My Age of Investment

  Chapter 508 The conscience of the venture capital industry (seeking a monthly pass)

  A few days later.

  Beijing, 36th floor of China Merchants Building.

  In the conference room, Zhou Hongyi’s chest was banging loudly.

  "Don’t listen to the rumors on the market. I guarantee that Mr. Xia and Envision Capital are definitely the conscience of the venture capital industry with my many years of character."

   Immediately, Zhou Hongyi snorted coldly, looking filled with righteous indignation.

  "Don’t look at those people who are full of benevolence, justice and morality. Opening your mouth and shutting up your mouth is to achieve each other with entrepreneurs and help entrepreneurs realize their dreams. In fact, they eat people and they really don’t spit their bones.

  Take Qihoo as an example. They forced me to sign a gambling agreement, so I turned the table up at that time.

   President Xia, believe in me Lao Zhou, do not require me to sign a betting agreement, I Lao Zhou will do my best to reward shareholders who are so optimistic and trust me, this is a truly trustworthy partner and a real mutual achievement.

  A gambling agreement, what is it, then it’s not called equity investment, it’s called a loan.

  Starting a business is not up to the expected goal, and you are asked to repay the debt; when the goal is reached, it will come to share the cake, saying that they are equity investment. Isn't this hooligan? Capital hooligan! "

  Two round-faced young men in their thirties stared at the spitting Zhou Hongyi intently, listening to their angel investor, the famous rogue software developer, complaining about the capital hooligan.

   is so magical, for the benefit, gangsters can also spray each other.

  Xia Jingxing watched this scene from the sidelines, smiling silently, thinking carefully in her heart.

  The fierce remarks made by Zhang Fan at the Zero2IPO Annual Meeting were reprinted by many media, and many entrepreneurs and investors also heard it.

  After a few days of dissemination and fermentation, basically everyone in the investment circle knows, and the entrepreneurial circle should have almost spread.

  The two people who are listening to Zhou Hongyi’s complaints, the one wearing glasses is Zhou Zhaolong, the founder of Thunder, and the one without glasses is Xie Zhenyu, the founder of Kugou.

  Many days ago, Zhou Hongyi notified the two of them that Envision Capital was interested in investing in the two companies.

  Both of them had agreed well on the phone, and said that they would come to Beijing after finishing their work.

  As a result, there is no more audio later.

   Zhou Hongyi specifically called and asked, only to realize that the two had concerns.

  Somehow, Zhou Hongyi persuaded the two to come to the capital.

  At this time, Zhou Hongyi made a long talk. On the one hand, it was to dispel the two people's doubts, and on the other hand, it was sold to Xia Jingxing, and wanted him not to mind.

  If the two companies want to talk too much, it is not necessarily true at present. As an angel investor, Zhou Hongyi naturally hopes to introduce more powerful capital to the two companies.

  Vision Capital, in Zhou Hongyi's mind, has a very good impression, belonging to the very powerful category.

  Furthermore, Zhou Hongyi himself knew that Vision Capital was not the so-called "predator fund" at all. It was pure slander, and Sequoia and the others were.

   "This is the situation. The capital market often kills people without seeing blood."

   Zhou Hongyi smiled and looked at the two, "In short, choose Vision Capital, you two will not suffer."

   Then he looked at Xia Jingxing, "Am I right, President Xia?"

  Xia Jingxing chuckled, "When Qihoo was negotiating with us, Lao Zhou had also contacted Sequoia and Dinghui.

  But why did Lao Zhou reject them and choose us? You two can think about the reasons.

  Lao Zhou is a very smart person. Will he make the wrong choice? "

  Xie Zhenyu thinks about it carefully, his angel investor Zhou Hongyi is a chicken thief, it is indeed impossible to make a loss-making business.

   So he smiled and said: "I know now, I misunderstood Xia Zong and Vision Capital for this before. I'm really sorry, I apologize to you."

  Zhou Zhaolong also nodded, "Yes, there are too many false news, and it is not shallow."

  Xia Jingxing waved his hand, "It's okay, there is a misunderstanding, just make it clear."

  Seeing this scene, Zhou Hongyi finally showed a satisfied smile.

   "Then President Xia, let's talk about business directly."

   Zhou Hongyi didn't want to drag it anymore, and he was rather impatient.

  Xia Jingxing said "OK" and called in Fu Jixun, who was working outside.

After    and others arrived, Xie Zhenyu began to introduce her entrepreneurial history and Kugou company.

"I started my business in 2000. After graduating from the Department of Computer Science at Sun Yat-sen University, I have been doing technology development at China Merchants Bank. Out of the earliest prototype of Kugou-Souguan..."

  Xia Jingxing heard the corner of his mouth twitched, this name was obtained, talented!

  However, Sou.com is doing music resource search, playback, downloading, and sharing, so it also matches the name.

  He listened to Xie Zhenyu’s account that because of its early establishment, Sou.com soon became the top ten website in China’s traffic rankings and gained a large number of users.

  Then, the tree attracted the wind, and was targeted by the giants!

  Xie Zhenyu smiled bitterly, “I don’t know if it’s because the traffic is too eye-catching. Baidu also took a fancy to the cake of the music market, so he came to me to talk about mergers and acquisitions.

  Because the bid was too low, I rejected them directly, so Baidu created an MP3 channel, which drove a lot of our traffic. "

  Xia Jingxing nodded, “So you started to transform into the client and downstream market of music search in 2003, and launched a comprehensive music service platform-Kugou that integrates searching, playing, and managing your own local songs.”

