As the founder of Kaixin.com, Chen Binghao is an out-and-out Internet veteran, he joined Moulang in 98 and participated in the whole process of Moulang from its creation, listing, to growth into China's leading portal.

He has worked in a number of technical positions in the company, and has successively served as the deputy general manager of wireless technology, the deputy general manager of enterprise services, and the chief technology officer of a certain wave.

4 months ago, Chen Binghao resigned from a certain wave, he took all his personal savings of 3 million yuan, and set up Kaixin.com with 5 technicians.

In the past, when he was in a certain wave, he knew that the Internet was a money-burning industry, and when he started his own business, he really understood the true meaning of burning money, and the 3 million funds were already stretched thin before they lasted for half a year.

Coincidentally, He Jun, the investment manager of the team in the northward journey of Galaxy Investment, used to work in a certain wave, and after arriving in the imperial capital, he made an appointment with a group of old colleagues to get together as usual.

At the wine table, He Jun heard the story of Chen Binghao's resignation and entrepreneurship, and his eyes couldn't help but light up. This time he went north, he was looking for investment projects everywhere, and it was really "someone brought a pillow when he was dozing off".

So He Jun introduced Chen Binghao through an intermediary. At this time, Chen Binghao was at a loss, and when he knew He Jun's intention, the two sides hit it off.

After receiving Ding Le's instructions, He Jun flew back from the imperial capital with Chen Binghao overnight.

On the way, He Jun also deliberately told Chen Binghao and his party the legendary story of his boss.

"Our boss is a bank relationship manager, started from scratch, made billions of money through the stock market, and now changed careers to become venture capitalists. ”

The shorter the text, the greater the amount of information, and the legendary story of Ding Le made Chen Binghao stunned.

"Is your boss's story true?

"I used to run so far to deceive you?" He Jun couldn't help but laugh at Chen Binghao's question, and he felt the strong straight man atmosphere on Chen Binghao's body.

Early the next morning, when a group of people appeared in front of Ding Le, he was on the phone with Fei Yang to learn about the recent development of the money bag network.

The conference room of Galaxy Investment is facing the Huangpu River, sitting in the conference room, through the huge floor-to-ceiling glass, condescendingly, you can see the boats coming and going on the river, a busy.

Through the information provided by He Jun, Ding Le carefully studied Chen Binghao's background and work experience, Chen Binghao has been engaged in product and technology management for many years, and is a typical IT man.

After a brief greeting, the two sides went directly to the topic and talked about specific investment matters. Chen Binghao introduced the company's future development plan and the specific amount of financing to Ding Le in detail.

Ding Le smiled and said: "I am very optimistic about your website, but before we cooperate, there is one thing I want to make clear!"

"There are two key factors to a successful investment. The first is to invest in the right person in the early stage, put the money in the right hands, and the investment will be half the success. The second is to choose the most appropriate time to exit at a later stage. Investment is not a marriage between two people, who plan to live a lifetime hand in hand. Galaxy Investment has maximized its benefits and is definitely going to exit. ”

"As long as you agree to this premise, then we can talk about the specific amount and equity proportion!"

But those who have outstanding strengths will also have outstanding shortcomings. Chen Binghao's professional ability is outstanding, but he is not good at words, although he is a few years older than Ding Le, but when the two sides negotiate, Ding Le has always taken the initiative.

"Our company will definitely go public in the future, why can't Mr. Ding stick to the end?" Chen Binghao did not agree with Ding Le's point of view.

"At present, your development momentum is good, once listed, the investment income of the galaxy will increase exponentially, but I don't want to wait that long!"

Ding Le smiled and continued: "Li Ka-shing once said, never go to earn the last copper plate, the same is true for investment, you must know how to accept it when you see it, too greedy is a taboo." Your company has only been established for less than 4 months, and the listing is still a long process, no one can predict that there will be any twists and turns in the middle. ”

China's venture capital companies have always regarded the company's listing as the main exit channel, while in the United States, the proportion of listing exits is less than 20%, and more than 80% are mergers and acquisitions. Ding Le is very fond of this mode of operation of American venture capital institutions.

"Since Ding is always cheerful, let's also open the skylight and say something. Chen Binghao said.

"We want 5 million in this A round of financing, give up 5% of the shares, and when we carry out B round of financing in the future, I will have no opinion on whether Galaxy Investment stays or leaves!"

Ding Le couldn't help but wonder after hearing this: "Mr. Chen, you came so far just for a mere 5 million? I will invest 20 million and ask for 50% of the shares, do you accept it?"

Ding Le's offer far exceeded Chen Binghao's expectations, and he exchanged a few words with the people next to him, and replied: "I want to find a place to calculate a new offer with my colleagues." ”

"There's no problem, you guys are here to talk, and our people are all avoided. Ding Le got up and said.

An hour later, Chen Binghao invited Ding Le into the conference room again, he crossed his hands on his chest, and said: "We have carefully calculated, 20 million will only give 20% of the shares at most!"

Ding Le pondered for a while after listening to this, and said: "Do you think this will work? Galaxy invested 30 million yuan, asking for 30% of the shares, if you agree, sign the contract now, and the money will be transferred to your company's account immediately." ”

Ding Le's local tyrant style made the people of Kaixin.com a little unsure of what to do, this is a fake venture capital, right?

The company raised 5 million yuan, but had to invest 30 million yuan, and the project introduction was just a formality, and even the company's profit model and future development plan were not concerned at all.

Before they came, they had done all kinds of internal deductions, and in order to deal with the difficulties of investors, they had worked all night to prepare materials, but now they are useless.

Chen Binghao was mainly engaged in product and technology management before starting his business, and he lacked experience in the company's investment and financing, finance, and law.

"With this money, you can quickly expand the scale, the Internet era is the era of big fish eating small fish, think about your opponent intranet café, I am very optimistic about the future development of your company!" Ding Le continued to bewitch.

Ding Le's self-confidence made Chen Binghao have the final decision: "Okay, since Mr. Ding is so optimistic about us, then I won't twist and pinch anymore, I'll sign!"

Hearing this, Ding Le smiled and stretched out his hand: "Happy cooperation!"

While the two sides shook hands to celebrate, Ding Le made a decision in his heart to withdraw in the future.

To paraphrase the views of later industry experts, the homogeneous competition of social platforms is serious, and acquaintance social networking is not a rigid need and cannot become a pillar to support products, and most of the life cycles of this type of companies will not last long.

After the injection of funds from Galaxy Investment, Kaixinwang will speed up the promotion of existing projects, and it will not be long before "grabbing parking spaces", "buying and selling friends" and "stealing vegetables" will be popular all over the country, and Kaixinwang will also usher in explosive growth.

Next year, based on a large-scale user base and strong user payment ability, various SNS sites in China will also usher in their own highlight moments.

At the same time, similar social games will soon be proliferating on major social platforms in China.

Because the name of the online SNS community "Happy Network" is exactly the same as that of Happy People Technology, the two sides have also launched a protracted litigation battle for this.

In Ding Le's view, with the development of network technology and mobile Internet, this type of company will die under the wheels of history, and the future social platforms belong to Weibo and WeChat.

Wait until next year, after the popularity of Kaixin.com, Ding Le will promote Kaixin.com to launch a B round, C round, and even a listing financing plan.

No matter which way is taken at that time, Galaxy Investment can get out of the way.