Yang Bo was convinced.

Not only that, but he was even a little glad in his heart, if he hadn't met Chen Qiaoshan, he might have to take a lot of detours.

Yang Bo was a little curious, and he could see that Chen Qiaoshan was much younger than himself, but when it came to specific projects, he was the first to say in simple terms, and he was not weaker than others.

Thinking of yesterday's bold speech, Yang Bo was very surprised, he couldn't help it anymore, and asked directly: "Mr. Chen, have you done it in a foreign Internet company before?"

Chen Qiaoshan was a little surprised, "Why do you ask that?"

Yang Bo said: "I have been abroad, and the investment environment there is relatively open, but after returning to China, I found that the situation is not very optimistic. ”

"I've asked people, and so far, there doesn't seem to be a specific angel investment, and you should be the first. ”

Leng Buding was used as an honorific, and Chen Qiaoshan was a little unaccustomed to it.

People said to respect Luo Shang first and then respect people, but now that he believes it, Yang Bo was confused by his words, of course, it is more likely that he was impressed by Chen Qiaoshan's set of suggestions.

For the so-called first person in angel investment, Chen Qiaoshan is also listening.

He knows that he must not be able to afford it, and if he wants to be a professional angel investor, he must be qualified.

"You think too much, I haven't been abroad, and I've been to the Hong Kong SAR as far as possible, but I'm doing finance, and as for this little bit of understanding of the Internet, I learned it from my predecessors. ”

Chen Qiaoshan's words are justified and confident, without the slightest sense of regret, no matter what the process is, the conclusion must be correct.

"By the way, I heard you're going to change the name of your website?"

"There is such a thing, it is not a good word to be related to donkeys, I discussed it with my friends, and I am ready to change my name to Douban, and the domain name has been registered. ”

After speaking, Yang Bo was a little strange.

Not many people know about this matter, so it shouldn't reach Chen Qiaoshan's ears, he said curiously: "Mr. Chen, how did you know about this?"

Chen Qiaoshan told Liao San about meeting Liao San at the cocktail party that night, even if he knew that Douban's domain name was not going to be literary and artistic, he was not ready to interfere, the habit was two-way, and it was a process of mutual adaptation.

Taking the contract that had been prepared long ago, Chen Qiaoshan said: "This is the financing agreement of Tsingshan Capital, you can see first, if there is anything you don't understand, or you are not satisfied, let's communicate on the spot." ”

Yang Bo knew that the time to see the real chapter had come, and he was also a little expectant, not knowing what the other party would ask.

took the folder and opened it, Yang Bo was dumbfounded.

One piece of paper, one piece of paper for the whole contract!

It should be two to be exact, in duplicate.

Not only Yang Bo, but even Tuo Xiaoxue, who was watching the excitement on the sidelines, was also taken aback.

Although she had never seen the model financing agreement, she also knew that involving a huge amount of more than 800,000 yuan, this paper contract was too child's play.

Yang Bo is not a person who does not know the importance of the matter, I think that in the United States, he signed a work agreement with IBM, and signed a total of thirteen or fourteen legal agreements including wages and benefits, social insurance, working hour restrictions, overtime compensation, health protection, etc., each of which was feared to be not rigorous.

Although it was the first time to sign a financing agreement, Yang Bo also knew that the situation should not be like this.

It's good now, just a piece of paper, how can people be reassured?

With this financing agreement, Yang Bo felt very unbelievable, and he didn't know what to do, and he even suspected that he had met a liar.

Yang Bo didn't have the heart to look at the specific framework agreement carefully, he asked directly: "Mr. Chen, you're not joking, are you?"

For the immediate effect, Chen Qiaoshan is very satisfied.

Either you don't do it, or you have to do it and play back.

He has long been ready, either he will not sign it, or he will sign a contract where everyone is the same, and on this basis, the hat of his entrepreneurial mentor is fixed.

Of course, this is not Chen Qiaoshan's original, he is just copying the precedent of Zhen Fund.

"Why, am I like a joker?"

Chen Qiaoshan showed a little dissatisfaction on his face, and then said in a deep voice: "You should take a serious look at the specific terms of the contract, you can rest assured, Tsingshan Capital is a responsible investment fund, and it will not joke about entrepreneurship." ”

Chen Qiaoshan knows very well that no matter how strict the terms are, they are also anti-gentlemen and villains, especially when it comes to venture capital.

