Rebirth in a Perfect Era Chapter 1083: Who can make money and who is the father
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Due to the toughness of Li Mu's and the rising status of the entire Muye Science and Technology in the internet industry, Sequoia finally gave up the routine adjustment work before financing as expected and directly signed the contract with Li Mu at Muye Science and Technology!
33 billion USD, the dust is settled!
The strength of Li Mu's has made Sequoia and the entire 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 most profitable one.
When Mark Zuckerberg founded Facebook, the financing of hundreds of thousands of USD was quite difficult, but when he pushed Facebook into the regular form, the overseas wealthy made a special trip to the United States to beg him. Joining Facebook at a high premium and voluntarily giving up all voting rights is a change in the status of the capital industry.
A paper contract finalized the valuation of Muye Science and Technology 33 billion USD, and also determined the world ’s largest financing in internet industry at the end of 2002.
However, the valuation at this time is much higher than the previous gold content. After all, the previous valuation is even higher, and the shares have not been successfully transferred at the price of that valuation, but it is different now, Sequoia This contract has used 3.3 billion USD, confirming the valuation of Muye Science and Technology 33 billion USD.
After the contract was signed, the whole Muye Science and Technology was boiling up and down.
Whether it is a colleague in the United States or a colleague in Yanjing, I am excited about the company ’s soaring valuation and the huge amount of financing, and the atmosphere is even more exciting than the New Year.
Although Muye Science and Technology did n’t get the money immediately after signing the contract, the entire internet industry and venture capital circle were all exploded.
Knowing that Muye Science and Technology is now awesome, knowing that YY users have exceeded 200 million, and knowing that YY has begun to develop toward "centralization", but the valuation of didn't expectYY can be so high.
33 billion, USD! This is already a record high valuation for China internet companies, and it is among the best in the entire US internet industry.
However, the capital statistics are relatively rigorous. Sequoia although gave Muye Science and Technology a valuation of 33 billion USD. However, no media has included Muye Science and Technology in the ranking of Silicon Valley and the world internet enterprise market value, because those are really on the list. The listed companies are basically all listed companies, because for the media, because the company only has the concept of "market value" after listing.
Overall, the market value has the highest gold content, followed by the actual financing valuation, followed by the valuation of more than 30 billion USD of Muye Science and Technology, which has made it completely among the golden character spires of the world internet industry.
Media around the world is paying attention to Muye Science and Technology financing, just like previous life Alibaba is listed in the United States. The world is paying attention to his market value exceeding the 200 billion and 300 billion USD mark.
Overnight, countless media published large-scale special reports on the Muye Science and Technology and Sequoia C round of financing, and for a time pushed Muye Science and Technology into a global hot topic.
The world ’s major media have different opinions on the Muye Science and Technology 33 billion USD valuation. Most of the opinions are shocked. A small number of opinions are taken for granted. A very small number of opinions believe that the Muye Science and Technology bubble is too large and scary. One day the bubble burst will become the biggest news in the internet industry, and will even trigger a chain reaction, leading to a new round of internet bubble burst.
However, no matter what kind of voice, Muye Science and Technology can not hide the light at this moment, the world has turned its attention to Muye Science and Technology, but in Asia, more than one billion people are paying attention to each of the Muye Science and Technology financing step.
The people of China are the most cheering Muye Science and Technology. In China, the attitudes of more than one billion people are highly unified, except pride is pride, nothing else.
At the same time, the China people admired Li Mu's and reached a new high again.
Li Mu hopes to be a business card for the China internet industry, or even a national business card for China. It now appears that he has achieved his goal.
The Li Mu people have not returned to China, but domestic reports about him are not only overwhelming.
Since Harvard ’s university speech, Li Mu ’s every move in the United States has been closely followed by the China media, and tracking reports are so detailed that the current exposure of Li Mu in China is even more than the entire entertainment industry. More.
Just when everyone hopes that Li Mu can stand up at this time, people still find Lin Qingya in Li Mu of Silicon Valley, and discuss with Kong Lingyu in Yanjing remotely about the related matters after a new round of financing.
However, as soon as Li Mu came up, he first threw out the core ideas with the two of them: "This time we will not discuss enterprise development and strategic planning, only two issues. First, employee cash rewards; second, employee option pool preparation. . "
After the financing is successful, the valuation of Muye Science and Technology will continue to rise soon. If there is a major strategic development in the next one to two years, then you can basically consider starting an IPO. Once the company ’s IPO is successful, then it reaches the company ’s shareholders And when employees pick fruits, now core employees have certain shares, although financing is slightly diluted, but the overall market value is still very gratifying, but this is only core management personnel, ordinary employees currently although has a variety of comprehensive benefits However, the issue of options has not yet been prepared, and now it seems that it is time.
Li Mu's advocates that the company must prepare a certain percentage of shares as an option pool before the listing, and complete the allocation before the listing. In this way, once the company is listed, the employee ’s options are converted into the company ’s stock, you can own the stock Market exercise cash.
