Chapter 99: An investment worth 30 billion, are you a serious person? (Subscribe)
The purpose of these 20 million options is, firstly, to attract engineers with strong technical skills, and secondly, to ensure team stability.
In two or three years, it will no longer be a new thing for startups to offer options to their employees.
After the establishment of Mogujie and Meilishuo, there is a high probability that they will poach people for category and investment positions. By doing this, Chen Yansen can both retain core members and increase the poaching costs of competitors.
He plans to give options worth 500,000 yuan to people like Yuan Wei, Zhang Yifeng, Chen Xu and Hu Li.
If other companies want to poach people, they have to pay an extra 500,000 yuan, otherwise no one will be willing to switch jobs.
From customer service to team leaders, all employees have options, which are unlocked in four phases over two years, with 25% unfrozen every six months.
In other words, if you want to get all the options, you have to work at FoxTao for at least two more years.
After the meeting, Chen Yansen left Yuan Wei and Zhang Yifeng alone, looked them over, and then announced: "Starting from February, your base salary will be raised to 4,500, and you will serve as the head of the investment promotion team. New employees will be randomly assigned to your team in the future."
Yuan Wei and Zhang Yifeng smiled at each other and said excitedly, "Thank you, Brother Sen."
Yuan Wei, who had several years of work experience, immediately understood Chen Yansen's intention. His heart tightened and he warned himself to be careful in the future because Chen Yansen was not a boss who could be easily fooled.
"Go ahead."
Chen Yansen waved his hand.
There are 26 people in the investment promotion team now, but there has been no person in charge. This is intentional on his part. He wants to encourage competition among investors, as only competition can generate motivation.
Giving Yuan Wei and Zhang Yifeng promotions and salary increases is also a way to show other investment promotion personnel that if they do a good job, they will have the opportunity to become team leaders.
After finishing the work, Chen Yansen took the previously drafted option agreement to Teacher Wang Jing for review, mainly to see whether the content was legal and compliant and whether there were any omissions.
It was not until 4:30 in the afternoon that Chen Yansen came out of Wang Jing's office and sent the revised document to Xu Dan, asking her to follow up: print the option agreement, distribute it to FoxTao members for signature, and finally hand it over to the finance department.
Walking on Xuelin Road, Chen Yansen sent a message to Mengjie, thinking about the last event of Fox Tao before the New Year - the Home Decoration Festival on January 18th.
The categories of the event include kitchen and bathroom supplies, large appliances, bathroom fixtures, lamps and furniture, etc. There were 70 merchants participating in the brand group on the day, and more than 500 flash sale products were sold out.
Although the commission rate for this type of product is lower than that for beauty products and food, the event has introduced big brands such as Red Star Home Products, Fotile, Schneider, TOTO, and Submarine.
As soon as the preheating page was launched, the number of clicks instantly exceeded 100,000, and the company earned 800,000 in advertising fees alone.
"I have to ask Xu Dan to recruit two more event operators. Although Fox Tao is mainly a product channel, seasonal and category activities are also necessary." Chen Yansen stopped at the intersection, thinking secretly.
"What are you thinking about?"
At this time, Meng Jie came over and patted Chen Yansen on the shoulder on tiptoe.
"I miss you." Chen Yansen came back to his senses, smiled and put his arm around Meng Jie's arm, and the 'two brothers' walked towards the school gate together.
The next morning, Xu Dan walked into the meeting room carrying a thick stack of documents.
Starting with Song Yuncheng, the agreement was made in triplicate, with the employee and the company each keeping one copy, and the venture capital keeping one copy for archiving.
"100,000 shares?"
Song Yuncheng opened the option agreement and saw the column for the number of options, his face full of surprise.
"You are the No. 1 employee of FoxTao. You designed the brand image. You have served as the leader of the design, customer service and operation teams. You also introduced 13 B2C platforms to the project team..." Xu Dan began to list Song Yuncheng's contributions and achievements one by one.
According to the valuation of the A round of financing, the total number of FoxTao shares is 500 million, with one share priced at 5.6 yuan. If they are cashed out at a high price in the future, these 100,000 shares will be worth at least 560,000 yuan.
If the Series B valuation increases, the option value will also increase.
