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After the new wave of science and technology entered the spring of '99, there were signs of frenzy, and the entrepreneurs of Internet companies in Zhongguancun, Beijing, discussed financing in the tens of millions of dollars, and Chuangyu and Dongda Science and Technology Development Corporation jointly injected 8 million yuan into JOYU to develop a B2C model of online book sales business, which is not worth mentioning at all in the eyes of domestic Internet elites. Pen & Fun & Pavilion www.biquge.info

E-commerce is the current hot spot of the Internet industry, in addition to Zhuo Yu network, there are a number of e-commerce websites in the same period to inject capital into the establishment, all of which coincidentally choose books, audio-visual products as the wedge point of e-commerce, attracting Zhang Ke's attention is the 8818 online mall registered in Wenzhou, eastern Zhejiang.

The investors of 8818 are also domestic private capital, hidden behind the construction of Xintong Bank and Horizon Investment is the first investor, but the second investor is Zhang Ke unexpected Haisu Technology, the media reported that 8818 online mall has received a total of 50 million investment from two companies.

In contrast, Joyu has only received a total of 8 million in funding, which is a bit shabby.

In any case, Zhuoyu is the largest investment in Chuangyu at present, although the first investment is only 5 million, but as long as the initial market goal is achieved, Chuangyu will continue to inject capital.

To really do e-commerce and form a certain business scale, it is enough to invest hundreds of millions of dollars, not to mention it.

Chuangyu's own existing business has an annual hematopoietic capacity of only 20 or 30 million cash flow, and plans to bet four to five years of profits on a project, investing in Zhuoyu can be said to be the key layout of Chuangyu's development, Du Fei is also trying to tilt the resources of Chuangyu to Zhuoyu, Jianye Kewen Company's daily management is still controlled by Ma Li, Yang Weiyi and other founders, but Du Fei will not give up participating in the decision-making at the strategic level of Zhuoyu (JOYU).

In the Jianye Kewen Company's move to Dongda Science and Technology Park, Zhuo Yu Network entered the preparatory period, Zhang Ke also had nothing to do, so he helped Du Fei do some business planning work, for Kumho, Zhuo Yu Network can be done, and it will also be an important Internet platform resource in the future.

"The sales volume reached 8 million within a year of the start of the business, and the loss margin should be controlled within 6 million, and after this target is reached, there will be a second financing - will this goal be too conservative?" Zhai Danqing knew that Zhang Ke had nothing to do to help Du Fei, and she occasionally cared about what Zhang Ke was busy with, seeing Zhang Ke writing business planning materials for Zhuoyu all day long, she was very speechless, he didn't care much about the hundreds of millions or even hundreds of millions of investments under Kumho, but he worked hard to get into the small project of eight million investment.

"Why are you conservative?" Zhang Ke asked Zhai Danqing unconsciously, he was lying lazily on the sofa in the living room of the apartment, his head resting on his head, his knees bent up, and the material was placed on his knees.

"Do you know that Horizon has poached Zhang Wenxin, the marketing director of Microsoft China, to 8818?" Zhai Danqing thought that Sun Jingmeng didn't know when she would come back, so she stood next to the sofa and didn't sit down next to Zhang Ke.

"How can this not be known?" Zhang Ke smiled, this year, the Internet is like a top lady, it attracts people's attention everywhere, Zhang Wenxin poached 8818 to Hongxin as the marketing director, and the momentum created by the media is not much weaker than Chen Xinsheng's jump from Deyi to Kumho, and said with a smile, "Hehe, Oak Park Venture Capital transferred the equity of Quantum Online, and on the surface, it will get at least ten times more windfall profits, Hongxin, and some other private capital in China, what a strange thing is red-eyed——"

"The foundation accumulated by the Yan family over the years is also strong enough, and diversified development is also an inevitable choice, since Kumho can make a profit in the Internet industry, it is normal for them to come down to try the water, and the economic research center has obtained some of the contents of the 8818 business plan, and they will reach 20 million sales before the first half of next year - advertising investment is 30 million, and it is strange that how can they pull Haisu Technology in?"

"The mud can't be glued to the wall, how can Haisu Technology take the title of a pioneer in the domestic software industry!" Zhang Ke laughed, picked up a book on the coffee table, looked at the price on the back of the page, and said: "This book is only 20 yuan, which means that they pay 30 yuan for the marketing of a book to sell - they have great ambitions, to be China's Amazon." Unfortunately, although we are all saying that the potential for the future development of the Internet is limitless, the current reality is that China's Internet users have only just reached 8 million -- by the middle of next year, they will have to reach 20 million in sales, and 30 million in advertising is still a bit insufficient. ”

There are only 8 million netizens in a total of 1.3 billion people, and the traditional advertising medium for marketing has the disadvantage of catching small fish with big eyes. I really can't imagine that the buses that print the advertisements of Internet companies shuttle through the streets and alleys of the city, and the advertisements of Internet companies are played at the end of CCTV TV dramas. It's really doubtful. In the midst of the frenzy of new technology, the Internet elite rarely thinks about these issues – and venture capitalists rarely think about them, and if the Internet elites don't burn their money within the time limit, they will be strongly resentful.

