"It can't be. Hearing Chen Qiaoshan's offer, Li Xiaojun immediately objected.

To be able to enter this industry, even if it is not a human spirit, no one is willing to be the head of the wrong, buy it for a million dollars, but it is reversed, and the valuation has risen thirty times in a blink of an eye, although there is room for bargaining in the middle, which is also unacceptable.

"Mr. Li, don't be in a hurry to make a decision, I suggest you take a look at the recent financial situation of 5173 first, and then let's talk about it. Chen Qiaoshan has no plans to rush IDG Capital out.

Expansion requires a large amount of money, if Tsingshan Capital bears it independently, the pressure will not be small, the best way is to follow the investment, which is also the helplessness of small and medium-sized investment funds, can only follow the big guy to pick up the leftover leftovers, this also needs to pull the relationship to find a way, otherwise, you can only fight alone, small arms and legs, it is easy to be eliminated by the market.

The valuation of 5173 is a little higher, but Chen Qiaoshan definitely has no intention of taking advantage of the fire to rob, and he does not expect IDG Capital to be the big one.

The financing amount of 10 million US dollars is indeed a lot, but it is an e-commerce platform, if the A round is not speculated, I am really sorry for the future industry outlet.

Dong Qifeng took out a few documents in a timely manner, and each of the two sides of the negotiation had one.

This is the financial statements of 5173 in the last two months, for the people in the field, the content is not complicated, the company has no debts, the cash flow is normal, and the average monthly turnover in the past two months has exceeded three million, the net profit has exceeded 150,000, and the profit margin is amazing.

"Is this all true?" Li Xiaojun subconsciously felt that there must be something wrong with this account.

Long before Chen Qiaoshan, IDG Capital has done due diligence on 5173, although Zhang Bingxin's management ability is not very good, but the company does make money, there must be three and a half million a year, but to say that the net profit of 150,000 a month, this span must be suspicious.

Dong Qifeng is not happy, he has fully taken over 5173, and he has the most say in the company's situation, and the report has also been signed and confirmed by him.

"Mr. Li, if you don't recognize the data, you can do the due diligence again, and I will fully cooperate. In front of the boss, although Dong Qifeng did not directly refute it, he also responded to Li Xiaojun's questioning neither softly nor hard.

This is Dong Qifeng's hard work, of course, no one can question it.

For example, publicity, Zhang Bingxin started by doing private clothes, and the propaganda method is very old-fashioned, that is, hiring people to swipe the screen in various games, and for this reason, a group of people were specially recruited.

Dong Qifeng is the boss of the laggards, and he is deeply connected, and his publicity channels are naturally not comparable to Zhang Bingxin, but he has done half a month of network promotion, and the effect is remarkable, and the 5173 business volume in the integration period has increased instead of falling, and the profit growth is also expected.

Li Xiaojun could hear that there should be no problem with this report, and he was a little hesitant for a while.

Startups generally struggle to break even, let alone make a profit, which is also an opportunity for venture capital, but 5173 is clearly an outlier.

Chen Qiaoshan saw Li Xiaojun's hesitation, he glanced at Jia Yinan, the latter understood, and then said: "Mr. Li, for the offer of 5173, Tsingshan Capital is recognized, since Mr. Chen has a verbal agreement with you, I don't think it is better to cooperate with you and me to take over this list together, of course, we can discuss the share of capital contribution, and it is also possible for us to lead the investment." ”

Large-scale financing like this, along with other funds, weakens returns, but also diversifies risk.

Especially in PE, due to the relatively large amount of funds involved, it is difficult to eat alone.

Although crowdfunding can be funded, the rights and obligations of leading and co-investing are completely different.

The lead investor must subscribe to most of the investment shares, in addition, but also enjoy the absolute right to speak, if you can get a board seat or a veto power, it will definitely not fall into the hands of the co-investor, in addition to the co-investor according to the proportion of investment dividends, everything has to be the lead of the lead.

Li Xiaojun's face stiffened, the difference between leading investment and co-investment is not limited to the amount of capital contribution, but also related to the face of various investment institutions.

