In this Series C financing, the 15 VC investors who participated in the investment all led or followed the investment, and Gates Personal Investment Fund and Google also participated in this financing.

After the completion of this round of financing, the major investors contributed a total of $1.275 billion in proportion, and the equity held by the major shareholders also changed accordingly.

After the completion of the Series C financing, the shareholding structure of Bluestar Technology is as follows:

Option Pool Reserved: 7.11%

Luo Sheng: 41.72%

Goldman Sachs: 9.66%

Tengxun: 9.46%

SoftBank: 8.8%

Venture Capital: 5.8%

IDG：5.47%

JPMorgan: 3.3%

Huajin Securities: 3.22%

Xu Yong: 3%

Sequoia: 1.15%

Gates: 0.5%

Google: 0.5%

Others: 0.31%

After the completion of the C round of financing, it is not surprising that there will be no further private financing.

And Luo Sheng also allotment 3% of shares to co-founder Xu Yong as agreed, officially spun off from the option pool, which also means that from the C round of financing, once there is a new equity change, Xu Yong's equity will also be more or less diluted.

After the C round of financing, several early domestic investors chose to cash out, adding up to a total of 0.25% equity.

But this small 0.25%, the current value is as high as ¥310 million huge sum, Google and Gates' private investment funds participated in the C round of financing this time, and the two sides together got a total of 1% of the equity, for which they contributed a huge amount of ¥1.241 billion.

According to the special agreement in the shareholders' agreement, the shareholders of Bluestar Technology will transfer the equity held in their hands, and the company will have the right of first refusal at the same price.

According to the valuation after the C round of financing, these investors who want to leave the market invested millions in Bluestar Technology in the early stage, and now it has brought more than 50 times the excess rate of return, millions of dollars have become hundreds of millions, even if they cash out now, they are also making a lot of money.

Of course, Luo Sheng chose to repurchase and repurchase according to the company's valuation after the C round of financing.

After the C round of financing, the company's book funds immediately increased by ¥10.55 billion, just waiting for the VC to make the payment, and taking 310 million to repurchase 0.25% of the equity, it is definitely profitable, Luo Sheng knows better than anyone that the future value of Bluestar Technology will further skyrocket.

In addition, he intends to repurchase this equity, not to share it equally among the shareholders of major companies, but to transfer it to the company's option pool reservation, on the grounds that it is for the company's long-term development and the introduction of talents.

This is equivalent to the company's major shareholders to give up a part of their interests to meet the company's development, it must be very reluctant, this is also hundreds of millions, now worth tens of millions of dollars, in the future appreciation may exceed 100 million.

But I reluctantly agreed.

But when Luo Sheng negotiated with several small shareholders who cashed out, SoftBank jumped out at this time, and Li Yan quoted ¥500 million to buy the 0.25% equity on the spot.

This caught Luo Sheng off guard, and other investors were also speechless, sure enough, it was the "Kaizi" of the investment world, no, it was the rhythm of "Kaiye".

The few small shareholders who were ready to cash out were happy, of course, without any hesitation, they decisively sold to Softbank, and they were still looking forward to Luo Sheng also raising the price, and it was best to double it again.

In less than a year, the return on investment is more than 80 times, what could be more enjoyable?

But Luo Sheng gave up decisively, no matter what, Li Yan just raised his hand and repaid his personal feelings, sometimes he has to fight for every inch of profit, but sometimes he has to learn to give up appropriately.

Li Yan is so diligent in helping SoftBank Capital absorb the shares of Bluestar Technology because he also has benefits, because Sun Zhengyi gave him a promise that the more he fights for SoftBank's equity in Bluestar Technology, the more additional remuneration he will give.

When it comes to his own vital interests, of course Li Yan will do so.

After the completion of the C round of financing, Luo Sheng and his entrepreneurial team jointly hold about 51.8% of the equity, and about 48.2% of the equity of external investment shareholders.

However, even if the equity of Bluestar Technology is further diluted, the absolute control of the company is firmly in the hands of the entrepreneurial team, and in the entrepreneurial team, Luo Sheng has absolute control over the company.

The speed of this round of financing is very fast, negotiated on the same day, and signed on the same day.

The signing ceremony was completed at 17 o'clock in the afternoon, and then a temporary media conference was held at the Hilton Hotel to disclose some relevant information about the financing.

It can be said that the timing is the dead place of the card, and not a minute is wasted.

