My Age of Investment

After a few days.

Beijing, 36th Floor, China Merchants Building.

In the conference room, Zhou Hongyi's chest slapped loudly.

"Don't listen to the gossip in the market. My old Zhou guarantees with my many years of character that Mr. Xia and Vision Capital are definitely the conscience of the venture capital industry."

Immediately, Zhou Hongyi snorted coldly, looking filled with righteous indignation.

"Don't look at those people who talk about benevolence, righteousness and morality. Opening and shutting up is to achieve mutual success with entrepreneurs and help entrepreneurs realize their dreams. In fact, they really don't spit out their bones when they eat people.

Take Qihoo as an example, they forced me to sign a VAM agreement, and I f**k turned the table right away.

Mr. Xia, trust me, Lao Zhou, and don’t ask me to sign a VAM agreement. My Lao Zhou will do my best to repay the shareholders who are so optimistic about and trust me. This is a truly trustworthy partner and a real mutual achievement.

VAM agreement, what is that, it is not called equity investment, it is called loan.

If you fail to achieve the expected goal of starting a business, you will be asked to pay back the debt; if the goal is reached, it will be time to share the cake, saying that they are equity investments. Isn't this a hooligan? Capital hooligans! "

Two round-faced young men in their thirties stared intently at the spitting Zhou Hongyi, listening to their angel investor, a famous rogue software developer complaining about capital hooligans.

It is so magical, for the sake of profit, hooligans can also spray each other.

Xia Jingxing watched this scene from the side, smiled and said nothing, thinking carefully in his heart.

Zhang Fan’s fierce remarks at the Zero2IPO Annual Conference were reprinted by many media, and many entrepreneurs and investors present heard it.

After a few days of dissemination and fermentation, basically everyone in the investment circle knew about it, and it should have spread almost everywhere in the entrepreneurial circle.

The two people who are listening to Zhou Hongyi’s complaints are Zhou Zhaolong, the founder of Xunlei, who wears glasses, and Xie Zhenyu, the founder of Kugou, who does not wear glasses.

A few days ago, Zhou Hongyi notified the two of them that Envision Capital was interested in investing in the two companies.

Both of them had promised well on the phone that they would come to the capital after finishing their work.

result,

There was no more audio after that.

Zhou Hongyi made a special phone call to ask, only to find out that the two had concerns.

Anyway, Zhou Hongyi persuaded the two to come to the capital.

At this time, Zhou Hongyi made a long speech, on the one hand, to dispel the doubts of the two of them, and on the other hand, to sell it to Xia Jingxing, so that he would not mind it.

It's not likely that the two companies will talk too much at the moment. As an angel investor, Zhou Hongyi naturally hopes to introduce more powerful capital to the two companies.

As for Vision Capital, in Zhou Hongyi's mind, he had a good impression, and belonged to the very powerful category.

Moreover, Zhou Hongyi knew that Vision Capital was not the so-called "Predator Fund" at all, it was pure slander, Sequoia and the others were.

"The situation is like this. The capital market often kills without blood."

Zhou Hongyi looked at the two of them with a smile, "In short, you two won't suffer a loss if you choose Vision Capital."

Then he looked at Xia Jingxing, "Am I right, Mr. Xia?"

Xia Jingxing chuckled, "When Qihu was negotiating with us, Lao Zhou also approached Sequoia and CDH.

But why Lao Zhou rejected them and chose us? You two can think about the reasons.

Lao Zhou is a very smart person, will he make the wrong choice? "

Xie Zhenyu thought about it carefully, his own angel investor Zhou Hongyi was such a thug, it was indeed impossible for him to make a loss-making business.

So he smiled and said, "I understand now. I misunderstood Mr. Xia and Vision Capital because of this. I'm really sorry. I apologize to you."

Zhou Zhaolong also nodded, "Yes, there are too many fake news, it's harmful."

Xia Jingxing waved his hand, "It's okay, there is a misunderstanding, just make it clear."

Seeing this scene, Zhou Hongyi finally showed a satisfied smile.

"Then Mr. Xia, let's get down to business."

Zhou Hongyi didn't want to procrastinate any longer, and felt rather impatient.

Xia Jingxing said "OK" and called Fu Jixun who was working outside together.

After everyone arrived, Xie Zhenyu began to introduce his entrepreneurial history and Kugou Company.

"I started my business in 2000. After graduating from the Computer Department of Sun Yat-Sen University, I have been doing technology development in China Merchants Bank. The earliest embryonic form of Kugou came out - Soubao.com..."

The corner of Xia Jingxing's mouth twitched when he heard this, he got this name, he is talented!

However, because Soubao.com is engaged in searching, playing, downloading, and sharing music resources, it also fits the name.

He heard from Xie Zhenyu that because of its early establishment, Souzao.com quickly became the top ten websites with the highest traffic in China and gained a large number of users.

Then, the big tree attracted the wind, and was targeted by the giant!

Xie Zhenyu smiled wryly, "I don't know if it's because the traffic is too greedy, and Baidu also took a fancy to the cake of the music market, so they came to me to talk about mergers and acquisitions.

Because the bid was too low, I directly rejected them, so Baidu created an MP3 channel, which took a lot of our traffic. "

Xia Jingxing nodded, "So in 2003, you started to transform into the music search client and downstream market, and launched a comprehensive music service platform that integrates search, playback, and management of your own local songs - Kugou."

