Chapter 202 Video Website
Fred was very puzzled as to why Qin Shaoyan wanted to build a separate website for playing videos.
“Should we integrate the video playback page into Facebook?” Fred asked doubtfully.
“No.” Qin Shaoyan said with a smile, “Let’s build a separate website that can upload videos and play videos online.”
“Is there any point in doing this?” Fred was a little confused. asked in confusion.
"It's easier to cash out this way." Qin Shaoyan replied, "First make the website bigger, and then sell it to Facebook, or sell it to others."
Fred suddenly realized, "This is indeed a good idea. Method.”
Then the two began to discuss the issue of investment ratio and equity distribution. Of course, this matter cannot be bypassed by Fred, and the early development of the video website will require the cooperation of Facebook.
Of course, it is impossible for Qin Shaoyan to spend his own money to build a video website this time like Facebook did last time.
He decisively contacted two venture capital firms, Sequoia and Microsoft, and pulled them over.
Taylor was a little surprised when he heard that Qin Shaoyan's new project was a video website, "Why do you want to build this thing?"
"It's very simple." Qin Shaoyan replied confidently, "This is the future of the Internet."
Microsoft representative Davis Hansen frowned, "Mr. Qin, your statement is too broad. You might as well make it clearer."
"The early Internet was all through text. To spread information, and then there were pictures, and then it evolved from pictures to videos. "Qin Shaoyan said with a smile, "The evolution process of the website is exactly the same."
"Facebook has been the most successful in evolving from text to pictures. Representative of the website, then whoever controls the video website will control the future of the Internet. ”
"The trinity of text, pictures, and videos makes the Internet richer in information and allows netizens to obtain information more intuitively."
"The emergence of specialized video websites is an inevitable result of development. Although videos have already appeared on the Internet, services, but there is no professional video website. There is a broad blue ocean on this track.”
“And with the continuous advancement of technology and the development of hardware and infrastructure, the development prospects of video websites are very bright. The vastness.”
“In the near future we will be able to watch TV programs, watch news videos, or watch movies on the Internet.”
Taylor pondered for a moment and nodded. "The video website project is indeed good, but why not put it on Facebook as a sub-category page?"
"It's very simple." Qin Shaoyan replied without hesitation, "It's to isolate risks."
"The development of video websites will have an impact on Facebook, whether it is a positive impact or a negative impact. OK.”
“It’s too risky to put it on Facebook. It’s better to set up a separate website.”
“Just abandon it if it fails. It won’t affect Facebook. If it succeeds. , then it’s not too late to merge.”
Taylor thought about it and felt that there was no problem, and asked directly: “How much do you want?”
Qin Shaoyan smiled slightly, "Why do you want to get 20 million US dollars?"
Microsoft's Davis frowned, "Then what is your valuation?"
"At least. One hundred million dollars," Qin Shaoyan said casually.
“One hundred million dollars?!” Taylor retorted displeasedly, “How could such a high value exist? You are extorting.”
“Don’t talk nonsense!” Qin Shaoyan was dissatisfied Said, "Video websites are very valuable. My entrepreneurial projects have always been like this. If you think it is expensive, sometimes you have to look for your own reasons. Has Sequoia invested well after so many years? Have you worked hard? ?”
"No, no, no, John, you are talking nonsense." Taylor shook his head and denied repeatedly: "Video websites may be the future, but now you have nothing, and it is not certain whether this project will succeed."
< br>“A valuation of US$100 million is too exaggerated. Less than US$50 million is okay.”
Qin Shaoyan didn’t waste any time and stood up directly, “It’s a pity then. I hope that the video website will raise Series A financing next time. Let’s talk about it later.”
Tyler sat firmly on the sofa without moving. Microsoft's Davis was about to get up, but when he saw Taylor didn't move, he sat back on the sofa.
"John, it's too sentimental for you to say this. We are friends." Taylor sighed, "For the sake of my friends, I will agree to this valuation. What about the division of shares?"
Qin Shaoyan said slowly: "Twenty million dollars in exchange for 20% of the shares, 10% of the shares will be given to a professional technician, and 10% of the shares will be reserved as an option pool. I will take 50% and Fred 10%."
"Of course, I will also provide part of the funds."
Of course this part cannot be 40 million US dollars. Qin Shaoyan is only prepared to use 5 million US dollars to test the water.
Video websites are different from Facebook. This is a huge money burner.
Even if you seize the opportunity and develop early, it will be useless. It is easy for subsequent competitors to overtake you, and the websites that enter the game later are often supported by Internet giants with deep pockets.
Video websites are different from later short videos. Short videos also have a recommendation algorithm as a moat. Today's video websites will soon fall into fierce competition among their peers.
For example, YouTube will be established in three or four months, and will be acquired by Google more than a year later.
Qin Shaoyan did not expect the video website to become the No. 1 in the industry like Facebook. He simply wanted to make a fortune.
Microsoft's Davis is a little curious, "Which programmer are you looking for who is worthy of your 10% stake?"
"Bram Cohen." Qin Shaoyan said lightly, "The inventor of BT download technology."
Fred and Davis both took a breath, it turned out to be this great god, then It's really worth 10% of the shares.
Taylor didn’t know Bram Cohen, he had only heard of BT downloads.
But looking at Davis's reaction, Taylor quickly understood that this person should be a very powerful person.
Sequoia and Microsoft signed an investment letter of intent on the spot, and their assistants and teams were responsible for following up on the specific details.
It is impossible for several CEOs to discuss these trivial matters together. They are more imagining about good money and the future.
Qin Shaoyan is very good at this aspect. He can focus on the venture capital perception track. By aligning the granularity and emotional value as the starting point, he can achieve precise empowerment with the help of venture capital.
What about the underlying logic, top-level design, vertical fields, and abstract and transparent transmission?
After listening to a large section of the oral performance, Taylor and Davis left with great satisfaction.
The construction of the video website was quickly put on the agenda.
Qin Shaoyan asked Fred to recruit elite programmers from Facebook and start working directly in an office on Facebook without changing the office location.
While writing the website design requirements, he was contacting Fatty G, hoping that Fatty G could come forward to persuade Bram Cohen so that the autistic boss could come over and help him build a video website.
With tight time and heavy tasks, Qin Shaoyan fell into crazy overtime work again, discussing with programmers every day the design requirements for the docking website.
After working for three consecutive days, Qin Shaoyan, who was a little tired, got off work early and returned to his rented apartment, ready to take a bath and have a good sleep.
As soon as I walked in and before I took off my coat, there was a knock on the door.
Qin Shaoyan opened the door and saw Lei Meng standing at the door.
Behind him, there was a middle-aged man standing, who looked somewhat similar to Raymond.
"Mr. Qin." Lei Meng said in a sullen voice, "How is the progress you promised me?"
(End of this chapter)