Reinventing the Millennium

Hang Lung 23, reminiscing with old friends.

Xiong Xiaoge came to Shanghai this time not only to help handle the affairs of the China Entrepreneur Industrial Investment Foundation, but also to understand the listing progress of Yike.

As Yike hired Derek, the chief financial officer recommended by Goldman Sachs, the company's listing is no longer just a wish, but also requires substantive actions.

Yike's listing location was quickly determined, and Fang Zhuo decided to list it on NASDAQ in the United States without any hesitation. First, because overseas markets have better development, it is difficult for the mainland and Hong Kong to confirm Yike's music payment business; second, It is because it is convenient for Yike to benchmark the stock price of its competitor Apple.

When a company reaches this stage, it must describe what kind of company it is to securities firms, the secondary market, and shareholders.

Obviously, this is easier for Yike. It can directly benchmark Apple's business. This is a shortcut for the company's listing.

Although Apple is not just a music player business, it has received enthusiastic response from the stock market since it announced that the Ipod is compatible with Windows systems and has created a closed-loop music system.

Compared with the US$6 billion before the release of the Ipod, Apple's current market value has stabilized at US$20 billion.

$20 billion.

1600+ billion Chinese coins.

Such a market value gives Yike's institutional shareholders a wonderful space for imagination.

Not to mention matching half of the target, even if it matches 1/3, it will still be 6 billion US dollars.

No matter how bad it is, compared to a target of 1/5, the market value of 4 billion US dollars is still 2.5 Sina.

Market, market, meat, meat.

Xiong Xiaoge listened to Fang Zhuo talking about the listing today, and felt extremely emotional in his heart. He could finally see the return on investment.

However, Fang Zhuo finished roughly explaining the situation of the listing, and finally said it lightly.

"The company will raise money again before going public, this time from Goldman Sachs."

Xiong Xiaoge: "?"

So far, Yike has raised a total of four financings, including angel round start-up capital, PreA’s targeted follow-up investment for overseas development, Series A’s valuation soaring, and PreB’s introduction of Sony Music.

The first three financings were for financial needs, and the fourth was for the copyright of Sony Music.

Fang Zhuo made it clear in Yike's previous conference call that he would basically not consider the fifth round of financing because Yike has good cash flow and the sales of its products overseas are also very good.

Now, this sudden announcement that Goldman Sachs is taking a stake...

Xiong Xiaoge looked at the young president in confusion and said, "You have to sell your own son for this semiconductor?"

"Mr. Xiong, please pay attention to your words. Goldman Sachs is an internationally renowned investment institution. What do you mean by selling?" Fang Zhuo was very dissatisfied.

Xiong Xiaoge was silent for a while: "Allowing Goldman Sachs to invest in Series B will harm the interests of other shareholders."

"The benefits are huge. If we share a little bit, we can tolerate it for a while." Fang Zhuo said nonchalantly, "Other shareholders will understand. It is also a matter of mutual benefit. Yike can have more funds to carry out market operations. layout."

He continued: "If any shareholder is dissatisfied, just come and tell me. If it doesn't work, there is no problem in meeting the shareholders."

Anger was slowly building up in Xiong Xiaoge's heart.

Then, he poked himself and slowly endured it.

The reason why I endured it so quickly is that firstly, Yike was originally a company founded by Fang Zhuo. It cannot develop to this day without this founder, and it will also need him to continue to move forward in the future. Secondly, it is because of Yike's equity distribution.

Fang Zhuo's shareholding jointly and severally held by the option pool is 44.1% + 2.7% = 46.8%. Coupled with Shenxin Kechuang's concerted action agreement, he can do whatever he wants. It is just a matter of dissent at the shareholders' meeting. It's just humiliating yourself.

Xiong Xiaoge has long experienced Fang Zhuo's toughness in ordinary situations. Today, this person is informing rather than discussing.

He sighed and called him by his name: "Fang Zhuo, why don't you just stop telling me and make me feel good for a few days?"

"Don't be so greedy. You investors will die because of greed." Fang Zhuo said with a smile, "Yike is not short of funds, but with cash, we can do more. I think Yike's upside is more than Goldman Sachs thinks it’s more, and it may not make much money.”

Xiong Xiaoge frowned and said, "How did you discuss it with Goldman Sachs?"

He was suddenly stunned: "Wait a minute, you have a relationship and cooperation with Goldman Sachs in this area, and Zhang Hongli from Deutsche Bank has a tacit understanding with you, so when you are here today... did you also negotiate with Connor from DCM?"

Fang Zhuo said calmly: "No, Mr. Connor is a respectable investor. I'm afraid he is still a little hesitant about our project."

Xiong Xiaoge: "..."

There are six companies in total today. Five of these co-authors are from Fang Zhuo? ? ?

Is just one DCM the target? ? ?

