion chamber to increase afterburning, and the fuel consumption is extremely fast, so the frequency of fuel replenishment is extremely high, but the biggest advantage is the speed, the rapid advancement of non-stop, with shares for development Capital, the ultimate pursuit is a higher market value and higher market share.

The domestic internet industry is still a bunch of small saplings at present. I am the strongest of the small saplings. But think about it, you must not underestimate this small sapling, because most of them There are strong capital relationships behind them, and without exception, all are overseas capital.

Li Mu currently has no overseas capital for cooperation. If you want to open the overseas market in the future, if there is no foreigner leading the way and opening the door, how many detours will you take? Think again, if you have a strong overseas capital relationship, once you want to enter the overseas market, these profitable investment banks will do everything they can to help them attack the city, this feeling must be very cool.

And, as Zhao Xianliang said, capital is more than just a matter of money. Capital is a powerful ally, not only can it provide firearms and ammunition, but also provide fire support for the trinity of land, sea, and air. In the future, there will be tough battles to fight before the war. If you look for an ally, I'm afraid it's a bit rushed.

Thinking about this layer, Li Mu will go back and discuss the planning of corporate financing after system research, not only Muye Science and Technology, but also Taobao network + Taobao Logistics.

The Taobao network now has a book profit. That is because he first arrived on the battlefield. The enemy is still buying equipment in his own blood fountain. It will not be killed in a while. Once the Business fighting officially begins, the money-burning mode will be rapid. Start, otherwise how to deal with the invasion of so many domestic entrepreneurs, as well as overseas capital and overseas companies?

And Taobao Logistics has also begun to enter the stage of large-scale procurement. Various purchase orders are being placed. Liu Qiangdong is also actively promoting the construction of the six major logistics warehouse bases in the country. In addition to the demand for meals, the investigation team sent by Taobao Logistics to Germany has also established an excellent personal relationship with Germany Beumer through show off and money, whether to use the automatic sorting and automatic storage solution of Beumer, said The problem is money.

The internet industry is actually playing with capital to a large extent, and even using capital to change magic. One hundred million is put in front of the audience. The fire is burned. When the sky is full of ashes, the magician snaps his fingers. This pile of ashes may be It will become a billion dollars in front of you.

Instagram sold 1 billion USD a year and a half, and Li Mu as a rebirth, so many advanced products and operational thinking, and work hard to make this booth career, but now the real set of money is less Very little.

The valuation is high, but without the capital to take over, the valuation is just an imaginary number.

Since the industry has been rumored that the valuation of Muye Science and Technology has broken through 10 billion, then it will be a round of C, and it will really transfer some of the shares at a valuation of 10 billion, so that the rumor of breaking the 10 billion valuation is completely true!

......

So, on the second day after returning to Yanjing, Li Mu came to Muye Science and Technology. Before anyone arrived, he had asked Lin Qingya to call the core team to gather in the meeting room to prepare for the meeting.

For the core team members of Muye Science and Technology, Li Mu disappeared for two consecutive days on Monday and Tuesday. This situation is very rare. Even if Li Mu is busy again, it will take time every Monday and Tuesday, even at night , But two days have passed since this week, he did not show up once.

When Li Mu came to Muye Science and Technology, the core team members had all been waiting in the conference room. They intuitively believed that Li Mu disappeared for two days and had to convene a meeting before it appeared. There should be a very important event.

Sure enough, Li Mu walked into the meeting room and said hello to everyone, the In short is: "Today everyone is so anxious to let everyone come to the meeting, in fact, there is a major decision that needs your help."

Everyone looks at Li Mu, holding their breath.

Li Mu has a slight meal, slightly adjusted, and said one by one: "I am considering whether to start the Muye Science and Technology round C financing, what is your opinion on this decision?"

The In short of Li Mu can be said to stir up a thousand waves.

Financing? For any company, no one except the boss and major shareholders will refuse to raise funds.

For the company, financing means that more Qian Jins are coming, and the core management personnel of the company are sitting, which is equivalent to the generals of the army of Muye Science and Technology. They naturally want to expand their military strength. More soldiers and more advanced weapons and equipment can attack larger opponents and fight bigger battles. Step by step recruiting and buying horses is slow. After all, financing is equivalent to injecting a large wave of mercenaries in one breath, and the entity can be quickly upgraded.

