The entertainment industry shouldn't be like this

Chapter 227 Isn’t he really trying to steal money?

In mid-May, Wang Wei’s last personal investment in e-commerce Amazon finally arrived.

With a total investment of 500 million, Amazon founder Zhao Yichuan can freely develop his ideas and open up his own territory.

Of course, this also means that the valuation of his shares has skyrocketed, and a new billionaire has emerged.

——Even in an era when the Internet is creating wealth, millionaires and multi-millionaires may not be uncommon, but billionaires are still an existence that most entrepreneurs look up to.

But Zhao Yichuan is not very proud, because the young man in front of him is about to engage in a larger financing and create wealth that will astonish even billionaires.

Some people may be wondering, Wang Wei personally has money to invest in other Internet companies, why does his own company need to raise funds from outside the company?

Not to mention the question of whether he has enough personal funds to burn - Penguin Communications has more than 150 million users, and its personnel, venues, and servers have to expand accordingly. In front of this crazy-growing "Penguin", the demand for funds is a bottomless pit.

What's more, if Wang Wei personally reinvests, the shares will be highly concentrated in his hands, which may not be a good thing for an Internet company.

The most important thing is that Weibo technology has also reached a stage where it needs the help of venture capital.

——The "help" here is more about talent support.

Wang Wei saw a formula in his previous life: sustained enterprise success = strategy × organizational capabilities.

"A valuation of tens of billions!? Does it mean that we need to spend at least one billion to obtain 10% of the shares? Isn't he really trying to steal money?"

"Young boy is just not trustworthy!"

Holding his two hands together, Zhao Yichuan nodded heavily: "I believe this too, let's encourage each other."

The partner thought about it and said: "None of them, he is more like... calm and relaxed."

"I saw him build a tall building, I saw him entertaining guests, I saw his building collapse. Even if he had over 100 million users yesterday, and a more popular new product appears today, users will leave him in an instant, and the company's valuation will follow.

It plummeted."

Wang Wei signed the transfer agreement, stood up with a smile, and extended his right hand to him: "I believe this day is not far away."

Weibo Technology was previously relatively small, with only one core product, and simple management of personnel was relatively easy. Through internal selection, it established a highly effective management team.

"And the Internet industry is not the entertainment industry. It is a thousand times more realistic and 10,000 times crueler than the entertainment industry. The outdated stars in the entertainment industry can earn some living expenses by relying on a few songs and movies in the past.

Even if an angry website humbly provides free services, it will be difficult to gain attention, because many people have forgotten his registered account."

It just so happens that such a start-up company can meet its development needs by relying on the founder's self-raised funds. It is not interested in external investment, leaving investors with no way to start.

Pengcheng Venture Capital is one of the top three companies in the domestic venture capital circle. If you hadn’t seen it with your own eyes, it would be hard to believe that these venture capitalists, who usually travel all over the world, would gather in this room at the same time. It’s so similar.

In the movie, the big guys are doing things that are inhumane to outsiders.

In an office in a building just across the street from the Weibo Technology Headquarters, several men with different expressions were standing or sitting, and the air was filled with the smell of a storm.

Although their Pengcheng Venture Capital Fund can easily raise more than one billion yuan in one round, so each investment will not be too small - if it is too small, firstly, there will not be so many companies to invest in, and secondly, there will not be so many people.

and energy to review tens of thousands of companies.

As soon as these words came out, some people's eyes widened, some people almost dropped the cigar in their mouths, and some others smiled disdainfully——

For most venture capitalists, in the boom of Internet company development, it is already difficult to figure out which entrepreneurs are worthy of investment; countless new concepts and technologies are displayed in front of them every day, and it is difficult to judge which entrepreneurs will be worthy of investment.

It is not easy to become popular.

Sitting on the leather sofa, the founder of Pengcheng Venture Capital Fund, who had been silent, slowly stood up, made a final decision, and then turned to the partners who had been in contact with Wang Wei,

The news that Weibo Technology has launched its second round of financing has shocked the entire venture capital circle.

