My Age of Investment

Subsequently, with various mixed emotions, the shareholders followed Xia Jingxing in the elevator to the ultra-luxury conference room on the 50th floor of Building A.

Zhang Yong had already been waiting at the door of the conference room early. When he saw the shareholders arriving, he very enthusiastically welcomed them into the brightly lit conference room by the window. Then he asked his administrative assistant to pour some for everyone. Cup of tea and coffee.

Everyone was sitting under the stage, drinking drinks, and listening to Zhang Yong standing on the stage reporting his work.

Behind Zhang Yong is a large screen that has just been installed, and groups of financial data are currently displayed on the screen.

“As of the first three quarters of this year, Domestic Holding Group has created a total revenue of 14.554 billion yuan. When the fourth quarter revenue is calculated, the full-year revenue is expected to reach 20 billion yuan.

This number is double that of last year!

In other words, Domestic Holdings' revenue increased by 100% year-on-year.

After deducting the financial consolidation factors of several newly acquired companies, the annual revenue growth rate also exceeded 90%. "

After hearing these sets of data reported by Zhang Yong, the shareholders couldn't help but exchange looks with each other, and they all saw the shock in each other's eyes.

After several years of development and mergers and acquisitions, Domestic Holdings Group has become a large Internet company, but it still maintains rapid development.

This gave the shareholders present a different thought!

In the past, they only participated in the A+ and B-round financing of domestic holding groups, and were absent from the C-round financing.

At that time, they felt that the pre-money valuation of US$4 billion was too high. How could they know that one mountain is higher than the other.

At this time, almost two years have passed since the C round of financing. In these two years, Domestic Holding Group has completed a double jump in revenue of 10 billion and 20 billion.

In traditional industries or some mature Internet companies with slow revenue growth, these two levels of jump are enough for them to struggle for ten or eight years.

However, it only took the domestic holding group two years to achieve this series of breakthroughs.

So what is the core revenue growth password?

Zhang Yong soon revealed the answer.

He pointed to a set of pictures that had just been switched out using a ppt controller and said: "In the group's total revenue structure, game revenue accounted for 65%. Last year, this figure was only 60%.

Due to the continuous launch of hit online games, our share in China's online game market has reached more than 30%, firmly occupying the first position in the industry. "

Hearing this, all the shareholders showed expressions as if this was indeed the case.

The importance of the game business to Overseas Holdings has become more and more prominent, and Overseas Holdings can even be called a game company.

Zhang Yong smiled and said: "The reason why the game business revenue share is getting higher and higher. The first is that the game business is growing very fast, and the second is that other business revenue including advertising is growing too slowly.

In fact, the revenue growth rate of other businesses is not slow, but compared with the game business, it seems a bit slow.

This is also one of the group's key tasks next year, to further tap the revenue growth potential of other businesses, and we cannot always let the game business dominate the world. "

Xia Jingxing looked at the financial data on the screen and felt a strange feeling in his heart.

The earliest label of Overseas Holding Group was a social enterprise, but as a result, it has developed into a game company.

There is no way, the game business is indeed too profitable. Without the game business, the total revenue of the Overseas Holding Group is less than 10 billion, and it is still "over one billion on the Overseas Network, more than one billion on Weibo, hundreds of millions on Tudou.com, "Kugou Music has hundreds of millions" was pieced together like this.

It is precisely because the game business makes money so quickly and easily that so many Internet companies dove into the game field regardless.

The enthusiasm of Internet companies for games at this time will be reflected in the wave of Internet financial entrepreneurship many years later.

"Games, as the group's pillar business, contributed a total of 6 billion in net profit in the first three quarters of this year."

After hearing this, the shareholders had no time to be happy, only to hear Zhang Yong change the subject and say: "But our operating cash flow is still negative, because this year we purchased buildings and established joint ventures in South Korea, Japan, and Singapore. , established a WeChat business group, and companies such as Tudou, Kugou Music, and Domestic Literature are still in the stage of strategic losses..."

