Chen Hong introduced Lin Fan to idg partner Wang Gongquan who flew over from the capital quickly.???.
Wang Gongquan is in his early forties, wearing a black woolen coat, a brown plaid scarf, and a pair of silver-rimmed glasses. He doesn't look like a businessman, but more like an intellectual or a university professor.
"Mr. Lin, I have long admired your name."
Wang Gongquan is such a person. He is not only an entrepreneur and venture capitalist, but also a metrical poet, the founder of the Chinese Poetry Research Institute, and the vice president of the Beijing Poetry Society.
In his previous life, he gave up his billions of wealth and family, announced on Weibo that he was eloping with a female entrepreneur, and also wrote an "Elopement Song" that went viral on the Internet:
I am always in love with the wind, and I hate the accumulation of fame in the world.
Who has seen mountains of gold and silver passed down through the ages? Only one love is precious throughout the ages!
The bright moon is clear, the stars are with me, and the past is like smoke and I can wave with my hand.
Infatuated and proud of gold, glory is like earth, smiling and bowing to the red dust dancing in the sky.
Lin Fan was stunned in his previous life and didn't understand what kind of trick it was.
Is it the loss of morality or the distortion of human nature that actually made a business tycoon pounce on love like a moth to a flame?
In short, the elopement of two respectable and successful people still attracted great social attention, moved countless netizens, and made everyone believe in love again.
Then, Wang Gongquan’s ex-wife, who had shared the joys and sorrows with her, and his current wife, who had become a “mistress”, all surfaced.
The scene was very embarrassing!
Wang Gongquan has deep experience in the business world and is one of the "Six Gentlemen of Wantong" along with Feng Lun, Liu Jun, Wang Qifu, Yi Xiaodi and Pan Shiyi.
I made a fortune doing real estate in Qiong Province in the early 1990s, and I am considered "old money" in China.
Later, he left the position of president of Wantong, joined idg, and started to engage in VC. Later, he founded CDH Investment with his partners to engage in PE.
Even the cannon in red had to shout "Master is here" when he saw this man.
Having gotten to this point, he actually couldn't control himself and staged such a farce.
As soon as the farce broke out at that time, CDH Fund was immediately confused. Investors thought that the fund was going to be liquidated. As a result, CDH kept issuing announcements stating that the company was operating well and would not run away!
Later, this guy was kicked out by CDH, but he was still restless and continued to perform comedy.
He was criminally detained by the Beijing police on suspicion of gathering a crowd to disrupt order in a public place. He spent several months in a detention center before being released on bail pending trial.
If he had to find someone among the business tycoons to compare with him, Lin Fan felt that it would probably be a "cup-breaking celebration".
Two people can give it a try!
It is normal to say that someone was caught and arrested for doing something big, but it is ridiculous to say that someone was caught doing something trivial!
Lin Fan put away his thoughts and started the basic operation - mutual praise in business.
"Mr. Wang, you are so talented in literature. If you had been born a thousand or eight hundred years earlier, the Eight Great Families of the Tang and Song Dynasties would have become the Nine Great Families."
Wang Gongquan burst out laughing, feeling very grateful for Lin Fan's praise.
His external label is "Confucian businessman", plus half a poet.
He is more happy when others praise him for his literary talent than when others praise him for his business skills and good investment vision.
At this point, he no longer had much interest in simply making money, and began to pursue spiritual happiness!
Chen Hong and Tan Zhi laughed awkwardly at the side. Because they are old friends and know each other very well, they were not too surprised. The basic operation was basic.
After the four people exchanged a few pleasantries, they got down to business and signed the investment agreement.
It was already midnight after signing the contract.
The four of them were very hungry.
Chen Hong had already made arrangements and took a few people straight to the booked hotel.
Sitting in a splendid hotel box, the four of them drank, ate and chatted.
The topics discussed are very wide, covering the investment circle, entrepreneurship circle, etc.
Chen Hong said with a smile: "I heard that Baidu is planning to go public this year? Your IDG will make a lot of money this time. Both the A and B rounds are participating."
Wang Gongquan smiled lightly and said, "It's just so-so. It's a pity that the angel wheel didn't go in."
Chen Hong stopped talking. This was not easy to answer.
Tan Zhi asked: "Penguin went public last year. Does idg regret selling its shares too early?"
