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Although it was only a small merger worth US$8 million, Chen Yizhou was very cautious and did not skip any due diligence procedures.
And the action was very fast. Just two days after the merger and acquisition contract was signed, the law firm and accounting firm invited by Thousand Oaks Group settled in Youyoumi and worked overtime to complete due diligence.
Lin Fan didn't know if he had scared Chen Yizhou that day, causing him to be so aggressive.
Arriving downstairs from the office building where Youyoumi was, Lin Fan made a call to Rao Lei who was still cooperating with the due diligence upstairs.
After a while, Rao Lei came out of the elevator and immediately saw Lin Fan sitting on the sofa in the lobby on the first floor, and walked over with a smile.
"Let's go out for a walk."
Lin Fan stood up, tilted his head and signaled.
"Why are we leaving? We are so busy right now. I don't know if Chen Yizhou took the wrong medicine. All due diligence must be completed within ten days. Now everyone in the company is so busy that I can't leave.
"
Rao Lei complained, "In such a panic, Chen Yizhou is not afraid of missing something and buying a company that is heavily in debt."
When Lin Fan heard this, he couldn't help but laugh. This was all his fault.
Rao Lei said angrily: "Don't look at the joke. I'm very busy now. If you want to play, you can go alone."
"Now that the company is sold, what are you going to do next?"
Lin Fanxian glanced at Rao Lei and asked with a smile.
Rao Lei was silent for a long time, then sighed: "I haven't thought about it yet, let's take a long vacation for ourselves first! Travel around and relax."
"What happens after you relax?"
Lin Fan continued to ask.
"have no idea!"
Rao Lei really didn't know that his current state could be regarded as exhausted both physically and mentally.
I cashed out nearly RMB 10 million in cash and also held a handful of shares in Thousand Oaks Group, which seemed pretty good.
But in fact he was not satisfied. Who doesn’t have a dream of ringing the bell?
But now I can only ring the bell inside the temple.
“Do you still want to start a business again?”
Lin Fan clearly remembers that Rao Lei, who said he would no longer start a business, waited until next year to start a new company and founded a company called eseLearning (China Learning).
What is it for? An online one-to-one education website that specializes in teaching foreigners to learn Chinese.
It's a pity that I picked the wrong treasure again.
Although it later received millions of dollars in Series A investment from ZhenFund, its development has been tepid, and it is far from being listed on the market.
In a certain sense, he was as unlucky as Rao Lei in his previous life.
Lin Fan dares to conclude that if Rao Lei provides K12 online education, it will definitely be better than teaching foreigners to learn Chinese.
The market is too small, too niche.
But if it takes a few decades, when the whole world is speaking Chinese, it may bring some surprises to people, but I’m not sure.
It’s not that Rao Lei is incompetent. Entrepreneurial ability is the foundation, and luck also plays a large role.
"forget about it!"
Rao Lei shook his head, "I feel like I'm not that material. I'll buy a few apartments in the capital and spend the rest of my life collecting rent and living."
Perhaps because he finally released the pressure, Rao Lei, who has always been gentle and gentle, even started to use foul language.
Lin Fan's mouth twitched when he heard it. People who say such things usually get slapped in the face badly.
"Partner of Lin Capital China, do you want to be a partner?"
Lin Fan looked at Rao Lei with a smile, and said seductively like a devil: "Head the tens of billions of funds and be the entrepreneur behind the entrepreneurs."
"Partner of Lin Capital China!"
"In charge of a tens of billions of funds!"
“The entrepreneurs behind the entrepreneurs!”
…
Lin Fan's words passed through Rao Lei's mind like lightning, making him feel a sense of pride and ambition.
To be honest, he would not be happy to end his business so hastily, or to leave the mainstream attention of the Internet!
Although Lin Capital was established not long ago, due to Lin Fan's continuous ammunition support, it is not far behind even when compared with many established foreign venture capital institutions.
The only thing missing is the classic investment examples and foundation.
But is it still interesting to join after everything is built? Is there still a place for him?
"Mr. Lin, are you kidding me? I have never been a venture capital investor!"
Even though he wanted to agree in his heart, due to Rao Lei's character, he felt that it was better to say some things clearly first.
In case Lin Fan just had a fever, he would give him a hand out of friendship.
If you stupidly join in and make no contribution, it will really hurt your feelings and waste your time.
