What's wrong with me being a rich man?

Chapter 230 Adjustment
From February 20th to the end of the first week of March 7th, which was also the half month after the end of the Spring Festival statutory holiday, WeChat company changed very quickly.

Whether it was Ge Zhijie or Tan Ruize, they were all surprised at Yu Xing's efficiency after the technical direction was established. Therefore, they decided to develop the software first to see what it could be like.

Even if they are technical people, they can easily see the harsh environment of potential competition.

On March 8, Yu Xing convened a general meeting on the fourth floor of the WeChat company after considering that the mood was most likely common.

Previously on the fifth floor, WeChat had only more than 20 people, but now there are 78 people. Yu Xing used to be somewhat familiar with the faces, but this time he couldn't tell who was who at all. However, this did not prevent him from explaining the subversive significance of the mobile era.

This statement is a derivative of the speech made at the Lin'an Conference last December, only with the addition of the rapid development of smartphones.

iOS is amazing, Android is vibrant, and Symbian still has room to grow. Mobile phones from major manufacturers have changed from simply competing on functions to competing on systems, hardware, and application resources, and this has resulted in a rapid increase in smartphone shipments.

According to current market conditions, a consulting firm estimates that the number of smartphones in China will grow to at least 2010 million units in 3500, while product prices will further drop, forming a virtuous circle.

According to this estimate, Android phone sales are expected to increase to 600 million units per year.

Yu Xing emphasized the shipment volume of smartphones, one of the main reasons being the new approach of using built-in software. However, as he spoke and observed, he soon noticed that the employees of WeChat were not very interested in what he said.

So, the speech quickly got to the point.

"I have had careful discussions with shareholders and will sign a company option contract in the next week. The company will allocate 5% of its shares to shareholders based on the estimated employee size this year."

"Everyone who comes here naturally knows about the investment of Bai Xiaosheng Company, but some people may not know that we have completed the angel round of financing from Red Falcon Capital. The company's overall valuation as of today is 1000 million US dollars."

"In addition to Red Falcon Capital, Tan Ruize and I also received Liu Jiankai, vice president of Today Capital, two days ago. He is an old friend of mine and has been strongly supporting the development of Bai Xiaosheng."

“It’s not just Capital Today that is concerned about the launch of our company. In fact, even before WeChat was founded, I had already had extensive discussions with Capital Today, IDG, and Qiming Venture Partners. How much this 5% stake will ultimately be worth depends entirely on the efforts of everyone here.”

“I can only say that I think we have great opportunities with the disruptive development of mobile Internet!”

This 5% equity comes from Yu Xing's holdings. Based on the valuation of 1000 million US dollars, it is currently worth 340 million Chinese yuan. If it is divided equally among the employees expected this year, each person will receive about yuan, which is equivalent to a good year-end bonus.

But the thing about options is that they are very imaginative.

Red Falcon Capital is not well-known, let’s not talk about its investment for now. However, Today Capital is different. In particular, everyone could see Liu Jiankai coming to the company for inspection, and at the same time, everyone could see President Yu chatting and laughing with him.

As for IDG and Qiming Venture Partners mentioned later, they add to the beauty of the pie.

Yu Xing’s “There is a good chance” received warm applause. Regardless of whether it will work or not, it is better for the boss to have confidence than to have no confidence at all.

Deputy Technical Director Tan Ruize cares more about the company's development than Director Ge Zhijie, so he has to see his boss off every few steps.

He also took the opportunity to confirm the financing: "Mr. Yu, Mr. Yu, is there really hope that Capital Today will invest in us this year?"

"As for Capital Today, I'm not sure. He came that day and you know his attitude." Yu Xing was very frank in his private communication with one of the executives who was a technical leader. His public speech about "extensive exchanges with the three major institutions" was indeed extensive, but there was no investment consensus.

The expression on Tan Ruize's face froze.

Yu Xing patted the deputy director on the shoulder and gave good news: "But don't worry, Hongshun will definitely invest. Even if no other companies contribute money, it has reserved $500 million for our Series A financing."

Tan Ruize was cheered up, but couldn't help but wonder, "Really?"

This statement is too confident. After all, the company has only been established for less than a month. How could it have the qualifications to allow a venture capital firm to make such a bet?
Yu Xing nodded and said, "That's absolutely true, so don't worry. Besides, the 5% option will be increased as appropriate this year."

Tan Ruize was quite happy and diligently helped his boss press the elevator button.

