Uncle Sheng felt quite weird, and it seemed necessary to get to know Chu Yuanxi again. He thought that Chu Yuanxi wanted to raise the price, how beautiful the price increase was, of course the price increase on the basis of 30 billion would not only raise the price, this is a lot of money. It's also good to be able to pay more points in the next dividend, at least it has an intuitive impact on every co-founder.

As a result, I didn't expect Chu Yuanxi to be most concerned about Disney's willingness to replace the copyright of "Animal Inc." as a whole. This is too fresh, right? The contract signed with the Mi Guoyan did not bind this matter, as a witness to the signing, he knew very well, in other words, Chu Yuanxi did not have any problems no matter what he did, what did he want?

But I can't ask at this time...... Uncle Sheng had to tug Chu Yuanxi's sleeve and whispered, "There's no need to make extraneous branches, right?"

"How can it be called extraneous branches?" Chu Yuanxi formulated three negotiation goals according to the latest situation, and said while listening to the phone: "We have to consider the interests of our partners first, and then consider our own etiquette, so that there will be more and more friends." It is not only the place where the contract is signed that we need to be responsible, but also the tacit part of the responsibility, at least to maintain an outcome that is satisfactory to all parties. ”

Uncle Sheng had no choice but to watch Chu Yuanxi's performance silently, and said in his heart that there was still a tacit part, why didn't you tell me, hey?

It should be said that there are some inside stories that Uncle Sheng, who is only responsible for copyright, is not aware of at all, such as the comprador theory that Elizabeth explained to Chu Yuanxi. Therefore, he didn't know any of Chu Yuanxi's three negotiation goals, and it was natural that he couldn't understand Chu Yuanxi's negotiation strategy.

Soon a transatlantic phone call was about to end, the time here was after dinner, and it was just before breakfast there, and it was obviously impossible for Defoe, as a seasoned professional manager, to give his attitude immediately, although he also knew that if Chu Yuanxi insisted on selling, his attitude would not have a substantial impact.

"It's ...... for us It does have an impact on us and can disrupt our plans. Defoe concluded, "But since the acquirer is stronger...... Anyway, we need a little time to look into it. ”

Chu Yuanxi said a few words apologetically, put down the phone, and smiled at Lao Fan, "Mr. Fan, you have to testify to me, I really didn't rely on "Animal Company" to increase the price. ”

"Anyway...... Why do you pay so much attention to whether the price is increased or not?" Lao Fan was stunned, and said in his heart, Didn't you plan to add 10 billion last time? I have never seen such a big blood basin, especially for me. Why did you make a 180-degree turn this time?

"I don't know what to do, my reputation is not good. I reached a project with Disney to hug my thighs, and after hugging my thighs, I immediately packaged the project and sold it at a higher price, didn't that become a speculative sales contract? It means that I sold my thighs, so what can I do? Who will dare to let me hold them in the future? So it's too difficult for me to deal with it so that all parties are satisfied, but I also have to pay attention to reputation. Chu Yuanxi frowned.

Lao Fan's face suddenly turned strange, and he said in his heart, isn't this what you are doing?" "But, but you still have to add money to the price we gave, who knows where you added this part of the money?"

"Alas, don't mention it, the mini-game plan is really hard to explain. Chu Yuanxi said and glanced at Uncle Sheng vaguely, and found that Uncle Sheng had already entered the state, didn't say anything, and was quiet as a background board, which was very good. "So I guess I was young and frivolous before. ”

"Ouch!" Lao Fan was overjoyed, and he couldn't think that it was so smooth!, "So you don't plan to increase the price?"

Unexpectedly, Chu Yuanxi actually said: "If you can accept the stripping of the IP of the mini game and leave it in the Ba Ren Group, I think it's okay." ”

"Then how do you strip it?" Of course, Lao Fan quit. Because, although the formal due diligence needs to wait until TS is signed, the public information can be directly queried, and Dawen Entertainment's due diligence on Ba Ren Games has already been launched, but the core data cannot be seen. And the Ba Ren Group is relatively transparent, so for the companies to be acquired, especially the transaction volume is still so huge, Lao Fan of course knows all the information well.

