Hu Gang scratched his hair. As a PE boss, of course he was no stranger to this term.
It's just that in the past, he, as the capital, forced entrepreneurs to sign gambling agreements.
Now it's the other way around, he represents the entrepreneur, and the employer forces him to sign a betting contract.
Hu Gang looked at Gan Renping who looked moved and asked: "Mr. Gan, what do you think?"
Gan Renping nodded and said: "Yida's suggestion is very good. When entrepreneurs and investors have differences, betting is the best way to resolve the differences.
If Lending Bei dares to sign a bet guaranteeing 80 million daily active users, we can recognize your valuation of 50 billion."
"80 million daily active users." Hu Gang frowned, looked at Zhang Yida, and asked: "Yida, how many daily active users does your Ruixiang have?"
"Between 150 million and 160 million!" Zhang Yida replied.
"If a gambling agreement is signed, how long will it be? When will it be required to reach 80 million daily active users?"
Wang Xiaojie interjected.
"Within a year!" Gan Renping replied.
"What if the bet is not completed?" Hu Gang was more concerned about this.
"If the bet fails, the management of Liandaibei will repurchase our investors' shares at a price of 1.2 times."
Gan Renping made his own conditions.
Wang Lu jumped out and said sarcastically: "If you pay 1.2 times the price to buy back the shares, then we might as well take out a loan. The annual interest rate is not as high as 20%."
Hu Gang and Wang Xiaojie looked at each other, and Hu Gang finally said: "1.2 times is too high, how about 1.1 times?"
Gan Renping shook his head and said: "This plan. On the surface, it seems that our venture capitalists will not lose much, but in fact it is quite the opposite.
Venture capital companies pay most attention to the efficiency of use of funds.
Let’s make a hypothesis: if the bet fails, Liandaibei will compensate us 20% interest, which seems good. But on the other hand, we also missed other high-return projects that were several times or dozens of times higher.
In terms of capital utilization efficiency, we can be considered a failure.
Those who do venture capital mainly pay attention to the rate of return on equity investment, rather than earning interest."
"You can't say that! If you don't invest in Lianbei, can you guarantee that all the other projects you invest in will be successful and high-return projects?"
Wang Xiaojie retorted eloquently.
"From a probability perspective, if you don't invest in borrowing money, the few hundred million you save can be invested in dozens of projects, and the success rate can be greatly improved."
Gan Renping was not to be outdone and began to argue with his arguments.
…
Several people were bargaining and quoting scriptures, making it look like a debate.
Hu Gang turned to look at Zhang Yida and said: "Yida, you said before that you couldn't invest because you didn't have the money. Now that Rui Xiang has just completed US$2.5 billion in financing, there should be no shortage of money!"
"It's terrible! Half of the US$2.5 billion in financing has been spent. We have invested nearly US$1 billion overseas, and added several hundred million US dollars for the second phase of the cloud computing center project.
Then the domestic mobile payment subsidy war continues to increase.
I am also powerless now!"
Zhang Yida quickly complained that loan money was a big trap and he would not invest even if I beat him to death.
Hu Gang looked a little ugly. Didn't everyone have good joint ventures in funds and securities in the past?
Why is it faster to fall out of love than to flip through a book now?
“Yida, if Liandaibei succeeds in this round of financing, we can continue to place advertisements in your financial supermarket.
If we don’t get funding, we may have to significantly reduce our advertising efforts.”
Hu Gang saw that Xiaozhi's love didn't work, so he started to use it to his advantage.
Zhang Yida smiled bitterly, "I just helped you promote four to five million users and earned you one or two billion. Is that what you want?"
Moreover, Ruixiang’s financial supermarket can no longer be promoted now, as users have learned too much.
The model of Liandaibei is: A invites B to register, A and B each receive 20 yuan; B invites C to register, B and C each receive 20 yuan, and A can also receive an indirect promotion reward of 10 yuan.
So Ruixiang only cheated a wave of user recommendation rewards when Jiandu Bei was first launched.
Now users all know how to play. Relatives invite relatives, friends invite friends, and the wealth does not go to outsiders.
Therefore, gradually few users register for loan money through Ruixiang’s financial supermarket, because they will be defrauded of a 20 yuan referral reward.
Seeing Zhang Yida looking embarrassed, Hu Gang stopped asking.
He finally understood that Zhang Yida would never invest or borrow money.
Either he really has no money, or he is very unfavorable about borrowing money. Hu Gang guessed it was the latter.
At this time, Wang Xiaojie and Gan Renping had almost reached an agreement.
Gan Renping insisted on the 1.15 times repurchase condition and never gave in.
Hu Gang finally made his decision and agreed to his gambling conditions.
As soon as the matter was settled, the tense atmosphere just now disappeared, and everyone started to drink and talk happily again.
Gan Renping also felt that he had no losses, and the harvest was guaranteed despite droughts and floods. At worst, he had an annual return rate of 15%.
If the borrowed money grows to the size of Ruixiang and Leech Financial Services, it will make a lot of money.
Hu Gang didn't feel that he was at a loss, and the worst result would be a loss of 15% interest.
The most important thing is that Lending Bay's valuation of 50 billion yuan has finally been supported.
