Salted Fish’s Self-help Strategy

On this occasion today, it is impossible to lack Ali, after all, this is the West Lake, Ali's home court. But Ali's main person in charge has not yet arrived, including Zhao Zhujiang and other real bigwigs, so although the dinner has started, it has not yet reached its climax.

Another qualified to use West Lake as the home court, although the profitability is good, but not keen on mergers and acquisitions, this is the biggest gap between companies other than AT and AT. There used to be a saying that the ultimate fate of being a technology company in Tianchao was to be acquired by BAT. On the one hand, it shows that AT has a strong desire for mergers and acquisitions. On the other hand, it also shows that AT is rich and willing to spend money.

This gene needs to burn a lot of money to burn it out, and it may take a lot of water in the initial stage. Therefore, whether to embark on a large-scale merger and acquisition of no return is a difficult decision for every company with ample cash flow. This is also the reason why Chu Yuanxi teased that Zhang Ming is very close to the big penguin, only to make a layout in the investment field. For a company with such abundant cash flow as Toutiao, it is impossible to compete with Ali Penguin if it does not invest tens of billions of dollars a year, and relies on its own to slam out APP.

On a table far away from Chu Yuanxi, a few well-dressed successful men gathered together for a chat, and they couldn't see the competitive relationship between them. On this occasion, they need to hug each other so that they can obtain the ideal consideration, instead of vicious competition and price war.

One of the older men in a suit asked, "Is that little brother over there a friend of President Yuan Mu? Why didn't he introduce me to chat?"

"You didn't see people wearing t-shirts? Maybe it is the new vice president of which giant company? Yuan Mu always knows too many people. To say it is too young to be younger now, many post-90s are doing it. As the backbone of a big company, my stupid son is still a dude. I really want to kick him out of the company and let him go on his own. I am afraid that our tigress will go crazy." Another bald man sighed.

"Hey, hey, Shang Zhou, don't be too humble." The older man in the suit waved his hand: "Who doesn't know that your son is young and promising? After studying abroad, we are too late to envy us."

When they were talking about each other's business, Lei Siyun passed by and sneered: "What is the vice president of a giant company? No, it's better to coax money. I made a mobile game and made a fortune, and I came here to learn to invest. "

Several successful men suddenly dazzled their eyes, and thought of it together: a rich man?

After Lei Siyun finished speaking, he added sourly: "His company was led by Yuan Mu to vote for the A round." After that, he walked away.

Seeing Lei Siyun's departure, several successful people looked at each other, and then they lowered their heads and started to eat, just with their own thoughts. Shang Zhou's baldness is the deepest. He is very aware of his own situation and has reached the point where he must be acquired, because the financing has already been financed through the E round, but the valuation is only 800 million.

This estimate is sufficient to illustrate the seriousness of the problem. For a real technology company, it is normal for the angel round to be valued at 50 million yuan, and the A round is at least 200 million. If it is less than 200 million, it will make people feel problematic.

The B round has a valuation of at least 500 million. There is no 500 million, and 400 million is fine. What if you can’t get there no matter how you tell the story? Don't melt B round, change the name, melt A+ round.

The C round valuation is less than 1 billion is certainly not worthy of people, but the C round is more flexible after all, the valuation models given by different investment institutions are different, some are based on the price-earnings ratio, and some are based on the market-sales ratio. According to the market share of some, the estimated value will be several times different, so it is better to say even if it is lower.

Why should there be greater growth in each round of valuation? Because only in this way can the investors who come in ahead have profit margins, even if it is a floating profit, so that everyone can explain and be in a healthy state.

For example, if the B round was valued at 400 million and the C round was valued at 1 billion, investors did not earn 150%, because the post-financing valuation of the B round was not 400 million, but 400 million + financing. Assuming that the round B financing reaches 100 million, if the C round can only be estimated to 700 million, investors in the B round will not even have a 50% profit margin. This is not a success at all in the early stage of investment. It is called fearful instead. more suitable.

But your financing has been raised to the E round and the valuation is only 800 million. This shows two problems. First, you are more able to fool and find the wrongdoers. Second, the company must be unattractive.

The problem is that even if technology companies continue to lose money, as long as the technology is really strong and there are landmark results that can measure milestones, financing is not a problem at all.

For example, Lanqi Technology, which is also sprinting for the science and technology version, is Yang Chonghe, the first person to design chips in the sky, how embarrassed was that year? The first self-developed DDR2 memory buffer chip was launched in 2005, but no one used it because of the long technical verification cycle. So the entire R&D expenses are burned into air.

But because the technology is really good, money is not a problem at all, so I continue to burn money. In 2010, DDR3 was developed and finally sold well. Finally, DDR4 was launched in 2013 and was certified by inter and established as an industry standard.

This is called a technology company, with technology and fearlessness.

Even so, the valuation of his old man on the Kechuang version is too ridiculous. The advent of the Kechuang version has doubled the valuation of Lanqi Technology.

On the other hand, lack of attractiveness means that the technology is also in a dilemma at the same time, whether it is the failure of research and development, the failure of patent applications, or the loss of core personnel, in short.

But it won’t work if you don’t continue to raise funds. Technology companies burn most of their money~www.wuxiaspot.com~. The result of no money to burn can only be bankruptcy, and they must make blood crazily. Therefore, many start-up technology companies are eventually dragged down by the growth rate. It is not that there is no growth or no results, but that the growth rate is a little slower and continues to fall into the financing trap and is dragged down by the difficulties.

At this time, the best way out is to be acquired, and an angel who takes over is needed. This angel must first be rich, and secondly inexperienced. The experienced boss doesn’t need to ask about the specific situation. Once you look at the technology company with a valuation of 800 million in round E, you turn around and leave. No matter what kind of problem you encounter, don’t do anything. Let it be my problem.

Who is most likely to be inexperienced? young people! Thinking of this, Shang Zhou's eyes flashed Li Mang, and he got up to find someone.

Soon, Chu Yuanxi received a message from Yuan Mu in WeChat: Look at this company, Technology last week.

Chu Yuanxi hurriedly called up the introduction of last week's science and technology, and then couldn't help but brighten up, saying that she was good at blowing it! The key is to make the bragging posture correct. A company like this one is very on the road, starting from the company's name-the company is at the forefront of technology in the world, and the most backward technology in the company was also last week.

If you can figure out how to brag when you are naming it, then it must be no ordinary person, like it!