Chapter 250: Josie's Premium Valuation Strategy
In a sense, Gu Heng said that he was ready to raise money because of lack of funds, which can be regarded as exposing his shortcomings. Pen "Fun" Pavilion www.biquge.info
And if a person exposes his shortcomings in front of others, he can analyze a lot of problems from the attitude of the other party more intuitively.
This idea was not born on a whim, but was carefully considered.
In this world, no one knows better than him how far Ali can go in the future, even the founders of companies such as Ma Yun and Cai Congxin cannot understand better than him.
And some of the information he knows is tantamount to heaven for Ma Yun and the others!
For example, Alipay, which was now transferred to Ali at a valuation of only 10 million yuan, who would have thought that it would develop into Ant Financial in the future, with a maximum valuation of nearly 100 billion US dollars? This is equivalent to almost half of Ali Group, which is enough to make anyone crazy.
For another example, some of the information about the development of Taobao in his head in his previous life, to a large extent, can make him avoid detours, shorten a time limit for him to reach the top, and can also drag out of the competition faster and ride away.
Out of self-interest, on the premise that he holds a high stake in Alipay and injects capital into Ali, of course, he hopes that Ali can take fewer detours and rise faster, so that the shares in his hands can be more valuable and cashed out earlier.
On the other hand, out of some psychology, he also does not want Ali's big cake to be grabbed by foreign capital such as Yahoo and SoftBank Group like in his previous life, and if possible, he hopes to participate in the capital game in the future and weaken the shares of investors such as SoftBank as much as possible.
In the morning meeting, the reason why he advocated the independence of Alipay was, to a large extent, also due to this consideration. Because once it is packaged and merged into Ali Group, it means that SoftBank Group, the investors of Ali, will also make profits in the future, and his personal rights and interests in Alipay will be greatly infringed.
However, if you want to weaken SoftBank Group's shareholding ratio in Ali in the future, he alone will not work in any case, Ma Yun, the biggest speaker in Ali Group, is silent, and he is a small shareholder who can't afford to make waves at all, but if he can join forces with Ma Yun, there is a lot of room for operation.
Based on this consideration, he thought about testing Ma Yun.
As the saying goes, knowing people knows faces but not hearts, in this game that is destined to involve earth-shattering interests, if the collaborator is not a trustworthy person, Gu Heng will definitely not make a rash move.
In the game of capital, he is still a little immature, and only by being more cautious and careful can he be the last person to laugh.
Ma Yun did not doubt him, and said: "I don't know about Goldman Sachs and other investment banks, the investment was contacted by Lao Cai at that time, as for Softbank, I personally hold a positive attitude, first of all, Sun Zhengyi, who is very keen on investing in the concept of the Internet, as long as your concept is novel and bold enough, he is willing to invest money, and he is very courageous." In addition, in the past two years of the Internet winter, the entire Internet industry can be said to be full of sorrow, Ali's life is not very comfortable, but SoftBank has given enough understanding and did not choose to withdraw halfway, which I am more grateful. ”
Cai Congxin answered on the side: "Mr. Gu, if you really plan to seek financing channels, I can match, now that the Internet winter has passed, foreign capital is very willing to find a good place for their own funds, with the potential of Mr. Gu's hands, it should be favored by capital." ”
Gu Heng said quietly: "I don't lack financing channels, what I lack is really bold investors, YY game platform in my concept, the concept is very big." ”
This is not to boast, Josie previously served as CFO, or chief financial officer, at Yahoo, and this role is essentially interspersed with the company and the capital markets. As the chief financial officer of Alibaba, Cai Congxin was able to find a way to raise funds, and with Josie's many years of experience working at Yahoo, it was not difficult to attract financing.
The meal revolved around the topic of financing for the YY game platform thrown by Gu Heng, but what was finally gained was Gu Heng's long-term decision.
From the current point of view, Ma Yun still attaches great importance to the cooperation with SoftBank Capital, and when his weight in the other party's heart does not exceed that of SoftBank, he rashly proposed to reduce SoftBank's shares with Ma Yun, and the effect should not be too ideal.
