My Age of Investment

  Chapter 604 Joint venture plan (seeking monthly pass)

  "School Intranet is China’s leading campus SNS social network. It has covered nearly a thousand colleges and universities and has more than 300,000 registered users in the past six months. It is still growing at an average rate of more than 2,000 people every day..."

  In the meeting room on the 36th floor of the Beijing China Merchants Building, Xia Jingxing lay on his back on an office chair, spinning left and right, and casually introduced the development of the school intranet.

  "Only over 300,000 registered users in half a year?"

  In the huge electronic screen, the foreign girl has round eyes and an incredible face.

   "I said earlier that the slow development of SNS in China may be that the model may not be suitable for the local Chinese market."

  Xia Jingxing glanced at the smiling Breyer in his suit and shoes on the screen, "I believe Mr. Breyer has a personal experience of this."

  Brayer nodded, "Yes, in that ancient and magical eastern land, portals, e-commerce, and search can all develop very well, but SNS can't.

  Youyoumi’s failure is enough to explain the problem.

  Social networks in China can reach hundreds of thousands of users, or even millions of users, but tens of millions of users and tens of millions of users are almost impossible.

  After the incident, I carefully analyzed the reasons and came to a few conclusions.

  First, China has an instant messaging software QQ, and they launched Qzone, which cannibalized a large part of the social network market. This kind of bundling makes their users more sticky.

  Second, I judge that Chinese Internet users may not be comfortable with the kind of self-expression in social networks. "

  Brayer spread out his hands, "As we all know, Orientals are more reserved.

  This kind of implicitness leads to social networks not showing all their charms, and their appeal to users is limited. "

  Bill Gates is wearing a red sweater, wearing glasses, smiling and silent, quietly listening to the discussion of several shareholders on Facebook.

  "Daren, what do you mean..."

  Yuri Milner wore a blue shirt that was ironed tightly, and the top of his head shone brightly under the light.

  Xia Jingxing looked at the four major Facebook shareholders on the screen, smiled and said, “Didn’t you always want Facebook to enter China? I think the time is ripe.”

  As soon as he finished speaking, Breyer frowned and asked, "Dalun, I remember you used to be very resistant or did not support entering the Chinese market."

   "I am not very supportive now!"

  Xia Jingxing straightened up, stretched his waist, looked at the big screen, with a solemn expression, "The reason why I asked you to hold an online video conference today was mainly because I encountered a suitable opportunity."

  "School intranet is the right opportunity? They only have more than 300,000 users. This number is not worth mentioning compared to the population of China."

   Christina's pair of blue eyes, with a hint of smile, looked straight at Xia Jingxing.

  According to her understanding of Xia Jingxing, this matter may not be that simple.

   "Kristina is right. The number of users on the school intranet doesn't explain much, nor does it see a particularly large investment or acquisition value."

  In Breyer’s perception, Chinese SNS is a pit, with a large population, but it is impossible to create a potential company like Facebook.

  Xia Jingxing was relieved when he heard this, and said with a smile: "So, I just said that I am not very supportive of entering the Chinese market!

  But if China is such a big market, if you just give up like this, it is indeed a pity, and some are not reconciled.

  Now that the school intranet is experiencing difficulties, this actually gives us a chance.

  It’s just this opportunity. It can only be called an adventure. If it succeeds, it is of course the best; if it fails, there is not much loss. "

  "How much is the valuation of the school intranet?"

  Milner nodded. He doesn't have much opinion. With such a big market in China, it is a pity not to try.

   "It's not expensive, it can be done with a few million dollars."

  Milner smiled and said, "That's not high, I think I can try."

  With Milner taking the lead in expressing his stance, Breyer and Yang Niu also voiced their support.

  It’s just a few million dollars, it’s not worth too much care.

  Bill Gates finally spoke, “I also support that China is a promising land. Facebook should not miss this emerging hot spot of the Internet. It should try a few more times.”

  Seeing that several shareholders agreed, Xia Jingxing raised the next topic.

   "For the acquisition initiated by the school intranet, Envision Capital will also participate."

  Brayer wondered: "Why? Darren, Facebook is not without money, and it can afford this insignificant loss.

