Winning the new financial era

Chapter 430
Zhang Yida and the others chatted very enthusiastically, and Xu Xiaoming began to consider publishing a book.

Su Hua's side is also not peaceful.

The three of them came to another private room arranged by the high-end private club.

"I think it can be promised that the $100 billion can be called a certainty."

Chen Yixiao rubbed his hands together, and said with a smile, "Such a smart person like Zhang Yida, how did he come up with such a foolish trick?"

"Stupid? Are you sure?"

Zhang Fei looked at Chen Yixiao, shook his head and laughed. Fortunately, he found Su Hua back then, otherwise he wouldn't be as fast as he is today.

Although Chen Yixiao and Su Hua are both technical backgrounds, the latter is far better than the former in marketing, operations, and even understanding social dangers.

Chen Yixiao is good everywhere, but he is a little too honest.

Otherwise, when Su Hua was introduced back then, and he was asked to take out 40% of the shares, he would not have agreed without blinking his eyes.

If this matter is left to other entrepreneurs, I am afraid that it will be torn up long ago.

"You can't look at it that way. Zhonghe Group is merging with us based on the valuation of one or two years later."

Zhang Fei spread his hands, "For example, Zhonghe Group is a real estate development company, and our Kuaishou is the demolition household.

Now the developer said to the demolition household: Hurry up and agree to the demolition, give us the land, return you a beautiful house in two years, and give you some cash compensation. "

Chen Yixiao patted his head and said with a smile: "Then should we agree to the demolition, or continue to be a nail household?"

Giving Zhang Fei a good laugh again, he patted Chen Yixiao on the shoulder, "I'll use this example to tell you a truth.

The profits gained by real estate developers from demolishing and building houses must far exceed that of demolished households. "

"Naturally," Chen Yixiao nodded, "How can common people compare with real estate tycoons?"

"Yes," Zhang Fei saw that Chen Yixiao was finally on the same channel as her, and continued happily: "Then we are ordinary people?

We are a unicorn company with over 5 million registered users, 9000 million daily active users, and 1.9 million monthly active users.

So we can't be fooled by unscrupulous real estate developers like ordinary people.

To demolish our house, at least pay me a building! "

"Mr. Zhang, has your hometown been demolished?"

Zhang Fei gave Chen Yixiao a sideways look, and said with a smile, "Not yet, there is really a boss who wants to demolish, not to mention a building, I will at least ask for an extra house."

Chen Yixiao started laughing, and felt that Zhang Fei's serious attitude and his status as a well-known investor could really be obtained.

"Okay, okay, hurry up and get down to business."

Su Hua attracted the attention of the two of them and began to talk about his point of view.

"I think we can agree to bet against each other, because after the equity replacement, we are also shareholders of Zhonghe Group.

Zhang Yida's promise of a valuation of 800 billion yuan is also an insurance for our equity property.

If there is no such guarantee of gambling, if the development of Zhonghe Group is not as expected, and the valuation drops to 400 billion US dollars or 200 billion US dollars, wouldn't we be dumbfounded? "

Zhang Fei shook his head, "There is a risk of a decline in valuation, but seeing the development momentum of Zhonghe Group and the popularity of the short video industry, the probability of this risk happening is very small.

For the short video industry, I think it can last at least another five years. "

"Then we shouldn't agree to Zhang Yida's proposal?" Chen Yixiao asked.

"Agreed, but with some additional conditions."

……

"First, the time for the VAM is set for one year, and Zhonghe Group will reach a valuation or market value of US$800 billion within one year.

At the same time, this valuation cannot be mixed with water. The investment institution must be a well-known investment institution at home and abroad, and the financing amount should not be less than US$20 billion;
After listing, the average market capitalization within six months shall not be less than US$800 billion.

Second, the $20 billion in cash must be delivered at one time, and the equity transfer must also be completed at the same time.

Third, retain the Kuaishou brand and operate independently.

......"

Zhang Fei offered Zhang Yida one by one the conditions that the three of them had discussed.

"Others are fine, there is a problem with the first one."

Zhang Yida said: "One year is too short, Zhonghe Group has only raised 45 billion US dollars, and it will not raise again for a long time.