After listening to Zhang Yong's introduction, the shareholders discovered that Xia Jingxing had not deceived them, because Haihai Holdings was now really making money and spending money.

As a cash cow, Domestic Gaming's annual net profit is estimated to be 7 to 8 billion, but it is still difficult to support the entire group.

In the final analysis, the domestic holding group is still too tossing, launching WeChat, going overseas, buying buildings... No matter how strong the family background is, they cannot withstand such tossing.

This year, Domestic Holding Group also acquired two Korean game developers, Neople and Silegate, acquired Sogou, and invested in UC Browser and AutoNavi.

When all is said and done, the money spent in the past two years is an astronomical figure.

Fortunately, Neople and Silegate were priced at US$4 billion, and they adopted the issuance of additional shares of Overseas Holdings for acquisition, and did not adopt cash acquisitions, otherwise the cash flow of Overseas Holdings would have been exhausted long ago.

Even though a large amount of cash was saved in these two large-scale acquisitions, there is still not much money left in the accounts of Overseas Holdings.

Soon Zhang Yong talked about the lack of money. He smiled bitterly and said: "The company's net profit from the game business last year was 4 billion. After smoothing out the losses of other businesses and R\u0026D expenses, there was still a surplus of 1.5 billion.

This is because there was no large-scale investment and expansion action last year.

This year, just to acquire and invest in Sogou, UC Browser and AutoNavi, we paid US$1.0416 billion in cash, which is almost equal to the cash inflow from Series C financing.

Domestic games did not make much profit this year. After smoothing out other business losses and various expenses, only 500 million yuan was left.

At present, there is only 2 billion yuan left in the accounts of Overseas Holdings, which is just enough to pay for the transaction of the Overseas Building.

Oh, no, the official selling price of the Overseas Building is 2.5 billion yuan. We have not paid this amount yet.

If we pay this fee, the cash on our account will be negative. "

The shareholders were completely dumbfounded. They knew that Haihai Holdings could make troubles, but they did not expect that it could make things so difficult.

Especially in recent months, including the acquisition of two Korean game manufacturers, tens of billions have been spent.

Thinking of this, they all silently turned their attention to Xia Jingxing. All the money was spent by Xia Jingxing, and Xia Jingxing proposed starting new financing, which made them doubt Xia Jingxing's true intentions.

They did not participate in the C round of financing, which was undertaken by Xia Jingxing alone.

Now that the D round of financing is about to start again, will Xia Jingxing do it all by himself again?

Seeing the way everyone looked at him, Xia Jingxing thought they had objections to the sale price of Hainan Building, so he explained specifically: "The cost of Fuxing Building slightly exceeded the estimated 2 billion yuan. When it was resold to Hainan Holdings, a few more billion, priced at 2.5 billion.

Considering the scarcity of land in Shangdi Technology Park and the increase in housing prices in Beijing in the past two years, I think this transaction price is reasonable. "

"Mr. Xia, we have no objection to the selling price of the building. This price can indeed be called a friendly price."

Xu Xin looked at the shareholders sitting around and smiled: "What we want to ask about is the D-round financing."

Xia Jingxing heard the elegant meaning of Xiange, smiled and said, "Isn't this asking for everyone's opinions?

There are still many places where domestic holding groups will spend money next year, including overseas WeChat, domestic WeChat, domestic cloud and enterprise service business groups, as well as search engines and other fragmented businesses.

Our only truly mature business is games, Weibo is barely half of it, and we need to invest more in other businesses.

Only when these businesses become bigger and profitable will the time for the overall listing of the domestic holding group to be truly mature.

I hope everyone can understand this. "

Lin Xinhe said with a smile: "Mr. Xia, we all understand what you said.

Penguin has raised more than 10 billion yuan this year. Isn’t it full of energy to fight a life-or-death battle with WeChat?

