Rebirth of the internet boss

Chapter 91 VAM Agreement (Two in One)

Sun Zhengyi is a real boss active in the world Internet, but now Fengrui has not even gone out of the country.

Li Feng also offered his hand immediately, and said: "Mr. Sun, welcome to come, your visit will make our Fengrui company flourish!"

Sun Zhengyi can speak fluent English, so Li Feng led Liu Zhiping to receive Sun Zhengyi. He is the president of Fengrui and can also act as an interpreter for himself.

Although Sun Zhengyi was surprised by Li Feng's youth, almost everyone who saw Li Feng for the first time would have this feeling, "Li Jun, thank you! Please forgive me for taking the liberty to visit!"

After a pause, Sun Zhengyi smiled again, and added: "I have seen many outstanding entrepreneurs, but there are very few people like Li Jun who have achieved such achievements at such a young age. I seem to have seen a Rise of the 'Bill Gates' of the East!"

Li Feng was also "flattered" and said: "Mr. Sun, you are so polite. Who doesn't know that you are a real young genius. At least half of Softbank's achievements should be due to you."

Sun Zhengyi thought that Li Feng would be "rebellious" after such a great achievement, but he didn't expect that he was more like an "old fritter" who had been in the industry for many years, and his words were tight.
Although Sun Zhengyi has had many famous investments, in fact Sun Zhengyi has always been an impulsive and impatient "tyrant".
Seeing Li Feng's "no oil and salt", Sun Zhengyi said directly "straight to the point": "I believe that when I come, Li Jun should also understand that Fengrui's current achievements are very good, and there are talents like Martin joining.
And I am also very optimistic about the future development of Fengrui. Fengrui is like an undiscovered gold, especially Fengrui has an excellent founder like you, which makes me very excited, and my arrival will further promote Fengrui's future. development of,

So you can directly make a price, as long as it is suitable, you should know that I have always been very generous. "

After hearing what Sun Zhengyi said, Li Feng smiled and did not answer directly. Instead, he asked Sun Zhengyi a question: "Mr. Sun, you said Fengrui has so many products, which one has the greatest potential?"

Sun Zhengyi has studied Fengrui, and gave his own answer directly: "I am here this time for Renren. I think the potential is huge.

But how big it is, I don't know, after all, there is no comparison in the United States..."

At this stage, China’s Internet is all copied from the United States, and even when it goes public, it must be listed as “I am China’s Google” and “I am China’s EBAY”...

Then, Li Feng said: "Mr. Sun, do you know why I established Renren?"

Before Sun Zhengyi could answer, Li Feng gave his own answer: "I found that there are many websites on the Internet, where you can find almost everything: news, music, books, movies.
But no website can help us find the most important thing in life: people!For people, they prefer to pay attention to the important people around them.

Therefore, I think the second stage of the Internet is social networking, and our Renren.com aims to connect everyone in the world and become a website that no one will leave. "

Sun Zhengyi has always been a visionary, which is an image he has worked hard to create, and he also said, "It is easier to foresee the future 30 years from now than 3 years from now."

But even as Sun Zhengyi, who has been investing in the Internet for many years, he has never seen anyone with such profound insights into the Internet.

But when Liu Zhiping was translating next to him, he felt very familiar, and suddenly remembered that this was what Li Feng said when he invited him!So Liu Zhiping complained in his heart, the boss must not have fooled me at that time!

Sun Zhengyi directly praised: "Li Jun, you are a real super genius, and you have strengthened my determination to invest. Please tell me your price!"

Li Feng knew that Sun Zhengyi was a man with a sentimental personality, and he was quite capable in investing in things he valued.

Therefore, Li Feng still smiled, and then further explained his theory: "The Internet of the future will be a network of relationships centered on people.
The Internet will become a network of people, and relationships, interactions, information, and services will be reorganized on the basis of human networks.

