I Won a Prize of 100 Million at the Beginning, and I Became a Capital Boss

Chapter 103 Investing in Little Red Book!
Jiang Nan really wanted to be Zheng Wentong's administrative secretary, but it was a pity that Zheng Wentong set a marriage condition that got her stuck.

She couldn't get married first in order to become Zheng Wentong's secretary. This sacrifice would be too great.

Although she is the oldest employee in the company, Zheng Wentong has gradually marginalized her.

In Ramp Capital, secretary Xu Ru and finance manager Yao Yutong are Zheng Wentong's absolute confidantes.

Zheng Wentong also values ​​Wang Zhiliang from Weike Xinke, Zhang Yi from Puhai Interconnection, Liang Hui from the Equity Investment Department, and Unit Ping from the Securities Investment Department.

Although A-shares are currently in a downturn, Unit Ping led securities investment to buy Hong Kong Island stocks through Shanghai-Hong Kong Stock Connect.

Puhai Interconnection is currently in a good situation. Kuaishou and Jinri Toutiao have invested a lot of advertising money in universal WIFI. At present, universal WIFI still firmly occupies most of the market share.

The number of registered users of Wei Toutiao is increasing, and the number of users is expected to exceed [-] million before New Year's Day, and the Weidu APP will be launched soon.

Weike Xinke has all moved from Lujiazui Software Park to Zhangjiang Jidian Port. The sky is far away from the emperor, and she can't get any information.

Weike Xinke is now an independent accounting subsidiary with its own administration, finance and legal affairs.

Wei Toutiao has already begun to test the advertising business. After all, with tens of millions of users, it is impossible to give up the biggest source of income.

A few days ago, someone wanted to ask through her whether Weike Xinke has achieved profitability and whether it needs to transfer funds from the parent company's slope capital.

But this core secret is only known to Zheng Wentong and Yao Yutong, so how could she, the administrative manager, know it?

Moreover, Jiang Nan felt that Zheng Wentong had already started to be wary of her. The last time Li Hongying's job occupation was dealt with was a warning. After all, as a company employee, she also had the obligation to keep it secret.

Because casual disclosure of seemingly insignificant information may affect the valuation of Weikexinke and Zheng Wentong's next plan.

Jiang Nan is extremely unbalanced in her heart now. She thinks that she is the veteran of the company, but the new managers have higher salaries than her.

When Zhang Yi first joined the company, she still looked down on this IT guy, but now she and Guo Yuxin have obtained their certificates on National Day.

Zheng Wentong also cashed in Zhang Yi's 1% stake in Interconnect, which is now worth tens of millions.

When Zheng Wentong promoted a secretary to the general manager from within the company, she was gearing up for it. As a result, Xu Ru won Zheng Wentong's favor by virtue of her outstanding performance in the fireworks show, and then became Zheng Wentong's own person.

If Zheng Wentong recruited a new administrative secretary, Xu Ru might be promoted to assistant to the general manager, which would be one level higher than her as the manager of the administrative department.

Among the managerial positions of Ramp Capital, Jiang Nan has the lowest salary, but it is actually only superficial.

After all, administrative jobs are highly replaceable. Even if she leaves, Zheng Wentong can recruit again at any time, and she will definitely not be able to find a better job after leaving.

There was a personnel change in Pujiang District in October. The secretary and the district chief were dismissed for eating and drinking with public funds for many times.

On October 23, Zheng Wentong visited the headquarters of Xiaohongshu. Xingyin Information Technology Co., Ltd. is located on the 2nd floor, Building C, SOHO Fuxing Plaza, Madang Road, Pujiang District.

The founders of Xiaohongshu, Mao Wenchao and Qu Fang, are both in the company, and Zheng Wentong has dealt with them several times.

When Director Lu visited station B, Himalaya and Xiaohongshu on New Year’s Day last year, Zheng Wentong visited the headquarters of Xiaohongshu with Director Lu, city leaders and district leaders.