"25% is unfrozen every six months. If you leave midway, the company may spend money to buy back the unfrozen options, or it may have to wait until the B round of financing or listing before opening the buyback window."
Xu Dan continued to explain.
"I understand." Song Yuncheng signed his name without hesitation.
Next to come in were Zhang Wenbo, Xiang Pengfei, Meng Xibo and others.
The number of options held by each person is different, but is basically more than 30,000 shares, and some have as many as 100,000 shares.
The general principle is that there are more category positions than investment promotion positions, more investment promotion team leaders than ordinary investment promotion positions, and the least customer service positions. However, each person also has 5,000 shares, worth 20,000 to 30,000 yuan.
At 10 o'clock the next day, the first home improvement festival of FoxTao went on sale.
The sales on the first day were 6.7 million, the average order value was 890 yuan, the order volume was 7,520, and orders from old customers accounted for more than 70%.
This group of old users have long been accustomed to the super rebate model and have full confidence in FoxTao's product selection and price comparison capabilities. From kettles to color TVs and refrigerators, there is nothing they dare not buy.
On the second day of the event, sales reached 4.1 million.
On the third day, sales reached 2.3 million.
After three days of activities, the total sales volume reached 15.3 million and the gross profit was 1.84 million. Zhang Yifeng and Yuan Wei were so happy that they told everyone they met about it and planned to treat everyone to a dinner after the New Year.
They divided the gross profit output by store, and each of them made nearly a million.
Based on the highest commission rate of 5%, each person can get a commission of nearly 50,000 yuan from this activity alone. Add to that the daily performance of the brand group, and it is not difficult to earn 100,000 yuan a month if you work hard.
This really stimulated the other investors. Their eyes lit up and they were busy from morning to night like wolf cubs.
Some businesses are directly operated by factories. Even though the workers are on holiday, the business investors are still urging the bosses to report Spring Festival pre-sale activities, making the most of the schedule.
A week later, on Chinese New Year's Eve, Fox Tao officially had a holiday.
Chen Yansen was just about to go back to 0418 to pack his luggage when he saw Song Yuncheng pushing a small box over from the opposite side.
"What is it?" Chen Yansen asked.
"Birthday present." Song Yuncheng said in a low voice, afraid of being heard by others.
Chen Yansen’s birthday is February 4th, which happens to be the Spring Festival, so Song Yuncheng sent the gift out in advance.
She didn't dare not send it off. When she used Chen Yansen's computer for the interview, the other party had specifically reminded her about it.
Chen Yansen smiled, picked up the gift box and opened it. It was a black MCM wallet, estimated to be worth a little over 1,000 yuan.
"You're living such a luxurious life. Don't you plan to live like this?" Chen Yansen joked.
"If you don't want it, just give it back to me. You can return it and get a refund within seven days without giving any reason." Song Yuncheng stretched out his hand and said.
"I just like to rip off the poor." Chen Yansen took out his old wallet from his pocket and transferred all the cards, ID and cash to the new wallet.
"This is for you." Chen Yansen casually threw the old wallet to Song Yuncheng.
"Then I wish you a happy new year in advance." Song Yuncheng sat in his seat, hesitated for a moment, and said with pursed lips.
"If you miss me, just send me a message." Chen Yansen reminded.
Song Yuncheng stared at him without saying anything.
Chen Yansen took the computer, turned around and went downstairs, and drove the car to the bottom of the teachers' apartment building.
Two hours later.
Chen Yansen sat in the back seat of the BMW 750, chatting and laughing with Meng Jie, while Wang Zihao was driving in the driver's seat.
The three of them rushed towards Chunshen.
"Fuck! You're treating me like I don't exist? I'm full just from eating your dog food. I don't even need to eat lunch."
Wang Zihao looked at the two of them and complained loudly.
"Zihao, I heard that you are pursuing the teacher. You are quite brave." Mengjie leaned in Chen Yansen's arms and joked with a smile.
"I didn't, I wasn't. Don't listen to Brother Sen's nonsense. Teacher Liu and I just have a simple teacher-student relationship." Wang Zihao argued hurriedly.
