Seeing that Robert Swanson's neck was bruised, and he had a tendency to stop the conversation in annoyance, Xia Yu immediately said: "Actually, you can listen to my conditions, our company is willing to pay a high premium and contribute 35 million US dollars for the 25% equity you hold!"

"After three rounds of investment, you have invested a total of more than 300,000 US dollars, and you have reaped more than 100 times the profit!"

As soon as these words came out, Robert Swanson was directly stunned.

And Harry Morrison's pupils shrank, and the inner resistance collapsed instantly.

$35 million to buy a 25 percent stake is equivalent to valuing Genentech at $140 million.

Now Genentech's total assets are only about $2.5 million, and its annual net profit is negative, which is already a very high valuation.

Although the outside world is generally valued at $100 million to $150 million, they know in their hearts that this valuation is also the price after listing.

Genentech is already going through the listing process, they have made internal estimates, and they have also looked for investment banks, and the investment banks are willing to give a very low issue price, which is based on a guaranteed market value of $100 million.

At this time, the valuation given by Xia Yu is much higher than that of investment banks, which is equivalent to a 40% increase in stock prices after listing.

And they don't need to wait another half a year, they don't need the stock to be locked for a year, they can get the money in advance to invest in the company they want to invest in, and they don't need to take many risks!

Although there is still half a year to go, maybe Genentech will perform better and greatly increase the issue price, but this is not absolute.

Because Professor Herb Boyle is still engaged in research and development, Genentech has not launched a product on the market, and there are too many unknowns for scientific research, and it is normal to skip tickets.

If Professor Herb Boyle had not developed the results on time, the patents that had been developed so far would not be enough to support Genentech's high valuation.

The reason why Genentech's valuation is so terrifying now is precisely because the capital market has super high expectations for Professor Herb Boyle, and once this expectation is burst, it is the beginning of the bubble bursting!

As for whether they have confidence in Professor Herb Boyle, in the face of outsiders, Harry Morrison and others will definitely say yes, but in fact, they themselves are not sure.

The probability of doing experiments and conducting scientific research is too small, and it takes countless failures.

Throughout the ages, many scientific research results have appeared in unexpected circumstances, and they have often been searched for, but they cannot be found.

Seeing the hesitation on the faces of the three of them, Xia Yu was sure in his heart, and continued: "Mr. Morrison, Mr. Swanson, we are sincerely coming to negotiate with you, and we are also holding a win-win attitude, I can tell you very calmly that our Polaris Capital is strong, and we have the strength to take the risk of Genentech, and we have the patience to wait." ”

"And you Kohler Perkins need to give investors an answer, their patience is not necessarily very good, for Kohler Perkins, it is best to specialize in angel round and A round of venture capital, such as now, as long as you invest in one, you can get a hundred times the profit. ”

"As for us, if we invest a lot of money, we will make a lot of hard-earned money, and we will be happy to double it. ”

"You might as well think about it, let's go back first, and then come back in the afternoon. ”

After speaking, Xia Yu took a sip of the teacup, got up and left with someone.

Harry Morrison sent Xia Yu and the others out of the door distractedly, then returned to the office, closed the door, and said in a solemn voice: "You all heard it just now, what do you think?"

With that, Harry Morrison set his sights on Robert Swanson.

As for the other person, Colin Hicks also subconsciously set his sights on Robert Swanson.

All three of them are at the heart of the Co., Harry Morrison and Colin Hicks.

And Robert Swanson has completely relied on his own ability, step by step from a low-level partner to the current point, and it is the discovery of Genentech that has carried him to his current position.

Whether to sell the equity or not, although Harry Morrison has direct rights, but for the sake of the stability and unity of the company, he wants to give Robert Swanson a certain respect.

As the CEO, Harry Morrison has some things to say, but Colin Hicks is an old partner with him, so he naturally knows the attitude of his friend, so he took the initiative to stand up and state: "In the past four years, we have invested a total of $367,000 in Genentech, and if we follow the price of $35 million given by Polaris Capital, we will get more than 94 times the profit." ”

"And this is only their first bid, as long as they continue to talk, the price will be even higher, at least more than $40 million!"

"And the total capital of our company now is 47.2 million US dollars!"

At this, Colin Hicks said no more, and took a slow sip of his coffee.

Robert Swanson's face was constantly changing, and his heart was fiercely fighting.

He knew that Colin Hicks was speaking to him!

After a long time, he said in a somewhat hoarse voice: "Professor Herb Boyle trusts us very much, if we sell our equity to Polaris Capital, he will probably not accept it!"

"And I have a lot of confidence in Genentech, I believe that after waiting for another half a year, Professor Herb Boyle's R&D will produce results, and Genentech's market value will not be low!"

After saying that, Robert Swanson looked straight at Harry Morrison.

Harry Morrison sighed, looked at Robert Swanson, and said calmly: "Robert, to be honest, Mr. Xia's reason and price just now moved me. ”

"He had a sentence that woke me up, we are in the venture capital company, we can only be regarded as a small role, now we specialize in angel round and A round, which is the best for our company, when we first set up the company, Colin and I also decided to do so, but then you discovered Genentech, far beyond our expectations, we followed the B round, but our strength is not enough to continue to follow the C round. ”

"Luckily, Genentech is growing fast enough to skip financing and go public, or we're faced with a choice. ”

"But now, there is a sudden choice, I think we have to face it, this is not only a matter of investing in one company, but also involves the strategic positioning of the whole company, which is the most fundamental thing!"

After talking for such a long time, Harry Morrison paused, took a sip of coffee, and then said quietly: "Robert, I know that you have a good relationship with Professor Herb Boyle, but he is a person who is obsessed with scientific research, and I believe that as long as you explain it to him, he will definitely understand us." ”

"Even if we don't exit now, when the company goes public, we still have to choose to exit, which is the result that can't be changed, the difference is just that sooner or later. ”

After Harry Morrison finished speaking, the whole office fell silent, and no one spoke for a long time.

After a long time, Robert Swanson finally figured it out, he let out a long sigh, nodded and said: "Harry, you are right, it is indeed more beneficial for the company to withdraw now, I will listen to your decision, and I will try my best to explain to Professor Herb Boyle." ”

Hearing Robert Swanson say this, Harry Morrison and Colin Hicks smiled.

Harry Morrison smiled and said, "Thank you, Robert, for your understanding, after the transaction is completed, you will receive a generous bonus. ”

Robert Swanson barely squeezed out a smile and thanked him, "Thank you!"

Colin Hicks clapped his hands and said, "Okay guys, congratulations on our internal agreement. “

"Let's talk about how to negotiate, don't forget that Polaris Capital will come back in the afternoon, that young Asian is not an easy character, and the three of us were dumbfounded by him. ”

Harry Morrison smiled confidently and said: "Colin, don't belittle ourselves, just now because we didn't have any preparation, in the afternoon, the initiative was on our side." ”

Colin Hicks smiled and said, "Haha, that's right, but we still have to prepare." ”

"Strive to sell the equity for a higher price!"

Robert Swanson said viciously: "This must be obtained, it must be sold for a good price, which contains several years of hard work of mine!"

"Hahaha......"

ps: Writing is not easy, the subscription is scary, piercing, kneeling for genuine support, friends from the outer station, the main station is the starting point Chinese network and the starting point reading app, thank you!