Sprinkle coins every day

In addition to IPOs, there are other listings on the New Third Board, backdoor listings, etc.

The truth is similar.

In addition to listing, if the invested company is favored by other companies and acquired by other companies, then the investment institution can also take advantage of the opportunity of mergers and acquisitions to withdraw.

You can also get a lot of money.

In addition to listing and mergers and acquisitions, if investment institutions want to exit, they can only hope that the management of the invested company will buy back or transfer the equity they hold to other investment institutions.

It's just that it will be very troublesome in operation, and the income is not as high as going public.

But anyway.

As long as the invested company develops better than before receiving the investment, it has the opportunity to exit.

On the contrary, if the performance of the invested company is worse than before accepting the investment, it is almost tantamount to declaring that the investment has failed, and the only way to exit is to liquidate and stop losses as much as possible.

Although liquidation exit is the least willing to accept by investment institutions, it is also the most common exit method in the investment circle, so it is said that investment is betting.

Investing in a hundred companies, if three or five companies are successful, it is considered a good vision.

If you can bet on super unicorns such as Ali, Tengda, Character Jump, and Wujiang Technology among thousands of investment targets, then you have found a treasure.

One hit wins it all back.

The most typical examples are Ruanjin’s investment in Ali and Minade’s investment in Tengda.

They can all be called the chosen ones.

"For example, for the investment in the smart phone industry chain, you can set a three-year investment period. After reaching or approaching the investment period, once the conditions are ripe, you can decisively choose to withdraw."

Calculated according to this time limit, investments in the smart phone industry chain can be gradually withdrawn next year.

"If it is a core supplier, or a supplier with a solid technical foundation and a large scale, you can also consider extending the investment period appropriately, for example, to five years."

"On the contrary, for those investment targets that are not well developed, poorly managed, or misunderstood, there is no limit on the investment period, and it is necessary to decisively exit through liquidation to recover as much residual value as possible."

This is actually a minority among the targets of Germinal Investment.

One, whether it is in the smartphone industry, or the semiconductor and new energy vehicle industries, the companies under Sprout are all playing the role of industry leaders.

No matter how bad the suppliers that can be selected by Germinal Investment, they will not be so bad.

The second is that during the investment process, Zhang Shuo, the big boss, is still in charge. Combining the memory of the original time and space, he tries to avoid lightning and step on pitfalls as much as possible. The probability of success is naturally much higher than that of ordinary investment institutions.

Let alone say.

The previous investment in Wujiang Technology and Linde New Energy can be called the "son of heaven".

"Similar operations are also applicable to the semiconductor industry and the new energy vehicle industry."

"Even the software industry."

"And for those companies that focus on the future, such as research and development of artificial intelligence, they can set a longer investment period, such as ten years, or even longer."

Lu Kai's thinking is obviously very mature, not a temporary idea.

"sure."

Zhang Shuo glanced at Lu Kaigao after listening, "Your idea is very good, and I also support it."

Even if the family business is as big as a budding investment, it is impossible to say that just endless investment without an exit mechanism, the crowding out of funds will be very terrifying.

and.

Strictly speaking, only a successful exit can be considered as a round of investment.

Only by investing in new companies while withdrawing from successful companies, thus forming a virtuous circle, can we continue to invest in this matter.

It is also a role that capital should play.

.........

As December comes to an end, time has entered 12 years in a blink of an eye.

This year, the development of mobile Internet will also enter a new era. Whether it is 4G network or smart phone, it will become more and more popular and begin to enter thousands of households.

According to incomplete statistics, China's smartphone sales in 13 were 3.45 million units.

The sales volume in 14 is expected to exceed 3.9 million units.

In other words, China's smartphone holdings are expected to exceed [-] million units.

How big is this market?

As a result, Sprout's games, social networking, online advertising, e-commerce, local life, mobile phones, semiconductors and other businesses will all benefit from this wave of growth.

Even if it's just maintaining the "status quo," revenues are expected to double through organic growth.

