At around two o'clock in the afternoon, Wen Liang, Wang Wanyu, and Li Ze went to the Ritz-Carlton together.
For business cooperation, if it is not easy to place it in the company, a private conference room in a five-star hotel is generally the first choice.
Although Wen Liang was the host this time, Liu Chiping and the others arrived earlier.
Seeing Wen Liang and his party, Liu Chiping stood up with a smile and took two steps to introduce the 'suitable' friends to Wen Liang.
"Sequoia Shen Nanpeng."
"Xu Xin today..."
"Hillhouse Zhang Sanshi."
"..."
Including White Goose, there are four companies in total, all of which are considered large and important institutions. This kind of institution basically cannot be described by VC or PE.
Only such an organization is qualified to intervene in the current Bolang.
A company that has not been established for a long time, but has perfected its business model and has a super high valuation that has reached the top of the Chinese comprehensive social platform.
The temperature in this private meeting room is moderate, and you can't feel the heat wave outside at all.
The teapot is steaming, and the aroma of tea is already wafting out.
The indoor air is fresh and pleasant.
Roughly divided into five parties, a total of 11 people were chatting with each other.
Shen Nanpeng smiled and said in a gentle tone: "I have heard about Mr. Wen's name for a long time, but today I can see it."
"Hello Mr. Shen, this is the first time we meet, please take care of me." Wen Liang greeted with a smile and shook hands with Shen Nanpeng.
"Mr. Wen, hello, Mr. Wen."
"Mr. Ze."
"Mr. Wang."
"..."
After a brief exchange of greetings, everyone took their seats.
Wen Liang said a few opening remarks enthusiastically.
Thanks to Liu Chiping and Yunyun.
He said two more words of commercial flattery.
Everyone laughed and agreed.
There were bursts of laughter, and no one was so anxious to get to the point.
…
Xu Xin, the only female investor, brought up the topic with a smile: "I haven't been to Yangcheng for a long time. Coming from the airport, it feels like something is changing with each passing day."
Zhang Sanshi took over the conversation: "I come to Yangcheng often, but it is rare to have such a good opportunity to sit down and have a cup of tea with a few friends."
Shen Nanpeng said a little vaguely: "Yes, speaking of which, the last time Mr. Zhang and I met was years ago."
Liu Chiping calmly followed up with a gentle compliment: "It seems that we all have to thank Mr. Wen for giving us the opportunity to sit and drink tea together."
In fact, there is a specific person in charge of White Goose's investment affairs, and he is also here.
However, Liu Chiping was planning the game, and he also wanted to give Wen Liang a hand, so of course he would be more proactive in the conversation.
Wen Liang responded with a smile: "I have to thank Mr. Liu for giving me such an opportunity to communicate face-to-face with senior industry veterans."
While talking, the thoughts in Wen Liang's mind turned at least 19 times.
'The four interested institutions probably want to monopolize it, but Liu Chiping knows that I can't do that.'
'If it wasn't intentional, both Shen Nanpeng and Zhang Sanshi wanted the other side to be eliminated first.'
‘Sequoia is the new money from abroad, and Hillhouse is the old money from abroad.’
‘The capital that Zhang Sanshi can leverage may be higher than that of Shen Napeng, but Shen Napeng is more focused on venture capital and has more resources in this area?’
'Xu Xin...is he just making up the numbers? Liu Chiping wouldn't have taken the wrong aim. White Goose wants to invest in JD.com through Xu Xin's Capital Today, so he is borrowing flowers to offer sacrifices to Buddha?'
Wen Liang didn't pay much attention to capital institutions in his previous life. This time Liu Chiping deliberately didn't disclose too much information in advance, and he didn't make much preparation.
I just have a general understanding of the active domestic capital institutions before coming here.
How can I put it, today's capital is not what Wen Liang expected.
The company currently manages a total of only a few hundred million US dollars in capital, so it is not really qualified to be on the table.
