Winning the new financial era

Chapter 312 Industry Integrator Gao Ling

"Um...Mr. Liu, Dogford is my father's company, and he is not even willing to open up financing, so he probably doesn't want to sell the company.

And he is getting old, what can he do after selling the company?
There is a factory here, and he feels that his life is a little bit more exciting.Without the factory, playing chess and fishing in the park every day, and entering the state of old age in advance, he will definitely not be able to adapt.

As for Petnet, it is indeed a company I founded with my own hands.The original intention of this company was to help my father sell dog food.

But later, with the entry of capital, Patenet has extended from a single pet e-commerce business to a chain of pet hospitals.

Sincerely love pets If you want to open up the domestic pet food online sales market, peter.com can provide some help. "

Although Zhang Yida didn't say no, Liu Yonghao understood his attitude.

So Liu Yonghao didn't force it, and said with a smile: "The online sales of sincerely loving pets are up to you, Pete.com. Don't you work hard?"

"It's absolutely not!"

Zhang Yida said firmly: "We will treat all suppliers and customers equally."

After Liu Yonghao heard it, he smiled and didn't take it seriously.People are divided into close and distant.He didn't believe that Zhang Yida would abandon his father's Dogford and promote his "sincere pet".

At the same time, he will not hand over all the online sales authorization to Patenet, Taobao, Tmall, Goudong and other platforms, they will also operate them themselves.

As businessmen, they will consider issues from the perspective of maximizing profits.

……

Beijing, inside a certain golf club.

"Mr. Zhang, if I remember correctly, this is the first time you have asked me out."

Zhang Sanshi swung the golf ball gracefully, and the golf ball flew to the green area in the distance.

"date you?"

Zhang Yida was a little dazed. He remembered that in his previous life, Zhang Sanshi and a certain actor surnamed Peng came out as a closet, but there was a lot of noise.

Although someone later explained it this way: Zhang Sanshi and his friends said that the actor surnamed Peng was going to be his LP, but he was misunderstood as a "wife", but he was actually a fund investor.

"I was too busy before, but now that many companies have entered the middle and late stages, I can take a break from my busy schedule."

Zhang Sanshi nodded with a smile, "There are so many companies, only you can play around.

This person is dead compared to others, and he must be thrown away if he compares goods with goods!
From the outside, Dogford, the slowest-growing company under your company, is quite a successful company.

In particular, the founder is only 21 years old.

If I had a company like Dogford when I was 21 years old, I don't know how successful it would be? "

"It's not such an exaggeration. For a company of Dogford's size, the founders are in their 20s. There are countless examples across the country."

Zhang Yida felt that if he had only one Dogford company, he would at best be regarded as an excellent company in society, and he would have nothing to brag about.

"In his early 20s, who founded a company with tens of millions of profits, can you tell me who is it?" Zhang Sanshi stopped, raised his head and beckoned Zhang Yida to tell him.

"Just talk about it, there are so many of them."

Zhang Yida thought for a while and said, "Shentong Nie Tengfei started from scratch at the age of 20 and passed away at the age of 25. In the end, hundreds of billions of assets belonged to his brother-in-law. Even his 22-year-old wife married the driver...

Focus Media Jiang Nanchun founded an advertising company at the age of 20. In 1993, the company's revenue was 400 million, and Jiang Nanchun's income was 150 million...

There are also Tianqiao Sum and Shi Daxianren, both of whom became famous in their 20s.

There are more foreign countries, so I won't list them one by one. "

Zhang Sanshi shook his head and laughed, "Of the 4 people you listed, the first one is really good, but he left too early, so I won't comment on it.

The latter three all collapsed midway through their careers.Moreover, when Tianqiao and Shi Daxianren succeeded, they were basically 28 or [-] years old.

Before the age of 30, it is too difficult to make a successful career.Even if you have good luck, you still lack the ability and mentality to protect your career and wealth. "

"So, I'm very interested in you."

Zhang Sanshi's words made Zhang Yida's scalp tingle, why don't we talk about it?
"I found that the wealth you have cashed out many times has not been used to buy material things, but has been reinvested.

At this point, you already have the ability and mentality to protect your wealth.

Of course, the protection I am referring to here is relative.It's another matter if the investment fails. "

Zhang Yida smiled, Zhang Sanshi's comments are still very good.

It seems that the biggest material cost of my life is to buy a 3 million villa, a living horse worth tens of millions, and a dead horse worth millions.

It’s not that you can’t spend money if you start a business successfully, you can spend money, but you need to maintain the entrepreneurial mentality.

When the mentality is broken, the mind is wandering, and people are slack, the company is not far from going downhill.

Of course, the company has established a very good succession mechanism, and it is also possible that the founder can still develop in an orderly manner.

But generally, those who start a business successfully in their 20s have only been established for a few years, so there is no succession mechanism.

The founder is the soul of the company, and the founders are lax, and it is normal for the company to be "infected".

Zhang Sanshi swung lightly, the golf ball went into the hole and made a birdie.

It can be seen that he often plays golf and his skills are superb.

"Beautiful!" Zhang Yida applauded from the side.

"Yida, let's talk about today's business!"

Zhang Sanshi didn't think that Zhang Yida asked him to play golf today just for entertainment, obviously he had something to discuss with him.

"Talk about the pet market!"