Don't strictly check who is who, just tie the DCM and have their fingerprints printed!

"It's not what you think. Regardless of Goldman Sachs or Deutsche Bank, they still need to evaluate, but the tendency will be greater." Fang Zhuo comforted, "How could I just play with venture capital so casually? Above it."

Xiong Xiaoge looked at Fang Zhuo intently. For the first time, really, for the first time, he felt that Fang Zhuo's understanding in the industry was correct.

There are only wrong names, not wrong nicknames.

What is a VC hunter?

Xiong Xiaoge had only smiled at this nickname before, but this time he watched Fang Zhuo's operation and suddenly felt sad for DCM China's Connor.

Who knows what Fang Zhuo did to him before!

I don’t know the true face of Mount Lu, just because I am in this mountain!

I had dealt with Fang Zhuo head-on before, but today I saw from the side what kind of person this guy was!

Xiong Xiaoge murmured: "Fang Zhuo, you... are a bit too much. What on earth did you discuss with Goldman Sachs?"

"Goldman Sachs is worthy of being an international investment bank. They don't just focus on one business. In fact, we didn't discuss it in detail. Goldman Sachs believes that ice core procurement equipment has uncontrollable risks." Fang Zhuo said lightly. , "SMIC can purchase the most advanced equipment on the market, and the Bush administration is relaxing restrictions, but who can guarantee that ice cores will be available?"

"I can't beat my chest and say that ice core is a fab that can circumvent US policy restrictions."

"Goldman Sachs, they are willing to help reduce this procurement risk and make it as controllable as possible."

"Some things are difficult for us to do, but it may be easier for them to do it."

Xiong Xiaoge listened to Fang Zhuo's painstaking efforts and asked, somewhat at a loss for words: "What if Goldman Sachs regrets after Series B comes in? What if it doesn't help buy equipment?"

As soon as he asked, he knew he had made a fool of himself.

"Goldman Sachs will also be a shareholder of Bingxin. What good will it do to them if Bingxin cannot purchase equipment?" Fang Zhuo said, "If Goldman Sachs wants to invest, it will invest in two companies. If it doesn't, it will invest in none."

Xiong Xiaoge felt sulky when he heard these inner actions.

He turned his sullenness into ridicule: "Mr. Fang, what a venture capital hunter! Connor doesn't know your reputation!"

Fang Zhuo shook his head repeatedly: "No, no, he has heard of it, but he is very confident."

"I admire Connor's confidence very much. What makes a hunter not a hunter is to dispel rumors and bravely challenge."

Xiong Xiaoge was speechless.

"Let's go, Old Xiong. I'll treat you to a good meal tonight to catch the wind. By the way, you can do me a little favor." Fang Zhuo stood up and finished his work for the day.

"Bah, I won't help!" Xiong Xiaoge saw her colleagues in decline, and grew jealous.

"You help me build momentum in public opinion and let your IDG express investment interest. I want Bingxin's funds to be implemented before SMIC goes public." Fang Zhuo stated the request directly.

Xiong Xiaoge emphasized: "What I said is not to help."

"When you leave Shencheng, I will give you two more bottles of good wine, Moutai aged wine, which I treasure." Fang Zhuo thanked him in advance.

Xiong Xiaoge shook his head: "Ten bottles!"

"Are you asking for a bribe..." Fang Zhuo said with a smile, "No problem, it's easy to talk about."

Xiong Xiaoge took two steps and suddenly felt shocked: "Wait a minute, you are not optimistic about SMIC's listing performance?"

Otherwise, why must it be implemented before SMIC goes public!

"I don't know what SMIC's listing will look like. In order to avoid problems, of course we must implement it as soon as possible." Fang Zhuo said naturally.

"Twenty bottles." Xiong Xiaoge spit out three words and added ten more bottles of sealing fee.

"Okay, all my respect for Mr. Xiong is in the wine." Fang Zhuo followed his advice.

On the contrary, Xiong Xiaoge further verified his judgment in this joke. Fang Zhuo is really not optimistic about SMIC's listing performance.

He did not continue to expand on this issue, but began to think about SMIC's situation out of professional instinct.

"Oh, yes, you have other cooperation with Goldman Sachs. What about Deutsche Bank? How did you and Zhang Hongli negotiate?" Xiong Xiaoge thought of another thing.

"I told you, Zhang Hongli and I hit it off right away." Fang Zhuo said innocently, why is the truth always ignored?

Xiong Xiaoge asked: "How do you feel like old friends at first sight?"

"He said that he admired my operation on Sina, and we just hit it off." Fang Zhuo said briefly.

Xiong Xiaoge held it in for a few seconds and commented: "We have the same smell."

Fang Zhuo smiled and said nothing.

Xiong Xiaoge looked at his expression and suddenly realized that he had also been scolded.

Forget it, maybe this is just how VCs behave in front of hunters, they always fall behind.