If it is really as Jia Yinan said, IDG Capital let a new fund lead the investment, if the news spreads, it will not only invisibly raise the value of Tsingshan Capital, but also make people laugh.

Li Xiaojun understands that with the financial status of 5173, there is a high chance that the project will be handed over to the investment decision-making committee.

When it came to this, he had only two choices, either lead the investment and accept the $30 million valuation, or abandon the project.

If Chen Qiaoshan's blackmail is easily accepted, Li Xiaojun is very unwilling, but if he gives up this project, he feels a little aggrieved.

was silent for a long time, and finally under the reminder of the assistant, Li Xiaojun came to his senses, and after a little hesitation, he said: "Mr. Chen, let's stop here today, I'll go back and communicate with the above first, whether I can lead the investment or not, let's talk about it later." ”

Li Xiaojun didn't mention the matter of co-investment at all, and everyone present was not surprised, if you want IDG capital to follow the investment, there are really few VCs that can do it at the moment.

Chen Qiaoshan naturally agreed, "No problem, but please ask Mr. Li to make a decision as soon as possible, before New Year's Day, the financing must be implemented." ”

There was still more than half a month, and there was plenty of time, so Li Xiaojun agreed, and then left immediately.

……

Sending people away, Jia Yinan followed up with Chen Qiaoshan's office.

Others don't know, but she knows the actual situation of the company, and she can indeed get out 10 million US dollars, but if she invests it all, the account will be empty, and the so-called lead investment is just a joke.

"Boss, it's okay, fall in love more and get married less, your consciousness is high enough. There were no outsiders present, Jia Yinan couldn't help but joke.

"That can't be, in my place, anyone who falls in love without the purpose of marriage is a hooligan. Chen Qiaoshan said that he had lived two lifetimes, and when it came to the ability of jokers, there were really few who could beat him.

Jia Yinan didn't believe his nonsense, "Okay, you still keep this to fool your girlfriend, I'm very curious, if Yan Xiaoqin hears that, what will he think?"

"As long as you don't say it, she definitely doesn't have any ideas. Chen Qiaoshan replied with a smile, his original intention was to be cautious in investment, not to people, which is good for both parties.

Even if it's a hooligan, it's better than being played by a hooligan.

Just like the grievances between Meizu and Xiaomi, before Rebus made a mobile phone, he first entered Meizu in the name of an investor, regardless of whether he stole the teacher or not, the suspicion of this melon field and Li Xia could not be cleared, and it was no wonder that Mr. Huang scolded him repeatedly.

Jia Yinan didn't have the heart to talk about these digressions, she asked: "Even I think the offer of $10 million is a bit outrageous, will IDG agree?"

"I will definitely say yes. Chen Qiaoshan's answer was quite affirmative.

"Why?"

"Because 5173 is an e-commerce, and it is an e-commerce that has achieved profitability. ”

Jia Yinan was a little confused, and asked again: "It's that simple?"

"Of course. Chen Qiaoshan is quite sure that although later generations will call Shen Nanpeng the godfather of investment, IDG Capital is the real industry leader, as early as 99 years, they spent two million US dollars to invest in 8848.

This is the first e-commerce website in China, raising more than 60 million US dollars before and after, and investors including Yang Zhiyuan and other big names have even walked to the door of the NASDAQ, but the result is a failure.

In the middle of the year, Taobao's continuous financing of hundreds of millions of US dollars has re-hyped the popularity of "e-commerce", and Chen Qiaoshan believes that as long as he grasps this, he will not worry about IDG capital.

Jia Yinan shook his head again and again, "It's said that the Internet bubble has burst, I can't figure it out, isn't this a valuation bubble?"

Chen Qiaoshan said with a smile: "Banks make money by interest rate spreads, venture capital makes money by price spreads, which includes the basic price spread and the bubble spread, there must be a bubble in the valuation, but you have to figure out that even if it is a bubble, as long as it can be sold, it is still valuable." ”

can say that speculation is so reasonable, except for Chen Qiaoshan, there is no one.

Jia Yinan didn't have the heart to refute, she really wanted to see if IDG Capital would take over this bubble-filled 5173 as Chen Qiaoshan said.