"Chairman. You asked the Greater China Venture Capital Appraisal Department yesterday. Venture capital evaluation report of Yakan Xianhualian Network Technology Co., Ltd. A young white woman, speaking fluent Mandarin Chinese, said to the shadow of the woman in the huge semicircular office who was sitting quietly at her desk with her back to her.

"Leave it alone, thank you." Raider didn't turn around. She looked proud, but her tone and tone still showed good cultivation. "Yes, Chairman." The white woman respectfully put down the report, though Raider didn't turn around. She still bowed slightly and said, "If you don't have other instructions, I'll go down first." ”

"Hmm." Raider whispered.

The white woman turned to leave, and just as she opened the door and went out, there was another knock on the door.

"Come in."

"Chairman, this is the loan repayment ability evaluation report of Muxian Hualian Network Technology Co., Ltd., please take a look." Another young white woman came over with material paper.

This time, Raider didn't directly ask her to put down the report and leave, but asked calmly, "Didn't pass it?" ”

The white woman shrugged: "It's a pity. Chairman. Banks believe that lending should be risk-averse, for an emerging network technology company. As far as we know, it does not have a good profitability and therefore the Panel does not consider it appropriate to lend to this company

Even if it's just $100 million. ”

Raider was silent for a moment and said, "Tell David." Through Xinlan Ventures, I have acquired the equity of Hualian Company for 10,000 US dollars in cash. Hua Lian can use this joint 10,000 dollars in cash as collateral to make a loan, and let him watch it. ”

The white woman's eyes widened: "Allow me to say bluntly, this company is not even worth the dollar. But you actually spent a lot of money to buy its underlying equity

"Go and tell David, Di?" Liying turned her head slightly, it was Xiao's aunt. Qin Qin, the helmsman of the Xinlan Consortium of the United States.

"Uh," man, you're the chairman, and you have the final say. The white woman shrugged helplessly: "Then I'll go." ”

"Uh-huh, go ahead." Qin Qin said lightly.

She knows that the venture capital department will not have much opinion on her decision, although Americans have a skeptical mindset, but in the past few years, she has won all kinds of battles in the venture capital market, after all, they still have a sense of dependence, and the number of people who dare to doubt is gradually decreasing. Other than that. Investing in an emerging technology company is also a popular venture capital, although the price is a little higher, it doesn't matter.

Qin Qin can understand the reason why the appraisal team on Xinlan Bank's side did not agree to the loan: venture capital is a kind of equity capital, not loan capital. Venture capital is the equity capital invested by a venture enterprise generally accounts for more than % of the total capital of the enterprise. Venture capital is an expensive source of funding for high-tech innovators, but it may be the only viable source of funding. Although bank loans are relatively cheap, bank loans avoid risks and safety comes first, and general high-tech innovative enterprises cannot get it.

The venture capital mechanism is completely different from bank loans, and the differences are: first, bank loans emphasize safety and avoid risks; However, venture capital prefers high-risk projects, chasing the high returns hidden after high risks, aiming to manage risks and control risks. Second, bank loans are liquidity-based; Venture capital, on the other hand, is characterized by illiquidity. Seek growth in relative immobility. Third, bank loans focus on the current situation of the enterprise, the current capital turnover and repayment ability of the enterprise; Venture capital, on the other hand, looks to future returns and high growth. Fourth, bank loans are assessed on physical indicators; Venture capital assesses whether the management team of the invested enterprise has management level and entrepreneurial spirit, and assesses the future market of high-tech. Finally, bank loans require collateral and guarantees. It is generally invested in companies in the growth and maturity stages. And venture capital is not mortgaged, not guaranteed. It invests in emerging, high-growth businesses and projects.

Qin Qin is the chairman, but the chairman is not completely free to do whatever she wants, she also has to convince some people, of course, at present, one is that she has an absolute controlling stake in the shares she occupies, and the other is that her venture capital success rate is extremely high. It can give the people below a high sense of trustworthiness, so it is not too difficult to convince them to make venture capital in Hualian Network Technology Company. The only trouble is that only the shares of Hualian paste are taken, which is slightly disputed within Xinlan Ventures.

Venture capital is a type of equity capital with a long-term average investment period of 1 7 years and poor liquidity. In general, venture capitalists do not invest all their venture capital in a venture at once. Rather, it is constantly injected with funds in phases and batches as the enterprise grows. Venture capitalists are both investors and operators. Venture capitalists are not the same as bankers. They are not only financiers. And entrepreneurs, they are both investors and operators. Venture capitalists invest in venture companies and then join the management of the business. In other words, venture capitalists provide not only capital to venture companies, but more importantly, professional expertise and management experience. Generally speaking, venture capitalists will hold a stake in the venture company, and their interests are closely linked to the interests of the venture company. Venture capitalists not only participate in the long-term or short-term development planning of the enterprise, the determination of the production target of the enterprise, the establishment of the marketing plan of the enterprise, but also participate in the capital operation process of the enterprise. For the enterprise to play the book to dry the fine concave said to shake off the different body clam industry "Han capital or create capital channels. It is the employment of important personnel of the participating companies, and the six cases of the company.