And you have to raise 20 billion U.S. dollars for this clause, which is a bit too deliberate.

If Zhonghe Group is not short of money in the future, does it have to go to a round of financing to prove its valuation?

It is more appropriate to change this one-year period to three years.

In addition, the market value fluctuates greatly, and Ahri and Penguin have developed for so many years before their stock prices gradually stabilized.

Who can guarantee that the market value will always stay above 800 billion US dollars?
Apart from Ali and Penguin, there has never been a third Internet company in China.

This article needs to be changed, and the maximum market value will reach 800 billion U.S. dollars within half a year of listing. "

Su Hua said with a smile: "If it is changed to three years, wouldn't Zhonghe Group merge with us with the valuation after three years?

This is a bit unfair to Kuaishou!
Otherwise, Kuaishou will also make a bet with Zhonghe Group for a period of three years. After certain indicators are completed, the company's valuation will be recalculated. "

Zhang Yida looked at Su Hua and said seriously, "Are you sure?"

Just as Su Hua was about to speak, Zhang Fei kicked him under the table, and said first, "Two years, the betting time is set to two years, it's okay!

Within two years, if a round of financing of more than US$20 billion is completed, and the post-investment valuation is no less than US$820 billion, it will be considered as a VAM completion;
If listed within two years, the market value shall be based on the highest point within two years, that is, before August 2019.

How about Mr. Zhang?This condition is satisfied! "

Zhang Yida stood up and held out his right hand, "Deal!"

On the way back.

Su Hua asked Zhang Fei: "Why don't you let me bet against Zhang Yida?"

"No need!" Zhang Fei shook his head, "So what if you win the bet?"

"If you win the bet, maybe Kuaishou will be valued at 300 billion or 500 billion U.S. dollars by then?"

Zhang Fei laughed, "Wouldn't Pinduoduo and Doushi's valuations go up?

You go up, he goes up, the effect is still the same.And there is a high probability that others will rise faster than you.

Have you ever thought about losing a bet?In other words, the development of Kuaishou is not as good as expected. "

Su Hua was silent, thinking about it carefully, he was indeed a little impulsive.

In mergers and acquisitions, the target of the acquisition is generally required to make performance promises or bet against each other.

Zhang Yida didn't mention it, so he offered to deliver it to his door.

But even if Zhang Yida mentioned it, if it was still under the premise of a valuation of 100 billion US dollars, he would definitely not sign the agreement.

Risk and reward are not directly proportional to it!

Zhang Fei said lightly: "Everything is too late, Kuaishou sold 100 billion U.S. dollars, even if 30 billion U.S. dollars can only be obtained after two years, it is still worth it!
Why bother to add extra branches and put yourself in a dangerous situation? "

Su Hua nodded, he had learned it.

Zhang Fei seems to be penny-pinching, but he knows how to choose, how to advance and retreat.

……

Liu Zhiping took Ren Yu into Bonima's office, and the first sentence he said was: "Zhonghe Group has taken Kuaishou!"

"So fast?"

Ponima was also a little surprised. It took less than two weeks from the first meeting to the transaction!
However, it will be at least a month or two after all the due diligence is completed, the big and small agreements are signed, and the work is handed over.

Large-scale mergers and acquisitions have always been like this. When the boss moves his mouth, the subordinates run away.

"What about the transaction price?"

Liu Zhiping made a fool of himself, "Guess first?"

Ponima looked at his and Ren Yu's expressions, thought for a while and said, "60 billion dollars!"

"wrong!"

"$70 billion!"

"It's still not right!"

Ponima rubbed his brows, "It can't be 100 billion dollars, right?"

"You really guessed it right!"

Liu Zhiping said with a smile: "It's 100 billion US dollars, 20 billion US dollars, plus 10% of Zhonghe Group's shares."

"Zhonghe Group is valued at US$800 billion?"

Bonima looked at Liu Zhiping, opened his mouth slightly, with a look of astonishment.

"Are you sure you're right?"

Liu Zhiping nodded solemnly, "It's absolutely true!"

"Are the two companies here to be funny? Jointly hype?"

Ponima laughed and said: "If you do this, it's better to sell Kuaishou to Zhonghe Group at a valuation of 60 billion U.S. dollars. After the merger of the two companies, the valuation will be 480 billion U.S. dollars.