After all, excluding existing investments, there are not many funds available for capital use today, so it is difficult to get much on the table.
You must know that in the middle of last month, an international capital's fair assessment of Bolang had increased to US$1.7-1.9 billion.
The situation has undergone earth-shaking changes this month. All large capital institutions that claim to be fair do not dare to issue evaluation reports on Bolang easily.
The market is changing, and it will take them a long time to figure out the future value of Bolang.
Anyway, if we simply compare it with Sina Weibo, the current estimate of US$4 billion for Bolang is considered low.
In short, Wen Liang cheered up from the moment he walked into this private conference room. He needed to make the appropriate response at the right time.
This kind of face-to-face ‘game’ has countless possibilities every second.
Wen Liang has been struggling for so long, and finally has the ability to set some rules. If he can maximize his interests, he must maximize his interests.
His initial assumption was to use capital money to develop Bolang, but also to be able to throw away capital at any time.
A more crude description is that Wenliang needs capital to become Bolang's "chamber pot".
…
Liu Chiping talked about the weather with a smile: "Yangcheng was still cloudy two days ago, but today the clouds have cleared and the fog has cleared, and the sun is shining brightly."
"God is good," Wen Liang continued.
Xu Xin looked out the window at the clear sky: "It is the rainy season in the south, and it is indeed rare to have such good weather."
"Mr. Wen is right, God is good, haha."
"..."
It seemed that in the chat-like communication, everyone here spoke in a more polite manner.
Just like Wen Liang's polite and flattering scene when he met Mapperly for the first time two days ago.
Words like ‘mud trough, shit’ won’t pop up from time to time.
However, this does not mean that he is gentle. Mapleli, including those here, cannot speak "elegant Chinese".
As the saying goes, billionaires are also ordinary people, and they are just your fault for gossiping in private.
It's just that today is the first time we meet, each has his own thoughts, and his words are relatively not so 'sharp'.
Wen Liang is also gradually exploring the actual relationship between Liu Chiping and the others.
He initially estimated that it should be a 'competition and win-win' relationship.
Even Sifang and Bolang are competing for win-win results.
That is: everyone represents very different interests, and a win-win situation will be achieved through competition.
The powerful White Goose, Sequoia, and Hillhouse all want to monopolize it, and they all seem to be interested in sending Xu Xin out of the game first.
It shouldn't be easy for Xu Xin to get a seat ticket. She also wants to drink some soup.
On the other hand, all parties want to know what kind of rules Wen Liang wants to enact, and whether this rule can be suppressed together.
If we need to join forces to suppress it, will we be in chaos because of inconsistent interests?
Anyway, it's a strange state now.
Every sentence seems to be meaningless, but every sentence means something.
…………
Finished the first cup of tea.
Liu Chiping began to turn the conversation to the serious matter of 'financing', intentionally or unintentionally.
Zhang Sanshi, Shen Nanpeng, and Xu Xin all cooperated.
It was inevitable that there would be a round of commercial flattery.
"Mr. Wen's Bolang has been developing very well this month."
"Mr. Liu didn't mention it, but he forgot to congratulate Mr. Wen. The number of users of Xiaocheng Book has exceeded 300 million, and the coverage is already very broad."
"Yes, yes, I feel like it was just yesterday that we exceeded 200 million. It is really developing rapidly."
"Nowadays, people on the Internet are talking about Mr. Wen's traffic password for Bolang. I think it's not just that."
"..."
Of course Wen Liang was very cooperative and dealt with it modestly.
As the topic deepened, Wen Liang did not shy away and took the initiative to mention financing: "In the blink of an eye, we at Bolang have developed to the current stage. For better development in the future, financing has become a major concern for us."
"Several CEOs are experienced in the capital market. I think they should be able to give us some very good development suggestions for Bolang."
After all, this scene is not a business war, but a discussion of interests.
Hypocrisy is inevitable.
