Rebirth in a Perfect Era Chapter 854: Advance can be attacked, retreat can be guarded

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There is a joke circulating on the internet of later generations, saying that a grandma went to the vegetable market to buy tomatoes, picked three, and the stallkeeper said after weighing: "One and a half pounds, three and seven."

The grandmother said: "I will make a soup, I don't need that much." After that, the biggest one was removed, and the stall owner quickly glanced at the scale again: "One pound, two, three."

As a result, when everyone thought that the grandmother was going to be pitted by a profiteer, the grandmother took out seven cents calmly, picked up the biggest tomato that had just been removed, and turned away.

Three three-piece seven, after removing one, the remaining two three-piece, three-piece seven minus three-piece, the seven-hair minus no problem, the stall owner can only eat his own dumb loss .

although is a joke, but it exemplifies the game between Venture Capital and enterprise financing.

The current Muye Science and Technology is like that few tomatoes, only big and small, green and red.

YY is definitely the largest, reddest and best of several tomatoes, so it must be the best. Tieba (Post It) may not be too big, not green or red, but I am afraid that Happy Farm is green and small The other one.

Although there is running water, compared to the real end game, this point of running water is not significant. Venture Capital looks at the comprehensive potential of YY in the real-time Instant Messenger field and in the future network social field, so in front of this big framework, "Happy Farm" is really nothing.

Li Mu also guessed the value judgment of Venture Capital, so he wanted to disassemble it and talk to Venture Capital. If Venture Capital really does n’t like Tieba (Post It) and Happy Farm, it does n’t matter. The less optimistic, the more beneficial to himself, such as Sequoia. , 13 billion valuations for Muye Science and Technology, if 12 billion valuations for YY, Li Mu dreams will wake up laughing.

Because Li Mu knows clearly, Tieba (Post It) ’s product scale and future ecological chain development prospects, the valuation can reach at least tens or even tens of billions. If Weibo is hatched in a few years, the valuation will be a hundred. Billion USD started.

As for "Happy Farm", Li Mu really did not expect how much money it can make, because its core mission is not to make money, but to build a fortress for YY's overseas development, but in addition, "Happy Farm" also There is a special attribute.

Unsurprisingly, it must be its first client game, which is the first product of the future game project division, but the current game project division is still in a state where there is no game, if they are also included to raise funds , Venture Capital will not give them a high valuation at all, at most only a team valuation, plus platform bonuses, but Li Mu knows clearly, the future of client game business is the top priority of internet revenue If you now rub it in this basket of tomatoes at a very inconspicuous price and talk to Capital, it would really be a big loss.

What Li Mu wants to do is to optimize and upgrade the grandmother ’s approach. As a seller, first find out the price of each tomato in the eyes of the buyer, and then take out the one that the other party ca n’t see. Can't you? I just do n’t want to sell too much. I ’ll take it out, let ’s talk about the rest.

Others of Muye Science and Technology also understand the idea of ​​Li Mu's. Naturally, they have no opinions on the financing of the split, but everyone is more concerned about it. Once Muye Science and Technology is split into two or three companies, one of the companies has taken capital financing. The future How to use the money smoothly in the overall operation of the three companies?

If "Happy Farm" is split, then in the future when YY will be globalized, the capital invested in Muye Science and Technology, quite a part of first-year university student, will be taken to push "Happy Farm", and the capital must be crazy.

Li Mu felt that this was not a problem at all, and said to everyone indifferently: "The reason why you are worried that the capital side will oppose us to use money in other companies not related to them, the fundamental reason is that you are too much capital When people read it, the premise for us to capitalize is that capital cannot interfere with our decision-making and operations. If this is not possible, we will not agree to the best financing conditions. "

As he said, Li Mu said again: "We are a mature large-scale internet company, not a startup. Venture Capital does not need to worry about our product model, profitability and development prospects. In this case, they are eager to invest We, the purpose is nothing more than want our shares. After we get the shares, we will contribute when we need him; when we don't need him, he will shut up and keep our distance and be a silent shareholder. "

Kong Lingyu agrees: “I think it ’s the same, even if we use Venture Capital money to promote Happy Farm overseas, but in the end we will really benefit from YY. After all, once our YY opens up in overseas markets, YY ’s There is no limit to the valuation space. "

Ding Zhenglin asked Li Mu: "Chief Li, if it is split, what is your psychological valuation of these sectors?"

Li Mu thought for a while and said, "YY is 15 billion, Tieba (Post It) is 5 billion, and Happy Farm is 2 billion."

A few people were taken aback by Li Mu, so after calculating, the expected valuation of Muye Science and Technology in Li Mu is 22 billion! Even if it is more than seven billion yuan higher than the currently quoted Softbank ...

Lin Qingya was the first to see through the intention of Li Mu's, said with a laugh: "Chief Li, I think you just want to take out Tieba (Post It) and Happy Farm, and directly raise YY to a valuation of 15 billion to finance it. ? "

Li Mu laughed, and snapped his fingers: "Qingya, you know me best."

