With the announcement of the news, other investors in the venture capital circle saw that Qunxing Capital finally opened the door and planned to let other VCs also get on the bus.

Domestic investment institutions include Perennial Capital, as well as many internationally renowned venture capital institutions, such as IDG Capital, Sequoia Capital, Epoch Capital, Matrix Capital, SoftBank Investment, etc.

The reason why so many venture capital institutions are so enthusiastic is, of course, that they are optimistic about Weibo under Quantum Beat, and now the user scale has exceeded 100 million, and the investment circle is very optimistic.

The most important thing is that Xu Jingren's team's operation and management of the Weibo platform for more than a year has impressed investors, and investors have seen the strong competitiveness of this team through the development of each step and the continuous launch of ideas.

Weibo has just completed a round of financing, and it is not too late to get on the bus now, especially investors are optimistic that the Weibo platform operated by Xu Jingren's team is most likely to stand out from the encirclement, at least in terms of the current development momentum.

At the same time, getting on the bus now also means that the risk is further reduced, although Qunxing Capital ate alone in the early stage, it also took almost all the risks, and it is not too late to get on the bus.

……

Friday, October 9.

This morning, more than a dozen VC institutions at home and abroad gathered to come to the headquarters of Quantum Beat.

In a conference room, Xu Jingren directly called all the VCs to talk together, instead of talking one by one, before meeting with these investors, he had already passed the anger with Fang Hong, and he had a certain number in his heart.

Now Xu Jingren has grown a lot compared to the first year, it can be said that it is not an exaggeration to describe it as swift, and his vision has been greatly broadened.

"I'm sorry, ...... everyone" In the conference room, Xu Jingren looked at people from foreign investment institutions such as SoftBank and Sequoia and said, "Weibo subsidiaries cannot accept your investment. ”

"What? Don't accept it? Why? The person in charge of Epoch Capital immediately asked, and all the foreign-funded institutions present were a little caught off guard.

"Because we plan to have the Weibo subsidiary listed on the A-share market." Xu Jingren said firmly: "The introduction of foreign capital will hinder our future listing plan, so I'm sorry!" ”

As soon as these words came out, the seven or eight foreign-funded institutions present were half fried and expressed their dissatisfaction.

The person in charge of SoftBank suddenly said: "Why do you choose to list on the A-share market?" Is it bad to go public in the United States? ”

Other foreign-funded institutions immediately chimed in, and they really couldn't understand what kind of brain circuit the quantum beating team was, and which Internet company in Greater China was not seeking to go public in the United States?

Xu Jingren replied firmly: "This is for the company to better base itself on domestic development, this is a strategic decision of the company's decision-making level, it will not be changed, and our plan is to land on the A-share market in the next two years." ”

Among the people present, Liu Qizheng, the head of Zhongtai Capital, and Xiao Xiao, the head of Pengrui Capital, were all here, and they including several other domestic investment institutions were first taken aback when they heard what Xu Jingren said, and then they were happy in their hearts.

Especially Zhongtai Capital, Liu Qizheng was silent at the moment, but he was already thinking quickly in his heart.

Foreign capital was rejected by the quantum beating team, and Zhongtai Capital was the most powerful among the domestic VC institutions present.

Therefore, this time it is very likely to lead this round of financing, and Liu Qi originally planned to follow the investment, and the lead investment must be foreign capital.

But now the situation has changed, Xu Jingren does not accept foreign investment, so Zhongtai Capital is the most powerful domestic institution to lead the investment.

At this moment, all the foreign-funded institutions that come here are trying to persuade Xu Jingren not to be full of bells and whistles, honestly accept foreign capital, and then go to the North American NASDAQ to ring the bell and it will be over.

Some foreign-funded institutions even said that they could ring the NASDAQ in 10 months to go public in the United States, and they could operate.

There is no way, foreign capital is in a hurry.

If Weibo lands on Big A, then there will be no chance for foreign capital at all, because the current A-share market has not yet been opened to foreign capital, and there is no such thing as capital going north, so it will have to wait until five or six years later.

"I'm really sorry, but this is a strategic decision of the company's board of directors and it is impossible to change." Xu Jingren remained silent and did not hesitate at all.

