At the same time, Xu Chenghua looked at Luo Sheng and asked neatly: "Brother Luo, how much venture capital do you want this time?" How much equity is transferred? You say, we nod or shake our heads. ”

The others didn't speak, obviously there was no objection, with the foreshadowing in front of them, they understood Luo Sheng's strength, and they didn't bother to open the conditions themselves, anyway, if he was not satisfied with the end of the opening, then save this link, let Luo Sheng take the initiative to speak, and then nod or shake his head.

When you meet this kind of founder, you don't want to take the initiative, or don't invest money.

Luo Sheng said simply and clearly: "The pre-A round of financing is 77 million yuan to sell 7% of the equity, with a valuation of 1.1 billion. ”

Xu Chenghua and the other three investors who came to occupy the pit did not speak, they just acquiesced, and now Liu Wen and the three of them dare not underestimate this young founder.

The valuation of 1.1 billion is not far from the highest valuation in their hearts, and Li Yan's valuation of Bluestar Technology is between 10~1.3 billion.

Hearing this, Liu Wen couldn't help but regret once again that he couldn't rob Xu Chenghua of getting the angel round of investment first, so that Lao Ma occupied the biggest pit and gave the least money.

It's so angry!

1 million to sell 8% of the equity, now 77 million to transfer 7% of the equity.

However, although it is too late to grab the pit, it is not too late, the pre-A round of financing is much stronger than the subsequent rounds of financing, as long as the development momentum of Bluestar Technology is good, the subsequent valuation will only get higher and higher, and the same proportion of equity is not tens of millions, but hundreds of millions or even higher, of course, the risk will be lower and lower.

The transfer of 7% equity financing of 77 million, the equity of the original shareholders will also be diluted accordingly.

It is worth mentioning that Xu Chenghua, on behalf of Teng Xun, signed a weighted average clause to ensure that the preferred stock shareholding ratio will not be wildly diluted, and similarly, the three new shareholders will also require to sign a weighted average clause to ensure that the share ratio will not be wildly diluted in subsequent financing.

Luo Sheng will naturally agree, everyone is the same.

However, the matter of investors' request to set up a board of directors and a board of supervisors as soon as possible Luo Sheng temporarily made up a bunch of reasons for the early stage of the company's development, and what he said made sense, and the investors agreed to him for the time being.

Liu Wen said: "I agree with this valuation, and I am willing to invest, I can agree to the absence of a board of directors and a board of supervisors for the time being, but I have one last request, Mr. Luo, you must agree." ”

Luo Sheng: "Please speak." ”

Liu Wen: "Bluestar Technology has completed the angel round of financing, but I found that Mr. Xu does not seem to require you to set up an option pool reservation, before the pre-A round of financing stage, you must establish an option pool in order to reserve for the future company to recruit talents, the option pool is from your founding team, and Teng Xun, we will carry out the pre-A round of capital increase and share expansion after completing this step." ”

Xu Chenghua said with a smile: "I forgot to mention this at the time, and I lost a lot." ”

The three new investors laughed, as if to say: I believe you are a ghost!

In fact, he really forgot, Xu Chenghua was very helpless.

Luo Sheng did not object to this, nodded and said: "No problem, we will set aside 15% as an option pool, but I will hold the 15% option pool and enjoy the voting rights." ”

Several major investors also expressed no objection to this.

In fact, in the angel round financing stage, investors should ask for the establishment of an option pool, but Xu Chenghua did not mention this at the time, of course, Luo Sheng would not have stupidly proposed it, and now the 8% equity held by QQ will also be diluted into the option pool.

This is not included in the weighted average clause.

After roughly finalizing the overall situation, it was relatively smooth, and it took about 20 minutes for the two sides to discuss the results and reach a consensus, basically determining the equity structure of Bluestar Technology after the pre-A round of financing.

After the completion of the pre-A round of financing, the proportions of each major shareholder are as follows:

Option Pool Reservation: 13.95%

Luo Sheng: 72.726%

Tengxun:9.124%

SoftBank Capital: 1.7%

Venture Capital Funds: 1.4%

IDG：1.1%

Among them, the equity reserved by the option pool is held by the founder Luo Sheng, and the 3% reserved for Xu Yong has not been allocated to him, which is counted as the option pool reservation, Luo Sheng has also discussed it with him, if you take it now, you can also take it, but it is recommended that Xu Yong do not take it when it is occupied, and then issue shares when the IPO is listed, if it is reserved from the option pool now, the future financing will be constantly diluted.

Obviously, Xu Yong chose to follow Luo Sheng's advice, and he also believed that Luo Sheng would not trap him.