Just as what Google has changed is "the way people obtain information", Renren's future is to change the "way of interaction between people", which will have a more profound impact on our future! "

At this time, Sun Zhengyi stood up passionately and gave his answer directly, "Li Jun, I believe in you! Before the financing, I gave Fengrui a valuation of 2 million U.S. dollars, and I plan to invest 1 million U.S. dollars, only accounting for Fengrui. How about 30% of Rui’s shares?”

An ex-ante valuation of $2 million? ! $1 million? ! 30% of the shares? !

This series of generous conditions, even Liu Zhiping almost cried out excitedly, and even wanted Li Feng to hurry up and agree, this is real money.

But Li Feng was furious, and shook his head decisively: "No!"

Sun Zhengyi also thought that Li Feng thought the valuation was too low, so he replied directly: "Then the pre-valuation is 3 million U.S. dollars, and I will invest 2 million U.S. dollars, which will only account for 40% of the shares."

Moreover, Sun Zhengyi also explained why he only holds 40% of the shares, so that Fengrui can maintain a relative controlling stake.

Now Liu Zhiping couldn't sit still. He even doubted what he just talked about. The unit was RMB, not US dollars. Otherwise, the two of them would not take money seriously.

It was only then that Li Feng truly felt Sun Zhengyi's "gambler" mentality, courageous, daring to put all his eggs in one basket, and directly adding 1 million US dollars, even Li Feng couldn't help but sigh in admiration.

Taking a deep breath, Li Feng said unhurriedly: "Mr. Sun, it's not about the money. I won't sell so many shares for the first time!"

Sun Zhengyi understood Li Feng's meaning and knew the founder's control over the company, especially the Chinese people have a strong desire to control,

So Sun Zhengyi nodded and said, "Okay! It's still the pre-valuation of 3 million U.S. dollars. I invested 1.5 million U.S. dollars, accounting for 33% of the shares, and I can also allow Fengrui's management to cash out 1000 million U.S. dollars."

What a seductive atmosphere, it's like a stunning beauty lying naked in front of you, are you going to get it?

At this time, not only Liu Zhiping, but even Li Feng was very tempted.

Seeing Li Feng biting his lower lip, and his childish face struggling violently, Sun Zhengyi knew that Li Feng was almost on fire,

Therefore, Sun Zhengyi decided to add another fire. He first said in a persuasive manner: "In addition, I can also help Fengrui to expand rapidly in the international market through the platform of Softbank!"

Then, Sun Zhengyi threatened: "If Fengrui does not agree to my shareholding, I will invest this money in Fengrui's competitors, Shengda, NetEase, or Tencent... I believe there are still many Internet companies in China. This money is needed!"

If ordinary people will definitely be defeated by Sun Zhengyi's "radish and stick" style of play,
But when Li Feng heard Sun Zhengyi's threat, he stabilized instead, "I am destined to be the man who will become the Pirate King",
Isn’t this the way Internet giants like Tencent and Ali in later generations use “traffic + capital” to often treat emerging “unicorns”!
Tencent or Ali: If you don’t let me take a stake, I’ll invest in your competitors, and then kill you in turn.

The "Unicorn" had no choice but to say silently: "Tengxun, Papa Ali, please hurry up, I'm afraid of pain."

In the PC era, venture capitalists would ask, what if BAT copied you?
In the mobile era, venture capitalists will ask, what if BAT does not invest in you?
And Li Feng is a typical guy who "eat soft but not hard", he directly refused: "Mr. Sun, I am not scared too much!

