Reinventing the Millennium.

Chapter 78 Side Fire Night Talk ([-] in [-])

The office of the registered website occupies half of the floor, with desks, website logos, slightly messy information placement, and floor-to-ceiling windows overlooking the first tertiary hospital, the first affiliated hospital of Anhui Medical University, which is the first to enter the website.

At first glance, it looks pretty decent.

Zheng Lang looked at it for a while, and set his eyes on the hot pot table in the center.

He smiled and said, "We call this a side fire on our side, and we are a side fire night chat today."

When Fang Zhuo heard this, he immediately said, "Zheng is always from Guangdong Province? I really don't hear the accent."

Yu Hong and Zhou Xin, who were next to them, didn't know that "playing the side stove" was the way to call them in Guangdong Province.

Zheng Lang nodded and couldn't help but boast: "After chatting all the way, Mr. Fang really has an insight that does not match your age. I am like you at this time... I seem to only know how to read, then I will resume the college entrance examination. year."

He said with emotion: "In a blink of an eye, sometimes it really feels like a dream."

"I just can't read well, and I admire people who can read the most." Fang Zhuo smiled, "Mr. Zheng is very good. At that time, thousands of troops crossed the single-plank bridge."

Zheng Lang shook his head: "The competition is not small now, but studying and further education is the most suitable way for ordinary families."

The vice president said no more, he suddenly thought that there are children of a cadre family here.

"Sit, all sit, Director Zhou also sits, you can eat less if you get motion sickness." Zheng Lang greeted, and he said, "Your office is quite empty, wait until we finish eating and open the window, lest the employees arrive tomorrow with hot pot. taste."

Zhou Xin's throat couldn't help sliding up and down, eat less, eat less.

Fang Zhuo nodded and smiled slightly: "At this stage, we basically need to run outside and contact the hospital. It doesn't take long for the office."

Zheng Lang didn't notice the difference, and the registration network itself didn't last long.

Yu Hong sat across from Fang Zhuo and looked at this guy's expression, um, it's true that the office didn't last long, and he asked a lot of people to help him in the afternoon. There was a computer in the independent office that only had a screen, and even forgot to take the host.

The hot pot soup began to emit a trace of heat.

"Mr. Yu." Zheng Lang felt that he could talk about the topic, he looked at the young Yu Hong, and said slowly, "This time I saw Mr. Fang in Lin'an and the registration network, which really surprised me. The Internet and The exploration of medical ecology is amazing."

Yu Hong didn't know how Fang Zhuo had operated these two days. She really turned back a venture capital executive, and it was the same night, she said cautiously, "This is also one of our attempts."

"This kind of attempt is very valuable." Zheng Lang smiled. "As President Fang said, solving problems is valuable. In fact, his speech on the stage is not only me, but many friends think it is right."

Yu Hong nodded slightly, but she was thinking in her heart, is she still speaking on stage?I didn't mention this on the phone. What did you do in Lin'an?

When Zheng Lang said this, the conversation changed: "I came here because I have a strong willingness to cooperate with the registration network, but there is still a question that needs to hear your thoughts, value is value, and the realization of value is value. Realize, how did you think about this?"

The white soup of the hot pot began to bubbling, and the lights of cars passing by outside the floor-to-ceiling windows flickered.

It was already early morning.

Yu Hong didn't speak, as if thinking about it, Zhou Xin didn't speak, only felt that his chest was touching his back.

Zheng Lang's eyes were piercing.

Fang Zhuo took a plate of fresh mushrooms and put it into the pot, watching the heat rise, while pondering: "Mr. Zheng, Sequoia is a well-known venture capitalist, you definitely won't ask us to make a profit in a short time, right?"

Zheng Lang said with certainty: "That won't happen, but I also have to know the profit direction you are considering. It is good that the registration network can be convenient for many people, but the stable profit is not only its own support, but also beneficial to the subsequent expansion and development. ."

"That's good." Fang Zhuo nodded his head, he was confident, at least on the surface, "The current stage of the registration network is to access and deploy offline hospitals, especially key hospitals, Luzhou and Lin'an are not a problem, correspondingly , we have a rough schedule to expand into these two provinces, which is why we need VC money, expansion always requires money.”

Yu Hong raised her hand and took a plate of potatoes, thinking, why is Lin'an not a problem?
However, she saw that the vice president of Sequoia was just listening quietly and did not raise any objections.

"Don't, put the potatoes in the back, otherwise the bottom will be easily burnt." Fang Zhuo still had the intention to stop it.

He continued: "Your funds will be used by us to deploy the registration network to key cities in the two provinces. After that, we will initially consider the profitability of the registration network."

Not only Zheng Lang, but also Yu Hong and Zhou Xin were all focused.

