Pioneers, true heroes, carved out a barren wilderness and threw themselves into it, turning it into fertile ground at large.

All pioneers, whether the final result is success or "burying their bones in a foreign country", they are worthy of respect, because they are the leaders of an industry and even an era.

For all the pioneers, Su Chenyu is quite respectful, but respect is respect, if he can't create benefits for himself, no matter how respectful he is, he will still be swept into the garbage heap of capital. For a big capitalist like Su Chenyu, only a pioneer who can create benefits for himself is his guest of honor and a "hero" who is praised by him.

Don't think that Su Chenyu is so ruthless and snobbish, but this is the reality - capital is always profit-seeking, besides, he was not a pioneer in the first place, but the "capital father" of the pioneers.

The Internet industry, the birthplace of the super-rich in the future, has given birth to countless billionaires and a coaxing "world's richest man". However, that is really only in the future, in this era, the Internet industry is a wasteland, although countless pioneers have already excavated in it, but it is still a wasteland to be cultivated.

As the first pioneers in the wasteland of the Internet, Yang Zhiyuan and David Ferro finally ushered in the most glorious moment with Yahoo, which they founded, - landing on the NASDAQ.

Yes, Yahoo, the pioneer of the Internet tide, finally ushered in its first "big test" - IPO after several years of development.

Two years ago, Su Chenyu's Ginkgo Fund acquired a 49% stake in Yahoo at a high price of $4 million, and since then, Yahoo, which is backed by a venture capital company, is like a hanging, crazy full speed forward.

Under this rocket-like development speed, Yahoo quickly became the absolute leader of the Internet industry, and it is no exaggeration to say that the Internet is directly equated with Yahoo in the hearts of many people. Really, this is really not bragging, Yahoo's position at this time is really so awesome, otherwise, they would not have started the second round of financing immediately after getting the first financing of the Ginkgo Fund.

Yahoo's second round of funding was not a mere $8 million valuation, but a whopping $30 million valuation. There is no doubt that this financing is led by Ginkgo Fund, but there is another venture capital fund that has followed. Naturally, this venture capital fund will not be someone else, but another venture capital fund under Su Chenyu - Pioneer Fund.

Yang Zhiyuan and David Ferro gave up 5% of the shares, Ginkgo Fund gave up 4% of the shares, and the Pioneer Fund paid $3 million for a 9% stake in Yahoo Inc. — officially becoming Yahoo's third largest shareholder. At this time, Yahoo's largest shareholder is already Ginkgo Fund, which holds 45% of the shares, and the combination of Yang Zhiyuan and David Ferro also holds 45% of the shares, but Yang Zhiyuan has 25% of the shares, while David Ferro holds 20%.

In 1995 alone, Yahoo conducted its third and fourth rounds of financing, and the company's valuation soared from $30 million to $100 million and then to $300 million.

In addition to the Ginkgo Fund and Pioneer Fund, which led the two financings, Tianchen Fund and Goldman Sachs Investment Bank participated in succession. Obviously, if Yahoo wants to do well in the next IPO, then Tianchen Fund and Goldman Sachs will have to get involved.

However, what Su Chenyu didn't expect was that in Yahoo's third and fourth rounds of financing, Sequoia Fund, which is well-known in Silicon Valley, was quite eager to participate. There is no doubt that Yahoo, the product of the first pioneers, began to attract the attention of a group of capital tycoons, who wanted to come in and get a piece of the pie.

Hehe, I have to say, these people are not bad, and they don't want to think about it, who is this guy Su Chenyu? If you don't blow it or black, I will ask you who else in this world knows better than him Su Chenyu how valuable this guy Yahoo is in the future. Perhaps, many capital institutions now value Yahoo to billions of dollars or even tens of billions of dollars in the future, but they would never have imagined that Yahoo would hit a staggering $120 billion market capitalization.

Therefore, this big cake, whoever dares to come and grab it from him, who is looking for death - what bullshit Sequoia Fund, even Morgan Stanley and Citigroup, he Su Chenyu will not give this face. Hehe, I just want to ask you, who has such a big face, it can be worth tens of billions of dollars?—— so, no!

After four rounds of financing, Ginkgo Fund became the largest shareholder of Yahoo with a 30% stake, and Pioneer Fund became the second largest shareholder with a 25% stake, which means that the control of Yahoo has fallen into the hands of Su Chenyu. As for the two founders, Yang Zhiyuan and David Ferro, they together own 25% of the shares, but they have the management rights of the company. Tianchen Fund and Goldman Sachs Investment Bank, as the main undertakers of Yahoo's IPO, so they shared 15% of the shares, and the remaining 5% was held by employees.

That's the embarrassment of startups and pioneers, who, even though they founded the company, end up with minimal shares. However, fortunately, the average capital father will not drive the entrepreneurial "pioneers" out of the company by himself.

After more than half a year of intensive preparations, Yahoo, the "pioneer" of the Internet tide, is finally about to start its own performance in the capital securities market.

In order to show the importance of Yahoo, this time the IPO was completed by Goldman Sachs and Lehman Brothers, and after a series of negotiations with the SEC, Yahoo finally decided on the final listing and offering - the initial offering price of $20, nearly double that of the previous life.

When Yang Zhiyuan and David Ferro rang the bell for listing on the New York Stock Exchange with Yahoo's top staff, Yahoo, a high-profile Internet pioneer, began its own performance in the capital market. Suffice it to say, countless people are staring at Yahoo's IPO journey, because he will directly determine the future fate of many Internet pioneers.

It didn't disappoint everyone, and Yahoo exploded on the first day of its launch......