Rebirth of the Wild Age

As soon as Song Weiyang came back from America, someone came to see him, and she was a beautiful woman.

In fact, this beauty sent a total of 8 emails to Shen Si within half a month, with an average of one email every two days. She was very anxious. Hearing that Song Weiyang was in the United States, this woman almost flew directly to the other side of the ocean.

Thomson Golf Villas.

Shen Si knocked on the door and reminded: Boss, Ms. Wang is here!

Please wait a moment. Song Weiyang handed his son to his aunt, got up and put on a coat, then walked outside Shi Shiran.

The visitor's name is Wang Shutong, 36 years old this year, who used to be a lecturer at the Software Development and Research Center of Tsinghua University. After resigning from Tsinghua, she chose to join Microsoft and became Microsoft's youngest executive in China. Later, she moved to Cisco and managed the Best Team in Cisco Asia.

In 1999, Rebs founded Joyo, and Wang Shutong was recruited as eo. She single-handedly developed Joyo into the largest b2 website in China.

Yes, in 2004, the most successful b2 website in China was not Taobao, but Joyo.com under Jinshan. Strictly speaking, Taobao is a 2 website.

Why is Wang Shutong so anxious to find Song Weiyang?

Because Jinshan and Rebs want to sell Joyo!

Historically, Joyo.com was sold to Amazon as early as August, and later changed its name to Amazon China. Among all the executives at that time, only eo Wang Shutong strongly opposed it, but he couldn't stop it. In a rage, he founded Dunhuang.com by himself.

In this time and space, due to Song Weiyang's multiple injections into Jinshan, Jinshan has a lot of funds, so it is not until now that it considers selling Joyo.com.

Director!

The moment Song Weiyang appeared, Wang Shutong, who was drinking coffee and waiting, immediately got up and greeted with a smile.

Song Weiyang nodded and smiled, Sit down.

Although Wang Shutong was very anxious in the email, his emotions are very restrained now. After she sat back, she waited for Song Weiyang to sit down as well, before she said, Chairman, I am in a hurry to come to see you, it is very presumptuous. Please forgive me if I disturb you.

We're all on our own, don't talk outside the box, Song Weiyang said, If you have anything to say, just talk about it.

Wang Shutong said: That's right. Joyo launched its second round of financing three months ago, but because the website has not been profitable so far, investment institutions are not very optimistic about the prospects of Joyo. Three venture capital institutions are willing to invest. However, the valuation of Joyo.com is far lower than our psychological expectations. Only Amazon is willing to continue the negotiation. At the beginning of the discussion, there were three investment plans: first, Amazon held a small stake and only invested $3 million; second, Amazon held A large stock, directly controlling Joyo; third, a wholly-owned acquisition, just like Yahoo bought 3721.”

None of the three options passed? Song Weiyang asked.

Wang Shutong said: Yes. Amazon is unwilling to the first option, because they have spotted the Chinese market and must intervene forcefully. The second option, Jinshan, disagrees, because the capital strength of the two parties is too different. If Amazon wants to increase capital in the future, If we invest another 100 million, will Kingsoft follow suit? And according to our discussion, after Amazon acquires Joyo.com, it will definitely not list Joyo.com, but will only develop Joyo.com into a branch of Amazon. At that time, Jinshan will not only lose The control of Joyo.com is not even possible to cash out the stock.”

Song Weiyang said: So Jinshan chose the third option, directly selling Joyo to Amazon?

Yes, Mr. Qiu and Mr. Lei have reached a consensus, and they will ask for your opinion in two days. Wang Shutong said.

Song Weiyang really didn't know much about Jinshan's current situation. He said strangely: Jinshan is short of money now? I remember last year's financial report was okay, and this year's Jianwang is also making money.

Wang Shutong said: There are two reasons. First, Jinshan is short of money and not short of money. Jianwang has been developed for several years, and it has consumed a lot of Jinshan's funds. After Jianwang was launched, it was relatively successful, so Jinshan wanted to There is still a gap in funding to fully enter the online game industry. Second, although Joyo.com has the largest scale and the best reputation in China's b2 industry, it has not made any money so far. If it continues to do so, it must increase investment or financing. If the financing cannot be obtained, then Jinshan can only subsidize it with its own money.”

