It took more than two hours for investors to determine the valuation and their own quotes, not counting the time spent in the previous days to value their own companies.
And Li Daniu and Ande, looking through the quotations, only took five minutes, and then after five minutes of discussion, five investor representatives were finally determined and entered the second round.
Although many people have lost their investment qualifications, they did not leave immediately, because they felt that it was not impossible that the talks would fall apart after that, and there was no shortage of financing plans that had already signed agreements in history and were cancelled for various reasons.
Not to mention those investors who still have expectations and wait for opportunities, and not to mention those reporters who are ready to get first-hand news, Li Daniu began to take turns meeting with representatives of investors participating in the second round, or investors themselves, in his palace.
The reason why the word meeting is used is because this is the royal palace of Tuvalu, and Li Da Niu is the king of Tuvalu.
No matter how much money you have, no matter how much energy you have, remember that this is my territory, and here, I have the final say.
With such an attitude, Li Daniu did not have the slightest cowardice and began to ask for a sky-high price.
The first investor to meet was the world-renowned Citigroup, which has both commercial banks, investment banks, and insurance businesses, all of which are industries with huge cash flows, so their quotations are the highest among all quotations.
Their valuation of the TC network is $80 billion.
"IMHO, I'll only give up to 10 shares."
Li Daniu opened the show to dispel Citigroup's 60% equity demand, joking, for such capitalists, if they have 60% of the shares, then they will definitely dilute Li Daniu's shares through capital increase.
In other words, the current valuation is $80 billion, and then we both invest another $40 billion in the TC network, if you can't take it out, it doesn't matter, I will take out $80 billion alone, then your shares will be diluted by more than half.
How dare Li Daniu have more money than anyone who opened a bank In the end, it seems that the market value of the TC network will reach a giant level, but at that time, it is very likely that Li Daniu will only have a few percent of the shares left.
A company valued at $300 billion, with 10 percent equity, is only worth $30 billion, or even less.
But a company valued at $80 billion, with 90 percent of the equity, that's more than $70 billion.
This is the capital market, which can make you inexplicable, and the money is mostly less.
The representative of Citigroup, who has seen a lot of entrepreneurs like Li Daniu, was reluctant to release his equity at the beginning, but in the end, in the face of reality, he had to bow his head.
"Your Majesty, I can understand your feelings very well, but doing business and starting a business are completely two different concepts.
You must know that even a giant like Eyebook, his founder now only has a 20% stake.
Counting other companies, almost all of the world's top 500 companies have no founder who can hold 51% of the shares. ” The representative of Citigroup smiled and said: "I know that what you are most worried about is that we will affect your development plan for WeChat, so we can promise that as long as it is beneficial to WeChat as a product or the TC network, we will not refuse." ” I'm a fool if I believe you Li Daniu scoffed at what the representative of Citigroup said.
What is a favorable plan: Before a plan is implemented and the results are not seen, no one can know whether the plan is correct or not.
Now the promise is good, and when it comes to the real plan, just find a reason, saying that the plan is not good, or it will become a matter of ridicule in the end, it still depends on who has more equity, and who has the right to decide.
Why don't you promise, absolutely not meddle in the right to operate, and why don't you promise, never arbitrarily increase capital and dilute shares "Ten percent equity is my limit.
If you can't accept that, then I can't accept your $80 billion valuation.
And, to be honest, the valuation of $80 billion is really a lot worse than my expectations. ” For Li Daniu's resolute attitude, the representative of Citibank was not surprised.
Because any financing plan like this cannot be done in one meeting, at least a few days, or even a few months, and the two sides slowly bargain little by little.
Even after the financing plan has been finalized, it takes more than a day to establish the detailed contract.
The two sides said a few polite words, and then talked after making an appointment.
After the Citibank representatives left, Li Daniu began to meet with several other investor representatives.
There are giants like Citigroup, such as Sequoia Capital, which controls more than 18 funds, as well as Eyebook and Wenna.
Wenna Company is a company mainly engaged in computer systems.
Almost 99 percent of the world's computers use their company's systems.
Unlike Microsoft in the previous life, there is no Apple's OX in this world to compete with them.
After meeting with the five companies, Li Daniu found that there are really no fools in this world, especially these rich people.
