Stimulated by the news that Yanhuang Investment had invested RMB 15 billion in Tesla, Zhang Yida had not even gotten excited about his return to China when various projects came to him.
The first one to come is torn onions!
Different from the past, Shi Cong did not ask Zhang Yida to meet at the bar this time, but came to the 50th floor of Ruixiang Building in person.
"Hey, I'm a rare guest, please take a seat!"
Zhang Yida greeted Wang Shicong and asked a young girl from the Administrative Secretariat to serve tea.
Wang Shicong is wearing a hat and a hip-hop style dress.
He let out a long sigh and said, "Let me put it bluntly, Panda Live can no longer survive. Do you have any acquisition ideas?"
Zhang Yida was stunned for a moment, "What's going on? If this business is not running well, why can't it suddenly stop working?"
With your family’s strength, even a sip of milk could endanger your life!”
Wang Sicong shook his head, "It's not that simple. Now the live broadcast pattern has been decided. You and Penguin are competing for hegemony.
As you know, the company also has a shareholder named 360, and Penguin will not accept us.
If you don’t want Panda TV, then we have no choice but to close it.”
Sicong's tone was full of loneliness. Who wants the child he raised to starve to death?
Zhang Yida discovered that there seemed to be something wrong. In his previous life, the panda live broadcast seemed to have been closed on Women's Day.
It's already early May, and the pandas haven't collapsed yet.
He guessed that he started a series of cooperation with Rui Xiang and gave the panda two more months of life.
"What do the people from 360 say?"
Wang Sicong shook his head and sighed, "The thing I regret most now is that I introduced them and joined the team in advance, otherwise I wouldn't have been able to keep a chance to withdraw."
Zhang Yida knew more or less what was going on in Panda Live. He heard that the people from 360 were in charge of the technical department, and there was serious internal fighting between them and the people who were working on it.
Shi Cong is also a person who is used to spending money lavishly. When he first started the company, he used his influence in the e-sports circle and his status as a national husband to poach many popular anchors.
If the company goes uphill, it will naturally be able to support these high expenditures on poaching people.
However, Panda Live’s last round of financing was in May 2017. As of today, it has not raised funds for two years.
In the hot live broadcast circuit, this is extremely abnormal.
If we don’t continue to raise capital and we don’t go public, can our revenue be balanced?
Wang Sicong asked anxiously: "Will you take over? Ruixiang's big entertainment strategy has begun to take shape. If we acquire Panda Live and integrate it, we can definitely rejuvenate it."
Zhang Yida shook his head and laughed, "Too many. We currently have three live broadcast platforms. Tou Rong Hui is also planning to start live broadcast classes on financial management, so that's four platforms."
Why do you think I use so many live broadcast platforms? Should I put them all together for fighting?"
Wang Sicong nodded, indicating that he understood.
After all, he is also a person of status, so naturally he will not beg Zhang Yida.
Forget it if he doesn't buy it, he'll go ask someone else.
"Isn't it just a live broadcast platform? If it collapses, it will collapse. Don't you still have shares in Ruixiang? You can make a lot of money by keeping it."
Price Capital participated in Lilith's investment. When Ruixiang acquired Lilith, Shi Cong converted its shares into Ruixiang's equity.
This is how Zhang Yida’s statement of “holding shares in Ruixiang” comes from.
"I know Ruixiang will not let me down, but..."
Tisha Cong looked like he was hesitating to speak, which made people a little confused.
"What's wrong? Is there something unspeakable?"
Wang Sicong thought for a moment, then confessed, "I signed a gambling agreement and a personal unlimited joint and several liability guarantee for debt financing."
"My good boy!"
Zhang Yida lamented that he did not know that he had been transformed into a "person subject to execution" in his previous life. This happened only one month after he traveled through time. Naturally, he did not understand the story behind the financing of Panda Live Broadcast.
"How dare you sign this kind of agreement?" Zhang Yida asked Shi Cong.