"whispering sound--"
Chen Yansen was disdainful and too lazy to expose Wang Zihao. Ever since Liu Muyan lost her fiancé, Wang Zihao had been showing concern for Liu Muyan under the pretext of studying all day long, and his hidden thoughts were obvious.
“Buzz buzz buzz—”
The phone in his pocket suddenly rang. Chen Yansen took it out and saw that it was not Song Yuncheng. He pressed the answer button and asked, "What's the matter?"
"Mr. Chen, Cai Yuhao and I, four of us, have set up a game studio, and we would like to ask you for some investment, hehe." Liu Wei explained his purpose with a smile.
The last time they met briefly in Shanghai, they later learned that FoxTao had received nearly 600 million yuan in its Series A financing and was valued at nearly 3 billion yuan.
I originally thought Chen Yansen was a liar, but I didn’t expect he was actually a big boss.
The four of them had some savings, but game development was too expensive. Even if they didn't get paid, they still had to buy development computers, drawing boards, monitors, external hard drives and other equipment. After discussing it, they went to find Chen Yansen.
After all, Chen Yansen had previously promised that he was willing to invest money in them.
"How much do you want?" Chen Yansen agreed without asking any questions.
Mihoyo has rarely raised funds, so investing now would be a great way to make money. There is no need to miss this opportunity to make money.
"Mr. Chen, do you agree?" Liu Wei was stunned. They spent a week preparing a business plan and game development plan, but the other party decided to invest without even listening. This was too smooth.
"How about I refuse first, and then I'll agree when you come up with a mature business plan?" Chen Yansen said jokingly.
"That's not necessary!" Liu Wei quickly refused. He heard the implication of Chen Yansen's words and said with a chuckle.
"Okay, name a number and draft the equity transfer agreement. I'll have a lawyer contact you later."
Chen Yansen said in a calm tone.
Mihoyo's maximum market value in the future could reach 200 billion, but at this point, it's just a small workshop with only a few cats and dogs. Based on his understanding of Liu Wei and Cai Yuhao, they could only ask for a few million at most, and that was the limit they could think of.
"Is 2 million okay? We will give up 10% of the equity." Liu Wei tested cautiously.
Cai Yuhao, Luo Chenghao and Jin Zhicheng surrounded Liu Wei, not daring to breathe, waiting for Chen Yansen's reply.
"20%." Chen Yansen replied.
He is rich but stupid. The newly established Mihoyo is not worth 20 million.
Liu Wei held the phone and made eye contact with his companions.
Cai Yuhao shook his head, Luo Chenghao signaled him to agree, and Jin Zhicheng mouthed, "15%."
"Mr. Chen, we can only give you 15% at most, otherwise we would rather look for other investors." Liu Wei considered for a moment and said seriously.
"Okay, then it's 15%." Chen Yansen didn't bargain anymore.
After a brief greeting, Chen Yansen hung up the phone and immediately called Sun Tongbo.
Sun Tongbo is Wang Jing’s classmate and one of the lawyers who helped to rescue him last time.
"Mr. Chen, for commercial contract cases, my fee is 5,000 yuan per session." After listening to what Chen Yansen said, Sun Tongbo gave a quote first according to professional custom.
"No problem, please, Lawyer Sun, please go there for me." Chen Yansen knew that you get what you pay for. Sun Tongbo worked at Tiancheng Law Firm, one of the top ten law firms in Shanghai, and he was worth the price.
"Okay, I will report the follow-up situation to you in time." Sun Tongbo responded.
Chen Yansen gave a few more instructions on the details of the contract and then put down his phone.
"Brother Sen, do you want to invest in a game studio?" Wang Zihao asked curiously after listening to the general idea.
"They are a few graduate students from Shanghai Jiao Tong University. I think their game design concepts are pretty good." Chen Yansen lied.
In his mind, he was thinking about setting up another investment company and registering the shares of Yunsu and Mihayou under his name. It would not be appropriate to use his personal name, and it would be even worse to register it under Sennheiser.
Wang Zihao didn't pay attention to this and instead talked about someone in his class who was planning a party for the Spring Festival.
"Brother Sen, are you going?"
"Who would go to a class reunion if they were serious? Are you going?" Chen Yansen asked back.
"I'm a serious man." Wang Zihao grinned, obviously he didn't want to go either.
(End of this chapter)
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