Zhou Kui is the second person in Sequoia Huaxia after Shen Nanpeng, if he can't change his mind, then Zheng Wentong's idea of starting a round of financing with a valuation of $1 billion will be in vain, and Cheng Liyuan secretly sweats for Zheng Wentong.

"Mr. Zhou is right, the number of users does not represent the valuation, today's headlines are now 500 million users, and 600 million in September. What is ByteDance's current valuation? At least $6 billion, if the number of users can represent the valuation, then the minimum valuation of Weitoutiao, which has 200 million users, should be $2 billion. Zheng Wentong made a joke.

ByteDance will complete its Series D financing in December this year, with a valuation of $11 billion, and sell 9% of its equity to raise $1 billion. Zheng Wentong knows that ByteDance has been polishing their short video application, but the trademark Douyin has been applied for in advance by Microgram Information Technology, and he is actually curious about what the short video application launched by ByteDance this year is called?

Zheng Wentong continued to explain, "Now I will explain to you why the current Micro Ke Xinke is worth 1 billion US dollars, and we will use the 200 million US dollars from this financing for what we do. ”

"There are a lot of overlaps between our business and ByteDance, but there are also a lot of differences. The financial business of Byte is very slow, and we will actively embrace the financial business. Zheng Wentong said.

"On the 15th of this month, CEFC Small Loan, a subsidiary of the slope system, and Pinduoduo cooperated in many ways to launch Xiaopin, which is actually a test of the slope system in terms of financial business."

"We, We, We, will launch the WeInsurance, We, on May 21 to provide insurance services for Wetoutiao users. The Wesure Mall is provided by CEFC Insurance Brokers Co., Ltd., where users can purchase policies from many insurance companies such as China Life, Huafu Life Insurance, and Sihai Life Insurance online, so as to realize online insurance purchase, online electronic policy, online claims, and provide one-stop services. Wesure Mall is expected to bring 500 million revenue to this year's Weke Xinke. Zheng Wentong said.

In fact, the We-Insurance Mall is a reference to Shuidi Bao or Ant Insurance, and CEFC Insurance Brokers Co., Ltd. sells insurance policies to users of We-Toutiao, and CEFC Insurance Brokers Co., Ltd. settles the platform commission fees to We-Toutiao.

Hu Zemin of Magic Capital sat between Xiong Xiaoge and Zhou Kui, "The industry has always said that Zheng Wentong was born as a code farmer, but compared to the Internet, I feel that Zheng Wentong understands the financial industry better. ”

"Zheng Wentong has a good personal relationship with Mr. Zheng, the retired leader of the insurance system, and it is not just a simple relationship between his nephew in the same village. Last time I went to the slope to invest, Zheng Wentong's office hung a painting given to him by Mr. Zheng, 'There will be a time to ride the wind and break the sea'. There are other leaders on Yanjing's side who are supporting him, and his financial knowledge should be a famous teacher and a high apprentice. Xiong Xiaoge never expected that Zheng Wentong's financial knowledge actually came from seven or eight years of work experience in the financial system before his rebirth.

"Starting from the third quarter, our three apps, Weitoutiao, Weiyin and Weiyue, will start to advertise the loan platform, of course, we will screen. We will not accept loan platforms with an annual interest rate of more than 24%, mainly for loan platforms owned by consumer finance companies and Internet giants. Zheng Wentong continued.

In this regard, Zheng Wentong still cherishes feathers. After the exposure of the Wei Zedong incident in Qiandu, the slope system became the only Internet platform that rejected Xinghua's private hospitals.

Zheng Wentong passed an internal reference article by Feng Qingsong, dean of the School of Law of the University of Finance and Economics, to let Internet financial companies start rectification several years in advance, strictly abide by the red line of 24% annual interest rate, abolish the yin and yang contract and cut the interest. How could Zheng Wentong allow those usurious online loans that have been remodeled to resurgence in micro-headlines, micro-tones and micro-reading, smashing the reputation he has built up with great difficulty.

"Here, I would like to focus on the revenue of our micro-Ke Xinke, because it is not a listed company, so this information is also the first time that we have announced it to the public."

"In 2015, the revenue of our microgram information technology was 500 million yuan, of which 95% of the revenue came from the advertising revenue of Weitoutiao, and 5% of the revenue came from the microreading."

"Up to now, our revenue is 1 billion yuan, of which 72% of the revenue comes from Weitoutiao, 24% from Weiyin, and 4% from Weiyue."

"Everyone has probably also noticed that the revenue growth potential of the short video app Weiyin is significantly higher than that of Weitoutiao. The number of users of Weiyin is only a quarter of that of Weitoutiao, but it contributes one-third of the revenue. ”

"According to my estimate and that of Director Zhong Yiqi, our revenue in 2016 is expected to be between 2.5 billion and 3 billion. It can almost reach the level of between 40% and 50% of ByteDance. Zheng Wentong said.

"At present, there are 1,243 employees in Micro Ke Information Technology, of which more than 60% are in the R&D department. The monthly loss of Weiread continues to narrow, and the loss in April was 3.41 million yuan, which is correct, right? Yang Ji? Zheng Wentong said.

"That's right, Mr. Zheng, we will be profitable after the third quarter." Yang Ji replied.

"The content I introduced above is to show you our family background. Next, let me tell you what we plan to use the $200 million for after the financing. Zheng Wentong said.

