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

Everything has been going very smoothly since the financing was finalized with Ma Ge.

On October 10, the Tencent team once again rushed to the Totoro Live company.

Jiang Hao was familiar with several of them, but the leader of the team was no longer Mr. Qi, but Qu Hui.

Jiang Hao had communicated with this person, the head of Tencent's M&A investment department, twice over the phone during the B round.

Logically speaking, the position is not low, but it cannot be compared with that of Senior Vice President Qi Jie.

When Qi Jie came a few days ago, Jiang Hao didn't even see Qu Hui.

On the contrary, today, I will become the team leader.

"Manager Qu, it's rare that you lead the team this time! Let's have some tea in the conference room first."

"The specific contract still needs to be compared with a lawyer."

In the conference room, a group of lawyers are reviewing the contract.

In particular, the legal team of Totoro Live, more than ten people, compared and discussed the contract.

So far, Totoro Live’s own legal team consists of only two people.

These two people are mainly responsible for contacting external law firms.

Yes, the actual corporate legal work is still outsourced.

Their company cannot afford a top team of lawyers for the time being.

Firstly, it’s about money, and secondly, it’s really hard to poach senior talent from law firms.

In this respect, we cannot compare with Ma Ge. Their reputation of “Nanshan Pizza Hut” is well-deserved.

Jiang Hao believed that after having dinner with Ma Ge, there would be no clauses that would deliberately block him or restrict his rights on Totoro Live.

However, it is still necessary to check what needs to be checked. At least some controversial contract format clauses should be clarified in advance.

"Isn't Mr. Zhang coming over today?"

As soon as Qu Hui sat down in the conference room, he looked around at everyone.

In fact, they are still some familiar faces, as for Mr. Zhang.

I followed you for a few days just to finalize the main work of the C round of financing.

Now that Ma Ge's meal has been finished, Gao Yan will sign and finalize the remaining matters that have been ordered long ago.

"Mr. Zhang won't come. He has other financing work to do."

Qu Hui didn't care about it. On the contrary, when he was about to raise his hand to drink tea, he didn't even take a sip.

Seeing that there was no one around Jiang Hao at the moment, he put the teacup down.

Then he moved a little closer and said happily.

"Mr. Jiang, I have good news for you."

"Boss Qi, he was demoted."

"Oh? Is this true? What's going on?"

When I was having dinner with Brother Ma, he just brought up the matter of Qi Jie.

The specific attitude towards Qi Jie is actually relatively positive.

After all, he was an employee of his own company. He did not completely deny Qi Jie in front of him, but mostly avoided the topic.

Anyway, since Brother Ma was humble enough to him, Jiang Hao was already satisfied and didn't care about anything else.

I didn't expect that Brother Ma would punish Qi Jie!

This surprised him a little, and at the same time, his feeling towards Ma Ge improved a lot.

"His position as senior vice president has been suspended and he is only responsible for financial affairs for the time being."

"Boss Jiang, this is all thanks to you!"

Although Qu Hui had communicated with him very rarely, he even said that they were not very familiar with each other.

But Qu Hui didn't treat him as an outsider at all, and didn't care at all about showing his dissatisfaction with Qi Jie in front of Jiang Hao.

"This has nothing to do with me! I just want the company to raise funds. I have a disagreement with Mr. Qi and we couldn't reach an agreement!"

In fact, Jiang Hao felt very comfortable about this matter.

He and Qi Jie had a feud for a long time, so it would be strange if he wasn't happy to see him in such bad luck.

Of course, this only suspends the position of a vice president, which means that his power has been cut by more than half.

Jiang Hao didn't expect that Brother Ma would kick his CFO because of him, it would probably be more of a warning.

Being able to achieve this is the happiest thing for him recently, except for finalizing the financing with Ma Ge.

"Haha! Mr. Jiang, I understand!"

"Not only our investment team is very supportive of your investment in Totoro Company, but even Mr. Ma is paying close attention to it."

"It's mainly because Qi Jie himself didn't understand the situation, so he deserves it now."

It seems that there is also a conflict between Qu Hui and Qi Jie.

After all, it is within a large group, so some factional disputes are normal.

One is in the foreign investment department, and the other is the financial boss. It seems like they don't get along well with each other.

"Boss Jiang, how much shares do you plan to sell for this time?"

"It's just 20%. We are only going to allow your group to enter."

At this point in time, including the angel round and the A round, the shares that Jiang Hao did not value very much have returned to value judgment.

The C round of financing is different from the other rounds, such as the countless A rounds every year.

Among them, 20% are lucky enough to reach the B round, but there are only a few dozen companies every year that want to develop from the B round to the C round.

They are all leaders in their respective industries, and the stocks they hold are really starting to become valuable. Once they are listed, the value will be completely different.

Who would be willing to give up their shares at this last critical moment?

If it weren't for raising the price and providing a bottom line, Jiang Hao wouldn't even bother contacting other groups.

The final financing signing could not be completed on the same day.

Even though the financing amount and equity ratio had already been negotiated, the specific contract for Round C, including the details, took a total of three days to discuss.

It involves several teams of lawyers working all night long.

Finally, the thick contract was finalized. From this, Jiang Hao could also feel the completely different feeling of the company after the C round!

You’ve really made progress!

It was not until Qu Hui and representatives of all parties signed that Jiang Hao finally signed the financing agreement.

The C round of financing was funded by Tencent Group, with a total investment of US$4 million and a post-investment valuation of US$20 billion.

Among them, Tencent Group’s shareholding increased from 15% before the investment to 32%.

The other capital parties did not follow suit and all their equity was diluted.

After dilution, Jiang Hao holds a 35.36% stake.

(Individuals hold 28.96% of the shares, and the company's option pool holds 6.4% of the shares)

Hillhouse Capital became the largest investor after Tencent, holding a 17.92% stake.

Lu Weiming became the largest individual investor, holding a 6.24% stake.

Yifan Investment holds a 4.48% stake, while Sequoia Capital and IDG hold 2.4% and 1.6% stakes respectively after dilution.

As for not allowing other investors to follow suit, it was actually mainly Tencent’s idea.

After all, they are determined to have more say in Totoro Live, so how could they allow the equity of several investors not to be diluted?

After this round of financing, Jiang Hao is still the chairman of Totoro Live, and he continues to be responsible for management.

But the actual company's power, especially the controlling rights, has been lost.

Unless Mr. Zhang of Hillhouse Capital firmly supports him, his voice will inevitably be reduced.

But while his power decreased, his actual personal worth skyrocketed again, until now, when he excluded the option shares that were given to senior executives for holding shares.

The individual's actual net worth reached 5.8 million US dollars.

Once successfully listed, the net worth will turn into wealth, and may even reach a net worth of $10 billion!