Perfection of Rebirth

Chapter 455 Refinancing of Xiaonei Network

According to the original agreement with Facebook, the Asian market is owned by Xiaonei, the European and American markets are owned by Facebook, and other regions have their own unique skills.In addition to the Tianchao headquarters, Xiaonei has established branches in island countries, Hong Kong, India, and Russia.However, through the operation of offshore companies, from the perspective of capital relations, Xiaonei actually only has two companies, one is Tianchao Company and the other is Island Country Company.The other Hong Kong and Hong Kong branches are all subsidiaries of the Xiaonei Island Company in terms of shareholder composition.

Therefore, when negotiating with venture capital institutions such as Softbank and Sequoia, Jiang Hui told Tang Wenwen to start financing negotiations between Tianchao Company and Daoguo Company at the same time.

At present, there are more than 6000 million registered users on Xiaonei.Among them, China has more than 200 million, which is the largest market in a single region; island countries have more than 300 million, South Korea has more than 200 million, India has more than 500 million, Russia has 600 million, and other regions have More than 6000 million, a total of more than [-] million users.

From the perspective of the number of users, Tianchao Company is actually not as good as Daoguo Company, which is fully reflected in the valuation.

Since Jiang Hui requested that this round of financing be bundled with Jiang Hui's personal share transfer, the discussion was rather lengthy, and many venture capital institutions did not approve of this approach.After all, they invested in Xiaonei.com because they are optimistic about the development of Xiaonei.com under the leadership of Jiang Hui. If Jiang Hui, as the founder and major shareholder, sells his personal shares at the same time as this round of financing, it will make people feel that It's not that Xiaonei's valuation has reached its peak.

However, after several negotiations, Jiang Hui insisted on transferring [-]% of Xiaonei's shares and [-]% of the financing held by him at the same time.After repeated consideration by various investment institutions, Softbank first backed down.

"We are willing to purchase 5.00% of the shares of Xiaoneiwang Tianchao Company from Director Jiang and account for half of the financing amount of Xiaoneiwang Tianchao Company; in addition, we hope that on this basis, Xiaoneiwang Daoguo Company will take out an additional 5.00% of the shares for financing. For financing, we are willing to increase the amount in the same proportion.”

Softbank and other companies have reached a consensus on the valuation of Xiaonei half a month ago.Among them, Xiaonei Tianchao Company is financing at a valuation of 220 billion, and Daoguo is financing at a valuation of 310 billion.

"I personally agree with Softbank's opinion in principle, but this plan still needs final confirmation from our chairman."

Softbank's request was considered a small request after they made a major concession. Anyway, Tang Wenwen knew that almost all the shares of Xiaonei Daoguo Company were in Jiang Hui's own hands, unlike Tianchao Company, where Jiang Hui only had more than [-]%.As long as everyone agrees with the valuation proposed by Jiang Hui, Jiang Hui should also agree to sell five points more shares.

Just as Tang Wenwen thought, Jiang Hui was thinking of raising funds to make a quick buck in the financial market, so he didn't disregard Softbank's request for an additional five points of payment from the island country company. Anyway, it was a purchase, not a gift. .

When Jiang Hui established overseas companies such as Xiaonei.com, Meituan.com, YY Live, and Tudou.com, he took into account the different policy requirements of different countries and regions, and adopted the method that foreign companies and Tianchao Company shares are not affiliated to each other. correspond.Of course, there is also the reason why Jiang Hui knows that these companies have a bright future, so he doesn't want to blindly give away the shares to other shareholders for almost nothing.So basically the shares of various overseas companies passed through layers of offshore companies, and finally belonged to Jiang Hui.

Considering the current financing characteristics of Tianchao Internet, Xiaonei also held a signing ceremony for this round of financing.According to the valuation of this financing, Xiaonei Tianchao Company alone has been able to enter the top five of Tianchao. No.1 is Alibaba or Du Niang. Since Alibaba has not yet been listed, the specific valuation is difficult to evaluate. No.3 should be a penguin. No.4 is Shengda Network.Then there is the intranet.

Although those portal websites were listed early, their market value is generally less than [-] billion yuan.In the future China Internet market, the status of portal websites will become lower and lower.

Through the financing of Xiaonei, Jiang Hui personally received 22 billion RMB and 6.2 million US dollars.And the two companies of Xiaonei Network have also received sufficient development funds.

In this financing, Softbank received the most shares.Softbank already held 5% of the shares during the B-round financing of Xiaonei. Sequoia, during the A round, Sequoia obtained 15% of the shares of Xiaonei Tianchao. After Sequoia and IDG shared another 10% of the shares, they became the third largest shareholder with about 14% of the shares.

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Du Niang news report: Today, Xiaonei Tianchao Company completed the C round of financing, raising 220 billion yuan at a valuation of 22 billion yuan.It is reported that this round of financing will be led by SoftBank China, followed by Sequoia and IDG.Softbank and Sequoia once participated in the A and B rounds of Xiaonei.com’s investment. Based on the current valuation, their previous investments have already achieved rich returns.The reporter of this site interviewed the person in charge of Softbank Tianchao, he said...

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Penguin News Report: Just after the beginning of 2006, China Internet started to surge again.As the leader of the global SNS website, Xiaonei completed the last round of financing before going public.The founder of Xiaonei once said that the listing of Xiaonei will be promoted within this year.It is reported that the financing of Xiaonei.com is to prepare for the sprint before going public...

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Yahu Island: Yesterday, Softbank, a well-known enterprise in my country, once again invested heavily in the C round of financing of Xiaonei.com.Xiaonei is the SNS website with the highest market share in my country and other Asian countries, with more than 1 million users worldwide.Although each investor has not announced the specific shareholding ratio, but...

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Imperial University of Technology Flying Forum.

"I still remember that when Xiaonei was first established, there was an activity to register and buy down jackets at a discount in front of the second canteen. I didn't expect that just two years ago, Xiaonei had already become a giant with a valuation of more than 200 billion."

"Yes, there was a classmate in our class who was also the first batch of employees of Xiaonei. At that time, Jiang Hui allocated shares to these veterans."

"This is life."

"Yeah, one share is worth 2.2 million yuan, so scary. Doesn't it mean that our school is going to produce several billionaires?".

"You only know now? However, Xiaonei.com has undergone multiple capital injections and financings. Even if it had a small share at the beginning, it should be only a few tenths now."

"Even if it is 2000, it is [-] million in [-]."

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(End of this chapter)