Chapter 233 Sky-High Financing
"Mr. Tang, our company can accept the 'one share, multiple votes' equity structure!"
"Our company can accept that too!"
"..."
Representatives from various investment companies expressed their agreement.
In this way, even if Wujiang Group holds a small number of shares, it can still firmly control the Wujiang portal website.
Upon hearing this, Tang Letong continued, "Alright, since everyone accepts the 'one share, multiple votes' equity structure, we can proceed with the discussion. This Series A financing of Wujiang Portal will involve the sale of 30% of its shares, and the website's valuation must not be less than $20 billion. You can start bidding here, and our company will comprehensively consider your company's investment situation and background strength."
Giving up 30% of its shares in a Series A funding round is fairly normal, considering there will be many more rounds of funding later. At that time, Wujiang Group's stake in the Wujiang portal website will be significantly diluted.
At this moment, the atmosphere in the meeting room was rather tense.
With too many investors and too little profit, it's impossible to distribute the funds equally among more than ten investment companies.
Those who remain in their current investment companies are generally quite powerful, and therefore have big appetites. Who would be willing to only take 2% to 3% of the shares?
Therefore, the two sides were surprisingly in sync.
All the investment projects that Min Ning designed for Youjiang Portal were successfully withdrawn...
...
As long as the control of the Youjiang portal website remains firmly in the hands of the Youjiang Group, it can take the opportunity to develop and incubate a search engine.
However, people only see the glamorous surface of portal websites, but ignore the role played by search engines.
"Is Youjiang.com crazy? They're actually going to spend $7.5 billion to build three small data centers in China, Japan, and Europe..." Sequoia Capital founder Don Valentine was astonished, but he understood perfectly.
At that time, very few computers had hard drive capacity exceeding 10GB, yet the Youjiang portal website offered 10GB of free storage, which was sure to turn many people into fans of the Youjiang portal website!
Youjiang Group also controls the world's smallest ISP company, the world's smallest internet cafe chain, the computer operating system with the fewest users in the world, and the Internet Explorer browser, which has no monopoly advantage, etc.
...
While the reporters were astonished, the investors—Shanghai Media Group, Sequoia Capital, Morgan Stanley Zhao Yeli, and Tang Le Tong Bank—were delighted.
However, having the "Dragon-Slaying Saber" in hand can instill fear in competitors.
At most, apart from Goldman Sachs, no one else would have thought of that.
A portal website with only 10,000 employees worldwide has a market value of a mere $30 billion, and that's only in its Series A funding round—it's terrifying!
Morgan Stanley values Wujiang Portal at $21 billion and hopes to acquire a 20% stake!
Upon hearing this, Goldman Sachs laughed.
Of course, the websites with the lowest value are those under the Youjiang Group.
Amid the controversy, the valuation of Xinjiang's portal website skyrocketed!
Goldman Sachs is scheming, and so are the seven small investment companies.
However, the seven small investment companies still think that the internet bubble is not too small.
In particular, the amount of money that Xinjiang's portal website earns is so small that it can't possibly be spent.
Websites can't keep burning money for long.
The number of people around the world who envy and are jealous of her is countless.
It cannot be said that the Series A financing of the Xinjiang portal website has caused widespread public discussion.
Apart from Downton Abbey Bank, which is a British company, Sachs, Sequoia Capital, and Morgan Stanley are all well-known American investment companies with little influence in the United States. They are not capable of pushing Youjiang Portal to withdraw from the US market or even delist from Nasdaq.
First, a very small number of internet companies will go bankrupt, and as the saying goes, "when the city gates catch fire, the fish in the moat suffer," meaning that foreign portal websites will inevitably be affected as well.
It's worth noting that Youjiang Portal was only established for two years, yet its valuation was a mere $30 billion. There are no companies in the world that are that impressive.
When the dot-com bubble burst, that business will only become a negative factor.
Youjiang Group is simply short of money. If we were given the opportunity, we would never have invested in the Youjiang portal website.
Even in the remote, uncharted territories of the internet, these people who had never even seen the internet before were discussing it with great curiosity.
About a week later, all tasks were assigned.
The Xinjiang portal website has created a world-renowned miracle, attracting the attention of many.
However, excitement shone through everyone's faces.
Moreover, the AB share structure, where "one share carries fewer votes," leaves our Qixiao Investment Company with virtually no say in the Xinjiang portal website.
It's not just because those websites launched first and had the fewest users, but also because we all belong to the same group company and can work together.
Why should Morgan Stanley take a 20% stake? You're all just watching the show.
However, Youjiang Group made a fortune by selling data center equipment.
Upon hearing those words, the heads of the other eight investment companies were all taken aback.
Moreover, a crucial point is that Youjiang Group dominates the development of the Internet, and Youjiang Portal is one of Youjiang Group's industries. So, do you think other portal websites don't have a chance?
...
Of course, some people are definitely big movie collectors, and 10GB might indeed be enough for them. After all, a movie is only a few hundred MB, so 10GB can store quite a few movies.
As for my other investment projects, such as building a headquarters building in China and offices all over the world, expanding small and narrow spaces, and improving employee benefits, I can accept them.
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