The office of the registration network occupies half a floor, with desks, website logos, messy data placement, and floor-to-ceiling windows that can overlook the first tertiary hospital to enter the website, the First Affiliated Hospital of Anhui Medical University.

At first glance, it's really decent.

Zheng Lang looked at it for a while, and his eyes were on the hot pot table in the center.

He smiled: "We call this a side stove over there, and we are a side hearth night talk today." ”

When Fang Zhuo heard this, he immediately said, "Zheng is always from Guangdong Province? ”

Yu Hong and Zhou Xin next to them didn't know that "playing the side stove" was a shouting in Guangdong Province, the former went to press the power of the hot pot, and the latter diligently moved the stool to the table.

Zheng Lang nodded, and couldn't help but praise: "After chatting all the way, Mr. Fang really has insights that don't match your age, I'm like you at this time...... It seems that he only knows how to read, and it will be less than two years before the college entrance examination will be resumed. ”

He sighed: "In a blink of an eye, sometimes it really feels like a dream. ”

"I just can't read well, and I admire people who can read the most. Fang Zhuo said with a smile, "Mr. Zheng is very powerful, at that time, thousands of troops crossed the single-plank bridge." ”

Zheng Lang shook his head: "The competition is not small now, but studying and going to school is the most suitable way for ordinary families." ”

The vice president didn't say much, and he suddenly thought that there was a child of a cadre family here.

"Sit, sit, Director Zhou also sits, and you can eat less motion sickness. Zheng Lang greeted and said casually, "Your office is quite empty, open the window after we finish eating, lest the staff arrive tomorrow with the smell of hot pot." ”

Zhou Xin's throat couldn't help but slide up and down, eat less, eat less.

Fang Zhuo nodded and smiled slightly: "At this stage, we basically need to run out, and we have to contact the hospital, and the office actually doesn't take long. ”

Zheng Lang didn't feel any different, and the registration network itself hadn't been too long.

Yu Hong sat opposite Fang Zhuo, looking at the expression of this goods, well, the office is indeed not too long, and I also found a lot of people to help in the afternoon, there is a computer in the independent office that only has a screen, and even the host computer has forgotten to take it.

The hot pot soup began to bubble up a hint of heat.

"Mr. Yu. Zheng Lang felt that it was time to talk about the topic, he looked at the young Yu Hong, and said slowly, "I saw Mr. Fang in Lin'an this time, and I was really surprised when I saw the registration network, and the exploration of the Internet and medical ecology is amazing." ”

Yu Hong didn't know what Fang Zhuo had done in the past two days, so she really turned back a venture capital executive, and overnight, she said cautiously: "This is also an attempt by us." ”

"It's a valuable attempt. Zheng Lang smiled, "Just like Mr. Fang said, solving problems is valuable, in fact, his speech on the stage is not only me, many friends feel very right." ”

Yu Hong nodded slightly, but she was thinking in her heart, and she came to the stage to speak? I didn't say this on the phone, what did I do in Lin'an?

Zheng Lang said this, and the words changed: "I came here this time because I have a strong willingness to cooperate with the registration network, but there is still a question that needs to be heard from your thoughts, value is value, and the realization of value is the realization of value, how do you think about this matter?"

The white soup of the hot pot began to bubble, and the lights of cars flashed outside the floor-to-ceiling windows.

It was early in the morning.

Yu Hong didn't speak, as if she was considering, Zhou Xin didn't speak, only felt that her chest was next to her back.

Zheng Lang's eyes were bright.

Fang Zhuo took a plate of fresh mushrooms and put them in the pot, and while watching the heat rise, he muttered: "Mr. Zheng, Sequoia is a well-known venture capital, you definitely won't ask us to make a profit in a short period of time, right?"

Zheng Lang said affirmatively: "That won't, but I also have to know the profit direction you are considering, the registration network can be convenient for many people is good, but the stable profit is not only its own support, but also conducive to the subsequent expansion and development." ”

"That's good. Fang Zhuo nodded, confident, at least on the surface, "The current stage of the registration network is to access and lay offline hospitals, especially key hospitals, Luzhou and Lin'an are not a problem, correspondingly, we have a rough plan for expanding to these two provinces, which is why we need venture capital funds, and expansion always requires money." ”

Yu Hong raised her hand and took a plate of potatoes, thinking, why isn't Lin'an a problem?

However, she saw that the vice president of Sequoia was just listening quietly and did not raise any objections.

"No, put the potatoes in the back, otherwise it will be easy to paste the bottom. Fang Zhuo still had the heart to stop it.

He continued: "Your funds will be used by us to lay the registration network to the key cities of the two provinces, and after that, we will initially consider the profitability of the registration network." ”

Not only Zheng Lang, but also Yu Hong and Zhou Xin's attention was also concentrated.

How does Registered Network make a profit?

