In Xu Yiyang's view, since he wants to ride on Mr. Ma's ride to make money for a long time, he must give him enough, give enough, and give him enough.
He wants Mr. Ma to know that investors like me are angels among angels. I came to see you with only money and no knife.
Ma Huateng also got this signal, he breathed a sigh of relief, and said with great excitement: "Thank you Mr. Xu for your understanding... Mr. Xu, I don't have any problems here!"
In Ma Huateng's eyes, although Xu Yiyang is young, he is indeed more decisive and ambitious than ordinary investors. He is really lucky to find such a straightforward investor.
Xu Yiyang agreed to all the four requests he made, which he did not expect.
While excited, Ma Huateng asked Xu Yiyang: "Mr. Xu, what are your requirements?"
Xu Yiyang smiled slightly and said, "My request is very simple."
As he spoke, he deliberately paused and then said seriously: "First, I want Tencent to have priority investment rights in every subsequent round of financing. In other words, whenever Tencent needs financing in the future, it must come to them first. I invest;”
"At that time, according to the market price of Tencent Financing, if I can afford it and am willing to invest, then I must be the first to invest. If I can't afford it or am unwilling to invest, you can feel free to look for other capital outside. I Don’t interfere.”
Xu Yiyang felt that since he had taken Tengxun's shares, he could not dilute them casually unless absolutely necessary.
At the very least, try not to dilute it before it goes on the market.
That's why he made this request.
According to this requirement, if Tengxun needs 10 million in the next round and plans to sell another 10% of the shares, as long as Xu Yiyang can afford the 10 million, the Tengxun team will not need it and cannot go out to find others. Financing.
In this way, it will not only ensure that Xu Yiyang's own shares are not diluted, but also allow Xu Yiyang to continue to dilute the shares of Tengxun's founding team.
For example, after I invested in the first round of Tencent, the founding team of Tencent held 60% of the shares and I held 40%.
When the 4.8 million is spent, Tengxun will have a second round of financing. The financing target is 10 million and it plans to sell 10% of the shares.
If diluted proportionally, of the 10% shares transferred, Tengxun's founding team should transfer 6% and Xu Yiyang should transfer 4%.
If Xu Yiyang does not participate in this round of investment, then after this round of financing, he will still have 36% of the shares in his hand.
If he participates in the investment, there are two situations.
First, if he only guarantees that his shares will not be diluted, he will use 40% of the 10 million, which is 4 million, to invest in the next round. In this way, his shares will remain unchanged after financing. .
Second, if he still wants to get the second round of shares that the founding team is planning to sell, then he can directly take out 10 million, which is equivalent to investing in the second round himself.
In this way, the 6% of the shares that the founding team plans to sell will also belong to him, and his shares will reach 46%.
Moreover, the right of priority investment does not have any negative impact on Ma Huateng and the Tencent team.
Following the example just now, when they decided to raise the second round of financing, they were already prepared to spend 6% in exchange for 10 million.
Therefore, it is nothing more than giving 6% to whomever will solve the million-dollar problem.
Because it had no impact on him, and Xu Yiyang had just agreed to his four requests so generously, Ma Huateng reciprocated and agreed without hesitation, saying: "Mr. Xu, there is no problem with this!"
"Okay." Xu Yiyang nodded with satisfaction and added: "My second request is that if your existing shareholders have the idea of cash out privately in the future, let me give priority to repurchasing them at the market price."
As the company continues to develop, its valuation becomes more and more recognized, and its shares become more valuable, shareholders will privately sell some of their shares to improve their lives.
This transfer may have nothing to do with financing.
For example, when Tengxun was valued at one billion, Mr. Ma felt that his business had achieved a staged success and wanted to buy a villa to enjoy it, so he planned to sell 2% of his shares privately.
If anyone is interested, just give him 20 million yuan, and the two of them will sign the share transfer agreement privately. It has basically nothing to do with other shareholders. Even on the surface, the 2% is still held by Ma Huateng on behalf of him.
If Ma Huateng agrees to Xu Yiyang's request, then if he has this idea in the future, the 2% shares will also be sold to Xu Yiyang, and Xu Yiyang will also pay him a penny of 20 million.
Ma Huateng only thought briefly for three to five seconds, then nodded simply and said seriously: "Mr. Xu, I don't have any problems with anything you said!"
The reason why Xu Yiyang proposed these two ideas was because he knew that Tengxun shares were worth tens of thousands of dollars.
In his previous life, Li Jiacheng's son Li Zekai invested 20% in Tengxun. Later, when he saw the Internet bubble coming, his brain twitched and he planned to sell more than 10 million US dollars.
Under the influence of the Internet bubble, IDG was no longer optimistic about Tencent and wanted to sell it.
Subsequently, the shares of both parties were basically taken over by the South African Newspaper Group.
Subsequently, the South African Newspaper Group used two methods: co-investment and repurchase, and once became the largest shareholder of Tencent, holding more than 45% of the shares at the highest point.
Xu Yiyang's thinking is very simple. In this life, he will also follow the path of the South African Newspaper Group's investment in Tencent in his previous life.
