My Age of Investment

Not long after Xia Jingxing's official home page was posted, it was highly recommended by Facebook.

Many users have seen this post on their feed pages, hamburger, coke, two chicken legs, and a text introduction.

Middle-aged and elderly people who don't pay attention to popular online quotations don't know what they mean, so they skip them directly.

But young people are different, and instantly understood the stalk.

Many people even clicked on Xia Jingxing's public homepage, there are many photos and videos in it, the account is still verified, and it is confirmed that it is the true deity.

Many people clicked the follow button, adding a fan count to Xia Jingxing's Facebook account.

Most Facebook users have only one personal homepage, which is equivalent to a circle of friends, and only by adding friends can they see each other.

The public homepage can be regarded as a WeChat official account, which has a certain opening threshold and belongs to one-way communication.

A few days ago, Facebook launched the public home page function, and invited a group of celebrities and stars to settle in. Xia Jingxing also took advantage of the opportunity to activate this function for his account.

Due to the lack of large-scale promotion before, he now has very few fans, only 30,000.

But after this news was posted, the number of fans displayed increased at a speed visible to the naked eye, and every time it was refreshed, thousands of fans were added.

Xia Jingxing looked at the puppy and asked, "You arranged it?"

Xiaogou laughed straight, "Anyway, this product has only been launched for a few days, and it is also helping some celebrities to promote it, which is convenient!

I just sent a text to Evans saying there was a new update on your account, he's the one who understands. "

Xia Jingxing didn't ask any more questions, although he could no longer meddle in Facebook's affairs, it's still okay for him to make recommendations.

He turned his eyes to the computer screen and flipped through the comments.

"Hahaha, it's really Darren! I thought someone was playing tricks!"

"Buffett wants to tell you that KFC is not as good as McDonald's."

"Do you really eat KFC? I feel like I'm putting on a show."

"Only posting one day is suspected of being a show, posting every day,

I just trust you. "

...

Comments vary, with some praising and others questioning.

Foul language, racist comments, etc. are also there, but very few.

Because Facebook is a real-name system, everyone must be responsible for their own words.

Xia Jingxing didn't pay attention to the small number of trolls, there is no way to completely eliminate them, it just needs to be automatically filtered in the brain.

After looking through the comments, Xia Jingxing also responded to a few friendly comments.

Then he turned off the computer and waited for the automatic follow up.

…………

…………

Sand Hill Road, translated as "Sand Hill Road" in Chinese, is located in the southeast of San Francisco, backed by the Pacific Coast Mountains, facing the San Francisco Bay, with a clean and beautiful environment, close to Silicon Valley and Stanford University.

This is the most prominent road in Silicon Valley and even in the United States. It gathers the most important venture capital institutions in the United States. Its significance to the technology start-up market is just like Wall Street to the securities market.

Zhang Chenguang drove the car in the front row, while Xia Jingxing sat in the back row and looked at the whole block.

The entire Sand Hill Road neighborhood can be regarded as a venture capital fund town, where Sequoia Capital, Kleiner Perkins, Axel and other venture capital institutions are all concentrated here.

In the earliest days, Stanford University faculty provided financial support to entrepreneurial students, which can be regarded as the prototype of Sand Hill Road Venture Capital.

In 1972, Kleiner Perkins, the first venture capital institution, settled down on Shaqiu Road.

In 1980, Apple went public successfully, attracting more venture capital to Silicon Valley.

Today, it has gathered one-third of the venture capital institutions in the United States.

The neighborhood is very ordinary, the houses on both sides of the road are very low, covered by lush trees and bushes.

Sand Hill Road is 17 miles away from Silicon Valley, and it takes about 20 minutes to drive from Silicon Valley.

The car stopped in front of a simple two-story building. Xia Jing got out of the car, looked at the leaf sign at the door, and walked in.

Moritz stood at the door and greeted Xia Jingxing with a smile.

"Daren, long time no see!"

Xia Jingxing shook hands with the other party, "Yes, we haven't seen each other for a long time."