If I can't hold a controlling stake in my company, no matter how attractive the conditions are, I won't agree to take a share; and if I can't even control my company, then I'd rather sell it! "

Sun Zhengyi was stunned. Seeing that Li Feng had once again rejected his offer, he said displeasedly: "Li Jun, isn't it enough for me to give you such a generous condition! Besides, what you just said are just concepts. Not a product yet!
Besides, an enterprise will definitely encounter all kinds of troubles in the development process, and no one can guarantee whether it will succeed in the end! "

However, what left Sun Zhengyi speechless was that Li Feng nodded more confidently, and even said boldly: "Whether other companies will succeed, I don't know, but I am sure that Fengrui will succeed, and will Achieve unprecedented success!
And I think Fengrui Company is definitely not worth such a price now. I believe that Fengrui Company's future market value will far surpass Yahoo! "

Sun Zhengyi suddenly had a feeling of belief. Even though Fengrui is still a grassroots team, Sun Zhengyi also believes that Li Feng will succeed.
But when Sun Zhengyi heard that Li Feng specifically said that he wanted to surpass Yahoo, Sun Zhengyi stared at Li Feng closely and asked, "Do you know what the market value of Yahoo is now?"

Yahoo is definitely considered a classic investment by Sun Zhengyi. Although Yahoo has experienced the "Internet bubble" and its market value has been cut in half, it is also an Internet company second only to Microsoft.

Li Feng also looked at Sun Zhengyi with confidence. These are firm and profound eyes!
Of course Li Feng knew about the future of Yahoo. It could have been the "father" of Google and Facebook, or the "son" of Microsoft, but in the end it was sold cheaply like a "grandson" and became an "abandoned son" of the Internet wave.

After a while, Li Feng said slowly: "Mr. Sun, you think that the pre-valuation of 3 million US dollars and the 1.5 million US dollars in shares are a big advantage for me, but in my opinion, the real advantage You are the one who got the big deal!"

Without giving Sun Zhengyi a chance to speak, Li Feng suggested: "People say that Mr. Sun is 'good at gambling', so let's take a gamble.

1 million US dollars, now accounts for 20% of the shares.

If after three years, the valuation of Fengrui reaches 100 billion US dollars, even if I win, you lose half of my shares, and you will give me another 10% of the shares;
If after three years, the valuation of Fengrui does not reach 100 billion US dollars, I will lose to you double the shares, that is, give you another 20% of the shares;
How about it?Mr. Sun, bet or not! "

At the end of the talk, Li Feng stood up excitedly. He had been following Sun Zhengyi's rhythm just now, and he had mastered the rhythm in front of Sun Zhengyi for the first time.

When he heard that Li Feng was going to bet against the capital, Liu Zhiping seemed to wake up all of a sudden, he quickly pulled Li Feng, and motioned: Don't bet!Don't bet!Don't bet!
Liu Zhiping couldn't be more clear about the result of betting against capital, because from the moment you sign, you have already lost.

Just like someone spurs you, they will force you to achieve that goal, and you will make some inappropriate strategic decisions for short-term benefits. Even if you succeed in the end, you will lose a lot of things.

For example, Chen Xiao gambled with capital, lost Yongle Electric, and finally sold himself to Gome; Li Tuchun, the prince's milk, lost the prince's milk; Zhang Lan, the mother-in-law of Big S, lost to South Beauty...

There are very few successful cases, but our brother Dong, Liu Qiangdong, succeeded in betting against each other.

Li Feng patted Liu Zhiping on the shoulder and motioned: "Trust me!"Believe me!Believe me!

Li Feng is also aware of the consequences of betting against capital, but this is also a way to increase the company's valuation, but Li Feng has never done anything he is not sure of. With Li Feng's understanding of the development of the Internet, it is perfect .

Sun Zhengyi listened to Li Feng's gambling conditions, pondered for a moment, and suddenly asked, "Li Jun, 1 million US dollars accounted for 20% of the shares, so you mean that the current Fengrui is worth 4 million US dollars,
I don't know how you got it, do you rely on the concepts you just mentioned? Although I believe that Fengrui will be very valuable in the future, it is not worth so much now!And you didn't even mention the final profit method! "

However, Li Feng said disapprovingly: "Most of the listed Internet companies are probably not able to make ends meet, right?
Mr. Sun should understand very well that only free things have the opportunity to create a de facto monopoly!Just like "Bat Webmaster"! "

monopoly!What an imaginative thing!

