Wind Rises 2005

Chapter 538
The logic of investment is never the same as that of entrepreneurship.

The purpose of starting a business is to make the company bigger and stronger, but investment is not necessarily the same.As long as there is a good return, even if it doesn't make a big difference in the end, you can still make a move.

If Deng Feng of Northern Light Venture Capital has the same plan as Ma Liang, then Zhang Sanshi of Hillhouse Capital wants to go one step further.

As an investor in a goose factory, he is very familiar with the social circuit.

And since he made a small profit from the goose factory, his understanding of investment has become more radical.

Bet on Goose Factory with one hand and [Kaixin.com] with the other. Bet on multiple parties without interfering with each other.

If you are good and I am good, then naturally everyone will be happy.

If [Kaixin.com] fails to live up to expectations, it will not prevent him from forming a bureau to broker a merger and acquisition transaction and let Goose Factory acquire [Kaixin.com].

In this way, as an investor, he can benefit from both ends.

Not only do you get more money, you get more money.

I have to say that Zhang Sanshi's investment philosophy is very good, and even has the arrogant attitude of [DST Global], an old investment institution.

In his previous life, Zhang Sanshi relied on this simple and crude investment philosophy to start his career. Today, he is just trying his best.

If it weren't for this, this guy wouldn't be bragging about "value investing" all day long in a few years, let alone talking about "adhering to long-termism" in investment.

Isn't it because Temeow is rich and willful? He behaves like no one else.

If you don’t have money and you insist on a “long-termism”, let me see. Maybe you will be more anxious to cash out than anyone else in a minute.

But having said that, most of Ma Liang’s plans for Twitter’s destiny-changing plan, especially the series of subsequent mergers and acquisitions he planned to carry out, were mostly learned from Comrade Lao Zhang’s operating techniques in his previous life.

Zhang Sanshi's investment is not only simple and crude, but also making money by making money has no bottom line.

Among domestic investors, when it comes to betting on both sides, and making big bets, the key is to make big profits on both sides. He, Zhang Sanshi, is ranked second, and no one dares to be ranked first.

As a result, this guy ruined the trend, and the tyrannical big guys in the domestic venture capital circle learned this trick one after another, and they made hedging bets at every turn.

The venture capital's cultivation model is really played clearly, and you can't accept it even if you don't accept it.

When it's time to make money, all the "value investing" and "long-termism" are completely forgotten, as if they didn't even exist.

An entrepreneur who had invested in Hillhouse Capital in his previous life chose to take a more aggressive approach and posted online to expose the ugly appearance of this investment tycoon.

Qiming Venture Partners was even more ruthless. It directly caused a "stealing incident" of trade secrets by a startup company that had bet on both sides. It didn't even give an explanation afterwards. It was really shameless.

So when it comes to investing in [Kaixin.com], Zhang Sanshi is more radical than Ma Liang and Deng Feng.

He didn't care about [Kaixin.com] becoming bigger and stronger at all. In fact, he just wanted to disrupt the domestic social scene.

When [Kaixin.com] develops to the point where it can pose a threat to the Goose Factory, I will be ready to encourage Brother Xiao Ma to acquire [Kaixin.com].

In this way, the 1000 million US dollars he invested may be returned several times, or even more than ten times.

It has to be said that he made this little calculation, even Ma Liang heard it sitting across from him.

After all, he is not like the other investment tycoons in the conference room. These people don't know Zhang Sanshi at the moment, but in his previous life, the venture capital media had often exposed this veteran.

However, although Ma Liang knew it clearly, the other investors couldn't figure it out. They really thought that [Kaixin.com] had some potential that they had not discovered.

But Ma Liang would not be so kind as to expose Zhang Sanshi's plot.

Essentially, isn't he planning to make a small fortune through [Kaixin.com] just like others?

"Mr. Zhang, please just lie now!"

Feng Bo, a partner of Lianchuang Ceyuan, couldn't help but sneered when he heard this.

Zhang Sanshi smiled slightly and replied nonchalantly: "Mr. Feng, look at what you said, I am a very honest person.

Whatever Mr. Ma and Mr. Deng plan, I will plan. Isn’t investment just about seeking consensus? "

He immediately retorted. On the one hand, he defended the legitimacy of his actions; on the other hand, he mocked the other party as a poor guy who was long-winded. If you can't afford it, don't play.

"Haha, Mr. Zhang, do you think I can't tell what your plan is?

Mr. Ma and Mr. Deng decided to invest in [Kaixin.com]. I really didn’t think it through at first, but you actually followed suit and invested 1000 million US dollars.

If I still don’t understand this, I don’t have to hang out in the venture capital circle.

Are you thinking about using money to smash [Kaixin.com] out? Even if you fail to do it later, you still have a chance to be acquired at a high price.

Moreover, several people may have already decided on this acquirer, which is Goose Factory. I am right. "Feng Bo immediately revealed their little thoughts without any politeness.

After all, Zhang Sanshi invested 2000 million US dollars in Goose Factory as soon as he returned to China, and continued to add more to support the development of Goose Factory.

As an investor in a goose factory, he actually wants to invest 1000 million US dollars in [Kaixin.com]. If there is nothing fishy in it, even a dog would not believe it.