He has never done venture capital, so he is actually very confused as to whether he can do well in it.
"Hey, if you haven't done it before, you haven't done it before!"
Lin Fan waved his hand, with an easy-going look on his face, "Didn't I do it before? Isn't it still prosperous now?
Although there has not been a successful exit case, I have never rejected my talents."
Rao Lei listened with joy. Even though the other party was bragging, he didn't feel it was inappropriate because the other party had the confidence or talent in this area.
He has heard of and understands some of the companies invested by Lin Capital such as Tudou.com, Ganji.com, and Tesla. In his opinion, success is a high-probability event.
What's more, Lam Capital has just entered China, and the other party has only stepped down as CEO of Facebook for a few months. The future is still long and there are endless possibilities.
"Okay! Since Mr. Lin thinks so highly of me, I will join Lin Capital and experience the work and life of a venture capitalist."
Rao Lei paused, put away the smile on his face, and said seriously: "However, don't give me a partner position, give me an analyst position."
Lin Fan was about to speak, but Rao Lei raised his palm to stop him, "No need to persuade me! I have made up my mind!"
As a beginner in the industry, I have no experience and nothing to be proud of. To do things, I must maintain a humble mentality.
When I make some achievements and become familiar with the industry, you can give me a promotion!"
"no!"
Lin Fan found it a bit funny, "When you come into our company, you will be the VP, vice president. Where can I find an analyst position for you?"
Rao Lei was also stunned for a moment, "Here's the vice president? Don't fool me!"
Lin Fan had no choice but to explain where this set of tricks came from. Goldman Sachs and Morgan Stanley were the best among them, and they were used to trick them.
"Didn't you also say that? At present, Lin's Capital is still in its infancy, and the number of employees is not large. When it is standardized in the future, it is not necessary to re-establish ranks."
Lin Fan nodded, "Well, it will be improved in the future, mainly to provide transition for new employees who join the company, but there is no analyst position for you at the moment."
"Okay, then I will also become a "vice president" executive!"
As he spoke, Rao Lei himself laughed, "You are still a lot of financial fools. If you hand me a business card, people will look at it and say, oh, Vice President, sorry, this business will be easy to negotiate."
After I join your company, you have to have your business cards printed for me in a higher quality, the best ones are those with hot stamping."
Lin Fandan smiled, this kind of job-level routine has actually been played to a pulp. Larger companies will basically not fall into this trap and can only deceive loser entrepreneurs.
The main reason why it still exists is that it has changed from deceiving people outside to deceiving one's own people, and it provides some psychological comfort to those young people who are talented but can't get ahead in the company.
Promotions are quick in finance and investment companies. As long as your performance is acceptable, you are promoted every three years. Analyst, investment manager, vice president and other ranks are considered step-by-step.
Therefore, those vice presidents in their thirties, so-called financial talents, have actually become senior salespeople.
Of course, due to the high salaries and benefits in this industry, the quality of life of financial talents is still acceptable. In the eyes of the outside world, the influence of "vice presidents of financial companies" is naturally amplified.
After chatting for a few more words, Rao Lei went upstairs because he still wanted to help with the adjustment.
Lin Fan watched the other party enter the elevator, and did not look away until the elevator door closed.
He recruited Rao Lei not just to take care of him, but also to build up Lin Capital's presence in China as soon as possible.
Venture capital institutions do not have corresponding university majors, and most of the employees they recruit come from investment banks and PE funds.
This industry requires a lot of experience. Generally, they don’t like to recruit fresh graduates. The cost of training is too high. If you like to recruit, you can start working immediately.
In addition, entrepreneurs who have succeeded in starting a business are an important part of the backbone of venture capital institutions.
What is a small entrepreneurial success? It generally refers to the kind of company that failed to go public and was acquired.
This kind of person has not succeeded in starting a business, but still has a desire for money and success, and wants to work harder.
At the same time, even if the company is not successfully listed, the company can be acquired, which also shows that the founder has certain abilities and relevant industry experience.
These are people that venture capital institutions like very much.
When investing in a company, you need to look at the project itself, and more importantly, the people.
You can contact a law firm or accounting firm to conduct a thorough investigation on your project. If there is anything fishy, you will know right away.
But looking at people is the most troublesome and difficult.
Experienced industry veterans can tell by talking to founders in the same industry whether this person is reliable or not and whether he has any hope of success.
