Chapter 327 Investment Projects
The TV series started filming in full swing, but Li Mo was idle. The script is completed early in the morning, and if it is to be revised, the director will inform him in advance. However, Philip's return finally made him not idle.
"Fortunately, boss!"
After a trip back to the United States, Philip looked full of spring breeze. Li Mo couldn't help but slander, it is estimated that which old lover gave him moisture.
"Tell me about the situation." Li Mo poured a cup of tea for Philip.
"Thank you."
Philip took a sip and said, "The negotiations went well. The other side was very satisfied with our move to give up our voting rights, and the share of $10 million that had been negotiated was increased to $15 million. β
"I knew that the biggest fear of these founders was the loss of power in the company. Especially in the start-up stage, this is a good starting point. Li Mo smiled with satisfaction.
What they are talking about is about a photo-sharing app company called 'Burn after reading' in Chinese. The main reinforcement of the application is that the photos uploaded by the user have a lifetime of 1 to 10 seconds, and after the photo is sent to the user's friends, it will be automatically destroyed at the preset time set by the user. If the receiver saves the screenshot, the user will also be notified.
Since its launch in September 2011, it has grown rapidly, receiving $480,000 in seed funding from Lightspeed Ventures in 12 years. By this year, the amount of Series A investment is about $10 million.
Philip realized the company's potential in the future and persuaded Li Mo to invest. Then, according to Li Mo's proposal, the voting rights were handed over to the company's CEO Evan Spiegel, and he successfully defeated other investment companies and won this Series A investment, 15 million US dollars, 19% of the shares.
After the investment, the valuation was close to $80 million. This is a big gamble that will become the next one, but Philip and Li Mo are quite confident that this investment will not be lost.
According to Philip's prediction, even if it is not listed in two years, this 15 million will bring at least 10 times more revenue, and it is still the lowest estimate.
"It's the first time I've invested in such a high-tech company, and I'm a little weak-hearted." A large sum of money is thrown in, not like Li Mo's previous style, buying a farm and opening a store in a physical industry, there must be peace of mind.
"Boss, expanding your brick-and-mortar industry also requires a lot of money. Current profits alone won't work, and don't forget, you still have a large bank loan to repay, and more blooming is a must. I am very optimistic about this project, and we are lucky to be able to win the A round of investment first. The rest is probably none of our business. β
Li Mo nodded, if they hadn't wisely given up some unnecessary power, they would not have been able to pull their teeth out in front of various well-known venture capital institutions, so as to win the precious Series A investment.
"By the way, what did your old classmates say?"
Li Mo asked Hugo Phelps, this guy still has the remaining shares of Weimei Group in his hands, and Wang Xudong is blamed for not being authentic, which makes Li Mo very depressed now.
I wanted Hugo Phelps to visit a series of farms and ranches to make him retreat. Unexpectedly, this is not an ordinary person, he was not bluffed by Li Mo, and he did not negotiate with Li Mo, and went back to the United States directly.
"Good news, too."
Philip laughed, "He's relented and wants to work with you." β
"Cooperation?"
"That's right. He is willing to sell his shares, and he wants to work with a small integrated farm in Texas, hoping that Boss will come up with special technology to transform the farm into the same as Daei Farm, just to make it easier to study 'auxin'. In return, the farm will be transferred to the boss, who only needs to be able to set up a laboratory on the farm, as Endo did with Hanazuki. β
"How big is the farm?"
"1,350 acres, not too big. Hugo Phelps owns tens of thousands of acres of land all over the world, just to study the illusory 'auxin'. β
Where is this cooperation? It's obviously a bait, as long as Li Mo is greedy and swallows this bait, maybe Hugo-Phelps can be sure that Li Mo does have the mysterious technology he hopes for.
"I'm afraid this won't work, I don't know anything about agricultural technology, how do you let me transform? Forget it, if you can't get the shares back, you can't get them back, so let's be one more partner. β
Li Mo said casually, but the corner of his eye secretly looked at Philip's expression. It's not that he's suspicious, who knew that the relationship between Hugo Phelps and Philip was really as bad as he had seen? The heart of guarding against people is indispensable, and Li Mo is also cautious.
"I also think it's better to do that. Hugo Phelps is not an ordinary person, and the American whip is beyond his reach, compared to the boss, he is not happy to develop there for a long time. β
Philip's expression was normal, and Li Mo was still a little relieved.
"Then turn him down."
"Ok, I'm the best at rejecting people!" Philip was clearly excited about the chance to hit Hugo Phelps.
After the matter was discussed, Li Mo and Philip chatted casually. Mainly talking about his industrial problems, but more about persuading Li Mo to turn the focus of development back to his motherland as soon as possible. South Korea is too small, and after it grows bigger, it will face the threat of chaebols, which is a hurdle that no one can bypass. In fact, Li Mo is also entangled, and it has more to do with Kim Taeyeon.
Originally, the two didn't have much time to meet, and if the two countries were separated, it was estimated that Li Mo would not have the confidence to maintain this relationship. Don't mention the nonsense that is more affectionate than Jin Jian and is not afraid of distance, how many couples break up because of distance?
This is Li Mo's first relationship, and he cherishes it very much.
Philip was also aware of Li Mo's struggles, but he was just doing his duty to give advice to his boss. As for whether the boss accepts it, it depends on his own considerations.
The atmosphere fell silent for a while, and it was Philip's sudden phone call that broke the silence.
"Haas... I said I don't want to buy your software... That's right... The price is too high... You'd better find someone else... Didn't I give you a lot of investor numbers? β
Philip dealt with the person on the phone with an impatient face.
"So be it... Good bye! β
"What's going on?" Li Mo came back to his senses, suppressed the irritability in his heart and asked.
"A friend, a friend who doesn't change! I'm, this guy grew up in the same orphanage as me and is called Haas Hodgson. Very smart software engineer, but his cleverness is not used in the right way. β
"He loves to gamble and stays in Las Vegas all year round. It's strange to me that someone like him can live so long in Las Vegas. He often borrowed my name to recommend his work to investorsβsmall pieces of software. Claiming that I was going to buy his software for a lot of money, telling others how promising the software was, and then selling it at a high price. β
"Boss, as you can imagine, this little trick can only be used once or twice at most. Now that he can't find anyone to buy his software, he often calls me to harass me, and I've helped him pay off his gambling debts for over $3 million! Fack, this time he keeps saying that he wants to make a big change, and wants me to invest five million dollars in his software, am I a fool and still believe him? β
It was the first time for Li Mo to see Philip so excited, and it seemed that he had a really deep relationship with that Haas.
Touching his chin, Li Mo spoke, "Philip, I want to meet this Haas." If he really relieves his mind, let him come to Seoul. Without any sincerity or determination, I believe he is hopeless. β
βboss... You don't have to...! β
Li Mo waved his hand, "That's how it was decided." β
"Okay, but boss, don't promise him easily." Philip was helpless, but in fact, he also had an expectation in his heart, hoping that Haas would really change his mind.