No matter how many restrictions are written, no matter how strict the contract is, it is still a blank slate when encountering an unreliable entrepreneur, and with his ability, it is better to do the opposite, and there may be unexpected gains.

Yang Bo had nothing to say, so he had to look at them one by one.

But as soon as he looked at it twice, he suddenly exclaimed, "What, 30%?"

"Mr. Chen, this is too outrageous, Tsingshan Capital is going to take 30% of the equity at once, how can we raise funds in the future? And we don't have the right to repurchase, this is not in accordance with the rules, right?"

Chen Qiaoshan didn't have any surprised look on his face, and asked very calmly, "What, do you think it's too much or too little?"

Yang Bo almost didn't come up in one breath, what kind of person is this, the previous good feeling suddenly disappeared.

He secretly thought in his heart that this might be the true face of the capitalist.

"Mr. Chen, the general seed round or angel round of financing, according to the convention, never exceeds 20%, you directly ask for 30%, and there is 15% of the option pool, and I and a few partners only have 55% left, how will I raise funds in the future?"

Chen Qiaoshan said in a good time: "I have more than tripled the financing amount, it is reasonable to take more equity, right?"

"And according to the plan you made, 250,000 yuan is enough for several years, and I will directly help you do the A round of financing, it's not too much to take 30%, right?"

"You can't say that, right?" Yang Bo had also seen the world, and he didn't mean to give in at all.

How can he say that he is also from Tsinghua University, and his brain is spinning fast, "According to you, the valuation of Douban's A round is less than three million?"

"Besides, the money may not last long. ”

"There is a way to live a poor life in a poor day, there is a lot of budget, the operation plan will naturally be modified accordingly, and there will definitely be promotion, no one knows how long this money can be burned, financing is only a matter of time!"

Obviously, Yang Bo is not a doctor, and with this insight and eloquence, it is no wonder that Douban has been able to persist for so many years.

The key issue was grasped, but Chen Qiaoshan didn't care.

"Is three million very little, you go and ask now, in the entire Zhongguancun, not to mention seeds and angel rounds, let's talk about VC, how many companies can achieve a valuation of more than three million?"

After a pause, Chen Qiaoshan said earnestly: "Angel investment is the riskiest investment, you also have to consider our difficulties, besides, not everyone is Wang Zhidong, can easily pull investment from overseas, you must have heard of it, now the industry environment is sluggish, it is better to be pragmatic first." ”

Yang Bo was also speechless, he knew the difficulties of this industry, otherwise he would not have been willing to go far and open the company outside Yanjing.

It's frustrating, but that's the reality.

Even though he knew that Chen Qiaoshan was telling the truth, Yang Bo still resisted a little in his heart.

He is not stupid, this is an anti-takeover clause, and it is also the right of first refusal, the right of conversion, and the right of listing registration, he knows that once this agreement is signed, he is likely to lose control of Douban in the future.

Yang Bo knows that entrepreneurship is unemotional.

In the face of capital, the future situation is undoubtedly quite dangerous.

Seeing that the other party's face was constantly changing, Chen Qiaoshan was very relieved, and he was completely sure to persuade the other party to agree.

"Then again, you don't have to worry about promotion at all, which saves a lot of money and reduces the number of financings. ”

Yang Bo was stunned, doing IT, whether it is software or website, the most important thing is promotion, it is impossible to spend money, he asked: "Mr. Chen, how do you say this?"

"Tsingshan Capital has not only invested in you, but only this webmaster meeting, including Douban, has invested in a total of 19 projects. ”

"And I have invested in a few before, such as the Qingshan Forum, the Laggard Forum, and a mess, if you want to promote, can we help each other internally. ”

Chen Qiaoshan's words are undoubtedly very demagogic, Yang Bo is tempted, there is no way, this condition is too tempting.

If nothing else, just one mess is a gold mine.

Nowadays, Internet products, especially social products, basically start from Wudaokou.

This was the case with ChinaRen back then, and the same will be true for the school intranet in the future.

At the beginning, Wang Xing was in Peking University, Tsinghua University and the National People's Congress trial operation, if the product can occupy these three campuses, it can also be promoted to the whole country, this is not only a pilot, but also a good publicity template.

Chen Qiaoshan saw this, so he seized the opportunity to open his mouth.

Yang Bo knows that among the users of Douban, college students and white-collar workers occupy the absolute main force, and it is really difficult for him to firmly refuse.

