'With superb skills and strong waist strength, the wild horse yearning for freedom succumbed to the power of the big brother.'
'Reward: Insight.'
Compared to the lipstick marks left on my neck, the reward for two hours of training is really good.
'Sharp Insight: Have stronger observation and keen insight, see through the surface to get the truth.'
This reward is a bit like 'face reading,' observing the target through micro-expressions, body language and subtle changes in emotion.
Li Zhenyu can see through a person's true feelings and thoughts. "Is this an alternative version of mind reading?"
Claire didn't know that he was distracted again, so she walked around him to make sure there were no flaws.
At her urging, the three of them walked towards the stairs. There were separate rooms on both sides of the long corridor.
Under the soft carpet, the wooden boards creaked.
The lewd sounds coming from the doors on both sides made Li Zhenyu's smile even more unbridled.
It turns out that Zuckerberg is also a big player.
"Mark." In the room covered with red carpet, the two saw Zuckerberg playing Super Mario.
"Hi, Claire." Putting down the controller, Zack looked at Li Zhenyu and said, "Is this your BOSS?"
"Lee Jin-woo comes from the most powerful family in South Korea, and he is a business genius."
Just as Li Zhenyu would get intelligence about the attendees, Zuckerberg also did his homework.
His background, Quanzhou Li’s influence in South Korea, his personal career and his actions on Wall Street.
This also includes the fact that he himself is the major shareholder behind Universal Investment.
Zhao was just a puppet he pushed to the front.
"Zhao, welcome." Raising his hand to greet them, Xiao Zha asked them to sit anywhere.
All the sofas on site were replaced with chairs and sofas with more fashionable elements.
Li Zhenyu chose a 'palm' style chair and sat down. "Zack, how much money are you going to ask for in this round of financing, and how many shares can you offer?"
Facebook's angel round took place in 2004, with Peter Thiel and Reid Hoffman investing US$500,000 and holding a 10% stake.
The A round was in 2005, and this time Facebook received 12.7 million.
In April 2006, Facebook received $27.5 million in Series B funding, with a valuation of over $550 million.
Round C, that’s now.
In October 2007, Microsoft invested US$240 million, accounting for 1.6% of the shares, and Facebook's valuation exceeded US$15 billion.
In November, Li Bancheng invested US$60 million, accounting for 0.4% of the shares.
In early 2008, European Founders Fund invested $15 million.
In March, Li Bancheng invested an additional US$60 million, increasing his shareholding ratio to 0.7%.
If Claire's information is correct, after tomorrow's financing meeting, the C round will be terminated.
Whether there will be a D round before the IPO is still unknown.
Facebook has grown too rapidly, and the rate at which it is burning money is directly proportional to its growth.
The faster you develop, the faster you burn money.
No one dares to assert that this money can last until Facebook goes public...
Since he had already asked, Zack told him the conditions straight away.
This time, he will offer 1.2 percent of Class A shares with a reserve price of US$240 million.
The investment amount is comparable to Microsoft’s, but the equity ratio is vastly different.
Less than 8 months passed, and in between, Li Bancheng emerged.
The speed at which Facebook's valuation has increased is an understatement, if you say it's like riding a rocket.
Moreover, this is just the reserve price. The actual price will definitely be higher than 240 million.
As for the so-called Class A shares, we have to mention Facebook’s unique dual-class equity structure.
During the financing period, the issued equity is divided into two types: A/B, which have the same rights but differ in voting ratio.
Normally, each share held by a shareholder counts as one vote, and the number of votes a shareholder has is equal to the number of shares he or she owns.
However, the dual-class share structure amplifies this right infinitely.
The voting rights of Class A shareholders remain unchanged and they still enjoy the rights they deserve.
Simply put, ten Class A shareholders holding 1% of the shares together have the same number of votes as one Class B shareholder holding 1%.
In addition, in order to ensure absolute control over the company, co-founder Sean Parker came up with an idea to add a voting proxy agreement to the dual-class share structure.
Before listing, all investment institutions and individuals must sign this agreement with Facebook before entering the market.
The core content is to agree to authorize Zach to vote on behalf of shareholders' shares in "certain" specific occasions where shareholders need to vote.
This agreement completely guarantees Zack's absolute control, even if his personal shareholding ratio drops to 1%, he can only rely on the voting rights held by proxy.
He still has strong influence and decision-making power within Facebook.
"Are all those present today invited?"
"No, only you... and a few others."
The heavy breathing almost made Li Zhenyu excited.
"Only Class A shares, no Class B?"
“Class B shares are only issued to the founding team or outstanding contributors to the company’s operations.”
Zach told him in a tactful way, 'Absolutely not.'
The emergence of Class B shares was intended to ensure his absolute control over the company.
It can be said that it was tailor-made for him from the very beginning.
How could it be issued? In his opinion, no one should raise such doubts in front of him.
Class B shares?
That is my private land, my...
"Outstanding Contribution. I thought it was only awarded to the founding team."
Li Zhenyu smiled thoughtfully, as if he was really thinking about Class B shares.
This made Zack unhappy, and his eyes looking at Claire also conveyed this dissatisfaction.
Claire smiled bitterly in her heart. As the introducer, it was not her fault.
Besides, since there is an A/B distinction, why can't others even ask a question?
This young man is too stingy and domineering.
Claire's impression of him also dropped a few points.
I thought that entrepreneurs who could change the future would be very different from ordinary people.
Now……
She just wanted to say, 'Everyone is equal in the face of money.'
No one is nobler than anyone else, and no one is more hypocritical. Everyone is trying their best to play their role in the hope of getting a bigger piece of the pie.
At this moment, Li Zhenyu's eyes were full of concentration as he thought, and he also noticed that something was wrong with Xiao Zha.
"Sorry, something interesting just occurred to me...Zach, do you like hunting?"
Li Zhenyu laughed out loud and turned the topic to hunting.
He didn't mention anything about what he just said, as if he had never thought of buying Class B shares.
Before seeing Zach's expression, Li Zhenyu had already made a decision.
INS, Instagram ideas, it’s better to keep them for yourself.
Zuckerberg is a white wolf that can never be tamed. If I really tell him about the concept of INS, I will get Class B shares and become a major shareholder of Facebook.
Who knows one day, when he turns around, Zuckerberg will stab him in the back with daggers.
Li Zhenyu didn't want to be an old general on the stage, so he fell to the ground groaning.
He was secretly excited about the idea of what kind of chemical reaction would occur if INS and Twitter were combined.
Sharing text and photos, and adding the innovation of short videos...
Will Facebook's era of dominance come again? ...
PS: Thank you for the reward from my book friend Biluoshu Chunqiu, thank you!
(End of this chapter)
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