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By the time the plane landed, the snow had stopped. Pen × fun × Pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

The weather in Beijing is dry, and the snow particles on the fields along the road are swirling everywhere for the wind, sometimes obscuring the view ahead, and the car drives slowly and steadily on the roads outside Beijing.

In the summer of '96, Ma Xiangdong, who was wearing jeans and a T-shirt, was not much different from the graduating Tsinghua students: he was very ambitious, had a lot of ideas, and was distressed by the choice between employment or going abroad, he had no girlfriend, and when his career was not successful, he did not have the heart to find a girlfriend, and in the summer of two years ago, Ma Xiangdong would not think that his ideal would be realized in more than two years, even if he had great ambitions.

Being the CEO of a prestigious company a few years before the first node of life planning is a matter of pride.

"Well, I'll admit that these are the goals I set for thirty, what's wrong with achieving them early?" In the compartment of the limousine, Ma Xiangdong said with his eyebrows fluttering, and his tone rose uncontrollably, "I still think it's strange, you know, in fact, Kumho can insist that Quantum's equity is not diluted......"

"As you know, the purpose of establishing the Oak Park Venture Capital Fund was to promote and support the incubation and growth of new technology enterprises," Zhang Ke explained, "Even if you talk about investment, you feel that it is too much, and you can't bring the slightest speculative mind......" Zhang Ke himself felt a little funny, with a shallow smile on the corner of his mouth, which seemed somewhat unfathomable to Ma Xiangdong and Zhao Zilin.

"The halo of high-tech and the network economy is hanging over the whole of North America and Europe, and the whole market has good expectations for the future of new technologies...... However, at this point, it seems that new technologies need to sustain long-term prosperity and need a deeper foundation. Zhao Zilin commented very objectively, and she did not agree with continuing to invest too much capital in the Internet industry.

Zhao Zilin and her team manage Kumho's $500 million Oak Park Venture Capital Fund, which focuses on supporting the growth of small and medium-sized high-tech enterprises. In the past two years, the Internet is definitely the most important branch of the new technology concept, the domestic venture capital is still very weak, Oak Park entrepreneurship must definitely be regarded as a powerful one, in foreign venture capital continues to flock to the domestic Internet industry, Oak Park venture capital is more inclined to support and basic technology technology enterprises.

However, Oak Park Ventures' holding of Quantum Online may be said to have seized the biggest piece of cake in the domestic Internet industry. In addition to the initial initial investment of $25 million from Oak Park Ventures, Quantum Online raised two rounds of nearly 12 million preferred shares and nearly $20 million in funding at an average price of $1.6 per share last winter and this summer. The price of Kumho's holding of Quantum Online shares is even less than 2 yuan per share, even if it is not listed, it will be able to sell all the shares held by Kumho, and it will already be able to obtain six or seven times the windfall profit, but Zhang Ke will not only have this ambition.

Although the profit model and expectations of the portal are not very ideal, before the first new technology bubble burst, the concept of the portal was sought after by the vast majority of investment institutions. At least before 99 years of unswervingly develop the portal network, in the capital of a large investment, at this time Quantum Online has formed the mainland, Hong Kong, Taiwan, North America four places and four stations of the scale, deservedly the world's first Chinese portal.

"In order to make Quantum the first Chinese Internet company to be listed overseas, we have set a timetable for going public before next summer, and the discussion at tomorrow's meeting will revolve around this time......table," Ma Xiangdong said excitedly to Zhang Ke, "Ke Shao should meet with Zeng Zihui of Goldman Sachs, I think the two of you will have more common language, Zeng Zihui himself is also very much looking forward to meeting you......

So far, no Chinese Internet company has been listed overseas, and the halo of "the first Chinese Internet company listed overseas" is extremely important for investment or speculative institutions, and attracting the attention of the public and investors on a larger scale and more attention means listing higher stock prices.

Quantum Online initially selected to cooperate with Goldman Sachs for overseas listing operations, Zeng Zihui is the vice president of Goldman Sachs Asia, just turned 30 this year, and can definitely be regarded as a young and ambitious figure.

Of course, in order to cooperate with Goldman Sachs, in addition to choosing Goldman Sachs as the lead underwriter for overseas listing, Quantum Online will also have to raise a third larger financing from Goldman Sachs' venture capital fund, and then it seems that the price negotiation with Goldman Sachs on the financing is more important than the timetable.

Listening to Ma Xiangdong convey Zeng Zihui's intention to meet with him, Zhang Ke agreed without hesitation: "Okay, you can arrange it for me, and it doesn't hurt to meet him before I leave Beijing." ”

Although it is more important to go public in the summer of '99 in advance, Zhang Ke doesn't want to give others the appearance that he doesn't pay attention to price. In fact, it is not a myth that the stock after listing relies on the overall frenzy of the Internet concept, and it is not a myth that the market profit of hundreds or thousands or even thousands or tens of thousands of times is not a myth, and even if a few million shares of Goldman Sachs are given away for nothing, it will not have much impact on Kumho's earnings. However, most of the things given to others for nothing will not be cherished by others, and the negotiation is at least more difficult, or it can speed up the negotiation process if everyone can see each other at first sight and sympathize with each other.

