Sun Jiang said: "Listen to me first. I talked to Xiao Ming and knew that Yigou was not interested in a large amount of cash at this stage, and according to the current development of Yigou, they would not lack financing funds in the capital market in the future. ”

The directors nodded, a good Internet company is indeed not short of funds.

In this era of burning money, some Internet companies that do not have any technical content and only have creativity can raise tens of millions of yuan or even billions, such as a shopping network, a short video APP, etc., not to mention a dog translation company with relatively monopoly technology.

Sun Jiang continued: "We won't talk about Yigou Translation, English and Japanese will have a monopoly position in more languages in the future, but Yigou Translation does not match our Warwick technical positioning, and we don't need to pay too much attention to it." We want to focus on Ozawa, a voice assistant who relies on the translation dog language database and neurological thinking. ”

Sun Jiang said: "Ozawa is only an intelligent voice assistant at present, and in the future, it can be further developed in line with the smart chip created by Huawei, and it has great potential in the future." ”

Sun Jiang said: "The VAM agreement I proposed is that Huawei will register a shell voice assistant company, and Yigou and Huawei will each contribute 500 yuan, and each will own half of the company's equity, both 500 shares, and 1 yuan of both shares, and the company will have the sole right to use Ozawa's voice assistant."

Subsequently, Huawei injected capital into the company to expand the share capital to 100 million shares, divided into 30 million shares of 1 share of 10 voting class A shares and 70 million 1 share of 1 voting class B shares, the previous 1,000 shares are calculated according to class A shares, and the expansion funds are provided by Warwick. After the share expansion, Huawei has 500 Class A shares and 70 million Class B shares. Yigou owns 30 million to 5,000 Class A shares. ”

Sun Jiang said, and the directors recorded it in their notebooks.

At this time, Huawei owns 70% of the equity and 18.92% of the voting rights of the new company, and Yigou has 30% of the equity and 81.08% of the voting rights. ”

The directors nodded, already knowing what Sun Jiang was going to say later.

"We will agree with Yigou that if the company's profit reaches 300 million and the company's valuation reaches 2 billion after two years, then all the A shares in Yigou's hands will be converted into B shares at a ratio of 1 to 10, and Yigou will own 81% of the company's equity and voting rights. Warwick owns 19% of the company's equity and voting rights. This 19% equity will be purchased by Huawei in cash after deducting the original 100 million yuan from the valuation. ”

"If Yigou fails to reach the VAM agreement, then Yigou will be out, and all A and B shares held by Yigou will be transferred to Warwick, and Huawei will have all the technology and use rights of the voice assistant. ”

Some directors raised different opinions, saying: "Such a VAM agreement may not be accepted by Yigou, and the financing conditions given by other institutions to Yigou may be much simpler, and Yigou can get a good amount of funds at one time, rather than the equity of a company that is expected to be in the future." ”

"That's what I'm going to talk about next. Sun Jiang was born in venture capital, and has held positions in a number of venture capital companies before joining Warwick, and he is too familiar with what conditions investment companies will give to Yigou.

Sun Jiang said: "At present, only we know about Ozawa's voice, and even if other financing companies take a fancy to Yigou, they also fancy Yigou Translation instead of Ozawa's voice, which is one of them." ”

"Second, if the financing company wants to invest, then what are they asking for? They will exchange funds for shares, and as I just said, Yigou is different from other start-ups, it lacks funds, but it is not a shortage of tens of millions of dollars, so Xiao Ming will not sell shares in the early stage of the company because of funds. Xiao Ming is not an activist investor, and he has a feeling of free development without big goals. Moreover, I think Xiao Ming's future energy will be mainly on his university studies rather than the company. How many companies have you seen with only three employees in a company valued at tens of millions? ”

The director asked: "So why does Yigou want to cooperate with Warwick, since Yigou is not short of funds, then Huawei has no chance of cooperation at all! Yigou also proposed that Huawei purchase voice components in the form of procurement." ”

Sun Jiang agreed with the director's words and said, "This is the third point I want to make. ”

Sun Jiang paced back and forth on the podium and said, "What can Huawei do for Yigou? In addition to the initial funds, there is also a broad market and a future stage. If Yigou publishes the voice assistant as a plug-in on the third-party download market, what do you think is the reaction of each mobile phone provider?"

Someone said, "It shouldn't be particularly welcome." ”

Sun Jiang said: "Yes, I believe that companies, including Warwick, will not like a third-party voice software that is more powerful than their own voice, so these mobile phone manufacturers will take two measures." One is to cooperate with Yigou like us, and the other is that all mobile phone manufacturers have banned Yigou by default and do not support third-party voice assistants to use on mobile phones, even if we all know that the truth is in Yigou. ”

The director added: "Haha, this is the capital market, not the truth market. ”

"There are many ways to block, and as soon as you install the voice assistant, the mobile phone will not be stuck. That's how we treat third-party desktop software back then. ”

Sun Jiang explained with a smile: "Yes, but what about cooperating with Warwick? The newly established voice company will operate independently, and Huawei will choose to purchase or not to purchase voice assistants according to its own needs, and if it wants to purchase, it will also be in accordance with the charging principle of the voice company." Voice companies can even sell voice assistants to Xiaomi and Apple. Warwick's annual shipments of mobile phones reach 200 million, and the shipments of high-end mobile phones exceed 10 million. Xiao Ming will love this market. What's more, Warwick did not refer to the shares of Yigou, we invested in the future and expectations. ”

"If the Yigou bet fails, what you lose is the voice assistant instead of the whole Yigou. If Warwick loses the bet, then it is in the interests of the company that a great company has Warwick's equity in the future, and Ozawa's voice assistant can also participate in Warwick's future AI plan. I think all directors have certain expectations for what kind of changes Ozawa can bring about in Warwick. ”

After Sun Jiang's speech, the directors on the scene gave warm applause.

Sun Jiang persuaded everyone, and the directors nodded their heads.

"It's a win-win VAM agreement!"

"Now that mobile phones are seriously homogeneous, with the help of voice assistants, we can not only stabilize the domestic market, but also compete with Samsung and Apple in overseas markets. ”

"We agree!"

"I agree!"

The directors voted to approve the VAM plan.

And Sun Jiang's task is to persuade Xiao Ming to accept the gambling plan!

Jiangcheng, Guangyao Building.

Xiao Ming felt the rapid money-making effect of the Internet for the first time, and also felt the cruelty of the Internet.

Youdao made a big move.