My Age of Investment

the next day.

Eberhard and Tarpenning quickly summoned all Tesla shareholders.

In the conference room, the two announced two things in public.

The first thing is that the research and development of the gearbox has encountered difficulties, and the delivery plan has been delayed indefinitely!

The second thing is that there is an urgent need to start the D round of financing, and the company has no money in its account!

This is equivalent to dropping two blockbuster bombs on a calm lake, which shocked all shareholders.

Especially the first thing, the research and development of the gearbox really shocked the shareholders.

No one who can sit in the conference room is an ignorant person. They all know the difficulty of developing a gearbox, and they don't quite believe that Tesla can succeed. People with small arms and legs still want to develop a gearbox? Didn't wake up?

However, after all, they are all shareholders, and no one jumped out to ridicule them, they just gave a few words of persuasion very tactfully.

When Eberhard asked for opinions on the D round of financing, all shareholders, including Bezos Venture Capital, Waterfall Investment, and DFJ, all of them remained silent.

Some looked down at documents, some looked at the ceiling, some played with their nails...

Xia Jingxing didn't say anything either.

It's not a good deal to catch up. What's more, all his shareholding platforms add up, and he holds a total of 49.21% of Tesla's shares. If the stake increases, he will control Tesla.

He doesn't mind this matter, but it doesn't mean that the two original founders, Eberhard and Tarpenning, don't mind.

So he can't be too positive about this matter, just let it be.

After looking around for a long time, none of the shareholders expressed their willingness to participate in the D round of financing, and Eberhard and Tarpenning's hearts were half chilled.

The two looked at each other, and Tarpenning said: "Then let's talk about this today, the D round of financing will look for new investors from outside."

"Okay, the compass has no comment!"

"SDL has no objections either!"

"Value Equity Capital agrees!"

...

All shareholders, without exception, voted in favor and began to reassess Tesla's value and probability of success.

Eberhard and Tarpenning ended the meeting very disappointed.

Xia Jingxing was about to leave when he was suddenly stopped by Antonio, a partner of Value Equity Capital.

"Daren, let's talk together!"

Xia Jingxing turned around and saw that Draper, Larson and other shareholder representatives were standing beside Antonio, and all of them looked at him, the major shareholder, with smiles.

He instantly understood that these people wanted to chat with him in private.

Without thinking too much, Xia Jingxing readily agreed.

A group of people drove to an elegant cafe not far from Tesla.

After taking their seats, Antonio went straight to the topic: "Daren, what do you think of Tesla's Series D financing?"

Hearing this, everyone else turned their attention to Xia Jingxing, wanting to hear the opinion of this major shareholder.

Xia Jingxing gently stirred the coffee in the cup with a silver spoon, and said slowly, "Do your best and obey the destiny!"

Antonio smiled, he was not very satisfied with the answer.

Other shareholders invested only hundreds of thousands or millions of dollars in Tesla. Only their value equity capital invested in two consecutive rounds, with a total investment of nearly 20 million US dollars.

Apart from Xia Jingxing, they are the ones who invest the most, so it is impossible for them to completely ignore Tesla.

"Daron, with Tesla's current state, if it goes outside to raise funds, it may be rejected, or the valuation will be cut in half."

Antonio stared at Xia Jingxing, "If such a situation really happens, shall we completely ignore it?"

Xia Jingxing glanced at Antonio and the other shareholders. Others responded flatly, but Antonio had a solemn face, showing the most importance.

"I have already invested 30 million US dollars, and I have drawn a stop loss line for myself in my heart."

Antonio frowned, "Daren, this is not your style, if you back down halfway, all 30 million US dollars will be in vain.

I suggest that if Tesla's financing is really not smooth,

A few of our old shareholders got together to add a round of funds to Tesla.

This is not only an opportunity for Tesla, but also an opportunity for us! "

Draper's eyes flickered, "Yes, I have encountered such things in my decades of investment career. The key is persistence. It would be a pity to give up now."

Larson spread his hands, "We have no objection. It's not a big problem to invest a few million dollars in the waterfall. You can negotiate."

Shareholders have expressed their views one after another, and they are completely different from their performance in Tesla just now.

Xia Jingxing felt bad in his heart, he had calculated thousands of times, and missed these investors.

Especially Antonio, whose company has invested nearly 20 million U.S. dollars, it is impossible to ignore Tesla.

There are two ways in front of him at the moment, either to invest in Tesla with a group of investors; or to wear down the patience of the investors, and finally to buy the bottom by himself.

The second option is a waste of time and money, but it is the most cost-effective option for him.

