Reborn: Billionaire in College

Chapter 160 Financing is finally finalized
In the morning, when Chen Pingjiang just arrived at the company, he saw a figure swaying back and forth in the office.

When Chen Pingjiang was still wondering who was in his office, Wan Yuqian came over and said with a smile: "In order to avoid being rejected by you again, I have arranged an assistant for you. I will personally check it and your objection will be invalid. I have transferred Song Xinyue back. If she doesn't come back, I will be too busy."

Chen Pingjiang bared his teeth in silence: "Senior sister, you just like to act first and report later, and you also like to tell tales."

Wan Yuqian's eyebrows immediately raised: "What nonsense are you talking about? Who did I tell on?"

Chen Pingjiang smiled and curled his lips: "Do you really think I don't know who Dean Kuang Minghong is to you?"

"?" Wan Yuqian felt that she had hidden it well. "Did my uncle tell you?"

"No ah!"

"Who told you that?"

"you."

Chen Pingjiang left a word and walked away leisurely.

Wan Yuqian, who just realized that she was being framed, grimaced in anger.

Chen Pingjiang was in a good mood after exchanging a few words with Wan Yuqian.

Right now in the company, only Wan Yuqian can fight him for two rounds.

It's really lonely at the top, Chen Pingjiang thought pretentiously.

As soon as Chen Pingjiang walked into the office, he saw the new male assistant wiping his desk. When he heard footsteps and looked up at Chen Pingjiang, he immediately stood up and greeted him respectfully: "Hello, Mr. Chen, I am the new assistant Guan Yifeng."

Although Wan Yuqian likes to argue, she is still very reliable in doing things.

The age of Guan Yifeng was chosen very cleverly. He is neither in his early thirties, which would easily create a generation gap with Chen Pingjiang, nor is he a fresh graduate with no work experience.

Guan Yifeng is a gentle man wearing glasses and has an average appearance, giving people a somewhat honest feeling.

"Hello." Chen Pingjiang looked at me and asked, "I hear your accent doesn't sound like a local?"

"Yes, Mr. Chen, my hometown is Haidong." Guan Yifeng answered honestly.

"What kind of job did you have before?"

"organ."

"Oh, is this true? Our General Wan is really amazing." Chen Pingjiang was a little surprised: "They say that the end of the universe for you Haidong people is the establishment. How could you give up such a good job and come to a private enterprise?"

"My girlfriend in college is from Dongjiang, and we've been in a long-distance relationship for several years. Even with the consent of my original employer, no company in Dongjiang is willing to accept me through normal channels. If this continues, we will break up. I had no choice but to resign and come to Dongjiang." When saying this, Guan Yifeng's face had a complicated expression, with both regret for his previous position and joy for running for love.

Chen Pingjiang was at a loss whether to laugh or cry. This guy was actually a love-brained guy.

When Guan Yifeng came, he was a little nervous, thinking that this big boss, whom he had never met before, was so powerful that he would be arrogant and difficult to serve.
After meeting, I found that it was not what I had imagined at all.

Contrary to the stereotype of some big bosses, getting along with Chen Pingjiang was easy and casual, which did not put him under much pressure.

In order to compete for this job, Guan Yifeng tried his best.

He thought that it would not be difficult to find a job with his experience in government, but reality taught him a hard lesson. As a liberal arts graduate, it was difficult for him to find a job that matched his major, and most of them were sales positions. He finally found an Internet company that was recruiting secretaries.

He really went through a lot of hardships before finally standing here.

After checking some information before coming here, Guan Yifeng felt that Renren should have good prospects.

After I came here, I found that this company was actually in the financing stage, and I immediately became more confident in Renren.

"What are your plans for the morning?"

After getting used to having Song Xinyue as his assistant during this period, Chen Pingjiang realized how useful an assistant is.

"At 10 a.m., Mr. Shen Nanpeng from Sequoia Capital will come over. The meeting place is at the hotel where he is staying. We can set off in 15 minutes."

Chen Pingjiang nodded.

The due diligence team withdrew the day before yesterday, and during this period he finally chose Sequoia Capital.

To put it bluntly, almost any institution can afford the money for the A round of financing.

The only difference is the resources they hold.

As the world's largest VC and also the top 1 in China, it is no exaggeration to say that Sequoia Capital is a towering tree in the industry.

Later, JD.com, Qihoo 360, Vipshop, BGI, Toutiao, Meituan, Didi Chuxing, DJI, ZTO Express, Mobike and others all received investment from Sequoia.

After going downstairs, Guan Yifeng drove and Chen Pingjiang appeared on time in the VIP room of the hotel where Shen Nanpeng was staying.

"Oh, Mr. Chen, I'm sorry that I couldn't come in person last time. I hope you don't mind."

"Mr. Shen is being polite."

Shen Nanpeng, who majored in mathematics, wears the iconic glasses of science and engineering men, and looks gentle and refined.