"At present, the income of Micro Ke Xinke can cover the expenses, it is almost self-sufficient, and the need for financing is not as urgent as imagined. However, as our competitor, ByteDance is developing rapidly, so it is necessary to raise funds early. Shanghai Pudong Development Bank has provided us with a revolving credit line of 1 billion yuan, but I am not willing to use bank loans unless absolutely necessary, and Xiong always knows my character. Zheng Wentong said.

"The $200 million raised is mainly used for three parts of expenditure, and Micro Information Technology will invest 500 million yuan to support short video creators to create better videos, and we will incubate more Li Ziqi."

"I believe you have recently known that Li Ziqi snail noodles have been listed, and there are also investment representatives from Ahri here. Let me reveal a little here, the sales volume of Li Ziqi's brand snail noodles has exceeded one million in half a month, creating a revenue of 40 million for Weimeng Media. Zheng Wentong's words are still unfinished, after all, how to hatch more Li Ziqi He did not elaborate, and he did not elaborate on when Weiyin would get involved in the e-commerce business.

Zhong Yiqi looked at Zheng Wentong on the stage, he agreed with Zheng Wentong's idea of all in short video applications, since ByteDance has not launched their short video applications, then invest money in the market first, and form an advantage in the number of users, so as to offset the advantage of ByteDance's algorithm.

The number of users of Toutiao is more than twice that of Weitoutiao, and even if Zheng Wentong invests 500 million yuan in this year's spring sprout plan, the effect may not be good. It is better to invest 500 million yuan in the short video application Weiyin, which can attract more self-media experts to enter Weiyin and create more excellent original content, so as to retain users, and then also drive new users to register Weiyin.

This is like building a building, a two-story building with one floor, obviously not as conspicuous as building another one-story building next to it.

"In the second step, Micro Ke Information Technology will buy a third-party payment license in the second half of the year, which is expected to cost about 200 million yuan. With a third-party payment license, Weitoutiao can better carry out financial business. Zheng Wentong did not specify that he would carry out those financial businesses, after all, he understood everything.

"In the third step, Weke will invest more money in recruiting talents and expanding diversified income sources, such as adapting the popular ones on WeRead into anime or games, and Weke will set up a separate game department for the development of click-and-play mini games. We will also increase the proportion of overseas talent recruitment, and we plan to spend one to two years developing an algorithmic engine. Zheng Wentong said.

Xiong Xiaoge and Zhou Kui in the audience listened carefully to Zheng Wentong's explanation and agreed that Zheng Wentong was ready to use all the $200 million raised from the financing for the development of Microgram Information Technology. After many entrepreneurs defraud investors, they use it to buy luxury houses, luxury cars, and misappropriate land for other purposes.

Xiong Xiaoge actually expects Zheng Wentong to explain in depth the possible e-commerce business of Weiyin, after all, this part is more imaginative. Weimeng Media, a subsidiary of Slope Investment, has a monthly income of no less than 200 million yuan just by relying on live broadcasting.

If Weiyin carries out e-commerce business, it will definitely be promising, but Zheng Wentong's side may be hindered by the presence of Ahri's investment representative, so there is no in-depth explanation in this regard, Xiong Xiaoge and Zhou Kui also understand this.

After Zheng Wentong's introduction, most investors expressed certain conditions of recognition for the valuation of Weike Xinke's $1 billion. Finally, IDG Capital, Ahri, Magic Amount Capital, Puhai Guotou and Pulse Investment participated in the Series A financing of Micro Ke Xinke.

IDG Capital invested US$80 million, Ahri invested US$80 million, Moli Capital invested US$10 million, and Puhai Guotou and Pulse Investment each contributed US$5 million.

After the completion of the financing, the equity composition of Micro Ke Xinke is 80% held by Zheng Wentong, 8% by IDG Capital, 8% by Ahri, 1% by Magic Capital, and 0.5% by Puhai State Investment and Pulse Capital.

Zheng Wentong's stake in Micro Ke Xinke is worth 800 million US dollars, equivalent to 5.2 billion yuan. Zheng Wentong set up a 3% option pool with the management headed by Wang Zhiliang and Zhong Yiqi, and gradually cashed it out according to the listing progress of Micro Ke Xinke.

On May 20, Sina Finance published a news: It is reported that Weike, the parent company of Weitoutiao, completed a round of financing, led by IDG Capital and Ahri, with a valuation of $1 billion, becoming another unicorn enterprise in the Chinese Internet industry.

Founded only one year ago, Microgram Information Technology has continuously created a variety of applications such as micro-headlines, micro-reading and micro-sound. What is amazing is that Zheng Wentong, the founder of Micro Ke Xinke, is a post-90s generation, energetic and energetic, he is involved in the Internet, film and television, investment, finance, insurance, commercial real estate and M, etc., established less than two years of slope investment has built a business empire with an annual income of billions and assets of more than 10 billion.

I believe that in April next year, Zheng Wentong will not only appear in the Forbes Elite Edition, but will appear on the Forbes rich list. According to the equity of the slope system, Zheng Wentong's personal shares have a market value of more than 10 billion, and Zheng Wentong may be the youngest billionaire in the Internet industry?

"The Legend of the Fairy Tree"

As soon as this report from Sina Finance came out, other financial media such as Phoenix Finance and Penguin Finance reprinted the report with the title .....of "The Youngest Internet Billionaire", and Zheng Wentong suddenly fell into the center of the whirlpool of public opinion.