To put it bluntly, it all depends on fate, for entrepreneurs, looking for investors is like looking for a partner, paying attention to the same three views and matching temperament.

When they meet for the first time, both sides look at each other and recognize each other in order to look forward to the future for a long time.

The tall international big-name funds are like Bai Fumei, who is not eager to go, but people have high vision and strict conditions, and they sign various priority rights and Jinglun terms with you before marriage, even if you divorce later, you will not enjoy any benefits.

Before getting married, Bai Fumei's suitors lined up from Xierqi to Zhongguancun, wanting the goddess to give you more attention and resources?

I'm sorry, sister doesn't have that much energy!

Unless you're really a handsome guy with a unicorn temperament, and you're not clingy, but that may be after the B or C round......

Stay up!

Shen Feng stood by the window, looking at the busy capital, although he had a golden finger, the future was still unknown.

With two mountains on their heads, Alibaba and Tencent have a market value of more than $550 billion, plus companies that are directly and indirectly controlled, a behemoth of 4 trillion yuan.

Then there is Meituan, with a market value of 90 billion US dollars, and it is also a unicorn at the level of 100 billion, far exceeding Baidu's 40 billion, becoming the third largest giant.

It can be said that as long as any company has a valuation of more than one billion US dollars, it will inevitably be related to the two giants.

or cooperate,

or a competitor,

There is no third way!

Over the past decade, Tencent has invested in more than 700 companies, 63 of which have gone public, and 122 have a market capitalization or valuation of more than US$1 billion.

The assets invested in Ali Strategy have been worth hundreds of billions of dollars.

There is even a saying in the circle: To achieve a certain scale, an enterprise must learn a compulsory course, that is, how to kneel and lick rich dads!

From another point of view, excellent Internet startups are prey to a certain extent, and the two giants have abundant capital and resources, and they hunt and eat each other.

At the time of Didi's merger, their respective management called Tencent's Martin Lau and Alibaba's Tsai Chongxin in two rooms to report the progress of the negotiations.

AT is like a god in the sky, and the gods are watching the war on earth!

The travel market Didi and Kuaidi once spent billions of yuan to fight,

In the field of local life, Tencent-supported Xinmeida and Ali-supported Ele.me + word-of-mouth have been fighting for a long time.

In the social field, Weibo and Momo used to be important tools for Ali to curb WeChat.

In order to prevent the other party from meddling, exclusive agreements and one-vote vetoes become routine operations.

As a result, Alibaba and Tencent rarely appear on the board of the same Internet company.

When qualified to stand in line, the founder must choose one of them, and how to choose between them is really a science.

Shen Feng sighed, as a trillion-dollar boss who has not yet grown up, sooner or later he will have to face the same choice. Internet traffic entrepreneurship is the path that I will unswervingly take, which is the trend of the times.

Fortunately, the college time has not been wasted, although it is not from a prestigious school, but the foundation is quite solid, but the horizons and insights have not been opened.

So I'm very interested in the gossip and rumors in the circle, although it's just a peek at the leopard, but everything is windless and no waves, and you can see a little bit behind it.

In 14 years, WeChat expanded frantically with the help of Didi, and Ali supported it quickly to start a subsidy war that cost more than one billion, and when the two sides fought to the most intense, Cheng Wei said that Didi burned 200 million yuan in a month, and his hands were shaking when he signed the order.

Around the Spring Festival this year, SoftBank plans to invest in a lot of cars, which is the parent company of Guazi second-hand cars.

The news broke that the founder of another second-hand car platform in China went to Ali's headquarters and asked CEO Xiaoyaozi for help.

On the track of this model, Tencent has bet on Renren Car and melon seeds, although Ali is cautious, but also invests in Souche, there are dates or not, first play two shots.

Corporate Venture Capital Fund, abbreviated as CVC.

For giants like Alibaba and Tencent, their own revenue data is excellent and their cash flow is abundant, so their financing ability is much higher than that of ordinary VCs, and their names are all with an extra capital C!

There is only one principle:

Rather kill the wrong,

Don't let it go!

The killer feature is to lead the investment, and even experts in the circle can judge the status of a certain project in the hearts of both parties by whether the two companies lead the investment.

The benefits are very obvious, the first contract is written by you, and what is agreed upon is definitely the most beneficial for you.

You can set the second price, and those who want to enter later must come at your price.

Third, you have a board seat and have more control over the company after the investment.

The consumer Internet field believes in the rule of 28, the first place in the industry usually has 80% of the market share, and the second place is only about 20%, and the players behind basically have no chance.

The competition has always been with me without you, and it is strictly guarded. After leading the vote, the usual weapons are an exclusivity agreement and a veto.

Of course, the two giants also have eyes to see, 16 years Tencent led the investment in Xiaohongshu's B round, and internally evaluated it as a simple community.

At that time, I didn't figure out the model of content e-commerce, so when signing the investment terms, I didn't ask for a veto?

The lack of veto power gives Ali the opportunity to find and dig treasures, because Zhihu and Xiaohongshu are Tencent's layout in the community field, and they have a large amount of high-quality content that needs to be accumulated for a long time, and the moat with high barriers is high.

Content diversion has proven to be an important way to acquire traffic, so Taobao has paid great attention to content in recent years and is very eager for the top content community.

So Ali took advantage of the trend, desperately hooked up with Xiaohongshu, and finally announced in 18 that it had received $300 million in financing led by Alibaba, becoming one of the very few Internet companies that collected both Tencent and Alibaba's investment.

Bai Fumei successfully split two big guys!

In Shen Feng's view, the more high-quality projects in the future, the more difficult it is for the two sides to come together.

After Cheng Wei asked Tencent to lead Didi's B round of financing, Didi angel investor Wang Gang returned to West Lake overnight from Beijing, fed back the decision to Ali, knelt down and begged the other party to agree, and only after several twists and turns did he get tacit approval.

In all fairness, I appreciate the penguin's style more, low-key and not strong. Just look at the styles of the two founders of Ma Tengfei and Ma Yun, the old horse can't wait to pretend to be forced everywhere all day long, when did the pony take the initiative to speak?

Make a fortune with a muffled voice!

Specializing in the analysis of two different roles, Ali is a traffic consumer, belongs to the monetization side, and is a strategic investor who monopolizes resources.

I hope that everyone will hand over the traffic and monetize it on the Ali platform, and I don't want the invested companies to go to places like Pinduoduo to monetize.

It's like the sun, wanting to suck everything in and make it its own.

As long as it is an acquired project, the team can stay, the project can continue, and the policy can be maintained, with only one condition......

The founders must fuck off!