Wind Rises 2005

Chapter 559
“Dear Nick, how could you say that about me, it’s so sad.

As an entrepreneur, if I don’t even have the patience to ask about the price, then I will regret that I made the trip all the way from New York today. "

Jennifer sneered again without mercy. She knew exactly what conversation strategies to use when facing the rich second generation.

People like Nick Woodman not only want to be successful, but they also want their success to be as independent as possible from the legacy of their family.

Just like the domestic big shots such as Lao Ren and Lao Wang, after they became successful, they never said that their success was due to their father-in-law.

Even Master Shi Cong was unwilling to mention that his father had given him hundreds of millions to start a business.

Human nature is common, and Nick Woodman is not much better. He also wants to succeed, but he doesn't want to rely solely on his family.

Especially I don’t want my father to handle matters like financing.

Young Master Nick is now grown up and a man. He can definitely build the GoPro company through his own efforts.

So when he heard Jennifer mocking her again, not only was he not angry, but he felt ashamed.

My life has indeed been so smooth that I have never experienced too many ups and downs and hardships, and I have not even experienced any major grievances.

Just like the Internet game company Funbug he founded last time, he took no responsibility until the day it closed.

It’s still time to eat and have fun, unlike many failed entrepreneurs who are saddled with debt once the company goes bankrupt, or there are many lawsuits waiting.

So when faced with the provocative tactics of Jennifer, a beautiful investor, he not only didn't feel disgusted, but he really liked it.

Nick Woodman is also a man who dares to take action. He slowly sat down in his seat and replied firmly: "Okay, I guess you are right!
Then please let me know, President Jennifer, what is your [Dafeng Capital] quotation? "

He wanted to hear what kind of valuation the famous "Million Girl" would give.

If he is still dissatisfied, he will still drive people away...

"That's right!
If you want to succeed, you must have a pattern.

Regarding this, Young Master Nick should really learn from my boss. "

Jennifer looked at the rich second generation in front of her, and she couldn't help but think of her boss Ma Liang. Now in her heart, she already looked down on other young men.

What's more, the eldest son of the Woodman family is so different from the boss that they can't be compared together at all.

Although she thought so in her heart, the negotiation would continue, so she responded.

"But don't worry, once you accept our investment, I believe you will have the opportunity to meet the boss in the future.

As for the valuation and quotation, let’s keep it official.

Don't emphasize the strength of your Woodman family, and I won't play tricks on you. Let's just follow the common rules of the venture capital circle to value it.

As far as I know, GoPro only released its first digital action camera in 2006.

Revenue that year was only US$80, but by 2007, revenue had reached US$320 million.

This increase may seem huge, but in fact it is just a dividend that takes up a gap in the market.

Based on GoPro's revenue in recent months, it's clear that growth has slowed.

This fully demonstrates that the market ceiling of action cameras is very low and its future volume is also limited.

Therefore, according to the practice of the venture capital circle, it is relatively reasonable to give a valuation of about ten times to a startup company that operates physical products based on annual revenue.

But this is only a treatment that occurs under normal circumstances, and you also know the current market conditions.

The subprime mortgage crisis will only intensify. All investment institutions have recently had difficulty raising funds, so they will be very cautious in making moves.

With more wolves than meat, the valuation multiple of any startup is bound to be discounted.

As for physical products like GoPro, the space for imagination is actually very limited. Unlike Internet projects, there are all kinds of stories to tell.

After comprehensive consideration, a valuation of 6-8 times is very reasonable.

We can find a compromise, just 2000 million US dollars.

This valuation is an offer we made with all sincerity. It is by no means an attempt to take advantage of the situation or deliberately embarrass you. "

Jennifer analyzed everything, everyone should present the facts and be reasonable!
We [Gale Capital] cannot be allowed to be born into a big enemy. We know clearly that the economic crisis has a serious impact on the venture capital circle, but we still insist on giving high valuations when the market is good.

Sure enough, although Nick Woodman was very dissatisfied after hearing this, he was no longer as angry as before.After all, Young Master Ni knows very well that the investment and financing environment has changed since last year.

The situation is stronger than people, and people can't help it at all.

But he still would not agree easily: "Haha, is this your offer?
Ms. Jennifer, with all due respect, you [Dafeng Capital] are more evil than my father, that banker!
I had the nerve to scold Morey earlier, but the valuation you quoted was even lower than others.

No matter how bad that guy is, he gave GoPro a valuation of US$2500 million, but what about you?

$2000 million?Are you going to treat me like a beggar? "

Nick suddenly felt that the beautiful investor in front of him was a little too naive, and was far less professional than the media reports made him out to be.

My own father, Haolai, is also a famous bank investor in Silicon Valley. His valuation is only 2000 million US dollars, which is too much for the Woodman family to take seriously.

"Dear Nick, let me ask you a question, what are you raising money for?"

Jennifer naturally saw the contemptuous look in the other party's eyes, but she didn't take it seriously and still controlled the pace of the negotiation leisurely.

Nick Woodman blurted out without thinking: “Do you even need to ask?

Of course it is for the development of GoPro. As long as there are sufficient funds, I am confident that I can make the product better. "

Because of his hobbies and interests, he put much more effort into starting this business than the last time.

GoPro is more than just an action camera for him, it is also a bet on his honor as the eldest son of the Woodman family.

As long as there are enough funds, he firmly believes that one day he can take the company to Nasdaq to ring the bell.

"If that's the case, then why are you still struggling?
Could it be that the gap between us [Dale Capital] and that guy Morey is not worth a mere few million dollars?
You must never forget that we are different from other investment institutions.

We have always done our best to support the projects we have invested in, and Twitter has fully proved this.

Once it accepts investment from [Dafeng Capital], GoPro will receive support from various resources.

And we can also guarantee you the most direct benefit. As long as the investment agreement is signed, we will immediately bring a huge order to GoPro.

This order is enough for GoPro to change its guns and develop at several levels. "

Only then did Jennifer reveal her trump card, which was also the details that her boss had explained two days ago. She was instantly involved in the negotiation.

As the "Million Girl", she has used this trick countless times.

I have already become familiar with it, and I am extremely familiar with it.

Nick Woodman was immediately shocked: "Are you serious? What guarantee can you give?"

Haolai is the eldest son of the Woodman family, so naturally he will not be too naive and believe it easily.

If there is no guarantee, isn't it just empty talk and nonsense? Who can he turn to if he can't fulfill it later?

"I'm sorry, I can't give you any substantial guarantee!

However, I can give you a document, which is a list of the founders of all projects that [Grand Wind Capital] has invested in in the past two years.

You can contact them one by one and ask about our past reputation.

Have you ever deceived them before and after investing, or have you ever failed to deliver on your promises?

If you ask one question, I lose.

I can personally make the decision and invest in you based on the original valuation of US$5000 million. "

Jennifer was stunned and replied unceremoniously that she also had a temper.

I am no longer who I was before, and [Dale Capital] is not the unknown small investment institution in the past.

Now, as the "millionaire girl" in the American venture capital circle, is her reputation in vain?

This was achieved by relying on [Dafeng Capital] to invest in one project after another. This is where her confidence lies.

So what about the eldest son of the Woodman family? You can question it. Do you deserve it?

(End of this chapter)