Top of the big era

Ziweixing is now definitely the most profitable Internet company in China.

In the past year, Baidu's revenue was approximately 14 billion yuan. Because Penguin has a gaming business, its revenue is about twice that of Baidu, about 28 billion yuan.

In comparison, Ali is worse.

Ziweixing is the largest, with total revenue of more than 32 billion yuan last year. Because R\u0026D investment is much higher than that of Penguin, the net profits of the two companies should be similar, both around 10 billion yuan.

However, in December last year, a new round of “10 billion subsidy” plan based on the gold coin wallet system was launched, which directly included the entire year’s profits.

Now Ziweixing is already preparing for its launch next year.

This is certain. According to Zhou Buqi’s estimates, when Ziweixing goes public in the United States next year, its market value is likely to exceed US$100 billion. A round of IPO financing can raise at least US$15 billion.

This kind of super IPO case is very risky.

It is necessary to give the market enough confidence so that capital institutions can confidently and boldly buy Ziweixing's shares, thereby smoothly promoting the listing of Ziweixing.

When Changyou went public in March last year and raised US$2.65 billion, it encountered big problems and almost ran aground. At the last moment, Zhou Buqi paid $800 million out of his own pocket to take over the deal, which allowed Changyou's IPO to be smoothly promoted.

The scale of Ziweixing's IPO is too large. If something unexpected happens, Zhou Buqi won't be able to come up with that much cash to take over the deal, which will cause trouble and must be prepared in advance.

Therefore, at this stage, Ziweixing is not suitable to invest in chain companies.

Lianjia is of course a very good project, especially when Beike Home Search is launched in a few years, it will become a giant, with a market value even higher than that of Vanke.

However, that was many years later.

This is an asset-heavy project and the results are relatively slow.

This is rather inappropriate.

In order for Ziweixing's IPO to proceed smoothly next year, it is best for Ziweixing's current investments to choose investments that yield quick results and can be understood by the capital market.

In this way, capital institutions will actively buy Ziweixing's shares next year.

Most people can’t understand investment chain experts at all.

If the Internet engages in asset-heavy businesses, it is easy to be looked down upon by the capital market.

This is a very serious shortcoming that listed companies face.

We have identified a very right direction, but no one understands it, especially the capital market. When we do it, we will suffer huge capital-level risks.

Just like Sohu, if Lao Zhang leads Sohu to transform into making chips... even if he knows that the direction of chips has great development prospects in the future, it will be useless.

Once this is done, Sohu's stock price will definitely collapse.

A company that develops portals still wants to develop chips?

It’s more like committing fraud!

This completely whimsical and unrealistic strategy will cause chaos once it is announced, and the capital market will think that Lao Zhang is trying to transfer funds from the company's accounts outward through this high-tech research and development project.

There are too many such things.

They abound.

Anyway, in high-tech research and development, the probability of failure is 99%. The "R\u0026D funds" were transferred out, and the R\u0026D project failed as expected. If the money in the company's account is gone, it's hard to tell whose pocket it goes into.

This kind of thing is most common in the field of operating systems and chips. On the one hand, it is the call of the state, on the other hand, it is the response of the whole people; on the one hand, it is policy encouragement, on the other hand, it is the guidance of public opinion... When the movement starts with great vigor, it is easiest to take advantage of loopholes.

Even though you have cheated money, everyone will still applaud you and think you are loyal and patriotic. Parallel academicians who repeatedly stand up for scammers will also be called conscientious scientists.

Sohu has no AB share design. Lao Zhang controls the company by controlling the board of directors. But Sohu is listed in the United States, and its shareholders are American capital institutions, so it is not easy to be deceived. When the shareholders unite to initiate a lawsuit against the board of directors, Lao Zhang may be ousted.

For Ziweixing, investing in Lianjia is a good choice.

But it can't be done.

At least not until it goes on sale.

If the capital market does not understand it, it will think that Ziweixing's board of directors sometimes "acts wildly" in decision-making, which will affect the future issuance price.

Once Ziweixing is listed on the market and gets financing from the market, there will be no restrictions.

However, there was no need for Zhou Buqi to talk to these little secretaries about these complicated thoughts.

Zhou Buqi said: "The self-operated model of renting a house is an asset-heavy industry, and the investment is too high. Ziweixing lost 1 billion yuan last year, and the cash flow pressure is relatively high."

Yan Qiqi raised her eyebrows, a little confused, "How could it be? Senior, although the Lian family is self-operated, most of the houses in their hands are rented, and few of them are bought by themselves. They are more of second landlords. character of."

Zhao Li Muge raised his hand and said quickly: "Yes, Lianjia doesn't need any money now. 95% of their houses are contracted and then sublet. In January last year, Lianjia accepted a financing. It seems to be less than 100 million."

Guan Nanqing said: "It is CDH Capital, which invested 94 million, and its shareholding seems to have reached 10%. It is said that Lianjia is short of money now, and CDH Capital is looking for partners to further increase capital in Lianjia."

"Um?"

Zhou Buqi raised his eyebrows.