In addition, for these core leaders, financing is also an opportunity for them to cash out.

There are only a few options in their hands. These options have not been cashed out. According to Li Mu's regulations, the core team with options can cash out one third each year, like Kong Lingyu and Lin Qingya. Cash out, if capital comes in, will update the company's valuation. If they have the willingness to cash out, then the company can naturally let them cash out part of it.

So, overall, the core team has no reason to refuse financing.

although is very positive about financing, but the core team is still very surprised. Did n’t Li Mu say before, did it stop financing after the B round? Everyone is still waiting for him to lead you to a awesome drama that was directly listed after the B round. didn't expect he actually began to consider financing.

Li Mu allows everyone to express their opinions freely, and Lin Qingya asks everyone ’s doubts: "Chief Li, why is it necessary to start the C round of financing now? With the current scale of Muye Science and Technology, the status of product operations and our influence in the China internet industry Even if it is now listed on NASDAQ, the difficulty is not too big. Looking at CDC, Sina, NetEase and Sohu, we are much stronger than them in terms of product scale and revenue scale. "

Li Mu shrugged his shoulders and said helplessly: "Qingya, you are right. If we want to go to Nasdaq to ring the bell now, it will not be long before we can really stand on the Nasdaq clock. It ’s coming, but we ca n’t ignore a problem. ”

Speaking, Li Mu sighed and said: "If we start the rhythm of listing now, no one will endorse us in the US capital market."

The endorsement theory is not yet popular. Everyone will not understand the meaning of Li Mu for a while.

Li Mu saw everyone's doubts and explained in depth: "Endorsement, to put it plainly, is like reciting the text, to tell others about our situation, including how much awesome we have and how much potential we have, which is equivalent to Marketing. "

Pause Li Mu again: "There are many factors in the capital market reference, the book data is only one of them, but the market prospects and development potential are not effectively reflected in the book data. I made a million in this year ’s book, capital I believe at most I can earn two million next year, but if I state that I can earn 20 million or even two hundred million in the year, will the capital market believe it? "

The crowd is silent.

Li Mu said: "Look at your expression, you should not believe it either."

Everyone nodded.

Faithlessly, how big can the bubble blow, can it be seen just by looking at the vital capacity? of course not.

The vital capacity is only a minimum reference standard, but everyone knows that the bubble blown by the vital capacity alone is not much bigger, but in case of a gust of wind, it is possible to blow a bubble larger than a person, But the latter is obviously not convincing by self bragging. Who will believe it when we say it? Zhuge Liang is such a awesome character, he said he can borrow Dongfeng, who really believed him when the wind did not come?

At this time, Li Mu also said: "If we have a purposeful first, find a strong investment bank cooperation from the US capital market, after the C round, the listing will not require us to live in the United States. I ’m familiar with people everywhere and bragging about it. By relying on the endorsement of the investment banks we cooperate with, we can get the approval of the capital market, and the listing should be done by then, so the key to our discussion today is: whether to play with capital or not ? "

Everyone basically understands the intention of Li Mu's, and the bullman Ding Zhenglin he dug from Sequoia capital said impatiently at this time: "Chief Li, if we really start the C round of financing, there will be a lot of investment banks swarming with cash Yes, then all you need to consider is who ’s money. ”

Li Mu said with a laugh: "Old Ding, you came out of Sequoia, what do you think if we take Sequoia money?"

Ding Zhenglin seriously said: "I think Sequoia is the best choice right now, for three reasons."

"First, Sequoia has been developing for the longest time in China. Not only does it understand the situation of the China internet industry, but also has invested in many China internet companies with sufficient experience;"

“Second, Sequoia is directly the top venture capital institution in the United States and has a strong influence in the world. The most influential one is the United States. If we cooperate with Sequoia, Sequoia's capital operation capabilities, we will be able to obtain the greatest recognition from securities firms in the future when we are listed in the United States to achieve the best results; "

"Third, China Sequoia's eyes have been running after you, not only Muye Science and Technology, but also Taobao. Even now, they have been contacting me to inquire about our recent financing plans."