Zhang Sanshi already knew that Zhang Yida must have other plans, and looking at it now, it was as expected.

"Okay!" Zhang Sanshi agreed very readily, and he also wanted to talk about this matter with Zhang Yida.

"Peternet currently operates more than 20 pet hospitals, and I want Peternet to conduct a round of financing next.

All the financing funds will be invested in the establishment, acquisition and integration of pet hospitals. "

After speaking, Zhang Yida looked at Zhang Sanshi, wanting to hear his point of view.

"That's a good thing! I'm very supportive! Patenet is long overdue to hit its stride."

Zhang Sanshi said with a smile: "If there is a shortage of funds, Gaoling Capital can lead or follow the investment."

Zhang Yida waved his hand, "There is no shortage of funds and investors. Rui Xiang intends to launch a pet PE M&A fund with Patenet."

When Zhang Sanshi heard this, he was very surprised, and asked Zhang Yida: "Isn't Ruixiang only focusing on investment in the Internet and financial industries?
Why is the pet field mixed up?It's kind of..."

Zhang Sanshi realized that he had lost his composure, and said with a smile: "I mean it's a little surprising."

"Gao Ling bought a cat litter and pet food company in Germany some time ago. It's called Gimborn. It's translated into Chinese as Junbao, right?"

Zhang Sanshi became a little wary, and said with a smile, "Yida, you know our investment trends very well!"

"Gaoling Capital wants to integrate the pet economy? Cultivate a super unicorn?"

Zhang Sanshi didn't answer, Zhang Yida's words hit his heart.

Different from ordinary VC funds, Gao Ling works in PE and likes to invest in mature companies.

As for Gao Ling, it is difficult to find a benchmark fund in the world.

Why do you say this way?
Ordinary VCs and PEs like financial investment, while Gao Ling likes heavy positions.

When Goudong was valued at US$10 billion, Da Qiangzi only needed US$7500 million in financing.

Zhang Sanshi insisted on giving 3 million US dollars to Da Qiangzi, and either refused to invest, or accepted his large amount of financing.

In the end, Da Qiangzi compromised, and the US$3 million invested by Gaoling Capital became US$39 billion in four years.

Before investing in Goudong, Zhang Sanshi was basically not well-known in the investment circle and was relatively low-key, because he mainly invested in the secondary market, that is, listed companies.

Zhang Sanshi often said that his belief in "value investing" was influenced by his teacher at Yale University, Svensson.

Swenson is also a great man, as famous as Buffett, who specializes in managing the endowment funds received by Yale University.

Most of the operating funds of the top universities in the United States come from donations from rich people, and the money cannot be deposited in the bank, which is too bad.

Swenson is the chief investment officer responsible for managing the school's endowment funds and making them grow in value.

He is very optimistic about his Chinese disciple Zhang Sanshi, so he still invested 2000 million US dollars in Zhang Sanshi when others were not optimistic.

In 2005, Zhang Sanshi returned to China and founded Gaoling Capital, and used most of the 2000 million US dollars to buy Penguin stocks that had just been listed in Hong Kong.

Therefore, Zhang Sanshi's investment style is like this, he likes heavy positions very much.

Many people think that his investment style is too dangerous and completely violates the principle of "investment diversification".

But from another investment point of view, this is also the maximization of benefits.

But Zhang Sanshi has a vision, and the companies with heavy positions have repeatedly succeeded, so he became a PE boss, and others went to the rooftops.

"Yes, we want to integrate the industry of the pet market."

Zhang Sanshi admitted it frankly, then looked at Zhang Yida, and asked, "Ruixiang also wants to support petnet to integrate the pet industry?"

Zhang Yida shook his head and said with a smile: "Compared to money, we can't compare to Gao Ling. I mean, Ruixiang, Petnet, and Gao Ling can carry out more in-depth cooperation.

Petnet will be the industry integrator in front of the screen, and Ruixiang and Gao Ling will be the fund providers behind it. "

"Why does it have to be Patenet? The Gaoling family can also do these things."

Zhang Yida laughed and said, "Because peace benefits both, Rui Xiang and Pete.com are also doing similar things to Gao Ling.

The joint efforts of our parties have not only avoided unnecessary losses, but also accelerated the speed of industrial integration. "

Zhang Sanshi said with a smile: "You have a very good idea. You resigned from Rui Xiang and joined Petnet with all your heart. I can agree to your proposal."

"I'm afraid it's a bit difficult. After all, Gao Ling is a financial institution, a financial institution that aims to make money.

My proposal can make this money faster and more stable. "

"Yida, are you threatening me?" Zhang Sanshi looked at Zhang Yida with piercing eyes.

Zhang Yida said with a smile: "I dare not threaten a PE giant in charge of 300 billion US dollars.

Gao Ling wants to integrate the pet market, and we don't want to give up.Although we don't have so much money, we still have one or two advantages in entrepreneurship. "

"Yes, but Gao Ling wants 51% of the shares!"

"Up to 49%."

Zhang Sanshi shook his head, "This is against our investment philosophy. What we want to do is an industry integrator, not a financial investor."

"Petnet can help Gao Ling earn sufficient returns. In fact, our development is not slow."

Zhang Sanshi smiled, "That's because there are no powerful snipers in this market, and you haven't seen the power brought by capital."

(End of this chapter)