Reinventing the Millennium

With the departure of Xiong Xiaoge, President of IDG Capital China, all the venture capital investors present today were relieved, while Fang Zhuo breathed a sigh of relief.

Xiong Xiaoge is one of the earliest investors in China, dating back to 1993.

The real rise of domestic venture capital came after the "CPPCC Proposal No. 1" was put forward in 1998. A group of foreign and private capital entered this field, setting off a wave of venture capital fever.

During this period, Xiong Xiaoge established a technology venture capital fund with the Ministry of Science and Technology on behalf of IDG and promised to provide US$1 billion in entrepreneurial funds to the domestic technology industry within 7 years, which was particularly eye-catching.

It can be said that he is the most professional, law-savvy and venture capital leader among the group of people here today.

Guahao.com only issued an announcement last night. In less than 10 hours, he gathered and connected seven venture capital companies and decided to hold a shareholders' meeting to directly replace the president of Guahao.com.

No mercy at all, no room for mercy.

It cannot be said that he is not decisive, nor can he be said to be immature.

Of course, this is also because the front and back operations on the registration website are so annoying...

Fang Zhuo is sympathetic to Xiong Xiaoge, but he will not worry about anything just because of the celebrity halo.

Ultimately, the number one reason VCs are willing to invest money is for profit, and all other things are secondary to this priority.

Therefore, what belongs to God belongs to God, what belongs to Caesar belongs to Caesar, and what belongs to venture capital belongs to the registration network. This is written in black and white and protected by law!

"Everyone, please sit down. We have to talk about things, so why do you want to do this?"

Facing the remaining six venture capital firms that had lost their leaders, Fang Zhuo softened his tone a lot.

The real development of domestic venture capital has been in the past two or three years. Once Xiong Xiaoge left, the only ones who can talk about professionalism are Xu Xin from Capital Today, Liao Yong from Sequoia, and half of them can be considered as new investors. Wang Fengyi.

Others, such as Dachen Venture Capital, were only established in April last year, and they started operating relatively ignorantly.

But having said that, it may not be difficult to deal with someone who is professional, but it may be more nerve-wracking to deal with someone who is unprofessional.

Fang Zhuo thought for a while and said with a wry smile: "Mr. Xiong probably has some misunderstandings about me."

He named him and said: "But Mr. Xu, your capital today is still invested in my Yike, and you are also coming to force me to marry you?"

Xu Xin hesitated. She was not as determined as Xiong Xiaoge, and she did get along well with Fang Zhuo before. She also held 5% of Yike's shares, and sighed: "We are also helpless."

As mentioned before, the contract has been signed and the money has been paid. Now it is a breach of contract to shout about divestment. But if there is no breach of contract, won’t the money be wasted?

Moreover, this cannot be delayed. Once it is delayed, the money in the account will be gone.

Fang Zhuo ignored her and continued to name names: "Mr. Qiao, okay, let's forget about it. Shenzhen Venture Capital is also joining in the fun? Is this how your state-owned assets do things? Are you trying to force me to violate national policies today?"

Without waiting for an answer, he looked at the next person: "Mr. Zhou, last month Dachen Venture Capital cried and shouted for a second round of financing. I said at that time that there were risks and there were risks. Don't come if you have just established it. As a result, Because of Mr. Zheng’s face, I still let you join in. Do you think I’m easy to bully now?”

When Fang Zhuo said this, he looked around, slammed the table, and shouted loudly: "Where is Mr. Zheng? Why doesn't Zheng Lang from Sequoia dare to come see me!"

Liao Yong, who was present at Sequoia today, is also a vice president, and his rank is slightly lower than Zheng Lang. He originally heard that his name was mentioned quickly, but in the end he just ignored it and couldn't help but said angrily: "Fang Zhuo, you shouted What are you shouting?!"

Fang Zhuo glared angrily: "You can't even count the voting rights in the option pool? Are you worthy of forcing the palace to seize power? What's your name!"

Liao Yong was ashamed and annoyed, gritted his teeth and said: "I am Liao Yong."

Fang Zhuo scolded: "How dare you sign up! Liao Yong, today's shareholders' meeting cannot defeat Fang Zhuo, the entire responsibility lies with you, Sequoia! You still have the nerve to sit here!"

Liao Yong was stunned, face flushed, and felt as if he was being scolded by his elder brother: "You...I..."

His courage was taken away, and he couldn't answer for a while.

He looked at Fang Zhuo blankly, and from the corner of his eye, he saw the eyes of other colleagues, and felt that they really meant to blame himself.

"Okay, okay, this is not over yet!"

Liao Yong stood up and left.

The door to the conference room was pushed open before him, and three middle-aged men in formal suits hurried in with briefcases under their arms.

"Liao Yong, don't leave. Let's listen to what the legal affairs department is doing to popularize the law." Fang Zhuo, sitting in the main seat of the conference room, said this calmly.

The three lawyers specializing in commercial non-litigation glanced at Liao Yong in unison.