"can!"

Sun Zhengyi finally thought about it, and could only nod his head in agreement, "But I will leave the financial staff to supervise the use of the 1 million US dollars, and Fengrui will set up a board of directors, and our Softbank must have seats that match the shares."

"This is what it should be! Finally..." Li Feng pondered for a moment, and said, "It must be stated in the contract that if Softbank Group sells Fengrui's shares, Fengrui and I have the priority to buy them back at the market price!"

There is no objection to this point, Sun Zhengyi also nodded in agreement, and he also put forward a condition: "Within three years, if it is not because of SoftBank, Fengrui must have a listing plan."

This is Sun Zhengyi's last retreat. Once he finds out that Li Feng has fired his cannon, he still has enough chances to cash out and leave.

"No, I will formulate all Fengrui's strategies. If not, I can buy your shares with a valuation of 100 billion." But Li Feng directly vetoed it. IPO is a big event, and generally It takes more than a year to prepare.

Sun Zhengyi had no choice but to agree, and Sun Zhengyi felt that Li Feng didn't value his investment very much.

In fact, with the current profit scale of Fengrui, financing is not required at all, but for the future layout, Li Feng still chose financing.

As Ma Yun said, "You must raise money when you are making money, when you don't need money, and fix the roof on a sunny day, not when you need money." .”

And before the actual signing, Li Feng asked Liu Zhiping to add another item, to make "Alipay" independent. Li Feng didn't want to leave such a stain on himself like Ma Yun in the end!
Sun Zhengyi saw that he didn't say anything, and Sun Zhengyi didn't even know what "Alipay" was.

Until the end, when neither of them had any objections, did Liu Zhiping and the legal personnel brought by Sun Zhengyi start to draw up the contract.

This should have been the greatest investment in the history of human investment, none of which beat all professional equity investment institutions,

It should have become Sun Zhengyi's most classic investment, but it is a pity that Sun Zhengyi was forced to cash out in advance.

南非MIH 2001年以3400万美金投资腾讯，最高时一度持股至50%，17年收益增长近5000多倍，年复合增长率64.94%。

孙正义2000年以2000万美金入股阿里，18年增长7000多倍，年复合增长率63.6%。

Buffett has been in charge of Berkshire Hathaway for 53 years, and the stock price has risen from $11 to $29.7 per share, an increase of 2.7 times, with a compound annual growth rate of 21.23%.

It is easy to earn 10% a year, but it is rare to maintain 10% growth every year. "Persistence" is the most valuable quality.

After the financing agreement, Fengrui finally formed the board of directors.

Fengrui implements a partnership system with different rights for the same shares. The board of directors finally adopts a five-vote voting system. The chairman and chairman personally hold two votes, and the remaining shareholders have three votes.

Among the five votes, Li Feng, as the chairman of the board of directors, has two votes, and Liu Zhiping, who was nominated by Li Feng, has one vote.
Because in this way, Li Feng, who actually controls 3 seats, will have the undisputed right to decide the fate of the company from now on.

Among the other two votes, Sun Zhengyi, who holds 20.00% of the shares, has only one vote, and the other director seat is vacant, which is temporarily managed by Li Feng;

And if the directors of these two seats disagree with Li Feng, Li Feng has the ability to immediately appoint two new directors. Of course, the new directors must vote according to Li Feng's instructions.

This further consolidated Li Feng's status as a hereditary king in Fengrui Group.

Later, Li Feng also mentioned in his autobiography: I prefer to regard Fengrui as a family company. Only me and my approved successor can control the entire Fengrui Group forever.

　It’s the first time I write a novel with such a feeling, I almost forgot to update it, it’s almost 5 words, everyone still needs to vote more if you’re okay!As for why you chose Softbank as a shareholder, it is all for the future plot, I believe many students can guess it!
　　
　
(End of this chapter)