Since last year, Ramp Capital has been in touch with Xiaohongshu, but Mao Wenchao and Qu Fang have different opinions on whether to accept Ramp Capital’s shareholding.

Although Xiaohongshu needs financing, it does not lack investment structure to invest in shares. The most important thing is to see whether the new investors can bring new resources or better business realization prospects to Xiaohongshu.

Now Universal WIFI users have exceeded 3 million, and it is about to start the B round of financing. IDG Capital, Haitong Kaiyuan and Jinxing Venture Capital are going to continue to follow suit. It has doubled during the round of financing.

The number of users of Weitoutiao has also exceeded 8000 million, and the number of monthly active users of Weitoutiao has exceeded 1500 million. The algorithm recommendation of Weitoutiao is very powerful, and the average retention time of each active user is more than 60 minutes per day.

As the female founder, Qu Fang first joked with Zheng Wentong, "Every time I see Mr. Zheng, it feels like you have an extra [-] million in your personal pocket."

Zheng Wentong laughed, "Mr. Qu is really good at joking, so I must buy a house next door to Mr. Qu. I will meet him sooner or later. At the most three or four years, I will become the richest man and surpass Mr. Ma!"

Mao Wenchao also laughed, "The upper garden that Mr. Zheng bought is one of the few old garden houses in Puhai City. I want to be neighbors with Mr. Zheng again."

"This kind of opportunity is hard to come by. Next time if there is a similar good house, I will definitely notify Mr. Mao. Therefore, if you encounter a suitable opportunity, you should firmly grasp it." Zheng Wentong said with a pun.

Qu Fang has always been willing to invest in Slope Capital, while Mao Wenchao has been vacillating.

"Thank you Mr. Zheng for your suggestion. I invite Mr. Zheng to come here today. I also hope that you can give Xiaohongshu a pulse."

Mao Wenchao paid attention to the first foreign investment of Ramp Capital. Apart from being rich, the newly established Ramp Capital didn’t have any Internet resources. It was the successful investment in Station B that attracted the attention of people in the industry.

However, as long as it is a company invested by Slope Capital, its valuation and revenue will increase. Xu Yi from station B, Yu Jianjun from Himalaya, and Cai Haoyu from Mihayou Technology have all publicly admitted that Zheng Wentong has brought a lot of help to their companies.

Station B acts as an agent for "Honkai 2", which has brought a stable stream of traffic to the website. Himalaya's efforts in smart speakers and Internet of Vehicle users have significantly improved the users of Himalaya. Slope Capital has established overseas distribution channels, and "Honkai 2" has been successful. Logged into the Japanese and Korean markets, and the revenue of the game's overseas market exceeded tens of millions of dollars.

After more than half a year of Ramp Capital’s development, Mao Wenchao’s attitude has loosened. He let go of his ego and sincerely asked for advice.

"I don't dare to take the pulse." Zheng Wentong's attitude is modest. "I can only say that we can discuss together. In the Internet field, we often cross the river by feeling the stones."

"VCs like to find templates for domestic Internet companies in Laomei. Taobao is benchmarking against eaby, JD.com is benchmarking against Amazon, Renren.com is benchmarking against Facebook, and Xiaohongshu is benchmarking against Pinterest. Actually, I don't like this kind of argument. They seem to be It is said that there is no innovation in the domestic Internet, it is all imitation, and it can only survive by relying on the huge domestic user base.”

Mao Wenchao felt the same way, "I think so too, but without a template, it is difficult to give an accurate valuation."

"I made some investments in the entertainment industry this year. For example, the founder of our Internet company should be a director, and the investment structure that helped us go public is a producer."

"The director produces high-quality content to present to the audience within the budget, and the producer is responsible for selling movies and TV series at a good price."

Qu Fang understood Zheng Wentong's meaning, "Zheng always said that we should not be too obsessed with the increase in valuation, but based on Xiaohongshu itself, to provide more users with better content."

Zheng Wentong responded, "What Mr. Qu said is right, the problem of Xiaohongshu now is the grass-planting community and community e-commerce. Which end do you want to position? If you want to do well at both ends, it means that the four are different, and it is easy to lose old users. .”