Liao Yong left without looking back.

So far, the seven venture capital firms that have come together have left Sequoia, the leader and the largest shareholder, leaving only five.

Three well-known lawyers in Shanghai sat on the seats on both sides of Fang Zhuo. Behind him stood five individual shareholders with voting rights, and next to him was Shenxin Wang Fengyi, who signed the "Concerted Acting Persons Agreement."

This scene made the remaining five venture capital firms feel that this trip was hopeless.

Fang Zhuo waited until the three lawyers put a stack of contracts on the table before he said: "You guys are here, let me be blunt. I'm just thinking about taking the risks. Will you get the money? Is there anything else?" ?”

The five venture capital firms looked at each other in confusion. Those who wanted to speak saw the lawyer reviewing the contract but held back. They should have brought a lawyer with them this time! It’s all Sequoia’s fault!

"Why did I make the announcement? That's because I got the news in advance."

"The financing we negotiated last month, if there are policy changes early next year, and the time lag is so long, do you still have the nerve to divest?"

"Isn't it just that you just invested money in the front foot and there is no money to make in the back foot? That's why you came here?"

"Does this make sense?"

Fang Zhuo laughed and said bluntly: "Good guy, Mr. Xiong also said that if you breach the contract, you will breach the contract. Is this how venture capital works?"

He sarcastically said: "You are all abdicated by your talents as a venture capital investor. You should be working in the underworld."

Xu Xin frowned and said, "Fang Zhuo, I have something to say. Is it interesting for you to say such things?"

"Okay, Mr. Xu, the voting rights have been discussed and the contract is here. I will discuss the matter. If someone on our side had not had some connections, the situation of the registration website would only be worse." Fang Zhuo said calmly, "Everyone I want others to bear the risks and reap the benefits myself. If I were a venture capital investor, it might not be the same."

"But today I am the president of Guahao.com, and I want to continue Guahao.com, so I cannot agree to your divestment."

Xu Xin looked directly at the young man who surprised him today and asked: "Even at the risk of offending us and our five venture capital companies? Even if the investment circle knows about this?"

She originally wanted to say 8, then wanted to change it to 7, and finally said 5.

"Mr. Xu, don't do this." Fang Zhuo laughed for a while, "Here, tell me, I want to know what the risks are."

Xu Xin pondered.

Fang Zhuo said simply: "Since Mr. Xu said so, Yike is next door, and the lawyer is also there, so your investment of 5% of the shares will be returned to you directly."

Xu Xin was silent.

Lin Jia from 3i Group next to him encouraged: "Back off! Mr. Xu, let's back off!"

Xu Xin rolled his eyes at him and said, "One code is the same. What are you talking about? You didn't invest any money in Yikeli!"

She let out a long sigh, that was it, forget it.

Xu Xin stood up and said sincerely: "Mr. Fang, take care of yourself."

Another venture capital firm was in the conference room.

A total of nine people came from the seven venture capital firms. At this time, there were still six people from the four venture capital firms, which could not even compare with each other in terms of numbers!

Morale is quite low.

However, before Fang Zhuo finished speaking, he dropped the last big news: "You should have come earlier to withdraw capital. Even if the voting rights are obtained, the company has no capital to withdraw now."

"The online registration business cannot be profitable. This situation is quite special and the news is urgent."

"Taken together, Guohao.com has successfully acquired a small piece of land in Mayong Town, Guangdong Province, which will be used for the development of its pharmaceutical distribution business."

"At the same time, I used this piece of land to mortgage the bank to borrow money. The money currently on the book belongs to corporate liabilities, and it will be used to maintain the normal operation of the registration network."

"If the registration website fails, the banks, protected by law, will take priority in taking away their money."

To put it simply, you spend working capital to buy land, and then use the land to borrow cash from the bank. There is still money in the account, but the nature of the funds has changed.

The four venture capital firms were shocked and angry. Is there such a thing?

Lin Jia from 3i Group suddenly stood up and said loudly: "The money has just arrived, how can it be so fast? The bank loan process cannot be so fast! You are operating illegally!"

Fang Zhuo didn't answer, how could the bank's illegal operations be proven true?

He just spread his hands and signaled the professionals to take action.

The lawyer next to him, Li Jiangli, warned: "This gentleman, please don't talk nonsense."

He pointed to the trophy of "The First Batch of National Internet Innovation Industry Enterprises" that was shining brightly on the table, and explained: "Guahao.com has a very high market share, excellent business reputation, and good development expectations. It is normal for the bank loan process to be accelerated. of."

Lin Jia glared at him angrily and cursed: "Made, Fang Zhuo, you are underestimating your talents by working on the registration network!"

"Yes, I think so too, so there is a Yike store next door." Fang Zhuo sighed, "When our products are sold, we welcome 3i to invest."

Lin Jia gritted his teeth: "If I vote for you, uncle, even if I jump from this building, I will never vote for any project of your surname Fang again!"

