Wind Rises 2005

Chapter 342 Humanity, Humanity

"Jack, I have a general understanding of the project.

To be honest, I'm personally very interested and bullish about the future of Twitter.I wonder if you have started the financing plan now? " Ma Liang asked afterward.

Jack Dorsey was overjoyed when he heard that: "Yes, Ivan and I have already discussed it, and we plan to raise $100 million in the first round.

I have talked with some investment institutions and angel investors before, and many of them are in the process of talking. "

He is not stupid, and naturally he will not confess all the cold reception of Twitter from investors. You must know that pan-social platforms have not had a particularly successful case until 2007.

On the contrary, acquaintance social platforms such as Facebook and MySpace are the consensus in the venture capital circle at this stage.

For example, when Twitter was first launched, it was once commented as a stupid idea by well-known analysts.

At present, the venture capital circle generally believes that the Twitter model is a false demand, because no one is willing to put their daily information on a website for everyone to read.

In the concept of many people, the fun of sharing can only happen in an intimate relationship network, and socializing with acquaintances is the correct path for social platforms.

As a result, Twitter later proved once again that the truth is often on the side of a few people.

When everyone was not optimistic, even the former shareholders of Twitter's parent company Odeo were not optimistic, Jack Dorsey led the team to create a miracle.

The success of Twitter has severely slapped many investment tycoons in the face.

Facts have also proved that those high-ranking investors are not as smart as they say.

In the past, all the investment methodologies and investment philosophies that were boasted all day were all bullshit.

If their investment theories are so effective, why do so many investment institutions have such a low investment success rate in early-stage entrepreneurial projects, even less than 5%.

So when Jack Dorsey talked about financing, the resentment flashed across his face.

If he couldn't find an angel investor, he wouldn't have brought the Twitter project half-sold and half-given to Odeo to start a job.

It turned out to be a good thing, obviously he was the founder of the project, but now he has become the younger brother.

He and Biz Stone only received part of the options, while Odeo boss Ivan Williams became the majority shareholder instead.

It is impossible to say that there is no resentment in my heart.

But who made Ivan Williams already a successful entrepreneurial veteran? He is playing the internal incubation model, so he is a ruthless angel investor.

But Jack Dorsey can't help it, and he can only choose to be forced to accept it because he has no way to finance.

After all, there is still some hope for this model, otherwise I will have to go back to work again.For a talented programmer like him who is desperate to start a business, it is impossible to work part-time.

Having experienced the burst of the Internet bubble and being unemployed for several years, he deeply understands that there is no way out for part-time jobs.

"US$100 million? How many shares are you going to sell?" Ma Liang followed suit.

Jack Dorsey stuttered a bit when he saw the drama: "Marlon, do you really want to vote?
Our psychological expectation is 100 million US dollars, selling 20% ​​of the shares. "

"Dear Jack, if it's this offer, wouldn't you value Twitter at $500 million?

For an early stage project, it's a bit high to be honest.

We must know that Google's valuation in the angel round was not so high. "Although he knows the future prospects of Twitter, it does not prevent Ma Liang from bargaining at this moment.

If you promise too happily, it will make people suspicious.

Although Jack Dorsey said he was a little eager for financing, he didn't intend to go back and forth with Ma Liang.

Having experienced the era of the bursting of the Internet bubble, he knew that financing is not that simple, and it cannot be finalized in a short while.

He stood up and said goodbye to Ma Liang, "Marlon, I'm so sorry!

Why don't we talk about it later, I have to prepare for tomorrow's promotional activities. "

After all, for Twitter, the most important thing at the moment is the SXSW Carnival’s promotional activities. As long as it can attract more registered users in the past few days and make more content release data, it will also have more negotiating weight when looking for angel investors. .

"Jack, don't rush away!

Just rely on those two big screens to manage how useful?Don't you want to arrange all the other sub-venues with promotional means?

In this way, more users can be absorbed. In order to talk about investment, Ma Liang started drawing big cakes again.

Jack Dorsey was confused: "Marlon, please forgive me for not understanding what you mean!"

"What I mean is, if you can accept my terms, we can sign an investment agreement immediately.

Within an hour, the angel investment money can be transferred to your company's account.

In this way, don't you have more funds to promote Twitter. "When Ma Liang said this, he couldn't hold back a smirk on his face.

Jack Dorsey was stunned: "What? Are you sure?"

Getting financing so quickly, even in Silicon Valley, the mecca of entrepreneurship, only exists in some legends.

Moreover, the protagonists of such legends are usually the second generations.

Google, which is as strong as an entrepreneurial myth, has never had such a smooth angel financing in the early stage of the project.

"I'm sure, as long as you can convince your partner, Mr. Ivan, to agree to my conditions, you can sign the investment agreement at any time, and I will immediately arrange finance to transfer the first money." Ma Liang immediately promised.

Jack Dorsey is moved. As long as he has money, no matter how well the marketing effect of this SXSW carnival is, there is no need to worry that the Twitter project will be so yellow for the time being.

And there are more funds to promote, and the advertisements cover the entire SXSW carnival venue, which may attract several times the number of users.

He asked excitedly: "Dude, tell me about your conditions!"

"I have two conditions. The first is that the Twitter project must be independent from Odeo and set up a separate company.

The second is that the project valuation should be slightly lower. My quotation is 400 million US dollars.

Dear Jack, how do you feel?
If the conditions are all right, the first money will be remitted to your designated account soon. " Ma Liang patiently explained.

If Twitter's valuation drops to $400 million, he can get 100% of the shares for $25 million.

When Jack Dorsey heard the conditions, he felt that he was not unacceptable.

But it was this valuation that made him a little embarrassed. After all, the offer of 500 million US dollars was negotiated by the boss Ivan Williams long ago.

He really wanted to have a few rounds of bargaining with Ma Liang after the carnival was over. After all, he would definitely have a lot more negotiating leverage at hand at that time, but now time is waiting for no one.

With the funds in front of him to expand the publicity, he didn't want to miss this good opportunity.

Because the SXSW Carnival, which is suitable for the publicity of technology companies, is only once a year.

Jack Dorsey replied with a look of embarrassment: "Marlon, the valuation really cannot be lowered.

If you can't accept it, then we can only continue talking after the carnival is over. "

He also has no choice. The big boss of the company is Ivan Williams. If he has the final say, he can agree on the spot.

"Jack, if you can convince Ivan to agree to my conditions, not only will I be able to invest in you immediately, but I will continue to vigorously follow up on the next round of investment.

The most important thing is the voting rights of the shares I hold, and I will support you unconditionally.

In this regard, we can even sign a separate commitment agreement in private.

Dear Jack, with my backing, there will be no challenge to your stewardship of Twitter.

After all, you don't want to be kicked out of the company's management by Mr. Ivan one day like Steve Jobs did! "

Seeing that the other party didn't let go, Ma Liang had no choice but to turn into a psychological master and play with human nature.

The expression on Jack Dorsey's face was very complicated. At this moment, he was experiencing a battle between heaven and man in his heart.

After all, they are people with high IQ, and they can make a decision in less than a minute.

He raised his head and said very simply: "Wait, I'll call Ivan right away."

Watching Jack Dorsey turn and leave, Ma Liang unconsciously revealed an evil smile.

Human nature, human nature, is so unbearable to the test!

(End of this chapter)