It is not difficult to understand why in the 13-18 years of the original time and space, in just five or six years, the two giants of Ari and Tengda have ushered in a wave of rapid growth in terms of revenue, net profit, and even stock prices. .

It is because of the dividends of the times.

In this life, there is no doubt that the Germination Group will become the biggest beneficiary.

This is why Zhang Shuo will place more emphasis on fulfilling corporate social responsibility at the previous joint meeting of presidents, because half of the budding success is due to his own efforts, and the other half is the achievement of the times.

It is natural to give back to the society.

In addition to the sharp increase in the number of smartphones, the performance parameters of smartphones have also risen all the way, which in turn has promoted the new development of short video, live broadcast and other formats.

It has created another brand-new outlet for the mobile Internet.

And Germination has completed the layout of Magic Sound Technology before the arrival of the trend, ensuring that the Internet business under Germination can always be at the forefront of China and even the global market.

From a chaser to a leader.

And after 14 years, another major Internet event is about to happen, that is, after the group buying war, the takeaway war, and the shared bicycle war, the most hated and fiercest taxi war that burns money.

Compared with the original space-time.

In the field of taxi-hailing in this life, there are extra giants like Qingcheng Group. They have been in the field of taxi-hailing for more than half a year, and they have gained a certain market share by virtue of their natural platform advantages.

Qingcheng Taxi is enough to rank in the top three.

Note, just the top three, not the unassailable champion.

Because long before Qingcheng Group launched its taxi-hailing business, a large number of players such as Didi, Kuaidi, and Yidao had already ended up in the game. In this field, it is life and death.

How dirty are these taxi companies playing in order to compete with each other and rob users?

Take Tick Tock, the most rogue among them, as an example.

In the past year, in order to promote its own taxi-hailing software, Tick did everything possible.

For example, once Shake chose to advertise on the radio, inviting the driver to the hotel to participate in offline activities and install the software on site.After the founder of Tick found out, he arranged for someone to rob the driver in the parking lot of the hotel, added his phone number behind the advertisement on Shake, and installed Tick software for the driver.

The driver didn't understand so much, so he installed all ticks in a daze.

This trick of borrowing flowers to offer Buddha was not only used once by Tick Tock.

After ticking, it competed with Baimi Taxi. In order to solve the problem that drivers do not have smartphones, Baimi Taxi installed a customized tablet for the driver and equipped it with Baimi Taxi software.

Tick ​​Tock sent engineers to flash the driver's tablet in the name of "maintenance", install the Tick Tock taxi software, and insert a horizontal line from it.

The competition with enterprises is still a small scene, and Tick has also achieved "policy at the top and countermeasures at the bottom".

At that time, the government demanded that black cars be prevented from entering the venue. Drivers must have a service supervision card to register for online car-hailing. Tick tried to find a way to obtain the card number from the taxi company and provide it to the registered driver.

As for the identity of the driver, ticking doesn't care.

The official request is not to allow the launch of the fare increase function. Tick Tock pretended not to see it and secretly used the fare increase function, but changed its name to "dispatch fee".

These unscrupulous practices made his colleagues hate it, and scolded Tick as a hooligan.

Now it seems that it was Tick's hooligan temperament along the way that laid the groundwork for his later slapping, which is exactly what he said - "If you come out to play around, you will have to pay it back sooner or later!"

In addition to the rogue temperament, Tick has lacked awe and respect for technology since its birth.

The original software was even made by an outsourcing team. The other party offered a price of 15, but was cut down to [-] by Tick. As a result, they turned around and outsourced the work to a technical secondary school teacher.

It can be seen that the middleman earns the price difference, which is not ambiguous at all.

Fortunately, this technical secondary school teacher is still paid to work, and he takes a few students to learn while doing it. Although there are many bugs, it can be used anyway. Calling the car 10 times, it can ring 6 or 7 times.

It's really ironic.

But such a company, in the past year, has actually started to emerge in the Internet field, relying on rogue-style marketing and local promotion, it has forcibly made a bloody way in the taxi-hailing market.

