Winning the new financial era

Chapter 315
"China's first pet unicorn was discovered by Penguin himself. It is another brilliant addition to the successful investment case of Penguin Industry Win-Win Fund.

Isn't this delicious? "

Ren Yu laughed, "I don't know if it smells good or not! If you really killed me like this, I'm afraid I'll have to take the blame and resign when I go back."

"It's really not a slaughter, Patenet will definitely become a super unicorn with tens of billions of dollars in the future.

You have also read the business fundamentals. Do you think the business growth curve is good or not?

To describe it in one sentence, that is: all the way up, straight up to the sky!

I dare to conclude that apart from Huimin Bicycle and Pinduoduo, the unicorn companies established in recent years have not grown so fast.

Moreover, we are now also in the upstream of the industrial chain, and we will invest heavily in the integration of the two segments of pet food and pet medical care.

In the future, Petnet...may be renamed as Pet Holdings, which will cover three subdivisions: pet e-commerce, medical care, and food.

The e-commerce business can sell pet food and make appointments for pet clinics; pet hospitals can sell pet food and help e-commerce websites to advertise offline.

The three major businesses can form an industrial closed loop and complement each other.

The pet market will grow into a 2000 billion-level consumer market in the next few years. Pet Holdings can only win 5% of the market, and it will also have a revenue of [-] billion-level a year.

The profit margin of this industry is very high, with a revenue of tens of billions, and a net profit of 30 billion is normal.

Multiply it by 30 times the price-earnings ratio, and a company with a market value of tens of billions of dollars was born. "

"Okay," Ren Yu waved his hand, "Yida, don't make fun of me. The pre-investment valuation of 10 billion US dollars is indeed a bit high, and I still agree with 7 million US dollars."

"If not, Ruixiang Industry Fund will lead the investment, and Penguin Industry Fund will follow.

Let's invest more, 2 million US dollars, and you can follow suit with 5000 million US dollars. "

Ren Yu smiled and said, "This has nothing to do with share. Also, Yida, you have done so many related transactions with Ruixiang Industry Fund.

It’s another investment in Douyin and another acquisition of Bilibili. Does the chaebol in Southeast Asia have any objections? "

"I have no objection!" Zhang Yida spread his hands and said innocently, "They think this is normal! They are all high-quality companies, so what's your opinion?
There are opinions, and the next fund will not take them to play. "

A faint smile flashed across Ren Yu's face. He didn't believe that those chaebols were so easy to talk to. Zhang Yida must be under tremendous pressure.

"Sign a performance commitment! Calculate the GMV of this year at the end of the year. If it does not reach 110 billion, recalculate the valuation based on the actual GMV."

Zhang Yida smiled and nodded, "That's no problem. Such a good plan, wouldn't it be better to come up with it earlier?"

Ren Yu was also speechless about Zhang Yida's behavior of being good-looking after getting a cheap price.He said: "This is you. If it is someone else, Penguin will never give such a good condition."

Zhang Yida pursed his lips and smiled, as a tacit consent.

When entrepreneurs and investors talk about financing, the founder is generally the weak side.

of course there are exceptions.

In the past 18 years, DJI held an unprecedented financing auction and called a large group of venture capitalists. To be eligible to invest in me, investors must subscribe for a certain percentage of D-shares like "interest-free bonds" to obtain B-class shares. Qualifications for stock investment.

The conditions are quite harsh, but there are still hundreds of VCs submitting deposit and bidding applications.

The specific results have not been announced, but it is said that at least 1.61 yuan of interest-free bonds was purchased to obtain a 1 yuan investment in Class B shares.

These interest-free loans can be converted into equity when DJI is listed, or they can wait for DJI to repay.

Anyway, getting a strong horse severely broke the prestige of investors.

The unsuccessful venture capitalists clamored to block DJI from the industry. This behavior insulted the entire venture capital circle and lacked the spirit of contract.

But this kind of venting is enough to listen to. Who in finance will have trouble with money?

DJI's strength is also based on its leading advantage in the global drone market.

Patenet obviously does not have this advantage, and it is not a black technology.

Penguin requested that Petnet not reach 110 billion GMV this year, and recalculate the valuation based on the actual completed GMV.It's a fairly fair condition.

This kind of fairness is also based on the fact that Zhang Yida is a serial successful entrepreneur.

If it had just started in 13, it would have been a harsh gambling agreement.

If it reaches 110 billion GMV, the VAM is completed; if it fails to reach 110 billion GMV, the valuation is reduced to 5 million US dollars, and the founder compensates investors for their shares.

Investors also depend on people to order, a founder who received venture capital investment for the first time, and a serial successful entrepreneur.

The two are different in the eyes of investors. The former is a bit risky, and the harsher conditions are also to protect their own interests.

The latter, old fritters, is not easy to fool around, and has also become famous, and there is no shortage of funds and resources.It is qualified to bargain.

"You want to invest 1 million US dollars?" Zhang Yida was a little surprised.

"What? Can't you?"

Ren Yu looked at Zhang Yida playfully, "How about we invest less, 5000 million?"

"1 million is 1 million. The Penguin family has a big business, and the investment is too little. If it is said, it will lose face."

Ren Yu nodded, "I think so too."

Zhang Yida didn't believe these nonsense, probably Penguin also noticed Gaoling Capital's activities in the pet market.

Ren Yu believed in Zhang Yida, from Ruixiang to Huimin Travel, to Pinduoduo, Zhang Yida never let him down.

