Reborn Entrepreneurial Giant

Lehman Brothers was willing to let Qu Li use the shares of Xiangcai Securities as collateral to lend 30 million US dollars to Qu Li, which almost made him laugh out loud again. To be honest, if it weren't for cheating, Qu Li's behavior is no different from selling pots, and it may disrupt the domestic financial order. But he opened up and knew that Lehman Brothers would be over next year, so he naturally had no scruples.

But just in case, Wu Hongning was not worried about the intrigue between the two parties on the contract. In the final analysis, the rich man is the uncle, and he is richer than Huatou. Isn't this brain damage? As for the choice of the local court, that is not the responsibility of the two of them.

The final contract was slightly different, mainly because of the price issue, but Qu Li and Lehman had information gaps, and the two sides paid different attentions, so they would not suffer no matter what, and the final result was self-evident. Lehman Brothers fell into Qu Li's trap from the very beginning of this cooperation, and Jumei's financing has therefore obtained very favorable conditions.

At the end of March, the sales of Jumei’s entire platform exceeded 30 million, of which the Jumei platform exceeded 10 million. This growth rate is hardly like a fashion clothing e-commerce company. Of course, compared with Taobao, it is just a baby. Not surprisingly, Taobao’s transaction volume this year is 43.3 billion, and it is 10.8 billion in one quarter. Jumei has not even achieved 3% of Taobao. But Jumei’s gross profit is astonishing, reaching 50%. Thanks to Taobao, which does not charge fees, the Taobao through train that began to appear last year is quite affordable.

Jumei’s financing also took the initiative because of this outstanding performance, at least 5 times the valuation at the time of the first round of financing. At the beginning, it was US$0.3 per share, and now it is at least US$1.5.

Under the urging of Wang Yunliang, Qu Li asked them to start quoting, which soon exceeded 2 US dollars a share, which made the Jumei team very happy. However, this was just the beginning, and Lehman was quite aggressive and pulled the price to 2.5 US dollars a share.

Shen Nanpeng, who claims to be rational, does not understand why Jumei is so popular. Is the track for clothing e-commerce really opened? In 2006, the national clothing consumption scale was about 740 billion, so what is the upper limit of leading clothing e-commerce companies? The current valuation of Jumei is still far from the upper limit, but the clothing e-commerce track is a domestic feature, and Nasdaq does not refer to it.

Just as Shen Nanpeng and Xiong Ge were hesitating, Lehman raised the price to 2.6 US dollars a share. SoftBank Zhongguo seemed to intend to raise the price, but Qu Li stood up and ended the price increase. Lehman Brothers successfully became the lead investor, and Kleiner Perkins KPCB withdrew.

"Can you tell me what's wrong with Jumei? Why did you quit?" Qu Licheng asked. This is his first time in business and he needs to seek advice from professionals.

"In fact, Jumei is quite good in terms of equity structure design and development speed, but the company's management structure does not reassure us. You and Chen Danlin are both young and inexperienced. If you can have a better CEO, even if the price is higher. We are all willing to invest.” A certain person in charge of Kleiner Perkins China Region

"Oh, that's a pity. I hope I can change your opinion in half a year. If the market environment does not change, we will start the next round of financing before the end of this year. You are welcome to visit Jumei again then." will relinquish management rights,

"Okay, congratulations on your successful financing." Kleiner Perkins left

Qu Li only planned to raise USD 30 million at the beginning, which was enough money. He will continue to raise money in the second half of the year. He did not expect the valuation to be so gratifying. It seems that it will exceed the standard, which is great!

"Lehman Brothers wants 20 million shares." Anderson said enthusiastically

"Impossible, this time I will sell up to 20 million shares." Qu Li didn't let him down

"..."

"Why is it too much to give more money?" Anderson asked.

"Jumei's current price of 2.6 US dollars per share is enough, and it will be far more than this price in half a year. Considering comprehensive capital needs, it is enough to sell 20 million shares."

