This is the first time that the shareholders of the company have heard about the comprehensive financial, development and market situation of the intranet, and it can be said that the development of the intranet has exceeded everyone's expectations. In particular, the profit of more than 30 million per month, although the school intranet has not paid dividends since its establishment, but according to the shares held by everyone, it is equivalent to more than 100,000 shares per person with the least shares every month.

When the school intranet was founded, Jiang Hui's words to everyone are still vivid, most of the current shareholders are still students, and the income of more than 100,000 yuan per month, although it is not available for the time being, it is still quite impactful.

"Next, I would like to ask Mr. Tang to introduce the background of today's meeting," Jiang Hui said.

For many shareholders here, it is estimated that there is not much concept of what venture capital is and what is SoftBank's status in the venture capital industry. Jiang Hui himself learned in his previous life that there was a predator like SoftBank behind the Internet world of the Celestial Empire, and it was also bombarded by the media many times.

"A few days ago, I was contacted by someone from SoftBank Celestial Empire and expressed their willingness to invest in the intranet. In accordance with Mr. Jiang's instructions, I will take the opportunity of this meeting to introduce to you the situation of venture capital and SoftBank," Tang said.

"Venture capital is actually the abbreviation of venture capital, and generally everyone refers to VC as venture capital. This term and its behavior are generally believed to have originated in the United States, and were invented by some investors who were willing to exchange high risks for high returns after the sixties and seventies of the 20th century, and this investment method is fundamentally different from the previous mortgage method. Venture capital does not require collateral and does not need to be repaid. If the investment is successful, the investor will get a return of several times, dozens of times, or even hundreds of times; if it fails, the money invested will be wasted. For entrepreneurs, the biggest benefit of using venture capital to start a business is that even if you fail, you won't be in debt. This makes it possible for young people to start their own businesses. Overall, this approach to investment has been very successful over the decades," says Tang.

"In the past seven or eight years, a group of overseas students represented by Du Niang, Xinlang, Sohu, etc., have returned to China to start a business, bringing back a large number of venture capital to China, and this new financing method has greatly catalyzed the growth of small and medium-sized enterprises. At present, the more well-known venture capital companies include IDG, Sequoia Capital, SoftBank, etc.," Tang said.

"This time, it is SoftBank that wants to invest in the intranet, and it is estimated that there will be other VCs who will extend olive branches to the intranet soon. SoftBank is the abbreviation of SoftBank Software Banking Group, which is a comprehensive venture capital firm founded by Masayoshi Son on September 3, 1981 in the island nation and listed in the island country in 1994. Software Banking Group is mainly engaged in investment in the IT industry, including broadband network, fixed-line telephone, e-commerce, Internet services, VoIP telephony, technology services, holdings, finance, media and marketing. The software banking group owns shares in hundreds of IT companies around the world and has a relatively large influence on the Internet. Just last year, SoftBank invested 40 million in Shengda Games," Tang said.

"SoftBank's founding son, Masayoshi Son, is a legendary figure. Son came to California from the island nation at the age of 16 to study at the University of California, Berkeley, where he earned a bachelor's degree in economics. While in college, he made his first million-dollar income by importing video game consoles from the island nation and installing them near campus, and he also developed several computer games. His entrepreneurial spirit led him to invent and patent a multilingual pocket translator shortly after, which was later sold to Sharp for $1 million. In 1981, he returned to the island country to establish SoftBank. After the meeting, you can learn about his deeds when you have time, which is more helpful to improve your understanding of the Internet," Tang said.

"SoftBank also has a relatively large investment in the Celestial Empire, which is two funds for Ma Tiancai in Hangzhou. In 2000 and 2004, SoftBank bought a 20% stake in Alibaba for $20 million and $60 million in the second and third rounds of financing, respectively. Judging from SoftBank's past style, SoftBank Celestial Empire estimates that it wants to invest a sum of money to occupy about 20% of the school's intranet, and the specific situation will only be known after negotiations begin, and the above is what I want to talk about today," Tang said.

In addition to Jiang Hui, Tang Wenwen and Fang Dawen, the other people present did not have a deep understanding of SoftBank's investment intentions this time, so after listening to Tang's speech, everyone turned their attention to Jiang Hui.

"Everyone understands the company's situation, and the current development is relatively fast, but it has also exposed some problems, such as the decline in the growth potential of the number of users, and the heavy dependence on game revenue for profit. The introduction of venture capital can speed up the development of our specialization and regularization, and the funds obtained can also allow us to do a big job, which is also very beneficial to the listing of enterprises in the future. But there are also some disadvantages, first of all, our company's development decisions have more voices, which may be inconsistent with everyone's. There will also be some additional regulatory measures for the use of funds," Jiang said.

Jiang Hui picked up the teacup on the table and took a sip of tea, giving everyone a little time to digest.

In fact, as far as my personal opinion is concerned, financing is inevitable for enterprises to develop, but do we need to raise money now? It depends on what SoftBank's bid is. After all, financing will dilute everyone's shares. I once told you that everyone will be multimillionaires and billionaires in the future, and I mean that. Now it is conservatively estimated that the valuation of the school intranet will not be less than seven or eight hundred million, according to the shares held by everyone, everyone here is at least worth several million", Jiang Hui said this, causing a burst of emotion among everyone, and if you are not careful, more than a dozen millionaires will be born. Maybe in another half a year, there will be more than a dozen multimillionaires.

"Old Tang, you first contact SoftBank to see what conditions they offer, I estimate that if SoftBank makes such a move, other venture capitalists will also follow suit, and when the time comes, we will choose the best financing targets," Jiang Hui said.

"Okay, then Mr. Jiang, how do we make an offer?", Tang said.

"The proportion of the initial financing should not exceed 15 percent, the valuation should not be less than 1 billion, and at least half of these financing shares must be non-voting," Jiang Hui said.

According to Jiang Hui's request, it is estimated that some have been discussed, and SoftBank should not agree in a short time, but this is the same as buying a house.

(End of chapter)