Lu Yunhao saw such a luxurious office for the first time.
It is located in the most prosperous area of Shanghai, but it has a large office area of nearly 200 square meters. The entire outside side is covered with floor-to-ceiling windows. Looking out, there is a magnificent view of the Huangpu River.
You must know that the land here is very expensive, but it is still a very big deal to use such a large area to build an office for high-ranking officials.
Fang Ping looked at the shocked short fat man in front of him, smiled slightly, stood up and said, "Mr. Lu, please sit down quickly."
With that said, the person stood up from behind the large desk and walked to the sofa in the reception area next to the floor-to-ceiling window.
Lu Yunhao nodded dullly and walked over, his eyes looking everywhere uncontrollably.
Fang Ping saw all this in his eyes. He was a top student who went abroad to study for a Ph.D. in the 1990s. He stayed in the United States for nearly ten years before returning to China to follow IDG's business in China.
Because he is a high-level intellectual and has drank foreign ink, Fang Ping can be regarded as one of the most well-informed among his peers. He has been hanging around in the capital circle for many years, although he is now being suppressed by a foreigner in IDG Greater China. On the upper end, but he can be regarded as a Chinese who has done well in the capital circle.
Precisely because of his relatively high status, Fang Ping had seen too many enthusiastic young people in their early thirties like Lu Yunhao. When these people approached him for investment, their eyes were full of desire and expectations for the future, as if he was the one. The key to reaching the top of their lives.
The same goes for Lu Yunho.
At his age, most people have stabilized and their pursuit of the future is no longer so urgent. However, for people with dreams, it is actually very embarrassing that Sanjuro was still high or low when he was young. Things, if you want to take another step forward, it is as difficult as reaching the sky.
Therefore, when Lu Yunhao came to Shanghai this time, he had one thing in mind: to get investment from IDG!
Fang Ping invited Lu Yunhao to sit down on the sofa and said with a smile: "Mr. Lu, oh no, Teacher Lu, I have admired you for a long time!"
Lu Yunhao wiped his sweat and said hurriedly: "Don't take it seriously, don't take it seriously, I've been famous for you for a long time!"
In fact, Lu Yunhao had never heard of Fang Ping at all, but the courtesy was still indispensable.
Fang Ping said with a smile: "We received Teacher Lu's PPT and immediately held a meeting to discuss it. There are some issues that we want to discuss with you in person, Teacher Lu, so we asked you to come from Yanjing in such a hurry."
Lu Yunhao nodded and asked hurriedly: "Mr. Fang, I wonder what your company thinks of my business plan?"
Fang Ping said: "First of all, we agree with your idea. Now, building a food delivery platform with Li Mu's style is indeed a good opportunity to catch up."
Lu Yunhao said quickly: "Li Mu is very good at what he does. The business model he creates generally does not give others the opportunity to plagiarize or imitate, because he leads from the start and runs faster than anyone else, so those who are chasing Makino Technology Almost all those who committed plagiarism were dragged to death by Li Mu’s speed and strength.”
Speaking, Lu Yunhao added: "However, I think the O2O that Li Mu is doing now is different, at least it is different from the Internet projects he did before."
Fang Ping deliberately asked: "Actually, Taobao is also an O2O model, which is an online-to-offline model. Why has no one imitated Taobao?"
Lu Yunhao thought for a while and said: "O2O is online to offline. According to the concept formulated by Li Mu, its service providers and service objects may be only within five kilometers. It is different from Taobao. Taobao's service providers and service objects theory It can be done as far away as possible within China, and no matter how far the distance is, it can be left to logistics, but takeout is different. Takeout cannot be left to logistics. In order to ensure the quality of the service, it must be completed within half an hour. Therefore, Li Mu himself has no shortcuts. He also has to expand city by city. So in this case, although Li Mu is running at the front, he himself cannot go faster. This is for us to catch up with him. Opportunity."
Fang Ping nodded approvingly.
He understands the truth, he just wants to know Lu Yunhao's thoughts and attitude.
Then, he asked: "Teacher Lu, if you were asked to compete with Li Mu, where do you think you would start?"
Lu Yunhao said without thinking: "Shanghai! It must be Shanghai! Shanghai is the largest city in mainland China and the city with the best economic development. Li Mu puts his business starting point in Yanjing, so we will put it in Shanghai. It must be in Build a strong base and fortress in Shanghai, and then start from Shanghai and spread to the surrounding areas."
Fang Ping asked again: "What if Li Mu regards you as a strong rival and immediately starts to compete with you in the Shanghai stock market after you start?"
Lu Yunhao said: "It doesn't matter, it's like playing backgammon. If the chessboard is small, Li Mu might be able to completely block me, but the entire continent is so large, with so many cities and so many people, how can he possibly block me?"
After that, Lu Yunhao added: "Of course, if you have enough money, you can counter-encircle and suppress Li Mu. Otherwise, once you compete with Li Mu head-on, it will be really difficult if you don't have enough ammunition."
Fang Ping smiled slightly and said, "It just so happens that we at IDG are very interested in the food delivery platform project. If we invest, we will definitely give the investee enough ammunition to support him in truly creating a business."