My husband does not fight, so no one in the world can fight with him.

Xiong Xiaoge recited the Tao Te Ching silently, and his mind suddenly calmed down: "You have gone through so much trouble, painstaking effort, and careful consideration this time. Do you really want to do semiconductors? I always feel that if you have the energy to do other things, you will be more productive."

"What are results? People always have some challenges, and they always have to face the problem of looking forward many years later. At that time, I will definitely not regret looking forward." Fang Zhuo smiled, "The reason why I am so deliberate now is I want people who follow me to have no regrets."

Xiong Xiaoge nodded and asked, "I still regret your investment in that registration website. Can you refund my shares?"

Fang Zhuo also nodded and replied: "If the person who followed me regrets it, it must be his own problem."

Xiong Xiaoge was numb.

This kind of hemp can only be dissolved with good wine.

…

At the end of July, IDG China’s President Xiong Xiaoge accidentally revealed IDG’s recent investment projects at an industry conference, including consideration of a wafer foundry project.

The guests asked curiously, and Xiong Xiaoge simply chatted.

However, this conversation revealed the scale of the project.

A man of the hour in the Internet industry, Yi Ke and Sina President Fang Zhuo will invest tens of billions to build an advanced semiconductor production line!

In the past, whether they were recruiting people or inspecting cities, they were either limited to small industry circles, or both parties kept a low profile. Only the matter of Vice President Huahong made a little noise, but the friction between Fang Zhuo and Huahong was just a little bit over. Just calm down.

Xiong Xiaoge's revelation immediately caused public opinion to explode.

Semiconductor Industry?

Ten billion investment? !

What a big gesture!

Immediately afterwards there was a burst of doubts, why did Fang Zhuo enter this industry? It seems to be a far cry from his previous projects.

Moreover, where did Fang Zhuo get the money to invest?

This is a huge amount of money!

Interview requests from the media were sent to Yike one after another, but before the reporter could interview the person involved, Fang Zhuo had already been followed up by enthusiastic local governments.

What era is it now?

It’s an era when everything is focused on GDP!

This tens of billions of investment, no matter how it came from, just use the name of the richest man in Shanghai to contact and invite him!

Different from the media's reaction, Fang Zhuo almost received inspection invitations from all provincial capitals.

Of course, several provincial capitals that are too remote, such as Sunshine City and Urumqi, remain indifferent to this.

As for the local government, if nothing else, finding contact information and intermediaries is no problem at all. Fang Zhuo's mobile phone receives calls from unknown numbers every day. In addition to revealing his identity, the other party can also reveal his acquaintance.

Whether shareholders, executives, or even your own parents can act as intermediaries.

When Fang Zhuo got home one night, he heard his father hold his breath for a long time and talk about something - "Our hometown is actually from the Northeast. Your grandfather came to An's home in Anhui Province at that time, and he has been in Anhui Province ever since."

Fang Zhuo estimated that if he continued like this, he would be able to find the ancestral graves in his hometown.

When it comes to the DGP, it's a bit over-the-top.

However, what is the power of tens of billions of investments?

Even if you create something, you can create all the ancestral graves.

Fang Zhuo estimated the enthusiasm of different cities, but he did not fully estimate the extent of everyone's enthusiasm. Moreover, due to administrative factors, he was a bit overwhelmed to deal with it.

However, he took advantage of the trend and identified several cities for the second round of city inspections, such as Chengdu, Chang'an, Haikou, and Tianmen.

This time, Fang Zhuo will not join the group in person, he only needs to see the final negotiated terms.

Just like SMIC, it not only puts its production lines in Shanghai, but also has factories in other cities, making full use of local government funds and policy support. This is worth learning from Fang Zhuo.

Even if you don’t get selected this time, there is still another time. If everyone keeps in touch and communicates, there will always be a chance to make a fortune together.

The second round of city inspections was much more exciting than the first round, but this made Luzhou feel uneasy.

The person in charge of investment negotiations from Luzhou SDIC has been on a business trip to Shanghai for more than a week. He attended two meetings, but no substantial investment was reached. Seeing that the "Ice Drink Plan" has launched another city inspection...

Don't ruin your own home by inspecting it!

Just like when Luzhou heard the news about the Lin'an project, it turned around and attracted the project team with sincerity and action. I wonder if other cities will do the same thing this time!

Fang Zhuo was sitting in Yike and received a call from Wang Shushan, the leader of Anhui Province. The other party greeted him cordially during the call. By the way, he mentioned one thing. The attacking University of Science and Technology of China was trying to promote the establishment of the School of Microelectronics, so as to allow Hu Zhengming, who was doing academic exchanges, to There is a better space for communication.

this is a good news.

Fang Zhuo understands.

He immediately said that he would go to Luzhou again soon, this time going straight to the University of Science and Technology of China.