Return to Singapore 1995

Soon, Li Xiaofan met Bao Yueqiao, a fellow from Mingzhou.

The two hit it off immediately.

Bao Yueqiao's hometown is in Yuyao, under the Siming Mountains in Mingzhou City. Yuyao has produced celebrities such as Wang Yangming and Huang Lizhou, and is also the hometown of Yu Qiuyu. The Feng Shui there is very good.

Lao Bao graduated from the Department of Mathematics of Hangzhou University in 1989, majoring in computational mathematics. He became obsessed with playing Go in his first and second years of college, and fell in love with computers after his third grade. These two hobbies were closely related to his future career.

He later worked at Hope Computer Company and once presided over the development of the Chinese UCDOS platform.

Lianzhong, founded by Bao Yueqiao, is currently well-known in the gaming industry, but compared with Li Xiaofan, a director of Yahoo and chairman of Pacific Network Technology, a company listed on Nasdaq in the United States, it pales into insignificance.

What surprised Bao Yueqiao was that Li Xiaofan was actually his fellow Mingzhou fellow. In the north like Beijing, meeting fellow fellows is really cordial.

After the pleasantries, Li Xiaofan went straight to the topic: "Mr. Bao, your Lianzhong Games is doing very well. I want to invest in your company. What are your intentions?"

I heard that Li Xiaofan, who has strong capital, is interested in investing in Lianzhong Company. Of course Bao Yueqiao is willing!

In the previous life, in May 1999 of the following year, Xie Wen, CEO of Zhonggong.com, a subsidiary of Haihong Holdings, approached Bao Yueqiao and the others. At that time, Bao Yueqiao's asking price for Lianzhong Company was only 5 million yuan. Later, China Public Network first spent 2.2 million yuan to buy 44% of Lianzhong's shares, and then China Public Network invested another 8 million, accounting for 80% of Lianzhong's shares.

In this way, Haihong Holdings bought Lianzhong Company for less than US$2 million.

In the previous life, the share price of Haihong Holdings after acquiring Lianzhong Company had an astonishing performance in history. In the Internet stock market in 1999 and 2000, Haihong Holdings became one of the leaders in Internet stocks. The stock price was continuously shorted, and the maximum increase doubled several times. The stock price after restoration was as high as 176 yuan, and it once rose for 28 days in a row. As an ST, it has a brilliant record of 23 consecutive daily limits. Even after the Internet stock bubble burst, Hempel Holdings' stock price performed well. In the 2002 market, Haihong Holdings' stock price nearly doubled.

In Li Xiaofan's impression, "Whenever there is a market trend in the stock market, Haihong Holdings cannot be left behind."

"Director Li, thank you very much for your favor. Our company is still very small at present. You are very welcome to invest in our company!" Bao Yueqiao said happily.

"Mr. Bao, I wonder what you think of your current valuation of Lianzhong Company?"

Bao Yueqiao thought for a moment, stretched out five fingers and said: "Five million yuan, Director Li, what do you think?"

Li Xiaofan smiled and said: "Five million is fine, Mr. Bao. I will first spend 3 million yuan to buy 60% of the old shares of you founders. Then I will invest another 10 million yuan in Lianzhong Company, hoping to own 80% of the shares. You and your team will continue to operate Lianzhong.”

"Mr. Bao, in addition, I have just acquired a Korean massively multiplayer online role-playing MMORPG game called "Legend". My plan is to introduce this new Korean game into the country. Currently, I am registering with the Shanghai Industrial and Commercial Administration A company called 'Liansheng Network Technology' will operate this "Legendary" game in the future. 》Game, while controlling your company Lianzhong. If you are interested, I would like to invite you to serve as the director and general manager of this Liansheng Network Technology Company, and my plan is to provide equity incentives to the executives within 2-3 years. , Liansheng Network Technology Company went public in the United States, creating a leading interactive entertainment media group in Asia with a market value of more than 1 billion US dollars!”

