Rebirth in a Perfect Era Chapter 1031: Seventeen billion USD talks

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Before meeting with Eric. Hanks, Li Mu successively met two representatives of Venture Capital institutions of Silicon Valley in the office prepared for himself by Lin Qingya, but in the process of meeting with these two Venture Capital, Li Mu did not raise funds Things were too in-depth, and in limited time, most of the time I was sloppy with the representatives of the two companies.

Li Mu does not doubt that most of the Silicon Valley Venture Capital can get more than a billion USD, nor does most doubt that most of the Silicon Valley Venture Capital will be willing to invest in Muye Science and Technology, but now he is choosing partners, the capital brought in by the Muye Science and TechnologyC round of financing is very important , We can't be a partner in the next strategic stage of Muye Science and Technology just by having money.

After chatting with the representatives of the two companies for too long, the representatives of the two companies were unable to hold back and tried to obtain a business plan for the Muye Science and TechnologyC round of financing from Li Mu.

A normal business plan will not only state the company ’s current scale of development, business progress, revenue, core team resume, but also the intention to evaluate the company ’s financing. Getting a business plan is equivalent to Get the target price of Li Mu financing this time.

However, Li Mu simply did not prepare a business plan for the Muye Science and Technology Series C financing.

In other words, Li Mu simply does not have a target price that can be written on paper. His target valuation is more than 20 billion USD, but this valuation needs to be supported by several subsequent major actions of his own. Otherwise, if we now come up with this target price, it will startle all Venture Capital, and the premium rate is too high, which will make the market think that it is over-inflated.

So, after being questioned by the representatives of the two companies, Li Mu probably gave an entry condition, that is: the ideal valuation of Muye Science and Technology is above 17 billion USD, and the bottom of 17 billion USD is first recognized After the valuation, let's sit down and talk in depth.

Talking about 17 billion USD, this incredible offer really scared the representatives of these two companies. Muye Science and Technology did have a very big development in the recent period, but after all, Muye Science and Technology has completed the split, and it is now exploding. Fire's "Paradise Town" has been separated from Muye Science and Technology on the books, so the flow of "Paradise Town" cannot be directly used to calculate the valuation of Muye Science and Technology, even if it is to calculate "Paradise Town" in the valuation of Muye Science and Technology It is absolutely impossible to have such a high premium space.

The market currently gives Muye Science and Technology a relatively cool valuation, probably between 15 and 16 billion USD. The reason why there is a floating space of 1 billion USD is not to say that the valuation of 16 billion USD It is also relatively calm, but because the valuation of 16 billion USD requires YY to make a breakthrough in recent business.

If the recent development of YY can be greater, or PayPal can have a greater breakthrough, then the capital side will make a certain increase in the valuation of Muye Science and Technology, the upward floating space of 1 billion USD, just after the internet bubble just burst The United States is enough to see how optimistic these Venture Capitals are towards Muye Science and Technology.

But as soon as Li Mu opened, the threshold of admission tickets was raised to the level of 17 billion USD, which scared the opponent.

At any time, capital is cautious. Every time a seemingly generous investment, do not know how much in-depth investigation and discussion of the enterprise and industry marrow, investors not only need to measure the current scale of the company, revenue It is also necessary to analyze in depth the future development space of the enterprise. The most important thing is that they have to estimate the risk and control the risk. Even if they all know that the probability of Muye Science and Technology Dacheng is not small, everyone is worried that the enterprise will take a detour in the decision-making process. Worried about the industry suddenly getting cold.

The internet industry sells concepts. One company after another has a high market capitalization. It is very supported by the concept of first-year university student. If there is another tragedy of the internet bubble burst, then no one in the market will pay for the concept. At this time, these high-cap internet companies will inevitably crash, and even Muye Science and Technology will not be spared.

As soon as the twenty-minute meeting time arrived, the representatives of the two companies left with a deep shock. The threshold of 17 billion USD, they need to return to the company as soon as possible to see how the top management decides .

After Li Mu sent away two people in succession, they took a short break in the office. At 10:25, Lin Qingya knocked on the door of the office and said, "The people from Chief Li and Sequoia are here."

Li Mu nodded: "Please come in."

Under the guidance of Lin Qingya, Eric. Hanks walked through the promenade to the door of the Li Mu's office. The time-tested Eric. Hanks once played an important role in countless large and small investments. These meetings and negotiations have been commonplace for a long time. It's easy to handle, but even he himself is didn't expect, at this moment, his heart was a little nervous.

People who can achieve more than 10 billion USD market value can find a lot in Silicon Valley, but China people and China internet companies have never reached such a height, let alone 20 years old The person who has reached this step, no matter what race or country, he has never seen it, and in this door in front of him, there is such a young man of the Legend version, so Eric. Hanks is involuntarily nervous , Because his subconscious felt that he would witness a history.

