Chapter 518: Another $3.18 billion in revenue! The final round before listing!
In the beginning of winter in Shanghai, the trees lining the streets are green and red. A cold wind blows by, and the withered yellow leaves on the treetops are swirled all over the sky.
A Ghost car in panda color sped past, slowly slowed down when it reached the Longcao Road subway station, and then turned into an alley.
Pei Yi, 26 years old this year, was wearing a light gray suit and had a neat short haircut. He was standing at the gate of Yi Garden, looking at the intersection from time to time.
Most people of his age have just entered the workplace for a few years or have just graduated from graduate school, and their monthly income is at most 20,000 to 30,000 yuan.
His annual salary has already reached more than 3 million, and the value of the equity he holds is as high as 500 to 600 million US dollars.
We have to face many choices in life, and often if we seize the most critical one, we can soar to success within two or three years.
"Boss Pei, the boss is here."
Kang Guodong, who was standing by, gently nudged Pei Yi's arm and reminded him in a low voice.
Gao Weilin on the far left yawned.
Last night, he accompanied Zhu Xiaohu of Sands Ventures, Zhang Lei of Hillhouse Capital, Liu Zhiping of Penguin Capital, Liu Yiqing of Goldman Sachs and Yu Heng of Huake Capital for two rounds of drinks, which lasted until the early morning.
At this moment, his eyes were bloodshot and there was a hint of fatigue between his brows.
But when he saw Chen Yansen's car, he immediately straightened his back.
After the car stopped, he trotted forward and opened the door for Chen Yansen.
"Boss." Gao Weilin greeted with a smile on his face.
"Didn't you sleep well last night?" Chen Yansen glanced at him and asked casually.
"Martin from Penguin hosted the party. We drank from 8pm to 1am and stayed up for a few extra hours," Gao Weilin explained quickly.
"Drink less. Your liver isn't in good condition to begin with. Next time you go to a drinking party, just tell them you can't drink. If anyone tries to force you to drink, tell them to come find me."
Chen Yansen patted Lao Gao on the shoulder and gave him instructions.
He didn't want Gao Weilin to end up like in his previous life, dying of liver cancer in just a few years.
If Lao Gao is gone, who will help him manage his money?
"Thank you for your concern, boss." Gao Weilin felt warm in his heart and looked at Chen Yansen with gratitude.
Although his boss assigned him work every day and treated him like a mule, Lao Gao thought: Why does he treat him like an animal and not find someone else?
This just shows how much Chen Yansen values him!
"Boss!" Pei Yi, Kang Guodong and others greeted in unison.
Shan Jiawei, Zhang Xuhao and Liang Changlin stood in the second row, dressed in suits and looking energetic.
In the circle, the three of them are nicknamed "Three Tigers of Kuaipao", and they are in charge of group buying, takeaway and grocery shopping businesses respectively.
Under Pei Yi's leadership, the project's valuation has soared from 5.8 billion US dollars to 30 billion US dollars, and his contribution is indispensable.
"Guodong, the intelligent dispatching system you developed is very good. Thank you for your hard work over the past two years."
Chen Yansen nodded and praised Kang Guodong.
As Kuaipao's valuation soared, Kang Guodong no longer complained about losing his CEO position. He stayed in the position of CTO honestly, spending all day in the R&D and product departments, busy optimizing delivery routes, order delivery, and transportation scheduling systems.
For example, the merchant management system of Kuapao Hotel and Travel is his achievement, which provides strong technical support for the investment promotion work of the local promotion team.
"Thank you for the compliment, boss. This is my duty." Kang Guodong responded with a smile.
He knew in his heart that Pei Yi had proven to be more suitable for the position of CEO.
Under Pei Yi's operation, Kuapao became an oligarch in the local life sector in just two years.
Privately, he also thought seriously: If it were me, could I achieve the same results?
After some thought, he finally smiled bitterly and shook his head.
Perhaps, there is nothing wrong with focusing on technological development.
"What time is the appointment with Martin and the others?"
Chen Yansen looked at Gao Weilin and asked.
"Ten o'clock, forty minutes left." Gao Weilin replied.
"Come in first, don't stand here."
Chen Yansen waved his hand and led the way into Yi Garden.
Since June, Kuapao has moved its headquarters to Shanghai, which is why Kang Guodong appeared here.
The three small buildings in Yiyuan alone obviously could not meet the daily office needs, so the Hongrun Building diagonally opposite was also acquired. Now both places are Kuaipao's office areas, accommodating more than 6,000 employees in total.
A frosted glass door slowly opened, revealing green trees and red flowers behind the door, with several koi carps swimming leisurely in the pond.
Although Yiyuan is small, its greening and layout are unique and suitable for small and medium-sized enterprises to settle in, but it seems a bit cramped for large Internet companies like Kuapao.