Unlike earlier when I invested with my left hand and my right hand, after the angel round of financing, the company was valued at 22 billion yuan. That kind of valuation would not be recognized by the outside world at all.
However, Qiming Venture Partners, as a first-tier venture capital, can undoubtedly provide a strong endorsement for Lianhebei’s valuation of RMB 50 billion by investing in the company.
This valuation is a solid one.
Zhang Yida sighed secretly, the gambling conditions were not harsh enough! He originally wanted to dig a big hole for Handing Group, but it turned out that the hole was not deep enough.
It only repurchased the equity at a premium of 15%. It would be great if it was 150%...
…
"Mr. Zhang, Yi'an Insurance has responded and agreed to our investment," Lan Lanhui reported.
"Oh, how many shares are they willing to give up? If it's too little, forget it."
Zhang Yida attaches great importance to insurance licenses. Whichever insurance company is directed to the huge financial flow will achieve rapid development.
Because of this, Zhang Yida was unwilling to let Ruixiang become a minority shareholder of an insurance company.
You must become a major shareholder of an insurance company to maximize your benefits.
"15%, tied with Yin Zijie as the largest shareholder." Lan Lan replied.
A smile appeared on Zhang Yida's face. It seemed that the shareholders of Yi'an Insurance were all sensible people and knew the benefits of Ruixiang's investment in taking them to play with him.
The China Insurance Regulatory Commission stipulates that when a Chinese-funded insurance company is established, the shareholding ratio of a single shareholder cannot be higher than 20%, but after three years of investment, the shareholding ratio can be increased to 51% if certain conditions are met.
Therefore, investing in Yi'an Insurance to obtain 15% of the shares is only the first step. Three years later, Zhang Yida will definitely find a way to increase the shareholding ratio.
Zhang Yida thought for a while and said: "In this case, you arrange for me to meet with several of their original shareholders. There are some things that need to be communicated in person."
…
"Mr. Cheng, I've admired you for a long time!"
Zhang Yida flew to Pengcheng and met Cheng Xiangjun, the chairman of Yin Zijie, the company's largest shareholder, at Yi'an Insurance Company.
Cheng Xiangjun, who was in his 50s and had a round face, held Zhang Yida's hand tightly and said with a smile: "Welcome Mr. Zhang to Pengcheng! We are also half colleagues, so we need to communicate more!"
As the chairman of a GEM listed company with a market value of 10 billion yuan, Cheng Xiangjun has a very measured attitude. He neither pretends to be big in front of Zhang Yida nor overly humbles himself, but puts both parties on an equal footing.
in position.
Yinzijie is a listed company specializing in banking software. It was founded in 1998 and registered on the GEM in 2010.
Tiance Technology and Yinzijie are competitors to some extent.
However, there is not much overlap at present. Tiance Technology mainly focuses on the output of risk control technology for Internet finance, while Yinzijie is mainly exporting traditional technology to banks, and has not yet involved risk control systems.
"Yes! We are also traveling together! We should be so close to each other."
Zhang Yida had some familiarity with Mr. Cheng in his previous life, because Yin Zijie mainly built systems for banks, so when Internet finance became popular, he frequently took advantage of the popularity of Internet finance and created "mutual finance concept stocks".
It can be seen that Mr. Cheng is a very profit-seeking businessman.
Zhang Yida shook hands with several other shareholders of Yi'an Insurance one after another. They are all relatively wealthy entrepreneurs, otherwise they would not be able to become shareholders of the insurance company.
But in terms of net worth, the person with the highest net worth is Zhang Yida, followed by Cheng Xiangjun.
After a group of people sat down, Zhang Yida said: "I came to Pengcheng today mainly to meet with you and talk about the future development direction of Yi'an Insurance."
Cheng Xiangjun nodded and said, "Yes, we are about to open the business. It's time to make a careful calculation."
Zhang Yida added: "Yian Insurance Company is one of the few Internet insurance companies with an online sales license.
All our business processes, including sales, compensation and other aspects, can be conducted online.
Therefore, if you want to maximize the value of this Internet insurance license, you must have a traffic platform to support it.
Ruixiang's TouRongHui APP has 400 million registered users, which is very suitable for this business carrier."
"Well, not bad, I support it!"
"Is it to list insurance products like Alipay? This is a good idea and I support it."
Several shareholders of Yi'an Insurance have spoken out to support Zhang Yida's idea.
In the eyes of several of their small shareholders, following Ruixiang is undoubtedly very promising.
Relying on Ruixiang's huge traffic pool, they seemed to see bright days in the future. Premium income increased year by year, and the equity in their hands became more and more valuable.
"I support it too! What is the cooperation method between Yi'an Insurance and Toulonghui? How to calculate the cooperation rate?"
Cheng Xiangjun was the last to support and also raised his own questions.
There is no such thing as a free dinner, and he doesn't believe that Rui Xiang diverted money to Yi'an Insurance in vain.
"Cooperation fees must be charged."
Cheng Xiangjun knew this would be the case, but he heard Zhang Yida say: "But... we can give you the best price."
"How much discount can it get?" asked a small shareholder.
Zhang Yida glanced at him, smiled at everyone and said, "That depends on the sincerity of the bosses."