Therefore, investment institutions like to recruit professionals from related industries to join them and specialize in investment in one field.
Take Sequoia Capital as an example. It has also recruited fashion industry experts to serve as partners, specializing in investing in new consumer fields and gaining insight into the latest fashion trends.
As for the CEOs of listed companies, such people are generally unwilling to work for venture capital institutions. They must either set up an investment institution themselves, or invest money to serve as LPs, that is, investors, and let venture capital firms work for them.
Lin Fan recovered his thoughts, quickly turned around, and walked to the outside of the office building.
There was a Mercedes-Benz S-Class parked in the parking space outside. The shiny black paint shone in the morning sun.
This is a rental car, I haven't had time to purchase a few official cars yet.
Zhang Chenguang opened the car door and waited for Lin Fan to get in the car before getting in and asking where he was going.
Lin Fandan said: "Go to Tsinghua University!"
The car quickly started up and drove slowly towards the distance.
Walking into the Tsinghua University campus, Lin Fan found that the learning atmosphere was quite strong.
That is impossible!
Because it was only the end of August and it was during the summer vacation, there were not many students in the school, but there were a lot of tourists.
There were various tourist groups, as well as children who had just finished the college entrance examination, or were about to take the college entrance examination in the next year, bringing adults and children to admire the elegance of the famous school. They crowded together and it was really lively.
Everywhere he went there were people and they were noisy. Lin Fan was not in the mood to go shopping anymore, so he took out his phone and dialed, "Where are you?"
Lin Fan reported a seat, and after a while, a young man with glasses and three other young men with glasses appeared not far away.
From a long distance away, Huang Xin waved his hands to Lin Fan, with a look of joy that was beyond words.
After approaching, Huang Xin happily shook Lin Fan's hand and greeted, "Mr. Lin, long time no see!"
"Yes, we haven't seen each other for two years!"
While Lin Fan shook hands with Huang Xin, he looked at his forehead and frowned, "What's wrong with your hair?"
"Why!"
Huang Xin touched his skin, especially the hairline that moved forward and backward on his forehead, and sighed, "I don't know, my hair has fallen out a lot in the past two years."
"Then you should pay attention to taking care of your body. If you want to start a business, you should also pay attention to your health!"
This was Lin Fan's experience, but Huang Xin obviously didn't listen too much. He didn't care much about these external things. He just wanted to start a business and make money now.
Next to Huang Xin stood three boys of the same age as him, all in their twenties or seventies.
Unlike Huang Xin and Lin Fan who were so familiar with each other and chatted casually.
The three of them were a little nervous when they met Lin Fan. They all knew that he was a big shot among big shots, an entrepreneurial idol who could only be seen on TV and newspapers.
Although they all graduated from prestigious schools and were a few years older than Lin Fan, they felt that their status was unequal and did not rush up to say hello.
Huang Xin, who comes from a businessman family, was influenced by his father and treated people well.
He immediately noticed the embarrassment of several partners, so he quickly introduced:
"This is my brother who slept on the bunk above me in college, Wang Huiwen."
"This is my classmate from high school in Fujian Province, Lai Binqiang, who graduated from the Computer Science Department of Tianjin University."
"This is my senior brother from Tsinghua University, Tang Yang."
Lin Fan shook hands with the three of them one by one and said "hello" to each other, which made the three of them extremely excited.
They had heard Huang Xin say that he knew Lin Fan and almost became Facebook's senior operations director. They didn't quite believe it at first, but now they believe him.
"Where is your company? Take me to see it."
Lin Fan didn't mean to talk anymore and directly asked Huang Xin to take him to see the company.
Huang Xin said "Okay", and he and a few friends took Lin Fan and Zhang Chenguang out of Tsinghua Garden and walked to the Huaqing Jiayuan Community not far away.
"Is your company located here?"
Lin Fan walked on the road, looking at the residential buildings in the community, and asked Huang Xin casually.
Huang Xin didn't think there was a problem at all, and didn't explain too much. He nodded and replied: "Yes, the funds are limited. For this project, we pooled together 300,000 yuan. We don't have much money, so we have to save some money."
"
While Huang Xin was talking, his three friends were also secretly looking at Lin Fan, trying to figure out something.
Lin Fan looked calm and didn't ask any more questions about this question. He just asked about Huang Xin's past entrepreneurial projects.
