Reinventing the Millennium

Shencheng’s online account source is 73%, and Beijing’s online account source is 28%.

You have me I have you.

This is the settlement agreement reached between Guahao.com and Internet Medical.

With so much money burned in the subsidy war, it is impossible for Internet Healthcare to withdraw from the Shencheng market. Neither Chen Xing nor his investors will agree to lose all their money. However, for Guohao.com, it can obtain the approval of the Beijing business without hindrance. The barrier to entry is a big plus.

In this way, Guohao.com and Internet medical care have made peace.

As for the south, Medical Online has withdrawn from Yangcheng, and Guahao.com cannot find anyone to shake hands with. It can only consolidate its business with peace of mind and consider the next development scope.

Entering Beijing, winning over Yangcheng, and restricting competitors in Shanghai, it can be said that Guohao.com has won a great victory in the subsidy competition for online business, while the worst loser is Pengcheng Medical Online.

Internet medical care in Beijing can claim a small victory. After all, it is developing its business into another big city, but it is unclear whether it will shed tears over this subsidy war.

In short, after the two cities of Shanghai and Yangcheng announced the end of subsidies, everyone at Guahao.com was very happy and excited. The leading position of the online business was consolidated by everyone together, which makes people feel a sense of honor and A sense of belonging.

In order to commemorate this subsidy war, a marketing manager also hung a commemorative photo in his office. It showed a picture of employees queuing up one morning to receive money for reimbursement that day - some people frowned, some looked determined, and some even Some people have already received money and numbness. The most important thing is that the boss trotted in from the entrance with a smile on his face, which was very eye-catching.

Fang Zhuo saw this photo when he went to work the next day and felt two parts sad, three parts excited, five parts proud and ninety parts flattering.

Isn't it because you are the most energetic inside?

Of course, it was hard for him to say anything since everything was hung up.

Instead, he was asked to give a speech.

"Mr. Fang, please say a few words!"

"Mr. Fang, we win!"

"Mr. Fang, when will the bonuses be distributed?"

Fang Zhuo was enthusiastically stopped by his colleagues at work the day after it was clear that the subsidy competition was over. Most people here were happy from the bottom of their hearts, but a few people were not happy and were overwhelmed by the atmosphere.

"The bonus will be paid at the end of the month. Let me tell you this first."

Fang Zhuoxian exchanged a piece of conclusive news for a burst of cheers.

Then, he looked at the photos on the wall, and then looked at the people whose faces were completely different from those in the photos, and said sincerely: "Thank you everyone, this battle can be won only because of you."

There was a roar of applause in the office, and some people even had their hands red from the clapping.

Fang Zhuo pondered for a moment and then continued: "I have always said that the development of the Internet is a trend, and our registration website is the implementation of this trend. Now, both the choice of investors and the vigorous development of the website itself have proved this."

"We are at the forefront of the times. Whether it is the fierce competition with others before or the troughs that may occur in the future, I want everyone to believe this."

"The registration network is groping forward. We still have a lot of work to do. Let's keep up the good work."

"Of course, you can also be happy first and see what we gain from this victory."

What Fang Zhuo said at this moment was very contagious, but the people listening subconsciously ignored the "possible trough" part of the sentence and were thinking about "the gains from this victory."

If you win, there will be a reward.

Employees have bonuses, and the company naturally has to make income.

The second round of financing, which Fang Zhuo has always been talking about, was almost rushed.

Throughout the summer, Guahao.com and the two major competitors in the industry were inextricably locked up. During this period, Fang Zhuo had hinted at venture capital many times, openly or secretly, including Capital Today, IDG, Sequoia, Shenxin, etc...

But basically they are just vague attitudes. Only Sequoia said it would support the second round of financing when the situation became slightly clearer, but the valuation size also depends on the final market results.

Now, the results have come out, Guahao.com has a smooth road to Beijing, and Yangcheng has taken it under its wing. There is no better investment target than this.

All the venture capital investors that Fang Zhuo had contacted earlier called one after another.

"Brother, you are awesome. I have worked hard in the unit and Shen Xinde supports the next development of Guanhao.com."

"Mr. Fang, Sequoia and Guohao.com are old friends. They have come through the angel round and the first round. We can start studying the second round."

"Mr. Fang, we have been friends for a long time. We sincerely invite you to meet me."