I don't know whether to be happy or sad.

The most absurd thing is that the script of the story was written and this was just the beginning. Around May and June of 13, the two giants, Ari and Tengda, also began to pay attention to the taxi-hailing field.

After that.

It’s just that Ari invested in Kuaidi, and Tengda invested in Tick, and they unknowingly went to confrontation.

On the contrary, Ahri Dianping and Nomi Dianping were too busy with food delivery subsidy wars and bike-sharing wars to care about the taxi-hailing business. Instead, they did nothing.

When the two companies are integrated into Arnold Group, there is no chance for Arnold Group in the taxi-hailing field.

But Ari and Tengda didn't seem to care.

The reason is also very simple. After the integration, the Ali Group is jointly controlled by the three giants, while the two taxi companies, Tick Tock and Kuaidi, are controlled by them separately.

If you do well, you might be able to rule the world.

This also laid the biggest foreshadowing for the upcoming battle of taking taxis and burning money.

No.

In a sense, the taxi war has already begun.

Just in the past December, Zhifubao announced its cooperation with Kuaidi Taxi. Passengers who use Zhifubao to take a taxi will have the opportunity to get a single free order of up to 200, or a cash back of 5 yuan.

The New Year’s Day holiday has just begun, and Kuaidi then announced that new users of Jingshi who use Kuaidi taxis for the first time will get a refund of 30 yuan.

The activity will last for one month, and the total investment is expected to exceed 1 million.

You must know that Jingshi is the place where Tick started, and it is also one of the markets that Tick focuses on. Kuaidi’s subsidy promotion in Jingshi is undoubtedly pointing the sword at Tick.

With the backing of Tengda behind him, it would be strange to be able to hold back and not fight back.

Although it is said that Tengda and Ari are deadly rivals and have reached a consensus on the merger of the Arnold Group, it does not mean that the two can really settle down.

There are still many places to compete in the future.

.........

Regarding the upcoming taxi-hailing war, Zhang Shuo of course chose to sit on the sidelines.

Just watch the excitement.

On New Year's Day, Zhang Shuo came to play chess with Mr. Tang again, and his second uncle was also there.

"I heard that this time, the Germination Group subscribed for 10% of the shares of Huaxia Microelectronics in one go, financing the B round of Huaxia Microelectronics, and solved a big problem?" While chatting, the second uncle Tang Yi talked again It's business, probably a professional habit.

There is no real free time.

"It's not a rescue, it's because Germination is optimistic about the future of Huaxia Microelectronics." Zhang Shuo also told the truth.

"Oh?"

Tang Yi was even more surprised, "Mr. Ya really thinks that Huaxia Microelectronics is worth 500 billion yuan? I heard that many investment institutions chose to withdraw because Huaxia Microelectronics' valuation was too high."

"That can only prove that these investment institutions are not good enough." Zhang Shuo was a little arrogant, and said with a smile: "Second uncle, think about it, according to common sense, China Microelectronics should not be short of money after the last round of financing. "

"Even if there is a shortage of money, it is not enough to say that we will raise 450 billion in one go."

"Dare to spend such a large amount of money, either Huaxia Microelectronics is preparing to cheat investors' money, or it has made a key breakthrough in technology research and development, and continues to use funds to realize related technologies."

"Compared to the former, I certainly believe in the latter."

Although Zhang Shuo knew the answer a long time ago, this set of rhetoric can be justified.

"The truth is such a truth, but the problem is, such an uncomplicated truth, is it impossible for other investment institutions to figure it out?" Tang Yi is not easy to fool around.

Zhang Shuo said with a smile: "Of course they can figure it out, but they don't have the courage to gamble."

Between the words, there is arrogance.

"That's true!"

Tang Yi was also relieved, "Not everyone has such strong financial strength as Germination."

That being said.

But Tang Yi actually has another layer of speculation, that is, the Germination Group, or Zhang Shuo to be precise, dared to bet on the future of Huaxia Microelectronics in this way. It is said to be a big gamble, and it probably has a hint of funding.