Tian Jiayi conveniently picked up the business plan for investors that was placed on the table. The subtitle is "New Media Based on Social Mining and Personalization Promotion." The plan explains the six major investment highlights of the product to investors.
The personalized digital media market is about to explode; an original personalized information discovery engine; functions and technologies that are ahead of similar products in the world; industry-leading user stickiness and natural growth; complete product layout and coverage of mobile terminals and PCs; rich capabilities
A team with entrepreneurial experience and technical skills.
These six investment highlights capture the key points while boasting a lot. Especially for the sixth investment highlight, Zhang always described his previous four entrepreneurial failures as having rich entrepreneurial experience...
But it is understandable that Wang Po is selling melons and boasting about herself.
After a while, Tian Jiayi put down the document and looked at Fang Hong and asked: "If it is an acquisition, how do you plan to talk to the founder of Toutiao?"
Hearing this, Fang Hong said calmly: "Let's talk openly about status based on strength. What is the advantage of Toutiao? A personalized recommendation engine based on big data. Although Mr. Zhang boasted that his personalized information discovery engine has original technology, it is still ahead.
There are similar products in the world, but if I throw out Chen Yu’s trump card, how will you respond?”
Of course, it's not really about getting rid of Chen Yu, but the artificial intelligence technology and powerful algorithm development capabilities of Chen Yu's Quantitative Capital. Mr. Zhang's so-called original personalized algorithm recommendation technology is not unbreakable.
Fang Hong continued: "Secondly, if we integrate the rich big data of various platform enterprises under Qunxing Capital, such as Weibo, WeChat, Yixing Video and other platforms, is the scale of the data ecosystem not richer than that of your Toutiao? Faced with this,
My 'Family Bucket' teamed up to surround your headlines, how should you respond?"
After a pause, Fang Hong turned to smile and said: "Finally, the Internet industry has to fight for the ability to burn money. To put it bluntly, it is the ability to burn money. When it comes to burning money, we don't have much else but a lot of money. Your Excellency.
How will we respond?"
Fang Hong's three tortures of the soul are so deadly for today's headlines that no one can catch them.
The beautiful assistant couldn't help but nod: "I understand."
The three tortures of the soul are open and fair discussions based on strength and status. Fang Hong said: "Let Wu Cheng go to Mr. Zhang with these three questions, and at the same time find other investment institutions that have already raised funds in previous rounds to also invest in them."
Ask these three questions. If you think you can handle it, then I will tell you. If you can't handle it, then transfer the equity to me, but the prerequisite is that you must work for the founder of Toutiao to persuade him to sell Toutiao."
The beautiful assistant couldn't help but laugh and said: "What you call 'persuade', can I understand it as pressure?"
Fang Hong shrugged, noncommittal.
If you want to take over the equity held by other investment institutions, of course you have to ask those institutions to put pressure on Toutiao, otherwise it will be in vain to take over the equity held by them but not get control of it.
Therefore, the additional condition is that those investment institutions must do ideological work for the founders of Toutiao, whether it is persuasion or pressure. If they want Qunxing Capital to take over the equity held by their institutions, the premise is that the entire Toutiao is packaged and sold.
It is foreseeable that Mr. Zhang, who is already in trouble, will face great pressure in the future. It is difficult for outsiders to imagine, and there is a high probability that he will not be able to bear it.
If Qunxing Capital fails, Fang Hong’s three soul tortures cannot be solved.
There is a high probability that no investors will provide money for Toutiao's subsequent D round of financing. The risk is too great, and Qunxing Capital has also been slippery in the Internet industry. It is definitely a losing situation in 9 out of 10 cases. It will definitely happen.
Discouraged a large number of investors.
Without the support of capital, Toutiao's crisis cannot be solved if the capital chain is broken, and it may face the risk of sudden death.
At this time, Fang Hong added: "Of course, we can't set the record too high in front of those capital institutions. We will leave a mouthful of soup for them to drink when we eat meat, so that they will work harder and be more willing to do what Toutiao founders do.
Thoughts are working.”
Once the acquisition operation is launched and the three soul tortures are issued, it is directly exposed that Qunxing Capital is very optimistic about this track, and it will also make all capitals more determined about the prospects of this track.
After all, this is a track that Qunxing Capital is optimistic about, and it must gain control. Referring to Qunxing Capital’s past cases in the Internet industry, such as Weibo and WeChat, the answer is self-evident.
We all are not fools. We know it is a good thing and don’t want to sell it, but we are forced to sell it at a cabbage price due to pressure. We must be filled with resentment.
In this case, if you don't even give a sip of soup to other investment institutions, you may be forced to give in due to the current strong power of Qunxing Capital and reluctantly give up a piece of potential fat meat, but you will definitely hold a grudge against this in your heart.
Unsightly eating looks will definitely make the tripper take revenge in the future.
Although Fang Hong is not afraid of offending people, he will not offend people without thinking and make enemies everywhere. It is more beneficial to appropriately share some benefits and achieve his strategic goals more smoothly. This is the wisest method.
Friends, it’s better to have as many as possible.
Of course, those who carry original sin and corruption in the medical field must not be friends with them. Star Capital has no original sin because it has no historical baggage. For this kind of group, it will either become enemies or passers-by, and will never become friends.
After a while, Fang Hong added: "Among the current shareholders of Toutiao, several overseas investment institutions such as Sequoia Capital will have all their equity recovered, while other domestic institutions will allow them to restructure the company when the time comes.
Get on board again, or give them an existing exit mechanism to make a profit on their exit.”
“As for the exit mechanism, Toutiao’s financing this year was not valued at US$500 million. Let’s sell their equity at three times this valuation, which is a premium to the overall valuation of US$1.5 billion. This is not a trap for them.
"
This chapter is not over yet, please click on the next page to continue reading! However, Fang Hong knows in his heart that compared with the valuation that will exceed 100 billion US dollars in seven or eight years, even if it is now valued at a premium of 1.5 billion US dollars, it is still a drop in the bucket to acquire those shares.
At this moment, Toutiao has not yet hatched Douyin, and the short video field has not yet exploded.
Fang Hong continued: "The other way is not to take money, but we reserve a seat for them to get on the bus, pick them up during the last round of primary market financing on the eve of Toutiao's IPO, and complete the boarding before the IPO.
.”
If you choose to get involved again, and if you get involved in the last round of financing before the IPO, the valuation at that time will definitely be high, the return on investment will definitely be far less than it is now, and the equity you will get for the same amount of money will definitely be much less.
Of course, the risks at that time were much lower, and you were basically making money steadily, so the investment costs were naturally high, which is reasonable.
Tian Jiayi couldn't help but say: "If you are so optimistic, then they must have chosen to raise funds on the eve of the IPO before getting on board."
Of course, you can make a lot of money and be safe by taking money directly now, but Star Capital is obviously very optimistic about this battle and wants to invest a lot of money in this track. With reference to those successful cases in the past, anyone who has a little courage and is not so short-sighted
Those who do not will choose to reserve a parking space and wait to board the car on the eve of the IPO.
And those investment institutions must be absolutely convinced that as long as Qunxing Capital wants to list this company, there will be absolutely no problem.
Obviously, if Fang Hong wins the company Toutiao, he will also get it listed on the A-share market. That is why he will ask Sequoia Capital to directly withdraw money.
Although next year Big A will usher in a channel for capital to go north, and foreign investors can invest in A shares, but there is no official announcement yet, so naturally we have to follow the current rules.
Finally, Fang Hong made the final decision: "That's it. Let's arrange for Wu Cheng to lead the team and set off for talks."