Lin Qingya pushed open the door of the office and came in with Eric. Hanks and said to Li Mu: "Chief Li, this is Mr. Eric. Hanks, Vice President of Sequoia Capital."

Finally, Lin Qingya said to Eric. Hanks in English: "Mr. Hanks, this is Mr. Li Mu, our CEO of Muye Science and Technology."

Li Mu got up from the desk and walked out, and said to Eric. Hanks in English with a smile: "Nice to meet you Mr. Hanks."

Speaking, he walked over to Eric. Hanks. Li Mu reached out and shook hands with him. Eric. Hanks also responded politely: "Mr. Li, I have been in the United States for a long time, and I look forward to seeing you. Thank you for the time you spent in your busy schedule today. "

Li Mu smiled slightly and said: "Mr. Hanks does not have to be so polite, the meeting between us is to have a chance to develop together, so I ca n’t say anything about it."

Eric. Hanks nodded and smiled: "Mr. Li is right, common development is the core idea we pursue together."

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 have not yet been dealt with, please forgive me."

Eric.Hanks knows that China people talk about politeness, but didn't expect is so polite, hastily said: "Mr. Li first came to Silicon Valley, Sequoia was founded in Silicon Valley for many years, and it is also considered to be a half host. Naturally, I have to take the initiative to go. I hope to invite you to dinner. Silicon Valley although is a high-tech industry, but there are several very good specialty restaurants near Stanford university, one of which is grilled pork ribs that is said to be the best in the state, if you are interested. , We can make an appointment to try it in the past. "

Li Mu nodded and smiled, "Okay, if you have time, you must try it together."

Speaking, Li Mu sighed and said: "But in recent days, it may have been busy. Muye Science and Technology has just started in the United States. It takes a lot of time and energy to build the team, operate the product, and develop the market. So I have to delay the meal, please forgive me. "

Eric. Hanks saw Li Mu actively talk about work, smiled slightly, and immediately opened the formal topic along the lines of Li Mu's: "Mr. Li, Muye Science and Technology in the US market made the whole Silicon Valley look at each other, with Muye Science and Technology Strength, I believe that after all, there will be a day when it will become the world's top internet company, everything is just a matter of time. "

Eric.Hanks said this, he paid attention to the Li Mu's expression, and when he saw Li Mu with a smile, he continued: "Mr. Li, Kaijiang Tutou is very important for any company. Many times, Kaijiang The time it takes to expand the ground is inversely proportional to the money spent. The more money spent, the shorter the time required, and vice versa. Our Sequoia capital development philosophy is to help all companies, better When you exchange money for time, the shorter the time spent in development, the greater the development space of the enterprise. "

Li Mu smiled and said: "That's natural. The reputation of Sequoia is praised by countless companies in the industry. You have helped many internet start-ups grow rapidly and made a great contribution to the development of the internet industry. "

Eric.Hanks said: "Contributions are out of the question. Everyone is taking their own needs. We do not have an actual project operation team. Because of this, we can only look for potential projects and teams everywhere and invest in them. , Let them develop better, and also bring us better return on capital. "

Speaking, Eric. Hanks looks at Li Mu, seriously said: "Mr. Li, Sequoia have always been very concerned about your Muye Science and Technology and Taobao network, and know that you have been looking for a suitable partner for Muye Science and Technology's C round of financing, we as internet industry senior Venture Capital company, very much hope to be your two companies' partners in the capital field, and please believe that Sequoia can bring you not only strong financial support, but also the endless resources of the US capital market, even when When you plan to go public in the US in the future, Sequoia can also provide strong support for you and your business. "

Li Mu nodded seriously, said with a laugh: "I believe everything you said, and now Muye Science and Technology is indeed preparing for matters related to the C round of financing. I am also looking forward to establishing cooperation with your company."

Early listening to this, Eric. Hanks looked a little relaxed and smiled: "Since this is the case, then I think both of us can have a deeper discussion on this issue. I do n’t know if Muye Science and Technology is preparing for a C round of financing business. Proposal? "

Li Mu shook his head and said indifferently: "We have not prepared a business plan. Many of the situations of Muye Science and Technology believe that you are also very clear. In order to save time and improve communication efficiency, we need to first Determine a consensus with you. "

Eric. Hankshastily said: "Please speak."

Li Mu said: "The Muye Science and Technology C round financing, the company's valuation must be more than 17 billion USD, if you approve this, then we will arrange a more in-depth discussion; if you do not approve this, For the purpose of saving time for both parties, there is no need to continue to discuss this issue. "