I think there is absolutely no problem with the group’s current plan. We should spend what we should spend, and we must not leave Penguin breathing space just to save money.

And Qianxun is not a fuel-saving lamp. Now they dominate the search engine market and receive a steady stream of advertising revenue.

If Sogou wants to tear a piece of meat from Qianxun, it must be determined enough. "

Chen Hong nodded and said: "Yes, Domestic Holdings still has two tough battles to fight. If we win these two battles, our industry position will be completely stable."

Zhu Min smiled slightly, "Jing Xing, just tell me how much you plan to raise. Cybernaut Investment Company will never be absent this time."

Deng Feng hesitated for a moment and then said: "Northern Light Investment will also invest in this round."

Not to be outdone, Xu Xin, Lin Xinhe and others also expressed their intention to participate in the D round of financing.

Since Xia Jingxing and his family secured the C round of financing and later acquired two Korean game companies, the shareholdings of all institutional and individual shareholders present, except Chen Hong, were diluted.

Domestic Holding Group has shown a rapid development trend. If it does not participate in investment at this time, it may be directly listed later, and there will no longer be an opportunity to invest in the primary market, so everyone has quickly made major decisions. The decision must not be missed in this wealth feast.

Everyone expressed their intention to participate in the D-round financing, which stumped Xia Jingxing.

His ideal financing target is actually someone else.

Xia Jingxing said calmly: "I already understand everyone's thoughts.

But for this round of financing, I plan to introduce SoftBank Capital! "

Upon hearing this, everyone was disappointed. Can't we divide the cake among ourselves? Why are you looking for SoftBank?

Looking at the puzzled looks in everyone's eyes, Xia Jingxing explained: "SoftBank is an international investment institution, and it also cooperated with us to establish Japan WeChat, so it is necessary to further close the relationship with each other."

Xia Jingxing actually had his own Xiao Jiujiu in his heart. He and Jackma negotiated the shares of Alipay and kicked Facebook and SoftBank out of the game.

Facebook is easy to talk about, and Masayoshi Son definitely has opinions on this.

Fuxing Mobile still cooperates with SoftBank in Japan, so Xia Jingxing needs to appease or compensate Son.

The D-round financing of Overseas Holdings was the compensation cake he gave to Sun Zhengyi.

In the past, Sun Zhengyi had always wanted to participate in the financing of domestic holding groups, but Xia Jingxing was not short of money at that time, and at that time, he did not need Sun Zhengyi to give a certain degree of care to his industry in Japan, so the matter has been delayed. With.

After so many years, seeing that domestic holding groups are developing better and better, Sun Zhengyi has never given up the idea of ​​​​investing. He often mentioned this matter when meeting Xia Jingxing.

Today's valuation of domestic holding groups is no longer a small amount. Except for PE funds, I am afraid that few people can invest in it.

Of course, the exception is Son Zhengyi. This man is not short of money.

"What is the valuation for this round of financing?" Xu Xin asked.

"$30 billion!"

Chen Hong was drinking water. When he heard these words, he almost spit out his words. This was really treating Sun Zhengyi as a fat sheep.

Other shareholders also expressed surprise. Zhu Min even widened his eyes and said: "When we acquired Shimankai and neople some time ago, wasn't it only valued at US$20 billion?"

Everyone focused their attention on Xia Jingxing, wanting to see how he would explain.

Son Zhengyi is an old man, and this fat sheep is not so easy to slaughter.

Xia Jingxing counted his fingers and calculated the accounts for everyone: "After acquiring two Korean game companies, the post-investment valuation of the domestic holding group has increased to US$24 billion.

It acquired Sogou, entered the search engine market, and reached an annual subscription agreement with 360. This market share can reach at least one-fifth or one-quarter of Qianxun.

What is Qianxun’s market value? More than 30 billion US dollars!

Calculated based on 30 billion U.S. dollars, multiplied by one-fifth, it equals 6 billion U.S. dollars.

