My Age of Investment

San Francisco Chinatown. Hongyun Restaurant. Xia Jingxing ordered a large table of sumptuous Chinese food and invited Rao Lei and Liu Jian. After a few glasses of white wine, the three slowly opened the chat box. "Jing Xing, did Axel really vote you 50 million dollars? Not RMB?" Xia Jingxing was amused by Rao Lei's words, "This is the United States, how could they vote us RMB?" Rao Lei and Liu Jian looked at each other At a glance, they all took a deep breath. It's not that people are poor and short-sighted, but that such a large-scale A round of financing is extremely rare in the world. "With a $55.55 million Series A financing, Facebook's post-investment valuation is $555.55 million?" Liu Jian didn't believe it, but was just too curious. a miracle. When Xia Jingxing saw that the two of them kept asking questions, he simply explained it one by one. "Has the formal delivery been made?" Hearing this, Rao Lei asked. Xia Jingxing nodded, "The day after tomorrow, there will be a press conference on Series A financing in Silicon Valley, and then there will be a thank you reception. Come and join us!" Rao Lei suddenly felt that the table full of delicious food was boring. It wasn't that he was jealous of Xia Jingxing, but he was a little bit shocked. He and Liu Jian have been in the United States for ten years, in their early thirties, and they are still running around for a million dollar angel investment, begging for help. The person in front of him, at the age of 20, is in charge of a company with a valuation of more than 4 billion yuan. People are more mad than people! Dispelling his thoughts, Rao Lei raised his wine glass and clinked with Xia Jingxing: "Jing Xing, this glass is for you, and I wish you more and more success in your career. I think when we first came to the United States to study in the United States, we were looked down upon by white classmates and teachers. , they think that Chinese people can only work part-time jobs, wash dishes as waiters, and can only work in low-end technical jobs after graduation. You can create a career in the United States, and in some respects, our compatriots also have light on their faces. , greatly boosted the Chinese people's aspirations." "Yes!" Liu Jian also picked up his glass and said, "Chinese people can also be bosses in the United States, and they can also list companies, Deng Feng is a very good one. For example. I wish Facebook to go public as soon as possible! I wish you, Jing Xing, to become a new generation of business idols!" Xia Jingxing thanked him repeatedly and toasted the two of them one by one. After a few more glasses of wine,

Xia Jingxing felt that the whole person was a little drunk. "I heard that Jing Xing has dropped out of school?" Rao Lei took a bite of the dish into his stomach and asked with his head sideways. "Yes, I'm too busy to take care of my studies at all." Liu Jian nodded and said, "It's me, the company has achieved this scale, and I can only drop out of school to start a business. After all, you can't have both." Rao Lei said with a smile, "You've already broken down and strengthened your entrepreneurial beliefs. Come on!" Xia Jingxing chatted with the two again and mentioned the financing of Youyoumi. "Brayer told me that Youyoumi is looking for a round of angel investment. How's it going?" Xia Jingxing glanced at the two and said with a smile, "If necessary, Facebook can also invest." Liu Jian nodded. Before coming here for dinner, Breyer had communicated with the two of them, and they were mentally prepared for the Facebook investment. He smiled and said: "Axel and DCM have shown relatively strong interest in us at present, and are talking with them. Mr. Breyer also mentioned to us the plan of "Axel and Facebook co-investment". He tilted his head and asked, "Jing Xing, what do you think? Does Facebook really plan not to enter the Chinese market?" Xia Jingxing said lightly, "I won't consider it in the next few years. A large blank market is waiting for us to occupy." Liu Jian asked: "That is to say, when these markets are occupied, Facebook will still enter the Chinese market?" Xia Jingxing said with a natural face: "I don't hide this from you. After the market outside China is occupied, it will definitely enter China, because this is the nature of capital. Even if I personally don’t want to, capital will push me to do so.” Xia Jingxing said so, the two were relieved. few. If Xia Jingxing expressed his position now, the Chinese market belongs to Youyoumi, and the market outside China belongs to Facebook, but the two of them would feel that they are not sincere and too fake. "In the future, Facebook will enter China, how to deal with the relationship with Youyoumi?" Liu Jian's question is very tricky, but it is also something that must be considered, otherwise the two will not be assured of accepting Facebook's investment. "Let's see the development!" Xia Jingxing started to flicker: "If Youyoumi is very successful in China and completely dominates the SNS market, we will evaluate the probability of success after Facebook comes in. With hundreds of millions of users, we estimate that after we come in, we won’t be able to beat you, and we may eventually have no choice but to give up the Chinese market. Or choose to merge the two of us! Let’s make the cake bigger and make it the world’s largest social networking site! If Youyoumi develops very well, you can also rush out of the Chinese market, and then you will merge with Facebook, and everyone will continue to work towards the same goal." Xia Jingxing's meaning is very clear. If Youyoumi develops very well, Facebook can’t beat you even if you come in, exit the Chinese market, or merge with you; If Youyoumi develops particularly well and expands to countries and regions outside China, you can merge Facebook in turn Book! Merger is actually an acquisition! It just sounds nicer, not so harsh. Who buys who depends on the size gap between Facebook and Youyoumi. "Haha, Jing Xing, you are being humble." Rao Lei never thought that Youyoumi would buy Facebook. After all, the current gap between the two is more than a hundred times. When he wanted to come, these were all Xia Jingxing's polite words. Liu Jian understood what Xia Jingxing meant, laughed and said, "I mean, if Youyoumi has a foothold in China and is listed independently, do you still need to merge with Facebook?" Xia Jingxing naturally understood , the other party is not very willing to accept this kind of merger. It’s normal to think about it, everyone wants to gain the right to speak and dominate the company, especially for people who started from scratch. Xia Jingxing waved his hand and said, "It's definitely not necessary. If you all go public independently, then there is no need to say much about your influence in China. Even if Facebook comes in, it should not be able to beat you. At that time, everyone will be guarding a piece of the market. The earth is big enough to accommodate the two listed social networking sites. In short, the merger is just a joke of mine, the two brothers don’t have to take it seriously, you are the real decision makers of Youyoumi.” Mr. Liu understood another level. Meaning, Xia Jingxing didn't have to swallow their company, so he asked again, "Will Facebook appoint a director to Youyoumi?" An agreement." Xia Jingxing said with a smile, "This is good for both of us, and even Youyoumi can exchange shares with Facebook and become partners. If Facebook does not develop well, I can also find two people. My brother is begging for food." Xia Jingxing's last sentence can also be understood in reverse: Youyoumi is not developing well, it can be acquired by Facebook, and the two brothers will not be left without a grain. It's just that this kind of thing is not suitable to say directly. Rao Lei and Liu Jian are smart people, so they naturally realized another meaning. Liu Jian thinks it's good to have Facebook behind you. If Youyoumi's development is not ideal, selling to Facebook might not be a bad choice. After all, starting a business is risky, and no one can guarantee success.

If you succeed, it is naturally the best. If you fail, you can exchange some money to make up for some losses. Rao Lei pointed at Xia Jingxing and joked with a smile: "Okay, Xia Jingxing, are you afraid that the two brothers will starve to death? But you said so, then Youyoumi will not develop well in the future, I have to ask you to take care of me. This is what you said yourself." Xia Jingxing was going down the steps for the other party and deliberately didn't make it clear. Now Rao Lei has made it clear by himself, of course there is no problem, but it will not cause any trouble for both parties. In just one meal, Xia Jingxing officially finalized the matter of investing in Youyoumi.