Zhang Chen and McGovern have negotiated some details of joining IDG, because Zhang Chen's capital is much stronger than Xiong Xiaoge, so although he joined IDG a long time later than Xiong Xiaoge, he also got the position of a special partner, IDG has an overall budget of 200 million yuan to him every year, and the investment below 50 million yuan does not need McGovern's approval.

Zhang Chen, who had negotiated with McGovern, pulled Xiong Xiaoge back to Lu Hongliang's townhouse again, and Xiong Xiaoge had no choice but to follow him.

Starcom's team was quite surprised to see Zhang Chen come back so soon, and they showed hopeful eyes one by one.

Zhang Chen smiled: "With an investment of $25 million, I have persuaded Mr. McGovern of IDG, and he agreed to invest $20 million in IDG in exchange for a 30% stake in Starcom. ”

Everyone was slightly disappointed at first, and then felt a deep sigh of relief, although it was 5 million dollars less than their expectations, but it also solved the urgent need. And 20 million US dollars is a lot, and it is definitely enough to hold on to HPS when it lands and blossoms.

Zhang Chen smiled and said: "But there is a premise for investment, that is, the angel round investors who have no management rights must be cleared, and for this reason, we are willing to acquire the $250,000 shares invested by Mr. Xue Biqun at a price of 2 million US dollars." ”

Everyone brushed their eyes on the gray-haired Xue Biqun. Xue Biqun hurriedly said: "Why? Is it easy for me to take out $250,000 two years ago? Can you hold on to this day without me? Oh, now that you have an investment, you want to throw me out? No way!"

Lu Hongliang comforted: "Manzi, don't worry, everyone didn't say that they were going to throw you out." After that, he said to Zhang Chen: "Zack, isn't it too much to do this, Lao Xue still has a great contribution." ”

Zhang Chen still had that harmless smile: "Mr. Lu, we are not targeting anyone, the current equity structure is unfair to our investors, I believe that in your equity setting, there is also a corresponding exit mechanism, frankly speaking, more than a year, 800% return on investment is already very high." And that's also a common practice in the venture capital industry, and I don't think we're going too far. If I hurt Mr. Xue's feelings, I'm also sorry. ”

When Zhang Chen said this, several other partners were also concerned. Xue Biqun is the investor introduced by Lu Hongliang, Lu Hongliang is the major shareholder, and everyone usually doesn't say anything. But no one's capital investment is less than Xue Biqun's, and almost all of them are devoted to the company. Especially Xue Cunhe and others, who originally had no friendship with Xue Biqun, agreed to invest in him because they heard that he had a strong relationship in China and could help the company open up the domestic market. But for more than a year, Xue Biqun hasn't even returned to the country, and when he encounters something, he haha, and spends all day drinking with his beautiful wife who just got married, and everyone has a lot of opinions in private.

Xue Biqun choked angrily: "Damn, can it be the same? After you go public, you can get a hundred times the return on investment, and when you come to me, it will be eight times? And even if it is the industry practice of 500% return on investment to recover part of the equity, it has not been completely cleared, right?"

Zhang Chen's eyes lit up, and what he wanted was Xue Biqun's words, "It makes sense for you to say so, so let's do two plans, one is that the proposal of IDG just mentioned remains unchanged, and the other plan is that we acquire 50% of your shares at a premium of 500% of the amount you invested, and your remaining 50% of the shares can be retained until the IPO, what do you think?"

Xue Biqun's nose was almost crooked, "You use 62 . It's too dark to want to take away 50% of my shares for $50,000, right?"

Zhang Chen shrugged regretfully, "Then there is no way, frankly speaking, I understand that it is not very likely that the business of investing in Starcom will be lost." The stake in your domestic telecom business can be valued at least about $5 million, but the problem is that your follow-up HPS business is really too risky. Therefore, if IDG does not try its best to reduce the investment risk and reduce the number of investors, the investment value is not large. In short, the conditions of the IDG have been thrown to you, and you can negotiate it yourself. In business, we are not targeting anyone, but only protecting our own interests. Zhang Chen threw the contradiction back to the Starcom team and hid aside.

Seeing that the two sides had entered a stalemate, Huang Xiaoqing said quietly: "Manzi, I think it's okay, you just took 250,000 US dollars out last year." You have money now, and now you are in urgent need of financing, we are looking for you to invest in you or not, and there has been another change in SoftBank that you have contacted with the old road. Besides, it was stated in the agreement that if you can't work in the company and make corresponding contributions to the company, other shareholders have the right to recover the shares in the hands of the shareholder at three times the price. Several other people also chimed in, seeing that Xue Biqun had become a loner.

Xue Biqun was anxious: "Huang Xiaoqing, I drafted the uncle, you have a sick brain, right?

Huang Xiaoqing also glared, "Xue Biqun, don't think I'm afraid of you, you'd better keep your mouth clean, do you think it's great to know a few American underworlds?"

Lu Hongliang is the eldest brother, he is kind, and he hurriedly played a round, but both of them scolded out of anger, and they made a fuss for a while. I could only helplessly say to Zhang Chen: "Zack, you have also seen the situation, you are really unkind to do this, we don't want IDG's investment, I believe SoftBank will always give us an explanation." ”

Zhang Chen said leisurely: "Mr. Lu, you are a kind person, I admire your character." But in business, we can only prescribe such conditions. And you must know that IDG's investment is more valuable than SoftBank, after all, we know more about the U.S. capital market than SoftBank, and we can provide greater assistance in future IPOs and other aspects. ”

Wu Ying said suddenly: "Old way, I think what Zhang Chen said makes sense, so let's do it, if the investment is in the account, we will give another $200,000 to Manzi each, which can be regarded as compensation for his concessions." Manzi, don't get excited, think about it, this may not be a good thing. After all, the HPS we want to do is very risky, and if you are not sure, cashing out as soon as possible may not be a better choice. Don't be angry. ”

Xue Biqun calmed down, in fact, he was not optimistic about HPS. As the first generation of international students who came to the United States in the early 80s, there is a kind of American cult from the bones, although he does not understand technology, but he also understands that HPS is a communication technology that is about to be eliminated in Dongying, and at present, the whole world, including China, are using GSM as the standard for mobile communications.

Xue Biqun thought about it in his heart, and was surprised to find that in fact, Zhang Chen's first plan was not too much of a loss for him, he had about 8% of the equity in his hand, and after 20 million US dollars came in, the equity in his hand would be diluted to about 5%. Even according to the valuation, it is less than 4 million. Coupled with the 200,000 compensation that several other people promised to each of them, it properly exceeded the valuation. If you strongly ask for it, you should be able to fight for more, but now that the funds are coming in soon, there may not be no possibility of an IPO. If the listing is really successful, I will lose a lot of money, and I am really unwilling.