24 billion plus 6 billion, doesn’t it equal 30 billion US dollars?

The combined equity of Hainan Building, UC Browser and Amap is worth more than US$1 billion, and this part was given to Son as a fraction. "

After understanding Xia Jingxing's god-level valuation logic, everyone was speechless.

It seems to make some sense, but I vaguely feel that something is wrong.

Xu Xin smiled and said: "Mr. Xia, Sogou's current market share is in single digits, and it is still far from double digits.

Will Son recognize things that have not yet been realized? "

Xia Jingxing raised his fingers again and said: "Sogou Browser, UC Browser, 360 Browser and Website Navigation, these products together account for at least 60 to 70% of the browser market share.

They all use Sogou's search engine by default. How much traffic will this increase for Sogou?

Moreover, I have also reached an agreement with Jack Ma. Sogou will continue to cooperate with Ahri to develop e-commerce search.

The social network resources of domestic holding groups will also be opened to Sogou.

With so many resources added up, Wang Xiaochuan is just a pig and can take Qianxun's market share by more than ten or twenty points. "

Everyone nodded involuntarily, it seemed to make sense!

If you can't defeat Chihiro, you can at least tear off a piece of flesh from it.

I think Mr. Xia’s valuation logic works!

Chen Hong laughed loudly and said: "If you can convince Sun Zhengyi to invest according to the pre-money valuation of US$30 billion, then Hanergy Investment will also invest. Don't increase the share. Just maintain the existing shareholding and not be diluted." .”

"Yes, Cybernaut will be fine as long as it is not diluted."

“Count it as one of today’s capital!”

…

Others spoke one after another, requesting to follow in the investment, but the required financing share was not high, as long as the existing shares were maintained without being diluted.

Xia Jingxing thought for a while, nodded and said: "Everyone is so kind, I don't want to let everyone feel cold.

Let’s raise funds according to everyone’s plan! But we must act quickly, and the financing must be in place before the New Year! "Then, with various mixed emotions, the shareholders followed Xia Jingxing and took the elevator to the ultra-luxury conference room on the 50th floor of Building A.

Zhang Yong had already been waiting at the door of the conference room early. When he saw the shareholders arriving, he very enthusiastically welcomed them into the brightly lit conference room by the window. Then he asked his administrative assistant to pour some for everyone. Cup of tea and coffee.

Everyone was sitting under the stage, drinking drinks, and listening to Zhang Yong standing on the stage reporting his work.

Behind Zhang Yong is a large screen that has just been installed, and groups of financial data are currently displayed on the screen.

“As of the first three quarters of this year, Domestic Holding Group has created a total revenue of 14.554 billion yuan. When the fourth quarter revenue is calculated, the full-year revenue is expected to reach 20 billion yuan.

This number is double that of last year!

In other words, Domestic Holdings' revenue increased by 100% year-on-year.

After deducting the financial consolidation factors of several newly acquired companies, the annual revenue growth rate also exceeded 90%. "

After hearing these sets of data reported by Zhang Yong, the shareholders couldn't help but exchange looks with each other, and they all saw the shock in each other's eyes.

After several years of development and mergers and acquisitions, Domestic Holdings Group has become a large Internet company, but it still maintains rapid development.

This gave the shareholders present a different thought!

In the past, they only participated in the A+ and B-round financing of domestic holding groups, and were absent from the C-round financing.

At that time, they felt that the pre-money valuation of US$4 billion was too high. How could they know that one mountain is higher than the other.

At this time, almost two years have passed since the C round of financing. In these two years, Domestic Holding Group has completed a double jump in revenue of 10 billion and 20 billion.

In traditional industries or some mature Internet companies with slow revenue growth, these two levels of jump are enough for them to struggle for ten or eight years.

However, it only took the domestic holding group two years to achieve this series of breakthroughs.

So what is the core revenue growth password?

Zhang Yong soon revealed the answer.