How does the registration network make money?

In other words, how do Internet companies make profits, which is a troubling question today.

Just like Ma Huateng, who went to Lin'an to attend the meeting this time, he wanted to turn to several listed companies for help to see if they could get new funds. However, the latter did not make any profit even if it went public.

Tencent was established at the end of 98, and it has been exactly 2 years now. In these two years, Tencent launched QICQ and changed its name to QQ. The number of registered users exceeded 100 million, and the number of online users was close to [-] million.

What kind of traffic is this!

However, Ma Huateng still needs to worry about capital and profitability, and the increasingly high server costs have discouraged many institutions, including its current shareholder IDG, an internationally renowned venture capital institution.

Before Fang Zhuo and Ma Huateng joked about how much investment they needed, the latter quoted a price of $200 million.

In fact, Ma Huateng had already approached Wang Zhidong of Sina and offered $150 million before this, but the latter dismissed it.

Is capital not smart enough?
Not only smart, but also greedy.

However, the vast majority of smart people can't detach themselves from the times and can only explore the way forward.

Compared with other Internet companies, the registration network is different. Sohu, NetEase, and Tencent are purely online, but the registration network has a narrow offline application scenario.

"Our profits will come from regular advertising revenue on the Internet, which will not be opened temporarily for expansion in the early stage."

Fang Zhuo turned around a lot of thoughts in a short period of time, raised a finger, and gave an answer first.

Then, he continued to say calmly: "In addition, we will consider dividing with the hospital. The promotion work in this area requires the registration network to continue to consolidate its proportion of use in the hospital."

"When everyone is more and more used to it, and the hospital is more and more used to it, we will start the pilot in Luzhou. Well, it will be more convenient here in Luzhou."

As for the convenience in Luzhou, Fang Zhuo's words were rather vague.

But Zheng Lang nodded.

"Luzhou will become an established example, and the charging model of one or two key cities will continue to be fully promoted. We will collect data to judge the formulation of this registration fee."

"However, the registration fee will certainly not be expensive, and it is a way of small profits but quick turnover."

Fang Zhuo paused: "We have to consider policy issues, and expensive expenses will not be allowed."

Will the policy not allow expensive registration fees or will not allow registration fees?

This is a problem.

Yu Hong and Zhou Xin couldn't help but glance at Fang Zhuo, the latter was completely unashamed.

Zheng Lang digested it for a while, and agreed: "It's relatively clear."

He also pointed out: "The pilot fees in Luzhou or Lin'an will be very important."

"Yes, but we are still optimistic. Then again, because the problem is solved, users have a reason to pay, and they will recognize the value we bring." Fang Zhuo spread his hands, "It's time to register. It’s an easy choice to pay a few extra dollars or spend hundreds more.”

Zheng Lang nodded as a matter of course: "The market economy, this is the advantage of the combination of the Internet and traditional fields."

Without the intervention of the administrative force, the capital would even want to make money from selling vegetables, not to mention seeing a doctor, he didn't think there was a problem.

Fang Zhuo smiled.

Zheng Lang stroked it again in his heart, and felt that there was generally no violation. As a senior vice president, he has a certain investment quota, and the registration network currently needs not too much money.

Therefore, he came overnight and would leave soon.

There is a relationship here in Luzhou, and the business has already been rolled out. There is an invitation for the next business in Lin'an. The website will also have a clear and sound profit method in the future. There is no problem with the project.

The soup on both sides of the hot pot boiled.

"This lamb is good."

Zheng Lang took a piece of mutton and chewed it in his mouth for a few seconds. He was really hungry.

"The direction of a company's profitability is very important, and your pilot program must be communicated well in advance." The vice president chatted while eating, "You can't be like some companies, working there with your head down, and when you ask about profitability, you don't know at all."

Yu Hong listened to it a lot and felt that she should speak up too. She asked, "Is there still such a company?"

Zheng Lang said with a smile: "Of course there is, Mr. Fang is still seeing you this afternoon, and the Penguin chat software has been around for two years now. There are more and more servers and more and more users, but the losses are also getting bigger and bigger. many."

He thought about it for a while: "IDG is a shareholder of Penguin, with 20% of the shares. I have a friend over there. He once went to Penguin's boss and asked what profit plan he had. Guess what they answered?"

Zheng Lang directly revealed the answer: "That Mr. Ma said that he didn't know either, so he'll go on and do it."

The vice president laughed cheerfully.

Fang Zhuo didn't speak.

Zhou Xin said, "There's no way to do that. It's impossible to say no if you've done it halfway through. You can only hold on."

"That's the reason, you can only hold on." Zheng Lang said casually, "IDG's investment has a superstition, and it recognizes people. At that time, I invested in Penguin because I thought that horse would always succeed. Now I just want to quickly dump the shares."

