Winning the new financial era

Chapter 409 Valuation is a problem

Xiong Xiaoge also understood at this time, the feeling is not to want to share a piece of the action, but to take the blame!
He felt that there was little hope for this thing to become a tycoon with a market value of tens of billions of dollars.

Without him, China's giants are too ruthless!
If Guo Lie had Zhang Yida's ability, he felt that there was a chance of success.

Of course, Guo Lie is not bad, but he is still several ranks behind Zhang Yida.

If Guo Lie continues to manage it, Jimeng may be a small and beautiful project, which is popular among teenagers and female users, but it will not make much money.

But in the hands of Zhang Yida, maybe something different can be sparked.

He has no resistance at all to selling the company or selling shares.

He was originally in this business, and as long as the money is in place, he can also help Zhang Yida persuade Guo Lie to sell the company.

But selling the company is a big deal, and the main will depends on the founder Guo Lie.

He is the CEO, the major shareholder, and holds the most voting rights in the company.

If he doesn't want to sell the company, he can't force him with a knife around his neck.

He looked at Guo Lie and observed the reaction of the young founder.

"Jime has not yet touched the growth ceiling, and users have been growing rapidly."

Guo Lie wanted to speak harshly, but Zhang Yida interrupted, "Can you kill Meitu, Kuaishou, and Doushi? If you can't, 1 million users is your ceiling.

For a few minutes of user usage time, advertising can't make much money. "

Although Zhang Yida said it very bluntly, Xiong Xiaoge who was beside him nodded secretly.

They IDG participated in the angel round and A round of investment, why not participate in the B round of investment?
Very simple sentence: not particularly optimistic.

Investing a few million is just a chance. What if the product becomes popular?
If you want to invest tens of millions, you need to carefully weigh it.

“Even with 1 million active users, can we become a unicorn company?”

Guo Lie thought for a while, and he really couldn't refute Zhang Yida's words, but he still replied bluntly.

"Are unicorns enough?"

Zhang Yida's smile and slightly sarcastic tone stung Guo Lie's haughty heart.

He thought, as a person born in 89, if he could create a unicorn company before the age of 30.

In China, and even in the world, it should be considered the best!
Why did Zhang Yida look down on him?

Lenovo Zhang Yida is the chairman of the three listed companies, and there are two super unicorns with a valuation of tens of billions of dollars. As for the small unicorn companies, there are also several.

The other party is indeed qualified to say such a thing.Unicorns are beyond the reach of ordinary entrepreneurs, but for Zhang Yida, they are just the starting point of the company.

"Join the Zhonghe Group family, and I'll take you to the international market for a round, and compete with "Dead Hiccup"."

"Damn hiccup?" Guo Lie was a little puzzled.

"This is the code name I gave Spiegel. After Jimeng joined our team, Sharab became our opponent. Sooner or later, we will make them burp."

Zhang Yida's humor almost made Guo Lie forget that the other party wanted to buy his company, so he laughed too.

"Don't laugh, I've seen that kid upset a long time ago, cleaning up some stupid things all day long.

Looking at Sharab's financial report, it lost $15 million in 3.729 and $16 million in 5.146.

There are too many temptations in capitalist countries, and I think Brother Hiccup has long since lost the aggressiveness of the past.

Let Jimeng enter the international market at this time, which caught him by surprise. "

Guo Lie is also seriously thinking about Zhang Yida's words. If he sells the company to Zhonghe Group, what can he gain?
Get a lot of cash and marry Bai Fumei?Or a bigger platform for you to express your ambitions?
"Yida, you are too sudden, I need to think about it."

Guo Lie's mind is in a mess now, and he listened to many of what Zhang Yida said.

I have worked so hard to start a business, isn't it just for a better life.

A wife with long legs, a luxury car and a mansion, a house in the school district for the children, and the oxygen mask will not be pulled out by the children in the future...

change the world?nonexistent.

Before you succeed in starting a business, no one will listen to what you say; if you succeed in starting a business, it’s good to fart.

Zhang Yida waved his hand, "What else are you thinking about? To join Zhonghe Group, you can choose cash + equity, or all cash or all equity.