He silently calculated in the corridor. If only Red Falcon invested $500 million in the A round, assuming it accounted for 20%, the company's valuation could be increased to $2500 million, and the original 5% option value could be increased from $50 to $100 million.

Needless to say, Mr. Yu also mentioned that the option share is expected to increase.

Although options that cannot be cashed are worthless pieces of paper, but...

Tan Ruize thought about it and decided that if the company could achieve good results, even if it couldn't compete with Penguin, it would be good to be able to sell it to Penguin in the end, and it wouldn't necessarily be a waste of paper.

When he thought about it this way and then worked backwards, he began to doubt the existence of Red Falcon Capital.

Then, within two days, after Tan Ruize's intentional or unintentional inquiries, he found out that the boss of Red Falcon Capital and Yu Xing were in a romantic relationship, and even his car was a gift from the woman.

Hmm...why did Mr. Yu's image suddenly become blurred? ?

However, Tan Ruize felt inexplicably more relieved.

In the second week of March, Yu Xing was preoccupied with the development of WeChat. He tried every possible way to use the limited resources to try to solve the problem, which even caused problems in his work at Bai Xiaosheng.

At the regular recruitment business meeting on Wednesday, Yu Xing's mind suddenly went blank, and when it was his turn to speak, he talked about the wrong topic.

"WeChat has great potential, and I am very confident in it. However, this year's research and development expectations still need to be clearly planned."

After Yu Xing said this, he suddenly realized that he was not sitting in the conference room on the 4th floor, but in Bai Xiaosheng on the 6th floor.

He looked at his colleagues' surprised eyes and tried to smooth things over without changing his expression: "This kind of planning must be implemented on the basis of domestic mobile development. This is an understanding I mentioned at the meeting downstairs yesterday. I think it's okay to put it on our Bai Xiaosheng."

"Bai Xiaosheng must actively embrace the development of mobile technology and be the first to complete the development of running and turning before Zhaopin, Yingcai and Qiancheng."

"I think after we complete our development in second- and third-tier cities this year, we will be able to enter the first-tier cities next year with a mobile focus."

“I hope everyone will appreciate the disruption of mobile and the incredible opportunities it brings.”

Liu Hao, the vice president in charge of overall recruitment, said cheerfully, "Yes, Mr. Yu's words are thought-provoking. I am ashamed to say that I only saw Mr. Yu's remarks on mobile development at a meeting at Alibaba last year last week. Those remarks were really well made. After the Chinese New Year, I specifically observed the movements of passengers on the subway and bus."

"It's really amazing that almost everyone is using their mobile phones."

"This thing is much more convenient than a laptop. It can definitely bring this...this..." Liu Hao couldn't find a particularly suitable description for a while.

Yu Xing added: “Penetration rate.”

Liu Hao nodded immediately: "Yes, yes, penetration rate, this is real penetration, not fake penetration. You can see it when you have nothing to do. We are now sinking into second- and third-tier cities, which is also a kind of penetration. According to what Mr. Yu said, this new era of penetration is a new opportunity for us to change the pattern of recruitment in this mature market!"

The key recruiters in the conference room were stunned.

Everyone knows that the company has launched a new incubation project. President Yu attaches great importance to it and has shown more attention to it than the "price comparison website" and evaluation business. It is said that he has also independently obtained a lot of money from outside. So, when I heard it just now, I felt that he was distracted.

However, now that Mr. Yu and Mr. Liu are singing the same tune, their words are quite inspiring, and I have to reflect on my initial speculation...

The meeting ended successfully.

Liu Hao finally left the meeting room, but couldn't help but chat with Mr. Yu for a few words, and said tactfully: "Mr. Yu, our business this year is also very critical. The company's mid-year financing should be coming soon."

"Yes, yes. We should be discussing the C round in May. There won't be any problem. Mr. Liu will have to take more trouble in recruiting." Yu Xing reflected on himself, "I've been focusing on promoting the incubation of new projects recently. I still need to find someone to share the pressure there."

Liu Hao was about to leave, but when he heard his boss's unintentional words, an idea suddenly occurred to him. He smiled and said, "However, I have a general understanding of our new incubation. Although I don't understand it very well, I feel that it has great potential. If it can be successful, it may be better than Bai Xiaosheng."

"If there is a real shortage of people, Lei Weiming is actually a good choice. He has been working in sales positions for a long time and was also mentioned in management positions when he was at Zhaopin. He is good at everything."

