Chapter 83: A Trip to Shanghai to Whet the Appetite of Venture Capital (Please Subscribe!)
At 10:30 in the morning, as I was walking towards the Entrepreneurship Park, Zhang Jiancheng called me for the second time.
"Mr. Zhang, to be honest, FoxTao is not short of money now." Chen Yansen refused directly without waiting for the other party to speak.
"Mr. Chen, I know that after the super rebate is launched, you have the deposits of merchants and B2C malls in your hands, as well as a daily gross profit of more than one million, so you have ample funds.
However, Siwei Capital has been involved in e-commerce since 2004 and has rich B2C and supply chain resources, which can help FoxTao develop rapidly.
After listening to this, Zhang Jiancheng introduced it calmly.
"Fox Tao currently has 1.5 million daily active users, and its daily sales are stable at 20 million. How much can Siwei estimate it to be?" Chen Yansen falsely reported more than 50% of the data without even opening his mouth.
"Mr. Chen, based on the average price-to-earnings ratio of the e-commerce industry this year, Siwei can give a valuation of 400 million. Considering that FoxTao is a leader in the shopping guide e-commerce track, I can add another 100 million."
Zhang Jiancheng thought for a while and said slowly.
"I'm sorry, I'm not satisfied with this number." Chen Yansen refused bluntly, and at the same time brought up Penguin: "Penguin is an angel investor of FoxTao and has the right of first refusal. I have to notify them before starting the A round of financing."
"Mr. Chen, we can meet and talk in detail. We can discuss the valuation. As long as the algorithm is reasonable, I am willing to accept it." Zhang Jiancheng frowned, but still did not give up.
But Chen Yansen didn't want to raise funds too early, so he hung up the phone after a few words.
Zhang Jiancheng was surprised by the rejections. He didn't expect that an 18-year-old freshman would be so difficult to deal with.
He wanted to use the 500 million valuation to "stun" Chen Yansen and coax him into signing a financing agreement while other venture capitalists were waiting and watching, but he didn't expect the other party to not buy it at all.
Chen Yansen walked into Room 206 and waved to Wang Zihao. When he came closer, he instructed: "Find a few top e-commerce bloggers to spread the news that Siwei Capital wants to invest in Huli Tao, with a valuation of 500 million yuan."
“Is this true or false?”
Wang Zihao was slightly stunned and asked subconsciously.
"It's true, but I rejected it. 500 million is too little." Chen Yansen answered truthfully.
Although revealing investors' intentions to the outside world is unethical and may easily arouse the disgust of Thinking Capital, Chen Yansen has no sense of morality at all and is naturally fearless.
Siwei Capital wants to acquire the equity at a low price, and Chen Yansen wants to sell it at a high price. There is no right or wrong, it’s all about interests.
"Wow! You're awesome!" Wang Zihao gave a thumbs up, his face full of shock.
After returning to his seat, he immediately contacted two top bloggers, Tusishuo E-commerce and 21st Century E-commerce Circle, through an intermediary. One had 4.6 million followers and the other had 3.2 million. The offer was not high, and the total did not exceed 8,000 yuan.
The traffic monetization capabilities of bloggers today cannot be compared to those of more than ten years later.
At 3 p.m. that day, Tusishuo E-commerce released information about Siwei Capital’s contact with FoxTao.
"500 million valuation" plus "18-year-old business genius" unsurprisingly became a hot topic.
Some people think that FoxTao’s valuation of 500 million is too exaggerated as it was established less than four months ago.
But someone immediately explained in the comment section that based on the PEG valuation method, which is a combination of the price-to-earnings ratio or the price-to-earnings ratio and the earnings growth rate, combined with Fox Tao's daily active users, orders and sales data, its valuation could reach 800 million to 1 billion.
Some netizens also believe that this is a hype method used by FoxTao to raise its value.
Half an hour later, the 21st Century E-commerce circle forwarded the Weibo content of Tusishuo E-commerce, further proving the reliability of the news.
