Hang Yu's idea is to suppress Meituan for a while and consume the other party's financing times, because Wang Xing's shares are limited, and the more financing times, the less his shares will be, and in the end he will not be able to raise funds. Fastest updates

Usually, a growing company often needs 4-5 rounds of financing before going public, and in typical cases, the company can be divided into several stages according to the number of financing rounds.

In the initial stage, the shareholders contribute their own registered capital, angel round financing, and angel investors invest according to the situation.

The angel investors of the products that come out of the software park are basically Jiangyan companies, and the angel round of financing is the most challenging vision, and once the investment is successful, it will make a big bargain. Even if other investors fancy a certain product before Jiangyan, Jiangyan has the right to request investment first.

Angel round financing usually takes 10%-20% of the shares, and Jiangyan Company started with a maximum amount of 30%, which is more harsh to some extent. Now it is changed to the maximum amount of 10%, and the conditions become full of benefits.

Therefore, a lot of money was spent on the construction of the software park in the initial stage, and as the software park continued to expand and produce more and more products, Jiangyan Company would earn more and more, forming a virtuous circle.

There are many software parks across the country, but they are as successful as Jiangyan Company, and there are no ones for the time being.

In the last round before the A round of financing, the product has been launched at this time, but there is not much data performance yet, and it is necessary to raise a sum of money to support the team to continue verification. The financing amount is usually around a few million, while the product valuation can reach tens of millions.

At the time of Series A financing, the basic model of the product has been run through, and capital is needed to continue to expand. The amount of financing is usually tens of millions of yuan, and the company's valuation can reach several hundred million, which has increased tenfold.

At the time of Series B financing, the product has been rapidly increased, and the business model needs to be verified, that is, the ability to make money. The financing amount at this stage is between tens of millions of dollars, and the valuation of the product can reach hundreds of millions of dollars.

In the C round of financing, the business model was successfully verified, and the opponent was overwhelmed by the amount of capital, because the large-scale earning ability has been verified, so theoretically it should be the last round of financing.

Company valuations in and after Series C are difficult to predict and can only be measured by profitability at scale. The amount of financing is evaluated by the enterprise according to the financial statements of its own business development forecast, that is, Wang Po sells melons.

As far as Hang Yu knows, Wang Xing still owns about 28% of Meituan's shares, and this person is very tight every time he raises money. That is, according to Meituan's needs, control the amount of financing and minimize the dilution of shares.

Wang Xing controlled the financing process very well, so Meituan not only developed, but he also kept as many shares as possible. But Meituan did not have an advantage, but was surrounded by group buying and Ele.me, and was in trouble.

At this time, no matter how much Wang Xing wanted to keep the shares, it was impossible to control the financing amount.

It is better to keep fewer shares than to hang up Meituan.

Hang Yu estimates that Wang Xing will raise money once, and with Meituan's share value at this time, the financing amount will be very large. Meituan wants to break through the blockade of group buying and Ele.me, this is the last chance, and Wang Xing should be ruthless.

If you raise a small amount of money, you can raise money many times, but it is just a tactic to add fuel.

As I said just now, in addition to looking at the development of products, follow-up financing largely depends on one mouth. Some products are obviously operating at a loss, but they can be said by the operators to be extravagant and receive a lot of investment.

For example, those shared bicycles rely on marketing and mouth.

In fact, there is no future for shared bicycles in China, first of all, China's public transportation is too developed, buses, subways, high-speed rail, taxis, etc., can basically meet the travel needs of most people.

Secondly, the management of shared bicycles is a difficult problem, a broken bicycle, and many users do not care about it even if it is damaged. And he threw it casually after riding, and lost some paint, and it was impossible for the company to chase after others and ask for dozens of yuan in compensation. Some people say that the quality of Chinese people is not good, but there are some in this regard, after all, there are more than one billion people in China, and you still think you are living in heaven without a few stupid beeps.

The forest is big and there are all kinds of birds, and the company can't manage this thing at all, unless the government helps maintain it.

In addition, China's small cities have small demand, and large cities are densely populated, and the streets are full of cars and people, which is not very convenient for cycling. It's also not expensive to buy an electric car.

Finally, the technology content of shared bicycles is so low that any small workshop can produce them, which leads to anyone being able to do it. The first thing to do is to open the way for future generations, and wait for the predecessors to work hard and burn countless funds to create a suitable sharing environment.

Believe it or not, a whole bunch of bike-sharing companies will pop up right away.

Because the environment is good, who can't do a shared bicycle?

There are many people who do it, and the problem comes again, the competitive pressure is too great, and there may be dozens of bike-sharing brands in a first-tier city. There are even several brands in a square, which one is better?

When the time comes, we will play a price war again, continue to fight, continue to kill, and in the end, no one will be able to lose the benefits.

Among the many Internet models, sharing bicycles is the one that Hang Yu looks down on the most, and he doesn't play this even if he is killed. If you don't have core competitiveness, you have to rely on throwing money, and you can develop a good technology by spending that money.

To make products, Hangyu must make a unique model and make core competitiveness.

What is the core competitiveness? It is something that others can't make, only I have the technology, or the soil.

The technology is easy to understand, what is soil?

For example, tropical fruits, if you put them in Siberia, they won't survive, that's the soil.

The core competitiveness of Weibo series products is not technology, because the technical difficulties are not high to make a social software. Its core competitiveness is the soil, including the all-in-one card-style membership model, the original protection profit model, the self-media original model and so on.

These things have maintained a series of products on Weibo and most of the products of Jiangyan Company, forming a huge fertile soil!

With this fertile and vast soil, Hangyu can plant things on it, and as long as it is planted correctly, it can basically be harvested. Other enterprises also have their own soil, but they are not as vast and rich as Jiangyan's company.

Users are the people who live on the soil, and they can only operate well by giving full play to their strengths.

"But if we don't take advantage of the current situation and use the money from internal financing, it will be more difficult to defeat them in the future. Dong Ming said.

"Don't be in a hurry, sit down and talk about it. "Hang Yu feels that the competition in the O2O field is very troublesome, because many financiers and Internet bigwigs are optimistic about this field and Meituan.

Jiang Yan Company can't even pull out a hand now, and it is very difficult to deal with the financier behind Meituan. In the case of not being able to pull out, it has been very successful to use the huge resources and wisdom of Jiangyan Company to trap Meituan in a B-class city.

Dong Ming sat upright on the chair next to him, his legs in black stockings were together, leaned slightly, his hands were modestly placed on his laps, and said: "I hope to make full use of the money from internal financing, plus the money obtained from the issuance of bonds, and the headquarters will approve another amount of money for us." This allows us to concentrate a lot of money in a short period of time, and if we miss it now, we will have to pay more money from the headquarters in the future. In addition, I think that if we make some achievements as soon as possible, the internal financing will be smoother and we will get the support of more staff, and vice versa, there will be an impasse. ”

Hang Yu nodded slightly, Dong Ming's consideration has a certain reason, which is also one of the embarrassments of listed companies.

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