Chapter 22
After weathering internal ideological conflicts and external public opinion storms, Mingyu Technology, like rough iron that has been tempered, though still crude, has begun to show signs of resilience. Under Li Ming's new model of "independent accounting and self-financing," the e-commerce business led by Zhao Zhen has unleashed even greater vitality. Leveraging his family connections, he successfully developed several new specialty product supply chains and even tentatively ventured into light industrial commodities from the south. The online store's SKUs and sales steadily increased, and cash flow became more abundant. He seemed to be using tangible results to prove to Li Ming the correctness of his chosen "down-to-earth" path.
With initial funding from Zhao Zhen, secured by a promissory note, Wang Hao's platform project team was able to focus wholeheartedly on research and development. The rough prototype, after incorporating feedback from early users (mainly local tech enthusiasts and university students in Jinyang), began its iterative development. Although far from the "platform" in Li Ming's mind, at least the functions of map location for finding nearby businesses and viewing basic information were working—like a toddler finally taking its first steps.
Li Ziqing carefully balanced the cash flow of the two business lines, ensuring that the e-commerce business could continuously supply the platform's R&D, while also dealing with increasingly complex accounting and tax issues. She enrolled in a night school finance course and often studied until late at night. Her indomitable spirit made Li Ming both feel sorry for her and gratified.
Liu Qiang remained the team's strongest logistical support, renting a more formal and discreet small warehouse and office space, and quietly hanging up the "Mingyu Technology" sign.
On the surface, everything seems to be moving in a positive direction. The team has found a temporary balance, with each member focusing their efforts on their areas of expertise.
However, Li Ming's sense of urgency grew stronger each day. He knew this balance was fragile. The growth of e-commerce had its limits, while platform development was a bottomless pit, requiring huge upfront investments with no immediate returns. Although Zhao Zhen provided funding according to the agreement, the slight furrow in his brow and the hesitant expression he wore each time he signed off on the disbursement were like a thorn, reminding Li Ming of the "cost" of this support and its potential instability.
More importantly, Zhang Lei's situation remains a huge question mark hanging in the air. The email inviting him to the headquarters of Leiyao Capital in Beijing for "in-depth discussions" is both an opportunity and a trap. He needs to present something more convincing, not just a concept on paper or a rough prototype.
Funding! He needs more funding, not just to maintain platform research and development, but also to have greater autonomy and bargaining power in critical moments. The funding Zhao Zhen provided was a "loan," with conditions. He needs funds that truly belong to "Mingyu Technology," funds that he, Li Ming, can control.
He thought of those domain names.
During this period, he successively acquired and registered dozens of domain names, investing nearly 50,000 yuan, which was not a small amount for them at the time. Although there were occasional inquiries, the offers were all far below his expectations, and most deals fell through. Zhao Zhen and Li Ziqing's doubts about this never ceased.
Just when he was anxious about this and even began to doubt the accuracy of his "prophetic" memories, a turning point came unexpectedly on a sunny afternoon.
Li Ming received an unfamiliar overseas call from a US number. The caller identified himself as Xu Hua, the co-founder and CEO of a newly established Silicon Valley tech company called "ZoomTech." He sounded urgent and excited, explaining that he had contacted Li Ming through domain registration information and wanted to purchase a domain he owned—"zoomapp."
Li Ming's heart skipped a beat! Zoom! The video conferencing software giant that later swept the globe in his memory! Although the timeline seemed to be earlier than his vague memory, the possibility that this name and domain name pointed to instantly gave him a huge glimmer of hope.
He suppressed his excitement and spoke to the other party in as calm a tone as possible. It turned out that Xu Hua's team was developing a cloud-based video communication software, which they wanted to name "Zoom." However, the core domain name "zoom" was already taken and was very expensive. They then set their sights on "zoomapp," only to find that it had already been registered by Li Ming.
“Mr. Li, our project has just received angel investment and we desperately need this domain name to unify our brand image.” Xu Hua’s tone was earnest. “We hope you can part with it; we can discuss the price.”
Li Ming didn't agree immediately. He needed to assess the strength of the other party's needs and their ability to pay, and he also needed to secure the best possible outcome for himself. He made an excuse that he needed to consider it and needed to learn more about the other party's company, and arranged to talk again the next day.
After hanging up the phone, Li Ming immediately asked Wang Hao to help him look up background information on "ZoomTech" and Xu Hua. The information returned was limited, but it confirmed that such a startup company did exist and had just received a substantial amount of venture capital.
An opportunity has arrived! This is not just a domain name transaction; it could be an opportunity to establish connections with future unicorns!
