Salted Fish’s Self-help Strategy

The so-called trouble of happiness is that when Chu Yuanxi founded the Ba people last year, he originally thought that the Ba people could reach the tens of billions level, and they would almost be able to make a comfortable life. In the end, they reached 30 to 40 billion, with a yearly output. The amount of milk is seven billion, and now, there is a chance to make another effort to achieve the scale of 60 billion. This is something that I never thought of. The reason can only be said that the short video is too powerful, and the dividends have exceeded the ideal expectations at the beginning, so the tide has risen, and the fire has become more and more prosperous.

After Chu Yuanxi clarified the entangled issues and the prospects of UGC games, Yuan Jing was almost confused, saying that you have never been beaten by the capital market! How do you know that you will be able to succeed if you become a UGC game platform? It is very likely that I went in for hundreds of millions of dollars and finally died. This is a high probability event.

This is not Yuan Jing's ability to look down on Chu Yuanxi, but the law of the market. There are more people who want to build various platforms, and they have their own advantages when they start, and they have various advantages, and then they are repeatedly educated by the market. Everyone knows the benefits of being a platform, and the attraction is huge, but how many are successful? Even if it is on the right path, how much money must be filled in to get ahead?

He even felt that certain dangerous signals for Chu Yuanxi were appearing. It was not that there was something wrong with the business operation, but that the entrepreneurial process was so smooth that Chu Yuanxi was a little forgetful. As a result, all targets are expected to be set at 120%, and then go up. Can this work?

But limited to professional ethics, he couldn't say that "doing business is enough to stop when you are good." Every entrepreneur's style is different. Some people just get right when they see it, and some people don't use their ability to the limit, but will cause unforced losses. Therefore, there are investors like Sun Dasheng who will double the incentives for entrepreneurs to increase their ambitions. The so-called only upper limit of the company is that the founder's ambition comes from this way.

Therefore, Yuan Jing adopted a tactful saying: "If you are so entangled, don't sell it at all. I think you have a better understanding of the capital market, so just make a long-term listing plan for the Pakistani Group. Two points, first Point, leave enough time to support the well-off, and second point, remove traces of related transactions, keep business status and financial reports healthy, and don’t let the Securities Regulatory Commission pick out faults when reviewing qualifications. Simple?"

Chu Yuanxixin said that it is not simple at all. It is no longer as good as the past. I am particularly confident that Pakistani IPOs are going back ten years. Backdoor is not impossible. The mental outlook of the current supervisory authority is very different from the past. Just because of the traces of the transfer of interests of the Pakistani people, do you want to go public and not be cramped? It is absolutely impossible for the Issuing Examination Committee to ask about five ridges and six beasts. The Pakistani people are likely to be taken away by a series of moves by the Issuing Examination Committee, which will cost them time and expense.

And I don’t sell Pakistani games. I’m afraid you won’t be able to work hard. Therefore, Chu Yuanxi's strategy from the beginning was to go public with a well-off operation and not to go public.

Today, he clearly felt that Yuan Jing was not optimistic about him, especially in the field of games!

You need to know about the convenience store. It's a mess, but Chu Yuanxi hasn't finished it yet, but the game has come up with a company that can sell for 30 billion!

The simple reason is that if Yuan Jing is optimistic, he must add the third item to the listing plan, and wait until the game UGC platform is successful. The so-called success, how can there be tens of millions of users and MAU? Even if the value of listing at that time was not the maximum value, it was definitely a peak value.

"You can't be underestimated by Yuan Jing!"

But he is not easy to reject Yuan Jing outright, and there is actually a little thing to trouble Yuan Jing today.

Not to mention how to deal with the relationship between friends and work, when the Pakistani people started financing, he did not openly say to others-we will not be listed.

Although Yuan Jing should be clear about everything, the superficial article cannot be said to be broken. If you see it, you can't say it. Some friends do. To a certain extent, the goal of "listing" is the default of all entrepreneurs, because this is the most important exit channel for investors. Fundraising, investment, management, and withdrawal are four major links. Withdrawal is the last technology in the closed loop. Investors usually do not require dividends, but they certainly require withdrawal.

