My Age of Investment

  Chapter 509 Unlucky Child (seeking monthly pass)

  Xia Jinghang asked Tong Shijie to contact Zhou Zhaolong some time ago, but Tong Shijie gave him feedback, saying that Zhou Zhaolong’s attitude is neither lukewarm nor cold, and it seems that he doesn’t really want to raise money.

  Tong Shijie did not find out the specific reason. Xia Jingxing guessed that it might have something to do with resources and brands.

  Axel is well-known abroad, but he has just entered China and is still an unknown person in China. Compared with the head fund, the fund plate of 100 million US dollars is slightly shabby.

  As for post-investment services, Axel, who has not yet voted for a few projects, has nothing to talk about.

  Tong Shijie himself is not a well-known investor.

  Xia Jingxing originally considered that Xunlei will launch Xunlei in the future. Envision Capital has already invested heavily in Tudou.com, and then invest in Xunlei. Maybe the founders of Xunlei and Tudou will have ideas.

  But Tong Shijie didn't have a smooth contact with Zhou Zhaolong, so he had to go to the battle in person.

  Anyway, Xunlei’s current business is mainly downloading. It’s invested first, and conflicts of interest will be resolved later. If it can’t be resolved, the shares will be transferred to Axel. Xia Jingxing thought so.

  Zhou Zhaolong wears a pair of gold-rimmed glasses. He is only in his early thirties, and his figure is already slightly fattened.

  He has studied in the United States for many years, and he admires Xia Jingxing, who founded Facebook. At this time, the rumors have been dispelled, and his impression of Xia Jingxing has improved again.

  He laughed and introduced: “I’m actually like you, Mr. Xia. I went to the U.S. for my undergraduate study. I studied at Wisconsin State University-Madison. I first studied economics, but later I found that I liked computers more, so I changed my major.”

  Xia Jingxing smiled and said, “Is it? This university is very good. It is a public Ivy League and ranked in the top 50 in the world.”

  He remembered that a young man who had lunch with Buffett also graduated from this university. He also studied computer and did a lot of work.

  "Later, I went to Duke University to study for a master's degree in computer science, and then became a software engineer. I had planned to buy a house by mortgage and became an office worker.

  But in the summer of 1999, I took a trip to Silicon Valley, which completely changed my mind..."

  After listening to Xia Jingxing, she was speechless.

  This big brother was hired by Google and a company next to Google at the same time, and then he gave up joining Google and chose another company.

  The reason is that Google is still working in the garage, while the other company is larger, with a small two-story building.

  Xia Jingxing helped with the calculations and made up for it: “Marissa Mayer received an offer at the same time as you. After Google went public, she was worth more than 100 million US dollars.”

   Zhou Zhaolong's mouth twitched, and his heart was pricked.

Zhou Hongyi shook his head, "That's a big beauty. I heard that Larry Page had an appointment with her. The position of her is also a vice president. You are a Chinese. Even if you join early, you will be a middle-level person at most. There may be fewer options shares. , But the value of twenty to thirty million dollars can't run away.

  Oh, no, Google’s share price has now more than tripled, and it’s almost 100 million U.S. dollars. "

  Zhou Zhaolong knew that the two were joking, teasing his bad luck, he was not angry, and he continued to tell his sad or unlucky stories.

  "When I was in Silicon Valley, I also founded two or three small companies. Once I made friends with Xu Yong, the co-founder of Baidu, because of buying and selling second-hand cars. He also invited me back to China to start a business...

  When Robin and Lee were in Silicon Valley, our relationship was very good. We often ate together, and the couple invited me back to China to start a business together...

   Another friend of mine, Yang Ning, first founded Chinaren with Chen Yizhou. Later, Kongzhong.com also went public...

  I also joined the Huayuan Science and Technology Association. Brother Chen Hong is also very familiar with him. His company is also listed..."

  Xia Jingxing smiled, anyway, the companies of acquaintances and friends around him are all listed, but he is still messing around, which is really unlucky.

   Zhou Hongyi grinned and comforted: "Come on, you can do it too."

  For high-spirited people, so many friends around to ring the bell for listing, it is indeed a big blow, but it is also very spurring.

  Zhou Zhaolong was very optimistic, shrugged, and laughed at himself: "There is no way, I simply returned to China in early 2003, and my partner Cheng Hao paid 50,000 yuan each to start Xunlei together."

