A long time ago, Zhao Zejun had a nickname of Spider-Man on the Internet. Pen "Fun" Pavilion www.biquge.info

The four-way series and eight-sided weaving network are not only to weave a big network for themselves, but also to unite the major enterprises in the Internet industry through the network.

What he is doing now is to weave a thread between the data center and Alibaba, and the first thing he has to do is to implement the wishes of both parties.

Alibaba's fifth round of funding, targeting data center members.

Theoretically, the three major portals are now also data center members.

But these three websites join the data center, which is actually the same batch as Alibaba, but the negotiation sequence is different.

As a result, the three portals are at the threshold of what they can and can't participate in.

In the end, what can decide whether they are eligible to participate is the voting of the data center, one vote for the three major portals, and one vote for Baidu, Tencent, Zelianke, and the results are obvious.

Let not let them participate, the three people present in a word thing.

The whole thing was discussed by Zhao Zejun independently, and Baidu and Alibaba played an auxiliary role at most, so Mr. Li and Mr. Ma still took Zhao Zejun as the leader on this issue.

Zhao Zejun thought for a while and said: "After all, they have become members of the data center, if they are completely excluded and cannot share the dividends brought by the data center alliance, the significance of this alliance will be weakened, and these three will also bear the responsibility of promoting Alibaba in the future, so let them participate." But they are new to the company and have not played a key role in Alibaba's financing. ”

"I agree that the three of them can participate in the financing, but only have a very small stake."

"I'll talk to them."

……

……

After some preliminary preparations and negotiations between all parties, the biggest result of the West Lake sword debate was finally reached.

Alibaba Group announced that it will conduct the fifth round of financing, valuing the entire Alibaba at 2.5 billion US dollars, taking out 20% of the group's shares, and inviting Baidu, Tencent, Zelianke and the three major portals to participate.

This is also the only time that there is no venture capital company, and all the financing is participated by well-known domestic Internet companies.

At the same time, Zelianke's Zeyue Chinese Network and Blog China opened the first round of financing.

Whether it is domestic and foreign enterprises, or major venture capital institutions, they have always paid close attention to these two subsidiaries of Zelianke.

Especially blogging China.

As soon as the news was released, a total of eight well-known venture capital companies, including Sequoia Capital, IDG, Goldman Sachs, etc., took the initiative to contact Zelianke.

Finally, Zelianke invited Alibaba Group, Yahoo International, Software Bank, China International Capital Corporation Limited, Baidu Tencent, and four companies to participate in the first round of financing.

Among them, China International Capital Corporation Limited, commonly known as 'CICC', was specially invited by Zhao Zejun.

In order to invite CICC, he also asked Qiao Xinyun to do a favor.

She worked for Goldman Sachs, but this time for venture capital, Zhao Zejun did not consider Goldman Sachs, and under the strong recommendation of Baidu and Tencent, through Qiao's younger sister Qiao Xinyun's relationship in the venture capital industry, she invited CICC.

Compared with internationally renowned venture capital firms such as Goldman Sachs, Sequoia, and SoftBank, CICC is not particularly famous.

But in the mainland market, CICC has an unshakable position.

Founded in 95 years, this investment bank is the first Sino-foreign joint venture investment bank in mainland China, and is the main financial intermediary in the mainland capital market.

Inviting this company is not only to raise funds, but also to use the government background of CICC to escort its future listing and development.

Alibaba's financing talks and Zelianke's financing talks were held at the Shangri-La National Hotel, adjacent to two conference rooms.

The first to be held was Zeyue's financing.

Zeyue's market valuation is 100 million US dollars, led by CICC, followed by Baidu and Tencent.

After the first round of financing, Zeyue received 35 million US dollars at the cost of 35% of the equity, with the founder Zhao Zejun actually accounting for 65% of the shares, CICC accounting for 25% of the shares, and Baidu and Tencent each accounting for 5% of the shares;

This is just an appetizer, and it is the first of the three financings to be completed.

After that, Alibaba's fifth round of financing and Blogging China's first round of financing kicked off almost at the same time, staggered.

The valuation of Blogger China exceeded everyone's expectations, reaching a staggering $500 million!

This figure even exceeded Zhao Zejun's expectations.

You know, three years ago, the valuation of Baidu's last round of financing before going public was only $200 million.

Although the mainland Internet industry has been booming in the past three years, the value of Internet companies has been rising;

Despite the rapid popularity of web2.0 in the world, Blog China is the largest web2.0 media representative and the largest social network in mainland China;

Although Zhao Zejun is the brightest star of the domestic Internet in recent years......

Despite the many reasons, Blogger China is not going to reach a $500 million valuation anyway.

The current is not 2016, and any well-known project can easily be valued at hundreds of millions or even billions of dollars.

Thinking about it, the most important reason is probably that I used 10% of the equity to acquire Sina Blog.