Chen Qiaoshan continued to bewitch: "Don't just stare at the equity, look at all the terms, you have to believe in us, believe in the sincerity of Tsingshan Capital, we are here to provide services for entrepreneurs, not to squeeze you." ”

Although the other party's tone was very serious, Yang Bo was uneasy.

The more he talked, the more unreliable he became, and he had a feeling of being stared at by his grandmother wolf, and he was simply chilled all over his body.

Tuo Xiaoxue has been silent, witnessing the whole process of negotiation and succession.

She finally understood why Chen Qiaoshan could suddenly rise, just with this shameless strength, she really couldn't find a few opponents who could match.

It's too embarrassing, isn't it just trying to trick people into signing a contract, as for being so level-inadequate?

Yang Bo was also very helpless, he had to continue watching, but the more he looked at him, the more frightened he became.

It's not that the conditions are too harsh, but that they're too broad.

In addition to equity, there are almost no restrictive clauses, such as the common preferential liquidation rights, redemption rights, preferential dividend rights, and compulsory sales rights.

Yang Bo was a little incredulous, he really couldn't understand it, wasn't the other party afraid that the investment would not be successful.

After hesitating for a moment, he reminded: "Mr. Chen, don't you have the right to give priority to liquidation?"

Although he is very confident, Yang Bo is not 100% sure that Douban will be successful, and it is good to have three achievements.

Once the project can't be done, there are still messy real estate such as servers, office supplies, and venues, and if they can be claimed first, these assets can also help investors recover some losses.

In Tsingshan Capital's agreement, in the event of liquidation, 30% of the shares will be directly converted into ordinary shares with the same rights as the founders.

Waiver of the right to preferential payouts, which is quite friendly to entrepreneurs.

Chen Qiaoshan said in a very tone: "You don't have to think too much, as long as it is not in the framework agreement, we will not ask for it." ”

"Tsingshan Capital's investment principle is mutual benefit and win-win results, we value the ability of entrepreneurs, and it is our fundamental purpose to help you. ”

"I don't think anyone wants to fail, but entrepreneurship is risky, and if it really comes to the point of bankruptcy and liquidation, we will admit it. ”

"Winning or losing is a common thing, we are willing to cooperate with entrepreneurs with the greatest sincerity, even if they fail, they will not only take into account their own interests, and cooperate with each other, always leave a little life security for entrepreneurs......

The scene quieted down, Yang Bo was a very rational person, but after these words, he was very moved.

If you don't see it with your own eyes, you don't believe it when you kill him, there will be such an investor, and it's no wonder that he is known as an angel.

Tuo Xiaoxue is also the same, and her heartfelt words made her almost cry.

If she hadn't been deceived by Chen Qiaoshan, she would have almost believed it, and reason kept reminding her that this guy must have other plans, but she didn't see through it.

Chen Qiaoshan was like a mirror in his heart, reluctant to let the child not be a wolf, if it really came to the point of liquidation, with his net worth, he didn't care about the three melons and two dates, he just spent money to invite fame.

Chen Qiaoshan knows very well that with his own ability, it is not easy to lose money.

That is, for a potential project like Douban, he will bother to fight for equity, as for those foils, it will be done with 10%, and if you lose, you will lose, but the name of a conscientious angel investor must be implemented.

Chen Qiaoshan is a typical example of being cheap and selling well, and he has to do the best in terms of face.

He knows very well that after this battle, Tsingshan Capital will become the first choice of many entrepreneurs.

"Mr. Yang, let me remind you that this agreement is not without any restrictions on entrepreneurs. ”

Yang Bo was stunned for a moment, "Are you talking about the share restriction clause?"

Chen Qiaoshan nodded, "From the signing of the agreement, the founding team can only deliver a quarter of the equity every year, whether it is dividends or non-financing transfer of equity, it is restricted, to put it bluntly, you have a four-year confirmation period." ”

"Not only that, if you do other projects, Tsingshan Capital also has a right of first refusal, as for the exclusivity clause and confidentiality clause, I don't think I need to say more. ”

At the beginning, Zhang Yiming made today's headlines, and quietly took the money from Haina Asia, but Wu Shichun, who did not find the Kuxun Gang, was not far ahead, in order to prevent trouble, Chen Qiaoshan can be said to have made sufficient preparations.

But even so, this investment agreement is too simple, compared to other venture capital, it is simply doing charity.

After just a little hesitation, Yang Bo made up his mind.

"Mr. Chen, I'll sign!"