"Yida, meet again!"

Ren Yu of Penguin Industrial Investment Fund greeted Zhang Yida with a smile.

"Yo, Brother Ren, please take a seat. Your guests are here!"

Zhang Yida thought it was just a joke with Bonyma, but he didn't expect to really send Ren Yu.

"Yida, Mr. Ma told you about WeChat Jiugongge!

We are here with sincerity this time, and we will definitely give Huimin Bicycle the best cooperation price. ”

Ren Yu's words made Zhang Yida very suspicious, when did the penguins become so kind and send warmth to the poor entrepreneurs?

Zhang Yida thought about it, there is only one possibility, the penguin sees that the market pattern of shared bicycles has become clear, and he is ready to bet on Huimin Bicycle, which has the greatest chance of winning.

Zhang Yida's speculation is very close to the truth.

Before Ren Yu left, Bonima advised: "Old Ren! The pattern of shared bicycles has basically been decided, and Huimin bicycles are the most kingly."

Yong'an Xing belongs to Ahri, and Didi itself is still fighting with Uber, and he can't take care of Xiaolan Bicycle.

You go and talk to Zhang Yida, and the cooperation will be finalized if the price is right!

Jiugongge is also idle, so it is better to exchange it for some shares.

Our stake in Huimin Travel is too small, less than 5 points.

This time, we will be sure to increase our stake to more than 5%.

In addition, shared bicycles are destined to become a huge traffic entrance, embedded in WeChat, and can also share some traffic. ”

"How much is the deal? 500 million dollars in 5 years, don't come. Ruixiang is still criticized by other shareholders. ”

After Ruixiang is connected to the penguin nine-square grid, the drainage effect is still there, but because of the large volume of Ruixiang, the effect is becoming less and less obvious.

Zhang Yida can be seen clearly, access to the nine-square grid, the smaller the enterprise, the more cost-effective, there are not many overlapping users.

"Ahem!" Ren Yu laughed dryly twice, and then said, "That...... This time there is a discount, 5% off, 250 million US dollars. ”

"It's too expensive! We're all small businesses, and we can't afford to charge such an expensive service. ”

Zhang Yida pretended to be indifferent, but in fact, he was very worried about this nine-square grid.

Yong'an Xing is going to be on the shelf APP, at this time, Huimin Bicycle must find Penguin cooperation!

It's not that he's afraid of Ahri, the business model of sharing bicycles is mainly not to hold Yongan to death.

Don't scrap other bicycles, keep fighting a price war with you, disgusting to death.

Therefore, Zhang Yida does not want to miss all the cooperation that is conducive to Huimin Bicycle.

Ren Yuxin said, you are still a small business, and the valuation of Huimin Travel Group is almost 4 billion US dollars!

When Penguin first went public, its market capitalization was not as high as your valuation.

It is rumored that Huimin is valued at more than $5 billion, but Penguin, as a shareholder, is very clear, even if it acquires Baymore, the valuation has only climbed to $3.86 billion.

Ren Yu shook his head and smiled: "This is not really asking you to pay for it." The nine-square grid is for you to use, and Huimin can issue another part of the shares. ”

"How much? It's too much, and I'm not sure I'm going to convince the other shareholders. ”

Zhang Yida does not exclude the issuance of additional shares, after all, the company does not have to pay real money, and the value of the company's internal friction has also increased.

Although the shares are diluted, the valuation has also gone up.

The most important thing is to borrow the power of penguins to quickly defeat all competitors.

"Let's issue an additional $250 million in shares, so that the valuation of Huimin Travel will exceed $4 billion. ”

"Less than five years, sign for three years! An additional $140 million in shares will be issued, and the valuation will just reach $4 billion. ”

Zhang Yida will not sign a cooperation agreement as long as 5 years, in fact, in a year or two, the bike-sharing market can also be divided into winners and losers.

However, if the signature is too short, the penguin will definitely not agree.

"Okay, let's just decide! Notify the other shareholders and convene a board meeting!"

After a little consideration, Ren Yu agreed to Zhang Yida's conditions, and the discount was only 10 million US dollars, which was not too much.

Then, Huimin Travel Group held a board meeting, at which the topic of "Penguin Resources for Shares" was raised.

After a brief discussion, the resolution was quickly adopted.

Huimin issued an additional $140 million of shares to Penguin at a pre-investment valuation of US$3.86 billion.

The latter's stake ratio increased from 4.33% to 7.68%, and Zhang Yida's stake was diluted to 35.74%.

What is announced to the outside world is that Penguin has made a strategic investment of hundreds of millions of dollars in Huimin Travel Group.

The media shouted: Huimin Travel has become an emotionless financing machine.

At the same time, it also brought more pressure to Xiaolan Bicycle and Yong'an Xing.

Huimin Travel Group is not short of funds, resources, and flow...... There is nothing missing, as long as you don't make mistakes, I'm afraid you won't be able to catch up with others for the rest of your life.

……

Pindoduo also launched a second round of financing, and the participants are also Zhang Yida's old friends Shen Beipeng and Xu Xiaoming.

"Since its operation in April, the GMV has exceeded 3 billion yuan in four months, and the GMV has exceeded 1 billion yuan in a single month.

According to the GMV valuation method, the P/GMV (market capitalization/trading turnover) value of Ahri and Goudong listed is 0.6.

Based on this, it is inferred that the pre-investment valuation of Pindodole is US$900 million......"

Zhang Yida was still introducing, Xu Xiaoming interrupted him, and said: "OK, the valuation of 900 million US dollars is right!

Shen Beipeng also spoke, he said: "The angel round of financing is only 200 million US dollars, which has risen several times. If you don't get on the bus early, you can't afford it! If it's too late, I'm afraid you won't be able to afford it. ”

Now Xu Xiaoming and Shen Beipeng have a mysterious trust in Zhang Yida, and they have never missed so many projects.

Now that Pindodo is supported by transaction data, there is basically no deviation in the valuation, and they are not even ready to pay back the price.

Zhang Yida said: "Just raise 100 million US dollars, put it together, and just become a unicorn." Let's discuss the share!"

"It's only 10%?Yida, this is not like your style. ”

Shen Beipeng was a little too little, and asked jokingly.

"E-commerce is a money-burning product, and at least three or four rounds of financing will have to be carried out later.

Therefore, the financing share will not be released too much in each round. ”

Zhang Yida knew that in his previous life, Huang Zhen still held more than 40% and close to 50% of the shares after he was listed in Pindodo.

The reason why so many shares can be retained, in addition to the fast development of Pindodo and the fast enough rise in valuation, there is also the reason why Huang Zhen himself has a certain net worth.

Of course, the biggest reason is that Huang Zhenhuo has a good grasp of it, and every round of financing is just right.

This is just right, which means that the share released in each round of financing is just right, no more and no less. More weakening of the founder's shares, less impact on the speed of enterprise development.

Shen Beipeng saw that Zhang Yida was resolute and didn't do much persuasion, turned his head to look at Xu Xiaoming, and said with a smile: "Old Xu, it's still the old rules, two or eight points." ”

Xu Xiaoming's head was plucked like a rattle and said, "No, I will be taken advantage of by you every time." This time you let me once, I'll be eight and you two. ”

"Yo, I heard that the first phase of the new fund has been raised, is this wide?"

Shen Beipeng joked that he is different from Xu Xiaoming, Black Shirt Capital is headquartered in the United States, and has been engaged in venture capital since the 70s.

Zhenke Fund is different, which is equivalent to Xu Xiaoming's own entrepreneurship.

In the early days, Xu Xiaoming, in addition to investing by himself and Wang Qiang, took a few friends who were doing business to invest.

Their money is not less than that of ordinary people. But in the venture capital industry, it is a drop in the ocean.

In addition, Blackshirt Capital is also the LP of Zhenke Fund and has invested a lot of money in the latter.

"Yes, Lao Tzu is wide now. I'm not going to follow you as a little brother. I'm going to be the big brother this time. ”

Xu Xiaoming is now "shaking", he used to cast Chen Ou, and he could brag to others for a long time.

Now that Zhang Yida is on target, it won't be able to blow it for three days and three nights!

With the performance support of Zhenke Fund, financing is getting smoother and smoother. Xu Xiaoming's shots are also getting more and more generous.

I used to invest in angel investment, hundreds of thousands and millions of dollars. When encountering tens of millions of big projects, he has to pull on a black shirt, and Guangzhenke can't eat it.

The purpose of this is also to diversify investment and diversify the investment logic of risk.

But now it's different, Xu Xiaoming, who is "rich", dares to invest in big projects alone.

Shen Beipeng waved his hand and said, "Okay, okay! This time, six or four points, give you 40% of the share, it's all right!"

"Okay, that's what you said!

Xu Xiaoming originally only planned to fight with his mouth, but he didn't expect that Shen Beipeng was really willing to release more shares to himself. Hurriedly nodded in agreement.

The $60 million round of financing led by Blackshirt Capital and followed by Zhenke Fund with $40 million, with a total of $100 million in Series A financing, was negotiated.

The shares of Pindodo were changed to:

Zhang Yida: 77.76%

Option Pool: 8.64%

Sun Yutong: 3.6%

Blackshirt Capital: 6%

Zhenke Fund: 4%

It is better to be raw than cooked, and the cooperation between Shen Beipeng and Xu Xiaoming and Zhang Yida has always been relatively pleasant.

So whenever Zhang Yida has a new project financing, he is always the first to call the two of them.

Another example is this spelling dodole financing, both parties know the roots, Zhang Yida mentioned a valuation of 900 million US dollars, and the other party did not even pay back the price.

The communication cost is very low, the work efficiency is very high, and the A round of financing is quickly finalized.

After obtaining the A round of financing, Pindoduo continued to spend money on marketing and promotion.

In addition to Ruixiang, Huimin Bicycle, Yimin Net Gold...... In addition to waiting for friends to provide a batch of shopping coupons, there is also to continue to adhere to the strategy of "fighting the factory".

Create high-quality and inexpensive popular products, and attract users through popular products.

Then, according to the activity of each user, the corresponding shopping voucher will be issued to promote the activity.

In addition to group shopping, Pinduoduo has launched a "bargaining game".

Users can share the shopping page to major social software, invite multiple friends to bargain for themselves, and receive pots and pans, paper towels, and laundry detergent for free......

Although some users are disgusted with this marketing model, they like it even more.

After all, you can buy things for free with a touch of fingers and a little bit of personal connection.

For a while, social platforms such as WeChat were made into a miasma, and the whole network was attracted by various hot spots and crazy promotion models.

Someone posted a joke: "Are you here, can you help me cut a knife?"

This sentence can be called the touchstone of friendship. A kindergarten classmate I haven't contacted for many years suddenly added my WeChat, and the first sentence I said was this. ”

The sentence is also accompanied by a "dog head" emoji.

Some people also commented: "What are you? My ex-girlfriend who broke up for three years suddenly asked me "Are you there?"

I thought she wanted to get back together with me, and she was trying to reject her on what basis without hurting her self-esteem.

Before I could finish thinking about it, she sent me a link to the spelling and said, "Can you help me cut it?"

I was so damn I had a brain congestion. replied to her: Please be a person!"