Moisture accounts for at least 800% of their current $40 billion valuation. "

Liu Zhiping said with a smile: "It's different. Although the equity transaction part is all issued by 10%, the cash transaction part has a discrepancy of 8 million U.S. dollars."

任宇也插话道：“快手本次的真实收购价也就在68亿～70亿美金之间，20亿美元现金，其余10%众合集团股权价值在48亿～50亿美元之间。”

Liu Zhiping nodded in agreement, "Yes, the $20 billion in cash cannot be faked, and I think the rest of the equity is a little watery.

You must know that Zhonghe Group was carrying a bet on its B round of financing before, and the real valuation is currently less than 400 billion US dollars. "

"One bubble doesn't digest, and another bubble blows up."

Ponima shook his head and laughed, "800 billion US dollars, how dare you brag, but the stock price of Qiandu reached 233 US dollars two days ago, and the market value briefly soared to 800 billion US dollars.

But it didn't hold up for a day, and the stock price fell back at the close, and slipped from the $800 billion top.

800 billion US dollars is a threshold, and whoever stands firm on it will be the third largest Internet company.

Zhonghe, there is still a long way to go!Say hello to Zhang Yida, don't mention $800 billion in the press release.

This is a complete joke!Not to mention the industry, even ordinary netizens don't believe that his company, which has been established for less than three years, has such a high valuation! "

Liu Zhiping laughed and said, "Zhang Yida should have a sense of proportion. The VAM agreement states that the valuation will reach US$800 billion within two years."

"Two years from now," Ponima nodded, "then the bubble can be almost absorbed. And Zhonghe Group will have to make 800 billion or even 1000 billion in revenue."

"Yeah, 800 billion, 1000 billion revenue, Pony, where do you think this revenue should come from?" Liu Zhiping asked.

"Hasn't TikTV started to be commercialized? It must be an advertisement!
Kuaishou is live streaming, and Pinduoduo is e-commerce.Probably composed of these three parts! "

Liu Zhiping nodded, "E-commerce is 300 billion, live broadcast is 200 billion, and advertising is 500 billion.

Two years later, it will not be difficult for Zhonghe Group to achieve this goal. Douvision’s revenue is set at 200 billion yuan, Kuaishou’s live broadcast revenue has reached several hundred million yuan per month, and Pinduoduo’s GMV is also growing rapidly... ..."

After listening to Liu Zhiping's analysis, Ponima nodded thoughtfully, "According to this, Zhonghe Group is very likely to become the third Internet company in China with a valuation exceeding [-] billion U.S. dollars?"

"If there is no accident, it should be inevitable."

Liu Zhiping's expression was serious, "Zhonghe Group monopolizes the short video track and controls huge traffic, which will also have an impact on Penguin Group.

All-round impact!

In addition to financial and corporate services, the other three major revenue sectors: games, digital content, and advertising will be directly or indirectly affected.

Therefore, we need to re-examine the relationship between Zhonghe Group and us.

In addition, don't forget that there is also a Ruixiang Group.

Including Ruixiang Group, our four main businesses have direct or indirect conflicts with Zhang Yida's industries. "

Ren Yu said: "Let me add a word, Leech Golden Clothes cannot be underestimated, this is also our deadly enemy.

Revenues from fintech and enterprise services are growing rapidly, and have almost replaced digital content revenues as the second largest pillar of revenue.

In the future, it is not impossible to surpass games and become the largest revenue pillar. "

Ponima nodded, he has been thinking about ToB strategy recently.

If Penguin, a big ship, wants to maintain an average annual revenue growth of tens of percent, it must constantly improve or change its growth engine.

The industrial Internet is a direction he is very optimistic about.

The outside world has always believed that social interaction is the foundation of Penguin, and games are Penguin's cash cow.

This understanding is also correct, but not all.

Penguin's financial technology and enterprise services have not been listed separately, and they have developed in secret, and only mentioned other businesses in the financial report.

In fact, this is the real trump card in Penguin's hands.

Thinking of the fledgling Ruixiang Group, Ponima suggested: "You say, how about we merge Ruixiang?"

(End of this chapter)