I understand. Song Weiyang said.

To put it simply, Jinshan has two very good products in its hands, one is an online game and the other is a shopping website. However, given Jinshan's current financial situation, it is impossible to spend money in two industries at the same time, and must choose one of the two. Online games can make money now, but shopping websites don't know how long it will take to subsidize to make money, so Qiu Bojun and Lei Jun chose to make quick money. After selling Joyo.com, not only can cash out the funds, but also have enough money to develop the online game business.

Wang Shutong said: Chairman, Joyo cannot be sold!

Song Weiyang asked: What do you think about the prospects of b2?

Wang Shutong said: Although shopping websites have been losing money now, they will definitely develop rapidly in the next three to five years. We only need to last for another three to five years. Maybe we can't become China's Amazon!

Song Weiyang asked: What does Lei always think?

Wang Shutong said: Mr. Lei is very tangled and painful, but he insists on selling Joyo. I just had a fight with him yesterday. He said that Amazon lost money for eight years before making a profit, and spent billions of dollars in it. .It is more difficult to do b2 in China than in the United States, and the complexity increases with the scale. Now the great opportunity has been missed, and venture capital institutions have become more cautious. It is impossible to invest in huge investments for several years like investing in Amazon. Funds to help Joyo develop. Even if you are willing to increase your holdings, the chairman, you can’t afford the consumption of funds at all.”

How much is Joyo.com losing a year now? Song Weiyang asked again.

Wang Shutong said: It's hard to say, it's different every year, how much we lose depends on how much we invest.

Song Weiyang asked: How?

Wang Shutong explained: It's mainly investment losses. When Joyo just started, it was easy to process 100 orders a day, but when it grew to 500 orders a day, our warehouse was not enough, and we couldn't send things out. Employees were all sent to the warehouse to do packaging, so we had to expand the size of the staff. When it came time to process 1,000 or 10,000 orders a day, new problems continued to arise, and we overcame these problems. However, the chairman knew How many orders does Joyo receive every day?

How much? Song Weiyang asked.

One hundred thousand orders! Wang Shutong said.

Awesome. Song Weiyang couldn't help but admire. In 2004, it achieved 100,000 orders per day, which is indeed the largest b2 website in China.

Wang Shutong continued: To make 100,000 orders every day, the warehouse in the capital alone needs 30,000 square meters, which is equivalent to the size of six football fields. The warehouse is full of shelves, and a shelf costs 1,500 yuan. The purchase cost of the shelves alone is 30 million yuan. .It will cost at least 10 million US dollars to load all the shelves and equip the assembly line. And if we continue to expand the business scale, we need to build at least 5 such logistics distribution centers across the country. How much do you think the investment should be?

It's really big. Song Weiyang said.

There is also the problem of express delivery, Wang Shutong said. We have tried many express companies. Some bosses are eager for quick success and quick profits, and they quit because the profit is too low; In other words, China’s distribution system is very immature, and we need to do logistics and distribution ourselves, which is another huge investment. The investment amount is too large, which scares Mr. Lei.”

Song Weiyang said with a smile: Anyone will be scared, and they have to go public to collect money to continue.

Wang Shutong straightened up suddenly: However, as long as we persevere, the future will be bright! Therefore, I ask the chairman not to give up on Joyo. As long as you make a high-profile announcement of increasing your holdings in Joyo, someone will definitely follow up and invest!

Song Weiyang has shares in Joyo, about 10%, and he invested in the website when the funds were most difficult. The major shareholder of Joyo.com is Jinshan. Lei Jun is the founder, and Wang Shutong is the founder of eo. Rebs, who also has personal shares, later invests in the website everywhere. Those funds are the money earned by cashing out Joyo.com. The sum of money provided him with sufficient funds to create Xiaomi.

In addition, Joyo has conducted a round of financing before, and idg and other venture capital institutions are also shareholders of Joyo.

Song Weiyang shook his head and said: There are too many b2 companies in China. Even if Joyo is the industry leader, it is difficult to continue to attract investment. Why don't you do 2? Now that we have entered the web2.0 era, we should give full play to the masses' Strength. Bring more people in to open stores, and they will purchase and deliver goods by themselves, so that the pressure on warehousing and logistics can be relieved.”