As the saying goes, when you are poor in the streets, you have no one to ask, but when you are rich in the mountains, you have distant relatives.

Although the description is not entirely appropriate, it can somewhat explain the absurd and funny feeling in Fang Zhuo's heart.

Business is like that, you win...

There are also losses.

Fang Zhuo didn't lose his temper at all on the phone, and he didn't say anything sarcastic. He sincerely and seriously agreed to everyone's requests to join the team. At the same time, he also discussed the development plan.

In particular, Fang Zhuo, who has already invested in IDG, talked about the profitability verification of the online registration model.

According to the general investment process, this is almost the second round.

However, the registration network is holding on to the momentum of victory, and venture capital investors will not be strict about this. It is definitely good to have it, but you can see a bright future if you don't have it.

Fang Zhuo was pleased with this.

He handed over the second round of financing to Su Wei first. It was not easy for the boss to directly intervene in some of the important parts of the process. It would be best to have a director who is an executive to pass on the message.

At the same time, Fang Zhuo personally urged the decoration of Yike's five city direct-operated stores and the foundry of M1 machines.

The news in this regard is not as good as the registered website.

The foundry for the M1 machine was the well-known Foxconn, which has a factory in mainland China. Fang Zhuo also inquired about it and found that it had not received any orders for similar machines.

However, since it was the first time to make a music player, the start-up time was slightly later than expected, which was said to involve adjustments to the production line.

Fang Zhuo’s original National Day direct-operated store launch has now been postponed for one to two weeks.

In addition, he has to consider establishing channels other than direct-operated stores. It is difficult to spread the product too widely by relying solely on direct-operated stores, but it is easier to build a brand with such a system.

On September 24, Su Wei, who was instructed by her boss, gave a report. The amount of the second round of financing was discussed to be between 120-160 million, and 20% of the shares would still be released. In this case, the entrepreneurial team's shareholding would be reduced to 46.08%. .

However, Fang Zhuo has to decide what the exact price will be.

That night, Fang Zhuo received a few more calls, and the discussion was about everyone sitting down to finalize financing as soon as possible, but he said that he was busy with Yike recently, and the financing of Guohao.com could wait a little longer.

Then, Fang Zhuo changed hands and started looking for someone to post the news about his financing to the financial section of the portal website, not only the shareholding ratio, but also the amount of financing.

In addition, he also asked Penguin Ma to help spread the word to "pure passers-by". Pengcheng's medical online was recently trying to reach a cooperation with Penguin.

The next day, the venture capitalists kept in contact one after another.

On the third day, the industry suddenly had the latest news. Pengcheng Medical Online was considering launching a charging pilot to further attract investment to accelerate development.

On this day, the venture capital investors that Guohao.com had contacted became polarized. Some like Sequoia stopped urging, while smaller ones like Today's Capital wanted to finalize the deal as soon as possible.

"Mr. Fang, have you heard? Medical Online is going to verify the charging model." Xu Xin called Fang Zhuo in the middle of the night to talk about the importance of this news.

"Well, Mr. Xu, I just heard." Fang Zhuo was very calm.

Xu Xin said with a somewhat anxious tone: "Medical Online lost a battle in the subsidy war. Now it wants to try to charge ahead of you and overtake in corners. I think the registration network can also consider trying this step as soon as possible."

"If they want to try charging, just try it. I'm not in a hurry, and it's not like they can get listed before me." Fang Zhuo said easily, "Besides, I think everyone must be very interested in how this online registration business can work. If you can’t receive the fee, it’s just a good idea to let it come and verify it for us on the registration website.”

Xu Xin's tone immediately stopped pretending to be anxious: "Mr. Fang really thought it through very clearly. I was relieved of my worries after you nudged me like this."

"Actually, I am anxious too, but this kind of thing cannot be rushed. The higher the market share, the more cautious we have to act." Fang Zhuo said lightly, "What do you think, Mr. Xu?"

Xu Xin said yes, but secretly cursed the other party as an old fox.

The two chatted for a while before ending the call.

Just one day later, Beijing's Internet Medical also announced on its website that it would try to charge fees at the four best tertiary hospitals in Beijing. Each person would only need one yuan to register and pay the fee at the hospital.

Regardless of Internet medical care or online medical care, the two companies that imitate the registration network are already two positions behind. As a result, the subsidy war in the summer did not close the gap, but further.

Now that Guohao.com is about to conduct its second round of financing, the gap will be further widened.