After talking, Li Mu said: "Tieba (Post It) has traffic and users, but there is currently no good way to monetize except advertising, so I believe that capital itself will not be very optimistic about Tieba (Post It); the game of Happy Farm The mode is relatively soft, and it ca n’t be compared to the games such as MU Online / miracle and Legend in the fierce degree, and the game itself is free, and the profitable space is naturally no better than the paid game. Similarly, capital will certainly not be very optimistic about it. And we sell the shares to do Financing, to put it bluntly, is like selling a thing. If the buyer of a certain item does not approve and the bid is low, why do we need to sell this item? "

Ding Zhenglin nodded: "Then I will discuss with Sequoia and Softbank in further detail according to the valuation of YY 15 billion."

"Okay." Li Mu said: "If the talk is completed, we will split Tieba (Post It) and register a Muye Culture separately; split" Happy Farm "and the game development team and register a Muye Interactive Entertainment, these two The company's share structure completely copies our current share structure. The shareholder and shareholding ratio remain unchanged, but after the split, the two companies will conduct independent operations and separate financing in the future. "

"In this way, in the future, we will be able to attack and retreat and defend. If we attack, we will find a way to allow the two companies that were separated to be listed independently; if we defend, we can also use Muye Science and Technology, Recapture the two split companies through capital operation. In this way, not only can the strength of the entire Muye Science and Technology be strengthened, but also the Venture Capital of C round financing can be prevented from occupying small advantage. By then, the two companies without their shares will merge. , They have to pay an extra price, either dilute a part of the shares, or use the money to make up the difference. "

Li Mu's's offensive and defensive planning has been approved by everyone, and everyone understands that Tieba (Post It) and the game business are not valuable in the eyes of outsiders, but in their own eyes, the development potential is very great.

At present, the core team of Muye Science and Technology does not yet know the future planning of Li Mu on Weibo, but only knows that the next incubation task of Tieba (Post It) is a blog, and the blog has already been developed, and it will be developed in a short time.

Although some people have tried the blog product before, but because there is not enough traffic city, no strong platform appeal, and no well-known self-media body, those people have failed to make the blog, but now in Tieba (Post It) There are a lot of high-quality content and a lot of star resources. Once it is converted to a blog, it can create a lot of self-focused self-media at once. It can be said that Tieba (Post It) has cultivated the blog in addition to absolutely fertile soil, as long as the blog one When it comes out, it will be a fire, and it will be a fire.

According to Li Mu, either blog or Weibo, these two products are facing a huge problem in the process of development: applauding or not applauding, plainly speaking, there is no good monetization model, and the traffic is large 1. Great fame, just do n’t know how to make money.

A Portal website with an average daily unique visitor of more than one million, if you only rely on advertising, the annual revenue of 10 million is very great, such as Hao123 before its own acquisition; but if it is a Japanese independent visitor of more than 100 Ten thousand e-Commerce website, a year of revenue can easily achieve tens of billions, the real difference between the two is the way of monetization.

But this is not a problem for Li Mu, because Li Mu has prepared an excellent monetization channel-Taobao for blogs and future Weibo.

After a certain period of time, the development of Weibo began in the direction of the new media e-Commerce. If it is not the appearance of the WeChat circle of friends, 10 million "Wei Shang Army" will definitely take root on Weibo.

Li Mu does not want to create a "micro-business force", but the new media e-Commerce is a very effective development direction. Once the blog is on fire, it will definitely gather a large number of users. Find a way to guide these users to Taobao online consumption, which is the future of blogging. Monetization is the top priority.

In other words, Li Mu has basically decided to advertise the blog in the future, and it should be all given to Taobao. The electronic Business monetization method is direct, and the conversion rate is high, which is much more effective than other internet ads.

Moreover, the blog itself is a new type of self-media. Here, users, a small number of people create high-quality content, and a large number of people pay attention to and digest high-quality content. In this case, the blog can guide a group of people who are good at making content or have influence. People come and try the content e-Commerce directly.

For example: let a well-known makeup artist open a blog, while explaining makeup, while recommending cosmetics and makeup tools of Taobao cooperative enterprises. While her audience is learning, she can directly purchase products recommended by her through her guidance. I want, and the link in the blog can directly make these fans jump to Taobao to complete the purchase;

For example: let a well-known fashion magazine start a blog, regularly recommend the clothing mix of various cooperative enterprises, and see that the user is interested in a certain piece of clothing, you can also buy directly on Taobao with one click;

Taobao shopkeepers can promote products on blogs, and well-known bloggers can also open shops on Taobao. In short, the two links are fully connected, and the resources at both ends can be communicated and transformed, promoting each other and developing together. .

This is the awesome of the big ecology. When previous life Sina is playing blogs and Weibo, there is no Taobao network to monetize them, but now, blogs and Taobao are both Li Mu's ......