Fang Zhuo shrugged and said lightly: "Harmony brings wealth."

Lin Jia and his colleagues from 3i left angrily.

There were three other companies in the conference room. This time, without waiting for Fang Zhuo to say anything, Legend Investment and Shenzhen Venture Capital also shook their heads and left.

Finally, there is a venture capital called Dachen Venture Capital.

Fang Zhuo looked at Zhou Zisen, who was holding his position at Dachen Venture Capital, and said, "Does Mr. Zhou have any other advice?"

"We at Dachen Venture Capital have not been established for a long time, and we have only been involved in the investment industry for a short time. Mr. Fang really taught me a lesson." Zhou Zisen said with half sarcasm and half admiration.

Fang Zhuo smiled slightly: "If Mr. Zhou can trust me, I can point you to a few companies to invest in."

Zhou Zisen stood up and shook his head: "Forget it. However, Mr. Fang, I have one last question. In any case, there is no possibility of profit from online registration. How come the registration website is still hanging on, so why is there any need to persist?"

"We've just had it together, how can we leave?" Fang Zhuo replied casually.

"Mr. Fang, I really want to ask for advice. You've already paid so much for tuition, and you're so unkind." Zhou Zisen was speechless.

Fang Zhuo sighed: "This is the difference between venture capital and enterprises. Venture capitalists want to invest money without any risk. When encountering risks, they still want to get their own money back. This is not good. They buy it and leave, and they are willing to admit defeat. That's all. .”

Zhou Zisen nodded lightly.

"Doing a business is different. If there are no problems, there is no value. When you encounter risks, you have to find ways to overcome them. How can you run away?"

"There is a classic saying in venture capital that in the end you invest in people rather than projects. If an entrepreneur or a leader doesn't have such tenacity, I don't think I should invest."

"Perhaps Mr. Zhou will have a headache because of my current prickly tenacity, and may even resent and curse me in his heart, but that's how business is done."

Fang Zhuo talked eloquently and said with a smile: "Actually, I am not unreasonable."

"But today, Mr. Xiong came up and wanted to take away my power. Mr. Xu asked me to cherish my reputation. Mr. Lin pointed at my nose and said I would refund the money. I didn't hear any reason that could convince me."

"If Mr. Zhou were in my position, his way of speaking and doing things might be different, but his heart would be the same."

Zhou Zisen felt the sincerity in the young CEO's words, thought for a moment, and said, "I don't have the means like Mr. Fang. No matter what, I still wish Guahao.com can overcome all obstacles and ride the wind and waves."

"Thank you, Mr. Zhou, I will." Fang Zhuo nodded, completely gone from the tense situation before.

After all, the swords are all thrust out, the crossbows are all fired...

Just as the two were exchanging greetings for no apparent reason, someone broke into the conference room again. Qian Fengyuan, a reporter from the Economic Information Daily who had a press pass, and his cameraman excitedly took pictures of the leftovers in front of him.

Qian Fengyuan wrote an exclusive interview for Fang Zhuo before. He just logged into his own news website yesterday and was reprinted by many portals. However, in the evening, he heard that there were changes in the core business of Guahao.com - even for a layman like him You can also understand the meaning of the pinned announcement.

Qian Fengyuan was stunned on the spot. He was boasting about being "the most high-spirited CEO of an Internet company in 2001", but it was going to end in the blink of an eye?

Doesn’t this make the content of the report a joke?

In the early hours of the morning, Qian Fengyuan received the news that the venture capital investors of Guohao.com would hold a meeting to discuss the matter. He immediately felt that something exciting was happening. However, he hurriedly hurried and slowed down but still failed to catch up. He just photographed the venture capital investors leaving one after another outside. figure.

"Mr. Fang, what happened today? Why did the registration website suddenly issue an announcement? What impact does this have on its future development?" Qian Fengyuan asked three questions in succession.

Fang Zhuo shook his head and refused: "I won't be interviewed today. Reporter Qian, please come back."

Qian Fengyuan turned his attention to Zhou Zisen of Dachen Venture Capital.

Zhou Zisen also shook his head. It's too embarrassing. It's better not to be interviewed.

"That's it for today." Fang Zhuo tapped the table with his index finger, "You still have things to do, so let's see the guests off."

Qian Fengyuan was stunned. When he saw Fang Zhuo turning around, he quickly asked the cameraman to take a picture of his back in the corridor, and then asked the camera to take a picture of the back of venture capitalist Zhou Zisen.

In a corridor, the former walked to the president's office alone, while the latter left the company silently.

In addition, several venture capital investors were hurriedly photographed at the elevator entrance looking aggrieved.

This can already support the picture material of a report.

Qian Fengyuan stood at the door of the registration website company, holding the hot coffee handed to him by the front desk. His heart was itching unbearably, and he only knew that the feeling of being scratched was too uncomfortable.

He pondered for a long time and began to make phone calls to piece together the truth of the meeting and the meaning of the actions of both parties.