Seeing his appearance, the heads of several foreign-funded institutions present scolded in their hearts.

No way!

So the people of Epoch Capital directly flicked their sleeves and left first, and then several other foreign-funded institutions also left helplessly, and left a rather threatening sentence, which means: You won't let me get in the car? Okay, I'll throw money at your competitors, and you'll regret it!

The people from SoftBank Investment have also left, and the remaining VC institutions in the conference room are all domestic institutions.

At this time, Liu Qizheng, the head of Zhongtai Capital, was sitting in a precarious position, looking left and right at several people from peer institutions, and the foreign-funded institutions he thought were gone, and now labor and management were the best.

Liu Qizheng turned to look at Xu Jingren and said with a smile: "Mr. Xu, then you can talk about whether the new round of financing of the Weibo subsidiary can be expanded." ”

Xu Jingren also smiled and nodded: "It's easy to say, but before that, I want to say a little bit, quantum beating energy has today, and the most important thing to thank is the support of Qunxing Capital, don't hide it from you, the company is actually not short of money, even if it is short of money, Qunxing Capital manages enough ......."

What he said was explained and communicated by Fang Hong.

Liu Qizheng, Xiao Quan and other domestic institutions present instantly understood when they heard this, this time it was not quantum beating or the lack of money of the Weibo subsidiary, but to give everyone a chance to get on the bus and share the cake with everyone.

It's really because of lack of money to raise money, Qunxing Capital is stronger than you, and it is also more comfortable than you.

The further subtext is: you have no room for bargaining, I will make a price, if you want to approve, you will go directly to the car, if you do not approve, pull down, and refuse any form of bargaining!

At the end, Xiao Quan, the head of Pengrui Capital, said: "Mr. Xu, just say it." ”

Xu Jingren nodded and said bluntly: "In this financing, we will give a valuation of 7 billion yuan to the Weibo subsidiary, and plan to transfer 15% of the equity to raise 1.05 billion!" ”

"What?"

As soon as these words came out, the investors present were shocked.

Liu Qizheng couldn't help but say: "Directly valued at the unicorn level? The Weibo subsidiary is a bit high. ”

With a valuation of 7 billion, that is, a little more than $1 billion, the valuation of startups has reached the level of $1 billion, and industry insiders call such companies unicorns.

Other investors echoed the opposition, saying that they were overvalued.

The last round of valuation was only 2 billion, which was 2.5 times higher than the previous round of financing.

What's more, the spun-off Weibo subsidiary, the 500 million in the previous round of financing, and 300 million funds are left in the parent company, and the investors present are very clear that the current financing is the Weibo subsidiary that is about to be split, not the parent company Quantum Beat.

Xu Jingren thought about the previous communication with Fang Hong, and then looked at everyone and smiled steadily: "Everyone, I don't want to go into too much detail about the prospects of Weibo, since you want to invest in my company, you should believe that our team can defeat all competitors." ”

After a pause, Xu Jingren said again: "In the Internet industry, there is only the first, there is no second, if you hold the idea that you can't be the first, you can accept the second, it's better not to vote." Since you can be the first, do you think 70 billion is an overestimate? ”

Liu Qizheng and the others couldn't help but be stunned, looking at each other, slightly surprised in their hearts.

This young man, this momentum, this confidence, can only be said to be something.

If you think about it carefully, the Internet industry is indeed the strong one of the Matthew effect, the first in the industry almost occupies more than 70% of the market share, the second only has a share of more than 10 percent, and the rest is other miscellaneous hair.

The most typical is QQ under Penguin, or the search engine Baidu.

Quantum Beat has the determination to take the first place in the industry, and now the momentum has been in the head position, although the competitors are catching up, but the Weibo platform under Quantum Beat has been leading, the key is to always launch innovative elements, indicating that the company has a strong vitality under the leadership of the team.

Liu Qizheng and others quickly thought of another point, the team has the guidance of a master behind it, the previous arrangements, especially the shutdown of Fanno, the safe and sound of Liangdong Weibo, and the response to the previous traffic attack incident, etc.

Without the guidance of a master, it shows that this team is not simple and has great potential.

The investors present were all thinking in their hearts and were not in a hurry to express their stance on the spot, but they had already made a decision in their hearts.

……