"Unfortunately, due to NewPay, the use of electronic payment software only on PDAs is too limited, and we need to think about this investment again." Nokia's senior investment manager was ashamed, and NewPay made his immediate boss decide to kill the investment.

Of course, it is an act to be ashamed, and the contract signed on paper can still be broken, let alone just a verbal promise.

The reason for the performance is because he is optimistic about Peter Thiel, thinking that although they cannot reach a cooperation on this project, there may be other opportunities for cooperation in the future.

Peter Thiel was an executive at several Internet companies before founding Confiniti and was a professor of law at Stanford University.

Anyone who knows a little about Ameriken will have a vague idea of the Stanford law professor, which is that the position is socially rich in resources.

Even the head of Nokia's investment fund, Kleist Mahnivalti, did not want to offend Peter Thiel, let alone his small investment manager.

"We're going to expand into more areas as well, we're not just going to be limited to PDA devices, we're going to expand to computers as well, and in our plans, we want to do the same way as NewPay."

"Peter, I understand that PDA is just your first step, and there is a broader market for computers.

But do you have a desktop product now? Even if it's a demo? ”

"We are developing, we need manpower, we are already developing electronic payment products on the computer side, but it will take time."

"Yes, you guys need time, but in this time, NewPay is expanding, I don't deny the potential of the electronic payment space, Newman entered this field and gained more than a million users in just one week, which has fully demonstrated the potential of the electronic payment space.

Unfortunately, NewPay is already ahead of you, and it's hard for you to gain an edge on this track. ”

"We have a unique advantage over NewPay in our security model, and even if we can't get the advantage in the market, our advantage in the security area can attract NewPay to buy us.

It's only $1.5 million, and it's definitely not a loss for you! ”

The senior investment manager pondered and said, "I will make a deeper assessment of the whole market and your products, and then report upwards, and I will tell you as soon as possible whether I want to invest or not." ”

Back in the office, Peter Thiel was lying on the couch, and every time he interacted with someone from a financial institution, he felt like he had run a marathon, and he felt physically and mentally exhausted.

Max Levchen walked in: "Brother, how's it going?" What does Nokia say? ”

"Nokia they need to go back and talk about it, Nokia is still very interested in our project, and they think that although NewPay has a huge advantage in terms of the number of users.

But we also have our advantages.

It's just that because of Deutsche Bank's withdrawal, they need to think again. ”

Yes, Nokia Investments is too important for the nascent Confiniti, Deutsche Bank spoke to Peter Thiel only yesterday and adamantly stated that they would not invest in Confiniti.

Claessen, the head of Deutsche Bank's VC department, spoke to Peter Thiel personally.

Originally, Deutsche Bank and Nokia Investment Fund invested $3.5 million in Confiniti, of which Deutsche Bank invested $2 million and Nokia invested $1.5 million.

The investment was personally led by Clawson, who believes that Confiniti's online payment system has the potential to change the way payments are made in the future.

But now it's different, and more potential online payment systems have emerged, and to some extent have changed the way they pay now.

When the number of NewPay users successfully crossed the million mark, major game developers came to the door to express their desire to sell their games through Riot Games.

This shift has led to NewPay firmly controlling the video game payment scene.

As long as people who are slightly sensitive to the market, they will realize that NewPay is already a company with users and users have a stable demand for NewPay.

This kind of company in Silicon Valley means half the success, and the other half is going public.

"Okay, I hope Nokia can invest in us, they have been very keen to invest in emerging technology companies in the past two years, if Nokia rejects us, it will be difficult to find other investment funds willing to invest in us in the future." Max said.

In 1999, not only Nokia was in full swing, but Nokia Investment Funds was very vocal throughout Silicon Valley, investing not only in PayPal's predecessor Confiniti, but also in a series of startups such as Redback Networks, NetScaler and Atrica.

At the same time, Nokia Investment Fund and several other venture capital firms jointly invested in a $215 million fund focused on investing in emerging Internet companies.

In addition to Nokia Investments, the $215 million investment fund includes San Francisco-based Alloy Ventures, Sweden's Investor AB, Germany's Techno Venture Management, Switzerland's Rothschild Group and Lion City's EDB Investments.

In other words, once rejected by Nokia, the above-mentioned investment institutions will close the door to Confiniti.

Peter nodded: "I know, I know, I will convince them."

If the other party refuses, I will personally convince Kleist. ”

Peter still has the subtext unfinished, and that is: even if it comes at a great cost.

The next day, he received an email from Nokia's investment manager, along the lines of: "Sorry, Nokia Investment Funds can't invest in Confiniti." ”

Peter immediately called: "Why?

Didn't you say yesterday that you would do another in-depth investigation of us? It's not even 24 hours, is your Nokia investment fund so efficient? ”

Peter belonged to a little anxious.

"I'm sorry, NewPay has just released the news to the outside world, they will open the first round of financing in the near future, and Confiniti has no chance."

Peter quickly grasped the crux of the matter.

Newman's reluctance to accept outside funding is as well-known as he is for product innovation.

From the beginning of the business, he only accepted investment from Bill Gates, or investment in the situation of share transfer.

The more dismissive the current trend of venture capital, the more investors flock to Newman.

Peter had heard from friends in his financial circles who had reached out to Newman through various methods to try to invest in Riot Games.

NewPay announced that it would accept external funding, and with the potential that NewPay has shown, they will be able to get investment, and the amount of investment they will receive is not a mere multi-million dollar.

This will create a snowball effect, and the gap between Confiniti and NewPay will widen.

"Okay, I get it." Peter's voice was low and his face was gloomy.