"Mr. Wen is too modest. We are just crazy about how old you are, and we can't even give you advice." Liu Chiping directly raised his hand.
Zhang Sanshi also raised his hand: "Bolang has been able to develop to this day in such a short period of time and has verified its business model. We don't dare to give blind advice to Mr. Wen."
"Yes." Xu Xin took over the conversation and said slightly radically, "But financing is an important condition for a company to grow into a large company."
Xu Xin is really right about this.
Looking at modern enterprises at home and abroad, one cannot find any large companies that have grown without financing.
Neither is Juchang.
Although it does not have external financing, it does have internal financing, and this kind of financing is very special and contains non-compliant parts. It was also stopped by the superiors last year. Not long ago, on March 31, Ju Factory issued a relevant internal notice and basically terminated it.
Internal financing.
Because the times are changing very, very rapidly, funding problems will always accompany the company in the initial growth stage, and sometimes it will disappear if you are slow, so financing is unavoidable.
Bolang took a path that was barely self-reliant.
However, Wen Liang knew that the good times when he could take shortcuts were short-lived, so he would naturally use external funds to buy time.
The part that Bolang lacks most funds is really not building a building, but basic investment.
Including but not limited to the construction of data centers, the transfer of basic R&D projects from laboratories to internal commercialization investments within the company, etc.
After complimenting each other for a while, Wen Liang took the initiative to mention: "Regarding financing, I have a relatively mature and friendly proposal."
"I have always longed for diversified development, so Bolang's current business system is relatively complicated. I want to separate the most valuable Xiaocheng Shu into separate financing."
Hearing this, even Liu Chiping's expression changed slightly.
Everyone was very surprised.
They all knew that Wen Liang kept insisting on setting rules, and they were all waiting for Wen Liang's harsh conditions, but they never thought that this would happen.
Xiaocheng Book is Bolang’s greatest commercial value. This is a generally accepted view!
Wen Liang continued unhurriedly: "Strip away the hot-selling malls that still need to pay for development, the mobile game business whose main equipment and environment are not perfect enough, and other messy things, leaving the main body of Xiaocheng Book.
This is both convenient and easy to calculate the value.”
"Of course, I believe everyone knows that this is Bolang's best asset, so there are some preconditions."
As soon as these words came out, Liu Chiping immediately breathed a sigh of relief.
'This horse riding tastes just right.'
The same goes for Zhang Sanshi, Shen Nanpeng, and Xu Xin. They all think this is the normal rhythm.
Seeing everyone nodding silently and waiting for the next step, Wen Liang didn't delay and directly stated a series of conditions.
"The funds for this financing will be freely arranged by the parent company Bolang."
"The valuation of financing is not calculated based on the price-to-sales ratio or price-earnings ratio, but the pre-investment valuation is calculated based on the value per user."
"The slowest time for capital injection is before July 6, and the agreement needs to be signed on next Tuesday at the latest."
"Bolang has invited Deloitte and KPMG to conduct financial audits and will not accept additional financial seats."
"There is no veto power in financing, only priority, and subsequent financing rounds do not require the signature votes of all investing shareholders."
"No matter how many parties participate in the financing, this new company will only have one strategic shareholder seat in this round of financing."
"This round of financing releases 10% of the total shares."
After talking about all the conditions, Wen Liang stood up with a smile: "That's all the conditions. Let's talk about this for today. See you next time."
Liu Chiping: "..."
other people:"……"
They were all a little uncomfortable because Wen Liang only raised conditions and directly closed the negotiation window this time.
To put it in fashionable terms: my rules are my rules.
They were not given a chance to rebut or make comments at all, but they were given a chance to communicate privately.
Liu Chiping said helplessly: "Wen Liang can really use his advantages to the extreme in face-to-face communication. He always gives people a sense of contradiction. He knows how to consider the interests of the other party first, but he will not let go of the key interests at all, and he will not tell who is the most talented person.