In other words, how to make a profit for Internet companies is a troubling problem today.

Just like Ma Huateng, who came to Lin'an to attend the meeting this time, he wanted to turn to several listed companies to see if he could get new funds, but the latter did not make a profit even if he went public.

Tencent was established at the end of 98 years, and now this node is exactly 2 years, in the past two years, Tencent launched QICQ and changed its name to QQ, its number of registered users exceeded 10 million, and the number of people online at the same time was close to 1 million.

What a concept of traffic this is!

However, Ma Huateng still has to struggle with money and profits, and the increasingly high server fees have discouraged many institutions, including its current shareholder IDG, an internationally renowned venture capital institution.

Previously, Fang Zhuo and Ma Huateng joked and asked how much money they needed to invest, and the latter quoted a price of $2 million at that time.

In fact, Mr. Ma had already approached Sina's Wang Zhidong for $1.5 million, which he dismissed.

Isn't capital smart enough?

Not only smart, but also greedy.

However, the vast majority of smart people cannot be detached from the times, and can only painstakingly explore the way forward.

Compared with other Internet companies, there is a difference between Sohu, NetEase, and Tencent, which are purely online, but the registration network has a narrow offline application scenario.

"Our earnings will come from the regular advertising revenue on the Internet, which will not be open for the time being in the early stage for expansion. ”

Fang Zhuo turned a lot of thoughts in a short period of time, raised a finger, and gave an answer first.

Then, he continued to say calmly: "In addition, we will consider sharing with hospitals, and the promotion of this aspect requires the registration network to continue to consolidate its proportion in hospitals." ”

"When everyone gets more and more used to it, and the hospital is more and more accustomed to it, we will start the pilot from Luzhou first, well, it will be more convenient here in Luzhou. ”

As for what kind of convenience is on Luzhou's side, Fang Zhuo said more vaguely.

But Zheng Lang nodded.

"Luzhou will become a precedent, do a good job in one or two key cities of the charging model will continue to be fully promoted, the formulation of this registration fee, we will collect data to judge. ”

"However, the registration fee is certainly not expensive, and it is a way to make small profits but sell quickly. ”

Fang Zhuo paused: "You have to consider the policy issue, it will not allow expensive fees." ”

Is it policy that expensive registration fees will not be allowed or registration charges will not be allowed?

That's a problem.

Yu Hong and Zhou Xin couldn't help but glance at Fang Zhuo, who was frank and unashamed.

Zheng Lang digested it for a while and agreed: "It's clearer." ”

He also pointed out: "The charging pilot in Luzhou or Lin'an will be very critical." ”

"Yes, but we're still optimistic, and then again, because the problem is solved, so the user has a reason to pay, and they will recognize the value we bring. Fang Zhuo spread his hands, "Whether to pay a few more yuan or spend hundreds more yuan when registering, this is an easy choice." ”

Zheng Lang nodded as a matter of course and said: "Market economy, this is the advantage of the combination of the Internet and traditional fields." ”

If there is no intervention of the administrative force, the capital would not even want to make money from selling vegetables, let alone seeing a doctor, and he does not feel that there is a problem.

Fang Zhuo smiled.

Zheng Lang thought it again in his heart, and felt that there was no disobedience in general, as a senior vice president, he had a certain amount of investment within a certain amount, and the money that Registered Network needed at present would not be too much.

So, he came overnight and left soon.

There is a relationship here in Luzhou, the business has been rolled out, there is a business invitation for the next step in Lin'an, and the website will also have a clear and sound way to make profits in the future, and there is no problem with the project.

The soup on both sides of the hot pot is boiling.

"This lamb is good. ”

Zheng Lang sandwiched a piece of mutton, scalded it for a few seconds and chewed it in his mouth, he was indeed hungry.

"The direction of the company's profitability is very important, and your pilot must be communicated well in advance. The vice president chatted while eating, "You can't do it like some companies, you can't do it with your head bored, and as a result, you don't know anything about profits." ”

Yu Hong listened a lot, and felt as if she should speak out, she asked, "Is there still such a company?"

Zheng Lang smiled: "Of course there is, Mr. Fang will see you again this afternoon, as for the penguin chat software, it has been two years now, there are more and more servers, more and more users, but there are more and more losses." ”

He thought for a moment: "IDG is a shareholder of Penguin, with a 20% stake, and I have a friend over there, and he once went to the CEO of Penguin and asked what the profit plan was, and what do you think people would say?"

Zheng Lang directly revealed the answer: "That Mr. Ma said that he didn't know either, so he continued to do it." ”

The vice president laughed happily.

Fang Zhuo didn't speak.