Zhang Ke saw that Ma Xiangdong's interest was very high, and he didn't think it was strange.

In the Internet industry, the vast majority of them are high-spirited young people like Ma Xiangdong, and it is not difficult to imagine the high enthusiasm for the Internet industry in their circles. Not to mention Beijing, in Jianye, more and more people think that having the Internet is almost the same as having everything.

Since the spring of '94, the domestic government has carried out large-scale infrastructure construction on the Internet, and the local information port has penetrated into almost every county-level city, and the perfect infrastructure has provided a platform for Internet content service providers to develop. According to the latest statistics, as of mid-December, the number of domestic internet users rose to 2.2 million. In addition to e-mail, BBS and news have become the new core of the Internet, attracting more and more capital attention. The story of how Ma Xiangdong got his first venture capital to found Quantum Online has also become the main topic of conversation after dinner. At this time, the media and the public prefer to believe that if you have a perfect business plan, it is enough to get thousands of dollars from investors. In order to win the favor of capital, website creators spend all day thinking about how to attract more eyeballs and how to occupy important positions in major media every day. At this time, new websites are born in Beijing every day, Internet companies always have endless press conferences, and Beijing is also one step ahead in the development of domestic high-tech industries by virtue of the Internet industry. Zhang Ke sighed in his heart, even if Kumho has great ability, it can't support two "No. 1 Chinese portals" at the same time, and I don't know how many ambitions will be shattered when the bubble bursts in technology stocks and the cold snap of the new economy suddenly hits, and I don't know how many people will struggle to survive in the cold snap and grow into real Internet heroes.

At this time, Zhang Ke was more worried about the Ministry of Information Industry's cautious support for the overseas listing of Internet companies than the cooperation with Goldman Sachs.

The car drove into the family community of the former Ministry of Posts and Telecommunications, and saw his little cousin Liang Wenjiang and Wang Cailing standing in the empty field in front of the building waiting for him from a distance, and next to them stood a thin young man about 30 years old looking at the car. Zhang Ke asked the car to take him downstairs, got out of the car, Liang Wenjiang first introduced Wang Cailing's brother Wang Zhi, Zhang Ke shook hands with Wang Zhi, and asked Liang Wenjiang: "Uncle is upstairs?" ”

At this time, it was still early to go to the hotel, although it was an engagement banquet, it was only a family banquet, Zhang Ke caught up with the itinerary and came over to eat a meal, except for the uncle and aunt, the eldest cousin Liang Wenshan and his wife did not come to Beijing. However, Wang Cailing's family paid more attention to it, and his brother Wang Zhi and his wife led their daughter to rush back from Wenzhou in eastern Zhejiang.

Go upstairs, brother-in-law Liang Guosheng and Wang Cailing's father Wang Xuchen sat in the Japanese-style study to play chess, and the aunt and Wang Cailing's mother greeted each other, and gave the gift, Zhang Ke stood aside to watch the chess, Wang Zhi said next to him: "I heard my father and Wenjiang say that your chess is very good, it's still early to eat, can you ask for a game?" ”

Zhang Ke didn't expect that the Wang family had prepared two sets of chess, I don't know if it was intentionally prepared, and it was boring left and right, and said: "It's just right to pass the time." Wang Cailing ran to get chess, and Zhang Ke and Liang Wenjiang sat down in the living room together, chatting while playing chess.

Wang Zhi is an ordinary public servant in the Wenzhou Municipal Government of eastern Zhejiang, who studied at the university in eastern Zhejiang, met his current wife, and stayed in Wenzhou, eastern Zhejiang after graduation to work, and has never moved his nest until now. Wang Zhi heard many legendary stories about Kumho from his father and sister, and when he really saw Zhang Ke, he saw that his performance was not much different from that of a somewhat silent college student, and he couldn't see how dazzling his aura was. If you want to talk about IQ, no one sitting in the living room will admit that the IQ is worse than others, maybe Liang Wenjiang's pure IQ is higher. However, like his father, he is a technical talent, although his father is a department-level cadre in the Ministry of Information Industry, he actually has no real power, and Liang Wenjiang's status in Quantum Online is not low, but he rarely cares about management matters. Wang Zhi was also worried that returning to Beijing would force his family to engage in technical work, so he decided to stay in Wenzhou, but his father couldn't do it in Beijing, and his father-in-law's family had no background in Wenzhou, so his work was not particularly satisfactory.