Rebirth: I Want to Surf

At the end of January, the atmosphere of the Spring Festival is getting stronger.

At noon, a commercial vehicle left Prince Gong's Mansion and drove onto Xizhimenwai Street.

"The one in front is the Beijing Exhibition Hall, jointly built by China and the Soviet Union. There is a Moscow restaurant in it, we call it Lao Mo. Authentic Russian borscht and creamy grilled fish, the waiter's black Bragi and a small white apron, just like Call it a fashion.

At that time, the most awesome thing for people in Beijing was to go to Lao Mo for a meal. Now many people miss it, and it often appears in film and television works, "Sunny Day", does Jiang Wen know? "

Yao Yuan sat in the car and explained to Milner, looking at the towering gilt spire of the exhibition hall, with a red five-star on the spire.

"I understand!"

Milner nodded and said, "You miss the red romance back then."

"Don't don't, that's the romance of the children in the big courtyard. It has nothing to do with us. I'm just a tour guide."

Milner didn't understand these words. Seeing that the car didn't turn in, but brushed past the side of the road, he wondered, "Aren't we going to eat inside?"

"You are Russian, I invite you to a Russian restaurant for dinner?"

Yao Yuan was even more amazing, and said: "Just passing by, let me introduce you, let's go to Xiyuan Hotel."

Xiyuan Hotel is not far away, just past the exhibition hall. When it was re-opened, a number of high-end hotels were built in the capital, Xiyuan Hotel is one of them, and it has a history of more than 20 years.

The Penglaichun restaurant I went to specializes in Cantonese cuisine.

Milner has been here for three days. On the first day, he visited the Forbidden City, and on the second day, he climbed the Great Wall. Half of the climb was unbearable for both of them, so he came down again. Today, he visited Beihai, Shichahai, and Prince Gong's Mansion.

Milner looked at a table of dishes and said with a smile: "Actually, I have been expecting you to take me to the small alley. I really want to see your special food."

"Forget it, local characteristics are characteristic, but not necessarily food."

There are only four people here, Yao Yuan and Cheng Wei, Milner and his assistant, the driver Xiao Mo are not eligible to sit on the table.

After drinking for three rounds, both the host and guest are happy. Milner's drinking capacity follows the old Maozi's tradition, as long as he can't die from drinking, he will drink to death, and he will go down after two bottles of liquor.

"Yao! Thank you for your hospitality, but we must talk about business. I can't stay here forever."

"Okay, then let me just talk about it."

Yao Yuan wiped his mouth and said: "The businesses I directly manage include community, social games, instant messaging, and end games.

I want to package community + social games for listing. Currently, I hold 62% of the shares, Softbank has 20%, several executives have 10%, and the option pool has 8%. When SoftBank invested, the valuation was $5 billion.

Now there are 200 million community users and 100 million monthly active users. Several social games are popular all over the world, with a revenue of 700 million last year.

Hugelive was launched at the end of last year, and has already covered the population of Hong Kong. The funding gap is at least US$100 million, which is used for daily operations, copyright purchases, and outward expansion.

Liu Qiangdong is responsible for the e-commerce side. If you are interested, the two of you can discuss it in detail. The headquarters of Meizu is in Zhuhai, and I can also arrange for you to visit it to see what you want..."

"..."

Milner tasted the product and knew that the other party's primary financing projects were community + social games and Hugelive.

He did his homework before coming, and he is also very optimistic about the community. This is the most likely one to go public. The problem is, just because the community is so successful, there will be a lot of money invested, but very little equity.

After thinking for a moment, Milner said, "I can invest 30 million U.S. dollars in Hugelive up front, and then follow up with the investment. The "Hugel Purge" has been a success, and I will keep my promise.

But community + game, how do you guarantee the value-added after listing?

I took a 2% stake in Facebook for US$200 million, which is extremely optimistic about Facebook's prospects. I believe its market value will reach tens of billions, or even hundreds of billions of dollars.

If your entire group goes public, I believe it will also achieve this result.

And you are just a community + game, if there is only a market value of more than 10 billion, then I have no need to invest. "

The implication is, for example, he is valued at 8 billion US dollars, invested 500 million, took 6.25% of the shares, and the market value reached more than 10 billion after listing.

Although I made money, I earned very little.

So he asked, is there any way to continue adding value?

"..."

Yao Yuan organized his language and said seriously: "The reason why social games are tied to the community, first, if there is no game, the community will lose money year after year, which is not conducive to listing.

Second, it is the question you mentioned.

I admit that the same type of products in China are far inferior to the United States, and I must also consider the issue of value-added, so games are my breakthrough. "

"You want to add value with social games?"

Milner thought for a while, and said: "Your social games are indeed very popular, but now that smartphones are developing rapidly, the games on the web may..."

He stopped suddenly and looked at each other.

Yao Yuan also stared at him.

After a few seconds, Milner suddenly said: "Are you planning the future mobile game industry?"

"In fact, we're already doing it."

Yao Yuan took out his Meizu mobile phone, Milner played "Happy Match" and "Angry Birds", and couldn't help getting more and more excited.

Now Apple and Android have not yet dominated the market, but anyone with a little brain can see that smartphones are the general trend.

Because of the popularization of 3G, mobile Internet access is getting faster and more convenient, regardless of the system and performance, it is certain that mobile Internet access is affirmative.

With the popularity of mobile Internet access, mobile games must be a blue ocean.

Yao Yuan's original idea was to use the community listing to make a last fortune, and then turn to Weibo. It’s not easy to see now. If you want to make a fortune, you have to raise the market value first.

How to pull it up? It depends on the game.

Then just keep doing it, just like NetEase, NetEase is a game now! game! game! Who remembers that it used to be the three major portals?

So Yao Yuan packaged community and social games, excluding client games, which he still controls.

…………

Milner has confirmed his investment intention, and the specific amount of investment will be discussed later. He is busy looking for Liu Qiangdong, and he wants to visit Zhuhai when he is done.

Obviously, he is interested in the community, the mall, and the mobile phone.

If it is spread out, the single investment will not be too much.

Yao Yuan contacted SoftBank and said that a new shareholder has entered the game, do you want to follow suit? Softbank immediately sent someone to negotiate, and he found Shen Nanpeng and Xu Xin, who also had the same intention.

It just so happened that Xiong Xiaoge also found DCM, an American investment institution.

Ever since, Milner, Softbank, Sequoia Capital, Capital Today, DCM, and Yao Yuan, a total of six companies, sat down to talk again.

The core topic is valuation!

The model of the community is basically the same as that of Facebook, and it also produces games by itself. It is hard to be forced because it is not an American product, otherwise it will fly to the sky early.

The table was sprayed with saliva, and finally an agreement was reached.

The community's valuation has finally reached $10 billion!

(besides……)