For old man Mo, Xia Jingxing had a complicated impression.

Sequoia Capital wanted to invest in Facebook a long time ago, but they couldn't agree on the valuation, so they were preempted by Axel, who was more aggressive.

Seeing Facebook getting better and better, old man Mo regretted it and wanted to pay for the ticket again and again to get on the bus. The valuation quotes ranged from one billion US dollars, two billion US dollars, all the way to five billion US dollars.

Some time ago, when negotiating investment with Microsoft, Xia Jingxing contacted old man Mo, 10 billion US dollars, no counter-offer!

Then old man Mo really didn't counter-offer and just gave up.

Sequoia Capital is very well-known, and it sounds bluffing, but in fact it is just that.

VC institutions and PE institutions operate in two different models, and the investment targets are also far apart.

Facebook's valuation has swelled to 10 billion US dollars, which is no longer a size that Sequoia can afford.

Of course, more than ten years later, top VCs will easily invest 300 million to 500 million US dollars. Right now, they are not that big. Cool.

In fact, Sequoia Capital can also follow the investment, and won a share of Facebook for more than 100 million US dollars.

But Moritz didn't take the initiative to mention this, and Xia Jingxing didn't say anything, lest the old man feel that he was humiliating him.

In fact, old man Mo is really regretful now, and it's a loss to his grandma's house.

But business is business, and he didn't take it easy.

After exchanging a few pleasantries, he brought Xia Jingxing to his office.

After ordering the secretary to make a cup of coffee for Xia Jingxing, the old man sat down next to the sofa and said slowly, "Dai Lun, you have left Facebook now, do you intend to engage in investment business for a long time in the future?"

Xia Jingxing didn't know why the old man called him here today, so he didn't ask any further questions, took a sip of coffee, nodded and said, "Yes."

"I see that you have quite a large stall, and several types of funds are operating at the same time."

Moritz looked at Xia Jingxing with a smile.

"Haha, the money has to make it work, doesn't it?"

Moritz was silent for a moment, and then said: "I heard that you sold ten points of Facebook shares, are you planning to use the money for investment?"

This matter was done very low-key, but it couldn't be hidden from those who cared. Seeing that the old man knew about it, Xia Jingxing admitted, "Yes, part of it was injected into the fund."

Moritz nodded, and said again: "I know you are a good hand at running hedge funds, but VC doesn't seem to be doing anything?"

"I invested in a few companies, and I just voted for fun. I am a layman."

Moritz laughed dryly, "You are being modest, I heard that Skyp is already valued at several billion dollars, and eaby is very interested in this software with 20 million users."

Few people know that they have invested in Skype, and even the media news reports have missed this company.

Xia Jingxing looked at Moritz with vigilant eyes, what does this old man want to do? Investigate yourself?

Moritz smiled and waved his hands, "Daren, don't get me wrong, this information is not hard to find.

I also know that you have invested in the Chinese video website Tudou, the classified information website Ganji, and the elevator print advertising company Frame Media.

In addition, you also participated in the first round of financing of LinkedIn and Tesla in your own name. "

Xia Jingxing smiled and said, "Mr. Moritz, just say it straight, let's not play hide and seek."

Moritz said with a smile: "There is really no other meaning, I found that Darren, you seem to be born to do our job.

I took a brief look at the survey reports of the companies you invested in, and the evaluations are all good, and they are all promising. "

Xia Jingxing didn't speak, but quietly listened to him.

"To be a VC, business sense and judgment are very important, which require professional training and have been cultivated after watching countless cases.

Of course, you have been running Facebook for three years and have brought Facebook to a valuation of tens of billions of dollars. Naturally, you have your strengths.

After all, those who have been entrepreneurs know entrepreneurs best. "

Seeing that Xia Jingxing didn't answer, Moritz finally stopped being sloppy and talked about the main topic: "Sequoia Capital has been investigating the Chinese market for a long time, and we plan to establish a fund in China.

I invite you here today because I want to cooperate with you. "

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