He led three investments of Penguin Industrial Fund, each of which has reaped a very good return on paper.

……

"As expected of Zhang Yida, this action is very quick!"

Zhang Sanshi looked at the text message sent by his assistant, Pete.net was going to start the C round of financing, and Penguin was also invited to help.

"You reply to Pete.com and say that we agree and let them let Rong go."

The assistant asked, "Mr. Zhang, aren't we going to follow suit?"

"If you don't follow the shot, just let him go!"

Zhang Sanshi added, "Anyway, it will be ours sooner or later."

The assistant feels a little inexplicable, hasn't the boss been planning the pet market all the time?
Patenet is such a big fish, so let it go so lightly?
Confused, the assistant went to call Pete.com back.

……

"coming!it's coming!The first unicorn in China's pet market"

"Heavy! US$2.5 million in Series C financing, Patenet is promoted to unicorn

"The Entrepreneurship Track Ignored by the Public Turns out to Contain a Hundred Billion Market"

"Penguin series adds new members, Zhang Yida's 10th unicorn company"

……

With the completion of Series C financing of US$2.5 million, Petnet’s post-investment valuation rose to US$12.5 billion.

The outside world cast curious eyes!Press releases came out quickly.

No one thought that there would be such a good opportunity to start a business in the pet market.Most people think that to start a business, you have to do the hottest and most popular Internet finance, live broadcast, short video, and shared bicycles in the past two years...

As a result, a unicorn popped out of the pet market.

Prior to this, Petnet also received three rounds of financing including Pre-A, A, and B, but the amount was not particularly large.

In terms of the hot venture capital market in the past two years, it is not enough.

However, as soon as Patenet completed its C-round financing, which was not a small amount, it became one of the unicorns, and it immediately stood under the spotlight and was observed with a magnifying glass.

The outside world didn't understand the development trajectory of Patenet, and an article on Huxiu.com unveiled the mystery for them.

"From a financial tycoon to a tycoon in the pet industry, there is a "way" to make money Zhang Yida".

In April 2014, Lu Fenghai, who had repeatedly failed to start a business, was recommended by his former angel investor Xu Xiaoming to Zhang Yida, who was running Ruixiang...

Zhang Yida was born in a relatively affluent family in Rongcheng. His parents ran a pig feed factory, and later transformed into a dog food factory, and created a very foreign brand "Dogford"...

From setting up an animal protection organization to selling dog food live on "Six Horses of Zhaoling", Zhang Yida is so sophisticated that he hardly looks like a young man.

When Wang Keke of someone else’s family was still wearing an Apple Watch and drinking Evian mineral water, Zhaoling Liujun had already helped the owner make a lot of money every day.

Seeing this, you may know the difference between yourself and Zhang Yida.

锐向金科估值300亿美元、惠民出行60亿美元、Green12.5亿美元、拼哆哆42亿美元、抖视70亿美元，
The market value of Yimin Wangjin is US$60 billion, Ruimin Wealth Management is US$10 billion, Yimin Wealth is US$20 billion, and Yimindai is US$15 billion.

Coupled with Patenet, which is valued at US$12.5 billion, Zhang Yida ushered in his 10th unicorn.

Financial technology, shared travel, social e-commerce, short video, P2P, supply chain finance, wealth management, consumption installment, plus pet e-commerce.

Let's take stock of it. Zhang Yida has been involved in the Internet and finance, two major fields, and nine subdivisions.

The combined valuation or market value of the 10 unicorns is $602 billion!
Because these companies are VIE-structured, we don’t know Zhang Yida’s shareholding ratio in the other nine unicorn companies except Yimin Wangjin, which has already been listed.

Assuming that Zhang Yida’s shareholding ratio in the other 9 unicorns is as high as that of Yimin Wangjin, which holds 47.51% of the shares, then Zhang Yida’s worth will reach 286 billion US dollars!
Even if it does not reach 47.51%, only one-third holds 15.84% of the shares, and its worth will reach 95 billion US dollars.

And his worth in the Forbes 2015 list is 26 billion US dollars, ranking 75th in China.

I think the editor of Forbes should reflect on himself, serious negligence in work.

Zhang Yida is also a very caring young rich man who focuses on charity.

Every year, 500 million RMB will be donated to the animal protection organization established by it as operating funds for taking in stray cats and stray dogs.

We can often see caring people wearing vests and carrying "Dogford" brand dog food with a prominent logo on Weibo, DouTV and other social and video sites to feed stray cats and dogs.

It has to be said that besides being very good at starting a business and accumulating wealth, Zhang Yida is also very keen on promoting public welfare activities.

Zhang Yida also owns two other companies, which are not well-known in the industry.

One is the Huinong Loan Company, which grants farmers an annualized interest rate of 24%. It is said that the annual loan amount exceeds several billion yuan.

Another company, Dogford Network Technology, has the same name as the Dogfood brand dog food founded by his father.

Dogford Network Technology has two major business segments, one is online dog food stores opened on e-commerce platforms such as Taobao, and the other is Daya Media, which has recently become popular on the Internet.

Daya Media is an MCN organization that has signed a series of human and dog anchors including Zhaoling Liujun.

The recently popular dog live broadcast selling dog food on the Internet was produced by Daya Media.

I believe that many people are wondering whether Huinongdai and Dogford Network Technology will become Zhang Yida's No.11 and twelve unicorn companies.

In this regard, the author, like everyone else, is looking forward to it!

　Thank you book friend Yuan Xianzun?reward!
　　
　
(End of this chapter)