For example, Su Ning's Tianxin Pharmaceutical Group, even if it accepts venture capital from Xinlan Group, Xinlan Group will participate in the production, operation and management of the enterprise. It's just when you invest in Tianxin Pharmaceutical. Yingmo is relatively large, and its shares are far more than macaque.

However, venture capital will eventually exit venture businesses. Although venture capital invests equity capital, their purpose is not to gain ownership of the business, but to make a profit, to obtain large profits and outstanding achievements to exit from the venture company. There are three ways for venture capital to exit from venture companies: ribs, muscles; Acquired by other companies

Obviously, it is the goal of venture capitalists to enable venture companies to reach the level of sub-public listing. Bankruptcy liquidation means that the venture capital may be partially or completely lost. The way in which you exit is, to a certain extent, a sign of the success of venture capital. Before making an investment decision. Venture capitalists have specific exit strategies. The exit decision is the profit distribution decision. How and when to exit can maximize the return on venture capital is the best exit decision. Continue to take Tianxin Pharmaceutical Group as a comparison, last year Xinlan Group sold a part of its total equity shares to Chairman Su Ning in cash transactions, Su Ning currently owns the equity of Tianxin Pharmaceutical Group Shanyuan, becoming the real largest shareholder Tianxin Pharmaceutical Group has been listed, part of it has entered circulation, if Xinlan Group continues to reduce a part of Tianxin Pharmaceutical Group's shares every year, and resell this part of the shares to Su Ning, it will be completely withdrawn from Tianxin Pharmaceutical Group after three to four years. At that time, Su Ning will occupy the name of the total shares and have an absolute controlling stake.

Now, Xinlan Group has invested in an emerging network technology company with a stake of 10,000 US dollars, which is "good for appetite" for venture capital, but with such a large amount of money, only to get a paste equity, some appraisers are slightly dissatisfied.

Of course, this is a trivial matter, and Chairman Qin can completely settle it.

But there is a slight problem on the bank's side, according to David Harrison, chief executive of Xinlan Bank. It is simply insane to lend $100 million to a small Internet company with a registered capital of only a few million yuan and whether there are "hundreds" of dollars.

This small company has nothing, even the office space is a rented one-story office building, so how can such a company that has no bearing and no mortgage be loaned by Xinlan Bank? And the chairman was even more inexplicable, actually saying that the small company got such a mere "network paging software" worth at least "billions of dollars" because of another small company that he had just acquired, and David Harrison felt that the world was really crazy.

But in the end, he still couldn't convince Chairman Qin Qin. The chairman used his equity to convince him that he felt the need to ease the relationship between the two men, so he agreed to take out a loan of $40,000. Unfortunately, the chairman was still dissatisfied, and in the end, the poor president David raised the loan repayment period to the old year to pay off the principal and interest.

"Stinky boy, venture capital and loans are all done for you, venture capital joint mouth, loan blade. in case of

I said, you'll have to let your little sister take it easy. Qin Qin sat on the office chair, elegantly crossed, overlooking the scenery outside the window. She wasn't on Wall Street at the moment, but at a branch of Lorium alum on inspection.

Xiao Ding listened a little bit loud over there, it seemed that my aunt was very fond of making fun of herself with this kind of thing, think about it, "Don't talk about jokes with Helena." Not even to mention that he often makes fun of himself with Su Ning. Let's just say that when I was a child, as long as I was taken to the United States to play with my aunt, I seemed to like to encourage myself to go to my relatives' little girl, cough, I really can't help it.

"You can settle the score." Xiao Zhen coughed dryly.

"Settle accounts? At best, I have a lot of VC energy in case I look at the face of that software. Qin Qin pouted.

Xiao Ke was stunned over there, the accident or the hero saw the same thing? Year four. And Yingke Digital's investment in Tencent's life and death is a fierce dollar! Xiao Ke had to pretend to be stupid and smirk a few times, and Qin Qin laughed: "But, others don't know your magic, but I know it very well." Since you are so sure that these four murderers can make money, and they can make a lot of money, then I believe it, let alone less than 100 million, even if Southeast Asia is playing billions of dollars this time, it doesn't matter. ”

Xiao Ji laughed: "How do I feel that you feel like money is blowing in the wind now?" ”

Auntie giggled when she heard this: "That's it." Originally, it was a few gusts of "wind, blowing." The year before last, I was able to buy this company in Israel for hundreds of millions of dollars and hand it over to AOL to run it. Then today I can invest in the four murderers of Huaxia, and then, whatever you want. There are many more left mouths in Huaxia than in the United States, and North can have so many users in the United States, and I believe that in Huaxia, your little sister can also do it. And the user is the resource, the money. ”

Xiao Ding smiled: "This kind of wind blows a few more times." Bill was about to step aside. ”

I borrowed your auspicious words for a while, and said after a few seconds: "I have to go to a meeting, next time." ”

"Well, my aunt wants to be healthy." Xiao Song said.