He pointed to a set of pictures that had just been switched out using a ppt controller and said: "In the group's total revenue structure, game revenue accounted for 65%. Last year, this figure was only 60%.

Due to the continuous launch of hit online games, our share of the Chinese online game market has reached more than 30%, firmly occupying the first position in the industry. "

Hearing this, all the shareholders showed expressions as if this was indeed the case.

The importance of the game business to Overseas Holdings has become more and more prominent, and Overseas Holdings can even be called a game company.

Zhang Yong smiled and said: "The reason why the game business revenue share is getting higher and higher. The first is that the game business is growing very fast, and the second is that other business revenue including advertising is growing too slowly.

In fact, the revenue growth rate of other businesses is not slow, but compared with the game business, it seems a bit slow.

This is also one of the group's key tasks next year, to further tap the revenue growth potential of other businesses, and we cannot always let the game business dominate the world. "

Xia Jingxing looked at the financial data on the screen and felt a strange feeling in his heart.

The earliest label of Overseas Holding Group was a social enterprise, but as a result, it has developed into a game company.

There is no way, the game business is indeed too profitable. Without the game business, the total revenue of the Overseas Holding Group would be less than 10 billion, and it would still be "over 1 billion on Overseas.com, over 1 billion on Weibo, hundreds of millions on Tudou.com, "Kugou Music has hundreds of millions" was pieced together like this.

It is precisely because the game business makes money so quickly and easily that so many Internet companies dove into the game field regardless.

The enthusiasm of Internet companies for games at this time will be reflected in the wave of Internet financial entrepreneurship many years later.

"Games, as the group's pillar business, contributed a total of 6 billion in net profit in the first three quarters of this year."

After hearing this, the shareholders had no time to be happy, only to hear Zhang Yong change the subject and say: "But our operating cash flow is still negative, because this year we purchased buildings and established joint ventures in South Korea, Japan, and Singapore. , established a WeChat business group, and companies such as Tudou, Kugou Music, and Domestic Literature are still in the stage of strategic losses..."

After listening to Zhang Yong's introduction, the shareholders discovered that Xia Jingxing had not deceived them, because Haihai Holdings was now really making money and spending money.

As a cash cow, Domestic Gaming's annual net profit is estimated to be 7 to 8 billion, but it is still difficult to support the entire group.

In the final analysis, the domestic holding group is still too tossing, launching WeChat, going overseas, buying buildings... No matter how strong the family background is, they cannot withstand such tossing.

This year, Domestic Holding Group also acquired two Korean game developers, Neople and Silegate, acquired Sogou, and invested in UC Browser and AutoNavi.

When all is said and done, the money spent in the past two years is an astronomical figure.

Fortunately, Neople and Silegate were priced at US$4 billion, and they adopted the issuance of additional shares of Overseas Holdings for acquisition, and did not adopt cash acquisitions. Otherwise, the cash flow of Overseas Holdings would have been exhausted long ago.

Even though a large amount of cash was saved in these two large-scale acquisitions, there is still not much money left in the accounts of Overseas Holdings.

Soon Zhang Yong talked about the lack of money. He smiled bitterly and said: "The company's net profit from the game business last year was 4 billion. After smoothing out the losses of other businesses and R\u0026D expenses, there was still a surplus of 1.5 billion.

This is because there was no large-scale investment and expansion action last year.

This year, just to acquire and invest in Sogou, UC Browser and AutoNavi, we paid US$1.0416 billion in cash, which is almost equal to the cash inflow from Series C financing.

Domestic games did not make much profit this year. After smoothing out other business losses and various expenses, only 500 million yuan was left.

At present, there is only 2 billion yuan left in the accounts of Overseas Holdings, which is just enough to pay for the transaction of the Overseas Building.

Oh, no, the official selling price of the Overseas Building is 2.5 billion yuan. We have not paid this amount yet.