Zhou Xin said: "Then there is no way, it is impossible to say that you will not do it halfway, you can only hold on." ”

"That's the reason, I can only hold on. Zheng Lang said casually, "IDG's investment has a superstition, just recognize people, at that time, the penguins were invested because they thought that the horse could always succeed, and now they just want to quickly throw away the shares." ”

Hearing this, Fang Zhuo was embarrassed to eat a whole plate of mutton, although this perception was a common idea at the moment.

Sequoia's senior vice president laughed and talked for a while while eating hot pot.

When he felt a little full, he said: "Mr. Yu, Mr. Fang, Mr. Zhou, I am optimistic about the development of your registration network, I came here today, I also want to meet the shareholders of the company, and now it seems that there is one less?"

Yu Hong immediately said: "That is my good friend, it's okay, I can call the shots." ”

Girlfriends, Fang Zhuo mentioned it, it seems that it is a proxy holding, Zheng Lang guessed, and said: "Then let's talk about the capital and proportion invested by Sequoia, what does Mr. Yu think?"

Yu Hong was blind, and she could only think superficially.

Fang Zhuo took the initiative to take over: "What kind of valuation is Sequoia willing to give? Our registration network has not been established for a long time, and it must not be calculated according to the present, after all, it is the future value that is invested. ”

"Naturally, naturally. Zheng Lang has a lot of experience in this area, and he asked, "According to what Mr. Fang just said, how much money do you need to lay the two provinces?"

1 million, 20%, Zhou Xin muttered in his heart, he talked excitedly with the boss about this when he arrived at the Lin'an Hotel on the first day, and knew the psychological price.

Fang Zhuo didn't answer immediately, he looked at Yu Hong as if he was asking, and said, "2.8 million." ”

Zheng Lang smiled, this young man, shout nonsense.

Zhou Xin's eyes widened, and the price increased?

Zheng Lang didn't refute, and asked again: "What about the transfer of shares?"

"20% of the shares. Fang Zhuo said calmly, "Sequoia belongs to the first venture capital we introduced, and this ratio is very reasonable. ”

Zheng Lang didn't need to calculate, and said directly: "This ratio is the valuation of 14 million, well......"

The three of them at the table held their breath at the same time, watching the senior vice president's thoughts.

"I can make decisions about this kind of investment, our procedures can be relatively fast, but the amount has to be modified. Zheng Lang said slowly, "I'm really optimistic about the registration network, Sequoia is not the kind of venture capital that squeezes entrepreneurs, otherwise, it would be a feud." ”

He said: "2 million, 20% of the shares, but to set up an option pool, industry practice, set aside 10%. ”

A smile had already appeared on Zhou Xin's face, and Yu Hong's brows were slightly raised.

Fang Zhuo endured his emotions and frowned: "20% of 2 million, huh...... There are expectations as we envisioned, but we can also see Mr. Zheng's sincerity, but the option pool has reduced the value of our shares in disguise. ”

Venture capital investment is often the capital increase and share expansion, and in a few cases, the transfer of old shares.

With a default 10% option pool, Fang Zhuo's 75% stake will be reduced to 67.5%, and on this basis, Sequoia's 2 million price will be held by 20%, which means that Fang Zhuo's 67.5% stake will be further reduced to 54%.

If there is no option pool, after Sequoia becomes a shareholder, Fang Zhuo's shareholding ratio will be reduced to 60%.

In other words, the establishment of the option pool means that there is a difference of 600,000 yuan in the valuation of the shares in the hands of Fang Zhuo, the major shareholder, that is, the difference of 60 million yuan.

Zheng Lang thought that he would wait for the other party to ask what the "option pool" was, but he didn't expect to receive such a sentence, and it seems that he has done his homework.

He persuaded: "To become bigger and stronger, you always have to introduce talents, option rewards are too important, the early division of shares is clear, and the follow-up investment is actually very beneficial." ”

Zheng Lang continued: "A reasonable shareholding structure is definitely an important condition for the healthy development of the company, I have seen many, many companies break up because of this kind of thing. ”

Yu Hong quietly clenched her hands, and Zhou Xin finally couldn't help but take a deep breath.

Fang Zhuo was silent.

Zheng Lang thought for a while, and said: "Our Sequoia investment is actually more accustomed to US dollar calculations, this money is enough for the development of the two provinces, if we come again next time, I believe that Fang will always calculate the US dollar exchange rate and the valuation of the company with me, at that time I thought about the road to listing." ”

2 million yuan is 240,000 US dollars.

Compared with Sequoia's investment of millions of dollars, it is indeed a small amount, and it is also a small case that Zheng Lang can call the shots overnight, and he uses the future cooperation to persuade this president Fang, who obviously has a different status.

Fang Zhuo sighed.

The next second, he showed a bright smile and said to Yu Hong: "Sister Yu, Zheng is always a cheerful person, I think there will be more in-depth cooperation between the two sides in the future." ”

Yu Hong understood, stood up, stretched out his hand and said:

"Mr. Zheng, happy cooperation. ”