I really didn’t expect that these little secretaries are really extraordinary. Not only was everything in order, but he was also very considerate and helped Boss Zhou make money.

Yan Qiqi blinked and said quickly: "Senior, if the Lian Family is really a good project, then we should start now. Unless you are trying to coax us, the Lian Family is actually not good at all."

Zhou Buqi smiled and said, "I'm not kidding you, I'm telling the truth. Lianjia is a good project. You have strong learning ability and good vision."

Yan Qiqi said hesitantly: "But now capital institutions seem to be reluctant to give money to Lianjia. Only CDH Capital is looking for ways to help."

"That's because their vision is poor, far worse than yours!" Zhou Buqi did not hesitate to praise them, and then he had some questions, "Huh? How do you know this kind of industry information?"

Yan Qiqi chuckled and said, "I asked Assistant Qu."

Zhou Buqi didn't know, "Assistant Qu? Who is it?"

Sun Wanran on the side smiled and said: "It's Liu Qing's assistant Qu Yuanyang, who works in the investment business."

Liu Qing is in charge of Ziweixing’s investment business.

It is not surprising to learn about the industry situation from her.

Zhou Buqi asked: "Who is talking to Assistant Qu?"

Yan Qiqi and Zhao Li Muge raised their hands together.

No wonder they are the most active.

Zhou Buqi praised: "Excellent, rational use of resources, learning to communicate with others, and getting effective information from others are abilities. In the modern world, sweat, talent, beauty, and luxury cars are not valuable. Effective Information is the most valuable.”

Yan Qiqi felt a little embarrassed, "Sister Wan Ran helped us get in touch, and Assistant Qu didn't dare not help."

Zhou Buqi smiled and said: "The first thing is to find a channel to obtain information, and then find a way to connect with this channel. This idea is a good thing."

Yan Qiqi blushed at the praise, "Senior, then... do you think we should inject capital?"

Zhao Limuge said: "Lianjia launched the A round in January last year, and now it is still increasing capital at the price of the A round. However, the market seems to be very unfavorable to Lianjia's model. Except for CDH Capital, no one else is willing to give money. Assistant Qu said that his immediate boss is not optimistic about the Lian family either."

"Liu Qing?"

"right."

"That's because she's stupid, she's not as good as you."

"Where is it?"

Zhao Li Muge covered his mouth and snickered, extremely happy.

Zhou Buqi said: "Currently Lianjia is mainly offline. It only launched Lianjia Online's online business last year. The asset-heavy model is also contrary to traditional Internet thinking. The investment field is not optimistic about Lianjia at all. Not surprisingly."

Then, he contacted Liu Qing.

After dialing the phone, Zhou Buqi spoke concisely and to the point, "Lianjia wants to raise funds? Increase capital?"

Liu Qing said the same as Zhao Li Muge, saying: "It's a capital increase. At the price of Series A, the company is valued at 1 billion yuan. But now we are encountering some difficulties. The main investor, CDH Capital, can't come up with too much money." But the Lian family can’t find new investors. Now CDH is mobilizing their connections, and they all came to me.”

Zhou Buqi said: "You contact me and I'll pay you."

"Ah?" Liu Qing was slightly surprised. She really didn't think much of Lianjia. "You want to invest in Lianjia? Is this okay? It is a traditional real estate agency."

Zhou Buqi said with a smile: "Isn't it the transition to online business?"

Liu Qingdao: "They launched Lianjia Online, but they lack excellent Internet talents. Their idea is very good, they want to make a housing dictionary and build a nationwide housing database. But they don't have a relevant database at all. Talent. The boss of Lianjia, whose surname is Zuo, has a traditional mindset. All the company’s shares are in his hands alone. Employees will not be given any shares, so who will go to the outstanding Internet talents? He does not understand the meaning of the Internet at all. The Internet Elites are dreaming, not working.”

Zhou Buqi didn't take it seriously, "These are all details. As long as the strategy is chosen correctly, even if there are some flaws in the details, it can be easily corrected. If the strategy is wrong, the ship will turn around. The platform economy must be self-operated. "

Liu Qing was very worried, "Do you really want to vote?"

"This is not a supplement to the A round. The scale is limited and it doesn't cost much money. I will personally contribute the capital. Please contact me and see how much is needed."

Through this incident, Zhou Buqi gained a new understanding of the meaning of the team. I also understand why Boss Ma was able to start Alibaba with a group of crooked melons and crack dates. If he had led a group of elite soldiers and generals, his business might have failed.

In terms of ability and experience, Liu Qing is certainly better than these little secretaries in the office.

However, Liu Qing was wrong in her judgment of the Lian family, but the young, beautiful and vase-like secretaries were right.

Because Liu Qing knows a lot, she has her own thoughts and understanding.

Because the little secretaries don’t understand anything, they have to blindly believe in Boss Zhou. Whatever he says is what he says. He says that the core of the platform economy is self-operation, so it can only be self-operation.

They don't have those messy thoughts, and they don't need to think about themselves.

Just follow the big boss’s thinking.

From this point of view, it is also very positive that personal secretaries have more vases, and beauty is more important than talent.