PS: In the previous 1032 chapters, Alipay gave 80 million investments, which was a data error, which was contrary to the 30 million in the previous 1,000 and 24 chapters. Pen @ fun @ pavilion wWw. ｂｉｑUｇE。 info has been changed here, and it still uses 30 million.

Sorry, this is my mistake, in addition, if there is anything unreasonable, please bear with me, these financial and economic is not my strength, I can only check the information as much as possible to make it more reasonable.

Therefore, if there is a research party or a more serious brother who thinks it is wrong, try to spray it lightly. Thank you!

........ Dividing line .........

Negotiation is a method of doing our best to obtain the most benefits within a limited range, and at the same time, we are also compromising with each other to discuss the benefits that we deserve.

Before this, Wu Mingming's negotiations with them were more in the general direction, and he never made any promises easily.

Ji Yue and Peng Lei also understood that no matter how nice they said before, the cake given by Ele.me was so big, and it was impossible for the three families to divide it equally.

Everything has to be based on their own efforts to get the corresponding benefits!

Moreover, the result of their negotiation will also be approved by the three founders of Ele.me, so that the entire financing can be successfully completed, and no one party will still hold grudges.

Because this is the result of many parties, after many consultations over and over again.

Ji Yue looked at Lu Heng seriously and said: "We, Sequoia China, are willing to invest 100 million in Ele.me to support the company's next development projects, this money is used for Ele.me's market expansion, hoarding users, etc., in principle, you three founders can't cash out." The return we are asking for is 7% of the original shares and the immediate establishment of a board of directors. Sequoia China will send a special person to serve as an independent director on the board of directors of Ele.me, who is responsible for overseeing the company's day-to-day operations, development strategies, and has one vote on major decisions. ”

The return on the investment of 100 million yuan is 7% of the shares of Ele.me and the seats of independent directors with voting rights.

Lu Heng nodded and looked at Xu Xin.

Xu Xin was not ambiguous, and immediately said: "Today's capital provides 70 million funds, which will be handed over to Ele.me for daily operation, employee fund distribution, market expansion, user hoarding, and technology research and development. We wanted about the same things as Sequoia, five percent of the original shares, and I was an independent director and had one vote. ”

"Oh?"

Lu Heng asked with interest: "Do you personally serve as an independent director?"

Xu Xin pursed her lips and smiled, "Can't you?"

Lu Heng smiled, "If you have this kung fu, of course I am willing." I can't ask for an experienced director like you, who is always supervising the development of Ele.me and escorting her. ”

"If it had been before, maybe I really couldn't have served as an independent director myself, after all, I held this position in several other companies, including JD.com. But as I've cashed out from a few investments in the past few months, I've come back from a bit of a no-brainer. In addition, I would like to know how much potential you founded Ele.me. ”

Xu Xin said lightly, and there was no lack of appreciation for Lu Heng in his tone.

Lu Heng just shook his head and said: "Ele.me is not just founded by me alone, it is more of the hard work of Mr. Wu and Mr. Xiao, instead of believing in me, you should believe in the two of you." ”

Wu Mingming and Xiao Jianguo on the side were slightly excited, being recognized by Lu Heng on this occasion was no less significant than their various efforts a few days ago.

Lu Heng said this, and the three investors couldn't help but look at Wu Xiao and the others.

They also know that Lu Heng can become the largest shareholder of Ele.me, relying more on his creativity and monetary capital.

But Ele.me's rise from scratch depends on these two unattractive young people, who work hard day and night.

"Mr. Peng, what about you here?"

As Lu Heng's eyes looked over, Peng Lei also understood that the rest was only her own side that had not yet expressed her position.

She coughed lightly and said in a flat tone: "The investment of 30 million yuan, as well as the all-round technical support and professional support we provide." Correspondingly, we need more in return. The original stake of three percent is only one aspect, and Alipay and Ele.me have reached the closest strategic cooperation. In addition, there must be a place in our company in the board of directors. ”

Hearing Peng Lei's words, Lu Heng paused slightly, and asked slowly: "The so-called technical support, personnel support, can you talk about it?"

Peng Lei smiled slightly, seeing that everyone was looking at her, thinking about this question, which was also of concern to everyone, including Ji Yue and Xu Xin.

She said softly: "Help Ele.me simplify the payment process, assist in software development, and send financial professionals to settle in Ele.me to assist in online payment and economic regulation management." These are only approximate, the specific details, Mr. Wu and Mr. Xiao know in their hearts, and I will also clearly mark them on the contract. ”

Wu Mingming and Xiao Jianguo nodded one after another, compared with their previous negotiation results, the gap is not big, and even Alipay suffered a little loss.

However, they are willing to suffer this loss, after all, this result was negotiated by the three investors, and everyone can accept it.

After listening to these conditions, Lu Heng had a rough score in his heart.

