My Age of Investment

"Jing Xing, come quickly, come with me, everyone is waiting for you to say a few words to everyone."

Since it was already winter, Zhou Hongyi no longer wore his red jersey, but instead changed into a rare black down jacket.

Lao Zhou, who is short in stature, is wearing a long down jacket and looks like a penguin when he runs. He is very naive.

He trotted up to Xia Jingxing, then grabbed the latter's arm and hurriedly pulled him out.

Xia Jingxing didn't have time to care about Zhou Hongyi's title of master, because he was dragged by the other party for several steps, and said with a bit of laughter and laughter: "Old Zhou, you are such a big entrepreneur. How unbecoming is this tugging, with so many people watching?"

Zhou Hongyi looked around, and sure enough, many people were watching. Some reporters even pointed their cameras at the two of them. It was probably that the scene where he just pulled Xia Jingxing and ran all the way was captured by the reporters.

He turned to Xia Jingxing and smiled, "It's okay, let them keep an eye on it, and I will follow you to make the headlines."

"Then take your hands off first."

"No, what if you run away? Those brothers gave me a death order, and I must take you there today.

There have been several events in the past where you invited everyone to the event, but after you finished speaking, you turned around and left. "

After that, Zhou Hongyi continued to hold on to Xia Jingxing's arm and walked forward, not letting go until he brought him to his destination.

Xia Jingxing took a closer look. Good guy, Huangpu first batch... no, it should be the first batch of graduates from Yuanjing College. They were all standing there neatly.

In addition to Zhou Hongyi, there were also Yang Haoyong, Li Xiang, Zhang Tao, Dai Zhikang, Chen Congwu, Zhou Zhaolong and other first batch of entrepreneurs who received investment from Vision Capital VC funds.

He Xiaopeng, Zhuang Chenchao, Wang Jingbo and other graduates of the second and third batches of Vision College also came to watch the ceremony.

Although today is the move-in ceremony of Fuxing Industrial Park, which has little to do with Vision Capital or the startup companies invested by Vision Capital, everyone knows whose industry Fuxing Industry belongs to, so they naturally want to come to support it and connect with Xia Jingxing by the way.

No, as soon as Xia Jingxing was pulled over by Zhou Hongyi, he was immediately surrounded by this group of people, shouting "Mr.

Xia Jingxing had many contacts with this group of entrepreneurs who were "half disciples, half friends" in the early years.

In the past two years, Xia Jingxing's career has grown bigger and bigger. He has been too busy, and many of his tasks have been assigned to his subordinates, resulting in less contact with this group of fanatical believers.

However, when everyone saw Xia Jingxing, whom they had not seen for a long time, they did not feel uncomfortable at all. All kinds of praise and flattery were thrown at Xia Jingxing as if they were free of charge.

"Mr. Xia, when will Fuxing Automobile release its first model? I can't wait to get it!"

Li Xiang said with a smile on his face: "Autohome users have been discussing all day whether Fuxing Auto will be more amazing than the Roadster and Model S.

Some people say that Fuxing Mobile can defeat Zhiguo head-on, so Fuxing Auto will definitely not disappoint everyone. The first domestically produced car to go overseas is none other than Fuxing Auto! "

People around were laughing and booing, as if Fuxing Motors had entered the world stage.

Xia Jingxing smiled and scolded: "Don't talk about it. I think I have borrowed my Bugatti Veyron from you for four or five years. When will you give it back to me?"

Li Xiang scratched his head, "Don't you only drive Wuling now? People all over the country know it.

If we return the car to you, you won't be able to drive it, so why not let us keep it for a few more years of advertising? "

"Damn, you want to have sex for free?"

Li Xiang pretended to be a bitch and flattered him: "I owe you for now. When Fuxing Auto comes on the market, Autohome will give you free advertising for half a year."

"This is what you said. So many people are listening to it. You are not allowed to go back on it."

"No, no, now we are waiting for your car to be launched. By then, we will definitely get another wave of traffic - Asia's richest man successfully built a car and upgraded his car from Wuling to Fuxing Motors.

What about this title? Mr. Xia, please give me a review. "

"You are really smart, you figured me out clearly."

Xia Jingxing patted Li Xiang's shoulder, somewhat admiring this guy's shamelessness.

With the help of Vision Capital, Li Xianghe Autohome's development is much better than in the previous life.

Since he did not suffer from lack of development funds, Li Xiang did not introduce investment from Telstra like in his previous life, nor did he give up the controlling stake of Autohome. Naturally, he was not suppressed or even expelled by capital.