But he also wants to deliver the car earlier, so that Tesla's development can really go on the fast track, and start to launch the first mass-produced model and the second mass-produced model that Tesla independently designed in a true sense... …

"Daren, everyone has expressed their opinions, and it is up to you. Do you want to save Tesla? You can express your opinion!"

Antonio saw Xia Jingxing's hesitation, and felt a little anxious, and his tone of voice became a little more serious.

"Tesla needs to raise at least US$50 million. This is not a small amount. How about sharing it equally?"

Xia Jingxing made a move to retreat, and the other shareholders really fell for the trick, and immediately retreated.

In particular, SDL and Compass, two small venture capital institutions, each invested $600,000 in the A round, and the sunk cost is not too large.

Now that Tesla is in a dangerous situation, it is not a good plan for them to each invest nearly 10 million US dollars in rescue.

Bezos Ventures, Waterfall Ventures, and DFJ each followed up with more than US$2 million in the C round, which is just a small amount for them.

The three of them did not express their views, and watched from the sidelines.

Antonio did not argue with Xia Jingxing, and after thinking for a while, he said: "The management team can make concessions on the valuation. If Tesla succeeds in the future, the return on this investment will be quite generous."

Before Xia Jingxing could speak, the representative of SDL took the lead and said, "But what if it fails? All investments will be in vain. The risk is too great."

"Yes, let's think about it in the long run! Anyway, Tesla has not officially started the D round of financing, and maybe we can find an institution willing to invest."

The representative of Compass said on the side, his words were very high-sounding, but in fact he was politely refusing.

Antonio pinched the center of his brows, feeling that he was surrounded by pig teammates, and he couldn't move him.

The representative of SDL suddenly said: "Hey! Darren, I remember that when you signed the A-round investment agreement, you seem to have signed a promise to invest a minimum of 84 million US dollars in Tesla within five years?"

The representative of the compass patted his forehead, "Yes, I remembered it too, there is such a thing."

Xia Jingxing didn't say a word, and the atmosphere instantly became awkward.

Antonio smiled and said: "There is such a thing!

Then Darren, as the youngest rich man in the world who is worth billions of dollars and is ranked in the top 100 by Forbes, you can't do nothing!

Now that the agreement is signed, it is legally binding. Darren, what do you say? Hahaha! "

Antonio's smile showed a bit of complacency and joking, he thought he had caught Xia Jingxing's braid, and by this he could solve Tesla's current problems.

When he suggested that everyone solve the Tesla problem together, Xia Jingxing didn't appreciate it.

Well now, take it on yourself!

He felt that Xia Jingxing had shot himself in the foot this time, and he deserved it!

Xia Jingxing's expression turned ugly, "Tesla's attempt to build a gearbox is almost impossible to succeed. If you don't believe me, can we invite industry experts to consult?"

Antonio heard the meaning of prevarication in Xia Jing's jargon, and said firmly: "No matter what, Tesla must survive."

"Yes, Darren, as a major shareholder, you have to show your responsibility!" The representative of SDL cheered.

"For Darren, tens of millions of dollars is just an inconspicuous little figure, but for Tesla, it is the continuation of the dream!" The representative of Compass was very good at talking, and he farted wildly on the side.

Larson and representatives of Bezos Venture Capital remained silent. They had a good relationship with Xia Jingxing, so it was not easy to add insult to injury.

Draper didn't have so many scruples, and said with a smile: "Daren, it is definitely the greatest luck for Tesla to meet a shareholder like you. If Tesla succeeds in the future, you will definitely have half of the military medal. "

Xia Jingxing's expression kept changing, showing that his acting skills were not inferior to those of a movie king.

After a long while, he said quietly: "I didn't say I don't care. If Tesla encounters a problem, I will take action."

"Okay, refreshing!" Antonio gave Xia Jingxing a thumbs up.

The others followed suit, praising Xia Jingxing in various ways.

After a while, everyone began to leave one after another.

Larson was the last to leave. Before he left, he patted Xia Jingxing on the shoulder, "Daren, if you feel that funds are tight, you can talk to Mr. Gates. Waterfall Investment can support part of you."

"Okay, I will contact Mr. Gates if necessary."

Larson nodded and left.

Everyone left, and only Xia Jingxing was left alone.

He picked up the coffee on the table, raised his legs, and slowly savored his acting skills.

The promise just now was too straightforward, and I should stick to it a little longer. It is best to quarrel with Antonio, so that it will appear realistic.

Hey, that's all, I'm still a person of status, so it's not a big deal to show a grandeur.