Kong Lingyu and Lin Qingya have no opinions on the Li Mu's option pool plan. They have been working with Li Mu for more than a year. Now they are billionaires with a theoretical value of more than 100 million, and they have almost reached a peak in blind worship of Li Mu's.
So, Li Mu probably set a plan. At present, he holds about 70% of Muye Science and Technology. After this dilution of 10%, there is still about 65%, so he is willing to take out 5% of the shares. The 5% of the option pool, according to the current valuation, overall exceeds 1.5 billion USD.
Song Liang or Chen Ze or Xu Jiaming, they are all investors of Muye Science and Technology. If there is capital coming in, there is no problem with their dilution. However, the option pool Li Mu knows that they can no longer find them to promote their style, while Lin Qingya, Kong Lingyu The shares are already very small, and it would be unfair for them to let them donate some more.
So Li Mu decided to take out 5% of the shares and set up an option pool, and then split the 5% of the shares, and take 5 points of share debts in the form of 10 million original shares per percentage point. Divided into 50 million original shares, 50 million original shares is the entire Muye Science and Technology employee option pool in the future period.
After setting the total number of option pools, Li Mu requires Lin Qingya to take the lead in formulating an option allocation rule, based on each employee ’s onboarding time, grade in the company, and contribution in the company, KPI assessment, special contribution, etc. Dimension to formulate, clarify how many corresponding options can be obtained by meeting different conditions, and the time required for option exercise.
50 million original shares are not a small number, so Li Mu requests Lin Qingya: "At present, we have only more than one thousand employees, so you must reasonably allocate the options in the option pool. You ca n’t spend all of them in one go. Just like savings, you need to have control. "
Lin Qingya nodded: "Relax Chief Li, I understand this."
Li Mu said: "My idea is that at this stage, we will first take 10% from the option pool, that is, 5 million shares, which will be allocated to our current 1,000 employees, and when our employees exceed 3,000, Just take another 10%, break through five thousand, and take another 10%. Before we go public, we take another 20% and split half of the option pool. The remaining 50% will be divided slowly after the company goes public. To new colleagues who will join later. "
Kong Lingyu in the video conversation said: "Boss, one thousand people and five million shares is already very high. Now the value of each share is 33USD, which should be about 270Yuan. Even if an employee is divided into one thousand shares, this It's more than two hundred thousand. "
Li Mu smiled slightly and said, "Ling Yu, the value of options is not so calculated."
Kong Lingyu and Lin Qingya in the video both look at Li Mu.
Li Mu laughed: "Look, we currently value 33 billion USD for although, and split 5% of the shares into 50 million shares, each of which is indeed 33USD, but before we go public, options are not allowed to exercise Yes, all employees want to cash out, waiting for us to go public, and after we go public, the value of this option must be far more than 33USD. "
So, Li Mu explained: "Each original share of the although option pool is worth 33USD at this stage, but its actual value is not measured by money. You have to remember, according to our words , The actual value of each original share is one billionth of the company ’s actual value. "
"If our future valuation continues to increase, then before we go public, the market value may reach 80 billion USD, and when we are just after the IPO, the company's market value may exceed 100 billion USD, to that At that time, it was the window for employees to cash out options. The original stock of each option was equal to the company ’s stock worth one thousand USD. For example, if our stock price after listing is 20USD, then the actual value of each original option is One thousand USD, after we go public, every original share in the hands of employees will be directly converted into 50 shares of the company. "
Kong Lingyu nodded, laughed at herself, and said, "Boss, I'm from Nojiko. To be honest, I don't know how to play options, especially after listing."
Li Mu laughed and said: "It doesn't matter if you don't understand, you should do the that's alright business that you are responsible for, and this one does not necessarily have to follow the rules of the industry, we can set it ourselves."
Lin Qingya asked at this time: "Chief Li, if we split 50% of the option pool, what should we do with the remaining 50% of the option pool after we go public? Will it be directly converted into company stock? "
Li Mu nodded and said: "Yes, we give employees options before listing, and we directly give employees stocks after listing. In the future, according to my assumptions, our total share capital after listing will be 5 billion shares. , The remaining 2.5% in the option pool will directly become 125 million company stocks. "
He said, Li Mu said: "After we go public, in order to attract talents, we have to formulate a stock quota for high-end talents entering the company. For example, P7 technical talents come in. In addition to salary treatment, Give another 5,000 shares of the company's shares. The 5,000 shares may be worth tens or millions, but the exercise of these 5,000 shares must be time-limited and exercised over several years to tie talents to the company for a longer period of time. Stay together. "
Lin Qingya nodded and said: "Understanding Chief Li, we will limit the total exercise period to three years at that time. Employees can have an exercise opportunity after one year of formal employment, and the total exercise amount cannot exceed the total number of shares held. One third; one third after two years of exercise; the remaining third of three years of exercise. "
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PS: I ’m too tired. I owe you a chapter tonight. I ’ll try to make it up tomorrow.