At this moment, all the investors present reacted.

Kuang Zijue, the founding partner of Qiming Venture Partners, immediately said anxiously: “I never expected that the domestic venture capital circle could be so arrogant.

It is true that the waves behind the Yangtze River push the waves ahead. Compared with you, I feel old.

Mr. Ma, Mr. Deng, and Mr. Zhang, you are so generous. You will spend money on the project as soon as you start. It is conceivable that this kind of thing will happen, and you will not accept it.Since this is the case, then I will give up this old life and play with you.

I invested 500 million US dollars..."

"Why? Lao Kuang, if you take another 500 million U.S. dollars, won't your trip today be in vain?"

Feng Bo was unhappy on the spot. Although Lianchuang Ceyuan was not well-known, they still had some strength.

It’s not too stressful to invest a few million dollars to have fun.

Now that this capital game of spending money and burning projects has basically taken shape, and several key figures have recognized it, anyone who doesn’t play in this game is a fool.

At least Feng Bo wouldn't view himself this way, so he had to fight to get in.

As a result, when he yelled, other investors present also started yelling, with a posture of "If you don't let me invest, I will kill you."

The meeting room was noisy for a while, but Chai Jin was extremely happy.

He glanced at Ma Liang proudly, thinking that he was right to invite his brother here this time, otherwise there would be no such good effect.

Look at the competition in front of you, [Kaixin.com] doesn’t have to worry about the next round of financing.

One thing is that Ma Liang was shocked by the investors present who fought for every cent. He felt that the butterfly effect brought about by his rebirth was getting bigger and bigger.

If [Kaixin.com] had a lot of money to burn from the beginning, no one can say what it will develop into in the end.

Although it is a bit impossible to kill the goose factory, it will definitely not stretch the crotch like in the previous life.

It may not even be like Zhang Sanshi said, playing for two years and then being acquired by Ma Ge from Goose Factory.

If Cheng Binghao is really tough, he might become a very successful Internet company.

Ma Liang is now unable to judge the future development trajectory of [Kaixin.com]. After all, judging from the quarrel in the conference room at the moment, [Kaixin.com] has embarked on a different route.

In the end, after two or three hours of wrangling and negotiation, a group of investors finally reached a consensus.

Five institutions [Dafeng Capital], [Tianhao Capital], [Hillhouse Capital], [Northern Light Venture Capital], and [Sina] divided the investment quota of 2000 million U.S. dollars in different proportions.

The remaining seven or eight investment institutions divided the remaining 1000 million US dollars.

The A round of financing has been finalized, and investors with small shares are even beginning to worry about the next round of financing.

If Ma Liang hadn't stopped him, he wouldn't have been able to finish today.

Chai Jin was very happy that the things hanging in his heart were finally settled. He planned to invite all the investment tycoons present to have a feast, and everyone responded in succession.

After all, today’s capital bureau is truly unprecedented in the domestic venture capital circle.

A website that has only been online for a few days can attract a lot of big guys to spend money on the project, and few people will believe it.

Official Chai led everyone downstairs and went straight to a top-notch courtyard house in the capital, where private dishes from the palace with a per capita consumption of four digits were waiting for everyone to enjoy.

Cheng Binghao deliberately slowed down and fell behind, walking side by side with Ma Liang, hesitant to speak.

"Mr. Cheng, do you have something to tell me?"

How could Ma Liang not understand? He immediately asked.

Cheng Binghao then asked sheepishly: "Mr. Ma, are you, Mr. Deng, and Mr. Zhang so unfavorable to [Kaixin.com]?"

He was still struggling with the initial dispute in the conference room.

The expressions on the faces of many investors were quite unconvinced that the best outcome for [Kaixin.com] would be to be acquired by Goose Factory.

"Hey, Mr. Cheng, you don't have to tell me this!
[Happy.com] What the outcome will be is completely decided by you, the leader.

To put it bluntly, the start of your business is unique in the entire domestic venture capital circle. Even BAT and the three major portals are not as good as Kaixin.com when they first started their business.

If you can't do this, you can only blame yourself for being incompetent. "Ma Liang was not polite at all, and even lectured and provoked the general back.

Cheng Binghao was stunned. He didn't expect the young man in front of him to be so direct. He was speechless for a moment: "Mr. Ma, this..."

“Mr. Cheng, needless to say, no matter how difficult it is for [Kaixin.com], can it still be difficult to beat Twitter?
You must know that the enemy Twitter faces is Facebook and Microsoft behind it.

If you don't agree with me, I will do it. If you are really capable, just follow Twitter's model and do it to death.

Even if we can’t bring down the Goose Factory, we can still make Kaixin.com bigger and stronger.

For us investors, no matter what the outcome is in the end, we can actually accept it.But if [Kaixin.com] can become bigger and stronger, wouldn’t everyone be happy? "

Ma Liang directly drew a piece of pie and gave the other party a shot of chicken blood.

In fact, he still had a vague expectation in his heart. He wanted to see Cheng Binghao toughen up and achieve a completely different result from his previous life.

What happened to the goose factory? What a hammer.

He can even use Twitter and Facebook. Why can't [Xinxin.com] think about it?

Again, if you don’t accept it, just do it!
(End of this chapter)