Media Tycoon since 1999

Chapter 388 Don't give an inch, resist temptation

After eating and drinking, talking about their feelings, the four of them changed private rooms and sat down to enjoy coffee and tea.

Xu Xin took the initiative to speak: "Gao Yang, 51 Group's Internet projects really don't need VC investment?"

Gao Yang nodded: "Sister Xin, I don't need to lie to you about this kind of thing."

Xu Xin smiled and said: "Sister Xin wants to invest some money in, don't you welcome it?"

Gao Yang said: "Sister Xin, the capital operation strategy that 51 Group set up in the beginning of the Internet business was not to introduce VC.

At this stage, the establishment of the earliest 51 city company is still in the initial stage, and it still needs to complete the national layout, so I am really sorry.

However, the various projects of the 51 Group can be planned to go public when their operations are mature, and we will introduce PE capital. At that time, sister Xin is welcome to invest in the PE model. "

Xu Xin said with a smile: "Well, I will definitely come to invest when the time comes. I have discussed with Mr. Ding the layout of the 51 Group in the Internet. You are really good, and I am very optimistic about it.

This time when I came to the capital, I came for Jingdong. I didn't expect that 51 Group had already invested in Jingdong and was still the major shareholder.

I went to Mr. Liu to talk about investment, and he said he wanted to discuss it with you. This morning, Mr. Liu told me that your opinion is that the valuation of Jingdong is 2 million U.S. dollars. Is this too exaggerated? "

Gao Yang said with a smile: "Sister Xin, it's not an exaggeration at all. Last year, Jingdong was short of money. Brother Dong said that he had found [-] or [-] people in order to find a VC, but none of them were willing to talk to him. He was almost depressed until he turned white overnight.

Now, just in the past few months, Jingdong's development has changed a lot, and the future is full of imagination. Even sister Xin came to your door, which shows that you are really optimistic about this company. "

Xu Xin said: "Yes, I am optimistic, but VC investment has a lot of risks. I am optimistic about Mr. Liu's team and the business model planned by Jingdong. The probability of success is relatively high. However, now it costs 2 million US dollars The valuation is really too exaggerated."

Gao Yang shook his head and smiled: "Sister Xin, if the current Jingdong valuation of 2 million US dollars makes you feel exaggerated, then in 2000 Ali, Softbank invested 2500 million US dollars in Ali."

Xu Xin also shook her head: "Gao Yang, Ali's business model is quite different from Jingdong's. Ali's future development space is much larger."

Gao Yang smiled and said: "Sister Xin, in my opinion, Jingdong also has a lot of room for development in the future.

Without the initial capital injection of 51 Group, and the subsequent platforms of 51 Group to help Jingdong promote, Dong Ge may still be struggling to seek VC capital.

I promised Dong Ge that if Jingdong needs funds now, 51 Group can follow up investment immediately, and the valuation is 2 million US dollars.

51 Group has just released 51pay, a third-party payment tool, and will soon promote it on various platform projects of the company, and Jingdong will also support 51pay.

In addition, 51.com will also conduct intra-city e-commerce business in the future. The main business direction will not conflict with Jingdong. It will mainly focus on daily necessities and fast-moving products, similar to online supermarkets.

In the future, when Jingdong develops to a certain stage and the scale of 51.com’s e-commerce business also increases, we will consider arranging Jingdong’s financing to acquire 51.com’s e-commerce business.

51 Group also established an intra-city express company this year, which currently has a presence in 30 key cities across the country.

This series of plans, as well as 51 Group's strong support for Jingdong, sister Xin, the current Jingdong is valued at 2 million US dollars, isn't it too much? "

Ding Lei smiled and said: "Sister Xin, look, this is what I told you, Gao Yang's style. He does things like playing chess, one link after another, and the planning is in place. The current user traffic of 51 Group is already very high. It is astonishing, the projects that Gao Yang is eyeing are all developing very fast, even at an unconventional speed."

Xu Xin said: "Gao Yang, when we do VC, it's like sowing seeds in the field in the era of slash-and-burn farming. A lot of seeds are sown. If the harvest is not good, there may be no harvest.

Therefore, what VC investment pursues is high risk and high return. If you invest in 100 projects, if a few projects are successful, there is hope to make money.

In fact, when investing in start-up projects, failure cases abound, and the probability is very high.

You see, Yawen and I are old acquaintances, so can't you be lenient to Sister Xin and let Sister Xin reduce some investment risks? "

Gao Yang said with a smile: "Sister Xin, if you want to talk about investment risk, it has nothing to do with the project's valuation level. The risk probability of failure or success is 100% once the final result comes out. In addition, the so-called business is about business. Naturally, it is necessary to discuss according to the rules of the game in the market.”

Xu Xin rolled her eyes at Gao Yang, looked at Gu Yawen, and joked: "Yawen, your husband is so cruel, he doesn't give Miss Xin any face."

Gu Yawen smiled and said: "Sister Xin, he has such a style in his work. After you get familiar with it, you won't think so."

Gao Yang suddenly asked: "Sister Xin, your VC company raised funds, what is the background of the main investors?"

Xu Xin said: "Gao Yang, I can't disclose the details of the investors. Let's put it this way, mainly European and American capital, and some capital from Hong Kong Island. Of course, our management team also has investment, accounting for [-]% of the funds."

Focusing on European and American capital, Gao Yang naturally chose not to give up an inch. It is impossible for these guys to make hundreds of times in a few years on the Jingdong project.

Gao Yang said with a smile: "Sister Xin, European and American investors have a lot of money, and the mere valuation of 2 million US dollars is really nothing. If you invest in Jingdong now, if Jingdong goes public in a few years, you can still make a lot of money. Full."

Xu Xin rolled her eyes again, and asked with a smile: "Mr. Liu told me, your opinion is that Jingdong not only needs to be valued at 2 million US dollars, but also only accepts VCs with a maximum value of 2000 million US dollars?"

Gao Yang said: "Yes, at this stage, the injection of 2000 million US dollars is enough for Jingdong to complete the initial business layout."

Xu Xin spread her hands and sighed: "Okay, I will study it seriously with the team if you report such a high valuation."

Gao Yang said with a smile: "Sister Xin, then you have to hurry up, the opportunity is not to be missed, and it will never come again. I believe that other VC agencies have noticed the development trend of Jingdong this year."

Ding Lei said with a smile: "Sister Xin, look, when doing entrepreneurial projects, I always ask VC to invest. When I come to Gaoyang, everything is reversed. I feel ashamed."

Xu Xin smiled charmingly: "I can't help it, she's just that good."

Xu Xin was still somewhat displeased with Gao Yang's ruthless attitude.

However, she also accepted the value of the plans that Gao Yang mentioned just now.

Jingdong has such a strong support from 51 Group, the company's future growth potential, the original VC investment analysis model is no longer applicable.

Gao Yang naturally also saw Xu Xin's displeasure, and said again: "Sister Xin, you have rich experience in the VC industry, so you don't necessarily have to serve European and American capital in the future.

51 Group, Yiwang, and Baidu are discussing the establishment of an Internet industry venture capital fund. Sister Xin can cooperate with us in the future to host this venture capital fund.

In addition, 51 Group itself will also need foreign investment. In the future, I will invite Sister Xin to come to 51 Group as an investment consultant. How about it? "

Xu Xin smiled immediately: "Hey, I came to talk to you about investing in Jingdong, but you came up with my idea instead."

Gao Yang said: "Sister Xin, I'm serious, we really need a professional investment manager like you."

(End of this chapter)