Internet medical and medical online both consume a lot of capital and are under pressure from investors and cash flow.

The former is flirting with IDG and wants to use the verification fee model to obtain more first-round financing. The latter needs cash to support the next development, otherwise it is likely to die slowly after losing Yangcheng.

Therefore, the two companies announced the pilot of fee-based hospitals one after another, getting ahead of the industry leaders and finally no longer imitating it.

Guahao.com expressed silence on this.

On September 29, on the 23rd floor of Shanghai Hang Lung Office Building, many venture capital investors gathered at Guahao.com to participate in a seminar. This time, Fang Zhuo, the president of Guahao.com, was present.

"Everyone must have seen that our two main competitors in the industry have made trial charges one step ahead of us."

"Although users have some complaints, the cost of online registration is much lower than their traditional registration cost."

"This model currently seems to be more cyclical."

Fang Zhuo took the trouble to once again elaborate on the specific scenario application of online registration and the transformation of entrance traffic.

After a long talk, he raised a finger and said: "Let me tell you a number, the second round of financing, 160 million."

Previously, the number Su Wei communicated was between 120 and 160 million. The difference between this "between" and tens of millions is negotiable, but now that there have been charging pilots by similar companies, the price is easier to negotiate.

Fang Zhuo waved his hand, indicating that he should speak first: "160 million is just 20 million US dollars. As far as I know, Baidu, which has been developing well this year, received 10 million US dollars in the second round. I think the 20 million figure is very important to us." It’s not too high.”

“In addition, if there is a broad market prospect and smooth traffic conversion, I don’t think we should waste time on the second round.”

Fang Zhuo stood up, supported the conference table with both hands, leaned forward, and said in a seductive tone: "Our time should be spent on rapidly expanding the market, we should be spending our time carefully studying the charging pilot, and we should be thinking about it. Should I go to Hong Kong or go public in New York?"

"20 million US dollars, this is my decision. If everyone here disagrees, then we will bring in two more institutions."

Fang Zhuo expressed an unquestionable attitude.

There are a total of 8 investment institutions in the conference room today: Sequoia, IDG, Shenxin, Capital Today, Legend Investment, 3i Group, Shenzhen Venture Capital, and Dachen Venture Capital.

Some are Chinese and foreign, some are state-owned and some are private enterprises, some are large-scale and some are just established.

Fang Zhuo looked at the group of people and waved his hand, indicating that they could discuss.

Then, while the different agencies in the conference room communicated with each other, he placed the map markers he had sketched on the whiteboard.

When the venture capitalists saw that it represented the market coverage of Guohao.com, they could only compromise with a smile and quickly reach cooperation.

In just one day, eight venture capital firms unified their intention to cooperate and decided to participate in the second round of financing of Guohao.com in different proportions, absorbing 20% ​​of the shares released by it with an amount of 160 million.

Among them, the entrepreneurial team sold a certain amount of shares, and Fang Zhuo sold relatively little. Su Wei, Yu Hong, and Zhou Xin, who originally had a small share, sold most of the shares. The three of them only retained 2.52% of the shares in total.

That night, Fang Zhuo hosted a banquet and invited the senior executives of the investors. They toasted each other with glasses of wine, expressing his determination to develop the company well.

The eight investment institutions had different contract details. It took three days to review these contracts. Immediately afterwards, Fang Zhuo signed contracts one by one in the office, and asked each one to get the cash quickly to speed up the development of the company. Outlook Listed IPO.

On October 3, all contracts were signed, and eight investment institutions with different styles formed cooperative relationships with the registration network.

On this day, Guahao.com officially became a Chinese Internet company with a valuation of up to 800 million. It is unparalleled in its field and is expected to hit the market within the planned time.

Is it New York or going to Hong Kong?

This is already a question that needs to be thought about and is no longer far away.

Sequoia and IDG definitely want to go to the former, and they expressed their willingness when signing the contract with Fang Zhuo. Others feel that Hong Kong is more confident than New York in road shows and increasing market value, and they also expressed their willingness.

Fang Zhuo all responded patiently, saying that he would seriously consider this issue, but what is at hand is to make the work of the registration network more solid.

Since the end of the subsidy war, from September 19th to October 3rd, Guohao.com quickly finalized the second round of financing, reached cooperation with eight venture capital institutions, and obtained the biggest fruit after the competition.