Although Vision Capital's shareholding ratio in Autohome is not low, it has not intervened too much in the company's management and has always adhered to the principles of financial investors.

Vision Capital's shareholding ratio in Autohome once reached a maximum of 51%. In the following years, Autohome went through several rounds of financing. Vision Capital's shareholding ratio declined, but still remained above 40%.

In the past, the venture capital industry had misunderstandings about Vision Capital, thinking that it looked too ugly and its shareholding ratio was too high.

But over the past few years, Vision Capital's reputation in the industry has been greatly improved, especially in the minds of entrepreneurs, and its image has become much taller.

Although Vision Capital's shareholding ratio is not low, as an institutional investor that does not interfere in the management of the invested company, it is definitely difficult to find even with a lantern.

Moreover, Vision Capital often invests in a project for several rounds in a row, saving countless startups from crisis. For example, after the financial crisis broke out, many companies were unable to raise funds. In the end, Vision Capital generously donated money and helped each of them.

With so much money invested, a higher shareholding ratio would naturally make sense.

A group of VC colleagues are envious and jealous of Vision Capital. Although they say that Vision Capital has a high shareholding ratio and is unfair to entrepreneurs, in fact, they are envious in their hearts.

Don’t they want to take more shares?

In fact, I don't dare, because I am afraid of taking a heavy position, and I am afraid of overturning after several consecutive bets.

Those VC funds with high return rates have always had a trump card, that is, once they discover a star project, they will pursue the investment all the way to the end, not missing out on every round of financing, and use the rate of return of one super project to support the rate of return of the entire fund.

If we really follow the investment principle of "casting a wide net to catch more fish", even if we invest in a certain star project, the rate of return will be very high, but because the shareholding ratio is too low, the absolute value of the return will not be too high.

If the absolute value of the return is combined into the entire fund, the overall return rate of the fund will be directly lowered.

Funds assess overall performance, and sometimes the eye-catching returns of a single project don't mean much.

Vision Capital’s investment accuracy is very high. At the same time, most projects invest in several rounds in a row, and the shareholding ratio is very high.

When these performances fall in the eyes of peers, even the calmest person will feel unbalanced.

It is simply a monster and an industry destroyer. One company actually made most of the money in the entire industry.

Fortunately, currently, not many of the companies invested by Vision Capital have gone public, and there is no data to use as a reference, so not many people have noticed the clues.

Xia Jingxing chatted with a group of entrepreneurs for a while, reminiscing about old times, and was about to leave.

Zhou Hongyi suddenly pressed Xia Jingxing's arm and said, "It's rare for everyone to get together, how about having a meal together at noon?"

Upon hearing the second senior brother's proposal, the surrounding fellow disciples, brothers and sisters all expressed their agreement.

Xia Jingxing saw that it was hard to refuse the warm invitation, so he had no choice but to agree.

Zhou Hongyi acted very happy. He liked drinking with Xia Jingxing the most, because that was one of the few areas where he could surpass Xia Jingxing.

Xia Jingxing looked at the cannon in red, which was laughing heartily, and thought about it. It seemed that this cannon hadn't been fired for a long time, and he didn't know if its power had weakened.

…………

…………

noon.

After everyone had a drink, they all left happily.

Only Zhou Hongyi was left alone by Xia Jingxing.

Zhou Hongyi, whose face was red from drinking, breathed out the smell of alcohol and said to Xia Jingxing who was sitting next to her: "What's going on? It's so mysterious, everyone thought you were going to set a small stove for me."

"It's nothing, I just want to talk to you about the current situation of 360."

Xia Jingxing took a sip of tea and suppressed the discomfort in his stomach.

The cannon in red was so good at persuading people to drink that he drank a lot at noon.

Fortunately, Li Xiang, Zhang Tao and others came to escort him, so he was not knocked down by Zhou Hongyi.

"How are you doing?"

Zhou Hongyi leaned on the chair, glanced at Xia Jingxing, and her mind began to work rapidly.

Xia Jingxing smiled lightly and said, "You must have heard it just now, right? Everyone is preparing to go public. When is 360 planning to go public?"

After all, Zhou Hongyi is not an ordinary entrepreneur. She can be regarded as someone who has successfully started a business once. She has also been the president of Yahoo China. She has a sense of arrogance. She said with a flat mouth: "360 is different from them. Our track is relatively different." Big, there is no rush to go public.”

This was what Xia Jingxing was waiting for, and he said with a smile: "Although the track is big, there are also many opponents!"

"You mean Penguin, right?"

Xia Jingxing said nothing, letting Zhou Hongyi guess and make up her mind.

“A few days ago they launched QQ Doctor, saying it was only a small tool for detecting account-stealing Trojans.

