The entertainment industry shouldn't be like this

Chapter 227 Did He Really Want to Steal Money?
In mid-May, the last sum of money Wang Wei personally invested in e-commerce Amazon finally arrived.

With a total investment of [-] million yuan, Zhao Yichuan, the founder of Amazon, can let go and develop his own ideas and develop his own territory to his heart's content.

Of course, this also means that the valuation of his shares has soared, and a billionaire has just been released.

——Even in the era when the Internet is creating wealth, millionaires and multi-millionaires may be uncommon, but billionaires are still an existence that most entrepreneurs look up to.

But Zhao Yichuan didn't have much pride, because the young man in front of him was about to make a bigger financing round and create wealth that even billionaires would be amazed by.

Some people may be wondering, Wang Wei personally has money to invest in other Internet companies, why does his own company need external financing instead?
Not to mention the question of whether his personal funds are enough to burn - the number of Penguin communication users has exceeded 1.5 million, and personnel, venues, and servers have to expand accordingly. In front of this crazy-growing "penguin", the demand for funds can be called a bottomless pit.

What's more, if Wang Wei personally reinvests, the shares will be highly concentrated in his hands, which may not be a good thing for an Internet company.

The most important thing is that Weibo Technology has also reached the stage of needing the help of venture capital.

——The "assistance" here is more about the assistance of talents.

Wang Wei saw a formula in his previous life: Sustained success of an enterprise = strategy × organizational capability.

If you find the right outlet, pigs can also fly; but whether it can last for a long time depends on organizational skills.

Previously, Weibo Technology was relatively small, with only one core product, and simple personnel management was relatively easy. Through internal selection, a management team with considerable combat effectiveness was formed.

But all the way to today, Wang Wei has an alarm bell beeping in his heart: the management of Weibo Technology has reached the point where it has to reorganize——

The engineer management team led by the co-founder Jiang Lei has the advantages of strong technical ability, rapid product development ability, and the spirit of persevering to the end when encountering difficulties.

But as there are more and more aspects to be taken into account, they blindly pursue perfection, and they are insufficient in quick trial and error and quick error correction; The more BoTech expands, the easier it is for organizational management to get out of control.

Wang Wei must first find an excellent professional manager to be the CEO.

And looking for professional managers, especially those who are familiar with the Internet, is a VC's forte.

In fact, influential old-fashioned venture capital firms are holding a handful of CEO candidates. These people may be the founders and executives of companies that venture capital has invested in before. One of the reasons is that the former reserves a lot of talents who can manage the company on their own behalf.

In addition, Weibo Technology will carry out industry mergers and acquisitions in the future. If it is only on its own, it may not be able to figure out the right way. At this time, venture capital with extensive "connections" can help match the companies it invests in.

In short, venture capital is used well and will be an excellent partner for entrepreneurs.

Zhao Yichuan naturally understands all the inside, and he couldn't help saying enviously: "I don't know when Amazon's old-fashioned venture capital will come to you..."

Wang Wei signed the transfer agreement, stood up with a smile, and stretched out his right hand to him: "I believe this day is not far away."

Holding both hands together, Zhao Yichuan nodded heavily: "I also believe in this, let's encourage each other."

……

The news that Weibo Technology launched the second round of financing has stirred up the entire venture capital circle.

For most venture capitalists, it is difficult to figure out which entrepreneurs are worth investing in during the development boom of Internet companies; there are countless new concepts and technologies displayed in front of them every day, and it is difficult to judge which ones will be successful. Becoming popular is no easy task.

Wang Wei's Weibo technology is a breath of fresh air.

This company, which is developing at a rocket-like speed, with a user base of tens of millions or even hundreds of millions every year, as long as it continues to develop at this speed, it will inevitably become one of the most influential Internet companies in China...

But it is such a start-up company, relying on the founder's self-raised funds to meet the development needs, and has no interest in external investment, making it difficult for investors to start.

