I was reborn and stayed in school to lie down. I really don’t want to roll anymore!

Although Lu Weiming answered subconsciously, it was quite coincidental that his answer was consistent with theirs.

"Okay, let's agree that the shares to be sold will be 15%-20%. The exact amount will depend on the amount of funds and valuation."

"Professor Zheng, does Yifan Investment have a rough estimate of Totoro Live?"

When it came to valuation, Mr. Zhang first asked Professor Zheng, who is also a professional in the industry.

Mr. Zhang didn't have much hope for Jiang Hao's ability in valuation.

Otherwise, their company wouldn’t have been able to gain such a big advantage in the last round.

"I have confirmed with several people from the follow-up team that they have estimated the value based on the current number of users of Totoro Live, including the average number of daily active users and other data."

"Combined with the current development prospects of the live broadcast industry, the final post-investment valuation is set at around RMB 10-12 billion."

"S~!"

As soon as Professor Zheng finished speaking, Lu Weiming couldn't help but make an uneasy sound.

Seeing that everyone's eyes immediately turned to him, he quickly apologized with an embarrassed look on his face.

"Sorry! I just ate too many oranges and my teeth are a little sore! Let's continue!"

After finally concentrating and listening for a while, I heard Professor Zheng's valuation.

Thinking about his own shares, Lu Weiming found it difficult to keep calm for a moment and made a fool of himself in front of everyone.

It’s not that Lu Weiming has never seen money before, he behaves even more uneasy than Jiang Hao.

The truth is that Lu Weiming has really seen money and earned money, so he knows what it means to earn so much money.

After this wave of valuation financing, the valuation of his equity was almost catching up with the money he had saved from the liquor business in the previous two years.

You should know that this equity was originally obtained from the 200 million invested last year.

In less than a year, the stock price has increased dozens of times. Thinking about the possible C round and listing in the future, Lu Weiming is getting more and more excited!

Maybe the seven or eight years of liquor business I have been doing before will not be as much as what I can earn in the future from this investment.

Jiang Hao wasn't actually very calm at the moment.

After the A round of investment, Totoro Live’s valuation was around RMB 1.4 million.

He himself is relatively conservative in his valuation of Totoro Live, thinking it could be at least RMB 7-8 million.

Who knew that Professor Zheng's first words would increase Jiang Hao's inner valuation by nearly 50%!

It turns out that his appetite is too small!

"Boss Jiang, have you ever made an estimate?"

"Professor Zheng and I have similar ideas, about 12 billion."

Seeing that Mr. Zhang was asking about him, Jiang Hao pretended to be calm, as if his judgment was similar to Professor Zheng's.

In fact, he just copied Professor Zheng's homework and asked for a high price based on Professor Zheng's work.

He can also talk about the company's development, including some specific functions and future development directions.

But if you ask him to give a specific valuation of the company, the level is much lower and relatively conservative.

Fortunately, this time Professor Zheng gave him a sample, which gave him room to consider.

"No! I think this estimate is too low."

Mr. Zhang refused decisively at this moment.

"Professor Zheng, and President Jiang, I think you have overlooked the current appeal of the international live broadcast industry?"

"The Twitch platform is also discussing the next round of financing recently, and the estimated amount of financing is more than 2000 million US dollars."

"The monthly active users and monthly unique IP addresses of their platform are larger than those of Totoro Live, but the number of people online at the same time is not as high as that of Totoro Live."

"Taking into account the current prospects and trends of the live broadcast industry, I think a conservative estimate of more than 3 million US dollars is more appropriate."

"Sigh~"

This time it was Jiang Hao's turn to feel a little uneasy.

I took a deep breath and tried my best to calm the excitement rushing up in my head.

Three hundred million U.S. dollars, at the current exchange rate, is equivalent to nearly 20 billion RMB.

It has to be a top-level investor! They really dare to ask for a high price!

With this valuation, I guess Twitch isn’t much higher than theirs!

Remember, it’s only been 12 years!

It is not the period around 14 years before the rebirth when many investors were chasing after it in the market.

If he had really started financing at that time, he would have dared to ask for a high price, and even felt that US$3 million was too low.

But that time has not come yet, even though the entire domestic live streaming track has gradually flourished with the rise of Totoro Live.

However, the only ones that can be shown off are still Totoro, YY, and Huya, which has just been launched under YY.

In the live streaming market, if we take profitability into account, their Totoro Live is still not as good as YY Live overall.

Just looking at the volume of traffic, it has surpassed YY Live.

Especially in the field of game live streaming, it has become a giant.

But based on this point alone, if Jiang Hao wants to get this valuation this year, he cannot estimate it by himself.

If this price is really followed, then their Totoro Live Broadcast can be regarded as the official start of the craze in the domestic live broadcast industry!

It can be predicted that other small live streaming companies will also see a steady influx of hot money from investors, and the valuation model multiples will begin to grow wildly!

"Three hundred million US dollars? If Tencent really has a strong intention to invest in this direction, then it's not too high."

"But regarding Tencent, Mr. Zhang, can you confirm it?"

When Professor Zheng talked about valuation, he changed his previous silence and started communicating with Mr. Zhang again.

It’s just that one said “300 million is a conservative estimate”, while the other said “it’s not that high”.

This made Jiang Hao and Lu Weiming, who were standing by, even more excited.

"I am at least 70% sure that their company has a clear strategic intention to enter the live broadcast field."

"The bulk of their profits come from games. Having a game live streaming platform can help them reduce the failure rate of game promotion."

"It is also easier to come up with some hit games, which can be regarded as a new layout of their entire group strategy."

“I think they can accept this price.”

Mr. Zhang's words made Professor Zheng, who was sitting opposite him, silent.

"Professor Zheng, you don't have to worry about this. If Tencent gives up on entering the B round, we are not the only one who would choose it!"

"Both Sequoia Capital and IDG Capital are very interested in Totoro Live."

"Mr. Shen from Red Shirt Capital even promised me that as long as he is willing to bring him into Totoro Live, we can set the price!"

After hearing this, Jiang Hao had no more words to say.

He was extremely grateful that he had found a big investor in the first round.

Not only does it provide a lot of convenience in development and operation, but when talking about this Series B financing, they also behaved extremely professionally and with great confidence.

He is now fully prepared to start this B financing.

Wouldn't it be stupid not to hug someone who has a big thigh?

Anyway, Hillhouse Capital has a considerable stake in Totoro Live in the A round, so it will pay more attention to their B round.

With Mr. Zhang from Hillhouse Capital here, he will come forward to coordinate the company's valuation and various financing conditions!

Finally, it is Jiang Hao's turn to enjoy the feeling of being led by a big boss!

As an opponent before, Jiang Hao had to weigh the pros and cons together with Lu Weiming.

Or it could be said that Jiang Hao was constantly making choices in his heart. In fact, having choices is always better than having no choices.

Facing the leading national capital parties, it was a huge pressure for Jiang Hao to get money from them in the A round.

At the beginning of the A round, they even begged each other to invest.

Now that the opponents have become teammates, the feeling is completely different!

So what if Tencent is as powerful as it is? In the face of Totoro Live’s current achievements, its means of suppressing small companies are no longer effective.

Not to mention copying a live streaming platform or other price-cutting tactics.

Now, Hillhouse Capital is also behind Totoro Live.

If they really don't invest money, Sequoia Capital will really enter the market.

Jiang Hao is not sure if he can compete with other companies, but for Tencent, which was a loser in its previous life.

As long as he is given funding, with the current size of Totoro Live, their internal Penguin Esports will not even be qualified to compete with them!