Chapter 281 Fund Raising and Adjustment
Leaving Sina, no, it should be said that Xu Liangdao came after Hongmeng North America Branch.
"Have you contacted Reed Hastings?"
Lu Hui nodded, "He welcomes you to visit the company at any time."
"Red Guard, drive."
Netflix's headquarters is also in Silicon Valley, but it is not in the mainstream Palo Alto, but in Los Gatos at the southern end.
When Xu Liang arrived, Reed Hastings and company executives personally greeted him downstairs.
“We meet again, Mr. Xu.”
Holding the right hand extended by the other party, Xu Liang smiled and said: “I have been looking forward to this meeting for a long time.”
The two looked at each other and smiled. After Reed Hastings introduced the company executives to him, the group entered the company.
Had a brief visit.
At present, Netflix does not have many employees, only more than 100 employees in total.
This is also understandable. The Nasdaq crisis, coupled with the dilemma of still losing money, has left Netflix with no capital to recruit more employees and change to more luxurious and larger office locations.
After a brief look around, Xu Liang came to Reed Hastings' office.
A single room of about 40 square meters, surrounded by tempered glass.
There are several sofas nearby to serve as a reception area.
"Sorry, Netflix is still in the development stage, and we don't have much money to spend on office space for the time being."
As he said that, Reed Hastings handed over a glass of water.
“This is exactly the characteristic of an excellent company. If a company learns to enjoy it without completely turning losses into profits, it will definitely not go far, and I will not invest in it.”
Hastings smiled and stopped going in circles.
"Mr. Xu is very optimistic about our Netflix?"
"Yes. Regarding this, I already made it very clear when we were in the Stanford Auditorium." Xu Liang did not mince words.
After Hastings nodded slightly, "We at Netflix really need financing. I wonder what conditions Mr. Xu is willing to give?"
"With a valuation of US$800 million, Hanhua Capital obtained 15% of the shares.”
Reed Hastings was shocked. They had been contacting venture capital during this period, but due to the double blow of the Nasdaq winter and 9/11, the entire venture capital market was shaken. The industry appears very cautious.
Even the most generous Kleiner Perkins Caufield & Byers and Sequoia only gave them a valuation of $600 million.
And additional additional terms have been added.
If we fail to achieve results, we will give double the shares to Kleiner Perkins Caufield & Byers and Sequoia.
After pondering for a moment, Reed Hastings shook his head slightly.
"Mr. Xu, you want too many shares. We will give you up to 10% of the shares."
The cash in front of him didn't get to his head.
Although Netflix is not yet profitable, the gap is not big.
Eighty million US dollars is enough.
Leaving more original shares will be more conducive to his control of the company, and its future value will be greater.
"Mr. Hastings, if you agree, we can increase the valuation appropriately."
Xu Liang wanted to get more original stocks, but there was no such store after passing this village.
Reed Hastings felt a movement in his heart, but after hesitating for a while, he still shook his head firmly.
He is more willing to choose the long term than the present.
Seeing his persistence, Xu Liang didn’t force it anymore.
The two parties initialed the agreement, and the next step was to perform due diligence.
After leaving Netflix headquarters, the phone in my pocket suddenly rang.
Xu Liang picked it up, looked at it, pressed the answer button, and Jiang Xiaoyang's crisp voice came over.
"You really don't stop anywhere. What's going on with the Stanford University speech?"
"You know?"
"Can you not know? News It was spread all over the world.
There are phrases such as ‘China’s richest man shines at Stanford’, and phrases like ‘The global Internet should learn to listen to the voice of the East’. What’s even more exaggerated is that newspapers in Hong Kong have described you as ‘the greatest godfather of the Internet era’. It’s simply not too high-profile. "
Xu Liang hates the cold, this is too cool.
"And it's not just Hong Kong, Macao and Taiwan, you are also in the limelight in the mainland. Also, congratulations, this time you are in the news again and given fifteen seconds.
So, this time you should be famous around the world.
But I am very curious, how come you, a person who doesn’t like to appear in front of the media, think of giving a speech at Stanford? ”
Xu Liang explained the matter simply and said with a wry smile.
"I also met by chance."
"So that's it. But Xu Liang, I have read the news reports. The four eras and artificial intelligence you mentioned in your speech The division method makes sense. Although there is a lot of criticism around the world, I suggest you write a book directly.
You can either use more detailed data to slap those who doubt you in the face, or you can pass it on. This book establishes its place in the history of the development of the Internet, and even the history of technological development.
By then, you will be more than just a businessman.
He is also a scholar who writes books and has outstanding talents and extraordinary vision.
The influence and status are far beyond that of a simple businessman. ”
Hearing this, Xu Liang was a little moved.
But his family knew about his family affairs, and what he said was just a simple retelling based on the memory of his previous life.
If you want to write a book, you also need a lot of detailed data and convincing cases
He really didn't have much confidence.
"I'll think about it. By the way, how's the fund raising going?"
