Winning the new financial era

Chapter 346 Delicate Girl
After getting the authorization from Zhang Yida, Lu Qi started the integration operation, and first met with the shareholders of Pinduoduo and Doushi.

There are not many shareholders in Pinduoduo. Apart from Zhang Yida, there are only a few shareholders such as angel investor Sun Yutong, Heishan Capital, Zhenke Fund, and Penguin.

Apart from Zhang Yida, the only shareholders of Douvision are Ruixiang Industrial Fund, Huayi Capital, Heishan Capital, and Zhenke Fund.

The two investment institutions represented by Shen Beipeng and Xu Xiaoming have shares in both companies, so their palms and backs are full of meat, and basically they don't have much opinion.

Ren Yu is different. The Penguin Industry Win-Win Fund he represents holds more than 20% of the shares in Pinduoduo.

Raising the valuation of Pinduoduo and suppressing the valuation of Doushi has become a must to protect the rights and interests of Penguin.

Ren Yu said with a smile: "Compared to 7 months ago, Pinduoduo's various data and indicators have improved dramatically. It is impossible to calculate based on the valuation of 2 billion US dollars in February?"

Lu Qi nodded, "We took this into consideration. At that time, Pinduoduo's pre-investment valuation was 33 billion US dollars. The valuation basis was based on the 10-month GMV of 130 billion and the VAM agreement."

Turning to look at Ren Yu, "The VAM agreement requires Pinduoduo to complete the annual GMV goal of 2017 billion in the next year, that is, by February 2."

"That's right, that's the deal."

Ren Yu said: "In fact, without signing such an agreement, we would not be able to value an e-commerce company that has only been established for one year at 33 billion US dollars.

At that time, when I signed this agreement, I was also under a lot of pressure.Including the outside world, some people laughed at our penguin as a winner. "

Speaking of this, Ren Yu paused and smiled, "But now these people have shut up, and Pinduoduo responded to them with practical actions.

From February to now, in 2 months, GMV in a single month has doubled, from 7 billion to 30 billion, and the cumulative GMV in 60 months has reached 7 billion.

I think we can almost throw in the towel on the VAM agreement. "

"Mr. Ren, what do you mean... to submit shares for delivery and give incentives to the management team?" Lu Qi asked.

Ren Yu said with a smile: "The goal of 540 billion, I don't think it will be completed in 5 months, it may be completed in 3 months.

Equity incentives can be delivered in advance, but the valuation of Pinduoduo must be recalculated. "

Lu Qi asked calmly: "Mr. Ren thinks how much Pinduoduo should be valued at present?"

"Pinduoduo's GMV has reached 60 billion in a single month. According to its growth rate, we infer that GMV should reach more than 1000 billion yuan in the next year.

The valuation should be 600 billion yuan, which is equivalent to 91 billion U.S. dollars. "

Lan Lan coughed and said, "Tikvision currently has 1 million daily active users in China, and 5000 million daily active users in North America and Europe combined.

According to the valuation of a user of 100 US dollars, the valuation should reach 150 billion US dollars. "

Ruixiang Industrial Investment Fund is a shareholder of DouTV. Seeing Ren Yu driving up Pinduoduo's valuation, Lan Lan naturally wants to speak for Douvision.

This has nothing to do with anything else, it's just a different position!
Shen Beipeng and Xu Xiaoming did not speak. They both held only 1.43% of the shares in Doushi, while their shares in Pinduoduo were 4.71% and 3.14% respectively.

From the perspective of profit maximization, we should still favor Pinduoduo, which holds more shares.

Before the two of them could speak, Ren Yu said again: "The Doushi bubble is too big, there are only users but no revenue and commercial liquidity.

What about 1.5 million daily active users?The number of users alone cannot support a valuation of US$150 billion.

150 billion U.S. dollars, 1000 billion in RMB.To reach this level, the company's annual revenue must be at least tens of billions, and its net profit must be two or three billion. "

Lei Dongming opened his mouth, and he said: "After you have a deep understanding of Douvision and Musical.ly, you will find that this is a very addictive software.

There are 1.5 million daily active users worldwide, and the average usage time of users is still very high. This is a gold mine that has not yet begun to be mined.

Once commercialization is started, advertising, live broadcasting, e-commerce and other businesses contribute tens of billions of revenue, and there is no pressure at all. "

Ren Yu smiled and shook his head, "Penguin also had hundreds of millions of users back then, but it had no revenue, so it almost couldn't hold on.

Douvision made a lot of hype, but it didn't prove itself. 150 billion US dollars is not a small number, in fact 70 billion US dollars I think is overestimated.

Kuaishou also raised a round of financing half a year ago. How much is the valuation? $20 billion.Moreover, Kuaishou was established several years earlier than Douvision, and there is also a live broadcast business that contributes revenue. "

"Douvision will start commercialization in the near future, and will launch a "short video + live broadcast" software. After merging with Pinduoduo, it will also dabble in the live broadcast e-commerce business.

In the past, commercialization was not started because the foundation has not been completely laid.

But now, domestic daily active users have exceeded [-] million, and the fruit has slowly matured and is ready to be picked. "

After Lu Qi finished talking about Doushi, he started to talk about Pinduoduo again, he said: "Pinduoduo is the best in the field of social e-commerce, and its results are indeed very good.

But sooner or later you will hit the ceiling!
Now live streaming e-commerce and Internet celebrity e-commerce have become popular. I think this is a new outlet.

After the integration of Pinduoduo and Doushi, the business complements each other, Douvision creates a traffic matrix, and Pinduoduo provides an e-commerce matrix.

