This North American trip, Luo Sheng stayed in the United States for more than half a month, and when he returned to China, it was already January 14.

It was quite surprising to Luo Sheng that the three founders of YouTube would join the North American branch of Bluestar Technology by such a coincidence, which shows that it is right to set up the branch in the Bay Area Silicon Valley.

During the business trip to the United States, the news of the B round of financing had already spread back to China, and only 10% of the ¥325 million financing was sold, with a valuation of about ¥27 billion, becoming the first unlisted unicorn-level startup in China.

These figures, along with the news published in the media, made people in the domestic Internet industry suddenly, and their financing amount and equity transfer ratio have shocked the attention of industry insiders.

Bluestar Technology was established in February last year, and it is less than one year since its establishment, which is about 11 months, and in less than a year, it has been financed four times from the angel round of financing to this round of B financing.

The first time was $120,000, the second time was $9.3 million, the third time was $72 million, and the fourth time was $325 million, and in less than a year, Luo Sheng had already taken $400 million in financing from investors.

Its financing history is a myth, and there is absolutely no second one in the industry.

For his peers, when they heard the news, they were extremely shocked, and even doubted its authenticity for a while, but after it was confirmed to be true, they were all filled with envy, jealousy and hatred.

It's very angry!

is also an Internet entrepreneur, the gap is so big?

If you break your leg to finance a sum of money here, you may not be able to get it, but you can get hundreds of millions of dollars on a casual trip.

When the news first came back to China, major media were hyping up Luo Sheng's trip to Wall Street, and at the same time, all eyes were focused on the start-up Bluestar Technology.

It is accompanied by the same questions from many industry insiders: Why is Bluestar Technology valued at ¥3.25 billion, or ¥27 billion?

As a start-up company that has only been established for one month and one year away, it is not only young, but it has not yet generated a penny of profit.

Why is it so favored by capital?

In less than a year, four investments in a row, each time more exaggerated than the other, voted to Luo Sheng to let him toss and not be afraid to play off?

The key is that the investment institutions that endorse Luo Sheng and Bluestar Technology are bigger than the other, IDG, venture capital, Huajin Securities, Sequoia, SoftBank, Morgan (its investment bank), Goldman Sachs, any of them are like thunder in the capital circle.

For other start-ups, as long as any of these investment institutions endorse the company's financing, they are very happy and can hype it up to the outside world.

However, while the outside world was shocked by the birth of this huge amount of financing, when they saw the list of investors of Bluestar Technology, almost all of which were Wall Street capital, a new wave of doubts suddenly appeared in the industry, or rhythm.

……

"Please come in."

In Luo Sheng's office, today is the second day after he returned to China, and after taking a day off yesterday to reverse the jet lag, he will officially start work today.

The person who walked into his office was Bowen Zhang, the company's chief operating officer.

"Mr. Luo, there has been some negative news about the company in the news in the past few days." Zhang Bowen said when he came in.

"Negative news?" Luo Sheng couldn't help but look up at the other party.

"Yes, many media and online public opinion are questioning whether Bluestar Technology is a domestic company or a foreign company? Why not find a domestic investment institution and so on. Zhang Bowen said.

Hearing this, Luo Sheng shook his head with a smile, sighed lightly, and said: "I'm afraid this question has to be asked to the domestic VC, in the early days of the company's business, I personally ran more than 30 institutions, almost all over the country, and unfortunately no one voted for me." ”

Saying that, Luo Sheng spread his hands, at the beginning of the company's establishment, he actually wanted to introduce domestic venture capital, and only at that time had the opportunity, and the reason was very simple.

First, there will not be too much money in the initial stage, but the equity will not be less, Teng Xun will get 8% for 1 million in the angel round financing stage; Second, the strength of domestic VC institutions is not very good, and they cannot compete with foreign investors such as Goldman Sachs and SoftBank.

In fact, Luo Sheng still opens the door for all the capital, but the problem is that there is only one Huajin Securities, or the national team, and now it is too late for domestic capital, 90% of the investment institutions have been hooked, and now a financing is hundreds of millions of dollars sky-high, how many domestic venture capitalists have such strong capital? How many capital institutions dare to use so much money to invest in Bluestar Technology?

In Luo Sheng's original vision, the financing process of Bluestar Technology, the initial angel round and pre-A round, was led or co-invested by domestic capital, and the valuation was relatively low at this time.

Starting from the A round of financing, it is necessary to take the initiative to introduce external capital, mainly Wall Street capital.

First, the valuation of follow-up financing is high, and the amount of money is more, and secondly, there are certain requirements for venture capital itself, which requires both background and strong capital, and Wall Street's capital is the best choice.

Because this is also related to the company's global layout, without the introduction of Wall Street capital, the difficulty of Bluestar Technology to go to sea can be called hell, even if the introduction of Wall Street capital, and so the company will still face many obstacles and difficulties from the Americans when it becomes bigger and stronger in the future.

But Luo Sheng will never give up the global market because of difficulties, if Bluestar Technology does not introduce Wall Street capital, the global market will have nothing to do with you, and you can only hold on to the Greater China market in the end.

Even if the company's income can reach 10% in the mainland, all of it will be obtained for itself; However, if half of the company's equity is transferred, the global market will be obtained in return, and the company's income can be 100, even if it is divided in half, it can share 50 of it, although half of the benefits are ceded, but in fact, it gets several times the benefits, and still has absolute control over the company.

How to choose, this is possible to vote with your feet.

It is precisely because of this that there is such a thing as a community of interests in this world.

Even if the company goes public in the future, whether the stock will pay dividends, how much dividends, and how to divide them, as long as the control of the company is firmly in the hands of the founder, the founder has the final say.

Apple's cash reserves once reached $100 billion or two, but Jobs set the tone and insisted on not paying dividends for more than 10 years, and shareholders had no temper at all.

"Don't pay too much attention to these public opinions, but keep an eye on them." Luo Sheng thought about it and said in a deep voice, so far, the total external capital of Bluestar Technology has only accounted for about 29%, of which 10% is held by Teng Xun.

Obviously, this is the behavior of some media to attract people's attention and deceive the click-through rate, Luo Sheng and his team still account for nearly seventy percent, and his personal shareholding has not been less than 51% so far, and the media said that Bluestar Technology Company is a foreigner.

This external questioning did not have any impact on the company, the financing of 325 million US dollars, he will not be idle when he gets the money, so much money lies in the company's capital pool, depreciating every day, and it has to be effectively used.

……

(What's the swelling of today's three chapters?) So it's okay to ask for a ticket collection or something? The big guy with the book list adds the book list~~)