Under the premise that he only paid 15 percent, he was able to raise just 200 million funds, which is a great luck.

To be a little smarter, using this ratio to convert, you can conclude that the valuation of Ele.me has reached 1.3 billion.

That's an absolute premium too!

The current Ele.me is not worth such a high price, it is only worth 400 million, even if there is Lu Heng, the founder, the factor in it, the premium cannot exceed one billion.

The main reason is also that in addition to shares, Ele.me has also let other things out.

For example, the board of directors and the voting rights they bring, in other words, in the future, Ele.me will no longer be Lu Heng and the three of them, Sequoia, Today Capital, and Alipay all have the right to decide on major strategic plans.

There is also the in-depth cooperation between Ele.me and Alipay, which is also the reason for the high valuation.

When the most commonly used online ordering software and the most convenient payment software collide together, everyone can more or less predict what kind of chemical reaction can be generated.

In addition, there are many other factors that affect investment, and the vacuum period of the market may lead to the growth of Ele.me into a leading industry.

Lu Heng took a deep breath and looked at the three of them, "This is the result of your negotiation, is there anything else?"

Xu Xin and the three of them looked at each other, and finally turned their eyes to Ji Yue.

Ji Yue said calmly: "I believe that Lu Dong can also see that this financing, as a whole, is a big loss for the three of us." ”

Lu Heng nodded, he did not deny that Ele.me took advantage.

Ji Yue continued: "But those who make investments are not afraid of short-term losses, we look at long-term benefits. In order to ensure our interests, I asked Sequoia China to obtain the right to lead the next round of investment from Ele.me in addition to the previous conditions. ”

Lu Heng groaned, Ji Yue's thoughts, he probably understood.

In the current situation of not giving in, if they want to become the master of Hungry, they can only accept their own conditions.

However, as an Internet company, financing is inevitable.

Round after round of financing, share dilution, equity change, this is the most skillful means of venture capital play.

For example, Autohome, Li Xiang has lost power after continuous financing.

For example, Alibaba, Jack Ma once became the richest man in China, but his stake in the group is a surprising 7.0 percent, less than 8 percent.

The majority of the shares of Ali Group are all in the hands of SoftBank and Yahoo.

In terms of possessiveness, Lu Heng didn't want that scene.

But from the perspective of interests, if Ele.me wants to develop better, and its own founders can make more money, then it can only let venture capital continue to invest.

The cake is bigger, and the benefits obtained by the smaller share are also several times or even tens or hundreds of times the original 100% share.

All he has to do is to ensure that their founders are not kicked out while gaining benefits.

"Mr. Xu, what about you?"

Lu Heng suddenly raised his head and looked at Xu Xin.

Xu Xin smiled and said with a little embarrassment: "If I can, of course I want to continue to invest, so without the right to lead the investment, I hope that in the next round of financing, I can continue to invest." ”

Lu Heng nodded in understanding.

After asking Peng Lei if there were any other conditions, Lu Heng clapped his hands.

"Okay, we've told us the results of your consultation, so let's talk to the three brothers! It won't be long, two hours at most, and we'll give you a satisfactory answer." ”

After speaking, Lu Heng walked out of the door of the conference room, followed by Xiao Jianguo.

After Wu Mingming greeted the three of them, he also hurriedly followed.

In Lu Heng's office, the three of them lit a cigarette silently.

Xiao Jianguo pumped quickly, swallowing clouds and spitting fog, with a faint expectation on his face.

Wu Mingming was neither fast nor slow, his brows were tightly locked, and he seemed to be not very satisfied with the results negotiated by the three investors.

Only Lu Heng lit a cigarette, put it on his fingers, didn't take a puff, and let the smoke rise and turn into a white line.

"Tell me, what do you think, do you agree, or do you have another plan?"

Lu Heng changed his sitting posture and knocked on the table and said.

Xiao Jianguo couldn't wait to smile and said: "Very good, very good! Originally, we planned to ask for 200 million funds, but now that we are about to get it, we don't have to pay too many shares, so why not." ”

Lu Heng tugged at the corners of his mouth and looked at Wu Mingming.

"Obviously, you can tell me. ”

Wu Mingming took a deep puff of cigarette and said slowly after exhaling it all: "Room chief, Jianguo, I have a concern. The entry of capital not only brings vigorous development, but also makes it easier for the company to stop following the original intention of the founder. I'm worried that these crocodile-like venture capitalists will swallow us to the bone. ”

Xiao Jianguo was stunned, and then smiled awkwardly: "Obviously you are too worried, this is only 15% of the shares, how can they swallow us without even a bone?"

Wu Mingming shook his head and did not refute Xiao Jianguo's words, but he was not shaken by the thoughts in his heart.

Looking at Lu Heng in a daze, Wu Mingming insisted on asking, "Director, what do you say, I want to know what you think." ”