Bao Yueqiao's blood boiled when he heard Li Xiaofan's plan. Originally, my inner valuation of my small company was only 5 million yuan. Now Li Xiaofan gave them 3 million yuan to buy 60% of the old shares of their founders, and invested another 10 million yuan. In addition, he also invited himself to be the general manager of Liansheng Network Technology Company to create an entertainment company that would be listed in the United States in the future. The empire, why doesn’t he make his heart flutter?

In the current year of 1998, 3 million yuan is already a huge sum of money. There are also executive equity incentives after the US listing in the future...

If someone told Bao Yueqiao that it would be listed in the United States in the future, Bao Yueqiao might think it was rhetoric. But Li Xiaofan is different. There are already successful cases of Nasdaq-listed companies such as Yahoo and Pacific Online Bookstore. His Yifan Venture Capital Fund has invested in a large number of unicorn companies that are about to be listed in the United States, as well as the EDA software he invested in. , the "Silicon Port" and the eight-inch wafer foundry project under construction on Hong Kong Island, as well as the discerning ICQ, Hotmail and other projects, made Lao Bao feel that Li Xiaofan, a young fellow, was a god-like existence.

Bao Yueqiao was convinced by what Li Xiaofan said.

Bao Yueqiao was quite satisfied with the investment proposal put forward by Li Xiaofan, and then called two partners, Wang Jianhua and Jian Jing, to listen to their opinions.

After hearing this, the two partners, Wang Jianhua and Jian Jing, felt like it was pie in the sky and said without hesitation: I agree!

In the previous life, the process of financing and selling Lianzhong's shares was a painful process for Bao Yueqiao and the others. We started talking about it in December 1998 and have been talking about it in May 1999, but there is still no result. All three of them hope that this painful process will end soon, because all three of them are programmers, not financing negotiators.

Therefore, in the previous life, when Haihong Holdings China Public Network promised Lianzhong that the value was 5 million yuan, the three of them felt that China Public Network was very refreshing, and they immediately liked it. Since their bosses were so cheerful, the three felt that there was no reason for them to be coy. . The three of them understood that although the price might be higher if they wait for a while, they might not be able to sell it at all. They had already encountered too many obstacles in the financing process.

At that time, the three of them had not paid themselves a salary for a year and a half, and all their savings were almost used up. The original idea of ​​doing projects to support themselves was simply unrealistic. Lianzhong had consumed all their energy and had no time to take on scattered projects. Do.

I originally wanted Lianzhong to start charging after three months of being free, but the situation simply didn’t allow it, so I planned to charge after one year. However, in the end, I simply didn’t mention the charging. The reason why many companies refuse to buy Lianzhong is that they think this thing cannot make money and is not interesting.

On the one hand, Bao Yueqiao told investors the stories of ICQ and Hotmail, saying that these products did not have a clear way to make money and were acquired at large prices; on the other hand, he was also worried that this road would not work in China...

In the previous life before Haihong Holdings, no investor was determined to invest in their Lianzhong project.

Li Xiaofan dared to hand over the operation and management of the "Legend" game project and the newly formed Liansheng Network Technology Company to Bao Yueqiao, a fellow villager, because Li Xiaofan admired Lao Bao's character.

In a previous life, when Bao Yueqiao and three other Lianzhong founders negotiated with Heihong Holdings China Public Network on the conditions for Lianzhong's investment and acquisition of shares at a price of 5 million yuan, someone came to them a week later and was willing to offer 30 million yuan to buy Lianzhong's shares. But Lao Bao and the others were not tempted. Since they had agreed to Haihong Holdings Zhonggong.com, they would honor their original promise honestly.

After discussing the specific matters regarding the merger and acquisition of Lianzhong Company, Li Xiaofan also gave Bao Yueqiao a task:

"Mr. Bao, when you are free, our Liansheng Network Technology Company can build a new online literature platform called 'Qidian Chinese Network', which will provide a steady stream of IP for our interactive entertainment media industry in the future..."