While Douvision improves its monetization capabilities, it also provides a new incremental market for Pinduoduo.The ultimate beneficiary is Zhonghe Group, which combines the two companies into one, and it is also the shareholders.

Therefore, I think we should not be entangled in the little interest in front of us.

Let's take a long-term view. Dou-duo and Dou-duo will definitely produce the effect that one plus one is greater than two. "

"Mr. Lu, it's true to say so, but I still think DouTV's valuation is too high."

Lan Lanyun glanced at Ren Yu and said, "I still think Pinduoduo is overvalued?"

Lu Qi smiled wryly, it is really difficult to integrate the company.This is still the cognition and contradiction at the shareholder level. When it comes to the business level, how many difficulties are waiting for me?
But since I have assumed this position, I have to shoulder the responsibility.No matter how many difficulties there are, you have to overcome them one by one.

Lu Qi began to comfort several parties again.

……

"Xiaohui, it seems that the Gaomeng app has stopped the account opening promotion for merchants paid by Mobao. What have you been doing lately?"

In the female dormitory of Jizhou University, her roommate Yuanyuan was asking Chen Xiaohui.

Maybe she can't be called Yuanyuan anymore, this girl's face is no longer round, it has become a common internet celebrity face with a pointed chin.

She glanced at her roommate Yuanyuan, thinking that this roommate is usually pretty good, so Chen Xiaohui said, "I'm shooting short videos on TikTok.

Have you heard of Tiktok?A short video platform is much more interesting than Weibo.

As long as you keep posting videos, you will definitely be able to slowly become popular, and slowly your fans will increase. "

"What's the use of having more fans? That TikTok is just an empty shelf. There are no rewards, and the platform doesn't pay wages. It's a waste of time."

A strange voice came, it was Chen Xiaohui's other roommate, Tian Tian.

"Ha ha!"

Chen Xiaohui was unhappy with the sweetness, and said sarcastically, "You're ignorant! Do you know what kind of event they launched on the DouTV platform?

Ten billion creative subsidies!As long as the number of likes or playback of the short video you post reaches a certain standard, cash rewards will be issued. "

"How much money can I have?"

Tian Tian rolled her eyes, "I live broadcast once on Cucumber Live, and I can receive tens of thousands of dollars in gifts in one night."

Chen Xiaohui just didn't bother to talk to this silly woman, she just did her own thing well.

"Xiaohui, can you really make money by making short videos on Douyin? I made some short videos on Toutiao before, and their so-called "billion creative subsidy" is just a cover.

No money, all traffic promotion resources worth 1 yuan to 8000 yuan. "

Yuanyuan flattered her, "Can you teach me how to shoot short videos on TikTok?"

Chen Xiaohui said with a smile: "It's simple, you can either appear on camera by yourself, sing or dance.

Or organize some movie clips and do movie commentary.Or you make a ranking list, what kind of song ranking list, Hong Kong and Taiwan female star appearance ranking..."

Chen Xiaohui patiently shared her experience, and Yuanyuan listened very carefully. It was obvious that she really wanted to make a good short video, or make money.

After a while, Chen Xiaohui went out to class.

"Yuanyuan, why are you asking her for advice? Didn't I tell you? You can easily earn [-] to [-] yuan a night if you sign a contract with Cucumber Live."

Tiantian said while applying nail polish.

Yuanyuan shook her head, "No, in front of so many people... I can't do it."

"Hehe, have you ever thought about it? Now you have to repay the medical beauty installment loan of several thousand yuan every month, how do you repay it?" Tian Tian sarcastically said.

Yuanyuan squeezed the corner of her clothes, and whispered, "I'll go out and do a part-time job and pay back slowly!"

"How much money can you earn as a part-time flyer? Eighty or one hundred a day? Besides, do you have that much time?

Let me tell you, if you repay the loan, those people can do anything, not bomb your phone address book and ruin your reputation;

I just want you to go to the bar to drink with me, to be a KTV princess..."

The more Yuanyuan listened, the more frightened she became. She was about to cry, and begged, "Tiantian, can you help me?"

"How can I help? You can only save yourself. If you live broadcast for half a month, you can basically pay off the loan. Renren will pass."

Yuanyuan bit her lower lip, "But...what if a screenshot is uploaded to the Internet?"

"You wear a mask! As long as you can't see the face, who can recognize the body?"

Yuanyuan shook her head vigorously, "No, if people find out, my life will be over."

"Hey, you silly girl! What era is this, why are you still so old-fashioned?
Look at Li Lizhen, Shu Qi, Tang Wei, which one is not getting more and more popular?

In this world, laugh at the poor but not at the prostitute! "

Yuanyuan completely broke down, and while wiping away tears, she said: "That hospital and the loan company are all in the same group. I originally only wanted to have a double eyelid surgery, but they insisted on making me have a nose pad and hyaluronic acid...

I said I had no money, so they asked me to take out a loan.I did the math, and the annual interest rate on that loan was more than 70%. "

A trace of unbearableness flashed in Tiantian's eyes, Yuanyuan has today, and she has a share of the credit.

She also had no other choice. To keep her face from deforming, she had to take hyaluronic acid for a long time.

Her godfather doesn't want her anymore, saying that she is not natural anymore and is getting uglier.

She has no choice but to earn a little commission from her good sisters to maintain a decent life.

"Hey, don't cry, come with me to my rental room tonight! Watch how I broadcast it, and you'll get used to it gradually."

(End of this chapter)