The next day, during his call with Xu Hua, Li Ming displayed a maturity beyond his years. Instead of rushing to quote a price, he inquired in detail about Zoom's product philosophy, technical features, and market plans. His questions were precise and to the point, greatly surprising Xu Hua on the other end of the line, who even thought he was talking to a seasoned industry expert.
“Mr. Xu, I admire your team’s philosophy.” After gathering enough information, Li Ming finally got to the point. “The ‘zoomapp’ domain name is not dispensable to me. However, if it can help a great product get off the ground, I’m willing to consider transferring it.”
He quoted a price: $80,000. In 2006, this was an astronomical price for a non-top-level domain!
There was a long silence on the other end of the phone, with only Xu Hua's heavy breathing audible. Clearly, the price was beyond their budget.
"Mr. Li, can we negotiate this price further?" Xu Hua's voice was a little hoarse.
“The price reflects the value of this domain name to your brand,” Li Ming said calmly but firmly. “Moreover, I can accept part of the payment in the form of stock options in your company.”
This proposal stunned Xu Hua once again. Using startup stock options to offset part of the cash? This young domain name holder possessed extraordinary vision and courage!
Ultimately, after some back and forth, the two sides reached a compromise: ZoomTech would acquire the "zoomapp" domain name for $50,000 in cash, plus an option worth $30,000 (with a very low exercise price).
When Li Ming received the formal draft agreement and the text message notification that the first deposit had been deposited, he stood at the window of his new office, holding his phone, looking at the bustling crowd below, speechless for a long time.
$50,000 in cash! At the exchange rate at the time, that was more than 400,000 RMB! This was not only a huge sum of money, but also the most powerful proof of his "domain name investment" strategy! And the $30,000 ZoomTech options were more like a lottery ticket to the future, with immeasurable potential value.
He announced the news at the team's core meeting.
For a moment, the office was completely silent.
Zhao Zhen stared wide-eyed at Li Ming, as if he were truly getting to know his deskmate for the first time. All his previous doubts and resentments seemed so pale and laughable in the face of this tangible, almost "Midas touch" gain. He opened his mouth, but ultimately said nothing, only lowering his head with a complex expression.
Liu Qiang was so excited he almost jumped up, stammering, "Over 400,000! Brother Ming! You're amazing!"
Wang Hao pushed up his glasses, looked at Li Ming, his eyes filled with curiosity and admiration.
Li Ziqing let out a long sigh of relief, her tightly furrowed brows finally relaxing. Looking at Li Ming, her gaze held not only joy but also an indescribable trust and reliance. This money had solved the company's biggest immediate crisis.
"This funding will primarily be used to accelerate the development of the platform project, and... to prepare for the upcoming trip to Beijing." Li Ming looked around at everyone, his voice steady, "We are on the right track."
The injection of funds is like filling a nearly empty fuel tank with high-quality fuel, giving the entire "Mingyu Technology", especially the platform project team, a renewed boost.
Li Ming immediately set about two things: first, urging Wang Hao's team to use the new funds to recruit a professional graphic designer and an experienced server maintenance engineer to accelerate the development and stability of the platform's beta version; second, he began serious preparations for his trip to Beijing to meet with Zhang Lei. He knew that with the confidence brought by this "first pot of gold" and the "legendary" story of the deal with Zoom, he would have more say and more options in front of Zhang Lei.
However, just as he booked his train ticket to Beijing, full of ambition and ready to embark on a new journey, Li Ziqing brought him news that made his heart sink.
“Li Ming, I overheard my dad mentioning Zhang Lei on the phone yesterday when I got home.” Li Ziqing’s tone was tinged with unease. “He said that Zhang Lei is a man with a sharp eye and decisive actions, but he is also known for his tendency to ‘control’ his investments. In the end, the founders of the projects he invests in don’t have much control over the projects.”
She looked at Li Ming, her eyes filled with worry: "When you go to Beijing this time to talk to him... you must be careful."
Li Ming's heart tightened suddenly. Li Yuanshan's assessment was undoubtedly a more three-dimensional and realistic portrayal of Zhang Lei. Dancing with giants can certainly help one soar, but it also means being swallowed up by the giant waves at any time.
Should they seize the olive branch extended by Zhang Lei and leverage Lei Yao Capital's resources and influence to achieve rapid growth? Or should they rely on their newly acquired resources and continue to move forward independently and steadily?
He stood in front of the map of China in his office, his gaze shifting back and forth between Beijing and Jinyang.
This trip to Beijing seems to be more than just an "in-depth exchange," but rather a strategic decision that will determine the future of "Mingyu Technology."
Holding the newly acquired bargaining chips, he stands at this crucial crossroads. What path should he take next? Is his meeting with Zhang Lei a shortcut to glory, or... the beginning of losing his autonomy?
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