Zhang Ke, Du Fei, Ma Li, and Yang Weiyi worked together to design a marketing route for Excellence.com, whether it is implanting advertisements into computer pirated CDs, whether they will put advertisements on Internet cafes in central cities that are gradually becoming large-scale, or whether they will place advertisements on web portals, the publicity is much more accurate.

Oak Park Venture Capital Fund invested in Quantum Online two years ago, and after cashing out ten times the investment profit before Quantum Online's overseas listing, it still retains a 15% stake in Quantum Online, which is naturally well-known in the industry.

"I really don't understand, Quantum Online is going to be listed on the NASDAQ, what is Kumho doing in a hurry to cash out?" Wang Haisu sat opposite Xie Jiannan and Lin Xue, and commented on Kumho without much scruples, "According to the preliminary listing price, the equity transferred by Oak Park will be transferred after the listing, let alone doubled......... The capital market is king. ”

"If you transfer it after the public listing, it will take another six months to allow the transfer," Lin Xue said with a smile, "Maybe Kumho doesn't have the patience, Mr. Xie, what do you say?" ”

"......" Mr. Xie raised up and looked at the Yangui Lake outside the north window, the north of the lake is the Oak Garden Experimental Park and the Pioneer Park, the dilapidated place two years ago, at this time it has been full of flowers, the scenery is charming, they are in the office of Jianye Software Industrial Park, "Kumho should not be without this patience." He thought to himself, Kumho did not lack the 300 million in his hand, although this money seemed huge in their eyes.

"Maybe it's an obstacle to overseas listing, right?" Lin Xue guessed.

Xie Jiannan nodded, although Lin Xue is not very familiar with the knowledge of the capital market, he can guess some rules, if he wants to be listed on the NASDAQ, how can a domestic company have an absolute controlling stake? However, in his opinion, it may be a way for Kumho to transfer its assets overseas, after all, the part of the equity transferred by Kumho is definitely worth more than $38 million, and Zhang Ke and Kumho's senior management are by no means unsightly. Xie Jiannan thought so in his heart, and he didn't want to share these doubts with Lin Xue and Wang Haisu.

"There's no point in discussing the fat in other people's mouths, especially the fat in Kumho's mouths makes people hate," Lin Xue said, "Let's talk about our affairs, Mr. Xie, you are a professional, you can talk about ......"

The Ministry of Information Industry, the Planning and Development Commission, and the China Securities Regulatory Commission have all jointly issued documents to promote a number of enterprises in the field of new science and technology industries to enter the capital market, so that the domestic capital market can also accept the baptism of a new wave of science and technology, and some people are also actively promoting the establishment of a science and technology stock section in the Shanghai securities market.

Classic real estate does not have Kumho's huge profitability, in Southeast Asia Chinese businessmen do not have Kumho's unique network resources, at least in April '99, the profitability of the real estate industry is not much higher than the traditional industry, classic real estate wants to develop rapidly, can get the funds needed for development from the bank, but after all, the bank loan amount is limited, but also to pay interest - entering the securities market to circle money from the stock market, is a shortcut.

I can't wait for the China Securities Regulatory Commission to launch the technology stock section, and the financial situation of Haisu Technology cannot be directly listed, but so many state-owned listed companies in China are drowning, and the software industrial park business of Haisu Technology can be put into it by borrowing a shell, and the purpose of listing on the curve can be achieved, and the theme of the new wave of science and technology can be speculated.

In May '97, Kumho backdoor its DVD player business was pushed to the Hong Kong stock market, and it swept away 4 billion yuan at once, which was not only a classic talked about in the industry, but also made people want to replicate Kumho's classic battle in the domestic market.

Xie Jiannan knows that Lin Xue's relationship with Ge Jiande, the boss of Huaxia Electronics, and Hu Zongqing, deputy secretary of the Jianye Municipal Party Committee, is extraordinary.

Kumho's video player business was swept away by four billion yuan at once through a backdoor listing, but before the backdoor listing, Kumho's video player business had an annual net profit of about one billion yuan, and after the backdoor listing, the market environment changed, and the preferential tax period gradually passed, and the profitability weakened, but the annual profit of Aida Electronics in 98 years remained above 600 million yuan, and the stock price also returned to a high of 10 billion yuan in April this year -- all of this is supported by market performance.

What does Haisu Technology have?

Xie Jiannan didn't want to get involved.