Whether to go public or when to go public may not be so straightforward for those who make early investments, but investors do not clearly mark the price and use "listing within a certain period of time" as a gambling condition. In fact, it is their demeanor. Be polite to entrepreneurs. If the entrepreneur does not intend to go public, in accordance with the most basic ethics and responsibilities, they should communicate in advance when raising funds. The entrepreneur must not disregard the listing just because the investor did not request it.

However, the extent to which entrepreneurs are responsible is also very knowledgeable. Some entrepreneurs were ambitious at first and signed a listing to bet, and then the market situation suddenly changed. The management directly stopped IPO and backdoor, and blocked all direct financing channels. Therefore, the entrepreneurs suddenly bear unlimited joint and several liability for the failure of the gambling, and even the widows have hundreds of millions of debts. It seems that such a fascinating thing has actually happened.

Moreover, this startup that once called the wind and rain is also in the cultural and creative industry. Chu Yuanxi's description of Baren Entertainment was "we are the cultural and creative industry", which is very unlucky in Yuan Jing's ears!

In addition to the flexibility of exit, the biggest impact of listing is market value. The "valuation" before the public listing and the "market value" after entering the secondary market follow a completely different process.

Before listing, various models are used to calculate. The secondary market uses cash to obtain market value. Before listing, Chu Yuanxi can make a rational valuation. After listing, the secondary market’s brain will not increase three or four times. Restraint, and when the bear market comes and the stock price starts to fall, it will cut in half and then cut in half. Leeks are generally played like this.

Moreover, the management must deliberately avoid human intervention, and other methods other than increase and decrease are very inappropriate. When Chu Yuanxi wants to post on Weibo, he has to weigh it beforehand, otherwise the professional secretary of the board of the listed company will have to carry a knife to work.

Fortunately, Pakistani Games has already been promoted to become a gold-sucking monster, and is on the same level as the old players who have maintained a strong brand for ten years, so Yuan Jing should have a little bottom in his heart.

Therefore, Chu Yuanxi's speech is relatively open, "If you are struggling with the flexibility to withdraw, it is actually very simple. Now you are an investor in Pakistan, and you can privatize anytime and anywhere as long as we negotiate. Or I will give You have the right to sell freely, and you can sell it to whomever you want, as long as you give up the right to vote. But you'd better wait for this dividend before considering it."

In fact, this voting power was originally only a few percent, because the Pakistani people’s equity is concentrated, so it is of little significance. The reason why Chu Yuanxi made this request is because whoever holds this voting right can disgust him. For example, asking for the establishment of a board of directors, is it always okay to ask? It is like a toad lying on its feet, not biting but frightening. Yuan Jing won't disgust him, what about the newcomers? So it's over if we cut off this bane early.

Yuan Jing didn't speak for a long time. At this moment, silence is better than speech. In fact, Chu Yuanxi calculated the account and calculated Zheng De's investment based on the overall valuation of the Pakistani Group of 60 billion, without considering the dividend income. After the completion of the gambling, the value of the equity exceeded 1.3 billion, with 150 million invested, and a net profit of 1.2 billion. Moreover, Yuan Jing may sell even higher for only two years. It is not unprofitable. In this economic winter, middle-level private equity businessmen can be envied to death.

However, this result probably does not meet Yuan Jing's original vision, right? The typical investment is multiple rounds of continuous follow-up, which is to keep raising a lot of optimistic companies, and eat a lot of fat when they exit. The Pakistani people are not just a typical start-up company. After a round of trips, there are no more investors. They even waved money to clear people. If they clear the market, they are typical scumbags.

However, when investors and entrepreneurs talk about exiting, although they do not necessarily quit as soon as the talks are finished, they are also the same as a couple talking about divorce. It does not mean that the relationship has broken down, but it is also impossible to "talk casually". It will be a bit awkward.