Without Sina Blog, Blog China has become a well-deserved hegemon in the mainland blog industry, with a market share of almost 100%.

The existence of the data center makes it possible for enterprises that have the ability to compete with Zelianke in the blog to not have conflicts with Zelianke in a short period of time.

As for how amazing will this company grow in a few years, if it is allowed to grow like crazy in China? At that time, it will be almost impossible for any competitor to catch up with Blogging China.

Moreover, in the current environment, Zelianke has strategic cooperation with Baidu and Tencent, and the industry agrees that there will probably be no second round of financing in the future, and this round is the last chance for capital.

Venture capital has always believed that the future development potential of blog China is unlimited, and it can be at an appropriate premium, so it has a sky-high valuation of 500 million.

The first round of financing of Blog China was led by SoftBank and followed by Yahoo and CICC.

Take out 50% equity.

After the financing, Zhao Zejun, the founder of Blog China, holds less than half of the shares, leaving only 45% of the shares, while Sina has a diluted 5% of the shares, the lead investor SoftBank has a 25% stake, Yahoo has a 20% stake, and CICC has a 5% stake.

Among them, CICC, SoftBank and Sina signed an escrow agreement with Blog China, and Zhao Zejun himself exercised decision-making power in the board of directors on his behalf.

It stands to reason that in this round of venture capital, Blogger China can get $2.5 in funding.

But in fact, in the end, only CICC paid for 25 million US dollars.

At the behest of Blog China and pushed within Alibaba Group, a share swap was carried out.

SoftBank and Yahoo's shares in Blog China did not cost money, they respectively held shares in Alibaba, and in the fifth round of financing, they carried out equity swaps.

In terms of Alibaba, the fifth round was valued at 2.5 billion US dollars and took out 20% of the equity.

In this round, the leader of the investment was Zelianke.

Zelianke used the 45% equity given to SoftBank and Yahoo by its blog China in exchange for 9 points of shares in Alibaba, and at the same time won another point of 25 million US dollars from CICC in the name of blog China's 'investment cooperation', accounting for a total of 10% of Alibaba's shares.

Baidu and Tencent followed suit, each contributing 4%.

The three major portals are indeed just 'meaning', 1 point each.

In Alibaba's fifth round of financing, Zelianke became the biggest winner.

After these three financings and equity changes, Zhao Zejun's own shareholding and various incomes have undergone relatively big changes:

65% of the shares in Zeyue, but supported by CICC;

Blogger China actually owns 45% of the shares, but has 80% decision-making power;

Acquire a 10% stake in Alibaba, but have no decision-making power.

In addition, there are $35 million.

This ending is actually a happy ending.

Zhao Zejun's initial goal was achieved, and even far beyond, before the West Lake sword, even he himself did not expect that he could eat ten points of Alibaba's shares in one bite, and at that time he expected in his heart that it would be very good to have five points.

At the same time, the two Internet companies finally took the first step towards going public.

Baidu, Tencent, including the three major portals, have gained equity from the sky, whether it is Alibaba or Zeyue, they are undoubtedly high-quality enterprises.

The venture capital companies that have been keeping an eye on the blog China have also got what they want at an affordable price.

As for SoftBank or Yahoo, there is nothing to lose.

At this time, the equity of Alibaba, which was used to replace, has brought them several times or even dozens of times the return compared with the original investment.

But some invisible places under the surface of the water, unconsciously, have undergone essential changes!

As for Alibaba, the stakes in Yahoo, SoftBank and the management team were also diluted by 21%.

Since Yahoo has the largest stake, it has also been the most diluted, falling from nearly 40 percent to less than 32 percent.

Although the equity of Ma Yun's team has decreased slightly, from a little more than 29% to less than 24%, the decision-making power has increased by 21% due to the non-public entrusted management agreement signed with the data center before.

With this extra 21% of decision-making power, even without the help of SoftBank Masayoshi Son, Ma Yun's team's decision-making power has exceeded 50%.

Very little exceeded, just reached the tipping point, 50.17%!

Ma Yun's team, through this financing, quietly regained the long-lost actual control of Alibaba!

……

After the completion of the financing, Alibaba Group and Zelianke Group jointly held a press conference and celebration reception at the Shangri-La International Hotel.

Interestingly, the media were not specifically invited this time.

Because all the media that have the right to speak on the mainland Internet have already participated in this equity feast, there is no need to invite additional media.

At the reception, in addition to the detailed disclosure of the financing process, two blockbuster announcements were also announced.

Baidu, Zelianke, Tencent, Alibaba and the three major portals, seven officially announced that they will join forces to build a 'big data research industrial park'. Enterprises in the data park have carried out strategic cooperation with each other of different scales and degrees, and officially signed strategic cooperation agreements.

Alibaba will set November 11 every year as the shopping carnival, and within 24 hours of this day every year, you will enjoy a large discount of different amounts when you place an order on Taobao.