At the last time he raised funds, Pei Qianlong promised that he would withdraw from the project by the middle of next year.

Davide thought the other party was fooling him.

After all, there are no conventions on paper.

I didn't expect the exact time to be given now, that is, round D, in March and April next year.

"What if you still need money in the meantime?" Davide suddenly thought of this stubble, although he had just raised one billion, but this project burned money too quickly.

"We don't mind raising one or two more rounds, and of course, you can also raise money in Series C+." Pei Qianlong really hated this person's ignorance.

Of the three bike-sharing entrepreneurs he approached, Davide had the greatest ambitions.

Although his FOR development is the best, in the long run, this person is not good at uniting all the forces that can be united, he is too lonely and willful, and he will inevitably suffer in this in the future.

The world of capital is all bloody.

There is no such thing as a situation where you can give your cake to someone else.

Especially the money to buy cakes, as well as other people's shares.

Of course, from Davide's standpoint, his game with capital is not unreasonable.

If he is killed, his FOR will become someone else's FOR sooner or later.

But you're just getting started, and you haven't got all your competitors under your feet yet.

What's more, this industry is in crisis, and there is no specific profit point in sight for the time being.

Davide's remarks also revealed a message, that is, he took financing too seriously.

Obviously a master who doesn't like to be suppressed, but he is obsessed with developing through financing.

It's July now, and it's only half a year until March next year, and one billion is not enough for you to burn, do you regard burning money as development?

Didn't you think to stop and take a break?

Solve the problems that need to be solved urgently due to user feedback in the development process?

If you don't improve your own skills, you just rely on the capital market to pass on your skills.

This FOR is really going to end sooner or later.

Don't look at the rapid development of shared bicycles now, in fact, there are many problems.

For example, when you get off work at night, you may find that there are no cars at the door of the company, and there are a lot of cars parked at the entrance of the community, and when you go to work in the morning, there are no cars at the gate of the community.

To solve this problem, the cost of operation is astronomical.

And within your management team, greed is prevalent, and even people outside have heard that people at the grassroots level can do tens of thousands a month, and it is normal to be a little higher than hundreds of thousands, which is simply a feast of capital wool.

The wool of capital can be picked, and capital is also psychologically prepared, but it is not like this.

Davide had no management experience at all, and he was clearly not a man of decentralization.

In addition, although the bike-sharing has only been developed for a few months, it has experienced the sun and rain, as well as the violent treatment of users, and a lot of cars have become scrap metal.

FOR's bikes are in the worst situation because they are of the worst quality.

Pei Qianlong has seen the future of shared bicycles from FOR, and he deeply agrees with Mr. Lin's point of view, there is no way to hold this industry for a long time, and it is the best situation to withdraw after making a wave.

He's even starting to lose self-confidence.

Will FOR last last March or April next year?

If you don't wait for March or April next year, Kleist can pull out now.

For the project, Kleist invested a total of 265 million in the name of Dalong Technology, and according to the valuation of the C round, if it changes hands now, it can be sold for 1.2 billion.

If this project is withdrawn now, it will make a billion dollars.

If FOR doesn't last out in March or April next year, then more than 200 million will be lost.

Back money?

Inexistent!

If FOR goes bankrupt, they won't be able to return even the user's deposit, and the supplier's payment will not be able to be paid off, let alone the investment return that will be put in the final priority.

If the quality of FOR's car is too poor, then the worship car is too good quality.

Good is too much.

The life of a worship bike is designed according to 5 years, and the FOR may only last for 3 months, so so far, it is rare to see worship bicycles in the scrap metal heaps made by those shared bicycles.

However, with good quality, the cost is naturally high.

Others can build a car for 800 yuan, but she wants 3,000 yuan.

The market is not as big as FOR, but the speed at which she burns money is not slow at all, and even surpasses it.

This time, Hu Wei asked for 1.5 billion in financing.

Bigger than FOR's appetite.

The main thing is that she spends money quickly.

In addition, the backwardness of market share makes Hu Wei a little anxious, on the one hand, she needs funds to build cars, and on the other hand, she also needs to lay the market.

The current growth rate of the market share is the first in the industry.

The growth rate is very fast, and if the growth rate is fast, everyone will be optimistic about the future of this project.

Don't worry about no one buying it.

Due to its better quality and more comfortable riding, its reputation is significantly better than that of FOR, and everyone also thinks that Hu Wei is doing long-term business here, and will definitely have the strength to surpass FOR in the future.

Last time, it was Panda Capital and Joy Capital that entered the game.

This time, in addition to Panda Capital to continue to follow up, a large number of bigwigs in the capital circle such as Sequoia Capital and Hillhouse Capital have also been added.

It's like a pack of wolves surrounding a piece of meat.

Pei Qianlong represents Winter Capital this time, and he is also the second largest shareholder of this project.

His request is very simple, Winter Capital maintains a 25% share, and the rest can be given away.

And Hu Wei, the founder, is even more generous than Pei Qianlong, she originally held 32% of the share, and now she is directly willing to release 12%, which means that she has changed from the first largest shareholder to the second largest shareholder, which is lower than Winter Capital.

And these sacrifices she made in exchange for a high valuation of worship.

The pre-financing valuation was pushed to 3.5 billion - higher than FOR, and once the goal of raising 1.5 billion was completed, the worship bike will become 5 billion.

So, is it hard to get this valuation done?

It didn't take two days before and after, and the person in charge of Panda Capital, who was responsible for initiating this financing, was about to burst out of his mobile phone.

Sequoia, Warburg Pincus, Hillhouse, Joy Capital, Sinovation Ventures, Bertelsmann, and even Tuanmei and Penguin are the capitals that are allowed to enter the market, and there are many, many others that are blocked out.

On the other hand, FOR's Davide, who only brought in a younger brother in the C round.

Because he was afraid, because he didn't want to be swallowed up by capital, he chose a younger brother who could help him FOR to travel.

The valuation is also timid, and in the end, the valuation of FOR is one billion lower than worship.

Before and after, but the gap is a week and a half.

The pre-financing valuation is 3.5 billion, and the original 30% of Winter Capital is worth 1.085 billion, and in order to ensure 25% under the premise of 5 billion valuation, it is necessary to make up the difference of 200 million.

And Hu Wei, because of the diluted share is a lot.

She cashed out 85 million directly.

A project that has not yet arrived in a year has already brought her a real fortune of 85 million, which is not counting the 20% share under the valuation of 5 billion, which is the value of 1 billion.