You are the shareholder of Zhonghe Group, and at the same time continue to be in charge of Jimeng products.

We are not superiors and subordinates, but partners.

The results of Douvision + Musical.ly will not lie to you, the global registered users have approached the 10 billion mark.

Within sight, there are Facebook, Youtube, and Sarabu.

There's no point in fighting at home.Fighting against the global giants will not be in vain. "

The predicament of Sarabu, the shackles of excitement, the pursuit of material life of entrepreneurs, the vision of Zhonghe Group, etc.

Zhang Yida said everything he had to say, and it was up to Guo Lie himself to make a decision.

If Guo Lie was smart enough, Zhang Yida guessed that he would not reject him.

Guo Lie cast his eyes on Xiong Xiaoge, motioning for the latter to say a few words.

Xiong Xiaoge said, "Let me say a few words! Yida has a thorough analysis of the industry status at home and abroad.

Jimeng grew further, and even broke out of a cocoon into a butterfly and evolved into a social platform.

It is bound to move the cheese of vested interests and lead to more intense battles.

But can this be resolved?Or find allies, such as Penguin's investment? "

"Obtaining Penguin's investment can indeed withstand many backstabs.

But the key is to prove your own value, for example: let users develop the habit of socializing with pictures.

Photo social networking, Huapetal.com appeared in China in 08, and users can collect pictures from other websites to Huapetal.com for sharing.

In 10, Dutang.com, which is similar to Huapetal.com, also started to go online. The two websites opened up the embryonic form of photo social networking in the PC era.

In 2013, China's mobile Internet users exceeded 5 million, and the proportion of Internet users using mobile phones to access the Internet increased to 81%, and China's mobile Internet industry also began to usher in a big explosion.

Ruixiang, Yimin Wangjin, and Jimeng were also established in this year.

The picture social field also gradually opened up this year. Apps such as nice and in were launched respectively, and picture socialization entered the era of mobile Internet.

in was also listed on the NEEQ last year, becoming the first social photo stock in China.

What kind of market is the New Third Board, you all know it well.I will not say much.

Let's talk about the fundamentals of Jiuyan Technology, an in software operating company.

15年营收67万，亏损2亿1274万；16年营收翻了50多倍，达到了3726万，亏损1.3181亿。”

This material reported that Zhang Yida laughed while reading it, so he stopped reading and handed the material to Xiong Xiaoge.

Zhang Yida went on to say: "Through these data and reports, we can see that photo social networking has not become as popular in China as it is in foreign countries.

Analysts value Ins at $350 billion, while Sharab is valued at nearly $300 billion.

China is such a big market, let alone a company with the same size, it doesn't even reach one percent of its size.

What causes it?
First of all, Penguin is too powerful. If any social product wants to grow bigger, it cannot bypass WeChat and QQ.

The siphon effect brought by WeChat and QQ makes it difficult for other social products to shake their position, unless these social products can replace WeChat and QQ, which is extremely unlikely.

In terms of commercialization, the imagination of picture socialization is also very narrow.

There are three and a half main profit models in the Internet industry, e-commerce, games, advertising, and Internet finance.

Under the three-and-a-half profit model, it has long been divided up by several Internet giants, and it is difficult for small companies to make big breakthroughs.

In terms of functions, picture social products tend to overlap with other social products.

The picture itself cannot be socialized, it is more like a public community, that is, the public pictures further promote social relationships.

This demand conflicts with WeChat Moments and Qzone. The first platform that users want to share photos taken is WeChat Moments and Qzone.

Instead of in and nice, this greatly reduces the number of their picture uploads.

Without a sufficient number of uploaded pictures, it is impossible to attract enough users and accumulate social relationship chains.

After all, social media with pictures is still a small group, unable to stand above the mainstream vision.

You ask, how many people around you know about social networking with pictures, and even play social networking with pictures?
So many companies have not completed the great cause for so many years, Jimeng is confident to complete it?

Cai Wensheng dare not say that!Meitu also wants to transform from a tool software to a social platform, but what kind of achievements it can achieve remains to be further observed. "

Xiong Xiaoge nodded, Zhang Yida said these are the pain points of the industry!

