Winning the new financial era

Chapter 501 Another Win
"This is the revenue report of Douvision and Musical.ly from April 2017 to April 4, excluding Kuaishou and Xiaohongshu, which were later acquired.

With a revenue of 262 billion yuan, should you guys settle the bill? "

Zhang Yida joked, and asked the secretary to send the revenue statement to the investors present.

Masayoshi Son was not present in person, but was represented by Xue Cunhe of Softbank China.

Xue Cunhe took the document and looked through it carefully.

In fact, Zhonghe Group’s B round of financing is betting against Penguin and four other investment institutions.

Softbank took over the equity of Penguin, which is equivalent to taking over all the responsibilities and obligations.

Zhang Yida guessed that Softbank would not be so stupid, did he suffer for Penguin?There should be a supplementary agreement signed, each of these big investment institutions is smarter than the other.

Zhang Liping, chairman of Blackstone Greater China, looked at the report in his hand, and turned to Zhang Yida: "95% of the revenue is contributed by Douvision, and Musical.ly is less than 5%?"

Zhang Yida nodded, "After all, Doushi's market is in China, and the business environment is more familiar, contributing 249 billion yuan in revenue;

The Musical.ly market is overseas. Apart from being unfamiliar with the business environment, we still want to wait until the market position is more stable before seeking commercial realization.

After all, once an advertisement is posted, the user experience will be poor, not to mention that there are still several competitors who imitate and follow suit.

Musical.ly is not going to give them a chance.

Musical.ly's current revenue mainly comes from in-app purchases, a virtual currency that needs to be purchased, which can be used to reward anchors.

In the future, advertising and e-commerce will gradually begin to explore. "

Bao Zheyu, director of BlackRock Asia Pacific, cursed secretly, but said with a smile on his face: "Okay, I am so surprised by Doushi's commercial monetization ability, it can even be called a surprise."

When Zhang Yida got the report, he was actually a little surprised. Two months ago, he was basically sure that the bet was safe.

However, how much equity will be won is still uncertain. The revenue of 262 billion is more than 231 billion higher than the 30 billion estimated last year. How can it not make people happy.

Dongfang Yu's expression was indifferent, "Yida, how much equity do we want to lose to you and the management? Just say the number."

Ma Dongmin himself did not attend the meeting in person. Qiandu has a little conflict with Zhonghe now, and a man in a suit in his 30s attended the meeting on her behalf.

The man's name is Peter Lin. He is from Hong Kong. He came from an investment bank and is proficient in asset management.

This Peter was not procrastinating at all. After getting the report, he buried himself in the calculations.

At this moment, he picked up a piece of manuscript paper and read: "According to the signed VAM agreement, the revenue of 262 billion yuan exceeds the 200 billion revenue of VAM, and the valuation has increased by US$60 billion.

In other words, the valuations of Douvision and Musical.ly are US$310 billion, and Zhonghe Group’s B-round post-investment valuation is revalued at US$460 billion.

In the B round of financing, our five-party investment institutions invested 45 billion US dollars and obtained 11.25% of the equity.

If the valuation is recalculated based on the post-investment 460 billion US dollars, the corrected equity ratio should be 9.78%.

Our five-party investment institutions lost a total of 1.47% equity to the founders and management.

At the same time, according to the supplementary agreement, these shares will be diluted in proportion to follow-up financing.

Zhonghe later acquired Kuaishou and Xiaohongshu, and accepted the copyright and cash shares of the three major record companies.

This 1.47% stake is currently diluted to only 1.36%.

According to the amount of financing, the responsibility of Penguin is transferred to Softbank, and Softbank assumes 1.36% of the 55.56% equity;

Blackstone and BlackRock each bear 17.78%; we and Mr. Dongfang Yu each bear 4.44%. "

Zhang Yida had already calculated in advance, and it was indeed this number, not bad at all.

So he smiled and praised: "Mr. Peter is good at counting!"

Peter smiled faintly, "We should fulfill these promises that should be fulfilled.

However, the revenue reports of Douvision and Musical.ly need to pass the review of our five investment institutions. "

Zhang Yida nodded, "This is what it should be!"

He glanced at everyone again, "The merger of Ruixiang and Zhonghe will be completed soon, let's implement this matter first, so as not to be confused when we get it."

Several investors nodded, but their faces were not very good-looking.

Bao Zheyu, in particular, gave Zhang Liping a gouged look.

The idiot first proposed the bet against each other, and then everyone jumped into the pit.

Sensing Bao Zheyu's gaze, Zhang Liping shrugged, expressing his innocence.

Besides, weren't you also very confident at the time?He also took the initiative to magnify the betting.

Now that you lose, blame me alone?

Dongfang Yu's face was full of smiles. Anyway, he didn't invest much, and he didn't take it seriously if he lost a little equity.

The key is that Douvision has proved its commercial monetization ability, and its valuation may skyrocket in the future.

Ruixiang will also merge with Zhonghe, and I am afraid that it will be firmly seated as the third largest Internet company by then.

He regrets it now, is the $2 million less invested?

Xu Xiaoming often showed off in front of him, saying how smart he was, and he hit Zhang Yida.

Now that he is also a shareholder, it will be up to him how he pretends to be aggressive.

It’s just that compared with Zhenke Fund, its own shares are indeed much less, and the financing round is also later.

The rate of return is definitely not as good as Xu Xiaoming.

He also glanced at Peterlin, guessing that Ma Dongmin was afraid of embarrassment if he didn't come!

After all, his husband's third position on the Internet won't last long.

Once Ruixiang and Zhonghe merge, from revenue to profit, to valuation, even ecological layout, and industrial influence, they will overwhelm Qiandu in all aspects.

Didn't some people say that Didi, Leech Jinfu, Dami, and Goudong have already surpassed Qiandu.

But that kind of transcendence is only the transcendence of valuation, and the influence, actual revenue, etc. are still a little bit worse.

After the new group formed by the merger of Ruixiang and Zhonghe was born, the debate can basically be stopped.

At that time, if it is reported that the Robin Lee family office is investing in Zhonghe Group, it will be very lively.

Ma Dongmin may have also anticipated the consequences now, so he had to keep a low profile.

"What's the name of the new group?"

Seeing Dongfang Yu's question, other shareholders also turned their attention to Zhang Yida, and they also wanted to know the answer.

"How about a student group called Xinruizhong?"

Dongfang Yu shook his head, "It doesn't sound good, and it's not conducive to brand communication. If you want me to say, let's call it Ruixiang Group!

Ruixiang has been established for a longer time, and Zhonghe Group is also assembled on the basis of Pinduoduo and Doushi. The time is still short, and the brand awareness is not as good as Ruixiang.

Moreover, both companies are under your control, so you don't need to learn from Mei Tuan and 58 to give the merged company a face. "

Not to mention, Dongfang Yu's words still have some insights.

Ruixiang is Zhang Yida's first company, and it can be called the place where his dreams set sail. He still wants to keep this brand.

"That's fine, just listen to senior brother!"

Dongfang Yu smiled lightly, and said no more, with a demeanor of a master, hiding merit and fame deeply.

(End of this chapter)