Joy Capital soon reached a Series A financing intention with Happy Capital, which invested $30 million, accounting for 30% of the shares, at a post-investment valuation of $100 million.

At the same time, it is also necessary to sign a harsh VAM agreement so that the interests of Happy Capital are guaranteed.

"In the next year, Baymore Bike guarantees that there will be no less than 2 million registered users, or enter the next round of financing within one year, and the valuation will not be less than 300 million US dollars......"

Fu Weiwei frowned when she saw the VAM agreement, the registered user data increased by 20 times, and the valuation increased by 3 times within a year.

It's too harsh!

But Fu Weiwei thought that after successfully raising $30 million, was she still afraid that she would not be able to achieve this performance?

Huimin Bicycle financed 50 million US dollars to build 100,000 bicycles, and Baimo can build 60,000 bicycles according to this ratio.

Together with the 10,000 bicycles we already own, we have a total of 70,000 bicycles. In one year, 2 million registered users and a valuation of 300 million US dollars were completed. It shouldn't be a big problem.

She then looked down:

"If the VAM target is not achieved, the management will transfer 30% of the shares to the investor free of charge as compensation;

The VAM target is achieved, and the investor transfers 10% of the shares to the management free of charge as an incentive ......"

"Mr. Liu, this bet is a bit unfair! If you lose, you will lose 30% of the shares, and if you win, you will get 10% of the shares. ”

Fu Weiwei raised her head, looked at Liu Dahai with some playfulness, and said.

"Hehe! It's not fair! If you don't achieve the goal, you lose the bet, and I take the 30% of the shares you transferred, and it has no value at all.

At that point, Baimo is basically useless. Maybe the selling point scrapped bicycle can also recoup some losses. But what's the use?

If you achieve your goal, transferring 10% of the shares to you is the limit, and it is impossible to let the management work in vain, right?"

Liu Dahai spread his hands and said that he was completely following the rules. Now investing in Baimo, it is still such a large amount, it is a huge risk.

Fu Weiwei was a little helpless, now it is a buyer's market, and the seller of Baimo is completely passive.

However, thinking that he could get 30 million US dollars immediately, the development of Baimo would be able to rise to a big level, Fu Weiwei was very moved, and after discussing it with Li Bing, she still agreed to Liu Dahai's gambling conditions.

In this way, the initialing of the contract, due diligence, and payment, it only took one week for Baymore Bicycle to quickly complete the A round of financing of 30 million US dollars.

……

Baymore completed a $30 million Series A financing with a valuation of over 100 million yuan, becoming the second company in the bike-sharing industry to complete independent financing. ”

Zhang Yida looked at the news and frowned. As expected, Baimo has become a big rival of Huimin Bicycle.

"Mr. Hou, do you have any detailed movements over there?" Zhang Yida looked at Hou Jiaji, the director of business intelligence standing in front of him, and asked with a smile.

"Didn't Baymore just complete a $30 million Series A financing? Our department has investigated, and the data is true, but it is said that there is a VAM agreement.

The specifics of the agreement are not clear.

In addition, after completing the financing, Baymore invested 60 million yuan to the foundry, preparing to produce 60,000 bicycles.

Of the 60,000 bicycles, 30,000 flowed into the magic capital, and the other 30,000 were put into Beijing, Pengcheng, and Yangcheng. ”

Huimin Bicycle operates four first-tier cities, and Baimo also follows the layout of four cities. Zhang Yida thought.

"Good work, this information is very useful. Continue to keep an eye on the competitors, and report to me in a timely manner if there are major trends. Bymore's intelligence is listed as the highest priority, and other competitors can be ranked a little lower. ”

Zhang Yida began to instruct Hou Jiaji. When Hou Jiaji entered the company, it was to keep an eye on the financing situation, car manufacturing plan, and target area of each competing product......

Know yourself and know your opponent, and you will not be defeated in a hundred battles.

In the bike-sharing industry, Huimin has a clear lead, but Zhang Yida still doesn't dare to take it lightly.

……

"Mr. Shen, how is Huimin's A+ round of financing found?" Zhang Yida called and asked Shen Beipeng.

"It's settled, call them to your company in a moment, and you're ready to prepare. Shen Beipeng said.

"Okay, I'm waiting for you at Huimin Bicycle Company. ”

Zhang Yida was very happy, a few days ago he told Shen Beipeng to help Huimin Bicycle find the next round of investors, and the news came so soon.

In the conference room of Huimin Bicycle, Zhang Yida received several investors brought by Shen Beipeng.

"This is Zhu Xiaohu of Jinshahe Venture Capital, Mr. Zhu. Shen Beipeng introduced Zhang Yida.

Zhang Yida followed his gesture and looked over, and a middle-aged man in formal clothes with a shaved head smiled at Zhang Yida and nodded, which was regarded as a hello.

"This is Zhang Ying of Jingwei Global, Mr. Zhang. ”

Shen Beipeng continued to introduce, Zhang Yida followed his gaze, and he was also a middle-aged male investor dressed in formal clothes and a successful person, and he was nodding and greeting him with a smile on his face.

Zhang Yida also nodded at him, which was a response.

These two investors are also well-known investors in the industry, venture capital bosses, Zhang Yida heard their names in his previous life, and he had some impressions.

Shen Beipeng really had a big face, so he invited both of them. Zhang Yida said secretly in his heart.