Regarding food delivery platforms, Wall Street now has two ideas:
The first one is to disgust Li Mu, give him some color, and let him know that Wall Street is super powerful. Once he is on the opposite side of Wall Street, it is equivalent to establishing a powerful enemy for himself.
Second, Wall Street itself is not profitable and cannot afford to be early. The development potential of the food delivery platform is huge. Once a sufficient user group is cultivated, it will definitely be able to make money. Maybe it will become a big company with hundreds of billions of dollars. In the market, if you invest tens of millions first to occupy a pit, if you do whatever you do, you may be able to increase it dozens or hundreds of times in the future. This is a future trend, and Wall Street is naturally not willing to miss it.
Based on these two ideas, Wall Street has already decided to invest money in Lu Yunhao, allowing him to represent himself and rush to the stage to compete head-on with Li Mu.
However, the only problem before investing is to negotiate the investment conditions with Lu Yunho.
Therefore, Fang Ping asked Lu Yunhao: "Teacher Lu, if you were to do this, how much money do you think you would need?"
Lu Yunhao smiled slightly and said, "I think to do this and compete head-on with Li Mu, the starting capital requirements will be very high."
Lu Yunhao also knew very well that asking an investment institution to invest as little as 200 million yuan in a layman with no entrepreneurial experience was simply a fantasy.
Generally speaking, investment institutions will split the investment amount into multiple times, which can not only avoid risks to the maximum extent, but also strive for maximum benefits for themselves.
For example, if Lu Yunho wants to build a food delivery platform, since he has no experience and no team, first giving him an angel round valuation of 5 million US dollars is already sky-high, and then investing him with 1 million US dollars in angel investment, accounting for 20% of his investment. % shares.
Let Lu Yunhao spend this million US dollars first. If the trend looks good, even if the one million US dollars cannot be earned back, the capital will be happy to make additional investments.
In this way, when Lu Yunhao raises Series A again, the valuation may increase to about 20 million US dollars, and capital can invest another 4 million US dollars in him, diluting 20% of his shares.
When the money from the A round is almost spent and Lu Yunhao's project is running well, he will start the B round of financing, or the A+ round of financing. The valuation of this round may be increased to 50 million US dollars or even higher. At that time, if the capital invested another 18 million US dollars, it would basically achieve absolute control.
Most founders of companies will hold fewer shares as they go on, which is the result of constant financing and dilution.
For example, the two bosses Ma in the previous life did not hold more than 10% of the shares in their companies. This was caused by continuous dilution of capital.
Lu Yunho is smart because he is more of a thief than most people.
A chicken thief is one who can accurately see where other people's pain points are, and then use his fat and powerful fingers to poke at the other person's pain points.
For example, now, he knew that if he directly asked for 20 million US dollars, Fang Ping would probably ask him out, so he vaguely said that the funds needed would be very high.
If the financing is normal, the angel round relies on project creativity, a valuation of five million US dollars and an investment of one million US dollars are already very impressive, but Lu Yunho hopes to be able to take a big shot.
Immediately, he said to Fang Ping: "Mr. Fang, to do a project like this, you need to be very resourceful and fast. Li Mu has already started, and now they have enough funds to catch up. The chance of catching up is very high, but if we want to If you raise funds bit by bit and repeatedly, the project will probably be delayed by the financing process."
As he spoke, he explained: "You see, this project is like driving on a road. If you have enough fuel and drive non-stop, you will be able to achieve the best results. But if there is not enough fuel in the tank, every time you drive, you will be able to achieve the best results." After driving for 100 kilometers, you have to go to the service area to refuel. Every time you refuel, you must first tell the fuel supplier about your road conditions, working conditions and consumption in the previous stage. No one can afford to waste this time."
Financing is a tedious process. Before each financing, interviews, road shows, due diligence and audits are indispensable. Only after these are completed can the investment agreement and payment be made. This will indeed waste a lot of time.
Fang Ping knew this very well, but he also knew what Wall Street thought. More money could be given, but more shares must be obtained from Lu Yunhao.
So, he smiled slightly and said to Lu Yunhao: "Mr. Lu, we can invest 10 million US dollars in you first, but our requirement is that our shareholding ratio must not be less than 60%, and we must retain the voting rights of these shares .”
When he heard about ten million US dollars, Lu Yunhao was excited. He couldn't believe that he would have such a day. Someone was willing to invest ten million US dollars in him and let him manage a big project!
Just when he was ecstatic in his heart, he suddenly thought of a logic. Only by making this thing as big as possible and making its valuation higher and higher can he really make money. Otherwise, it is a garbage company, even if he has 100 What is the significance of % shares
Therefore, the number of shares is not a big problem for him, but in his opinion, the height of the start really determines how far the game can go.
So he thought for a moment and said to Fang Ping: "Mr. Fang, I am a person who wants to do things. Although the terms of the offer you mentioned are very good and the shares reserved for me are also high, for me, the chance of success is not high enough." big."
Fang Ping asked him: "What do you think will have a high chance of success?"
Lu Yunhao said: "I think that to do this, you need to start with 20 million US dollars, otherwise the winning rate will be very small, so I am willing to give you 80% of the shares in exchange for 20 million US dollars of angel investment. The only requirement is that within two years , you are not allowed to use your absolute controlling rights to replace the CEO!"
(End of chapter)