Zheng Yan looked at the two people who were waiting for him to speak, and when he didn't know how to speak, he found that Bill's living room had a Japanese-made GB machine.

"Leonard, do you also play Playboy consoles?"

Zheng Yan's sudden question made Leonard stunned.

"Yes, this console is very good, and I always use it to kill time after work. ”

Although Leonard didn't know Zheng Yan's intentions, he still answered Zheng Yan's question.

"Leonard, Bill, you all know I'm running an investment company, but you don't know me before that. Before we get into the formal matter of financing, I might as well talk to you about it. ”

"In 1987, when I was in college, I studied computer science, so I started a technology company with a few classmates. ”

"At that time, we developed an enterprise management software, but due to financial constraints, we could not afford to operate it ourselves, so we had to package and sell the overseas management rights of the software to Sony, but we only retained the Chinese market. This transaction with Sony earned me the first pot of gold in my life. ”

When Zheng Yan said this, he stopped and looked at Bill and Leonard, both of whom were a little shocked on their faces, indicating that both of them knew this software.

"Later, our company developed another game software, but this time we didn't sell it as a package, but formed a joint venture with Sony. And the company produces the Playboy game console in front of it. ”

"So, I've always been very interested in things in the computer space, and I've always been looking at this information. ”

Zheng Yan stopped when he said this.

"Oh Zheng Yan, I really didn't expect you to be a genius in the field of computing. I think if you continue to develop in this field, it must be more promising than if you were in the investment industry. ”

Perhaps because of the common topic, Leonard's attitude towards Zheng Yan is obviously a lot closer.

"Zheng Yan, according to what you say, you are very optimistic about the development prospects of our company?"

"Of course, Leonard, the connected devices your company is currently producing, in my opinion, may well be the key to a new era for us. That's why I'm going to travel all the way to the U.S. to participate in the financing of your company. ”

"Zheng Yan, first of all, I am very grateful for your recognition of our products. However, you must know that your words only explain the reason why you want to raise money, and the other thing is to increase the difficulty of financing, which does not help your purpose. ”

"Leonard, if we were meeting on a formal occasion, I certainly wouldn't say that. But now, we're friends, aren't we? Although the purpose of my trip is to participate in the financing of your company, I think it is better to be honest with my friends. ”

"In addition, I believe that the conditions I can offer must be better than those of other investors. The purpose of investors is to make a profit, and although they are optimistic about the prospects of your company, they must not be as clear as I can see. ”

"Investors are targeting all industries, but they can't be proficient in all industries. I can't do it either, but I think I have more say in the computer field than they do. ”

Although Leonard is the founder of Cisco, he is also a technician in the end.

Technicians have a common problem, they are more willing to deal with people who have a common topic under the same conditions.

"Zheng Yan, to be honest, whether it is out of friendship with Bill or from my own considerations, I would prefer to choose to cooperate with you rather than those investors who are full of copper smell. ”

"However, now that I am the chairman of Cisco, I am accountable to my company, to all shareholders, to all employees. I can't just choose according to my preferences, so, I still can't promise you. ”

Zheng Yan was not surprised by Leonard's answer.

"Of course I understand this, Leonard, and I don't expect to convince you with that. ”

"Although I don't know about Cisco's financing in the early stage, and because Cisco is not listed, I don't know its specific market value, but I have also made a simple assessment of Cisco. ”

"According to my estimates, Cisco's current annual profit is around $50 million to $60 million at most, and its market capitalization will not exceed $600 million. I'm willing to invest $100 million and only ask for 10 percent of the shares. ”

"You must also know that the financing before the listing has a direct impact on the company's stock price after the listing. ”

After the relationship was pulled in, Zheng Yan directly launched a price offensive.

After Leonard heard Zheng Yan's offer, he didn't react for a while.

According to the previous financing situation, the current value of Cisco is at most $500 million. The financing conditions given by Zheng Yan have virtually doubled the value of Cisco.

And Leonard believes that if Zheng Yan goes to negotiate with the previous financing company, he will definitely be able to buy their shares at this price.

"Zheng Yan, I have to say that the price you gave scared me. But have you ever wondered if public investors will pay for the price when the company goes public after the company goes public, based on the value of your financing?"

"If the company accepts your financing, it can really accelerate the pace of the company's development and increase the value of the company. However, after the company goes public, it also faces the risk of being ignored because the stock price is too high. ”

After Leonard heard Zheng Yan's offer, he almost agreed, but finally calmed down.

Cisco's current earnings situation is not enough to support the valuation given by Zheng Yan.

"If the issue price is too high, it will make investors feel that the risk is too high, and at the same time, the issuance risk and difficulty of the underwriting institution will also increase. ”

"Investors' enthusiasm for subscription will also decrease, and the market performance of the stock after listing may not be satisfactory. Leonard, that's what you're worried about, right?"

Zheng Yan saw Leonard nodding and continued.

"If that's your concern, then my Yanhuang Investment Company can act as an underwriter for Cisco, and it's a stock underwriter. ”

Zheng Yan also wanted to get more Cisco shares, and on the other hand, in order to dispel Leonard's concerns, he directly took over the stock underwriting.

But Zheng Yan didn't know that after his words came out, it made Leonard even more uneasy.

Bill Miller also began to wonder why Zheng Yan was so optimistic about Cisco.

Just as Leonard was undecided, there was another knock at the door.