On the one hand, I must fully support Ma Huateng in running Tengxun;
On the other hand, he must also make every effort to increase his shareholding ratio in Tencent.
In this case, as long as you have enough cash in your hands, you can pursue investment in Tengxun, dilute Ma Huateng's team's shareholding ratio, and increase your own shareholding ratio.
However, for the Tengxun team, financing means diluting shares. To whom does dilution mean dilution
Before investing, many capital boasts that they can bring in resources, but in fact, most pure venture capital cannot provide investors with other resources besides money.
The reason is that they invest in too many projects.
Goldman Sachs may have invested in thousands of companies around the world during the same period.
Just calculating the accounts of so many investments is already a huge workload. How is it possible to expect them to provide other resources besides funds to thousands of companies
The South African Newspaper Group did not bring any resource help to Tencent. Tencent relied almost entirely on operator business and its own value-added services.
If you really want capital to provide resources, don’t take money from pure venture capital, but take money from industry giants.
For example, if JD.com takes investment from Goldman Sachs, all Goldman Sachs can give is money.
But if you take Tencent's investment, you will not only have money, but also resources, such as the traffic portals of WeChat and QQ.
However, it is not easy to get money from industry giants, because if you get it, you have to take sides.
Therefore, in comparison, investors like Xu Yiyang, who are quick, straightforward and generous in giving money, are not necessarily worse than investors like Goldman Sachs and Sequoia.
Anyway, Xu Yiyang also said, if I can vote, I will vote, but if I can't, I will step aside.
Therefore, Ma Huateng has nothing to worry about.
So as soon as the two parties put together a summary, and since they were OK with each other, they started to draw up the contract and signed it directly after it was finalized.
Lawyers on both sides also felt that the terms negotiated by both parties were very reasonable and mutually acceptable. It can be said that everyone was happy.
Even Fang Junhui couldn't help but sigh: "I've followed a lot of investment and financing cases. This is the first time I've seen you two so cheerful. You didn't have any objections throughout the process. It's so straightforward."
One of Ma Huateng's lawyers also nodded and smiled: "It was really neat and tidy, not sloppy at all, and it saved us a lot of trouble. We were originally prepared for a tug-of-war, but we didn't expect it to be so easy."
Xu Yiyang smiled slightly, gestured to Ma Huateng with his palm, and said with a smile: "The main reason is that Mr. Ma's acting style is very straightforward."
"No, no, no." Ma Huateng pushed up his glasses and said sincerely: "Mr. Xu, you are still very generous and don't bargain. This is something I never dreamed of before."
Xu Yiyang smiled and said: "Okay, let's stop complimenting each other here. Let the lawyers touch the contract first, and let's sit down and have a cup of tea."
"good!"
The three lawyers discussed the contract, and Xu Yiyang, Ma Huateng and Zhang Zhidong sat drinking tea on the balcony of the hotel room.
After chatting for a while, Ma Huateng said: "Mr. Xu, we have decided on an Internet cafe promotion plan before, but because the funds have not arrived, we have not promoted it. The first phase of the promotion budget is about 500,000 yuan. We want to pass it. This stage of promotion has allowed OICQ to grow by one million users, what do you think?"
He felt that as an investor, Xu Yiyang had the right to know how he planned to spend his investment money, even if he did not have the right to direct how he spent it.
Xu Yiyang thought for a while and said with a smile: "Half a million users will increase to one million, and the average acquisition cost of a user is only 50 cents. Although I don't know the current acquisition cost of a user, I feel it is still very worthwhile. I have no objection." , Mr. Ma, just decide.”
Ma Huateng said: "Then we will start this plan after we return. At that time, I will report the progress to Mr. Xu regularly."
Xu Yiyang said: "Mr. Ma, you don't need to be so polite. Reporting is out of the question. If you feel it is necessary to share information with me, you can just copy me a copy when you send the email."
Ma Huateng nodded immediately and said, "No problem. I will report to you regularly on the company's operations and the use of funds."
Xu Yiyang smiled slightly and said: "Reporting is out of the question. If Mr. Ma has time, you can share some information with me. If you don't have time, it doesn't matter."
As he said that, Xu Yiyang thought of another thing and asked him: "By the way, Mr. Ma, you named your product OICQ. It should be based on the foreign ICQ, right?"
Ma Huateng nodded and said: "Yes, to be honest, I did draw lessons from ICQ. Even our product was inspired by them."
Xu Yiyang said: "OICQ has not become big yet, so it is good that it has not been discovered by ICQ. But if ICQ knows about the existence of OICQ, I believe they will take action. At the end of the day, both parties will go to court and sue you for infringement."
When Ma Huateng heard this, he felt a little nervous.
To be honest, he has always had a guilty conscience towards ICQ.
After all, he is imitating others, and even his name is 75% similar to others. If it comes to copyright, he should not be able to escape the charge of infringement.
This is like Porsche launching a car called the Cayenne, and Porsche launching a car called the Grand Cayenne. You'll be damned if you don't sue.
So, he looked at Xu Yiyang and asked, "Mr. Xu, what do you have to say about this issue?"
Third update! 73 votes! Great start! Thank you all! ! Keep rushing! ! !
(End of chapter)