Media Tycoon since 1999

Chapter 402 $1.4 million, a deal!

At noon on August 8, Xu Xin flew to Beijing from Hong Kong Island

Last night, when she heard that Gao Yang intends to introduce VC, Xu Xin was also very excited. 51 Guardians achieved 5000 million users in one year, and the free model turned the desktop antivirus software market upside down.

In Xu Xin's eyes, the business model of this project is excellent, and free is the most expensive thing.

In the desktop anti-virus software market, big and small brands have been fighting for more than ten years. As a result, when 51 Guardians came out, it was like a slap from the sky, and they were all slapped to death.

When Xu Xin came to the capital again, it was natural that Gu Yawen went to the airport to greet her, accompanied by Shao Hanyun.

The last time she came to the capital, Xu Xin knew that Gao Yang was a shareholder of Haidilao, so she proposed to eat hot pot at noon.

Gu Yawen immediately called Jian Yu, reserved a small private room, and then notified Gao Yang to go to Haidilao to meet up.

While eating hot pot, Xu Xin heard about Gao Yang's arrangement for 51 Guardians to transfer the majority stake, and felt it was a mysterious operation, which was hard to understand:
"Gao Yang, you are not stupid. Since you are willing to let 51 Guardians go to NASDAQ for IPO, then you can do it yourself. According to the current development trend of 51 Guardians, there is hope in three or four years. The packaging went to the US stock market for listing.

After the US stock market is listed, it can be valued at about 30 billion US dollars no matter what. 51 Group holds 60% of the shares, and it will be diluted to about 52% by then, which is also [-] billion US dollars.

Now, it is a pity that you transfer out 40% of the equity with tens of millions of dollars.

If you need funds, I will vote for you..."

Gao Yang said with a smile: "Sister Xin, the main reason for the sale of the majority stake in 51 Guardians is that the company needs to optimize and adjust the platform project. In addition, you know Yawen's father's work factors, and our company is not suitable for direct listing on the US stock market."

Xu Xin shook her head: "Gao Yang, you are really worrying too much, these projects of 51 Group are created by you and Yawen's independent entrepreneurship, and have nothing to do with Uncle Gu.

My dad is also at the bureau level in a state-owned enterprise. He just retired. I have done business all these years by myself, and I have never relied on my dad. "

Gao Yang said: "Sister Xin, the arrangement of 51 Group has our own considerations, so don't worry about it. If you are willing to cooperate with Zou Hongwei, then this time is just an opportunity."

Xu Xin thought about it: "Well, how you want to play is up to you, Zou Hongwei, how do you feel?"

Gao Yang asked: "Zou Hongwei is already a celebrity in the Internet circle, sister Xin should know him, right?"

Xu Xin said: "Yes, I know. I also know that he is a partner of IDG, but I have never met him. I want to ask what is your impression of him?"

Gao Yang said: "I think he is very good. He has ability, qualifications, leadership, keen business vision, and means. Qihu Technology has launched a 369 security browser. I think it is a perfect match with 51 Guardians. , so I considered discussing cooperation with him.”

Xu Xin asked again: "Will the 51 Group support the development of Qihu Technology in the future?"

Gao Yang said: "Yes, first, we will support Qihu Technology in terms of traffic promotion and promotion. Second, in terms of anti-virus, 51 Guardians will focus on the enterprise market in the future, and we can jointly do some basic research and development with Qihu Technology. It is also possible to establish a collaborative sharing mechanism in terms of virus monitoring and tracking. In short, there are many areas where we can cooperate and communicate.”

Xu Xin thought about it: "If you have such an attitude, I will feel relieved. Have you talked to Zou Hongwei, how much money can the venture capital invest in today?"

Gao Yang said: "Sister Xin, what I introduced to Zou Hongwei is that you can probably invest 3000 million US dollars, how about it?"

Xu Xin said: "Yes, 3000 million can still be invested. Let's talk about it later. It still depends on how Zou Hongwei plans and what specific plans he has..."

After the meal, Gu Yawen accompanied Xu Xin home to rest, and Gao Yang called Zou Hongwei and made an appointment for dinner in the evening.

At the dinner tonight, the two parties were still the same people as last night, except that Xu Xin, who represented today's venture capital, was added.

It was still scheduled to have dinner at the Capital Club. At the dinner table, Xu Xin initially communicated with Zou Hongwei by chatting.

Sitting in the tea room after the meal, Chang Dong took out his laptop, connected it to a projector, and formally introduced the relevant situation of Qihu Technology, and the next development plan of Qihu Technology after taking over the majority stake of 51 Guardians, as well as related projects in the medium and long term planning.

Gao Yang could tell that Zou Hongwei still took Xu Xin's visit very seriously. The PPT explained by Chang Dong should have been made in a hurry this afternoon.

Chang Dong explained for more than half an hour, and Zou Hongwei made some supplements.

Xu Xin is quite satisfied with the project development plan that Qihu Technology hastily prepared. After asking a lot of detailed questions, she said that today's venture capital can consider investing 3000 million US dollars, and jointly take over the majority of 51 guards with Qihu Technology. equity.

