My Age of Investment

After much deliberation in his mind, Son decided to remain unchanged in the face of all changes.

"Darren, have you consulted other shareholders? Now that Facebook is listed, those people have all made a lot of money. At the same time, they are shareholders of YouTube. They should be interested in increasing their equity stake in YouTube, right?"

Xia Jingxing chuckled. He had so many thoughts. He could just give him a pleasant word if he wanted to get on the boat. There was no need to test him repeatedly.

Xia Jingxing felt that he was deeply misunderstood by Lao Sun, who clearly had opinions about him.

"They are different from you and me. They don't like to make big bets! Just participate."

Masayoshi Son understood that other shareholders were either not strong enough or did not like the crazy way of investing billions of dollars in a single investment.

Xia Jingxing continued: "If you don't object, let us complete the financing of the oil pipeline this time.

If we resolve this matter as soon as possible, we can advance our plan as soon as possible. "

Son Masayoshi asked calmly: "The post-money valuation of the last round of financing for YouTube was US$15 billion. What is the valuation of this round of financing?"

"Luo Li, CEO of YouTube, asked an external agency to conduct an evaluation and believed that US$25 billion was a more reasonable figure."

Son Zhengyi frowned and said: "It's a bit low!"

"Actually, it's not low. After the oil pipeline was separated, it has lost a total of four to five billion US dollars in recent years. In the eyes of many people, it is a company with negative equity."

Son argued: "The oil pipeline has its own special characteristics, and the opportunity to make money is still ahead."

“I know that, otherwise I wouldn’t invest in it.”

Xia Jingxing's words were very straightforward and a bit irritating. Son was angered. He felt that he was being tricked again. Xia Jingxing deliberately led him to give up investment.

If Xia Jingxing reported the valuation of the oil pipeline early, he would make an additional investment at any cost.

Although YouTube's revenue and profits are far less than Facebook's, the number of users can rival Facebook's. For this reason, its valuation will not be too low.

But the words of rejection have already been said, and Son doesn’t have the face to take them back.

"Before officially investing in oil pipelines, I still have something to discuss with Mr. Sun."

Xia Jingxing looked at the silent Son and said, "Facebook may not have enough capital to acquire YouTube next year."

When Sun Zhengyi heard this, he was furious on the spot, and said in a threatening tone: "Darren, I have signed an agreement with Oil Pipe. If it has not been acquired for three years, it will activate the repurchase agreement."

Xia Jingxing waved his hand, "Don't worry, am I not preparing to discuss this matter with you right now?

Facebook's valuation has increased a lot compared to two years ago, and initiating a repurchase agreement will be a disadvantage for SoftBank. "

Masayoshi Son fell silent for a moment. The repurchase agreement was just something he brought out to scare people, but this agreement obviously couldn't scare Xia Jingxing. The other party definitely had the financial resources. At worst, Vision Capital spent billions of dollars to acquire the shares held by SoftBank. .

Sun Zhengyi is very clear about this, and so is Xia Jingxing.

If Fuxing Mobile and WeChat hadn't gone overseas and needed SoftBank's care, maybe he would have been in trouble.

However, Lao Sun is a kind man after all, and there is no need for both sides to stab each other.

"What I mean is to extend the period agreed upon in the repurchase agreement by one, two, three... just three years!"

Xia Jingxing observed Sun Zhengyi's face as he spoke. Fortunately, he didn't drop the cup or flip the table.

"Dylan, did you plan this two years ago?"

Faced with Sun Zhengyi's questioning, Xia Jingxing denied it and said: "I am not a god, how can I accurately calculate so many variable factors.

However, some bad changes have indeed occurred. Facebook's market value is only just over US$100 billion. If its performance changes due to the acquisition of oil pipelines, the stock price may not be able to sustain it.

And Facebook’s board of directors will definitely not support this acquisition decision.

There are too many internal and external resistances, and this matter needs to be discussed in the long term! "

Sun Zhengyi thought about it in his mind and found that what Xia Jingxing said made some sense.

However, Xia Jingxing made a "three-year agreement" to trick him into getting into the car, which still made him feel unhappy.

"Of course, I'm sorry for you, so I decided to make it up to you."

Having said this, Xia Jingxing smiled and said, "I know you still have thoughts about oil pipes, but you just worry too much.

Let's just do this. You will be given half of the financing share of this round of financing by Oil Pipe. At the same time, Oil Pipe will sign a gambling agreement with the investors of this round. If you cannot go public within the next three years, you will let other shareholders of Oil Pipe provide part of their equity compensation. Investors in this round. "

Upon hearing that there was gambling compensation, Son became immediately interested and asked, "Are you sure there will be no resistance to this?"