  Currently, the countries where Facebook enters and the local branches are all wholly-owned by Facebook.

  Even in Russia, this is the case. Is it necessary to set this precedent in China? "

  Milner nodded in agreement, “Yes, you can’t open this mouth casually. Facebook, as a global social network, cannot lack the important market of China.”

  The foreign girl looked calm, but in fact she basically guessed the purpose of Xia Jingxing in her heart, and she was fooling the shareholders.

   "Daren, you just proposed to let Facebook enter the Chinese market. Why do you allow Envision Capital to step in?"

  The old and cunning Bill Gates helped his glasses, "As you just said, this is an adventure, and the chance of failure is quite high.

   Facebook can withstand the consequences of failure, you don’t have to pull in the vision capital to diversify the risk. "

  The old man Gates paused, looking at Xia Jingxing meaningfully, and slowly said: "Unless, you think there is a lot of hope for success!"

   Upon hearing Gates’ words, both Breyer and Milner reacted quickly.

   Especially Breyer, his eyes kept rolling, he knew that Xia Jingxing never made a loss-making business, this matter inside and out, revealed a little strange.

  Xia Jingxing laughed, "Mr. Gates, you are too worried.

  Why did I leave Facebook in the first place? I believe you should be very clear about the reasons.

  Do you think Facebook can wholly acquire the school intranet? Even if it is approved by the relevant department, there will be many problems in the actual operation process in the future. "

   Gates frowned. He has had many dealings with the government of the Rabbit Kingdom. He knows that although it is open to the outside world, the opening is based on the rhythm, the order, and the development of the industry.

  Don’t say anything else, just say the "Internet Great Wall", which has been officially launched for several years, which shows that the country of Rabbit pays attention to and guards against the network industry.

   "Then Darren how do you want to arrange?" Gates asked.

  Xia Jingxing smiled faintly, “Vision Capital invested 60%, Facebook invested 40%, and everyone jointly purchased the school intranet.

  If the school's intranet is running well in the future, you can try to cooperate with Facebook in many ways. "

   Gates shook his head, "Less, I think 50% of one party is better."

Breyer echoed, "Yes, Darren, you are the majority shareholder of Facebook, holding 51.64% of the shares in Facebook. Even if each party holds 50% of the shares in the school intranet, after the equity is penetrated, you will It is still the biggest beneficiary and the ultimate actual controller."

  Xia Jingxing currently personally holds 31.64% of the shares in Facebook, and another 20% of the shares have been transferred to private companies registered in offshore islands. After layers of nesting, they are put into the Shushu Fund of Funds.

  These operations can only paralyze some outsiders, and Breyer, as a shareholder, knows a lot of the inside story.

  Xia Jingxing smiled, "Is penetrating equity useful? Facebook is not in my control, ownership and management rights are separate.

  If both parties hold 50% equity of the school intranet, it is really ambiguous.

  In this way, Vision Capital holds 51% of the shares and Facebook holds 49%. In terms of actual equity, the two parties are similar.

   But in the eyes of the upper-level people, the school intranet is still a Chinese-funded Internet company. "

  Bill Gates thought for a while, then nodded in agreement.

  A company with a valuation of several million dollars, he can spend so much talking, it is already an exception.

   And he is not very optimistic about the follow-up development of the school intranet.

  Since 2003, China's SNS has been developing for three consecutive years. No company has made a name for itself, and its valuation is less than one-tenth or one-tenth of Facebook's.

  Gates let go, Milner and Breyer did not insist, nodded and agreed to the plan.

  Only foreign girls, her eyes flickered, as if she could see something.

  As soon as the video conference ended, she dialed Xia Jingxing’s private number.

   "Are you hiding something from me?"

  Xia Jingxing smiled, “Don’t come up and put on such a big hat, who can be sure to make a big break in Chinese SNS?”

"you can!"

  The voice on the other end of the phone was a bit firm.

  Through these simple three words, Xia Jingxing heard the foreign girl's worship and confidence in herself, and she was still a little proud in her heart.

   "I can only say try, maybe the first name will be ruined on this."

"I believe you!"

   "Since you have said so, then I can only work hard!"

  ……

  (End of this chapter)