Yu Xing thought about it for a moment, then said with a smile: "Lei Weiming is a general under your command, are you willing to let him go?"

"It's all training. Mr. Yu will definitely pay attention to it." Liu Hao said seriously, "I'm sure I'll be reluctant to let him go, but this is our internal incubation project, so it depends on his own wishes."

Yu Xing nodded slightly: "Then let's go back and take a look at the situation."

The situation is...

The old boss who seemed to be leaving didn't leave, and the deputy who was supposed to take over has been feeling a little subtlely awkward lately.

What's more, there is Zhong Zhiling who has the support of Liu Hao and Yu Xing, and has more experience in Bai Xiaosheng.

Lei Weiming is Bai Xiaosheng who arrived before Liu Hao, and is also his old boss who came to Beijing for lobbying. Logically, the two sides should cooperate closely, but the way they get along now is a little bit strange.

"How could there be such a gap between the two of them?" Yu Xing went to Zhong Zhiling to find out, and he was also surprised.

"It's not a rift, it's not that serious, it's just... after the second trial, Mr. Liu was determined to stay. Mr. Lei is indeed Mr. Liu's subordinate, but he has his own team and it's not his time to be in Zhaopin." Zhong Zhiling described the situation as clearly as possible, "Everyone still wants to make the recruitment business a success. This, I can only say, workplace relationships are not so perfect."

Yu Xing nodded, sipped his tea, and considered the situation.

The WeChat company does not just do development. After the software comes out, a series of work needs to be done. If you can use the company's experienced people, it will definitely be more reassuring.

As he thought about this, he asked, "Zhi Ling, do you want to go to the fourth floor?"

Zhong Zhiling was still thinking about the changes that Lei Weiming might bring about when he left. When he heard this question, he paused for two seconds and said hesitantly, "Is it better for me to do the recruitment business now? This will also make it easier to check and balance Mr. Liu a little bit."

Liu Hao had already planned to leave, so he told Yu Xing everything he knew and directly asked him to interfere with the recruitment team. Zhong Zhiling was there to act as a check and balance, but now... he continued to interfere, and his target was now himself.

Yu Xing knew it, Zhong Zhiling knew it, and Liu Hao knew it too.

To do this job well, I have to be extremely honest.

"That's the truth." Yu Xing pondered, "WeChat company... does have potential. We graduated from school together, so of course I want to see you have better opportunities."

This better opportunity means that it might become a stepping stone.

Hearing this, Zhong Zhiling smiled and said, "How can it be better? After all, it is incubated by our own company. Besides, I also invested money through Sister Ying."

"Okay, then you should pay more attention to the recruitment market." Yu Xing didn't say much after hearing this. It was true that jumping to a big company might not be as good as following him.

He planned to find time to talk to Lei Weiming again to see what he really wanted.

Although the development of WeChat has just started, this can be regarded as an advance effort to build up manpower for its subsequent market operations.

Bai Xiaosheng currently needs to secure its Series C financing, and WeChat is a little confused.

Within two days, Li Shanyou, CEO of Ku6.com, who had previously spoken to Yu Xing to say hello, used his own certified account to post a handwritten letter of resignation on Baixiaosheng - Goodbye, Ku6 will be better.

Ku6.com is the first video sharing website in China and also the first private video website to obtain a radio and television video license. Li Shanyou was previously the senior vice president of Sohu.com, and his earlier experience at Motorola and Alcoa Group is also very impressive.

His sudden resignation caught the public off guard.

However, this way of announcing the resignation publicly in Bai Xiaosheng is still somewhat novel.

Unfortunately, this novelty did not have the particularly good effect he had hoped.

Just one week later, Ku6.com, which had replaced its CEO, was suddenly exposed to a "violent dismissal" incident. Many laid-off employees were dissatisfied with the company's dismissal decision and compensation plan, and had physical conflicts with the human resources department.

At the same time, two senior executives publicly announced that they would not accept the board's decision to lay off employees and were unwilling to lay off the majority of employees in the team. Subsequently, they were dismissed by the board of directors.

Ideals are beautiful, but reality is cruel. The CEO's handwritten farewell did not bring about good things, but instead plunged the company into a mess.

Someone in the forum asked Yu Xing, who was also watching the incident, what the root cause of the matter was.

Yu Xing gave his own guess: "It's probably nothing. Although Mr. Li is the CEO after the listing, the CEO is a senior employee. He has different ideas from the board of directors. He may even have to fight for the personnel rights. So he just leaves."

(End of this chapter)