"There must be resistance! But together you and I are the largest shareholders. We can bargain with others, and at the same time put some pressure on them, lest they not support Facebook's acquisition of YouTube in the future."

Son was a little moved and said: "Those people are both Facebook shareholders and YouTube shareholders. As long as they agree to the merger, there shouldn't be much resistance, right?"

"Yes, that's what I'm attracted to. As long as they vote in favor and Facebook's profits reach the level of being able to independently support YouTube, then everything is ready and all we need is east wind."

Xia Jingxing lowered his voice and said, "Moreover, the oil pipeline does not reflect its true value now. If it operates for another three years, it will most likely be profitable."

Xia Jingxing did not guarantee a profit. After all, Son also had his own judgment.

Son Zhengyi nodded slightly, "This method is not bad, I have no objection."

Xia Jingxing smiled and said, "If you don't have any objections, let's take action as soon as possible to avoid things changing later."

"Institutional shareholders such as Waterfall Investment and Axel should agree to the bet, right?"

Sun Zhengyi looked at Xia Jingxing. If he didn't sign the betting agreement, he would be killed and wouldn't be able to get in the car.

"Don't worry, I'll take care of them."

Seeing that Xia Jingxing was so confident, Sun Zhengyi suddenly felt much more at ease.

Then, Xia Jingxing talked with Sun Zhengyi about reviving FX3 and WeChat, hoping that the other party would help take care of sales and operations in the Japanese market.

Son Zhengyi naturally agreed wholeheartedly, because the oil pipeline solution satisfied him.

Although he knew that Xia Jingxing might have plotted against him, as long as he could make money, who cared so much?

Xia Jingxing was plotting against him, and he was plotting against Xia Jingxing.

Moreover, Xia Jingxing's wealth and status were not inferior to his now, so the advantages of maintaining a good cooperative relationship between the two of them outweighed the disadvantages.

After sending Son Zhengyi away, Xia Jingxing stayed alone in the office to settle accounts.

This time, in order to fill in the hole dug two years ago and at the same time appease Son Zhengyi's emotions, he filled in himself.

However, Vision Capital’s next investment does not require him to pay for it. Aren’t China Investment Group and the blue-blood aristocrats clamoring for additional investment? Just enough to fill the hole in the oil pipe.

If you always pick up the sheep like Son, you will easily become bald.

Then again, investing in oil pipelines is not a sinkhole. At most, the return on investment is lower and the time is longer.

If he hadn't been deliberately cutting back on investment in the United States and diverting funds to invest in domestic and Singaporean industries, he might have done it himself.

There is also the fact that he has not been able to acquire oil pipelines in the past three years. It is not that he is deceiving Masayoshi Son, but that is the fact.

Next, Facebook will have to do instant messaging, support Twitter and Soundpot, and also acquire and feed Android. All of these things require a lot of money. For the time being, they can’t take care of YouTube and can only do whatever they want. It remains free to develop for another two or three years.

…………

…………

Four days later, June 6th.

Xia Jingxing once again stood on the Nasdaq bell-ringing platform and rang the Tesla listing bell together with Straubel, Franz, Rawlinson and other senior executives.

Standing behind them, representatives of institutional shareholders such as Draper and Antonio applauded.

Shareholders such as Toyota, Daimler, Bezos Ventures, and Waterfall Investment also sent representatives to congratulate and participate in the listing ceremony. Everyone had smiles on their faces.

Compared with Facebook, which went public with great fanfare, Tesla's listing also has its own unique features.

Times Square Advertising Screen

The S exhibition car is for passers-by and reporters squatting there to watch and take pictures.

Xia Jingxing and Tesla shareholders and executives were completely overshadowed by the two cars. After simply taking a photo, they returned to the trading floor to check the stock price trend.

Tesla's listing price was US$20 per share, and the opening price was US$21.5. After that, the stock price continued to rise, heading straight to US$30.

Seeing this scene, Straubel shook his fist fiercely, and his excitement was palpable.

Xia Jingxing just smiled slightly, without much emotion. Such a small scene could no longer impress him.

However, this time Tesla’s IPO financing can indeed be called a great success.

15 million shares were issued at a price of US$20 per share. If the green shoe option is successfully exercised, an additional 2.25 million shares will be issued. The total amount raised will reach US$345 million, and the total equity after the issuance will reach 167.25 million shares.