Chu Yuanxi broke the embarrassment first: "Don't worry about listing or exiting. Let me do it now. The main thing that is entangled is not whether Ali admits the 40 billion asking price, but I hope to keep "Wu Dao Faunjun" in Pakistan. "

"Then your negotiation task is too arduous!" Yuan Jing couldn't help but feel ashamed. All the benefits of this are taken by you! Do you think Ali is a little white rabbit?

Just listen to Chu Yuanxi said: "I can reduce the price, I can reduce the price to 35 billion, I will suffer a bit."

Yuan Jingxin said I can go to your uncle! "You call it a price cut? Can you drive up prices?"

"No, Ali has accepted a naked "Troubled Times" project team and all related IP + self-media resources packaged 30 billion. Don't you know this?"

"Ah? So that's it?" Yuan Jing was stunned. "If I replaced this condition with the president of Pakistani Group, I accepted it at that time."

"This condition, if I am the president of Zheng De Fund, I also accept it."

"Hahahaha—" Yuan Jing laughed extremely rarely because of feeling Chu Yuanxi's contempt.

Chu Yuanxi herself was a little embarrassed, "I think it's just going to be sold. The shortcomings are almost meaningless."

Yuan Jing almost laughed and cried, "You told me this, if I guessed it correctly, to get me to find a relationship with Ali, right? I don’t understand what you are holding? Is Ali unable to communicate?"

Chu Yuanxi put out her careful thoughts and thoughts out: "Brother, it's not good! You don't know that I have an information advantage now, and you don't know how popular "Wu Dao Faunjun" is."

"Aren't you online yet?"

"Yes, but we ran an informal test, and the art resources were not complete. The word of mouth has exploded. If this test server is launched now, it will cost at least 10 million DAU. I am not exaggerating."

"Really so powerful?"

"Officially, as long as the server does not drop the chain, it is guaranteed to be better than this." Chu Yuanxi felt that this informal test was very useful. It was equivalent to a very strong stress test, and it instantly raised Zhao Jie's vigilance. I am ready to face the gust of wind, and I don’t know if it’s blast or madness after going online.

"Oh wrong, according to your logic, shouldn't you add money at this time?"

After Chu Yuanxi explained it, Yuan Jing has understood his logic. Ali’s asking price is the basic value, and the small game IP plan is the value-added part. This plan is meaningful whether it is to consolidate the integrity and heritage of the Pakistani game, or to set a higher premium.

Chu Yuanxi's original plan was to equate the value of this part of the value-added with 10 billion, at least it seems that it can be equated, and then talk to Ali. Wouldn’t it be very shameless if Ali offered a price and accepted Chu Yuanxi? Detailed business conditions are not easy to discuss.

So now that the current situation shows a trend that seems to exceed 10 billion, isn't it over with more money? What can be embarrassing?

"Oh, first of all, I can't add any more money. Both the bid and my counter-offer are already high. Next, I packaged and sold "Wu Dao Hun Jun" to Ali, and then? I don't have a suitable IP in my hand. I’m going to be a UGC game platform. For this platform, I definitely don’t package the idea to Ali and encourage them to do it? I have the right entry conditions to do it myself."

This reason confuses Yuan Jing. He said naturally, "No, can't you just make a big IP?"

"Hahahaha, Yuan Jing, do you misunderstand me because it is too easy to do IP?" Chu Yuanxi suddenly found that Yuan Jing was a bit outrageous as a layman? "Not to mention whether Uncle Sheng has any more awesome ideas to make a new IP, even if there is, it won't work, because this business model has to be sold to Ali. Ali can tolerate Pakistani continue to make games is already quite big , My request is here.

Ali will definitely not allow Pakistani people to reincarnate and regenerate products of the same type. It is inevitable for the mini game IP plan to sign an exclusive agreement, at least for a few years. We can only incubate by cultivating "Troubled Times". That's too difficult. Fans are not my slaves. Why do I call them? All fans of Pakistani people use it for IP? That's impossible, too primitive.