………
The ensuing negotiations lasted three full days before finalizing the specific details of the entire cooperation.
In the end, Gu Heng only won a contract with only 5 million funds, plus 60% of Alipay's shares, plus Taobao domain name, plus 5% of Ali's shares.
The reason why there is a huge difference from the initial cooperation agreement is that Gu Heng moved out Josie, a great god who is good at dealing with capital, and at the negotiation table, the lethality of this strong woman is obviously stronger than Gu Henglai.
Josie's strategy is very simple, since they are already planning to transfer Alipay, there is no need to hide it and throw out all the concepts directly. The Internet industry is like this, the bigger the concept, the more attention the other party will pay attention to, and the higher the valuation of the product.
Just like Ma Yun at the beginning, he only had a newly established Alibaba in his hands, but he got an investment of 20 million US dollars from Sun Zhengyi, and he did only pay more than 30% of the shares.
In other words, the total valuation of Ali at that time reached 60 million US dollars, which naturally did not rely on an unknown Alibaba at the time, but Ma Yun's concept of e-commerce, which was a premium valuation far beyond the actual value.
In the same way, Alipay, which has the potential to become an online bank in the future, can obtain a premium valuation as long as the concept is laid out.
Before, Gu Heng was worried that the cooperation would not be successful, but he told all the concepts of Alipay in advance, which would allow Ma Yun and others to steal this concept of the times, so as to develop their own payment platform, so that the Alipay in his hand became a chicken rib that was tasteless and discarded.
But Josie proved with his actions that Gu Heng was too worried!
Alipay will not become a chicken rib, the key is what step it can do, as long as Ma Yun and others show an attitude that they will invest at all costs in order to make Alipay work, the other party will be jealous.
Because Alipay's products were developed by you, Gu Heng, you definitely have more say in the concept, and if the other party doesn't accept your bid, you will face a strong opponent who is better at operating this product than them.
On the contrary, if you take it, it will not only harvest a product with far-reaching development potential, but also harvest all the concepts in Gu Heng's head by the way. After all, as the second largest shareholder of Alipay, Gu Heng hopes that it will achieve long-term development.
In fact, as Josie said, when Alipay's long-term development concept was thrown out, Ma Yun and his friends were stunned.
Relying on Alipay to accumulate huge funds, then expand financial derivatives business, and finally develop into an online bank covering the entire network circle, this concept is really, too crazy, and too attractive.
It can be said that this is a great concept that is in no way inferior to building the era of e-commerce.
At that moment, the powerful beauty vice president invited by Gu Heng lost her dazzling aura in the eyes of Ma Yun and the others, and what they wanted to do most was to run and lift Gu Heng's head to see what was in him.
In the end, Alipay relied on the addition of the concept and Josie's strong negotiation methods, and its value directly increased by three times, and finally obtained a valuation of 30 million. In other words, Ma Yun finally invested 18 million to win 60% of Alipay's equity.
On this basis, Gu Heng only needed to contribute 5 million in the end, plus the Taobao domain name, and got 5% of Ali's shares.
It is worth mentioning that Ma Yun's transfer of 5% of the shares from the Ali team's own shares this time is not a capital increase and share expansion, and he did not elaborate on the cooperation with SoftBank and other shareholders.
Because after learning about the concept of Alipay, Ma Yun and Cai Congxin have completely given up the idea of Ali Group controlling the 60% of Alipay's shares, but plan to firmly control the hands of their own team, and do not plan to share it with investors such as SoftBank.
When they finally left, Ma Yun and the others looked at Gu Heng with a completely different look, Alipay, a concept far ahead of the previous era, completely conquered them.
It is true that in the previous negotiation strategy, Gu Heng's performance was unsatisfactory, but this is not a weakness, after all, no one is perfect, and he is proficient in all aspects, that is not a person, but a god.
With the successful case of the YY platform in the front, the concept of Alipay, the future of online banking, and the assistance of professionals like Josie to make up for its shortcomings, they are sure that Gu Heng's future will be limitless.