Zhang Jiancheng was reporting the progress to his boss. He sneered when he heard the news. He didn't expect that Chen Yansen was so sophisticated.
When asked by the media for confirmation, Zhang Jiancheng was reluctant to deny it and just said ambiguously: "Shopping guide e-commerce, as a sub-segment of the e-commerce industry, has been given a new profit model by FoxTao."
As to whether the 500 million valuation was true or not, and whether Siwei Capital had contacted FoxTao, he did not say a word.
Before leaving get off work, Chen Yansen received another call from Qiming Capital, which offered a valuation of 600 million yuan and required the exchange of 20% of the equity.
Chen Yansen was still perfunctory and planned to let the wind blow for a few more days.
The next day, Lin Chenfeng from Penguin Venture Capital called to inquire.
After figuring out the situation, he smiled and reminded, “This project was personally nominated by President Ma, and the venture capital department will definitely continue to invest.”
Chen Yansen smiled faintly and replied: Welcome to FoxTao for an on-site inspection, so that you can have a clearer understanding of the current value of FoxTao.
As financing news continues to ferment, more and more venture capital institutions have noticed FoxTao, a rapidly growing shopping guide e-commerce platform.
On December 17, the first venture capital firm to enter the Entrepreneurship Park was Capital Today, with a team of seven people, including managers leading investment projects, industry analysts, legal, financial and technical personnel, etc.
Chen Yansen took them to stay on the second floor of the Entrepreneurship Park for a day. Song Yuncheng was responsible for the reception and introduced them to the optimized data information.
The next day, photos of Today Capital entering Xucheng College were posted online. This time it was not Chen Yansen who did it, but a few college students who wanted to increase their followers and traffic.
The venture capital firms that had been waiting on the sidelines could no longer sit still and began to call and invite the company to conduct on-site inspections.
Throughout mid-December, in addition to keeping a close eye on the daily operations of Super Rebate, Chen Yansen spent the rest of his time dealing with venture capital.
Fortunately, the effect is good. The valuations given by various institutions continue to increase. Only when there is competition does there be pressure.
Thinking Capital, which was only willing to offer a valuation of 500 million at the beginning, eventually raised its offer to 750 million! "Brother Sen, what do you think? DCM is offering the highest price right now. Even if we only sell 10% of the shares, we can still get 140 million in funds, and the scale of investment can be increased tenfold."
Wang Zihao pulled over a chair, sat in front of Chen Yansen and asked.
"It's still too low! These damn venture capitalists always use the short launch time of the super rebate, major policy changes, and unstable gross profit as excuses. Based on a daily net gross profit of 1 million, it's not too much for me to call the valuation at 3 billion."
Chen Yansen glanced at Wang Zihao and said disdainfully.
The venture capitalist thinks that FoxTaoRi's gross profit margin is unstable, so he will wait and see. Anyway, he is not in a hurry.
"3 billion?"
Wang Zihao swallowed his saliva and looked around. How could a project with less than 80 people be worth 3 billion? He often went to Liu Muyan's finance class recently. Although he had never learned about company valuation, he knew that 3 billion was an astronomical figure and venture capitalists would probably find it difficult to accept it.
“At worst, the development will be slow. If it doesn’t meet my expectations, no one can help.” Chen Yansen said with a chuckle.
Wang Zihao didn't say anything. He didn't ask Chen Yansen about his lowest price. He felt that even if he asked, Chen Yansen would not tell the truth.
Ever since his best friend filled out his college entrance examination application, he seemed like a different person, with a deep and thoughtful mind that Wang Zihao could not figure out at all.
"This week's marketing plan and weekly report have been sent to your email. By the way, our cumulative number of registered users has just exceeded 20 million." Wang Zihao changed the subject and said with a smile.
"I'll be away for the next few days. Please keep an eye on it for me. Call me anytime if you have any questions."