The Mini Game IP was brought out by Chu Yuanxi alone in the last negotiation to make a wish, and it must be the focus of the investigation. As a result, I found that this set of methods is not only to push up the price of several IPs, but also to make the order of the game first and then the IP so that the IP development work can be based on the promotion effect of the game to reduce invalid creation. It is a long-term mechanism to improve the success rate of game companies in developing games as a whole, which belongs to the category of methodology, genes, and infrastructure construction, and what is improved is the foundation.

In the game market of the Celestial Empire, there are countless games released every year, and less than one percent can achieve some kind of success, so that most game companies have begun to chase IP.

The method of mini games directly screens out gamers as hot-start seed users, which is fundamentally different from simple IP adaptation games. It is equivalent to iterating the original method, not only to obtain more accurate target users of the game, but also to use the diffusion attribute of the mini game to enhance the influence of the IP, and get as many fans and attention as possible.

So another question arises, from a business point of view, the Mini Game IP plan is actually a model innovation, but it is not a technical barrier, so is it possible to directly follow the trend? Is it possible to run the whole process through a strong group combat capability? Even better than Baren Games?

If so, then it is clear that there is more initiative in the negotiations.

But it's hard to argue, because it takes at least two years to go through the whole process. Starting from the creation of IP, to the production and launch of mini games, to the activation of viral forwarding to acquire players, and then the game company develops the corresponding large-scale games, the ultimate goal is to make profits. There are many links, and if any link fails, you will lose an opportunity to try.

Therefore, its argumentation work is very empty, because the Ba Ren game that proposed this structure has only just begun to run the process. If it's not a game, but any other business behavior, Ali can get a conclusion based on his huge and long experience accumulation, but in the field of games, I'm sorry that there is no valuable accumulation.

Therefore, its value is unknown, so making money is actually an option, and even Ali's best option. The merger and acquisition is just right, and it is replaced by your own promotion and continues to run.

I saw Chu Yuanxi wave his hand, "If you can't peel it off, you still have to add a little bit." Zhang Ming talked to me before, and he was willing to only buy the mini game IP plan, let me spin it off, and was willing to give me 2 billion. ”

Uncle Sheng knew about this, but he didn't know the result, and when he heard it at this time, his heart suddenly contracted violently! What is it? This thing is worth 2 billion?

As a result, Chu Yuanxi said: "But I can't sell it, you are in front, I have to listen to your opinion first." ”

Uncle Sheng's heart opened with a "bang", and he was simply stimulated, and his heart said What kind of crime have I suffered, come and listen to this kind of negotiation......

But Lao Fan was tepid: "At that time, your little game was not 'hard to explain', right?"

"I can't say that, Mr. Fan, the data of the mini game is still quite good compared to others, but the standard I set myself is too high. Besides, such a system can definitely consolidate the company's business, and the value is definitely there, but it is not as high as I thought at the beginning. ”

............

In the midst of a fierce bargaining, Uncle Sheng was eye-opening, and Chu Yuanxi kept emphasizing that 3 million DAU is not the upper limit of "Animal Company", because the Ba people did not buy directly the volume, all of them naturally attracted fans, and this game is actually better than the data shown.

And Lao Fan clearly pointed out that as a way to cultivate IP, the purchase volume is not good, and the plan for mini game IP is very bad. Although the bought players also play your game, they still have to rely on several waves of operation and conversion, and only after filtering out a large number of successful IP fans can they be left behind, which is far less than the players who are naturally absorbed, and it is easy to become IP fans.