  Xie Zhenyu admitted, “Yes, after all, Baidu is a big company with a traffic gold mine. We can’t beat them, so we can only think of other ways.

  Of course, Kugou did not let us down either.

It took only half a year for    to go online, and it achieved a good result of 100,000 users online at the same time.

  Since then, the number of Kugou users has grown faster and faster. Up to now, the number of registered users of Kugou has exceeded 10 million. "

  Xia Jingxing smiled, 10 million users sounded very bluff, but in fact they simply couldn’t afford the valuation.

  No one, no money.

  "What are your current profit methods?"

  As if knowing that investors would ask, Xie Zhenyu was prepared and quickly replied: “At present, in addition to advertising, the main profit method is to provide users with CRBT download services when they are auditioned.”

  Xia Jingxing suddenly realized that he didn't pay much attention to it. Everyone likes to give the mobile phone a ring tones these days. When someone dials the phone owner and hasn't connected, he can hear all kinds of sweet music, which is a powerful tool for acting.

  "In addition to Baidu MP3, Penguin also launched QQ Music at the beginning of the year. Oh, there is a Qianqianjingting that was launched at the same time as you, and there are also a lot of music audition sites such as Nice and Yiting.

  In the face of so many competitors, what is the moat of Kugou? "

Xie Zhenyu thought for a while and replied: "Technology and innovation! For example, we have a lyrics karaoke player. Compared with similar products "Synchronize lyrics sentence by sentence", our cool dog's synchronous playback achieves "Verbatim playback". It's comparable to Karaoke."

   After all, Xie Zhenyu also asked Xia Jingxing to find an employee to send a laptop computer, and compared Kugou with other competing products on the spot.

  Xia Jingxing took a closer look. In fact, it's not that great, but if these subtle points are done, the user experience will be up immediately.

   Zhou Hongyi came out to help, "Zhenyu's technical strength is very strong, Mr. Xia, let me tell you a story.

  In the cold winter of the Internet in 2001, Sou.com became very tight on funding because it was unable to raise funds and could not afford servers.

  In order to support more users online without increasing server costs, the backend of Search.com has been optimized five or six times after shaking rain. With just one server, it has completed the feat of supporting millions of user visits worldwide every day. "

  After listening to Xia Jingxing, he was in awe. He was a technical background and knew that it was very difficult.

  At the beginning of the new century, there are still many successful examples of this kind of technology geek entrepreneurship.

  Because the Internet was still in its infancy at that time, one person or several people started a small website and started doing it little by little.

  After more than ten years, the various segments of the Internet are crowded with people. It is difficult to start a single-handed business, and it has become almost impossible.

  After listening to these, Xia Jingxing has a very clear understanding of Kugou's situation.

  At present, in addition to the newly launched Kuwo, there are also three rivals, Baidu, QQ, and Qianqianjingting.

  Qianqian Jingting is already in contact with Baidu to discuss mergers and acquisitions. Xia Jingxing does not intend to intervene.

  Kowo Music, which just went live this month, he has arranged for Tong Shijie to come to talk about financing.

  Now as long as Kugou is taken down again, Penguin Music Group TME will control two-thirds.

  Of course, the core issue in the future is copyright.

  However, it is too early to talk about copyright, and the music payment market is not mature.

  Baidu is still in a lawsuit against the four major recordings. NetEase shut down the already tasteless MP3 music business due to pressure from the copyright owner.

  Only Baidu is still carrying it, because MP3 search has contributed too much traffic to Baidu and cannot be abandoned.

   "Old payment, you take Mr. Xie to the next door to discuss the specific financing plan!"

  Xia Jingxing glanced at Fu Jixun and ordered.

  Fu Jixun said hello, and then took Xie Zhenyu to the next office.

   Zhou Hongyi was afraid of technical background, and the honest Xie Zhenyu suffered a disadvantage. He wanted to follow, but Xia Jingxing held her shoulders on her shoulders and pressed her tightly on the seat.

   smiled and joked, “Old Zhou, Mr. Xie is no longer a kid, what are you doing with the past? Sit down and chat together for a while.”

   Zhou Hongyi glanced at Xia Jingxing, he knew that the capitalist was not at ease again.

  The stupid boy Dai Zhikang promised too readily last time, he had already suffered a lot, and he was worried that Xie Zhenyu would repeat the same mistakes.

  Xia Jingxing directly saw through Zhou Hongyi’s careful thoughts, the red cannon belonged to the kind of person who couldn't afford to lose a bit.

   "Old Zhou, if you pass." Xia Jingxing glanced at Zhou Zhaolong, "If I talk to Mr. Zhou about financing plans, what will you do? Run both ends?"

   Zhou Hongyi thinks about it carefully, it is indeed lack of skill to do it, so he can only choose to take care of it. He feels a little calculated.

   "Okay, Lao Zhou, didn't you just praise me for my generosity and pride?" Xia Jingxing patted Zhou Hongyi on the shoulder, "Don't worry, you can't lose money."

   Zhou Hongyi sighed in his heart. He can now see Xia Jingxing’s true face, even more rascal than him.

   Comforted Zhou Hongyi, Xia Jingxing looked up at Zhou Zhaolong, smiled and said: "Let Zhou Zong wait a long time, let's start too!"

  (End of this chapter)