From this perspective, Wang Wei, the "miracle worker" who made many venture capital investors have greater confidence in Weibo technology, has actually become a roadblock.

However, as more and more aspects have to be taken into consideration, they blindly pursue perfection and fail to respond quickly to rapid trial and error correction; if they do not replenish the team in time and add experts in operations, products, markets, HR, etc.

The more Bo Technology expands, the easier it is for organizational management to get out of control.

And finding professional managers, especially those who are familiar with the Internet, is a specialty of venture capital.

Zhao Yichuan naturally understood all these things, and he couldn't help but be a little envious: "I don't know when Amazon will have a veteran venture capital to come to the door..."

"We must win the shares of Weibo Technology! I don't want to miss an Internet myth, even if there is only a glimmer of possibility!"

But if you look carefully, you will find that these people will look out of the floor-to-ceiling windows from time to time, towards a very inconspicuous building opposite, where Weibo Technology is located.

Wang Wei’s Weibo technology is a breath of fresh air.

This company is developing at a rocket-like speed, with a user base of tens of millions or even hundreds of millions every year. As long as it continues to develop at this speed, it will inevitably become one of the most influential Internet companies in the country...

If you find the right outlet, a pig can fly; but whether it can last long depends on organizational ability.

…

Wang Wei first needs to find an excellent professional manager to be the CEO.

"Do we really want to make such a big deal all at once?"

In fact, influential established venture capital firms have a handful of CEO candidates in their hands. These people may be founders and executives of companies that the venture capital has invested in before. This is why famous venture capital firms are more likely to succeed than small investment firms.

One of the reasons is that the former reserves many talents who can manage the company on its behalf.

But all the way to this day, Wang Wei had an alarm bell beeping in his heart: Weibo Technology’s management had reached a point where it had to be reorganized——

"To be honest, I have participated in too many investment plans of heavyweight companies. I can't even count them on my toes, which are more amazing and promising than Weibo Technology. A company that was founded less than three years ago actually dared to internally

With a valuation of 10 billion, I think the most important lesson they should learn first is humility."

The advantage of the engineer management team led by co-founder Jiang Lei is that it has strong technical capabilities, the ability to quickly develop products, and the spirit to persevere when encountering difficulties.

In short, if venture capital is used well, it will be an excellent partner for entrepreneurs.

The partner who was retorted by him was silent for a moment, but couldn't help but shake his head: "But, man, his valuation is too high!"

"Was Wang Wei's attitude at that time eager or indifferent?"

However, an investment of one billion or more is really an exaggeration!

A partner who had contacted Wang Wei first, supported a round table in the middle with both hands, Weng Sheng said: "This is a very difficult transaction. The news released by Wang Wei is that Weibo Technology has conducted an internal valuation.

And the preliminary valuation will not be less than 10 billion yuan!"

In addition, Weibo Technology will carry out industry mergers and acquisitions in the future. If it relies solely on itself, it may not find the right path. At this time, venture capital investors with extensive "contacts" can help connect the companies they invest in.

The same is true this time.

At this time, a venture capitalist who was standing in front of the floor-to-ceiling window and looking out, turned around and felt that it was necessary to wake everyone up and said in a deep voice——

"Oh, by the way, we also rejected Director Luo from Tangyu Media to become a partner of our fund because we were worried about the opinions of this 'little boy'. Who dares to underestimate him?"

"The young boy you call has founded a company that may become the overlord of the Internet. So many of us gathered here just to knock on his door; and he also planned an Internet storm a while ago.

The successful linkage between the Internet and the entertainment industry has also made the five traditional media groups feel a greater threat..."

They are all well-known in the rankings of domestic Internet venture capital figures. Many of them have successfully founded technology companies, and are now partners of Pengcheng Venture Capital Fund.

The founder was stunned for a moment, then showed a faint smile: "Then there's no need to argue, just wait."

"What are you waiting for?"

"Waiting for him to give us an answer to grab money based on strength!"

…

(End of chapter)