  Xia Jingxing smiled, and it was really not very good. For a person who had studied and worked in the United States for ten years, he could only pay 50,000 yuan to start a company.

Zhou Zhaolong was not embarrassed at all, and continued to surprise Xia Jingxing, "At that time, in order to make up this huge sum of money, I was still shy and borrowed 1,000 US dollars and 2,000 US dollars from my classmates one by one.

  Fortunately, not long after the company was founded, Lao Zhou invested 700,000 RMB to us, and also introduced IDG's $1 million A round of investment.

  We are currently planning to raise the B round, and the estimated financing scale is US$10 million. "

  Xia Jingxing nodded, "Okay, I understand, let's talk about the current situation of Xunlei."

  "...Last year we caught up with and surpassed our competitor's Internet Express, and now Xunlei has become the number one download service. This year we successfully released Xunlei 5 and Mini Xunlei..."

  Xia Jingxing heard the name of Internet Express, and felt a little bit emotional. This is the software developed by Canadian Chinese Hou Yantang in 1999. It is the first Chinese software in China that provides services to users in 219 countries around the world.

  Originally leading all the way, but this buddy fell in love with Warcraft last year, playing games every day, without updating the software for a year, giving Xunlei a chance.

  This is what Xia Jingxing has heard about, because of the biggest loss of "Internet addiction", a listed company was lost alive.

  Xunlei and Internet Express all use P2P peer-to-peer technology, and the download speed has increased rapidly. In the era of limited bandwidth, this kind of tool is very useful, and downloading games and movies requires them.

  Waiting for the popularization of WiFi and mobile Internet, it will naturally decline, and Xunlei has also joined the blockchain.

  However, in the first ten years of its founding, Xunlei was still very beautiful.

It can basically be seen from here that the domestic Internet is basically synchronized with foreign countries. The music download software Napster developed by Sean Parker and the file sharing software Kazaa developed by Nicholas are almost at the same time as Soduan.com and International Express. Release of.

  However, Sean Parker and Nicholas were involved in lawsuits and were sued by the Recording Industry Association and the film company to close the company. However, the country is still relatively loose at present, everyone is still alive, and can still get financing.

  Zhou Zhaolong gave Xia Jingxing a comprehensive introduction to the current situation of the company, and then took the initiative to talk about the profit model.

   "When the market position becomes more stable, we plan to launch services such as pop-up ads and paid accelerated membership."

  In fact, the truth is the same.

   "Okay, I have almost got it, what valuation do you want to use for the B round of financing?"

Seeing Xia Jingxing's initiative to ask about the valuation, Zhou Zhaolong glanced at Zhou Hongyi.

  Red Cannon understood, and said lightly: “During the angel round of financing, I signed an anti-dilution clause with IDG, and I am still working at IDG, so I can’t save my face.

  Financing can be dominated by Vision Capital, but the financing share needs to be divided into IDG, not too much, 25% is fine. "

  Xia Jingxing heard it, knowing that she couldn't eat alone, nodded and said: "Yes."

  Zhou Zhaolong said: “In terms of valuation, we want to follow the post-investment valuation of 40 million US dollars. After all, we are now the number one in the market, and this valuation is not too high.”

  Xia Jingxing thought for a while, nodded again, "No problem, call the IDG people, talk together once, and then finalize the matter."

   Zhou Hongyi and Zhou Zhaolong looked at each other, and both nodded.

  At this time, there was a "bang-bang-bang" knock on the door.

  After getting permission, Fu Jixun walked in with the same bright smile, Xie Zhenyu.

  Fu Jixun did not shy away from others, and directly reported to Xia Jinghanghui: “The pre-investment valuation of 150 million yuan, Envision Capital invested 50 million yuan, accounting for 25% of the shares.”

  Xia Jingxing didn't say anything, and nodded, he set an upper limit for Fu Jixun's valuation, which was far from that line.

   Kugou has tens of millions of users, and its pre-investment valuation is less than 20 million US dollars. It is not expensive and completely acceptable.

  Xunlei and Kugou have similar user numbers and business models, but because of their dominant market share in the industry, Xunlei’s valuation is much higher.

   Zhou Hongyi was also generally satisfied with this valuation. After taking a look at Xie Zhenyu, they both nodded lightly.

  (End of this chapter)