Xu Xin asked: "Mr. Zou, today's venture capital investment is 3000 million US dollars, and the 51% equity of 15 Guardians is received. After this investment is completed, how will it be converted into equity in Qihu Technology?"

Zou Hongwei said with a smile: "Mr. Xu, if we reach a cooperation with 51 Guardians, the next step will naturally be to discuss and arrange a new structure for Qihu Technology based on the valuation of Qihu Technology and the combined calculation of the two companies."

Xu Xin asked again: "Then how does Mr. Zou consider the current valuation of Qihu Technology?"

Zou Hongwei said: "Mr. Xu, Qihu Technology currently has a BBS search business, and has launched a new 369 safe browser, which currently has more than 100 million users.

We have also started to develop free anti-virus software. After taking over 51 Guardians, this business can be merged immediately.

In order to show the sincerity of cooperation, we discussed internally and determined a relatively cheap valuation level of 2000 million US dollars. "

Xu Xin smiled slightly: "Mr. Zou, I'm a straightforward person. Without considering the 51 guards, Qihu Technology is not worth 1000 million US dollars at present, and I can give 500 million US dollars at most.

Today's venture capital is investing in 51 Guardians. If 51 Group does not transfer 51 Guardians, it will be difficult for Qihu Technology to get up in the free antivirus market.

51 Guardian has an absolute leading advantage, and Goose Factory has also entered this market. With the traffic advantages of Goose Factory and 51 Group, Mr. Zou will not be confident that Qihu Technology can be late to strike, right? "

Zou Hongwei said with a smile: "Mr. Xu thinks that Qihu Technology's current valuation of 2000 million US dollars is relatively high, and I can understand it. However, the valuation of 500 million US dollars is really too low."

Gao Yang said: "Mr. Zou, Mr. Xu, I have a suggestion.

Qihu Technology took over the operation of 51 Guards, and it is also a partnership with 51 Group.

Before the IPO of Qihu Technology, each platform under the 51 Group can provide promotional channels for Qihu Technology at a discount of 2% to 3% off the market price.

As an exchange, Qihu Technology ignores the existing valuation, and converts the equity of 51 Guardians after the transaction is equivalent to the equity of Qihu Technology, how about it? "

Xu Xin said: "I think Mr. Gao's method is good and saves trouble. Mr. Zou, after Qihu Technology took over 51 Guardians, in terms of promotion, with the full support of 51 Group, we can hope to increase the traffic as soon as possible, especially the newly launched 369 Safe Browser."

Zou Hongwei said: "If this arrangement is made, it is not impossible. However, can the promotion support of 51 Group's various platforms be discounted by 1.5% according to the market price?"

Gao Yang thought for a while, and said with a smile, "You can get a 1.5% discount, but the time limit is two years. After that, before Qihu Technology goes public, the minimum discount can only be 6%."

Zou Hongwei said again: "Mr. Gao, we can also agree to this arrangement.

But I still have one hope, the equity transfer of 51 Guardians, in addition to today's venture capital's plan to take over 15% of the equity, Qihu Technology, IDG and myself, hope to jointly take over 55% of the equity. "

Gao Yang was startled: "Mr. Zou wants us to transfer a total of 51% of the equity of 70 Guardians?"

Zou Hongwei said: "Yes, Mr. Gao, from the standpoint of Qihu Technology, we still hope to have absolute control."

Seeing that Gao Yang seemed a bit embarrassed, Liu Xu whispered: "Mr. Gao, I can transfer 5% of the equity here, and I will keep 5% of the equity personally."

At the beginning, Liu Xu led the Guardian software team to join 51 Guardians, holding a total of 51% of the equity in 20 Guardians, of which Liu Xu personally held another 15%, and the other 6 people jointly held the other 5%.

This time, 51 Guardians plans to transfer a majority of its shares at a valuation of US$2 million. In Liu Xu's team, the other 6 people chose to sell all their shares to improve their lives.

5% of the equity is a real 1000 million US dollars. In just one year, the income has increased by more than 20 times.

Gao Yang thought for a while, then smiled at Zou Hongwei: "Okay, Mr. Zou, we can agree to your request."

When chatting last night, Zou Hongwei originally hoped to take over all the business of 51 Guards as a whole and take the entire team away, but Gao Yang and Liu Xu refused.

51 Group will still retain the company 51 Guard, but only transfer the desktop-level business, and the enterprise-level business will stay.

Liu Xu personally prefers to stay in 51 Group for development.

Now that Liu Xu is willing to transfer 5% more of 51 Guardians' equity, Gao Yang decided to reduce the 51 Group's shareholding ratio to 15% and transfer 45% to satisfy Zou Hongwei's wish.

In this way, the total consideration of this transaction is 1.4 million US dollars, and it is all paid in cash.

The framework transaction plan was quickly finalized in this way, and the next step is to go through the process, do evaluation and due diligence, and agree to complete it before the end of August.

51 Group plans to transfer only the majority stake in 51Guard's desktop business, including products, research and development, intellectual property rights, and related personnel who are willing to join Qihu Technology.

(End of this chapter)