"But the valuation of community e-commerce is relatively high, and investors are more optimistic about the commercial realization prospects of Xiaohongshu—"

Mao Wenchao understood now, "Mr. Zheng advised us to do our best to make the grass planting community a good one, and not to invest too much energy in e-commerce, but when your company contacted us, they also expressed their willingness to build a bonded warehouse in Hangzhou with us. .”

"This is not contradictory. The proportion of female users on Xiaohongshu is higher, and the demand for beauty makeup and skin care products is undoubtedly higher."

"Xiaohongshu can rely on the grass-planting community to create popular models, so that it can have strong bargaining power when facing manufacturers directly, especially some overseas brands that are new to the domestic market, and sell online through the community fermentation word-of-mouth of Xiaohongshu, which is better than traditional brands. Offline channels reduce costs and shorten time."

"We can reduce our self-operated e-commerce business and only represent overseas health care products, cosmeceuticals, and beauty brands. This part has relatively large profit margins."

"We can also cooperate with grass-growing experts, and through the turnover they divert, we can give them business rebates and cultivate a group of star promoters."

"But the prerequisite is that it must be the real user experience of the experts, and it cannot be advertised for the sake of selling goods. Popular models must win by quality, not by quantity."

Qu Fang expressed doubts, "However, the subjective impression of skin care products is very strong, and many users are preconceived, how to persuade users to adopt a small and beautiful brand."

"La Mer is no different from baby cream. Skin care products are a scam. Female users pursue a refined life, but some people's income simply cannot support this kind of life."

"For example, the female users of Xiaohongshu post about travel, luxury hotels, luxury cars, and brand-name bags every day. In fact, it is more or less true. We know in our hearts that most of the people who flaunt their wealth on social media are empty airs. "

"They need to set up people. I am very successful. I am worth hundreds of millions. I live in Tomson Yipin, No. [-] Shenzhen Bay, accompanied by beautiful women, and countless luxury cars. Post a video, and a dozen people share the same office background."

"These people are actually invalid users. Except for some unrealizable traffic, I live in a luxury hotel for 5 a night today, and buy a luxury car for 200 million tomorrow. Even if you add a shopping cart link, no one will download it. one."

"Perhaps some female users are using Xiaohongshu to create a strong image of themselves, so as to raise prices in the market?"

Qu Fang raised his head and asked Zheng Wentong, "What market is Mr. Zheng talking about?"

"Marriage market, what does Mr. Qu think I'm talking about? It's impossible for Little Red Book to be pornographic."

Xiaohongshu has completed tens of millions of dollars in Series B financing in June this year, led by GSR Ventures and followed by GGV Capital.

On October 10th, Xiaohongshu obtained the B-round financing from Slope Capital. Slope Capital invested 27 million US dollars, a total of 1500 million yuan, and held 9600% of the equity of Puhai Xingyin Information Technology Co., Ltd. Xiaohongshu was valued at 7.5 billion dollars.

Slope Capital and Xingyin Information Technology also signed a cooperation agreement. Slope Capital invested 6000 million and Xiaohongshu contributed 4000 million to jointly build a bonded warehouse in Hangzhou.

"It's been a long time since Mr. Zheng persuaded the founder of an Internet company face-to-face!" Xu Ru still likes to see Zheng Wentong's high-spirited appearance when investing abroad.

Xiaohongshu was later valued at a maximum of around 200 billion U.S. dollars, and the old stocks of Xiaohongshu were once hard to find.The female users of Xiaohongshu are also highly overlapping users of the short video app Weiyin, so this financing negotiation must not be missed.

　Thanks to Shanmo Weiyun for being the first leader of this book!This boss also played a cameo role as Chen Dong, an important character in this book.

　　Thank you for the reward from Sunset, and thank you for the monthly pass. There is a problem with the computer. It was sent first, and it may need to be repaired.

　　
　
(End of this chapter)