Wang Gongquan nodded, with a solemn look on his face, and sighed: "In April 2000, we and Yingke each invested US$1.1 million, and each won 20% of Penguin's equity.
But at that time, the number of users was growing too fast. In order to maintain normal operations, Penguin could only use all the funds obtained from financing to purchase servers.
By the end of 2000, Penguin actually had no money in its account.
We and Yingke both backed down at that time, but we all invested and no one took over.
They had no choice but to bite the bullet and each provided Penguin with US$2 million in the form of convertible bonds.
Then, we made up our mind not to provide follow-up support to this company that only spent money but did not make money. We were going to find a buyer for it and exit with capital preservation.
But at that time, the Internet bubble was burst, and Nasdaq's Internet stock price plummeted.
We found Sina, Sohu, Yahoo China, Kingdee, Lenovo, Tom...
No company is willing to spend millions of dollars to take over Penguin.
If you have no choice, just keep enduring!
When the time came in January 2001, the emergence of the South African mih network brought a turn for the better.
Wangdawei proposed a very attractive condition, a valuation of US$63 million, an all-cash payment, and the acquisition of all shares held by our two investment institutions.
Yingke sold all 20% of its shares, cashed out US$12.6 million, and left quickly.
At that time, people at the idg Beijing headquarters were very excited.
Because Nasdaq fell so miserably, investing in Penguin actually made an 11-fold return in less than a year.
If it were you, would you sell it?"
Lin Fan nodded. In the past, I only thought idg and Yingke were stupid, but after considering the environment at that time, as well as the operating models and characteristics of the two investment institutions, I immediately understood that cashing out was almost inevitable.
Penguin was spending money like water at that time, and Ponima wished that the number of QQ users would decrease quickly, so that Penguin could purchase fewer servers.
At the same time, we caught up with the Internet bubble, and everyone was in silence.
According to general investment logic, selling Penguin stocks is actually very correct.
It can only be said that South African mih looks too far-sighted, as if he has seen through the future.
In that case, he still dared to spend US$32 million to take over the old shares sold by the original shareholders of Penguin.
I just invested it and kept it for nearly 20 years without reducing my holdings, eventually creating an investment myth.
Very few people in the world have this kind of patience.
You know, when Penguin went public in 2004, before the rise of its gaming business in 2007, its stock price rose very slowly in the first two years of its listing, and even experienced fluctuations and declines.
Ordinary investment institutions will close in as soon as the investment is good and exit directly.
Because the closing period of some funds is only three or five years, the time is approaching and dividends must be paid to shareholders, so they can only reduce their holdings and withdraw.
South Africa's mih is different from ordinary venture capital. There is a parent company with a market value of more than 4 billion US dollars behind it. All investments are from its own funds. Naturally, there is no exit pressure and it can be held flexibly for a long time.
In Lin Fan's opinion, South Africa's mih investing in Penguin is even more impressive than SoftBank's investment in Ahri.
Because Ali had Amazon and eaby as its benchmark in the United States, e-commerce was recognized as having more promise than instant messaging at the time.
Moreover, South Africa's mih adopted the method of buying old stocks. At its peak, it held half of Penguin's shares.
Wang Gongquan continued: "At that time, Wang Shu of the Pengcheng branch was very opposed to selling all Penguin shares. At his insistence, idg only sold 12.8% of the shares, leaving 7.2% of the shares.
In addition to buying shares from our two investment institutions, South African mih also bought 13.5% of the shares from Penguin management.
Except for Bonima, the other founders have sold some shares. At its peak, mih held 46.5% of Penguin shares.
In 2003, Penguin wanted to go public and found that the equity structure was not reasonable, so it repurchased the 7.2% equity from us.
The price was pretty good, with a profit of 60 times, and it was sold for more than 23 million US dollars.
Including the more than 8 million US dollars spent on the previous sale of the 12.8% stake, idg recovered a total of more than 31 million US dollars in funds, making a net profit of 30 million US dollars, which was slightly more than Yingke's profit.
Penguin's current market capitalization is almost US$1 billion. If the 20% equity is held until now, even considering that the IPO will be diluted by a quarter, it will still make a little less than US$2.
It would have been better if I could have been more determined at that time and earned an extra US$1.2 billion, which is equivalent to one billion yuan."
