Because he couldn't believe Xu Yiyang's authenticity, Ma Huateng immediately checked his login IP and found that it was Yingzhou City, Qilu Province.
He couldn't help but frown, feeling as if he had never heard of this place...
Then, he checked the national map hanging on the wall, and after searching carefully for a long time, he finally found the word Yingzhou.
Taking a closer look, I found that Yingzhou was really small and pitiful.
This kind of place has probably not even given birth to a few Internet cafes yet. Why would it give birth to an Internet investor
He then opened the backend and queried all the logs of Xu Yiyang's account from the user database.
The log shows that this number has been registered for two months and has been logged in from the same IP address and has never changed.
Could it be that after more than two months of use, he became interested in OICQ
This is possible.
However, at this moment, he suddenly had an idea, and a thought came to his mind: Do you want to check his background records? See what kind of person he is
The next second, he hurriedly gave up the idea.
No, it goes against professional ethics. As a platform operator, I should protect the privacy of users.
However, he soon became entangled again.
This was the only time that an investor took the initiative to find me.
If you miss it, wouldn't it mean that you just missed the chance of survival
But if you blindly trust the other party and send the business plan, doesn’t it mean that you have leaked the secrets of the company and products
After all, the investors I usually find are all well-known in the industry, and they meet face-to-face offline without worrying about having their ideas stolen or secrets leaked.
And this time the "investor" is just an anonymous person who suddenly appeared on the Internet. Who knows who is hiding behind the computer screen and typing
Just like these vest numbers, behind every vest number is a sad and helpless story...
After much deliberation, he decided to quietly take a look at Mr. Xu's chat history and analyze the details to see if he was an investor.
So, he hurriedly retrieved Xu Yiyang's chat records with everyone on the server since he registered, and then read them one by one, one by one.
After reading a few articles, the worries deep in Ma Huateng's heart disappeared without a trace.
Xu Yiyang's account has been chatted with more than a hundred netizens. Everyone was added randomly, and when others asked him about his profession, he always said that he was an investor.
Moreover, he has told other netizens more than once that he is optimistic about the software OICQ and is interested in investing in this company.
But those netizens did not believe him, and many people even ridiculed him.
Now it's finally confirmed.
Ma Huateng breathed a sigh of relief. From the traces of use that Xu Yiyang had left tirelessly for more than two months, he judged that Xu Yiyang must be a real investor.
It was these chat records that allowed him to dispel all his doubts.
So, he immediately opened his mailbox and sent Tengxun's business plan to the mailbox designated by Xu Yiyang.
Due to the slow internet speed, Ma Huateng curiously asked Xu Yiyang during the sending process: "Mr. Xu, I wonder how much large-scale investment you are planning to make? What is the approximate share requirement?"
Xu Yiyang said: "If it is for start-ups, I would not accept the transfer of less than 30% of the shares."
The implication is that if I want to invest in you, you must prepare at least 30% of the shares for me.
Ma Huateng was a little surprised. At this stage, OICQ is not favored by the outside world, so investors have almost no interest. They are not even willing to invest, and they are even less likely to hope to hold a higher ratio.
But for him, although this ratio is high, it is not unacceptable.
The constant hardship and cold treatment have also indirectly reduced his confidence in the company and its products.
In his plan, at this critical moment of life and death, he and his team could accept the transfer of 40% of the shares to the employer in exchange for enough funds for OICQ to survive and continue to develop until he could find a suitable profit model.
So he said to Xu Yiyang: "Mr. Xu, the ratio is easy to say. Please take a look at the business plan first. If you feel interested, we can talk about the valuation issue first."
In fact, Tengxun’s first financing was to sell 40% to the capital.
IDG and Yingke Digital respectively invested US$1.1 million, each accounting for 20% of Tengxun's shares.
After conversion, Tengxun’s valuation at that time should be US$5.5 million.
However, that was after Tengxun survived the difficult period in 1999.
Just this year, Tengxun was in a dilemma of not even having 10,000 yuan in its account and almost died. Although he didn't know the specific stage, Xu Yiyang was sure that Ma Huateng must be extremely short of money now.
He wants to sell OICQ for 3 million yuan this year.
Therefore, Ma Huateng's own ideal valuation of Tengxun at this stage should not exceed 10 million yuan.
Xu Yiyang downloaded the business plan in the email, opened it, and took a rough look at it.
The front is an introduction to the team of Tengxun. Ma Huateng, Zhang Zhidong, and Xu Chenye are all well-known founders of Tengxun.
Then came the product introduction of OICQ. Xu Yiyang quickly skipped the introduction of functions and highlights and focused on the existing user data.