But I feel that they may have come for 360. "

A sneer appeared at the corner of Zhou Hongyi's mouth. Bonima did this in a very unethical manner. Do you really think that 360 and 360 are soft persimmons?

Xia Jingxing asked: "How do you know? Maybe they really just developed a small tool to prevent QQ users from being hacked?"

"Do you believe it?"

Zhou Hongyi suddenly straightened her body, stared blankly at Xia Jingxing, and said, "You don't know Penguin's virtues, they will copy whatever makes you angry.

Over the years, they have successively engaged in e-commerce and search, and also developed Friends.com, a copycat of Hainei.com. After the launch of Weibo, they also launched Penguin Weibo. As for QQ games such as QQ Speed, there are endless QQ games, and they also copy Your farm and ranch games..."

Zhou Hongyi shook her head as she spoke, "People in the world have been suffering from penguins for a long time!"

Xia Jingxing was amused and said, "Then what are you going to do?"

"As long as the penguins dare to bar their teeth at us, they will naturally fight back!"

"Can you beat me?"

Zhou Hongyi's temper rose immediately. He felt that Xia Jingxing's words hurt people's self-esteem. Is 360 that bad in your eyes?

"How can we not defeat it? We are the leader in the field of Internet security!

What do penguins have? Besides plagiarism, what else can they do? "

Xia Jingxing waved his hand and said, "Don't get excited first, I mean you shouldn't underestimate Penguin.

Overseas Holdings and Penguin are also old rivals, and even we dare not underestimate them. "

Zhou Hongyi looked at the ceiling and did not answer.

Xia Jingxing is a little unhappy. I kindly remind you that you are not happy yet.

"Okay, I won't be annoying anymore, just be prepared."

Zhou Hongyi glanced at Xia Jingxing and finally realized that she was a little ungrateful.

"I know everything you said, and I'm always on guard against penguins making sneak attacks.

As long as they dare to take a step beyond the thunder pool, one of their legs will be definitely broken. "

Xia Jingxing nodded, "Okay, that's the end of this topic, so I won't say more.

Let me ask you, do 360 still want to continue to be in the search business? "

Zhou Hongyi's eyes widened and she didn't understand what Xia Jingxing meant.

“The earliest entrepreneurial idea of ​​360 was originally to be a search engine, but by mistake it became an anti-virus software company.

However, you have not completely withdrawn from the search industry. 360 Browser and 360 Navigation have been cooperating well with Google, and both use Google search engines by default.

I heard that Google is withdrawing from the Chinese market. What are your plans next? "

Xia Jingxing looked straight at Zhou Hongyi, not believing that the other party would not take the bait this time.

Penguin and Qianxun colluded to do evil things, and even dared to take the initiative to attack Haihai Holdings.

He has been thinking about how to create trouble for these two companies in recent days.

After thinking about it carefully, I found that I still had to let the red cannon shoot.

Let Zhou Hongyi and 360 serve as vanguard officers to attract firepower.

Once Overseas Holdings has its hands free, it can slowly deal with Qianxun and Penguin.

Xia Jingxing's words made Zhou Hongyi feel dry. He quickly picked up the tea on the table and took a sip, finally feeling calmer.

Don’t 360 want to be a search engine? No!

In the past, the timing was not right. Uniting a group of small and medium-sized websites to tinker with community search was not successful.

If he hadn't immediately transformed when he saw the situation was not going well, 360 would have died long ago and would not have the momentum it has today.

As the developer of 3721, Zhou Hongyi has always been obsessed with search engines and does not think she is any worse than Robin Li. It is just bad luck.

In recent years, he has been engaged in anti-virus software, navigation and browsers, not only to keep the company alive, but also to secretly build his "three-stage rocket".

360 free antivirus tool is a first-class rocket;

360 Secure Browser and 360 Secure Website Navigation are two-stage rockets;

The third stage rocket is naturally the 360 ​​search engine.

Through this layer-by-layer approach, we create a traffic matrix for 360.com.

As long as there is traffic, the search engines launched by 360 in the future will have a chance to survive.

Xia Jingxing's words scratched Zhou Hongyi's itch, and he didn't know if he should reveal his business plan.

"Stop hiding it, I don't know you yet, you have never given up on search engines!"

Seeing Xia Jingxing mercilessly exposing her thoughts, Zhou Hongyi sneered and said, "My thoughts are not mature yet, so I never told you."

"I do have a mature idea. Do you want to know?"

Zhou Hongyi looked at Xia Jingxing, who was staring at her with a smile, and smiled, "Then let's communicate?"

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