The C round of financing money will be audited, and the follow-up negotiation will go through the entire process in one day.

This is the efficiency and perfection that Luo Sheng pursues.

For him, the time is very rushed, and the time cost here in Luo Sheng is the most expensive, and no cost can be compared.

There are too many R&D projects in the [Azure] project plan of the Cote d'Azur, among which the "blue core" project is still led by him, and the entire [Azure] project has to be coordinated by him.

He didn't want to waste even a day of his time before the [Azure] initiative was successful.

During the dinner, all parties were happy, Meng Qiu and others blew their beards and glared at Li Yan before, and now they are enjoying the wine again.

In business, it is easy to talk about business, but it does not hinder the relationship in private, they are all insiders.

At one of the main tables of the dinner, Luo Sheng sat with a group of major investors, and Xu Chenghua next to him smiled and said: "Brother Luo, I still want to break the casserole and ask in the end, how can Bluestar Technology's online video business be realized?" ”

Others were also quite curious, Xu Chenghua's words were obviously not finished, so he continued:

"During the day in the conference room, you 'dissected' Wikipedia with the investors present, which is indeed a very novel interpretation, but the problem is that Wikipedia has been able to continue to this day not by its own commercialization, but by feelings and crowdfunding. Admittedly, it is a non-profit charity, but even if it is commercialized, it does not generate much profit and has an Achilles' heel. ”

After a pause, Xu Chenghua took a sip of wine, then looked around at everyone and said: "Once Wikipedia chooses to commercialize, it will be its end, why?" My reason is also very simple, after commercialization, the content will inevitably no longer be objective, or more biased, because to meet the needs of advertisers, the quality of the content must be sacrificed, obviously to quench thirst, users will abandon it sooner or later, so Wikipedia can only become a non-profit charity to survive, relying on the feelings and volunteers of users, plus crowdfunding donations to maintain operations. ”

Xu Chenghua saw that the others nodded silently in agreement with this statement, and immediately looked back at Luo Sheng, and said with a smile: "So I came to a non-rigorous conclusion, will BluestarVideo ...... Also facing an embarrassing situation like Wikipedia? In the end, you killed the product that became a failure? If not, how can you achieve the perfect balance between users, content, and monetization? ”

Luo Sheng saw that Xu Chenghua and the others at the table were all listening attentively, waiting for his next posture,

At the end, Luo Sheng said calmly with a smiling face: "In this business, traffic is the foundation of everything, and without traffic, everything is meaningless." Wikipedia doesn't make money, so why do I insist on being a cloud song encyclopedia? This is not to ask how much profit the product can directly bring, but to enrich Yunge search, it can't make money but it must have. ”

"Asking is to increase the user experience, and ultimately improve the vitality and long-term vitality of Yunge search, as the head of the company, if you go to calculate the detailed accounts, the company is finished, I will never calculate the company's detailed accounts, that is what middle and senior management should do, I only count the company's general ledger. If you look it up, you will find that Google has been donating money to Wikipedia, and there is no need to buy it, Google is already the overlord of search engines, but it still keeps donating money to Wikipedia, isn't it worth pondering? ”

"After saying one sentence, as long as you have traffic, if you can't find the opportunity to monetize now, you will be able to find it one day." Speaking of which, Luo Sheng looked at Xu Chenghua and added with a smile: "Tengxun already had more than 200 million users at the end of last year, but before the second half of 2003, he was struggling to seek liquidation. If you don't have a strong user base and traffic base, it's useless, right? ”

Xu Chenghua couldn't find any reason to refute this for a while, so he could only praise it, and then smiled: "It is worthy of being praised as the 'son of the Internet' by "Silicon Valley", and listening to your words is better than reading a book for ten years, haha." ”

Speaking of which, there are still many melon-eating netizens who are entangled in why "Silicon Valley" magazine praises Luo Sheng as the "son of the Internet" instead of domineering names such as "Internet Godfather" and "Internet Emperor".

Actually, what's there to worry about?

Luo Sheng is so young now, how can he give the title of "Godfather of the Internet" against it, and people who don't know still think that he has no old fox in his sixties and seventies.

And the title of "son of the Internet", the first feeling given to people is that this person is very good in the Internet industry, and he is very young.

A domineering name isn't necessarily the right one, and the right one is perfect.

The next dinner, there were not too many surprises, and the business blew each other and it was over.

……