However, Pei Yi already had a plan and was negotiating with Caohejing Development Zone, Zhangjiang Hi-Tech Software Park, and Jinke Road Science and Technology Park, striving to obtain the best entry policy.
Once the deal is reached, Kuaipao will move to a new park with larger space.
Zhang Xuhao followed behind, feeling a little regretful.
Chen Yansen's first choice of investment target was Ele.me, but in order to raise his own value, he took the other party's chips to negotiate with Ali and Penguin. Unexpectedly, he failed to steal the chicken and lost the rice.
Although he got the support of Ahri in the end, he was still defeated by Kuaipao.
Unfortunately, there is no chance to start over in life.
Zhang Xuhao smiled with relief.
He is quite satisfied to be able to take the position of head of the takeaway business, serve as the general manager of the business, and enjoy generous salary and option rewards.
When the company goes public in the future, the options in hand can be converted into at least hundreds of millions of dollars, which is enough to achieve financial freedom.
Pei Yi led Chen Yansen into a large conference room, which was about 100 square meters in size.
It is more than enough to be used as the venue for the C round financing kick-off meeting.
Not long after Chen Yansen sat down, Liu Zhiping rushed over, followed by Lin Chenfeng, vice president of Penguin Investment Department.
To put it bluntly, Liu Zhiping personally showed up to show Penguin's importance to Chen Yansen, while the specific docking work still had to be handled by Lin Chenfeng.
"Martin, please sit down! What would you like to drink?"
Chen Yansen smiled and pushed Liu Zhiping into his seat, then asked.
"Longjing, let's change the taste." Liu Zhiping responded with a smile.
The director of the administrative department nodded slightly when he heard this, then turned around and went out to make tea.
"Is Lao Zhou suing Penguin again?"
Chen Yansen asked again.
"I'm used to it. Zhou Dapao, as his name suggests, it would be unusual if he didn't cause trouble someday."
Liu Zhiping spread his hands and said helplessly.
This time, the conflict between 360 and Penguin focused on the distribution of application software.
Both companies wanted to compete for the entrance to the mobile Internet. They first engaged in a war of words for a few days, and then Zhou Hongyi turned around and sued Penguin.
No matter whether it is useful or not, just sue first.
But in fact, it is obvious that Orange App Store and Aurora Future App Store control nearly 30% of the domestic application distribution market, 91 Assistant, 360 Mobile Assistant, Wandoujia and App Store occupy 50% of the market, and App Store accounts for less than 10% of the market.
Zhou Hongyi kept biting the penguin, what else could he be but a mad dog?
Typical bully!
But he didn't dare to yell at Orange Technology!
Chen Yansen smiled lightly and did not express any opinion.
In his opinion, 91 Assistant, Wandoujia and Yingyongbao are destined to be yesterday's news and will not last long.
From the user's perspective, the memory space is purchased with real money, so who would be willing to download several app stores on their phone?
The App store provided by the mobile phone manufacturer or the system is sufficient, and third-party stores will eventually fail.
Even though Robin Li announced loudly that he would spend $1.9 billion to acquire 91 Assistant, and the media touted it as a wise choice to "take the lead in mobile traffic", in Chen Yansen's eyes, it was simply stupid.
"Mr. Chen, you didn't go to Pinbei's North American roadshow. Are you not going to the IPO either?"
Seeing that Chen Yansen was not interested in this topic, Liu Zhiping changed the subject and started a new one.
"We'll talk about it when the time comes. After all, whether I go or not has no impact on Pinbei's stock price. Investors focus on the project's revenue, profits, and development potential, not whether the founder attends the bell ringing ceremony."
Chen Yansen said indifferently.
Deeply binding the founder and the project can apparently attract traffic to the company, but if the founder's reputation collapses, it will cause fatal damage to the product.
After the two chatted for more than ten minutes, Zhu Xiaohu, Zhang Lei, Liu Yiqing and Yu Heng also arrived one after another.
Among these four venture capital institutions, there are state-owned capital, private capital, and overseas capital.
There are potential conditions for allowing Goldman Sachs to join the market. After the domestic O2O market structure stabilizes, Kuaipao will open up the international market and go to Europe and the United States to compete with Grubhub, DoorDash, and Just Eat.
Chen Yansen secretly looked at Liu Yiqing, who was in his early thirties and wearing a beige haute couture suit, a new autumn model from Chanel, worth more than 80,000 yuan.
She was able to become the managing director of Goldman Sachs Asia in just ten years. No one would believe it if she said it had nothing to do with her family background.
At the same time, Liu Yiqing was also observing Chen Yansen.
"Mr. Chen, Martin organized the party yesterday. I'll make arrangements for tonight. We haven't seen each other for a while."
Yu Heng from Huake Investment came forward and greeted them enthusiastically.