The two sides exchanged a few pleasantries and soon entered into the negotiation phase.

"After reviewing the due diligence report, we are very satisfied with your company's business performance in all aspects. The only possible shortcoming is that the management team may..."

Shen Nanpeng didn't finish his words and gave Chen Pingjiang some face.

Chen Pingjiang laughed: "Mr. Shen is right. We know our own business. After all, I started my business as a freshman, and I had relatively few resources at that time. Our management team is indeed much less experienced and educated, but I recognize their work ability."

Shen Nanpeng also nodded: "Of course, if they were not capable, I believe there would be no Renren today. We valued Renren at US$1.5 million, with a first-round investment of US$3000 million, accounting for 20% of the shares. At the same time, we also noticed that Renren has reserved a 10% option pool, which is very good."

Chen Pingjiang frowned: "Isn't your price too high? I won't hide it from Mr. Shen. Tencent's Martin Lau offered me $2000 million, but I was only willing to give him 8% of the shares."

Shen Nanpeng drank a sip of tea calmly, then smiled and said, "Isn't the price negotiated? Mr. Chen's desired price can also be negotiated."

"Excuse me, although it may seem that Renren is raising funds in Series A, we actually have the characteristics of Series C. The team and product model have been successfully implemented, the product has reached scale, and even the business model has been verified. After all, the example of Facebook is there. You have also seen the financial statements. Just for the parking space, the advertising revenue we have negotiated with major car manufacturers is more than 3000 million US dollars. There is no doubt about our profitability. At worst, I can wait a few more months, wait for the payment to arrive, and then plan to develop after getting the money."

"But you are only willing to pay 3000 million US dollars for a 20% stake. Haha, Masayoshi Son is much more generous than you." Shen Nanpeng nodded and agreed with Chen Pingjiang's words: "We are very optimistic about Renren, but you and Xiaonei will definitely have a battle. My internal information is that Tencent has already launched a QQ version of the parking space grabbing project. This price is also given by our team after comprehensive consideration and weighing, because the risk is very high. Although Facebook is a good example, it is in the United States after all. Oranges grown in the south of the Huai River are oranges, while oranges grown in the north of the Huai River are tangerines. Success in the United States does not mean success in China. Moreover, Facebook is the leader in the United States, but Renren is not."

Chen Pingjiang smiled and said, "How does Mr. Shen know that I won't act capriciously and wait for the advertising fee to arrive?"

The two seemed to be on good terms with each other on the surface, but in fact they were constantly arguing with each other verbally.

"Mr. Chen definitely won't. First, Renren also needs to prove its value to the market. If it doesn't raise funds today, it will have to raise funds in the future. Only by proving its value will more people be willing to participate in this game. Second, you can't wait. As I just said, Tencent is already launching the QQ version of the parking space grabber. If you wait for a few months, Tencent will definitely catch up, and you won't get this valuation by then. In addition, Xiaonei will not admit defeat, and their operations are the same as Tencent's. It is always better to get this money early to use for the development of Renren than to wait for a few months and be caught up by competitors, eliminating Renren's advantages."

After all, the old ones are the wisest. Shen Nanpeng saw things very clearly and he calculated that Chen Pingjiang urgently needed the money for development.

"That may disappoint Mr. Shen. You don't think we will rely on this game to make a living, do you? Tencent and Xiaonei are making preparations. Don't we have any plans for the next step? I promise you, they will never catch up."

The confidence and sharpness of Chen Pingjiang even surprised the knowledgeable Shen Nanpeng.

He continued, "Everyone knows that social networking is a major trend in Web 2.0. Otherwise, how could Daqi.com get $3000 million in venture capital last year? Is Renren.com's business potential weaker than Daqi.com? Besides, I heard that Microsoft is already in contact with Facebook, and Zuckerberg's asking price is $150 billion."

This really shocked Shen Nanpeng.

How does Chen Pingjiang know the niche information that only the VC/PE circles know?

The two countries are so far apart, and Chen Pingjiang is so young, so it should be possible for them to get through.

Of course Chen Pingjiang knew.

Not only did he know, he also clearly predicted that in October this year, Microsoft would invest US$10 million in Facebook, accounting for 2.4% of the shares.

Shen Nanpeng neither nodded nor shook his head, but kept repeating: "Although it is the same type of website, you are in two different countries after all."

Chen Pingjiang changed to a comfortable sitting position and said with full energy: "No matter what, Renren was the first to launch the first social game in China and even the world. In a sense, Renren has opened up a new era. I hope Mr. Shen will affirm its value no matter what. This is my last offer. After the offer, if Mr. Shen accepts it, we will sign the contract. If not, I will find someone else. You still have 80 competitors behind you."

This is Chen Pingjiang's confidence, he has too many options.

"Before I make the offer, I need to remind Mr. Chen that in the financing history of Chinese Internet companies, no company has ever received such a large amount of financing in the first round."