The business plan shows that as of June 1999, OICQ had 620,000 registered users and 6-7,000 daily active users.
Ma Huateng expressed in the plan that he is confident that after the funds are received, he will quickly increase the number of registered users to two million and have daily active users exceed 20,000.
However, in terms of profitability, Ma Huateng wrote very vaguely. Maybe he himself has not yet figured out how OICQ can make profits.
He just gave a general range. For example, after daily active users exceed 20,000, advertising revenue should see a good improvement.
But this is just an expectation without any data or cases to support it.
At the end of the plan is the financing plan.
In this plan, Ma Huateng hopes to sell 20-40% of the shares at a valuation of no less than 15 million.
After Xu Yiyang read it, he directly said to Ma Huateng on OICQ: "Mr. Ma, to be honest, the valuation of 15 million is a bit high."
Ma Huateng also blushed a little and replied: "If Mr. Xu is really interested in investing, we can discuss the details further."
Xu Yiyang said: "Mr. Ma, I estimate that the lowest valuation in your mind should be less than 10 million, right?"
Ma Huateng's heart skipped a beat.
JeremyXu's judgment is indeed accurate.
The valuation of 15 million is just the first offer.
After all, every investor will bargain, so he must first quote a certain premium and leave it to the other party to bargain, so as to leave a certain buffer and fight back and forth with investors.
However, don’t panic if someone guesses your price.
Although 10 million was acceptable, Ma Huateng decided to try his best to fight for it, so he replied: "Mr. Xu, the valuation of 10 million is indeed too low. My psychological price is around 12 million."
Xu Yiyang said at this time: "Mr. Ma, I am indeed optimistic about OICQ, and I do want to invest in your project. Good projects do require more money to incubate, so if you say 12 million, I will not bargain with you. But my requirement is that 40% must be transferred to me, and I have the priority investment right in every subsequent round of financing for Tengxun.”
Ma Huateng didn't come back to his senses.
What the hell, do you agree
The valuation is RMB 12 million, and 40% is sold. In other words, he is willing to invest RMB 4.8 million in Tengxun
4.8 million is enough for everyone to solve the current dilemma!
Moreover, this indeed exceeded his expectations for Tengxun at this stage.
If someone offered 3 million to buy OICQ in a package now, he would agree without hesitation, let alone invest 4.8 million with a valuation of 12 million!
In fact, if you don't look at it with hindsight, most people will not realize that they have made a loss when doing business.
Think about that year, it took Laszlo Hanyec four days to finally find a "fool" who was willing to accept him for two pizzas in exchange for 10,000 Bitcoins.
Two pizzas were worth at most $100, but a few years later, 10,000 Bitcoins peaked at $160 million.
A few years later, Laszlo Hanyec must have regretted the sale, but at the moment of selling, instead of feeling that he had suffered a loss, he felt that he had taken advantage.
The same goes for Ma Huateng at this time.
He doesn't feel at all that selling 40% of the shares for 4.8 million is too much of a loss.
On the contrary, I feel that the 4.8 million is simply to save lives, and it far exceeds my expectations.
Ma Huateng couldn't restrain his excitement and asked Xu Yiyang: "Mr. Xu, are you serious?"
Xu Yiyang said: "Of course, I have tried to use OICQ these days, and I think this software is indeed interesting, and I am optimistic about its future. Although 4.8 million is a lot, in my opinion it is still worth the risk."
Ma Huateng burst into tears of gratitude deep in his heart.
This is not only because of the 4.8 million, but also because he has received recognition from investors for the first time.
So, he said: "Mr. Xu, when do you have time? We can meet and sign the contract."
Xu Yiyang couldn't wait to fly there tomorrow, so he didn't delay and said: "I'll check the air tickets tomorrow and go over to meet you as soon as possible."
Ma Huateng couldn't help but ask: "Mr. Xu, where are you coming from?"
Xu Yiyang said: "Qi Lu."
Ma Huateng asked: "Mr. Xu, do you have a special zone border defense permit?"
"No." Xu Yiyang then remembered that not everyone can go to Shenzhen City if they want to, and they need to apply for a special zone border defense permit.
Thinking of this, he said to Ma Huateng: "Let's do this. We will meet in Guangcheng with our lawyers. After discussing the details of cooperation, I will transfer the money directly to your company's account."
Guangcheng is the capital of Guangdong Province and is very close to Shenzhen City.
Although Xu Yiyang couldn't go to Shenzhen City, it was very convenient for Ma Huateng to come to Guangcheng.
Ma Huateng did not hesitate and immediately agreed, saying excitedly: "Mr. Xu, tell me after you confirm your ticket, and I will go to Guangcheng to meet you immediately!"
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(End of chapter)