If we pay this fee, the cash on our account will be negative. "

The shareholders were completely dumbfounded. They knew that Haihai Holdings could make troubles, but they did not expect that it could make things so difficult.

Especially in recent months, including the acquisition of two Korean game manufacturers, tens of billions have been spent.

Thinking of this, they all silently turned their attention to Xia Jingxing. All the money was spent by Xia Jingxing, and Xia Jingxing proposed starting new financing, which made them doubt Xia Jingxing's true intentions.

They did not participate in the C round of financing, which was undertaken by Xia Jingxing alone.

Now that the D round of financing is about to start again, will Xia Jingxing do it all by himself again?

Seeing the way everyone looked at him, Xia Jingxing thought they had objections to the sale price of Hainan Building, so he explained specifically: "The cost of Fuxing Building slightly exceeded the estimated 2 billion yuan. When it was resold to Hainan Holdings, a few more billion, priced at 2.5 billion.

Considering the scarcity of land in Shangdi Technology Park and the increase in housing prices in Beijing in the past two years, I think this transaction price is reasonable. "

"Mr. Xia, we have no objection to the selling price of the building. This price can indeed be called a friendly price."

Xu Xin looked at the shareholders sitting around and smiled: "What we want to ask about is the D-round financing."

Xia Jingxing heard the elegant meaning of Xiange, smiled and said, "Isn't this asking for everyone's opinions?

There are still many places where domestic holding groups will spend money next year, including overseas WeChat, domestic WeChat, domestic cloud and enterprise service business groups, as well as search engines and other fragmented businesses.

Our only truly mature business is games, Weibo is barely half of it, and we need to invest more in other businesses.

Only when these businesses become bigger and profitable will the time for the overall listing of the domestic holding group to be truly mature.

I hope everyone can understand this. "

Lin Xinhe said with a smile: "Mr. Xia, we all understand what you said.

Penguin has raised more than 10 billion yuan this year. Isn’t it full of energy to fight a life-or-death battle with WeChat?

I think there is absolutely no problem with the group’s current plan. We should spend what we should spend, and we must not leave Penguin breathing space just to save money.

And Qianxun is not a fuel-saving lamp. Now they dominate the search engine market and receive a steady stream of advertising revenue.

If Sogou wants to tear off a piece of flesh from Qianxun, it must be determined enough. "

Chen Hong nodded and said: "Yes, Domestic Holdings still has two tough battles to fight. If we win these two battles, our industry position will be completely stable."

Zhu Min smiled slightly, "Jing Xing, just tell me how much you plan to raise. Cybernaut Investment Company will never be absent this time."

Deng Feng hesitated for a moment and then said: "Northern Light Investment will also invest in this round."

Not to be outdone, Xu Xin, Lin Xinhe and others also expressed their intention to participate in the D round of financing.

Since Xia Jingxing and his family secured the C round of financing and later acquired two Korean game companies, the shareholdings of all institutional and individual shareholders present, except Chen Hong, were diluted.

Domestic Holding Group has shown a rapid development trend. If it does not participate in investment at this time, it may be directly listed later, and there will no longer be an opportunity to invest in the primary market, so everyone has quickly made major decisions. The decision must not be missed in this wealth feast.

Everyone expressed their intention to participate in the D-round financing, which stumped Xia Jingxing.

His ideal financing target is actually someone else.

Xia Jingxing said calmly: "I already understand everyone's thoughts.

But for this round of financing, I plan to introduce SoftBank Capital! "

Upon hearing this, everyone was disappointed. Can't we divide the cake among ourselves? Why are you looking for SoftBank?

Looking at the puzzled looks in everyone's eyes, Xia Jingxing explained: "SoftBank is an international investment institution, and it also cooperated with us to establish Japan WeChat, so it is necessary to further close the relationship with each other."

Xia Jingxing actually had his own Xiao Jiujiu in his heart. He and Jackma negotiated the shares of Alipay and kicked Facebook and SoftBank out of the game.