He believes that the most important of these is the existence of penguins, which greatly limits the growth of domestic photo social networking.

Unlike Facebook, Penguin launched Qzone in 05, and WeChat Moments in 12, and both times accurately stuck to the neck of domestic image social networking.

Facebook acquired the photo social software ins in 12, and the instant messaging software WhatsApp Wattsup in 14.

There is a time gap here. Take Sarabu as an example. It was established in 2011. After growing up, it quickly attracted the attention of Xiao Mazi.

Xiao Mazi continued to launch similar products, and used all kinds of tricks, but they couldn't stop the take-off of serabu.

In 13, a purchase price of 30 billion US dollars was offered, which was also rejected by Brother Hiccup.

Up to now, Shalabu has cut away a piece of fat that originally belonged to Facebook's bowl, mainly young people born in the 90s.

These people don't like Facebook's products, think it's not fun enough, old-fashioned, and prefer fashionable and trendy salad cloth.

As for commercialization, Xiong Xiaoge thinks it’s okay, as long as there are enough users and usage time, commercial realization should not be too simple.

Live broadcast e-commerce, game promotion, advertising platform, granting loans to users, all three and a half profit models can be displayed.

Perhaps it will be of the greatest value only when it is in Zhang Yida's hands to stimulate cuteness.

This kid holds a good hand of cards, three and a half profit models have layouts, and there are a bunch of national-level applications that have traffic entrances.

In addition, it is also a good move to let Jimeng go abroad to see the world abroad.

Domestic users do not have the habit of socializing with pictures, but foreign users do!
If you can achieve tens of millions or hundreds of millions of monthly active users abroad, it will be another scene.

"Yida, in your hands, Jimeng can indeed exert greater power. For Zhonghe Group, it is also like a tiger with wings added."

Xiong Xiaoge looked at Guo Lie again, "Xiao Lie, I personally tend to "merge".

Of course, as the founder and major shareholder, you have to be the one who makes the final decision. "

Guo Lie nodded and looked at Zhang Yida, "Yida, I can sell you Mengmeng, but I have a few conditions."

"you say!"

"First, I hope that I can continue to serve as the product manager of Jimeng;
Second, I hope the team can continue to stay in Pengcheng, because everyone prefers the entrepreneurial atmosphere here;
Third, let Jimeng go to sea for a try with the support of Zhonghe Group.I didn't have this capital before, and now I want to see if I can achieve results.

fourth……"

Guo Lie Lingling always mentioned seven or eight conditions, all of which were small things, and the last few were about team treatment and stock options.

It can be seen that he still attaches great importance to friendship, and he is willing to sell the company only after he has determined the treatment of the brothers who started the business together.

It's not a big deal, Zhang Yida agreed to everything.

After having another meal together at noon, Guo Lie bid farewell to Zhang Yida, returned to Pengcheng, and then notified the major shareholders, throwing out a draft resolution to sell the company.

Except for Meitu’s opposition, other shareholders expressed their support.

Meitu is worried that Jimeng will become a strong enemy of Meitu in the future if it gets the funds and resources of Zhonghe Group.

The other shareholders hope to become the promising shareholders of Zhonghe Group through the exchange of shares.

Meitu’s shareholding is less than 10%, and the opposition has little effect. The exciting board of directors quickly passed a resolution to sell the company.

Zhonghe Group plans to acquire Jimeng at a price of US$2 million, including US$5000 million in cash and US$1.5 million in additional shares.

For cash, Meitu exited with US$2000 million, and the founding team of Jimeng chose to cash out US$3000 million.

Other shareholders, such as IDG Capital and Lightspeed China, have chosen to replace the full equity of Jimeng with the equity of Zhonghe Group.

The valuation of Zhonghe Group is a bit troublesome to calculate. The last round of financing was a year ago.

In the middle, we experienced several major events such as the merger of Pinduoduo and Doushi, the skyrocketing GMV of Pinduoduo and Douvision, and the rapid growth of Musical.ly users.

Valuation is a difficult problem!
　Thanks to book friends 20180123141028232 for the reward!
　　
　
(End of this chapter)