"You haven't done anything like Duoduoyou, e-mail invitations, wandering pictures, justinput, relay stations...? Have you completely given up on them all?"
Huang Xin blushed a little when he heard Lin Fan's long list of "killed in battle". These were all projects they had worked on in the past two years, but none of them had become famous.
However, Lin Fan still remembered it, which meant that the other party had him in mind.
Huang Xin was still a little happy in his heart, thinking that this was a sign of admiration for his own performance.
"No more!"
Huang Xinyi said honestly, "In fact, we have been trial and error in the past two years. Once we find that there is no possibility of making it big, we will immediately stop trial and error and quickly change projects.
Even if you look at the frequent changes in our projects, the rewards are not small."
The corners of Lin Fan's lips curled up, "Oh, that's right. Then tell me what you have learned. I will also learn from it."
Huang Xin didn't know that Lin Fan would break the casserole and ask the truth. Originally, he was just using it as a fig leaf, but the other party insisted on asking, so he had to bite the bullet and answer:
“First of all, we have always followed the development trend of China’s Internet and never fallen behind!”
Huang Xin pointed to a few partners behind him, "Secondly, I have built a team, and I have a group of brothers who have always followed me."
Huang Xin thought for a while and replied: "Finally, it's just personal insights. I have a deeper understanding of entrepreneurship and a greater ability to withstand failure."
Lin Fan nodded, "Yes, it seems that you have really improved in the past two years. Your ability to summarize and review is as good as others in five or ten years."
Is this a compliment to me?
Huang Xin was a little embarrassed. If someone else praised him, he would not take it seriously.
But Lin Fan is no ordinary person! The first person born in the 1980s to start a business in the world!
Can the praise and recognition of others be compared with this little brother?
Lin Fan really felt that Huang Xin had made progress. Although the progress was not much and it was still at the stage of making general remarks, it was considered progress.
He also glanced at Wang Huiwen, who was following Huang Xin. He was the Kangaroo's second-in-command and his right-hand man who had been loyal to Huang Xin for nearly twenty years.
After entering the new century, entrepreneurship is becoming more and more sophisticated and requires the joint efforts of many people. It is no longer an era of working alone.
Choosing the right partners, retaining partners, and uniting partners are all essential qualities for successful entrepreneurs.
Huang Xin has done an outstanding job in this area. He has worked on dozens of projects and experienced countless peaks and troughs. Wang Huiwen followed him wholeheartedly.
I even heard that Huang Xin gave up a good job at the Institute of Acoustics of the Chinese Academy of Sciences to start a business. In the first few years of starting a business, he was still in debt of hundreds of thousands, borrowing money from everywhere to make up for his entrepreneurial shortcomings.
Even when my grandfather fell ill, as a Tsinghua graduate for several years, he couldn't afford the surgery, so he had to borrow money from friends.
Because I was still running around with Huang Xin at that time, my business failed again and again, and I had no source of income at all.
And the reason why Huang Xinneng succeeded, Lin Fan also felt that the other party was right. He chased the trend again and again, from SNS social networking to group buying, takeout, bike sharing, and community group buying. The Kangaroo King never missed any exciting battle.
Huang Xin asked: "Mr. Lin, I heard that Youyoumi was sold to Thousand Oaks Group, why doesn't Facebook take action?"
Hearing this, Wang Huiwen and the other three people all pricked up their ears.
Lin Fan was really tired of being asked, but he also understood that there was a behemoth like Facebook watching from the side, and anyone who was interested in starting a social network business could not ignore this powerful opponent.
"Facebook has no plans to enter the Chinese market, at least for three to five years."
Lin Fan didn't say too much, lest Huang Xin and others wouldn't believe it.
Even if he said this, Huang Xin and his three friends were still dubious.
Huang Xin was a measured person, so he took Lin Fan to a large house of 130 square meters without asking any further questions.
In a house with three bedrooms and one living room, the living room has been transformed into an open office area, where several programmers are immersed in work, and there are several camp beds next to it;
The remaining rooms are the residences of Huang Xin and others, which are used for both commercial and residential purposes, saving money on renting a house.
To describe it in one sentence, the environment is quite difficult.
"Where are the things? Take them out and show them to me!"
Lin Fan found an empty workstation and sat down, looking at Huang Xin and said.
Huang Xin nodded and asked Wang Huiwen to hand over a laptop.
