The Pioneer of the Rebirth Era

Starting to visit relatives in the second day of junior high school, Yang Dongxu left his hometown and went to Hangzhou until the seventh day of junior high school.

Zhou Ya and her son Wenchen didn't come with them. They didn't return to Shanghai until the fifteenth day at home, and it happened that Wenchen didn't start school until the fifteenth day.

In the past few years, Hangzhou has developed rapidly, especially with the emergence of two star Internet companies. The housing prices in Hangzhou are much higher than those in another time and space at the same time.

Of these two star machine companies, one is naturally Ari, and the other is Rising Sun Technology.

Especially Sunrise Technology, on the surface, Sunrise Technology is just an Internet company that takes YY dating as its core and earns a lot of profits from games. It looks like Tencent in another time and space.

But in fact, if you can take a good inventory of other departments of Rising Sun Technology, you will find that this is a business empire dressed in game technology and dating software.

First of all, not to mention the 361 series products that everyone is using now, the investment department alone is a hidden predator.

Yang Dongxu clearly had high hopes for YY, so before YY came out and Rising Sun Technology was still making games, he let Chen Xin control the investment department and started to attack everywhere.

For example, Campus.com, a relatively popular website before, was an angel investor at the beginning of Rising Sun Technology, and it has grown in scale after several rounds of financing.

Feeling that there is a certain threat to YY, so I directly used the identity of the major shareholder to buy him into YY. Now YY has an additional function of making friends on campus, and I can enter the green grass under the head.

Another example is Dianping, Ganji.com, Wuba.com, Tongcheng.com, Ctrip.com, etc., which are currently very popular, and there are a lot of popular websites at present, all of which are invested by Rising Sun Technology.

In short, as long as there is a promising industry, Rising Sun Technology will invest. Those that are helpful to YY's growth will be absorbed in, and those that are a threat to YY will be merged first, and the mergers and acquisitions will not be directly suppressed.

If there is no threat to YY’s growth and can make money, not only should you be an angel investor, but you should continue to follow up with subsequent refinancing until you feel satisfied with the rate of return, and then withdraw your hand and reap a lot.

So don't look at the fact that Rising Sun Technology has made a lot of money by relying on YY and games in the past few years, which is enviable. If the investment department calculates the various returns, the rate of return is also frighteningly high.

In the current circle, the reputation of Rising Sun Technology's venture capital is also well-known. Chen Xin already has the title of Goddess of Wealth.

So looking at the entire Internet market, although Rising Sun Technology does not occupy half of the country on the surface, the hands of the secret investment department actually cover the entire industry.

For example, in online shopping, which is relatively popular now, Yang Dongxu invested in Ari, and also invested in Jingdong. Even the hidden bigwigs like Huawei who are engaged in real technology have contacts and cooperation.

Except for companies that have already started, such as Baidu, the four major portal websites, and Lenovo, etc., Yang Dongxu did not do anything, and other emerging Internet companies seem to have his shadow behind them.

Even among these companies that have no investment, NetEase of the four major portals has been plucked by him, and he has bought shares of Baidu, and even Shengda Chen's richest man has made a fortune by him. He took a bite of almost all the cakes that could be seen.

In the office of the chairman of Rising Sun Technology, Yang Dongxu said after reading the summary of last year's investment report and the selection of this year's investment projects.

"After the listing of Dangdang.com, it will gradually reduce its shareholding."

When the investment department was established, Yang Dongxu worked with the investment team formed by Chen Xin for a period of time.

Just like when Tunghsu Technology's game department was first established, he led the legendary game team, first set up the company structure, then set up an orderly server, and made various suggestions for game promotion. He did many things by himself.

However, after being familiar with the business of the investment department and the game department, he now only controls the general direction, and rarely rushes to hold meetings with the managers of various departments in the investment department.

If there is no major change in a year, he will rarely call the game department to hold meetings with the 361 department.

This kind of decentralization only controls the general direction, which can let the people under him loose their hands and feet, and can consolidate the authority of the managers of various departments.

Just show up once in a while and tell the people below that there is a real big boss above the majestic manager. This is conducive to the overall control of the company, and it is the best way to operate at other times.

"Are you not optimistic about Dangdang? Now many people feel that Dangdang may be able to catch up with Ali and Jingdong after its IPO and financing." Chen Xin said.

"On the surface, it looks like this, but Dangdang has irreparable shortcomings. To be precise, it has the same disease as Amazon, but not the same fate as Amazon.

Dangdang copied Amazon from the beginning, and Amazon has been reforming in recent years, but Dangdang is still running on the original path of Amazon.

More importantly, Amazon has time to reform and cure diseases, while in China, both Ali and Jingdong are staring at Dangdang.com.

Now the three companies check and balance each other in peace, but after the listing and financing, no matter what Dangdang wants to do, the two will definitely make trouble. Coupled with Dangdang's own problems, it was difficult for him to think about it. "

In fact, it's no wonder that Chen Xin didn't see the trend that Dangdang.com was about to prosper and then decline. If it weren't for the person who came over, Yang Dongxu wouldn't be able to see this.

After all, taking advantage of the fact that the Internet has developed more rapidly than another out-of-control Internet, Dangdang is also ready to take off.

In another time and space, in 2004, Amazon made a proposal to acquire 70% of Dangdang's shares at a price of 150 million US dollars.