Besides, playing content is not our strength. "

"Wait, are you really humble?" Yuan Jing finally heard Chu Yuanxi say that playing content is not his strong point, and he couldn't believe his ears!

"I'm comparing it with the head. We can play, but there is no foundation. Do you understand the foundation? In fact, after the groupization, although Pakistani information has been operating, there are very few achievements in complete roads, that is, robots. The plan is still unique and not suitable to be built as a big IP. The content that can enter the IP caliber has always relied on the founder team. Later, Zhou Minxi and Mario were added, and I was basically drained. I am, Ugh!"

While speaking, Chu Yuanxi was also reflecting on why he didn't expand the content team after he knew the importance of the content before, relying on the hair of Uncle Yao Sheng to live, and now he has to lament the lack of content. This cannot be said to be a mistake, because the expansion of the content team is useless. The content team can only solve the content production problem, but the content production is only a basic part of the entire content operation. What determines the upper limit of the content is called the operation link. The decision is the lower limit of the content.

Fighting operations, Pakistani people are considered big in the We Media, but they are simply incomparable with IP platforms. A large platform like Wenwen can incubate 100 good IPs at the same time. Pakistani people can only gather all the traffic in one place and incubate one superior force, so that it is possible to stand on the same starting line as other people's 100 IPs.

This is the lack of background. Pakistani people operate at most two IPs a year, and there is no guarantee that they will be successful.

Last year, Chu Yuanxi was very confident that it was done because last year was the year of the rise of Douyin. The traffic was large and it was easy to attract fans, but there were few powerful competitors. On Douyin, there were mostly wild players at the UGC level, and the competitive pressure was extremely low. , He is still driving gold finger. This year, various professional operation teams and content teams have all entered Douyin. On the contrary, the information of Pakistani people is a bit obscure after Chu Yuanxi let go.

This is also a true manifestation of Chu Yuanxi's ability. Originally, it was not a great content player. Relying on gold fingers to get a wave of fan capital and immediately enter the field of operation that he was good at was the only solution to creating the first IP. Otherwise, if you can do it casually, what can you do with such a big effort to build a small game IP plan?

It is precisely because of this sober cognition that Chu Yuanxi knew that the best time to sell Pakistani games this time was before the launch of "Wu Dao Tunjun" ~www.wuxiaspot.com~ He sighed and said in one breath: " So my information advantage can only be dragged before "Wu Dao Hun Jun" goes online. My current plan is to keep "Wu Dao Hun Jun" and sell the others, but after the "Wu Dao Faun Jun" goes live, I am afraid of Ali When asked, the roll call must include "Wu Dao faunjun." Then I am embarrassed. There is no other suitable substitute in my sight. I don't even have an idea. Maybe it may not be available after a year.

So I need you to help me speed up the acquisition process. It is best to make a preliminary plan in early November. I am afraid that the version number will come down later and I cannot continue to delay it. "

Yuan Jingxin said that the embarrassment of working with you was caused by you alone? Didn't you make everything better if you didn't say a few words? Others are looking forward to the version number hurrying down so that they can enter the market to make money, but you are good, you are really a god!

In fact, this is the reason why Chu Yuanxi used the small game IP plan as a gimmick to tell Ali. At that time, he didn’t know that Uncle Sheng’s box still had such good goods hidden in his box, nor did he expect that Zhao Jie’s team chose to pay tribute to the "Plague Company" so well, and he didn’t expect his inspiration to find ideas from Yang Jiangang and decided Take the RPG game UGC platform as a new breakthrough.

As a result, I became the one who was holding back and caught up!

"This matter..." Yuan Jing asked, "What is your bottom line?"

"The 30 billion bid will remain unchanged. I can accept the three existing mini games and pack them in. Of course, it would be better to add some money, but I have to leave Zhao Jie with me. I can't wait to build this platform. ."

Yuan Jing was silent for a while: "I understand."

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