Completed Salted Fish's Self-help Strategy

Thinking of some situations in the original world, Chu Yuanxi glances down the stage again. Yuan Jing and Yuan Mu sit together, and Yuan Mu frowns slightly. It seems that her work will become a lot more difficult after Chu Yuanxi says so. However, Yuan Jing nods frequently, and seems to agree with this judgment.

"I'm not saying that it's not good to use the PE system for financing, but early IPO and financing under the PE system mean the same thing as the start-up companies are desperately undervalued by investors, and the subsequent refinancing can't be happy. Although early listing can raise a large amount of money at one time, this "large amount of money" is relative to the size of the company, but if you want to maintain high-speed development, financing can't stop. What should you do in the future? If investors want to send cash to the company at a premium, they can only pay the market price. That's a lot of problems.

Therefore, you can see that few early listed companies have been able to grow into super large companies with the help of the open market, unless they are listed early, but they have dominated a wide enough track. reason? The size of the company is not large enough. Entrepreneurs have to release more shares to get the same amount of money. It's easy to lose control of the company, or fall into internal struggle, or don't want to raise funds. In short, the company doesn't do much.

Companies in the open market, in particular, are subject to more and stricter supervision. For example, misappropriation of raised funds is a felony. It is very difficult for companies to maintain a pioneering attitude. It is even more awkward for them to come in case of barbarians at the door. Therefore, TMD, which aspires to become a super large company, is not in a hurry to IPO. It should at least achieve a scale of 300 billion. If the company is big enough to consider listing, no barbarian is afraid. I said that 300 billion is a pass, and I also mean before listing.

On the other hand, in the stage of venture capital, enterprising investors can be "spirited" because they are optimistic about the company. They can give super standard support to a company that has potential but has not yet taken off. Regardless of the cost-benefit ratio, they can make the company fully realize its potential, reach the expected height, and finally grow into a super large company, a national or even a global company.

This is a matter of quantity. How much quantity there is, how much space there is for listing. So it's called the myth of the capital market that the two companies, like Mordor, go public quickly and go to Nasdaq for IPO? Investors are really happy and have made fast money. In fact, the ceiling is already obvious. It will take a lot of effort to get privatization back in the future.

I don't want Xiaokang to be such a company.

Another inappropriate example is iFLYTEK, which was expected to become the dominant track player. What would happen if iFLYTEK was unlisted in 2013? With iFLYTEK's technology accumulation, surely it will break out? With iFLYTEK's industry status and prospects in those years, you can raise money as you like? After six years of hard work and continuous large-scale financing, the market value of 300 billion should be the lowest limit now, right? It's a super big company.

Still assume that iFLYTEK is not a listed company in 2013, and then IPO at that time, or how much money can be raised in the open market in the past six years? Considering the domestic refinancing environment in recent years, is 10 billion the best? Maybe not yet. In terms of the amount of financing, it basically denies the opportunity to become a large national company. "

Some words Chu Yuan Xi did not say. In reality, iFLYTEK completed its IPO in 2008, and artificial intelligence broke out 13 years later. It has been desperately financing. It has to do a private placement almost every two years, but it has only raised less than 8 billion yuan.

It's an indescribable surprise for the average company to finance 8 billion yuan. It will cost a lot of indescribable price. But how can iFLYTEK, which is the first share of AI in China, be enough?

IFLYTEK is not Xiaomi. It can finance some money to produce products directly. We don't know how much it is just that it doesn't directly form the R & D direction of products and external sales. The 8 billion yuan is just a drop in the bucket. It's impossible to do whatever you want.

So in the past six years, this track has been full of entrepreneurs with strength. The peak market value of iFLYTEK is no more than 100 billion. It is not a breath away from the national level difference, and it has almost given up the track.

When Chu Yuanxi finishes talking about iFLYTEK, he finds that there are some big guys with strange looks. It's very interesting to think about who iFLYTEK has been working with in recent years

"Wonderful! How wonderful After hearing this, Xu Xin also had a good taste for a while, and then quickly clapped, "your opinion is the same as that of Yuri, a Russian investment tycoon. Yuri liked to invest in enterprises according to the high valuation of three times the market price in those years. Seeing that people have a lot of money, he is a super company. You don't want to be an enterprise, but you want to be an investment. I feel that you can also be outstanding, really. "

Chuyuan Xi ha ha a smile, heart said that this is the pit out of ah! Why did Xiaokang in the original world pursue listing after two years? Because, Chu Yuanxi just sprayed a pile of balabal, saying "enterprising investors".

However, the overall attributes of the investor group in the former well-off world obviously have nothing to do with their courage. Even if Yuan Jing is exhausted in it, it's useless. Therefore, it's good for everyone to go public early, and it's also a relief for chuyuanxi. When they go to the market, they are responsible for their own business, so their responsibility to these investors is not so heavy.

This time, chivalrous swordsman comes back. Of course, Chu Yuanxi hopes to purify the revolutionary team. Now he is qualified to select some really enterprising investors. At least Xu Xin said that. The financing plan in August is very promising.Finally, this small investment report will finally come to an end. Does Fang Shiling think it's his turn? As a result, Yuan Jing had something to say to Chu Yuanxi, so he had to watch Chu Yuanxi take Yuan Jing and Yuan Mu into the teahouse. Zhu Xiang was so sleepy that he couldn't help looking at Shiling and Weining, took them to another small conference room, and then quickly slipped away.

In the teahouse, Chu Yuanxi made two cups of tea for yuan Jingmu, and then came to the point: "in fact, there is nothing else. I want to do a round of pre in April and may at the latest_ A financing. "

"In such a hurry?" Yuan Mu did not expect, "your 100 million is enough to spend?"

"Enough spending is enough spending, but it's very difficult to recruit very powerful people in April when we have to push to milestone 2 and follow the 100 million spending to make our society well-off. Did I send you the milestone schedule? Only when we get the milestone in April and August can we let outsiders see a general picture and have greater attraction. "

"Didn't you recruit some powerful people in front of you?"

"The talents in front of me are dug out one by one, such as the process of recruiting Liu Lu, don't you know? It's impossible to recruit people like this. We have to recruit them openly. "

Yuan Mu was even more fascinated: "but are you not afraid to break the balance of wage structure by relying on super high salary?"