Xie Zhenyu admitted, "Yes, Baidu is a big company after all, sitting on a traffic gold mine, we can't beat them, so we can only think of other ways.

Of course, Kugou didn't disappoint us either.

It only took half a year to go online, and it reached a good result of 100,000 users online at the same time.

Since then, Kugou’s users have grown faster and faster. Up to now, Kugou’s registered users have exceeded 10 million. "

Xia Jingxing smiled, 10 million users sounds bluffing, but in fact it cannot support the valuation at all.

Without him, no money.

"What are your current profit methods?"

As if he knew that investors would ask this question, Xie Zhenyu was prepared and quickly replied: "At present, besides advertising, the main profit method is to provide users with ringtone download services during trial listening."

Xia Jingxing suddenly realized that he usually didn't pay much attention to it. These days, everyone likes to get ringtones on their mobile phones. When they receive a call, the music will play. Everywhere they go, they will be the focus of the crowd. It is high-end and classy.

“At present, in addition to Baidu MP3, Penguin also launched QQ Music at the beginning of the year, oh, there is also Qianqianjingting which was launched at the same time as you, and there are also a lot of music trial websites such as Haoting and Yiting.

Facing so many competitors, what is Kugou's moat? "

Xie Zhenyu thought for a while, and replied: "Technology and innovation! For example, we have a lyrics karaoke playback. Compared with similar products that "sync lyrics sentence by sentence", our Kugou synchronous playback has achieved "play word by word". Comparable to karaoke."

After all, Xie Zhenyu also asked Xia Jingxing to find an employee to send a laptop, and compared Kugou with other competing products on the spot.

Xia Jingxing took a closer look, and it wasn't really that great, but if these subtle points were done well, the user experience would improve immediately.

Zhou Hongyi came out to help, "Zhenyu's technical strength is very strong, Mr. Xia, let me tell you a story.

In the cold winter of the Internet in 2001, Soubao.com couldn't get enough funds, and its funds became very tight, and it couldn't afford servers.

In order to support more online users without increasing server costs, the background of Souzao.com has been optimized five or six times before and after Zhenyu. With only one server, it has completed the feat of supporting millions of daily user visits around the world. "

After Xia Jingxing listened to it, he was in awe. He was born in technology and knew that it was very difficult.

At the beginning of the new century, there are many successful examples of this kind of technology geek entrepreneurship.

Because the Internet was still in its infancy at that time, a small website could be built by one person or a few people little by little.

After more than ten years, the subdivisions of the Internet are crowded with people, and it will be difficult and almost impossible to start a business alone.

After hearing this, Xia Jingxing already had a very clear understanding of Kugou's situation.

At present, apart from Kuwo, which has just launched, there are only three rivals that can compete with Kugou: Baidu, QQ, and Qianqianjingting.

Qianqian Jingting is already in contact with Baidu to discuss the matter of mergers and acquisitions, Xia Jingxing does not plan to intervene.

Kuwo Music just launched this month, and he has already arranged for Tong Shijie to come to discuss financing.

Now as long as Kugou is taken down again, Penguin Music Group TME will control two-thirds.

Of course, the core issue in the future is copyright.

However, it is still too early to talk about copyright, and the music payment market is not yet mature.

Baidu is still in a lawsuit with the four major record companies at the moment, and because of the pressure from the copyright owner, NetEase has shut down the NetEase MP3 music business that has become tasteless.

Only Baidu is still fighting hard, because MP3 search has contributed too much traffic to Baidu, and it cannot be let go.

"Old Fu, take Mr. Xie to the next door to discuss a specific financing plan!"

Xia Jingxing glanced at Fu Jixun and ordered.

Fu Jixun said hello, and then took Xie Zhenyu to the next office.

Zhou Hongyi was afraid that Xie Zhenyu, who had a technical background and an honest man, would be at a disadvantage, and wanted to follow, but Xia Jingxing hugged his shoulders and pressed him tightly on the seat.

He laughed and joked, "Old Zhou, Mr. Xie is no longer a child. Why are you following me? Sit down and chat for a while."

Zhou Hongyi glanced at Xia Jingxing, he knew that this capitalist had no good intentions again.

Last time that silly boy Dai Zhikang promised too readily, he had already suffered a big loss. He was worried that Xie Zhenyu would repeat the same mistakes.

Xia Jingxing directly saw through Zhou Hongyi's careful thinking, and the red-clothed cannon belonged to the kind of person who couldn't afford to suffer a little bit.

"Old Zhou, what if you go over here?" Xia Jingxing glanced at Zhou Zhaolong, "What if I discuss the financing plan with Mr. Zhou? Are you running at both ends?"

Zhou Hongyi thought about it carefully, and indeed he had no other skills, so he could only choose Gu Yitou. He felt a bit calculated.

"Okay, old Zhou, didn't you just praise me for my generosity and pride?" Xia Jingxing patted Zhou Hongyi's shoulder, "Don't worry, I won't suffer."

Zhou Hongyi sighed inwardly, he could see Xia Jingxing's true colors now, he was even more rascal than him.

After comforting Zhou Hongyi, Xia Jingxing looked up at Zhou Zhaolong, smiled and said, "Mr. Zhou has kept you waiting, let's start too!"

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