Wang Sicong took a long breath, turned to look at Zhang Yida, and said: "You can't get financing without signing a contract, especially debt financing. Panda Live Broadcasting is not like the industrial industry, which has factories and land, and no collateral, so the actual controller takes the person."
Let’s use the assets as guarantee!”
Zhang Yida nodded lightly. He also signed such an agreement when Huimin Bicycle completed US$1 billion in debt financing.
Are entrepreneurs stupid? No, it’s capital that is ruthless!
Capital is profit-seeking. When it succeeds, it is the icing on the cake. When it fails, it may become the last straw for entrepreneurs.
There is a structure full of tension between entrepreneurs and investors. The two often form a game relationship and engage in silent competition.
From the perspective of investors, there are many examples of entrepreneurs cashing out and leaving, leaving a mess to investors. Signing joint liability is their own protection.
From the perspective of entrepreneurs, unlimited joint and several liability is squeezing entrepreneurs. The money may revitalize the company, or it may be a poison to quench thirst and involve themselves.
"Hey, you are in trouble this time!"
Zhang Yida estimates that this panda live broadcast will not be sold.
At present, the live broadcast industry pattern has been formed. Except for Penguin and Ruixiang, other companies have no courage to enter this industry.
The courage here means that the risk taken is very high, and it may take more than 1 billion US dollars of heavy investment to revitalize Panda.
If it is not revitalized, the money will be wasted, plus the money spent to acquire Panda Live.
However, Ruixiang and Penguin looked down upon Panda, and their business data had already plummeted.
I heard that there is internal strife among the company’s top management, with employees and anchors fighting each other like monks and clockwork.
Buying this kind of enterprise is a burden, and neither Penguin nor Ruixiang will want it.
"Have you ever signed a bet with an investor?"
Seeing that Panda Live could no longer be sold, Xi Cong began to ask questions again.
In his opinion, although Zhang Yida is younger than himself, he has much richer entrepreneurial experience and capital operation experience than himself.
It would be best if Zhang Yida could give him two tricks.
"Why didn't you sign it? I have signed a total of ten or twenty gambling agreements!"
Speaking of this, Zhang Yida became excited, but he still maintained a calm demeanor and spoke in a very calm tone.
This is called invisible pretense, and it’s the most deadly!
Shi Cong was startled, "What is said on the Internet is not true, right?"
"What online?"
Shi Cong calmed down, sorted out his words and said, "The Internet said you won more than ten rounds of betting?"
"Uh... well, this is true!"
Before he could even say "fuck", Zhang Yida stopped him with a gesture, "Calm down, calm down, don't spread the word. We are all shareholders now. If it spreads, it will not be conducive to unity."
Zhang Yida's temperament of "hiding his merits and fame" was shaken by this. He sighed, "Hey, it's easy to win the bet, but it's really miserable to lose!
Tell me, how could there be such a shameless venture capital firm that would ask you to buy back the equity and pay an annual interest of 12% if the investment fails?"
Zhang Yida didn't answer. This was meaningless to him. Why did you go there earlier? Just ask your dad to invest?
If you want to use capital, capital also wants to use you. If you lose, don't blame others.
"I suggest you talk to them and see if you can have the interest wiped off."
The signature was written in black and white, and the panda live broadcast was in such a terrible state. Zhang Yida had no good ideas to rip off the onions, so he could only think of ways to reduce losses.
"We talked about it, but it didn't work."
Shi Cong sneered, "They've decided that if I don't pay back the money, my dad will help me pay it back for the sake of his reputation."
Zhang Yida took a breath, don't say it, it really makes sense.
If you are a grassroots entrepreneur, venture capital can only admit defeat. In a society governed by law, you cannot do anything to others.
It's different when you tear off green onions. The son pays his debt to the father. He hypes you up on the Internet and exposes it. The richest man, Wang, can only hold his nose and repay the money.