Li Ming, the founder and CEO of a VR company called Drawing Dreams, has been full of longing and enthusiasm for virtual reality since he was a child.

He successfully completed his studies in domestic universities, then entered foreign universities for further study, and then worked in a large factory in Silicon Valley for nearly ten years, served as the head of the hardware R&D team, and participated in VR projects such as Oculus.

In 2018, he quit his high-paying position, returned to China to start his own business, and led a group of like-minded partners to establish Huimeng, focusing on the development and production of glasses-based VR.

With its own experience and contacts in the VR field, HUIMENG has quickly grown into one of the leading brands in the domestic VR market.

It not only provides games and audio-visual entertainment services in the consumer market, but also provides VR solutions for medical, training, exhibition and other industries in the commercial market, and also has 32 VR invention patent technologies, which are at the leading level in the fields of shooting, compression, transmission and content display.

HUIMENG has also attracted the favor of many well-known investment institutions, and has completed two rounds of financing, with a total amount of 332 million yuan.

However, at the beginning of 2020, HUIMENG encountered an unprecedented crisis, and consumer demand for VR products dropped significantly. The newly upgraded fourth-generation product of Dream Painting released in April.

Because it is an emergency product, although it has improved in performance, it is only in performance, and it is still a bit cumbersome and complex in design, and the consumer experience is not very good.

In an instant, the company was in trouble, with sales declining sharply, inventory overstocking, and a tight capital chain.

Li Ming tried to seek a new round of financing to tide over the difficulties, but due to the deterioration of the market environment, he searched all possible channels and did not find anyone willing to continue investing.

During this time, his hair was much grayer, and he felt that his dream of the metaverse might be shattered.

He didn't know if he would be able to hold on. Every day in the office, at home, he is constantly reflecting on the past, and even begins to doubt, doubt his own judgment and ability, and gradually, even lose confidence in the future of the VR industry.

And at this time, he suddenly received a phone call.

"Hello, I am Wu Zhou, the chairman of Aiying Group, I am very interested in Painted Dreams, if you want, I hope to directly acquire your company."

Li Ming was slightly stunned when he heard the unfamiliar voice on the other side, but then some news about Aiying Group that he had recently swiped in his mind, as well as Wu Zhou's public speech.

For Wu Zhou, Li Ming is very concerned, after all, it is too difficult to be the head in the field of traditional consumer goods, and it is far more than the head of his peers.

He was deeply touched, is his dream painting product not good? Of course, there is a kind of tap water waiting for their new products, and there are also many 'real' evaluation agencies that give 'excellent' reviews. But what is easy to use, can not fully reach the real consumer, or the existing consumer 'nitpicking', do not recognize, just can't sell.

Of course, consumers can't be wrong, they can only be wrong, their products are not perfect enough, their marketing is not good enough, their supply chain is not good enough, they. There's many, many more room for improvement. Li Ming saw the direction of improvement in the future, and he knew where to make efforts, but the market, time did not wait for him.

At this moment, he couldn't help but think that if his Painted Dreams could cooperate with the Aiying Group, if Aiying could help sell Painted Dreams?

But then he recalled what Wu Zhou said just now, acquisition, Li Ming subconsciously wanted to refute, his own hard work, how could he say that he would sell it, this was his dream, but

"Ai Ying Group, if I remember correctly, Ai Ying Group has always been in the field of food and consumer goods, why are you interested in us?" Li Ming asked, when he said this, only he knew, and at this moment, his calves were shaking nervously.

Because Wu Zhou is almost his last straw at present, if he misses it, it may be a few months before Painted Dream has to go out of business.

Wu Zhou on the other end of the phone, with a slight wry smile on his face, the company's food field is indeed developing too well, no matter which company you communicate with, the other party will subconsciously think that Aiying Group is selling food.

However, Wu Zhou didn't bother to explain, just smiled and said, "Our company has a wide range of business, if you are interested, you can find relevant information on the Internet channel, I won't go into details." To get back to the point, our company has always been very concerned about the VR/AR field and has a long-term strategic plan for this area. We believe that HUIMENG is a company with innovative spirit and technical strength, and has excellent products and patented technologies in VR all-in-one machine, VR live broadcast, VR content, etc. This phone call with you is also the result of a detailed evaluation and investigation by the company's department, and we believe that HUIMENG can provide strong support and supplement for Aiying in the VR/AR field. ”

"In addition, we don't care about the difficulties your company is encountering now. We know that this is only a temporary setback and does not affect the value and potential of your company itself. We are willing to buy your company at a reasonable and fair price. ”

Li Ming listened to Wu Zhou's words, and his heart was mixed. He didn't understand why Wu Zhou appeared at this time and proposed to acquire it. He also doesn't know how Aiying will operate Huimeng after the acquisition, whether it will retain the brand and team of Huimeng, and whether it will respect the culture and philosophy of Huimeng. He is more worried about whether he will be able to realize his dream of the metaverse in Aiying's system.

"Can you find out how much your company values us?" Li Ming asked in a complicated mood.

"5.5 billion, of course, this price is not the valuation of Drawing Dreams, but the stock price including the existing company team and you, the person in charge, will continue to serve in office." Wu Zhou said again.

Hearing Wu Zhou's words, Li Ming already had an answer in his heart at this moment. But he still said, "Thank you very much for Aiying Group, as well as Mr. Wu's recognition and trust in our company, and I am also very honored to receive your acquisition proposal." But it was a very important and complex decision for me and I needed some time to think about and evaluate. I also need to consult with my team and investors to hear their opinions and suggestions. I hope you can understand my situation and give me some space and time. ”

Wu Zhou replied, "Of course, I also understand your situation, but this is not an easy decision to make, I will not put any pressure or restrictions on you, you can consider it according to your own ideas." ”

"However, I also hope that you can give us an answer as soon as possible, because our company takes this matter very seriously and does not want to miss this opportunity. If you have any questions, confusion or concerns, you can also communicate with me at any time, and I will try my best to help you answer and dispel them. ”

"Thank you." Li Ming thanked him.

"Okay, so be it. Looking forward to your good news. ”

Li Ming looked at the phone and hung up the phone, and let out a long sigh, he felt that he was facing one of the most important choices in his life, he didn't know what to do, how to choose, and his brain was very chaotic at the moment

At the same time, Wu Zhou on the other end of the phone had a smile on his face.

The answer, Wu Zhou was already clear before Li Ming answered.

There is no problem with this acquisition, and the price of 5.5 billion is also the price at which Li Ming will sell Dreamey in the future.

(End of chapter)