Later, Dangdang refused, and offered 70%-90%, which can be negotiated between 100-100 million US dollars. And what was Ma Fengyun doing in the same year?

In 2004, Ma Fengyun just launched the payment platform. Although the company's valuation is not low and has a bright future, it is a fact that Dangdang is stronger.

And in this time and space in 2004, Amazon wants to acquire 70%-90% of the shares of Dangdang, and the price offered is 2 billion to 3 billion US dollars, which can be negotiated.

Because the Huaxia Internet market is booming under the influence of his butterfly wings, this valuation is two or three times higher than in another time and space, and Dangdang.com has not stopped in recent years, and now the company's valuation has reached 4.5-5 billion US dollars about.

And to prepare for the valuation of the stock price of the listing plan, it is prepared to go at 5 billion US dollars.

Based on the valuation at which the company's market value can at least double after listing, the proper tens of billions of companies have not run away, and they are still tens of billions of dollars.

Converted into RMB, this is all going to big companies with hundreds of billions of dollars. And another space-time Dangdang.com was listed at the end of 2010.

This time and space is now only in early 2008, almost three years earlier than the listing time. With such a scale and strength, it is only natural that all venture capitalists are optimistic that Dangdang will take off.

It is also clear from Yang Dongxu's hangup that after the listing, Dangdang.com has indeed ushered in its own highlight moment, and then it is like a tiger.

Yitong’s various magical operations began to pave the way continuously, and reached the peak after a period of time on the market, and then never returned to the peak, let alone surpassed the peak.

Although she is still optimistic about Dangdang.com, Chen Xin still chooses to obey the undefeated myth that Yang Dongxu has created in her heart for so many years.

What's more, even if there is no such myth of invincibility, Chen Xin will still respect Yang Dongxu's opinion, so she pondered for a while and said, "Then I will cash out after the listing, and do some actions before, so that the outside world feels that the funds of the Rising Sun Technology Investment Department are a little tight." .

Then, after the company goes public, a wave of cashing out is also a routine operation to deal with the financial crisis, and it should not cause any unnecessary troubles. "

"Look at the arrangement, it's best to clear out the holdings and leave the market within one year." Yang Dongxu said.

According to the company's listing, it is basically the usual practice for the whole country to rejoice from top to bottom of the company, rewarding all kinds of meritorious deeds, and then making big moves.

So when the time comes to cash out, whether it is Dangdang executives or investors, they are the least vigilant. Instead, they repurchase the stocks in Chen Xin's hands and feel that they have made a profit.

After the listing and financing, Dangdang's stock price is estimated to rise a little bit, and cashing out within a year can maximize the benefits.

Even if it is not cashing out at the highest position, based on the current 23.46% of Dangdang shares held by Chen Xin, based on an estimated market value of 10 billion US dollars, it can be cashed out at a minimum of 2.346 billion US dollars.

And how much does it cost to invest in Dangdang.com?

The angel investment was US$500,000, followed by US$1.5 million in Series A financing, US$5 million in B financing, and US$1,200 in C round financing to ensure that its shares would not be diluted.

A total of 19 million U.S. dollars has been invested, and a return of 2.346 billion U.S. dollars has been returned. The return rate is more than ten times, which is not too exciting.

So Yang Dongxu is satisfied even if he doesn't cash out when the stock price climbs to its peak.

"How will the funds be used after cashing out? I'll keep them for you?" Chen Xin knew that Yang Dongxu was going to take advantage of the subprime mortgage crisis to taint the American consortium, and had been mobilizing funds since last year, many of which were handled by her.

"Isn't Dangdang planning to go public in April? If you gradually cash out, you may not be able to catch up with the funds. At most, in July and August, the Lehman consortium was overwhelmed and couldn't stand it. The subprime mortgage crisis began to completely Erupted.

So for this money, you follow the steps of cashing out to make follow-up planning. If there was a shortage of funds here at that time, I would go to the bank to borrow money, and you don't have to disrupt your investment plan. "

"Understood." Chen Xin nodded.

"That's how things are arranged, and other investments can be carried out according to the plan you made. I'm going to fly to Shencheng in the afternoon, do you want to go there together?" Yang Dongxu asked.

"Has Dongxu Technology encountered any problems?"

"It's not a problem. It's not that William's chip production technology has gradually matured. Except for mobile phone chips and the car chips that I tried before.

Tunghsu Technology is preparing to join hands with RONG WEI chip company to improve computer chip technology. After all, there are many chips in computer hardware.

The black ones on the memory stick are chips. There are many chips in the motherboard, hard disk, graphics card, etc., plus the CPU of the computer. This is a big project. It needs to be planned in a meeting. "

In terms of chip design and application, Dongxu Technology has actually been at the forefront of the world's chips, at least in the top three in all aspects.

But in chip production, it has always been to find someone to do it. Now that we have our own chip, and the chip factory has passed the initial adaptation period, it is natural to arrange everything that can be arranged as soon as possible, and time waits for no one.

Don't take advantage of the fact that the old American consortium is now focusing on the Lehman consortium and its rapid rise in other fields.

I don't know how to get stuck in the back.

"Then you go. I'll break down the investment plan. There are a lot of new projects in the first year and I'm very busy."