My Age of Investment

  Chapter 502 Squeezing out value (seeking monthly pass)

   "Lao Zhou, since you are so frank, then I will tell you the truth."

  Xia Jingxing sighed with a heart-wrenching look, "With Qihoo's current situation, just a concept of community search, I want to support a pre-investment valuation of 20 million US dollars. This offer makes me very embarrassed!

  Some time ago, Envision Capital’s investment in Penguin lost more than 1.2 billion yuan. You should have heard of it too?

  Many people in the investment circle are watching our jokes, saying that I act aggressively, and just point to the nose and say that I am making a few foolish investments. "

   Zhou Hongyi had a smile on his face, as did Qi Xiangdong.

  Vision Capital throws billions of Hong Kong dollars at Penguin, and it has a loss of 1.2 billion. They have naturally heard about it.

   also because of this incident, let the two see Xia Jingxing's "people are stupid and have a lot of money", thinking about coming to fool each other to eat the grass.

  After all, if you lose more than a billion yuan without blinking your brows, can you throw Qihoo tens of millions into trouble?

  Xia Jingxing glanced at the two of them and continued to flicker: “Because of this incident, the investors behind Envision Capital are very dissatisfied. Although I believe that Penguin’s stock price will rise back sooner or later, the investors don’t believe this. They only look at the fund performance report.

  There is no way to offend anyone, and you can’t offend the God of Wealth behind it, right? "

  Listening to Xia Jingxing’s long talk, Zhou Hongyi and Qi Xiangdong both had no choice but to nod their heads politely.

  It is not clear to them who are the investors of Vision Capital.

  In fact, most people in the industry speculate that Xia Jingxing may have provided a lot of money to several funds of Vision Capital, but it will definitely not be all.

  Because the financial investment is very risky, no one dares to take such a radical risk and play with their own money.

  Financiers who have the ability to make money from other people's money.

  Xia Jingxing said these words, the two did not have too much doubt.

  I lost more than one billion yuan when they came up. They felt that the LP of Vision Capital might have torn Xia Jingxing's heart.

  Even if the prospective capitalists have a big business and the scale of asset management is as high as 30 billion Hong Kong dollars, they cannot withstand such a loss method.

  Xia Jingxing's face is heavy, "So we are now shrinking the line of defense, changing some investment strategies, and starting to fight steadily."

   "Mr. Xia, Qihoo wants to raise 10 million U.S. dollars. This amount shouldn't be a big deal to Vision Capital, right?"

  As soon as Zhou Hongyi's voice fell, Xia Jingxing waved his hand, "If it was before, the problem is not big, now the situation is different."

   Seeing that things have not progressed, Qi Xiangdong secretly got angry and interjected: "Mr. Xia, just tell us, how much value can you give us?"

   "Ten Million Dollars!"

   Hearing this number, Zhou Hongyi shook her head sharply, “It’s impossible. If it’s 10 million dollars, we might as well promise you a few months ago.”

  Xia Jingxing was happy, "Then tell me, what has Qihoo done in the past few months? It proves that the search industry is not easy to do?"

Zhou Hongyi put down the wine glass in his hand, frowned, sternly, pretending to be unhappy, "Mr. Xia, if you say that, it's boring. Although Qihoo hasn't achieved much, it's still a little bit small? "

  Xia Jingxing shrugged, “I said earlier that searching for the track is risky. It’s not more risky than other industries. Investing in Qihoo is equivalent to walking a tightrope with you.”

   "Venture investment, the name carries risks. It is impossible not to take risks at all, right?"

  Seeing that Xia Jingxing bargained so fiercely, Qi Xiangdong began to help.

  “The risks can be large or small, such as Tudou.com. I like it best. It has a successful reference in the United States, and it is the first online video website in China.

  Qihoo? Baidu has been established for six years, and it will be the seventh year soon. The pioneers are no longer there. If you want to get things done, you must put in more effort and the risk has increased exponentially. "

  Xia Jingxing said that it is very realistic, regardless of how bright the future of Qihoo is, but at the moment, the risks of entrepreneurship and investment are not generally large.

   Zhou Hongyi sold 3721 for 120 million U.S. dollars, and most of it was given to the angel investment agency IDG and the A-round investment agency Jifu Asia. He himself made only 30 to 40 million U.S. dollars in profit.

   Said that he is rich, and indeed he is rich. The past two years have been spending money everywhere to make angel investments.

  He has invested a lot in Qihoo, and if he continues to increase investment, it is tantamount to taking risks with his own money.

  No one is 100% sure of starting a business. It must be that venture capital's money is more comfortable to use. It is all out of pocket. Zhou Hongyi is reluctant.

  So, this is also the reason why Zhou Hongyi has money, but he still has to look for venture capital.

