"Hello, Mr. Zuckerberg. Mr. Edward and Mr. Andrew."
Shen Fang and Xiao Ma shook hands with the three of them with smiles.
The three Facebook founders shook hands with Shen Fang and Pony Ma very respectfully. They had heard of Shen Fang and Pony Ma in the United States, especially Pony Ma, the creator of Tencent, the instant messaging tool with a user base of 100 million. In their tech-driven internet circle, they were considered top figures.
Shen Fang smiled and said, "The dishes are all served. Let's eat and chat."
We ate Western-style steak. Although it's said that we should eat some local specialties since we have friends from afar, today we're here to discuss business, so we should still cater to our foreign friends.
Shen Fang picked up his wine glass and looked at Zuckerberg: "Please tell me more about your child."
Zuckerberg put aside his contrasting expressions and looked at Chen Fang and Pony Ma.
"The Facebook model can also be called the SNS model (Social Networking Services), which is an internet application service designed to help people build social networks, that is, to establish a network social service platform. It is similar in nature to Tony's penguin service."
However, there are also significant differences. On the Facebook platform, users can create their own dedicated space where they can share their photos, personal interests, and snippets of life. They can find, connect with, and interact with friends nearby, play various online games, experience countless applications and services offered by various developers, and even conduct online transactions. Crucially, everything here is basically real, and almost everything is free.
It's like everyone has rebuilt a family on the internet.
Secondly, there's its interactivity. On Facebook, because everyone is a familiar friend, we have specialized algorithms and real-name authentication technology, so the information received is mostly authentic, which makes users feel secure and enjoyable. At the same time, the internet is no longer a "virtual" space, but has become another version of real life. In this version, communication and interaction are sometimes more efficient and more personal.
Currently extremely popular on American university campuses, Facebook's success stems from its simplicity, practicality, and word-of-mouth marketing. This is one of Facebook's core competitive advantages. The Facebook website is very simple, from its page design to its functions, making it easy for users to get started. Furthermore, Facebook is essentially a communication platform. As a communication platform, it can efficiently disseminate information, which is highly practical. On the other hand, as a communication platform within a circle of friends, it naturally facilitates word-of-mouth marketing, and the more people use the platform, the more engaged and loyal users become.
Shen Fang smiled at Zuckerberg: "Zuckerberg, in theory, with Facebook's current user base and traffic, you should be able to generate profits quickly. Why haven't you done so?"
"Mr. Shen, Facebook doesn't want to excessively pursue advertising, but rather focus on meeting the needs of its users. Because what netizens hate most is the disruption caused by advertising. The success of all internet companies should be based on secondary sales; only by truly gaining the favor and affection of users can those user-targeted advertising sales be effective."
Shen Fang and Xiao Ma exchanged a glance. The young man was still not telling the truth.
Ma Ge looked at the young Zuckerberg and said, "Do you not want to pursue things too much, or do you want to raise the fish until it grows big and then harvest it little by little? It's very good that the young man understands the principle of not exhausting the resources at your age."
"Furthermore, many people on Facebook choose to use their real identities, which increases the website's stickiness and value. In fact, we at Tencent are also preparing to develop similar real-name online dating apps."
Zuckerberg's eyes lit up: "So, Mr. Shen and Mr. Tony are willing to invest in Facebook?"
Shen Fang smiled and said, "If I didn't mean it that way, why would I have asked you to come all this way? Not only to invest, but to invest heavily, including subsequent development plans, background checks for listing, and business support? I will help you with all of that. I have many friends in North America."
So how much are you planning to invest?
Shen Fang's lips curled up slightly: "One price, 15 million US dollars, for 20% of your shares. In addition, we have priority investment rights for subsequent A-level, A+, B-level, and B+ levels."
The other two founders were overjoyed. $15 million!!! Doesn't that prove they've succeeded?!
Zuckerberg was also happy, but he was more concerned about the later-stage financing that Shen Fang mentioned, as well as the 20% stake. Although Shen Fang did offer a lot of money, he felt uneasy about taking away so many shares from him.
"We only want shares; the right to speak and the final decision-making power will be given to you to manage."
Zuckerberg was relieved to hear this; as long as they didn't interfere with his work, a 20% stake was negotiable.
“Chen, isn’t 20% a bit too much? And I also want to ask you why you think Facebook will have multiple rounds of financing later on?”
Shen Fang smiled and said, "15 million in real money is an astronomical price even among investment banks around the world. The reason we're giving you such a high value is because we're in the same industry, we understand its potential, and we believe in your abilities. A 20% stake isn't that high."
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