"This is the revenue statement of Doushi and Y from April 2017 to April 2018, excluding Kuaishou and Hongshu, which were acquired later.

With a revenue of 26.2 billion yuan, shouldn't you settle the accounts?"

Zhang Yida joked while asking the secretary to send the revenue statement to the investors present.

Son, who was not present in person, was represented by SoftBank China's Xue Cunhe.

Xue Cunhe took the document and looked through it carefully.

In fact, Zhonghe Group's B round of financing is aimed at Penguin and four other investment institutions.

SoftBank took over the equity of Penguin, which is equivalent to taking over all the responsibilities and obligations.

Zhang Yida guessed that SoftBank would not be so stupid, would it have suffered for Penguin? There should be a supplementary agreement, and these big investment institutions are more shrewd than the other.

Zhang Liping, chairman of Blackstone Greater China, looked at the report in his hand, turned his head and asked Zhang Yida: "95% of the revenue is contributed by Doushi, and Y is less than 5%?"

Zhang Yida nodded, "After all, the market is in China, and the business environment is more familiar, contributing 24.9 billion yuan in revenue;

In addition to being unfamiliar with the business environment, we also want to wait a little longer and seek commercial realization when the market position is more stable.

After all, as soon as it is advertised, the user experience is poor, not to mention that there are several opponents who imitate and follow the trend.

Y won't give them any chance.

Y's current revenue mainly comes from in-app purchases, a virtual currency that needs to be purchased and can be used for anchor tipping.

In the future, advertising and e-commerce will gradually begin to explore. ”

Bao Zheyu, the head of BlackRock Asia Pacific, scolded in his heart, but said with a smile on his face: "Okay, the business monetization ability of Doushi surprised me so much, it can even be called a surprise." ”

When Zhang Yida got the report, he was actually a little surprised, and he basically determined that the bet was stable two months ago.

But it's not possible to speculate on how much equity to win. The revenue of 26.2 billion is more than 3 billion higher than the estimated 23.1 billion last year, how not to make people happy.

Dongfang Yu's expression was indifferent, "Yida, how much equity are we going to lose to you and the management? ”

Ma Dongmin himself was not present in person, and Qiandu is now a little frictional with Zhonghe, and it is a man in a suit in his thirties who attended the meeting on her behalf.

The man's name is Pump Lam, a native of Hong Kong, born in an investment bank, and proficient in asset management.

This pump is not muddy at all, and after getting the report, I buried my head in calculating it.

At this time, he picked up a piece of manuscript paper and read: "According to the signed VAM agreement, the revenue of 26.2 billion yuan exceeded the revenue of 20 billion yuan, and the valuation rose by 6 billion US dollars.

In other words, the valuation of Shake and Y is $31 billion, and the valuation of Zhonghe Group after the post-Series B revaluation is $46 billion.

In the B round of financing, our five-party investment institutions invested $4.5 billion and obtained 11.25% equity.

If the valuation is recalculated based on $46 billion post-investment, the corrected equity ratio should be 9.78%.

Our five-party investment institutions lost a total of 1.47% of the shares to the founders and management.

At the same time, according to the supplementary agreement, these shares are to be diluted in equal proportion with the subsequent financing.

Zhonghe later acquired Kuaishou and Hongshu, and accepted the copyrights and cash shares of the three major record companies.

The 1.47% stake is currently diluted to just 1.36%.

According to the amount of financing, the responsibility of the penguin side is transferred to SoftBank, which assumes 55.56% of the 1.36% equity;

Blackstone and BlackRock each contribute 17.78 per cent, and we and Mr. Dongfang Yu each contribute 4.44 per cent. ”

Zhang Yida has already calculated in advance, and it is indeed this number, which is not bad at all.

So he smiled and praised: "Mr. Pump is so calculating!"

Pump smiled faintly, "These promises should be fulfilled, we should naturally fulfill the school."

However, the revenue statements of Doushi and Y need to be reviewed by our five investment institutions. ”

Zhang Yida nodded, "This is the way it should be!"

glanced at everyone again, "The merger of Ruixiang and Zhonghe is about to be completed, let's implement this matter first, so as not to be confused." ”

Several investors nodded, but their faces were not very good-looking.

Especially Bao Zheyu, he glanced at Zhang Liping very unhappily.

The bet was first proposed by this idiot, and then everyone jumped into the pit with it.

Feeling Bao Zheyu's eyes, Zhang Liping shrugged his shoulders and said that he was very innocent.

Besides, weren't you very confident at that time? and took the initiative to magnify the bet.

Now that you lose, you blame me alone?

Dongfang Yu's face was full of smiles, anyway, he didn't have many shares, and if he lost a little equity, he didn't take it to heart.

The key is that Shake Vision has proved its commercial monetization ability, and the valuation may rise like a rocket in the future.

Ruixiang will also merge with Zhonghe, and I am afraid that it will firmly sit in the position of the third largest Internet company at that time.

He regretted it a little at the moment, was the $200 million investment too little?

Xu Ming often played in front of him, how he was discerning, and he hit Zhang Yida.

Now that he is also a shareholder, it will be up to him to pretend to be forced when the time comes.

It's just that compared with Zhenke Fund, its own shares are indeed much less, and the financing round is also late.

The rate of return is definitely not as good as Xu Ming.

He also glanced at the pump forest, guessing that Ma Dongmin was also afraid of embarrassment if he didn't come!

After all, his husband's third place in the Internet won't last long.

Once Ruixiang and Zhonghe merge, from revenue to profit, to valuation, and even ecological layout, industrial influence will be crushed in all aspects.

In the past, it was not someone Di Di, Leech Jinfu, Rice, and Dog Dong have surpassed a thousand degrees.

But that kind of transcendence is only a transcendence in valuation, and the influence, actual revenue, etc. are still a little worse.

After the emergence of a new group formed by the merger of Ruixiang and Zhonghe, it is basically possible to stop the debate.

At that time, if it is rumored that the Robin Lee family office has invested in Zhonghe Group, it will be lively.

Ma Dongmin may have expected the consequences now, so he had to keep a low profile.

"What's the name of the new group?"

Seeing Dongfang Yu's question, other shareholders also looked at Zhang Yida, and they also wanted to know the answer.

"How about learning magnesium groups, how about calling them cutting-edge people?"

Dongfang Yu shook his head, "It's not good, and it's not conducive to brand communication, if you want me, let's call it Ruixiang Group!"

Ruixiang has been established for a longer time, and Zhonghe Group is also put together on the basis of Pindodo and Doushi, which is still short and the brand awareness is not as good as Ruixiang.

And both companies are under your control, so you don't need to learn from the magnesium group and 58 them, and give the acquired company a face. ”

Don't, Dongfang Yu still has some insights in what he said.

Ruixiang is Zhang Yida's first company, which can be called the place where his dream set sail, and he still wants to keep this brand.

"That's okay, just listen to Senior Brother!"

Dongfang Yu smiled faintly, no longer talking, with a masterful demeanor, hiding his merits and fame.