   Zhou Hongyi now knows that the young man in front of him is not easy to fool, and after thinking about it, he said, “Mr. Xia, Sequoia will offer us 15 million U.S. dollars, and Vision Capital must give us at least 16 million U.S. dollars, right?”

"Can!"

   Zhou Hongyi and Qi Xiangdong were overjoyed when they heard the words. They were about to answer, but they were blocked by Xia Jingxing’s words, "But I also have a condition."

  Xia Jingxing glanced at the two of them, "Add a pair of bets."

Zhou Hongyi and Qi Xiangdong looked at each other, and both shook their heads.

   "A gambling agreement is impossible to sign."

   Zhou Hongyi is also an entrepreneurial veteran, and he will not be stupid to sign this kind of thing. His originally somewhat joyful mood quickly sank to the bottom.

  Fu Jixun said: "Large financing, especially when the company's development is not clear, signing a gambling agreement is the norm.

  We will not set those terms that are too high threshold. It is meaningless. We will only set the listing time and fulfill the obligation of stock repurchase if the listing is not successful. "

  Qi Xiangdong looked kind, and said in a negotiating tone: "Mr. Xia, Sequoia and none of them asked us to sign a gambling agreement. You made this request. Isn't it embarrassing us?"

  Xia Jingxing smiled and didn't smile, ignoring the faint threat in the other party's words, and glanced at the leftovers on the table, "Really? The business is not righteous, so let's come here today, thank you for your hospitality."

  After finishing speaking, he quickly got up, and Fu Jixun also got up.

The two were about to turn around and leave. Zhou Hongyi stretched out his hand and stopped him, "Wait, President Xia, if you don't sign the gambling agreement, can you? We can compensate in other places, such as the next round of financing for Envision Capital. Vote."

  Xia Jingxing stopped, he knew that Zhou Hongyi would definitely stop him this time.

  For Qihoo, they had taken the pulse before they came.

  Compared with the complacency and eagerness to search the track a few months ago, Qihoo at this time does not say that it is full of heads, but the development is not as expected.

  Venture investment institutions are investing in the future. Looking at Qihoo, few institutions are willing to pay the money easily.

  Although it is not clear whether Sequoia and the others have made a gambling agreement for Qihoo, they guess that there is a high probability.

  Combined with this temptation at the dinner table, he is basically 100% sure that Sequoia and the other institutions must have imposed harsh conditions on Qihoo.

  To change to the previous Zhou Hongyi, when I heard the right bet, I was afraid that I could learn from Brother Crow and lifted the table, thinking it was an insult to him.

  Are you not sitting honestly now?

  People, especially some unruly people, will become honest only when they recognize the reality.

  And he likes to slowly concoct these thorns.

  Negotiating with Laoyouzi, the same truth as Boying, compares patience and perseverance.

  Today, he tried all sorts of things, just trying to wear off the other's patience a little bit.

  Now Zhou Hongyi has retired and then retired, and has taken the initiative to sign the alliance under the city.

  His goal was basically achieved.

  Xia Jingxing gave Fu Jixun a wink, and the two slowly returned to their seats. The former said lightly, "What about the investment amount?"

  "No more than 10 million U.S. dollars, we only raised 4 million U.S. dollars."

  Xia Jingxing smiled and looked at Zhou Hongyi. This AK47 is really stubborn. It's all here. The fighting will is still very strong, and he wants to bargain with himself.

  He has been in the business for so long, including his personal investment, he has been in the business for nearly two years, and he has met and talked about no fewer than dozens of entrepreneurs.

  Except for Jack Ma, this week is the most difficult to deal with in red.

   "We either don't vote, or we vote 10 million."

  Xia Jingxing had a tough attitude, staring straight at Zhou Hongyi, he had already eaten the red cannon, and the opponent's hole cards had all been read, so he was not afraid of the other party playing any tricks.

   Zhou Hongyi snorted, and just about to speak, he was kicked under the table by Qi Xiangdong, who was already sitting on the side.

  Qi Xiangdong grabbed the right to speak and smiled and said: “Mr. Xia, we originally wanted to raise 10 million US dollars at a valuation of 20 million US dollars, diluting 33.33% of the shares.

  Now that the valuation has dropped, the amount of financing has only dropped. How about 8 million US dollars?

  This is the first round of financing, and you also have the right to lead the next round of financing, which will be long in Japan. "

  Xia Jingxing thought for a moment, then nodded and said "OK".

  I have almost got everything I should get, too much.

But he quickly overthrew the point of view he had just thought in his mind, smiled and looked at Zhou Hongyi, a tool man who had not drained the use value, and asked: "I heard that you have invested in a lot of companies in Lao Zhou, like Cool Dog, Thunder, Discuz..."

  (End of this chapter)