Chapter 186: This Valuation Is Not Enough
The valuation is 20 billion US dollars, and the total share capital of Meigou is 850 million, so each share is 23.5 US dollars, and the RMB is 200 yuan!
The shares to be transferred by Wang Ye are 100 million shares, and the amount of this transaction is 20 billion yuan.
Liu Tao looked down at the information in his hand, his heart was surging, sure enough, he could participate in this kind of big business of tens of billions in his life, and the one million bonus was worth giving up!
However, Wang Ye still seems to be dissatisfied with this valuation.
"Mr. Li, I don't know if you have considered one thing, that is, Meigou will be listed on the NASDAQ around June or July in the middle of the year, and now the listing process has begun. Could it be that after the online listing of Meigou, the market value is only like this?"
Although this is only the nominal B round of financing of Meigou.com, Meigo.com is not one of those start-up companies, its market value is relatively stable, and there is basically no risk.
This kind of investment is different from venture capital, and it must be fully considered that the premium of the company after listing.
Because Temasek opened the door before the listing and let Temasek get on the bus, which is almost a clear sign that they will be able to share the cake, Temasek also needs to show enough sincerity and pay enough for the ticket to get this opportunity to board the bus.
"Wang Dong, we have fully considered this, according to our assessment of Temasek, the market value of Meigou will be between 25 billion and 30 billion US dollars after the online listing. So, now valuing Meigou at $20 billion, I think that shows Temasek's sincerity. Li Guanghua said with a smile.
This kind of negotiation is often in the amount of hundreds of millions or even billions, and Li Guanghua will of course not give an inch. Once he has a softer attitude, then he may have to pay billions more. He was able to sit on the Temasek Investment Committee and be entrusted with the important task of negotiating the share acquisition.
"First of all, I want to explain that I don't know how to calculate your post-listing market value of up to 30 billion, but this figure is very biased. According to our internal valuation, after going public, the market value of Meigou will reach at least $40 billion!" Wang Ye said firmly.
Half a year later, Meigou will list the NASDAQ, and how much market value can be reached after listing is the key point of this equity transfer. On this point, of course, Wang Ye will not budge, and it is impossible for Temasek to say as much as he wants.
"Oh, can you please tell me how this 40 billion valuation was calculated?" Li Guanghua said unhurriedly.
Since you dare to value 40 billion, you must have enough data or theoretical support. Li Guanghua also wants to know why Wang Ye has the confidence to shout out the high valuation of 40 billion.
Wang Ye smiled and gestured to LISA, it was her turn to appear.
LISA OPENED THE LARGE FOLDER ON THE DESKTOP AND BEGAN TO EXPLAIN TO LI GUANGHUA.
"What is the valuation of Meigou.com, we can't just refer to JD.com, because in many aspects, our company has advantages that JD.com does not have. In these aspects, we also refer to Amazon's valuation. β
Li Guanghua smiled dumbly, referring to Amazon? This is a bit of a leapfrog challenge, Amazon is a global e-commerce giant, and its market value has already exceeded 100 billion US dollars!
"Excuse me, interrupt, I want to know, what aspects of Meigo.com JD does not have, and what are the aspects that can be compared with Amazon?"
LISA DIDN'T CARE AND EXPLAINED TO HIM: "LAST TIME, MEIGOU CARRIED OUT AN INTERNAL SHAREHOLDER CAPITAL INCREASE OF 20 BILLION, AND MR. LI MUST HAVE UNDERSTOOD IT. β
Li Guanghua nodded, of course he knew about it. Meigou used the method of internal capital increase to solve the problem of capital for enterprise development, which disappointed many investment banks at that time.
"SO I DON'T KNOW IF MR. LI KNOWS WHAT WE DID WITH THIS MONEY?" ASKED LISA, SMILING.
"It seems that I bought a lot of land, and if I guessed correctly, it was a transit warehouse under construction. At this point, it is true that Jingdong is not comparable, they are all leased warehouses. Li Guanghua said calmly.
"Yes, transit warehouses, now Meigou has seven transit warehouses, covering the whole country. These transit warehouses will be put into use in the next year, and at that time, the first-, second- and third-tier cities across the country will be delivered within one day! Second, fourth, and fifth-tier cities can also be delivered the next day!" said LISA.
Li Guanghua was in charge of this negotiation, of course, he had done his homework in advance and had enough understanding of the e-commerce industry.
So after LISA said this one-day and the next day, he was also surprised. As far as he knows, there is no e-commerce company in the world that can do this, and some e-commerce companies claim to be able to deliver one day, but in fact, it is only for a few first-tier cities, but like LISA, all the first, second and third-tier cities, there is really no e-commerce company that can do it.