Like Taobao? Then Joyo.com is not Joyo.com. These are two different e-commerce models. Wang Shutong said.

If you don’t understand the difference between these two models, then you can compare Joyo.com to Tmall, but at this time Joyo.com still mainly sells books.

Song Weiyang asked: If you are allowed to open up, how much money do you need?

I will try to use up the initial 30 million US dollars within three years to establish a basic warehousing and logistics system, Wang Shutong said, but by then, the scale of Joyo.com will be even larger, and the required funds will also increase geometrically. Then It’s hard to say how much money you’ll need.”

Song Weiyang took out his mobile phone: I'll contact Lao Lei.

Wang Shutong got up immediately, and said to Shen Si next to him, Miss Shen, please take me to the bathroom.

Please follow me. Shen Si smiled.

Song Weiyang quickly called Rebus, and asked with a smile, Mr. Lei, do you want to sell Joyo?

Rebs said: Well, I have discussed it with Mr. Qiu, and I planned to contact you tomorrow. This matter is very complicated. I will email you the details, and I will finally listen to your opinion. To be honest Well, I don’t want to sell Joyo.com, which is the website I created. But now Jinshan has two ways to go, you can only choose one of the two, and it’s impossible to cover everything. Unless, you continue to spend money on Joyo.com, or you can Keep attracting investors. If this is the case, Joyo doesn’t need to sell it.”

Song Weiyang thought for a while: How about I wholly acquire Joyo?

You bought it yourself? Rebus asked in surprise.

Well, all the shares are transferred to my personal name. Song Weiyang said.

Amazon values ​​Joyo at $75 million, Rebs said.

Song Weiyang said with a smile: Based on this valuation, you inform other shareholders that those who want to sell their shares can sign the contract, and those who don't want to sell can continue to hold shares.

No problem, Rebs said happily. It's better to sell to you than to Amazon. I really hate Joyo.

A few minutes later, Shen Si brought Wang Shutong back.

Song Weiyang said: I plan to buy Joyo.com, and the website will have nothing to do with Jinshan in the future. Are you willing to continue to do eo?

Of course! Wang Shutong said happily.

Song Weiyang said: Do you want to keep the shares in your hand, or do you want to sell them to me?

Keep it! Wang Shutong said firmly.

Song Weiyang said with a smile: Well, in view of your persistence and confidence in Joyo, I will give you another 0.5% equity reward.

Wang Shutong smiled and said, Thank you, Chairman!

Song Weiyang put away his smile: I have two small suggestions.

Wang Shutong said: Chairman, please tell me.

Song Weiyang said: First, in terms of warehousing and logistics, you can cooperate with Xifeng Logistics Company, and at the same time start to improve your own distribution system; second, expand the types of products on Joyo.com, which is too single now, and books account for too much ...and with the popularization of the Internet, the book market will inevitably decline in the future, and the sales of books will also decline.

I tried my best. Wang Shutong said.

Song Weiyang turned his head and asked Shen Si: Do you want to let it out?

Shen Si was a little surprised, obviously stunned for a while, and said after a while: I'd better follow the boss.

That's fine, Song Weiyang said to Wang Shutong with a smile, I will lend you Shensi for a few months, and she will help you contact major brand manufacturers to settle in Joyo.

With Ms. Shen's help, I will have more confidence. Wang Shutong couldn't help but be overjoyed.

Shen Si is the personal assistant of the richest man in Asia. He not only has face, but also has personal connections. If she does it herself, she will surely be able to persuade a large number of manufacturers to cooperate with Amazon, which is a hundred times more convenient than Wang Shutong's own business development.

Song Weiyang continued: When I buy Joyo.com, I will invest an additional 250 million yuan. Is this enough for you?

Wang Shutong excitedly said: Enough!

If Joyo can do it, will Lao Ma still launch Tmall? Can Jingdong develop so smoothly?

The world is becoming more and more different, it seems very interesting, Song Weiyang really wants to know the result.

Alas, the happiness of the rich is just so dull and boring.