Chen Yansen raised his hand to look at his watch and gave instructions seriously.
"Okay, don't worry! Anyway, if any venture capitalists come, I will leave it to Song Yuncheng and Zhuang Rui to receive them. They have experience." Wang Zihao shrugged, envy in his eyes.
Chen Yansen wants to take Mengjie to Shanghai to watch a concert, but he has to work hard.
I finally fell in love with a girl, but she's a teacher and even has a fiancé.
The man looked like a decent human being, but his hair looked like it was licked by a dog. He looked unreliable at first glance.
My brother Hao is the best candidate for Liu Muyan! However, Wang Zihao only dared to mutter these words in his heart and did not dare to say a word.
Chen Yansen smiled, picked up his coat and walked out.
As soon as he arrived downstairs of the teachers' apartment building, Chen Yansen saw Mengjie pushing two suitcases and standing on tiptoe to look around.
"Take a taxi to the high-speed rail station first. It will arrive at 10pm."
Chen Yansen took a suitcase, rubbed Mengjie's head and said.
Meng Jie smiled, took Chen Yansen's arm, and walked towards the school gate with confidence.
It takes half an hour to drive from Xucheng College to Xucheng East Station, and three hours by high-speed rail. It was already 10:30 when we arrived at the hotel.
In the night of Shanghai, neon lights flicker, tall buildings stand on both sides of the Huangpu River, bathed in the cold moonlight, and the streets are prosperous and extremely noisy.
"You only booked one room?"
Standing at the door of the room, Meng Jie blinked and asked with a strange expression.
Chen Yansen, this bastard, shouldn’t his little thoughts be too obvious. Meng Jie knew it and her cheeks instantly became hot.
She had imagined a similar love scene countless times in her mind, but she didn't expect it to come so suddenly.
"Don't worry, I won't do anything to you."
Chen Yansen pushed open the door, inserted the room card into the power slot, and said seriously.
"At night you will definitely say that the air conditioner is not warm enough and you want to share a bed. Then you will say that you just want to hug me and do nothing else. Finally, you will say that you just want to rub against me, right?"
Mengjie's eyes were watery, the corners of her mouth were slightly raised, and she told the scumbag's tricks one by one.
"You know so much, you were also a scumbag in your previous life."
Chen Yansen was stunned for a moment, gave a dry laugh, and took the initiative.
"Don't forget! Who is the leader of Class 8, Grade 3!" Meng Jie snorted and pushed the suitcase into the house.
But she didn't expect that there was only one bed in the bedroom, so Chen Yansen even skipped the first step of the scumbag's routine.
Meng Jie turned her head to look at him with questioning eyes.
Before departure, Chen Yansen vowed that he had booked a double room, with one bed for each person, and the distance between them was as far as mountains and seas.
"Uh maybe the front desk recorded the wrong information?"
Chen Yansen brazenly lied.
"Really? That's so careless! Fortunately there is a sofa in the living room, so it's okay." A sly smile flashed across Meng Jie's face.
Sleeping on the sofa? Chen Yansen was stunned. What a joke! Mr. Chen never sleeps on the sofa! It was late. After washing up, one of them lay on the bed and the other curled up on the sofa.
"Chen Yansen, you bastard!" Meng Jie hung her face and cursed angrily.
"The bed is big and comfortable, do you want to come up and try it?"
Chen Yansen chuckled and patted the soft mattress, making a 'puff' sound.
"I'd rather sleep on the sofa!" Meng Jie turned over on the sofa, determined not to fall for it.
She knew Chen Yansen's routine too well, and what he would do next would definitely be 'I'll just hold you and do nothing else'.
Bah! The two of them bickered with each other, and when they got tired of talking, they would talk about high school.
After a while, Mengjie fell asleep first.
Chen Yansen called out to her twice in a low voice, and seeing that Meng Jie didn't respond, he quietly got out of bed.
(End of this chapter)
Continue read on readnovelmtl.com
