City: From Inheriting a Courtyard To a Giant

“Sequoia Capital announced that it has joined:..

The people in charge of Live Capital began to scramble to express their views.

Behind Qin Yan, Yang Tao, who didn't know much about finance, was probably the only one who was confused. He didn't understand the communication between these men at all. It seems a little inexplicable to her

Just now, he acted like he was going to leave if he disagreed with each other.

The situation, why has the speed changed so suddenly. _

The change is too fast.

Ah Xiang looked at Qin Yan, and said first

"Mr. Qin, I know how much money you want in this round? How many shares to sell? Tell me a number, and we will discuss it later.

After Ah Xiang presented the agreement to lead the B round of investment. No one else spoke - and there was no dissent.

With the previous foreshadowing, everyone in e has learned the strength of diligence and thrift. They are now waiting for Qin Yan to set out their own conditions. Anyway, when the time comes, they will always have to negotiate a price that both parties are satisfied with. say now

The words are the same.

They are also convinced that when they meet such a founder, they don't want to control the company, and they don't invest money at all.

Qin Yan nodded, speaking concisely. "The overall valuation of Hongmeng Pan-entertainment is 0 billion U.S. dollars, and 1-5% of the equity is sold. I want to raise _ billion U.S. dollars."

. "..."

In the conference room, all the heads of twenty major Tujia investment banks were silent.

No one dared to underestimate the young founder in front of him.

A valuation of 130 billion. This is thick with their internal accounting

The highest valuation will exceed 100 million. Wall Street's general valuation of Hongmeng Entertainment is around US$1.8 to US$100 billion.

Qin Yan's offer. Let everyone feel a pang of regret. They missed out on the most precious angel round investment. It may be too cheap to let Ziguang. The least money is paid and the most earned.

Originally they had this opportunity. But from the very beginning, the financing price was not negotiated. If Hongmeng had given a valuation of US$2 billion without hesitation in the early days of Hongmeng's business, I am afraid that Hongmeng at that time would not have refused. Already earned it

so angry

At the beginning, Tsinghua Unigroup got 1.4 billion US dollars

to a 14% stake. Now 100 million US dollars to sell 15% of the equity.

But having said that.. just talk about the price to a valuation L of 0 billion US dollars and then enter the pit. Not at all too late.

According to the current development trend of Hongmeng. The valuation will only get higher and higher. It is very likely that there will be no more C-round financing, and it will probably be listed at the end of next year. By then, there will be no way to think about the A market.

At that time, I want to get the same proportion of outstanding shares. It is not this number, but several times more. And the risk is several times higher.

With the sale of 15% of the equity this time, _Qin Yan's equity will drop to 70%

% below. The equity of the original shareholders will also be diluted again accordingly.

Tong Qin Yan also proposed that the company should not have a board of directors and a board of supervisors before going public.

Sun Zhengyi exchanged a few glances with the heads of several major investment banks. He was about to start a new round of negotiations.

Suddenly, the white old man in the corner r good actor Howard Stark said, "Stark Capital agrees with your company's valuation. If Tsinghua Unigroup is thinking about it, Stark Capital is willing to lead the investment."

"You..." came the sudden voice. Sun Zhengyi, who has been on the battlefield for a long time, couldn't help being a little stunned!

It's so easy to agree!

This is too much.

You should bargain over the price anyway, there is a difference of 100 million U.S. dollars_Ke L

The old actor spread his hands. The smile was full of gentlemanly demeanor, "I am really optimistic about the development potential of this company, don't you think so?","

At this time, Ah Xiang suddenly smiled and said 1 Mr. Stark has a very strategic vision. The same is true for us at Tsinghua Unigroup and we do not want to give up our right to lead the investment. "

Seeing that the two major investment banks have already agreed to a valuation of 0 billion, they are a little bit hesitant.

Softbank can't sit still. Sun

Justice Road. If you hesitate again, if you can't even drink soup, "I agree with this valuation and I am also willing to invest.

0____ fresh

If there is no board of directors and board of supervisors, I can also agree. But I have a requirement. "

Qin Yan, _"Mr. Sun, please tell me."

Sun Zhengyi said, "I noticed the group work, but I found that your company's option term seems to have not been established.

Generally speaking, startups have to build an option pool before their first round of financing. It is used to recruit talents for the company's future development. The option pool includes your founding team and Tsinghua Unigroup

Capital out.

After completing the construction of the option pool, we will carry out the B round of financing and share expansion.

"Why do I have to take out a part of the shares as an option pool... I completely forgot at the time, and now I have lost a lot."

Ash's eyes widened.

The others laughed straight away, not believing it at all.

They do know that Ziguang has the back of the Tang court, and that Hongmeng and Hongmeng simply wear the same pair of trousers.

Qin Yan nodded directly when he heard the words, "In fact, the company has decided to set aside 50% of the equity as an option pool, but the voting rights enjoyed by this part of the options are up to me.

Hold on behalf of others. "

On this point, all investors have no opinion.

In fact, at the time of the first round of financing for a start-up company, it is necessary to set up an option pool for recruiting talents in the future. However, Qin Yan did not carry out angel round financing at all. Even the A round of financing. In his eyes, Ziguangyuan came to give money. He didn't mention it at all. Now Ziguang has to take out two parts of the 14% equity. _Entered the option pool.

After agreeing to the valuation, the matter of the option pool was settled, and the next negotiation became very smooth.

In just half an hour, the two parties reached a consensus

. With a clear result, on the basis of Tsinghua Unigroup's leading investment, the equity structure after the B-round financing of Hongmeng Pan Entertainment was quickly determined.

After completing the b round of financing, the company's shareholding structure ratio is,

Option pool reserved. 12.27__