When he mentioned one billion yuan, Wang Gongquan couldn't help but shake his head and sigh.
Chen Hong and Tan Zhi also expressed their sighs.
Lin Fan didn't say anything. Not only did he only have ten small goals, but he missed three zeros.
Idg is just feeling a little regretful at the moment, but we will know in the future what a painful realization it is!
After Wang Gongquan finished talking about several cases of idg, he began to ask about the investment cases of Hanergy and Lin Capital.
Chen Hong and Lin Fan both shared generously.
In the investment community, peers often communicate with each other.
It won't work for one person to work behind closed doors. Everyone likes a little ideological collision.
"Holy shit, Brother Lin, you also invested in an electric sports car? A sports car powered by electricity? Is it fast? Can it run?"
Wang Gongquan was very familiar with him, and he soon became brothers with Lin Fan.
Lin Fan smiled, "Of course it can run. It only takes four seconds to accelerate from 0 to 100 kilometers, and the cruising range is currently up to 400 kilometers.
Now that all the problems have been overcome, mass production will begin this year."
Wang Gongquan felt itchy after hearing this and asked, "How much does this kind of car cost?"
"About a hundred thousand dollars!"
"Oh, it's not expensive, it's only over one million yuan."
Wang Gongquan said with a smile: "When it is mass-produced, you have to leave one for me. I also want to experience it."
This kind of car will definitely turn heads when driven on the street, and it can also show off in front of girls."
Lin Fan knew that this person was an old and dishonest person, so he was already used to it.
Wang Gongquan is willing to buy Tesla, so naturally he wants it.
When there are big bosses carrying goods, they are walking advertisements.
Chen Hong and Tan Zhi saw Wang Gongquan's statement and also spoke out, saying that they also wanted to order a Tesla.
The three of them also said that if they had a good experience with the car, they would recommend it to their entrepreneurs and venture capitalist friends.
Lin Fan thanked him repeatedly and lamented that the meal was not in vain.
After the meal was finished and the chat was almost done, the four of them were ready to leave.
At this time, Wang Gongquan suggested that he go to the club for massage and health care.
Lin Fan went to wash his feet and then returned to the hotel.
But the three old men were still staying in the club having fun.
The next day.
early morning.
Lin Fan was sleeping soundly on the soft hotel bed when he was suddenly awakened by the ringing of his cell phone.
He answered the phone in a daze and asked in a low voice: "Who is it?"
"It's me, Chen Hong!"
A burst of hearty laughter came from the other end of the phone, and he said energetically, "Mr. Lin, you haven't gotten up yet? How old are you? You need to know how to control yourself!"
Lin Fan was so amused by this sentence that he lost all sleep.
My heart says, I don’t know how to control myself? I know exactly what you old guys did in the club last night.
There is no need to talk about this kind of thing on the table. Lin Fan did not argue and said with a smile: "Mr. Chen, you got up quite early."
"Well, I'm getting older and can't sleep well. I might as well get up early to exercise and go for a run."
Lin Fan thought that the other party came to him so early to frame the media, so he said: "Our people should have boarded the plane and will probably arrive tonight."
"Oh, um, don't worry."
Chen Hong smiled and said, "By the way, the person you asked us to find has already been contacted for you.
He is no longer serving as the China president of Bertelsmann. I heard that he is starting a business with a few friends.
Do you want to invest in him? Do you need Hanergy to provide FA services?"
Lin Fan admitted directly, "Yes, I want to talk to him. I don't need to provide fa services, because the order is really too small."
"Okay, then I will send you his contact information and company address via MSN."
…………
…………
More than an hour later.
Zhang Chenguang drove Lin Fan to the Suzhou River in Shanghai.
After parking the car, Lin Fan got out of the car and took a few glances.
The surrounding area is surrounded by old buildings of two, three, and three or four stories, with a boxy architectural style and mottled exterior walls, exposing the red bricks inside.
Judging from the age, I'm afraid it's an old building from before liberation.
According to the address provided by Chen Hong, Lin Fan quickly found his destination in a small alley not far away, a two-story red brick house. Please download the app Aiyue app to read the latest content
Zhang Chenguang stepped forward and knocked on the door.
Soon, the door opened, revealing the face of a thin young man with bloodshot eyes. Judging from his age, he was about thirty years old.