"Isn't that the point? It seems that Renren.com is raising funds in the A round, but in fact, we have already met the characteristics of the C round. You can't look at Renren.com with traditional eyes." Chen Pingjiang said, and then uttered a few words firmly: "The price is 2.5 million US dollars. Mr. Shen agreed. We can sign a confidentiality agreement. I will give you some plans for the next development of Renren.com."

Shen Nanpeng is really crazy. I have never seen such a strong entrepreneur.

The entrepreneurs I had met in the past were all very friendly or even pleading, but Chen Pingjiang was different.

But he also had to admit that Chen Pingjiang had strong capital!

Now Renren is the darling of capital and is being pursued.

What surprised Shen Nanpeng even more was that the information showed that Chen Pingjiang was only a freshman. How could he be so talented? He had so many tricks up his sleeve when it came to negotiations and his goals were so firm that he could not be suppressed at all.

Considering that he built such a huge industry from scratch at such a young age, Shen Nanpeng really wanted to exclaim "monster" on the spot.

Fortunately, Sequoia Capital had already decided to raise its offer at the last partner meeting. Therefore, even if the valuation of 2.5 million exceeded their expectations, it was not unacceptable.

Shen Nanpeng was mainly curious about where Chen Pingjiang got his confidence from, and he couldn't wait to know Renren's subsequent plans.

Finally, under Chen Pingjiang's scorching gaze, Shen Nanpeng nodded and said to his assistant: "Print out a confidentiality agreement."

After that, he said to Chen Pingjiang: "Just as Mr. Chen said, with a valuation of 2.5 million, Sequoia Capital will invest 5000 million US dollars and hold 20% of the shares. This is our sincerity."

Become!

Guan Yifeng, who was sitting not far away, didn't expect to be involved in such a major project on his first day at work.

Just now, when the two big bosses were bargaining, his palms were sweaty from nervousness.

This made him secretly admire the calmness and composure that emanated from his boss, who was several years younger than him.

After receiving the confidentiality agreement handed over by Shen Nanpeng.

Chen Pingjiang did another incredible thing and tore it up in front of Shen Nanpeng.

"As a gentleman, I trust Mr. Shen."

The veins on Shen Nanpeng's forehead twitched, and he really wanted to ask, are you speaking human language?
It was you who asked me to sign the confidentiality agreement, and it was you who tore it up. So you have played both the good guy and the bad guy, and I am just a tool?
Chen Pingjiang finally started to talk. "I have prepared two big moves for my competitors. First, our technical department is developing a new game. I am confident that the traffic of this new game will be five to ten times that of the game that grabs parking spaces. Second, we are contacting many celebrities, Internet celebrities, variety shows, government agencies, and news media to join Renren.com, and we are also exploring our own Internet celebrities in different vertical fields. The popular 'Stockholder Song' is the best example."

Shen Nanpeng was not surprised that Chen Pingjiang was developing a new social game. It was foreseeable that Renren would do so after tasting the sweetness. However, his business intuition made him very interested in the second point Chen Pingjiang mentioned: "I have reservations about whether Renren's second game will be able to achieve five or ten times the traffic of Parking Space. But inviting celebrities and Internet celebrities to join Renren, including giving birth to Internet celebrities on the platform, is indeed a good way. If it succeeds, Renren will have a first-mover advantage and an indestructible moat."

Shen Nanpeng believes that based on this second point alone, Renren's valuation is worth US$2.5 million.

Celebrities and internet celebrities bring in users, and high-quality internet celebrities on the platform will generate more exciting content and will also feed back to the website and bring in more traffic.

In particular, the campus network is still in the university circle and its response is obviously lagging behind.

Moreover, QQ Space cannot even be considered a pure SNS social networking site at present.

While Shen Nanpeng admired Chen Pingjiang's generosity, he was also shocked by his ingenious strategic planning.

Is this hard to think about?
Actually, it’s not true. At least Sina Blog has invited many Internet celebrities and stars.

But the interesting thing is that Chen Pingjiang mentioned government agencies and news media.

This fundamentally changed the nature of Renren.

If Renren was a pure social platform before, then after these institutions move in, Renren will become a social + media platform.

After the investment was finalized, both parties seemed relaxed and after lunch, they parted ways.

Before leaving, Shen Nanpeng mentioned: "Mr. Chen, I am actually very interested in your Renren Waimai. If you need financing in the future, please let me know."

The contract has been signed. Shen Nanpeng promised that the first phase of funds will be 2000 million US dollars, and the remaining 3000 million US dollars will be received within four months at the rate of 1000 million per month.

The moment Chen Pingjiang signed, it also meant that with his 70% stake in Renren alone, his net worth had reached 1.75 million US dollars, or 13 billion RMB.

　It's early morning for the third chapter. Everyone, get up tomorrow to read it. Please give me a monthly ticket.

　　
　
(End of this chapter)