But Chu Yuanxi put out the data again, 79% of the secondary retention, 48% of the weekly retention, no matter what, at least the foundation of "Animal Company" is proper, 10 million DAU before even if the purchase volume is definitely earned from the perspective of pure game operation, and this game alone can sell a lot of money, not to mention that it is linked to the IP of "Animal Company", and there will be Disney's blessing in the future.

Lao Fan is unmoved, the retention rate of IP fans is high, and mini games are very sensitive to retention, and it is normal to be a little higher.

In short, Chu Yuanxi bites a little, the value of the mini game IP plan lies in this set of mechanisms itself, not just to produce a few IPs suitable for games, and it is as simple as attracting gamers to join the fan book. Although Lao Fan recognized the value of this mechanism, what was his value? He was sure that Chu Yuanxi could not come up with an exact value model.

Unexpectedly, Chu Yuanxi smiled and threw out a set of data, "Have you ever considered the possibility that I will spin off Ba Ren Games separately to operate the listing of Xiangjiang? CMGE is about to ring the IPO bell in a week, and the issue price is expected to exceed 5.7 billion according to ¥, and the cornerstone investor group is extremely strong." You should know the profitability of CMGE, right?"

The situation of CMGE is public, and if you want to IPO, you must make a public prospectus, with a profit of more than 300 million last year, and it soared to 250 million in the first half of this year, which is slightly inferior to the income of the mobile game in the "Troubled Times" when it was engaged in activities, and this is not counting the agency share of the overseas part of the game.

But Uncle Sheng didn't know this kind of information, and when he heard it on the side, his ears immediately stood up, according to the profits and stock prices of the mobile game, the game should be worth at least 100 billion, I didn't say it!

What he does know is that receiving listing counseling, submitting prospectuses, running the IPO process, etc., have long been formalized, and there are specialized agencies to provide one-stop services. As long as the performance is there and the data is true and reliable, and the industry is fine, it is not a black industry or something like that, and it is crooked and cracked at first glance, and there is no problem on the Xiangjiang Exchange.

The self-media is a little worse, but there is nothing wrong with the game companies, and there are more mainland game companies listed in Xiangjiang! Yes? Why didn't Chu Yuanxi spin off and go public? Collectivization is a clever move!

I only heard Chu Yuanxi ask: "Why do you say that CMGE can get such a high release price of nearly 12 times PE? What is its advantage? or what is the lack of Baren Games compared with CMGE?"

Lao Fan's eyebrows were twisted into dead bumps, because he knew more than Uncle Sheng, and he understood. The so-called cornerstone investors are investors who admit to their accounts at the time of Heungjiang's IPO, promising to buy at the IPO price and then lock in, which is different from the listing underwriter system of China's large A-shares.

The Xiangjiang IPO does not have the myth of my big A-share new shares, and some of them broke on the same day. CMGE's investors are a number of trendy star companies, including China Literature Group, Kuaishou, and Bilibili, and these institutions can recognize their accounts, which shows that CMGE is indeed worth so much money.

In fact, the question asked by Chu Yuanxi has also been asked internally by Ali, but in a different form, that is, assuming that Baren Games now launches the Xiangjiang IPO, how much can the listing issue price be?

When Chu Yuanxi asked today, Lao Fan immediately hit the number, and the strength of CMGE is the shortcomings of Ba Ren games. CMGE has reserved a large number of super IP licenses, such as "One Piece", "Dragon Ball", "Naruto", "Dragon Family", "The Legend of Sword and Fairy", "Monopoly" and so on. At the same time, the product line is extremely rich, and the operation ability has been tested for a long time, and there are more than a dozen mobile game products with a life span of 3 years, and the product echelon with a monthly turnover of tens of millions, hundreds of millions, or even 200 million is complete.

This is the guarantee of long-term prosperity and the value of higher PE in the market. 12 times PE is indeed not low for game companies, but for the entire market, compared with other types of chemical, agricultural, automobile, electronics and even mobile phone industries, it can be said to be at the absolute bottom, even in the economic winter today. And the Ba people game does not have this kind of background.