"Yida, let's talk about the current operating data of Huimin Bicycle!" Shen Beipeng was the first to speak.

"Okay, let me give you a basic introduction. Huimin Bicycle was officially put into operation in late September and has been in operation for more than 3 months.

At present, it has a total of 120,000 shared bicycles, distributed in the four first-tier cities of Beijing, Shanghai and Pengyang, with 3.32 million registered users and 1.08 million daily active users.

2.6 million users paid deposits, and collected deposits of 777.4 million yuan......"

After Zhang Yida's introduction, everyone has an intuitive understanding of the operation data of Huimin Bicycle.

"Mr. Zhang, the operation data of Huimin Bicycle has improved very quickly! I have seen the A round of financing BP of Huimin Bicycle, and there were only 200,000 registered users three months ago, right?"

Zhu Xiaohu of Jinshahe Venture Capital said with a smile.

"Yes, the A round of financing has only been in operation for a few days, and the number of bicycles is only 20,000, and all of them are in Beijing.

With a Series A financing of $50 million, we have added 100,000 bicycles, expanded the scale of operation many times, and extended our tentacles to three other first-tier cities.

There is a current achievement, not only because of the concerted efforts of the team, but also because of the boost of capital forces. ”

Zhang Yida thought that Zhu Xiaohu didn't believe in this operational data, so he explained.

As a result, Zhu Xiaohu said: "It is reasonable for Huimin Bicycle to have this achievement at present, Mr. Zhang, you are a master of operation, and the success of Ruixiang is the best proof." ”

"Can you talk about the future development vision and commercial realization of Huimin Bicycle?" Zhang Ying of Jingwei Global interjected.

"The development vision is definitely to expand the business territory to the whole country, so that the small green car can spread all over the streets and alleys of the country. If there is an opportunity, the international market will also expand.

In order to achieve this goal, we have set a three-step strategy before, during and after.

The early strategy is to raise Huimin Bicycle through the power of capital through a round of financing in three months, and occupy the national market with the fastest speed and the most ferocious attitude......

The medium-term strategy is to defeat all competitors, occupy the national market, and become the industry leader, and then fully launch commercial realization......

The later strategy is to consolidate and digest the domestic market and enter the international market......

Business monetization starts next month, and we will launch a deposit wealth management product......

In addition to the realization of online financial traffic, offline body advertising, I plan to do so......"

Zhang Yida talked eloquently and laid out the strategic planning and commercial realization plan of Huimin Bicycle. There is no confidentiality problem, and it is the king to put the investors in line first.

After Huimin Bicycle starts commercial realization, all means will be exposed. Competing products will naturally learn from each other if they want to plagiarize.

In addition, Huimin Bicycle wants to defeat them by financing rhythm, and there are already signs of this, such as Fu Weiwei, who saw it, so she spared no effort to raise money and fought hard.

Waiting for Huimin to finance one or two more rounds, people in the industry can see this scheme.

There is no way to see it, a round of financing in three months, and the valuation has risen by one or two times, which is only the leader of the entire track has this treatment.

Other companies can't do this kind of financing. After the general trend of Huimin bicycles is formed, the end of other competing products will come.

Zhu Xiaohu and Zhang Ying listened with relish and couldn't stop nodding in agreement.

Zhang Yida is worthy of being an entrepreneur who has founded a company with a valuation of more than 10 billion US dollars, with outstanding business ability and many far-reaching considerations.

In the future, as long as Huimin Bicycle does not die, it will continue to maintain this state, not to mention the monopoly industry, and it will be absolutely no problem to occupy the leading position in the market.

The two investors thought to themselves.

"Valuation?"

Zhu Xiaohu asked, he has basically determined the investment intention, of course, there is a premise, as long as the valuation is not too outrageous.

"$500 million valuation, $50 million raised. ”

After Zhang Yida offered his own price, he calmly drank the tea and secretly observed the reactions of the two investors.

"Beipeng, Huimin Bicycle's post-investment valuation of the A round of financing three months ago was $250 million, right?"

Zhang Ying turned his gaze to Shen Beipeng and asked.

"Yes, that's right. Huimin is worth the price. ”

Shen Beipeng is also an old fox, and it is related to the valuation of Huimin, he must be on Zhang Yida's side! So he spared no effort to praise Huimin.

"In three months, the valuation has doubled. ”

Zhu Xiaohu muttered to himself, and he didn't know if he was too fast or too slow.

"Is the $500 million a pre-investment valuation or a post-investment valuation?" Zhang Ying asked Zhang Yida.

"Pre-pitch. Zhang Yida looked at Zhang Ying and smiled slightly.

"To be honest, it's a bit high. The company has only been established for three months, which is valued at 500 million US dollars. ”

Zhu Xiaohu began to pick thorns, saying that Huimin Bicycle was founded too late and its foundation was unstable.

Zhang Ying couldn't help nodding in support of Zhu Xiaohu, and said:

"We can give Huimin Bicycle a pre-investment valuation of $350 million and an investment of $50 million, and a post-investment valuation of $400 million.

$400 million is not low, and many mature listed companies do not have this market value. ”

Anyway, there is only one meaning in the words, tell Zhang Yida, the little brother is content! Less than half a year after its establishment, the company is valued at 400 million US dollars, and you can't go too far.