From this perspective, Wang Wei, the "miracle creator" who made a group of venture capitalists have greater confidence in Weibo technology, has become a stumbling block instead.

The same is true this time.

In an office in a building just across the street from the Weibo Technology headquarters, several men with different looks were standing or sitting, and the air was full of the smell of a storm.

They are all well-known existences in the rankings of Internet venture capital figures in China. Many of them have successfully founded technology companies, and now they are all partners of Pengcheng Venture Capital Fund.

Pengcheng Venture Capital is one of the top three venture capital funds in China. If you hadn't seen it with your own eyes, it would be hard to believe that these venture capitalists who usually travel all over the world would gather in this room in unison. In the movie, the bigwigs are doing inhumane activities.

But if you look carefully, you will find that these people's eyes will look out of the floor-to-ceiling windows from time to time, looking at a very inconspicuous building opposite, where Weibo Technology is located.

A partner who was in contact with Wang Wei first, supported a round table in the middle with both hands, Weng said: "This is a very tricky business. The news released by Wang Wei is that Weibo Technology has carried out an internal valuation. And the initial valuation will not be less than 100 billion yuan!"

As soon as these words came out, some people stared wide-eyed, some cigars in their mouths almost fell to the ground, and some people smiled disdainfully——

"A valuation of tens of billions!? It means that we need to spend at least one billion to obtain [-]% of the shares? Is he really trying to steal money?"

"To be honest, I have participated in too many investment plans of heavyweight companies, even more remarkable and promising than Weibo Technology, I can't count my toes. How dare a company that has been established for less than three years dare to With a valuation of 100 billion, I think the first lesson they should learn is humility."

"The hairy boy is not trustworthy!"

At this time, a venture capitalist standing in front of the floor-to-ceiling windows and looking out turned around, feeling the need to wake everyone up, and said in a deep voice——

"The brat in your mouth, founded a company that may become the overlord of the Internet, so many of us gathered here just to knock on his door; and he also planned an Internet storm a while ago, Successfully linked the Internet and the entertainment industry, and made the traditional five major media groups feel a greater threat..."

"Oh, by the way, we also rejected Tang Yu Media's Luo Dong as a partner of our fund because of the scruples of this 'hair boy'. Who would dare to underestimate him?"

The partner who was refuted by him was silent for a while, but still couldn't help shaking his head: "But, buddy, his valuation is too high!"

"Besides, the Internet industry is not the entertainment industry. It is a thousand times more realistic and ten thousand times crueler than the entertainment industry. Existing stars in the entertainment industry can rely on a few songs and movies in the past to earn some living expenses. Even if an angry website humbly provides free services, it will be difficult to get attention, because many people have already forgotten his registered account number.”

"Seeing him building a tall building, seeing him entertain guests, seeing his building collapse. Even if he had more than [-] million users yesterday, and a more popular new product appears today, users will leave him in an instant, and the company's valuation will follow. It plummeted."

"We really want to make such a big deal all at once?"

Although their Pengcheng Venture Capital Fund raises more than one billion yuan in one round, so each investment will not be too small - if it is too small, firstly, there will not be so many companies to invest in, and secondly, there will not be so many people. And energy to review tens of thousands of companies.

However, an investment of one billion or more is really too exaggerated!

"We must take the shares of Weibo Technology! I don't want to miss an Internet myth, even if there is only a slight possibility!"

Sitting on the leather sofa, the founder of Pengcheng Venture Capital Fund, who had been silent all this time, slowly stood up, made a final decision, and then turned to the partners who had been in contact with Wang Wei,

"Was Wang Wei's attitude at that time eager or indifferent?"

The partner thought about it for a while, and said, "Neither, he is more like... calm and relaxed."

The founder was taken aback for a moment, and then showed a faint smile: "Then there is no need to argue, just wait."

"Wait for what?"

"Wait for him to give us an answer to grab money based on strength!"

……

(End of this chapter)