The man was wearing a down jacket and his hair was messy. He looked just like a young man who had just finished a night at an Internet cafe.
However, the man's eyes are very bright.
He glanced at Zhang Chenguang, who was wearing a suit, and quickly moved his gaze to the figure in the black down jacket behind him.
Then he seemed to have discovered something incredible, his eyes became brighter and brighter, and he even shouted in surprise: "Are you...Mr. Lin Fan?"
Lin Fan looked at the other party with interest, "Do you know me?"
"I heard some American classmates and friends mention you."
Wang smiled, and then asked with some confusion: "Are you...oh, are you the investor Hanergy talks about?"
Lin Fan nodded, "Yes, I heard that you are working on a video website, and I am very interested in it."
Wang frowned slightly, then quickly relaxed his eyebrows, and greeted with a smile: "Let's talk in the room first!"
Lin Fan noticed the subtle change in the other person's expression and followed the other person into the house without saying anything.
The room was shabby and empty, and the walls were covered with all kinds of weird graffiti.
Under the dim light, several desks were scattered around the room, and four unconventional long-haired teenagers were either sitting or lying on the floor looking at the computers.
As soon as he entered the house, Lin Fan smelled a pungent stench.
Glancing around, he noticed that the table and floor were full of drink bottles, instant noodle buckets, and cigarette butts.
To describe it in one sentence, it is dirty, messy and worse than a black Internet cafe.
"Mr. Lin, let me make you laugh. This used to be an old factory, which we rented and transformed into an office."
Wang Wei saw Lin Fan's eyes wandering over the garbage and felt a little embarrassed, so he quickly explained.
Lin Fan did not let the other party continue to be embarrassed, and casually joked: "It's quite nice here, very quiet, suitable for calming down and working on products."
"Haha~"
Wang Wei laughed a few times.
The four employees with non-mainstream hairstyles in the office also noticed the two strangers Lin Fan and Zhang Chenguang, and they all looked at them.
Wang Wei gave a brief introduction to the employees: "This is Mr. Lin Fan, the controller of Lin Capital. Facebook and YouTube in the United States are led and invested by Mr. Lin."
Hearing this, the four non-mainstream teenagers became a little uneasy. Their pupils were all dilated, their mouths were so big that they could fit an egg in, and they looked surprised.
Wang Wei noticed the reaction of his subordinates and felt a little embarrassed, so he added: "Mr. Lin wants to talk about cooperation with our company. Let's continue working. I will talk to Mr. Lin first."
After the four employees knew Lin Fan's identity, they all wanted to rush up and have a few words.
But when the boss spoke, they could only sit in their seats and watch with great curiosity as the boss led the two of them into the independent office next to them.
The reactions of these employees naturally caught Lin Fan's eye.
This made him guess that these people, including Wang Wei, obviously knew something about him.
He didn't find it strange at all. If Tudou wanted to become a video website, they must have inquired about YouTube.
In the previous life, the two companies were registered at almost the same time, and Tudou even launched its website one month earlier than YouTube.
Wang Wei greeted Lin Fan, and Zhang Chenguang sat down in the reception room and handed two bottles of mineral water to the two of them.
"Mr. Lin, I heard that YouTube already has 30 million users?" Wang smiled and asked.
Lin Fan smiled and said, "Who did you listen to? We don't publish user data."
Wang smiled, "It was inferred from Alexa's visitor, PV, UV and other data."
Lin Fan knew that he could not hide it from those who were interested, so he admitted openly: "Yes, we have already broken through. It exceeded 30 million users more than a month ago. To be precise, it is now 34 million users."
Hearing this data, Wang Wei said with envy: "This growth rate is too scary. Four million users have been added in just over a month. By the end of the year, won't it be approaching the 100 million mark?"
“The growth target set this year is to exceed 100 million users.”
Lin Fan was not modest and showed off his muscles nakedly.
Wang Xiaoxiao said: "This goal is very ambitious. Once achieved, I don't know how shocking it will be."
Lin Fan saw that the other party did not take the initiative to mention the investment and kept going around in circles, so he calmly started chatting with Wang Wei.
“... When building a video website, the biggest expense is bandwidth. YouTube now spends more than one million US dollars on this item alone.
In addition, competitors from all walks of life are also emerging. Google, Juyou.com and other companies have launched their own video websites.
It’s really hard to do!”
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