But with such a high monthly turnover, why can't profits go up? Because the cost of buying volume swallows up most of the profits. This aspect is common among domestic game companies, and there is no abnormality in the purchase data of CMGE.

However, this is also the longboard of the Ba people's game, and the place where "Out of the Mountains" is against the sky is that it doesn't buy much. It's not that you don't buy it at all, but once the DAU falls below 35 million, you will buy a wave, and after rushing up, you will die down to maintain the best cost VS revenue cost performance.

Because of the high retention rate and the user's secondary forwarding and diffusion, the R&D cost and purchase volume account for half of the cost of the Ba people, and the R&D expenditure of more than 100 people is a drop in the bucket compared with hundreds of millions of dollars. This is actually Chu Yuanxi's order to rebuild the wheel of Ba Ren Games and add a lot of expenses after the media operation positions.

The information of Baren Game is the first-hand data obtained by Ali through many game channels, such as 360, Xiaomi, Blue-Green Manufacturers, etc., and it cannot be faked at all. So Lao Fan understood as soon as he heard it, the small game IP plan is a year and a half, and there is a good hope to make up for the shortcomings of the Shangba game, but it does not affect the longboard, and the listing value of the Naba game is different!

Today's negotiations are relatively smooth, which makes Lao Fan's brain doubly easy, and his brain is turning fast at this moment, which shows that the IP of Baren Games and the IP of game companies like CMGE are not the same IP. They are just called "IP", but the understanding of IP, the process and thinking of development, as well as the control and maintenance methods are completely different.

He is a big guy who is better at looking at the business world with an economic model, and these two IPs only consider economic status and financial model, showing the characteristic that other game companies are going to obtain IP licenses. Whether it is to buy a license or use a strong position to give a share of conditions, in short, it is a traditional way, and getting it is just to get a hot start, so they still have to buy volume after they have IP.

And Ba Ren is my own IP and then cultivate good fans, eat the entire IP chain, make full use of IP characteristics, as long as I do it, I can operate efficiently, and income is profit.

But what about finances aside? Why can traditional game companies only use IP popularity to make a hot start? This question Lao Fan thought about for three times but couldn't find an answer.

Furthermore, he once again expressed doubts about whether the IP plan of following the trend of a small game can achieve the same goal as Baren Games. If you can't answer the previous question, you can't help but doubt this question.

The speed of thinking is extremely fast, Lao Fan thinks a lot, but the time passes very shortly. And he didn't expect Uncle Sheng, who had been making background boards, to suddenly ask: "Why don't we spin off and go public? Even if we have a disadvantage, the price of the IPO of Ba Ren Games will not be less than 30 billion, right?"

This question of being at least two beats slower made Chu Yuanxi very helpless, "Uncle, Ali bought it, and it was cash, cash." Or stocks plus cash. ”

This is a reason, but it is clearly not a true answer. The real answer is, who will be the chairman of the board of directors of the Baren game? Zhao Jie? Zhao Jie is enough to be the CEO of a listed company, isn't it pure funny to be the chairman? Although the Baren Group can reduce its holdings one after another after the IPO, it can't let this company become a laughing stock. But the company has only the strength of the chairman, so don't do it!

However, his answer was so sincere that it made Lao Fan laugh, and after a while, he said: "I understand what you mean, you want to say that the Ba people game has genes, right? The question is, what are genes?"

"What are genes? I can do this, but you can't do it, and that's called genes. When you can do it too, you will be injected with this gene. ”

"Well, it makes sense, it makes sense!" Lao Fan finally realized that if he forcibly followed the trend and mechanically understood the mini game IP plan as model innovation, it was very likely that he would fall into the pit and continue to lose money.

This mechanism is a craft and a craft, but unfortunately there is no IOS certification standard, and it is not a random mobilization of a group of forces that can be saved, and it must be taught by a master to learn.

"So...... Mr. Chu, are you making an offer?"

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