Their unanimous attitude is to demand more than 50 percent equity.
It's worth $80 billion, and it doesn't matter, I can come up with $40 billion, or even more, but I have to have more than 50 percent of the shares.
Normally, if the first round of financing can get a valuation of $80 billion, it is already a miracle.
Moreover, more than 50% of the funds exchanged for shares cannot be fully invested in the TC network.
In other words, with 10% of the shares, 10 billion US dollars will be raised for the development of TC Entertainment, no problem.
But you, Li Daniu, must sell 40% of your shares to me, and this money can be put into your private pocket.
As long as you nod your head, you can use a software created in 20 days to invest $400 million in a company that has invested more than $30 billion in cash and 40 percent of the shares in a company with a market value of $80 billion.
This is an incredible thing for any entrepreneur, and it is something that should not be hesitated and accepted at all.
The reason is very simple, if you don't agree, people can spend a billion dollars to develop a software and compete with you for the market, and when the time comes, won't the gains outweigh the losses But Li Daniu knew that this account was not calculated like this.
Investment is investment, and entrepreneurship is entrepreneurship.
The market value of Eyebook is so high, investors can use tens of billions of dollars to build a social networking site exactly like Eyebook, and even directly buy users with money.
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But why would they rather have 5 percent or less of the shares than create the same company themselves?
In the previous life, Alibaba Group, there were so many people who couldn't get its shares, or were unwilling to pay a high price for its shares, and created the same type of company by themselves, and as a result, could it reach a market value of more than two trillion yuan?
Investors' money is not their own money, but their customers' money.
The client allows them to invest in a promising company, but will never agree to use the money to set up their own company.
Moreover, WeChat already has more than 400 million users, if it is not for the fact that it takes time to go public and requires all kinds of procedures, Li Daniu does not need financing at all, and goes public directly to make money.
It is equivalent to Alibaba, which is about to go public, not going public, but going to do the first financing, which can imagine how huge the value is.
Normal Internet companies may only need tens of millions of financing in the first round, hundreds of millions in the second round, and hundreds of millions in the third round.
But when Li Daniu started his business, he was not short of money, and 400 million US dollars had already been smashed out, and WeChat was directly smashed to maturity, so he dared to ask for a price, so he was not afraid that these people would use less money to grab the market with themselves.
After discussing with Ande, Li Daniu already had a number in his heart, and met with several investors again, and after some fierce negotiations, the following financing plan was finally determined.
Citibank paid $6 billion in exchange for a 10 percent stake in the TC network.
Sequoia Capital paid $4.2 billion in exchange for a 75% stake in the TC network.
Eyebook exchanged its 3% equity for 155% of the equity of TC Network.
There is nothing to say about the specific rules, except that Li Daniu has a veto power and is the chairman, and other shareholders cannot propose a capital increase without reason.
The reason why Li Daniu agreed to let Yanshu replace the shares is naturally to let Yanshu import their users to WeChat, which is one billion users, so to speak, if the user import is completed, then, WeChat will not be afraid of any competitors of the same type in this world.
According to the current market value of $320 billion in Eyebook, three percent of the shares are equivalent to $9.6 billion, and when this news is announced, the market value of Eyebook will definitely increase, which is more than $9.6 billion.
As for the 3 shares of Eyebook, which shareholders of Eyebook will come out, and how to divide the shares of TC Entertainment 155, that is Eyebook's own internal matter, and it has nothing to do with Li Daniu.
Of course, there are also strict regulations on the way to cash out Li Daniu's 3 shares, and they must not be cashed out at will.
However, Li Daniu is not stupid, why should he cash out at will at will if he obviously adds value Besides, not all of Citigroup's and Sequoia Capital's money will be injected into the TC network.
Instead, half of each will receive it in his pocket in the name of Li Daniu's cash, and the remaining half is the funds belonging to the TC network.
On the surface, this is Li Daniu's loss, because if the remaining half is not enough for the development of the TC network, such as what business needs to be acquired or developed, then it is bound to increase the capital, and if the capital is increased, then, with the money of Citigroup or Sequoia Capital, Li Daniu's shares can definitely be diluted to less than 50%, or even less.
But in Li Daniu's view, when the TC network spends all this money, it doesn't know who is richer Capital increase Come, see who stons whom t1706231537: