After getting Zhang Yida's authorization, Lu Qi began the integration action, and first met with the shareholders of the two companies.

There are not many shareholders in Pindodo, except for Zhang Yida, there are only a few shareholders such as angel investor Sun Yutong, Black Shirt Capital, Zhenke Fund, and Penguin.

In addition to Zhang Yida, there are only four shareholders of Doushi: Ruixiang Industrial Fund, Huayi Capital, Black Shirt Capital, and Zhenke Fund.

The two investment institutions represented by Shen Beipeng and Xu Xiaoming have shares in both companies, so their palms and backs are meat, and they basically don't have much opinion.

Ren Yu is different, the penguin industry win-win fund he represents holds more than 20% of the shares in Pindodo.

Raising the valuation of the penguins and suppressing the valuation of the despise has become something that must be done to protect the rights and interests of penguins.

Ren Yu said with a smile: "Compared with 7 months ago, the data and indicators of Pindoduo have improved by leaps and bounds, and it is impossible to calculate it according to the valuation of 4.2 billion US dollars in February, right?"

Lu Qi nodded, "We have taken this into account, at that time, the pre-investment valuation of Pindodo was 3.3 billion US dollars, and the valuation basis was based on 13 billion GMV and the VAM agreement in 10 months. ”

Turning his head to look at Ren Yu, "The VAM agreement requires that the annual target of 36 billion GMV should be completed in the next year, that is, by February 2017." ”

"That's right, that's what the protocol is. ”

"In fact, without signing such an agreement, we would not have been able to value an e-commerce company that has only been around for a year at $3.3 billion," Ren said.

At that time, when I signed this agreement, I was also under a lot of pressure. Including the outside world, some people laugh at us penguins for being a cater. ”

Speaking of this, Ren Yu paused and smiled, "But now these people have shut up, and they have responded to them with practical actions."

From February to now, in 7 months, the monthly GMV has doubled, from 3 billion to 6 billion, and the cumulative GMV in 7 months has reached 30.5 billion.

I think we can almost throw in the towel with the VAM agreement. ”

"Mr. Ren, what do you mean...... Do you want to submit the delivery of shares and give incentives to the management team?" asked Lu Qi.

Ren Yu said with a smile: "The goal of 54 billion, I estimate that I don't have to wait for 5 months, it may be completed in 3 months."

Equity incentives can be settled early, but the valuation of the spell must be recalculated. ”

Lu Qi asked quietly: "How much does Mr. Ren think should be valued at present?"

"At present, the GMV of Pindodole has reached 6 billion yuan in a single month, and according to its growth rate, we infer that the GMV should reach more than 100 billion yuan in the next year.

The valuation is set at 60 billion yuan, equivalent to 9.1 billion US dollars. ”

Lan Lan coughed and said: "Doushi currently has 100 million daily active users in China, and there are 50 million daily active users in North America and Europe combined.

Based on a user valuation of $100, the valuation should reach $15 billion. ”

Ruixiang Industrial Investment Fund is a shareholder of Doushi, and Lan Lan saw Ren Yu coaxing the valuation of Doudo, so he naturally had to help Doushi speak.

It's nothing else, it's just a different position!

Shen Beipeng and Xu Xiaoming didn't speak, and their shares in Doushi were only 1.43%, while in Pindodo, their shares were 4.71% and 3.14% respectively.

From the perspective of maximizing profits, it should still be biased towards more shares.

Without waiting for the two of them to speak, Ren Yu said again: "The Shake Bubble is too big, and there are only users but no revenue and business monetization capabilities."

What about 150 million daily active users? The number of users alone cannot support a valuation of $15 billion.

15 billion US dollars, which is 100 billion yuan in RMB. To reach this level, the company's annual revenue must be at least 10 billion yuan, and the net profit will be 2 or 3 billion yuan. ”

Lei Dongming spoke, and he said: "After in-depth understanding of Shake Vision, you will find that this is a very addictive software.

With 150 million daily active users worldwide and a high average time spent by users, this is a gold mine that has not yet been tapped.

Once commercialization begins, advertising, live broadcasting, e-commerce and other businesses contribute tens of billions of revenues, and there is no pressure at all. ”

Ren Yu smiled and shook his head, "Penguin also had hundreds of millions of users back then, but there was no revenue, and I almost couldn't hold on."

Shake the eyes said no matter how fanciful it was, but it didn't prove itself. $15 billion is not a small number, in fact, $7 billion is an overestimate for me.

Kuaishou also raised a round of financing half a year ago, and the valuation was only $2 billion. Moreover, Kuaishou was established several years earlier than Doushi, and there is also a live broadcast business that contributes to revenue. ”

"Doushi is about to start commercialization in the near future, and will launch a "short video + live broadcast" software, and after the merger with Pindodo, it will also wade into the live broadcast e-commerce business.

In the past, it was not commercialized because it had not yet laid a solid foundation.

And now, the number of daily active users in China has exceeded 100 million, and the fruit has slowly ripen and is ready to be picked. ”

After Lu Qi finished speaking, he began to talk about Pindodo, he said: "Pindodo is unbeatable in the field of social e-commerce, and the results are indeed very good.

But sooner or later it will hit the ceiling!

Now that live e-commerce and Internet celebrity e-commerce have become popular, I think this is a new outlet.

After Pindodo and Doushi are integrated, the business complements each other, Doushi creates a traffic matrix, and Pindododa provides an e-commerce matrix.