This efficiency not only improves the speed of cargo transfer, but more importantly, the user's shopping experience has been greatly improved!
Think about it, for the same goods, the same price, it takes two or three days or even longer for an e-commerce company to deliver the products purchased by users. On the other hand, Meigou can deliver products to users on the same day at the earliest.
In this case, which e-commerce platform will users choose?
"Excuse me, how can you be so efficient? Obviously, these few transit warehouses alone are not enough. Li Guanghua asked.
"Oh, because we have our own logistics system, which will be put into use together with the transit warehouse. β
Li Guanghua suddenly realized that he really did not investigate that Meigou had also built its own logistics system, because the transit warehouse had not yet been officially put into use, and the logistics system was attached to the transit warehouse, and now outsiders could not detect it at all.
At that time, Temasek analysts were still wondering, is land in the mainland so expensive, why is Meigou increasing its capital by 20 billion, and where is this money spent?
Meigou is not listed, and of course the internal financial data is not public, so the whereabouts of this money are not known except for the land purchased.
As for the price of the land, this is a trade secret, and outsiders have no way of knowing.
"If we can really achieve same-day delivery and next-day delivery, the competitiveness of Meigo.com will indeed be further enhanced. Li Guanghua also had to nod in acknowledgement.
"In addition, we have not only built a transit warehouse and our own logistics system, but also built a cloud computing center. LISA CONTINUED.
"Is cloud computing the same as Amazon's cloud computing?" Li Guanghua was taken aback.
It seems that there are a lot of secrets hidden within Meigo.com, and if it weren't for this equity transfer negotiation, it is estimated that these things would not have been known by themselves. At least you can't pay attention to these things until they are put into use.
"Yes, cloud computing, it's a new type of business, and now in the United States, the market for cloud computing is about $15 billion a year. As for China, Temasek must also be well aware of the vigorous development of the mainland market, so the mainland's cloud computing market share will not be smaller than that of the United States. We are the only mainland company that has invested in cloud computing data centers!"
Today's surprises can be one after another, for this cloud computing data center. When Amazon did it, many people sang about it, thinking that it was superfluous for an e-commerce platform to engage in this thing.
But in the past two years, especially this year, after Amazon's financial report came out, many people were shocked to realize that cloud computing is really a big market.
What's more, this data center can be rented in normal times, and it can also provide additional computing power for its own website at critical moments.
Just like the "Flower Season Shopping Festival" organized by Meigou.com, throughout the year, the website traffic skyrocketed on that day. If servers are purchased temporarily, they will be idle after the shopping festival, which is a waste of resources.
But with a cloud computing data center, there is no such waste. You can use it for your own use, and you can also rent it out for profit, which is simply a double win.
"IS ALL THIS STUFF TRUE THAT MISS LISA SAID, AND IS THERE ANY RELEVANT INFORMATION TO PROVE IT?" ASKED LI GUANGHUA CAUTIOUSLY.
This is also the proper meaning, it is impossible for LISA to say whatever it is. Maybe Meigou has invested in this area, but it has not yet been implemented, or it may be just a small cloud computing data center, just adding a gimmick.
"Of course, these things are not confidential now. Relevant software and hardware investment information is available here, and Mr. Li can take a closer look. AS SHE SPOKE, LISA TOOK OUT A THICK FOLDER AND HANDED IT TO LI GUANGHUA.
After taking it and looking at it a little, Li Guanghua said apologetically: "I'm sorry, Wang Dong, can you get here first today." I need to go back and take a closer look at this information and have a new discussion with the Investment Committee. β
This already means that Li Guanghua also recognizes the value of Meigo.com, which is not only 25 billion to 30 billion US dollars, but will definitely increase. But how much it can increase depends on the results of their re-evaluation after studying and confirming the data.
Wang Ye smiled and nodded: "It's okay, after Mr. Li's discussion comes out, please contact my secretary and re-arrange the interview time." β
"I should be free these days, don't I have any arrangements to go out?" Wang Ye turned his head and asked Liu Ruomei.
"There are no other arrangements for the time being, except for tomorrow's meeting with Mr. Sun of SoftBank. Liu Ruomei replied.
Li Guanghua, who was about to get up to say goodbye, was moved in his heart when he heard this, SoftBank! It's this Son Masayoshi again, he is really everywhere.
This time, Li Guanghua will not be naΓ―ve enough to think that only they Temasek has taken a fancy to Meigou.com. It is inevitable that he will face competition from many large investment banks, and Li Guanghua is also mentally prepared.
Before coming, he was full of confidence, thinking that the $20 billion valuation given to Meigo.com would definitely make Wang Ye overjoyed.
But the reality is not what he thinks......