Fang Zhuo listened to this and wanted to eat a whole plate of mutton in embarrassment, although this perception is the current general idea.

Sequoia's senior vice president laughed and talked for a while while eating hot pot.

When he felt a little full, he said, "President Yu, President Fang, and President Zhou, I am optimistic about the development of your registration network. I came here today because I also want to meet the company's shareholders. It seems that there is still one less?"

Yu Hong immediately said, "That's my good friend, it's okay, I can call the shots."

As a best friend, Fang Zhuo mentioned it, it seems to be the agent, Zheng Lang guessed, and said, "Then let's talk about the capital and proportion invested by Sequoia, what does President Yu think?"

Yu Hong was blind, she could only think superficially.

Fang Zhuo took the initiative to take over: "What kind of valuation is Sequoia willing to give? Our registration network has not been established long ago, so we must not calculate it according to the present. After all, we are investing in the future value."

"Naturally, naturally." Zheng Lang has a wealth of experience in this area. He asked, "According to what Mr. Fang just said, how much money do you need to build two provinces?"

100 million, 20%, Zhou Xin muttered in his heart. When he arrived at the Lin'an Hotel on the first day, he and the boss chatted excitedly about this, and knew the psychological price.

Fang Zhuo didn't answer immediately, looking at Yu Hong as if he was inquiring, and said, "280 million."

Zheng Lang laughed, this young man is shouting indiscriminately.

Zhou Xin's eyes widened, the price went up?
Zheng Lang did not refute, and asked again, "What about the sale of shares?"

"20% of the shares." Fang Zhuo said calmly, "Sequoia belongs to the first venture capital we introduced. This ratio is very reasonable."

Zheng Lang didn't need to calculate, and said directly: "This ratio is the valuation of 1400 million, um..."

The three of the registration network at the table held their breath at the same time, watching the senior vice president thinking.

"I can call the shots for such an amount of investment. Our procedures can be faster, but the amount has to be revised." Zheng Lang said slowly, "I'm really optimistic about the registration network, Sequoia is not the kind of squeezing entrepreneurs. Venture capital, otherwise, it is a vengeance."

He said: "200 million, 20% of the shares, but to set up an option pool, industry practice, reserve 10%."

A smile appeared on Zhou Xin's face, and Yu Hong's brows slightly raised.

Fang Zhuo held back his emotions and frowned: "200% of the 20 million yuan, um... as expected, but we can also see the sincerity of President Zheng, but the option pool has reduced the value of our shares in disguise."

The common venture capital investment is to increase capital and expand shares, and a few cases are the transfer of old shares.

预设10%的期权池，方卓手中75%的股份会削减为67.5%，这个基础上让红杉200万的价格持股20%，也即意味着方卓67.5%的股份进一步削减为54%。

If there is no option pool, after Sequoia becomes a shareholder, Fang Zhuo's shareholding ratio will be reduced to 60%.

In other words, whether the option pool is established or not means that Fang Zhuo, the major shareholder, has a difference of 60 in the valuation of the shares, which is the difference between 60 households.

Zheng Lang originally thought that he would wait for the other party to ask what the "option pool" is, but he did not expect to receive such a sentence, and it seemed that he had done his homework.

He persuaded: "To become bigger and stronger, you always have to introduce talents. Option rewards are too important. The division of shares in the early stage is clear, and subsequent investment is actually very beneficial."

Zheng Lang continued: "A reasonable shareholding structure is definitely an important condition for the healthy development of the company. I have seen many companies break up because of this kind of thing. President Fang, President Yu, President Zhou, you should keep an eye on the scenery."

Yu Hong clenched her hands tightly, and Zhou Xin finally couldn't help taking a deep breath.

Fang Zhuo was speechless.

Zheng Lang thought for a while, and then said: "Our Sequoia investment is actually more accustomed to US dollars. This money is enough for the development of the registration network in the two provinces. If we come again next time, I believe Fang will always calculate the US dollar with me. The exchange rate and the valuation of the company, at that time, I thought about the road to listing.”

200 million is $24.

Compared with Sequoia's investment of millions of dollars, it is indeed a small amount, and it is also a small case where Zheng Lang can call the shots overnight. He used future cooperation to persuade Mr. Fang, who obviously has a different status.

Fang Zhuo sighed.

The next second, he showed a bright smile and said to Yu Hong, "Sister Yu, Zheng is always a cheerful person. I think there will be more in-depth cooperation between the two sides in the future."

Yu Hong understood, stood up, stretched out his right hand, and said steadily:
"Mr. Zheng, it's a pleasure to cooperate."

(End of this chapter)