As the leader of the Kuaipao project, he invested US$232 million in the B round and exchanged for 4% of the equity, which is currently worth US$1.2 billion. The return on investment was as high as 417.2%, which really made him earn a lot of generous commissions and saved capital for promotion.
In addition, his investment in the fast taxi-hailing project also made him a lot of money.
Therefore, he certainly wanted to get closer to the "God of Wealth".
"That won't do! At least let President Pei play the role of host. What do you think, Martin?"
Chen Yansen joked with a smile.
"It would be best if President Yu and President Pei take turns treating us." Liu Zhiping joked.
Liu Yiqing smiled and echoed with Zhu Xiaohu and Zhang Lei.
The atmosphere at the launch meeting of Kuaipao's Series C financing was particularly relaxed. Everyone knew that at the current rate of development, this would most likely be Kuaipao's last round of financing before going public.
A total of five investment institutions all gave their intended bids.
They know very well that an additional shareholding ratio of one percentage point may bring an additional profit of ten or twenty billion US dollars in the future.
"I have reviewed your proposed bids. Five companies have been shortlisted for this round, but there are discrepancies in their valuations.
Plus, the equity percentage being sold is limited, so I will eliminate two companies, using $30 billion as the baseline, and choose the one with the highest bid. Fair, right? "
Chen Yansen spoke slowly.
With the potential of Yikuaipao, there is no shortage of investors.
Liu Yiqing frowned secretly. From Chen Yansen's tone, she could only read the word "strong".
After working at Goldman Sachs for many years, this was the first time she encountered a founder like this who completely disregarded investment institutions.
But when she glanced at the expressions of others, she couldn't help but be surprised. Everyone looked calm and obviously approved of Chen Yansen's decision.
30 billion US dollars?
Zhu Xiaohu took a deep breath. Sands Venture Capital had been eliminated once in the previous round. This time, he deliberately raised his bid and changed the first version of the valuation of 24 billion US dollars to 26 billion US dollars.
But what confused him was that Chen Yansen’s bottom line was 30 billion US dollars!
It increased by 4 billion US dollars.
At the same time, since Chen Yansen dared to say so, it means that more than one company has made an offer of 30 billion US dollars.
Liu Zhiping smiled faintly, sat calmly in his seat, played with the pen in his hand, and then wrote down the pre-determined number on the quotation.
Penguin is the second largest shareholder of Kuaipao. The higher the valuation, the greater the profit. He is very happy to help Chen Yansen.
"30 billion US dollars?"
Yu Heng narrowed his eyes. This valuation differed from his offer by 1.5 billion US dollars, but it was not a big problem. With his authority, he could make the decision.
Zhu Xiaohu looked around, taking in the expressions on the other people's faces. His heart skipped a beat, as everyone else had calm and composed expressions.
Chen Yansen leaned back and waited for the final quotation.
Logically speaking, before signing a preliminary written agreement, the process should be 'kick-off meeting → due diligence → internal review', and only then will it enter the quotation stage to determine the investment amount, equity ratio, valuation, delivery conditions, shareholder rights, etc.
But who let Kuapao take the initiative?
Especially Liu Zhiping, Yu Heng and Zhang Lei, they were already familiar with Chen Yansen's style of doing things, so they were too lazy to argue. They picked up the pen and quickly wrote on the quotation.
Zhu Xiaohu gritted his teeth and finally did not dare to hesitate.
Ten minutes later, Chen Yansen glanced at the quotation sheet handed over, and then announced slowly: "Congratulations to Penguin, Huazhong University of Science and Technology, and Goldman Sachs."
30.5 billion US dollars were eliminated?
Zhu Xiaohu stood there in a daze.
Zhang Lei pushed his glasses and sighed slightly. For an industry giant like Kuaipao, Hillhouse Capital only invested in one round and held only 2.6% of the shares, so the expected returns were limited.
Chen Yansen handed over the subsequent process to Pei Yi and Gao Weilin, and took Liu Zhiping, Yu Heng and others to an office to have tea and chat.
Zhu Xiaohu and Zhang Lei looked at each other and followed.
Although the deal was not concluded, since we are here, we should take the opportunity to deepen our friendship.
at the same time.
Yang Weidong of Taihua Group received a call from the investment department of Senlian Capital. After hearing the other party's intention, a look of ecstasy immediately appeared on his face.
The other side.
After Pei Yi signed the letter of intent for investment with Penguin, Goldman Sachs, and Huake, he suddenly felt a sense of unreality.
The C round of financing was US$3.18 billion, with Penguin receiving 4%, Goldman Sachs 4%, and Huazhong University of Science and Technology 2%.
In just two or three years, Kuaipao's valuation soared to US$31.8 billion, which is truly incredible.
The next morning, Chen Yansen drove to Zizhu Software Park in MH District.
(End of this chapter)
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