"Know, you're more verbose than your mother Aunt Xiao smiled and hung up the phone.

Next. It is said that the book is full of umbrellas

Liunan. City. The seventh floor of a not-so-high-end office building has long become Ying Ling Yang. Everyone couldn't help but cheer. from one of the world's most prestigious investment banks. Xinlan Investment, which is controlled by the American Xinlan consortium, is a one-time venture capital of $40,000 for their small company. And the price is just a paste of equity, and everyone will look at the "empty glove white wolf" prefecture-level master in their minds with the most reverence, their new chairman Yue Lian. This young girl who has just graduated for less than half a year.

Yue Xiaolian smiled slightly, and waited for everyone's cheers to finally subside a little before continuing to announce: "At the same time, Xinlan Bank will also make a loan to us for a period of ten years, with an amount of. $10,000. ”

The audience was silent, and then burst into even louder cheers. Although there were only twenty or thirty people in the whole company, there was thunderous applause and shouts and shouts, so that the people on the upper and lower floors were alarmed. I thought there was a fire, so I ran down to take a look.

When these people talked about the reason for their cheers, the employees of these other companies couldn't help but be surprised, what kind of charm did this small newly opened Internet company have attracted the American Xinlan Investment Fund, one of the world's top ten investment banks, to make a large venture capital of 50 million US dollars? A venture capital of $40,000 is not a big deal for Xinlan Investment, but it also depends on the investment object. For such a small company, a small shrimp in a small shrimp, Xinlan is not worried about whether this 10,000 US dollars will frighten people?

"So, chairman, I suggest that we can consider promoting our four murders or" the O Four Murders software that you have changed its name to. Liu Teng, the new president of Hualian Network, said.

"The production of O Four has been preliminarily completed?" Yue Xiaolian asked.

"Yes, the core part has been done a long time ago, and now it is the external issues such as the operation interface that are being improved, I think from the perspective of saving time, it is already possible to consider the issue of promotion, after all, in China, there are already people in the lead.

Yes, it is not the first person to eat crabs in China, before it, there have been other counterfeit software that have begun to be launched, and have occupied a certain market and have a certain number of users. In the summer, three young people in Israel, Wisger, Waqi and Goldfinger, got together and decided to open a software that would make full use of the characteristics of the Internet to communicate quickly and directly between people, which led to the design idea of the Four Evils. At that time, it was a kind of personal "toy" that allowed them to communicate with each other on the Internet in a timely manner, and a small company was established to provide business services to all registered properties. Later, according to Xiao Ke's suggestion. Qin Qin asked Xinlan Group to acquire North for 200 million US dollars. And handed over to AOL to manage and operate, in the years, the number of its users has broken through, 100 million mark. On average, 40,000 users are online every day, and the average online time of each user is three hours, which makes the sharp-eyed Qin Qin see the business opportunities.

In that year, a large number of online instant messaging software imitating Sibi emerged in China, such as the earliest, several, bi, kougou, o, etc. So", or that its predecessor, the O Four Murderers, is not too early.

However, it also has the advantages it deserves.

"Very good, the internal technical department is personally supervised by Mr. Liu, and the external design must be handed over to me for the final review, my requirements are very simple, "simple" and easy to use, "I think it is not difficult to complete." Yue Lian said.

This request was actually told to Yue Xiaolian by Xiao Zhen, and Xiao Zhen knew this thing too well. At the beginning, many people have been questioning why the function is not particularly good and can be overwhelming. Finally almost close to monopolizing the Huaxia online instant messaging software market? Yes, functionally. There has always been nothing special, but in comparison, there is nothing special about other online instant messaging software, and everyone is imitating four. But the reason for its success is not how powerful it is, but because its interface design is very reasonable, and the user operation is simple. o etc., their function at the beginning is not weaker than, especially o peng. As soon as it was launched, it introduced much more powerful features such as e-mail and network drives. Unfortunately, too many functions make users feel that the operation is very cumbersome, which is an important reason why it fails. At this time, the level of Internet access is not very high. And only by lowering the threshold can more people come in.

A month later, the year, month, day, and New Year's Day officially appeared in the public eye.

There are several differences from previous lives: one. 2 From the beginning, he did not call Obei, thus avoiding the infringement lawsuit in his previous life; Two. The appearance of 2 was more than a month earlier; Three, its boss has changed,,

Comrades, do you think "do you want to grab the main business of a few more companies?" Hey, hey, hey.