Facebook is easy to talk about, and Masayoshi Son definitely has opinions on this.

Fuxing Mobile still cooperates with SoftBank in Japan, so Xia Jingxing needs to appease or compensate Son.

The D-round financing of Overseas Holdings was the compensation cake he gave to Sun Zhengyi.

In the past, Sun Zhengyi had always wanted to participate in the financing of domestic holding groups, but Xia Jingxing was not short of money at that time, and at that time, he did not need Sun Zhengyi to give a certain degree of care to his industry in Japan, so the matter has been delayed. With.

After so many years, seeing that domestic holding groups are developing better and better, Sun Zhengyi has never given up the idea of ​​​​investing. He often mentioned this matter when meeting Xia Jingxing.

Today's valuation of domestic holding groups is no longer a small amount. Except for PE funds, I am afraid that few people can invest in it.

Of course, the exception is Son Zhengyi. This man is not short of money.

"What is the valuation for this round of financing?" Xu Xin asked.

"$30 billion!"

Chen Hong was drinking water. When he heard these words, he almost spit out his words. This was really treating Sun Zhengyi as a fat sheep.

Other shareholders also expressed surprise. Zhu Min even widened his eyes and said: "When we acquired Shimankai and neople some time ago, wasn't it only valued at US$20 billion?"

Everyone focused their attention on Xia Jingxing, wanting to see how he would explain.

Son Zhengyi is an old man, and this fat sheep is not so easy to slaughter.

Xia Jingxing counted his fingers and calculated the accounts for everyone: "After acquiring two Korean game companies, the post-investment valuation of the domestic holding group has increased to US$24 billion.

It acquired Sogou, entered the search engine market, and reached an annual subscription agreement with 360. This market share can reach at least one-fifth or one-quarter of Qianxun.

What is Qianxun’s market value? More than 30 billion US dollars!

Calculated based on 30 billion U.S. dollars, multiplied by one-fifth, it equals 6 billion U.S. dollars.

24 billion plus 6 billion, doesn’t it equal 30 billion US dollars?

The combined equity of Hainan Building, UC Browser and Amap is worth more than US$1 billion, and this part was given to Son as a fraction. "

After understanding Xia Jingxing's god-level valuation logic, everyone was speechless.

It seems to make some sense, but I vaguely feel that something is wrong.

Xu Xin smiled and said: "Mr. Xia, Sogou's current market share is in single digits, and it is still far from double digits.

Will Son recognize things that have not yet been realized? "

Xia Jingxing raised his fingers again and said: "Sogou Browser, UC Browser, 360 Browser and Website Navigation, these products together account for at least 60 to 70% of the browser market share.

They all use Sogou's search engine by default. How much traffic will this increase for Sogou?

Moreover, I have also reached an agreement with Jack Ma. Sogou will continue to cooperate with Ahri to develop e-commerce search.

The social network resources of domestic holding groups will also be opened to Sogou.

With so many resources added up, Wang Xiaochuan is just a pig and can take Qianxun's market share by more than ten or twenty points. "

Everyone nodded involuntarily, it seemed to make sense!

If you can't defeat Chihiro, you can at least tear off a piece of flesh from it.

I think Mr. Xia’s valuation logic works!

Chen Hong laughed loudly and said: "If you can convince Sun Zhengyi to invest according to the pre-money valuation of US$30 billion, then Hanergy Investment will also invest. Don't increase the share. Just maintain the existing shareholding and not be diluted." .”

"Yes, Cybernaut will be fine as long as it is not diluted."

“Count it as one of today’s capital!”

…

Others spoke one after another, requesting to follow in the investment, but the required financing share was not high, as long as the existing shares were maintained without being diluted.

Xia Jingxing thought for a while, nodded and said: "Everyone is so kind, I don't want to let everyone feel cold.

Let’s raise funds according to everyone’s plan! But we must act quickly, and the financing must be in place before the New Year! "