"Darren, look, the market value has exceeded US$4 billion."

Straubel pointed at the screen and yelled.

Xia Jingxing raised his head and glanced, "Yes, we are one step closer to the tens of billions of dollars mark."

Straubel said with a smile: "How can it be so easy to reach a market value of tens of billions so quickly?"

"This is the goal I set for you, to reach a market value of tens of billions within a year."

Straubel's eyes widened, but he didn't look at Xia Jingxing as if he was joking.

"Yes, if we deliver another 20,000 cars next year, the market value will definitely exceed 10 billion US dollars."

The two turned around and saw Draper walking towards them with a smile on his face.

Xia Jingxing smiled and said, "Mr. Draper, you have confidence in Tesla."

Draper smiled and said nothing. He didn't have confidence in Tesla, he had confidence in Xia Jingxing.

After the IPO financing dilution, DFJ is still Tesla's largest shareholder except for Xia Jingxing's two investment institutions, with a shareholding ratio of as high as 10.31%.

Originally, Draper's shareholding ratio was not so high. Draper bought it from Eberhard and Tarpenning at a huge cost.

If you include the tens of millions of dollars DFJ originally invested in Tesla, the total investment cost is almost $100 million.

Judging from Tesla's current stock price and market value, DFJ's investment has only earned three or four times, and the absolute return is not high, only two to three billion US dollars.

Compared with Axel who invested in Facebook, DFJ’s investment in Tesla was simply unavailable.

In fact, Draper did have some sleepless nights in the past few days, lying in bed tossing and turning, thinking about what happened to him when he missed Facebook a few years ago.

Now he can only place his hope on Xia Jingxing, hoping that he will lead Facebook to achieve greater glory.

I don’t dare to expect a market value of 100 billion, but I can still look forward to a market value of 10 billion.

"Darren, you still have a good vision. You have been investing more in Tesla over the years.

Now Tesla is finally on the market. Although the market value is not too high, it is at least a good start. "

Draper looked at Xia Jingxing with a smile. In Tesla, Xia Jingxing's superhuman investment vision was once again confirmed.

Currently, Tesla's largest institutional shareholder is Vision Capital, with a shareholding ratio of 34.13%. The second largest institutional shareholder is Daxia Capital, with a shareholding of 13.48%. The two hold a total of 47.61% of the shares, based on Tesla's current stock price. , the stock holdings of the two institutions are worth almost US$2 billion.

And how much money has Xia Jingxing invested in Tesla over the years? The total amount added up to more than 100 million US dollars.

Although this investment was completely inconspicuous in Xia Jingxing's investment career, it was the biggest gainer within Tesla.

Whether it was SDL and Compass, two small venture capital firms that invested in Tesla at the same time as Xia Jingxing, or Value Equity Capital, which invested in Tesla in the later round, there was no unwavering bet due to various reasons.

It was only in the past two years that Draper began to wake up and realized that he seemed to have missed something, and then frantically made amends.

Facing Draper's praise, Xia Jingxing smiled lightly, "That's right, a good start. Tesla still has some way to go before it truly matures.

A mature car company is at least profitable, and its annual car deliveries are measured in hundreds of thousands or millions. "

Draper nodded secretly, and he could see this, so he made up his mind not to get off the car easily. He couldn't miss the Tesla ride no matter what.

After all the listing ceremonies, Xia Jingxing and everyone walked out of the building and prepared to leave Times Square.

As soon as I left the building, I was surrounded by reporters from all directions.

"Darren, how does it feel to ring the bell twice in a row?"

"Darren, some people say that you made at least 2 billion US dollars in Tesla, making up for the regrets in Facebook. What do you think of this?"

"Some financial experts have commented that Tesla's market value is full of bubbles, and have advised investors to stay away from Tesla. Do you have any response?"

…

Xia Jingxing did not answer the reporter's question, but pushed Straubel who was standing next to him out.

"Let me solemnly introduce to you that this is Mr. Straubel. He is the CEO of Tesla and is responsible for all the daily affairs of the company. If you have any questions, everyone can come to him.

And I am just an investor! "

After pushing Straubel out as a shield, Xia Jingxing immediately asked his bodyguards to separate a passage and left the scene in a car.

In addition to the fact that he has something to deal with in a hurry, there is also the meaning of cultivating Straubel.

Now that Tesla is becoming more and more dazzling, the problems are beginning to increase, so it is time for him to return to his original identity.

He believes that Straubel can definitely be a good CEO.

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