Because of the problem of setting up an option pool in this round of financing, Teng Xun suffered a little loss, originally accounting for 8% of the shares, and the establishment of the option pool was partially diluted, but after the completion of the pre-A round of financing, Teng Xun's total shareholding ratio rose to about 9.1%, becoming the second largest shareholder of Bluestar Technology and the largest external investment shareholder, and Xu Yong became the third largest shareholder of the company.

Several major investors invested in Bluestar Technology according to their respective shareholding ratios, totaling ¥77 million.

It can be seen from the pre-A round of financing that the earlier you invest in the pit, the less money you will invest, the more equity you hold, but at the same time, the greater the risk;

Conversely, the later you invest in the pit, the more money you invest, the less equity you hold, but the less risk you take at the same time.

Luo Sheng reached a consensus with several investors, and the next step was the official signing ceremony, but he would not sign a contract at the Blue Star Studio, but decided to go to the Baiyue Hotel to complete the formal signing ceremony.

When recruiting new employees before, Luo Sheng did not recruit a lawyer because he could not afford to hire a professional lawyer, but now that he has the money, he can hire a team of lawyers to be responsible for the company's legal affairs.

As for the signing of this pre-A round of financing, Luo Sheng will not sign rashly, the contract is drawn up by the VC party, he needs to temporarily hire a lawyer to review the contract to avoid traps in the contract, he doesn't want to see these complicated terms and conditions, let a professional lawyer solve the best, as for the lawyer's fees can be counted into the company's financial expenses reimbursement.

Luo Sheng's all this is in the eyes of Xu Chenghua, Li Yan and other investors, he is too cautious, and he will hardly let himself let go of any potential mistakes, even if he sets up a scheme, he will probably be discovered.

In this regard, several investors are helpless, but they are a lot more relieved, with a founder like Luo Sheng at the helm of the company, their confidence has increased a little.

After all, only when the company is well operated can investors have a profit return.

After the interests were negotiated, the attitude of several investors towards Luo Sheng also changed, and they all left the reception room with a smile and left the Bluestar Technology Studio to sign the contract.

Xu Yong and the others saw Luo Sheng follow a few VCs out, and hurriedly caught Erin, who was following.

"Xiao Ai, wait a minute, how is the boss talking to those investors? It depends on the situation, it should be negotiated, how much money has been melted? Xu Yong couldn't wait to say.

"77 million to sell 7% of the company's equity, come back and ask Brother Luo." Erin said a simple word and quickly followed, he was Luo Sheng's assistant, and he went out to sign a formal contract this time, so he naturally had to go over.

When an employee heard this astronomical number, he couldn't help but smack his lips: "Oh my God! 77 million, but only 7% of the equity was transferred, but the last angel round of financing 100 was 8%, and this time 77 million is still 1% less? Are those VCs caught in the door? I was wrong, I shouldn't have questioned the boss. ”

……

Hyatt Hotel, a meeting room.

There were more than a dozen people in the room, and Luo Sheng and 4 investors sat at the conference table together, and more than three hours had passed unconsciously.

Erin sat to Luo Sheng's right, and to the left sat a lawyer he had hired from the law firm.

At this moment, the conference room was very quiet, and the team of lawyers who took over the case was silently reviewing the contract that had just been drafted without saying a word, and after a few minutes, they finally closed the documents, and the person in charge looked at Luo Sheng and said, "Mr. Luo, the contract is fine." ”

Hearing this, Luo Sheng nodded, and Sister Erin, who was sitting next to her, understood it and gave Luo Sheng the official seal of Bihe Company.

There are a total of four contracts and eight documents, Luo Sheng signed them one by one with a wave of the pen and stamped them with the official seal of Bluestar Technology, and then the two sides exchanged documents, Li Yan and they got their respective contracts and completed their signatures, exchanged documents again, and each held one copy and shook hands with each other.

At this moment, Luo Sheng was shaking hands with Li Yan, the responsible investor of SoftBank Capital, and said with a smile: "Mr. Li, collect the contract and wait for the future to lie down and count the money, this contract is conservatively valued at billions in the foreseeable future." ”

Li Yan, who shook hands, smiled, billions? That is to say, the market value of Bluestar Technology will reach six or seven hundred billion in the future?

I really don't know how to deal with him, Li Yan said with a smile: "Mr. Luo, your cake is getting bigger and bigger, and it is getting more and more empty." ”

Xu Chenghua, who immediately signed the contract and shook hands with Luo Sheng again, said with a smile: "So, my 9 points are worth more than 50 billion?" ”

Luo Sheng smiled: "Look forward to it." ”

……