The entertainment industry shouldn't be like this

Chapter 264 One of the Richest Young People
I really dare not procrastinate!

Competing for the second round of financing of Weibo Technology was not the longest negotiation for Pengcheng Venture Capital, but it was definitely the most tiring one!
There are many reasons for this.

Dai Peng, the founder of venture capital, did not expect that Wang Wei would have such trust in the CEO candidate he recommended——

After passing the test, Wang Guangqian officially joined Weibo Technology as CEO.

Secondly, what I didn't expect was that Wang Guangqian did not live up to Wang Wei's trust at all——

After he took charge of Weibo Technology, he naturally took over the specific negotiation work for the second round of financing. However, not only did he not "release water" because of Dai Peng's introduction, but after learning about some key projects of Weibo Technology, he decisively raised the valuation. value;
If it is normal, Dai Peng will only appreciate his choice - after all, after joining Weibo Technology, Wang Guangqian's interests are tied to Weibo Technology; Let him flex his muscles.

But now, as the person who wants to pay, Dai Peng just wants to kill him!

——A higher valuation not only means that they have to spend more funds to get the ideal share of equity; it also means that he has to spend more thought to convince investors.

What?Can he ignore the "price increase" of Weibo Technology?
indeed!

But other venture capitalists estimated that they would be happy to die, and then rushed to fill their positions without hesitation.

This is where Weibo Technology is most different from other Internet companies that need financing—they don't talk about martial arts too much!
These days, how do Internet companies want to raise funds—find a model, endorse the status quo, tell stories to capital, and try to tell the story as full and mellow as possible; as long as his logic and story capital can understand , An Internet start-up can earn hundreds of millions by telling stories.

What about Weibo technology?People don't tell stories, but as long as you are not convinced, he will dump the project!

That's right, it's such a weird thing - dump the project!

For example, after the start of the financing war, Weibo Technology first launched the "Penguin Membership" system. Through the monetization of virtual goods, it found a path for self-hematopoietic growth. This model even changed the direction of a small part of the Internet industry.

——That’s the way to go. At this time, Weibo Technology’s valuation of tens of billions is considered reasonable by almost the entire industry.

However, this did not meet the psychological expectations of Wang Guangqian, or Wang Wei behind him.

If we can't reach it, we will naturally continue to talk!
If it is another Internet start-up company, no matter how optimistic the venture capitalists are, there is no need to worry.

——Talking slowly for two or three months, Internet companies are almost out of ammunition and food. As long as they don't want to starve to death, they can only accept the price of the venture capitalist.

Weibo technology can afford it.

Not only can it be delayed, but people have also proved with actions: If you don’t invest, the future valuation may be even scarier!
——This is naturally the release of the game "Resident Evil"!
Until this moment, Weibo Technology has really launched the future game map.

People in the film and television industry may only see that releasing movies at the time of game release can help increase the popularity of movies; but people in the Internet industry can also see that Weibo Technology has undoubtedly found a new profit growth point.

Of course, it’s still hard to say what its prospects are – the movie-game linkage is indeed a beautiful story, but it’s really hard to say whether the Dunhuang-Weibo Technology Consortium can replicate this effect;

The problem is that other Internet companies that purely tell stories can get high valuations. Weibo Technology has at least achieved practical results. Isn’t it worth it?
Just kidding, Weibo Technology’s current financing difficulty is not zero, it’s almost a negative number—also known as “I can’t get in the queue even if I’m in a hurry to send money”...

When will it be available?That's what investors in the industry are most concerned about -- they can't wait to get a piece of it.

But unfortunately, the newly appointed executive officer Wang Guangqian said, "We are in the stage of rapid expansion. If we go public, some expansion strategies may not satisfy shareholders, which will cause us to be distracted. Therefore, we will not go public in the short term. plan."

Having said that, Pengcheng Venture Capital can't hold back anymore - they suspect that if an investment agreement is not reached, Weibo Technology may go public amid the industry's desire.

Therefore, when the time came to mid-October, Pengcheng Venture Capital, which had been withdrawing again and again, formally reached an agreement with Weibo Technology to obtain an approximately 18% stake in Weibo Technology with an investment of 11.3 billion yuan.

All the details and clauses have passed the review of both parties, and now the dust is settled just waiting for Wang Wei's signature.

And although the funds invested greatly exceeded expectations, when the dust settled, Dai Peng was more excited!
Because he knows that this fund will be exchanged for a greater return.

This made him shake Wang Wei's hand with a relaxed smile after he finished signing, "I thought I would miss out with the future Internet overlord. Fortunately, I still didn't miss it!"

"So, I can see this as investors' expectations of us?" Wang Wei also smiled quite easily.

Dai Peng shook his head, "You don't need anyone's expectations for your future! If you really want to talk about expectations, I would like to ask, is there any intention of Dunhuang to raise funds?"

"Under the siege of the five big ones, Dunhuang never thought of absorbing the strength of the major investment funds and using the connections they represent to expand?"

And Wang Wei raised his eyebrows, "Pengcheng Fund is still interested in traditional industries?"

"If it's Dunhuang, of course we're interested." Dai Peng smiled and continued, "But I'm asking for some investors who have spare money."

"They are very rich!" Dai Peng emphasized with a blink of an eye, "So you can actually consider selling some shares of Dunhuang to them. These rich people will definitely give you a fair price."

"Maybe. But Dunhuang is not short of money for the time being." Wang Wei replied in an unquestionable tone.

"Well, then I can only say I'm sorry to them." Dai Peng was not persistent either.

In the final analysis, corporate financing is nothing more than two reasons. The first is lack of money, and the second is lack of strength. There are also two purposes. One is to try to continue the operation, and the other is of course to expand production—no matter how fancy the rhetoric is, This is one of the fundamental motivations for corporate financing.

For example, Weibo Technology accepted the investment from Pengcheng Fund this time because it needed their money as well as their "momentum" - the "momentum" to attract talents and acquire other Internet companies.

But Dunhuang is different.

The media industry is a very mature market in the Red Sea, and spending money can never break the situation; in the current situation where the upstream and downstream are almost integrated and controlled by the five giants, external financing cannot bring much breakthrough to Dunhuang.

——This is probably one of the reasons why Wang Wei needs to put more energy on Dunhuang!
Dai Peng thought so.

……

The most popular financing drama in the Internet industry this year has finally come to an end!

Pengcheng Fund spent 18 billion to acquire less than 12% of the equity of Weibo Technology, making the company's valuation reach 160 billion yuan!
This provided a huge amount of funds for the Weibo Technology ship to open up a larger distant sea territory and conquer cities and territories overseas; at the same time, it also created a new myth of wealth creation.

It's unclear how much Wang Wei is worth, but he's certainly one of the richest 23-year-olds on Earth, and he's self-created rather than inherited.

The mainstream media across the country rushed to report on this young man who is very likely to influence the global economy and structure like those well-known figures.

More media reporters are gearing up to interview this new generation who is bound to be on the wealth list.

then……

He was told by Dunhuang that he refused all interviews because he wanted to make a new film.

As soon as the news came out, almost all the reporters were thinking about a question - if I was so rich, I would still make woolen movies!
……

(End of this chapter)