Reborn 2005: The Internet Myth

After leaving the R&D center, I met Gong Yu head-on.

Gong Yu smiled and said: "I met you when I was looking for young men. Come with me to Pudong to see the new office. If it suits you, we will make a decision."

There is no problem with this.

With the new office, he can also go to the company to work, instead of staying at home every day.

Gong Yu’s goal is Yangtze Hi-Tech.

This park has convenient transportation, was completed recently, and focuses on the high-tech and software industries. It is very friendly to "large" Internet companies like Huoyun and provides many preferential policies.

Gong Yu took Wang Zheng and Zhou Ruoyun into a building called Xinke Building. This building was completed not long ago, and there were not too many companies settled in it.

After visiting around, Wang Zheng was very satisfied with the place.

"I plan to directly take over the fourth floor, with a total of 8,000 square meters of office area."

Gong Yu said as he walked: "The top floor is the group headquarters, the 32nd floor is dedicated to the R&D center, the lower two floors are allocated to business subsidiaries, and the customer service center remains in Jinbo Building."

Wang Zheng thought for a while and asked: "Can we get five floors? The R&D center needs two floors."

"I'll coordinate." Gong Yu gave an affirmative answer, but he also admired Wang Zheng's determination to invest in research and development.

The R&D center does not yet have many people, so it has directly reserved a working area of ​​4,000 square meters. The human resources department will have to cut off a lot of hair to fill the space with people.

After sending Gong Yu back to Jinbo Building, Wang Zheng was about to return to Jiujiantang. He wanted to finish the work of Cangjie compiler as soon as possible.

He was quiet for a while, but Lei Jun was going crazy.

When inviting a big shot in the industry to join, he revealed something about Huoyun’s desire to open the financing window.

As we all know, the Internet has no secrets.

Therefore, Lei Jun’s phone was inundated with calls, and domestic investment institutions took turns bombing him, all of whom expressed their sincerity.

Even though Lei Jun repeatedly emphasized that Huoyun's parent company does not accept financing, only 365 Navigation has opened the window.

Investment institutions are still very active, which is more beneficial to them - Huoyun Group is famous for only two businesses, Huorong Security and 365 Navigation. Other businesses are still in their infancy or planning stage.

From the perspective of investment institutions, 365 Navigation is an extremely high-quality S-class product. After stripping away the free burden of Huorong Security, it has more investment value.

With 365 Navigation’s market share and profitability, there is no problem in achieving an IPO quickly.

Lei Jun has been working in the Internet industry for many years and is certainly familiar with investment institutions.

After constant communication, he finally made an appointment with only three people, Xiong Xiaoge from IDG, Xu Mingyin from Goldman Sachs, and Zhang Lei, who just established Hillhouse Capital last year.

IDG and Goldman Sachs are both Midland investment banks. They have invested in many Internet companies in China and have complicated relationships in various industries at home and abroad. The introduction of their funds will be of great help to the company's future listing.

Hillhouse Capital was founded by Zhang Lei when he returned to China in 2005, and the funds came from the own foundation of Yale University where he studied.

The reason why Zhang Lei was able to impress Lei Jun was that he insisted on long-term holding and did not need to vote.

Lei Jun admired his investment philosophy, so he decided to let him come in during the first round of financing to balance IDG and Goldman Sachs.

On Thursday morning, the investment team had entered the conference room of 365 Network Company and began to do due diligence.

Lei Jun invited several people in charge to the president's office upstairs.

Due diligence is a necessary step and a means to determine the value of the company.

But the final decision was made only by the big boss.

Except for Xu Mingyin from Goldman Sachs, who is from Hong Kong Island, the four of them are all from Daxia, so the conversation was relatively relaxed.

"Everyone knows the user scale, market share, and profit model of 365 Navigation." Lei Jun's implication is that you all have to be a bit confident in your calculations, so don't think about taking advantage.

Xiong Xiaoge smiled and said: "Of course I know, it's the first of its kind in the world. Those who don't know about it probably won't be able to sit here."

He gave Goldman Sachs and Hillhouse a hand.

Xu Mingyin nodded: "Since we are here, we will make a decision today."

Zhang Lei also directly stated: "We at Hillhouse fully trust Mr. Lei's management and judgment."

Zhang Lei raised Lei Jun's hand again. Lei Jun stood up with a smile and took a document from his desk. He raised it and put it down and said: "This is the Microsoft certification certificate of "Huo Rong Security", VB100, CEST and other security experiments. The certification certificate of the laboratory and the plan for the overseas operation of "Huo Rong Safety"."

The eyes of the three investment giants lit up and they became even more enthusiastic.

"Huo Rong Safety" goes abroad, which means that 365 Navigation will also go abroad.

There is no doubt that the market for "Huo Rong Safety" will be the market for 365 Navigation.

Xu Mingyin put down her tea cup, and the tabletop made a crisp sound, and said: "Mr. Lei, we have talked on the phone for two rounds. How about Mingpai? We at Goldman Sachs will definitely follow."

Xiong Xiaoge and Zhang Lei are not to be outdone. The goodwill they show now will determine the size of their share.

Lei Jun is still very patient: "The current structure of 365 Network Company is that 75% of the parent company Huoyun Group, 20% of the option pool and 5% of the management shares are held by Huoyun Group on behalf of the company."

"We will only release 10% of the A round. This part of the equity is transferred by Huoyun Group, so the funds are freely allocated by Huoyun Group. 365 will add two strategic shareholder seats, and investment institutions entering the market will have priority in the next round. right."

10%, this share is really not that much.

The three of them looked at each other and saw that there were only two strategic shareholder seats, which meant that either one company would be eliminated or one company would not have voting rights.

No one who can sit here wants to be out.

Xiong Xiaoge spoke first and asked a little tentatively: "With 365's international expansion plan, isn't 10% a bit small?"

Lei Jun shook his head and said: "It is not easy for domestic websites to go global. We must leave enough shares to deal with the sequelae of expansion."

The three investors understand clearly. The communication between Daxia Internet and the outside world is almost zero.

As a tool website, 365 Navigation only has such an opportunity, otherwise it would not even be qualified to operate abroad.

Even so, because of the "user registration" and "comment" functions, if you want to operate in the American League and other markets, you must sell a certain amount of shares to avoid the siege of Western capital.

Xu Mingyin agreed with this. Anyway, Goldman Sachs will definitely get the strategic shareholder seat and have priority. When the time comes, it will be handed over to Midland for follow-up.

Thinking of this, Xu Mingyin nodded and said: "Goldman Sachs will provide 365 with sufficient resources and help."

Xiong Xiaoge and Zhang Lei also immediately stated that they would provide help including but not limited to talents, funds and administrative resources around the world.

Goldman Sachs and IDG are both behemoths abroad, with extremely rich resources from all walks of life. Even though Hillhouse has just been established, its sources of funds are well established.

Once the conditions are agreed upon, all that remains is the price.

Lei Jun leaned on the sofa, looked around, and said with a smile: "Can you please give us an estimate?"

Xu Mingyin didn't even hesitate and blurted out: "350 million US dollars!"

Xiong Xiaoge sneered: "Four hundred million! Cast your vote!"