While improving the monetization ability, Doushi also provides a new incremental market for Pindodo. The ultimate beneficiary is Zhonghe Group, which has merged the two companies into one, and is also the shareholder.

So, I don't think we should dwell on the slightest bit of immediate interest.

Let's take a long-term view, shake our eyes and fight together, and it will definitely play the effect of one plus one is greater than two. ”

"Mr. Lu, that's true, but I still think that the valuation of Doushi is too high. ”

Lan Lan glanced at Ren Yu and said, "I still think that the valuation of Pindodo is too high?"

Lu Qi smiled bitterly, it is really difficult to integrate the company. This is still a perception and contradiction at the shareholder level, and when it comes to the business level, I don't know how many difficulties are waiting for me?

However, since I have taken up this position, I have to shoulder the responsibility. No matter how many difficulties there are, you have to overcome them one by one.

Lu Qi began to comfort a few parties again.

......

"Xiaohui, it seems that Gaomeng APP has stopped the promotion of merchant account opening for Mobao Payment, what have you been doing recently?"

In the women's dormitory of Jizhou University, roommate Yuan Yuan in the same dormitory was asking Chen Xiaohui.

Maybe it can't be called round anymore, this girl's face is no longer round, and it has become the common Internet celebrity face with a pointed chin.

glanced at her roommate Yuanyuan, thinking that this roommate is usually quite good, Chen Xiaohui said: "I'm playing with short videos on Douyin."

Have you ever heard of it? A short video platform is much more interesting than Weibo or something.

As long as you insist on posting videos, you will definitely be able to slowly become popular, and slowly your fans will increase. ”

"What's the use of having more fans? That jitter is just an empty shelf, there is no reward, and the platform does not pay salaries. It's a pure waste of time. ”

A yin and yang weird voice came, it was Tian Tian, Chen Xiaohui's other roommate.

"Huh!"

Chen Xiaohui was already unhappy with this sweetness, and said mockingly: "Lonely and unheard! Do you know what kind of activity has been launched on the Doushi platform?"

As long as the number of likes or playbacks of the short video you send reaches a certain standard, cash rewards will be issued. ”

"How much money can I have?"

Tian Tian rolled her eyes, "I broadcast live on the cucumber live broadcast platform once, and I can receive gifts of tens of thousands of yuan in one night." ”

Chen Xiaohui didn't bother to take care of this stupid woman, just do her own thing.

"Xiaohui, can you really make money by making short videos on Douyin? I have made some short videos on Toutiao Video before, and the so-called "billion creation subsidy" is simply a cover.

Don't give money, it's all some traffic promotion resources worth 10,000 yuan or 8,000 yuan. ”

Yuan Yuan flattered: "Can you teach me how to shoot short videos on Douyin?"

Chen Xiaohui smiled: "This is simple, you can either appear on your own, sing or dance."

Or just sort out some movie clips and do movie commentary. Or you get the charts, what song charts, Hong Kong and Taiwan female star beauty charts......"

Chen Xiaohui shared her experience very patiently, and Yuanyuan listened very carefully, and it could be seen that she wanted to shoot a short video very much, or make money.

After a while, Chen Xiaohui went out to class.

"Yuanyuan, what are you asking her for? Didn't I tell you? You signed a contract with Cucumber Live, and it was easy to earn 10,000 or 20,000 yuan a night. ”

Tian Tian said while applying nail polish.

Yuan Yuan shook his head, "No, in front of so many people...... I can't do it. ”

"Hehe, have you thought about it? You now have to pay off thousands of yuan of medical beauty installment loans every month, how can you pay it back?" Tian Tian sneered.

Yuanyuan pinched the corners of his clothes and whispered, "I'll go out to work part-time and pay it back slowly!"

"How much do you make by working part-time as a flyer? Eighty or a hundred a day? Besides, do you have that much time?

I'm telling you, if you can't repay the loan, those people will do anything, not bomb your phone address book and ruin your reputation;

It's to pull you to the bar to accompany the wine and be a KTV princess......"

The more Yuan Yuan listened, the more frightened he became, and the whole person was about to cry, begging: "Tiantian, can you help me?"

"How can I help? You can only save yourself. If you go to the live broadcast for half a month, you can basically pay off the loan. Patience is over. ”

Yuan Yuan bit his lower lip, "But...... What if someone else takes a screenshot and uploads it online?"

"You wear a mask! As long as you can't see your face, who can recognize your body alone?"

Yuan Yuan shook his head vigorously, "No, if people know, my life will be over." ”

"Hey, you stupid girl! What age is this, why are you still so old-fashioned?

Look at Li Lizhen, Shu Qi, and Tang Wei, which one is not getting more and more popular?

In this world, laughing at poverty and not prostitution!"

Yuan Yuan completely collapsed, wiped his tears, and said: "That hospital and loan company are all in the same group, I just wanted to do a double eyelid surgery, but they insisted on letting me pad my nose and get hyaluronic acid......

I said I didn't have any money, so they asked me to take out a loan. I did the math, and the annual interest rate of that loan was more than 70%. ”

A trace of unbearability flashed in Tiantian's eyes, Yuanyuan has today, and she also has a share of credit.

She also has no choice, if she wants to keep her face from deforming, she has to use hyaluronic acid for a long time.

Her godfather doesn't want her anymore, saying that she is not pure and natural, and she is getting uglier and uglier.

She has no choice but to earn a little commission from her good sister to maintain a decent living.

"Hey, don't cry, you can come with me to my rental house tonight! ”