"Qinglong Fund has been the smoothest. The funds raised so far have exceeded 1.2 billion US dollars. According to the current The development trend is that it can exceed US$1.5 billion before the end of the year.” Although it is announced that the amount of funds raised by Qinglong Fund is US$1 billion, everyone is too enthusiastic, and there is no problem in increasing it appropriately.
“A lot faster than I expected.” Xu Liang said.
"With such a high return on investment, who would miss it as long as they are not stupid?"
After Xu Liang nodded, "Who has invested the most?"
"The one who is long-term."
"Him?"
After Jiang Xiaoyang responded, "I thought Fourth Uncle Li would vote the most, but I didn't expect that he would still fall behind the richest man Li."
"How much money did Lao Li invest?"
"One hundred million US dollars."
"It's indeed a lot." Xu Liang said.
Lao Li has always been a pure businessman.
He has natural agility and is always keenly aware of opportunities to make money and makes heavy bets.
Husky Energy more than ten years ago and the real estate sale more than ten years later are all clear evidence.
However, Lao Li’s bets were all on real industries, and he was a little surprised that he was betting heavily on finance.
"The fund will be closed after raising US$1.5 billion, so there is no need to wait any longer."
"Yes."
"Where is the Xuanwu Fund?" Xu Liang asked.
"Xuanwu Fund is relatively small. It has raised US$270 million so far. Except for some Wall Street institutions, the wealthy people in Xiangjiang only invested a little as a courtesy."
More than half of the ten wealthy people in Xiangjiang made their fortune in real estate. , they have more experience in real estate operations than Xu Liang, and they can invest in the mainland themselves.
So, I don’t care at all about Xuanwu Fund, which focuses on real estate.
In contrast, Wall Street does not look down upon the Mainland, but it is not much better. Instead, it has invested a lot of money in it.
"Xu Liang, Xuanwu Fund probably has little chance in Xiangjiang, so I plan to hold a few investment receptions in China. I believe that your reputation as the richest man can attract a lot of funds."
"You, you know how to plot against me." Xu Liang said with a smile.
“I call this the rational use of resources.”
“If you want to make reasonable use of resources, go to Japan, Singapore and South Korea to open branches. My reputation there is not low. I believe it. We can raise a lot of money.”
“I want to, but I can’t find the right people for now.”
Xu Liang nodded. How much money has Phoenix Fund raised? ”
"In addition to your US$300 million, we raised US$190 million this time."
"It's much better than I expected." Xu Liang said.
“Thanks to the case of Jianlibao, investors gave us confidence.”
The equity of Jianlibao still remains in Hongyan Fund and did not enter Hanhua with the business merger.
But this case has proved Hanhua’s strength in mergers and acquisitions.
"Who are you going to put in charge of the Phoenix Fund?" Xu Liang asked
"How about Zhao Xun?"
"He can't do it. Lao Zhao is more than a man of success, but not enough of a pioneer. The reason why he was appointed in the first place The reason why I serve as the general manager of Xiangjiang Hongyan is that I am responsible for the specific investment, and Sun Zhenping is responsible for the operation.
Phoenix Fund, although we have defined a rough investment scope, the funds are still limited. It is huge, has many investment companies, and requires high business capabilities. He is not suitable."
"Do you have a suitable candidate?"
"Let Liao Yan do it. He has done a good job in acquiring Jianlibao and has experience. He is the most suitable to take charge of Phoenix Fund." Xu Liang said.
Jiang Xiaoyang didn’t object either.
“One more thing, I plan to set up the Jupiter 2 Fund.” Jiang Xiaoyang continued.
Xu Liang agreed.
This is something the two of them have negotiated long ago.
After all, he is not planning to sell the investment of Jupiter No. 1 Fund, whether it is shares of Penguin or Alibaba, in a short time.
And it is not a particularly valuable company, and he is not prepared to invest in it.
So the investment scope of Jupiter 1 Fund is naturally limited.
Hanhua needs a PE fund that can invest in late-stage companies.
“Have you found the right candidate?” Xu Liang asked.
"Yeah."
"Who?"
"'Liu Zhiping,' the chief operating officer of the telecommunications, media and technology industry group of the Asian Investment Banking Department of Goldman Sachs."
Xu Liang heard this Suddenly.
This is the chief strategic investment officer of Penguin in later generations. He is responsible for corporate strategy, investment, mergers and acquisitions and investor relations. He is the second-largest person after Bonima.
Penguin's repeated success in mergers and acquisitions in later generations has a lot to do with Tencent's own investment strategy and this person.
“I do know this person.” Xu Liang said.
After Hongyan Fund established a consulting department, the human resources agency they cooperated with recommended many elites to them, including Liu Zhiping.
“You also know?” Jiang Xiaoyang asked curiously.
"Well. Do you know about the reorganization of Guangdong Group?"
"Isn't this what happened last year? Of course I know." Xu Liang said.
The "Guangdong Reorganization" that started during the Asian financial crisis in 1998 is the largest reorganization case of my country's state-owned enterprises to date.
(End of this chapter)