At first they planned to raise 30 million US dollars, and now they have 52 million US dollars, what can't be satisfied. Then the other four also want it, especially Softbank China, which needs at least 5 million shares.

"Are you sure you can help us in Japan?" Qu Li once again confirmed with Kazuki Yamamoto, who came from Softbank from Japan and was in charge of this financing.

"Mr. Sun is very optimistic about Mr. Qu, and told us to help as much as possible. In fact, this valuation has exceeded our upper limit, but Jumei can make a traditional giant like Lehman Brothers..."

"..." Qu Li thought the translation was wrong. What does this have to do with what he asked? He couldn't tell Kazuki Yamamoto that he had a PY deal with Lehman Brothers. No, the PY deal didn't involve Jumei. Could it be that Lehman Is there a conspiracy behind it?

"We have already contacted a company called AKS. Their director, Yasushi Akimoto, is a well-known lyricist in Dongying. He is willing to cooperate with Jumei on Hatsune Miku."

Is this the sincerity of Softbank Zhongguo? The corners of Qu Li’s mouth twitched a little when he heard this. As a pseudo-two-dimensional fan, he still has some understanding of Akimoto Yasushi, the driving force behind AKB48. AKS is a small company. In order to make AKB48 successful, he even sold members to various companies. A brokerage company, once there is a performance task, it will gather together for training. It is said to share interests with other brokerage companies, but in fact it is because he lacks money and resources. AKB48 was soft and romantic at the beginning, which is in line with Hatsune Miku's positioning...

No, what is Hatsune Miku's position? No, everything is left to the two-dimensional lovers to define. After considering the pros and cons for a while, Qu Li still agreed to cooperate with Akimoto Yasushi, let's talk about each other.

In the end, Lehman Brothers won 15 million shares, Softbank 5 million shares, Sequoia and IDG shared 5 million shares, which means that the total financing this time was 65 million US dollars, and Qu Li’s shareholding ratio in Jumei dropped to 52%.

The financing of 65 million US dollars is less than ITAT's 70 million US dollars, but the founder Qu Li is a well-known entrepreneur in the country. A junior high school student raised 65 million US dollars. This is not the Internet rumor that he earned 90 million US dollars .

"A junior high school student opened a Taobao store and raised 65 million US dollars in three years." After Jumei announced the financing conference, Ali Taobao took advantage of the opportunity to market, and a lot of news appeared on Yahoo. This piece of news appeared, maybe it was influence, and Qu Li had such an effect without paying for it.

In the first quarter, Jumei’s sales exceeded 30 million, 65 million US dollars or about 500 million soft sister coins. Jumei’s valuation reached 390 million US dollars and about 3 billion soft sister coins. This is another wave of news.

A week later, the news of Jumei’s financing became less popular, and the news that Qu Li held more than 50% of Jumei’s shares was also spread by insiders. At the age of 21, his net worth exceeded 1.5 billion, and the youngest self-made billionaire was born.

Wave after wave of news bombardment has increased the number of registered users of Jumei by 200,000 people every day. With the support of venture capital, ordinary consumers at least don't worry about the company suddenly running away from Jumei. In addition, Xiangyun and Danlin The two brands have a lot of praise on the Internet, and the quality is guaranteed, giving passers-by consumers more confidence.

Li Liang, the founder of PPG who is far away in Shanghai, obviously doesn’t believe Jumei’s sales data. After so many advertisements in the paper media, he only sold about 10 million in the first quarter. Qu Li from Jumei is too good at bragging.

"PPG's sales in the first quarter exceeded 100 million, and it is expected to exceed 1 billion soft sister coins throughout the year, far surpassing Jumei. It is currently negotiating financing with venture capital..."

"PPG is expected to go public in the US in 2009..."

Li Liang was interviewed in Shanghai, and all the major paper media were building up momentum, thinking that the PPG model is more advanced than Jumei. A junior high school orphan is not as smart as a Chinese-American. Jumei is an online card store, and PPG has no middlemen. Earn the difference in direct sales...

Qu Li took advantage of the hot news about his net worth of 1.5 billion and came to Huxiang Province.