Chapter 140: One hundred million dollars, Gao Ling follows

The cooperation agreement signed between JD.com and Qingyun disrupted all the venture capital plans, forcing them to temporarily modify them.

However, Zhang Lei has a very aggressive personality. After returning to the temporary meeting room, he directly called Xu Xin of Tomorrow Capital.

The latter listened calmly and called Liu Qiangdong again to express his strong dissatisfaction.

Some even questioned why such a big investment was not notified in advance.

Liu Qiangdong also got angry and responded in front of everyone, "JD.com has a plan for its own development, which was already agreed upon during the financing. Doesn't that mean I am not in charge of JD.com now?
What's more, this is just a preliminary cooperation intention agreement, which will play a vital role in the logistics construction of JD.com!
If you have doubts, I can convince you with real evidence, instead of you rashly questioning and denying me just because you heard a few so-called suggestions from others. "

The latter was speechless for a moment. Could it be that she herself was also studying the Hummingbird model and felt that it had great potential, and was dissatisfied with JD.com for having snatched it up in advance?
I could only apologize repeatedly and said on the phone that I would come back immediately to discuss it.

Soon after, Xiongniu also called to consult, but the tone was very calm, just advising him to be cautious in investing, after all, JD.com belongs to everyone...

“Capital, if used well, can be a boost, but if used poorly, it can backfire!”

Li Zehua was still frightened after seeing this scene!

He attaches more importance to voting rights and does not want to obtain the consent of capital for any decision in the future.

Unfortunately, reality does not allow him to fight alone. His humble origin and lack of background are his biggest sins.

"Fortunately, Chilime didn't have an angel round, otherwise it would have taken three or five rounds of financing before going public, and the controlling stake would have definitely been lost."

He was very thankful, thinking, "It's totally fine after eating. Fengniao Express is fine. I have 1 million B shares, and the cooperation agreement stipulates that one vote is worth ten votes.

Yuantong's 1000 million shares, Yunda's 1100 million shares, plus JD.com's 1210 million shares, are all Class A shares. One vote, one vote, there will be no problem.

In the future, we will also need to invite SF Express to join the market. As for Zhongtong and Shentong, it is impossible to give them so many shares.

These are the affiliated companies that must be won over. If the Hummingbird platform wants to grow rapidly, it must have the help of venture capital funds and connections.

There is always a way to make money! As long as I have the power to make decisions, that's all that matters."

Just as I was thinking about things, Liu Fugen came up with some people. They were from Fangyuan Law Firm, our partner in Yanjing.

"Good morning, Mr. Li! We are from Yanjing Tianyue Law Firm. My last name is Wang, Wang Yue, three horizontal lines and one vertical line, which means Yue means happy mood.

He is the co-founder of the law firm and a director of the Yanjing Law Firms Association.

The middle-aged man in the lead was very polite and immediately handed him the signed memorandum of cooperation, equity investment agreement and other documents.

Li Zehua took it and invited everyone to the conference room for discussion. Before entering, Liu Qiangdong whispered,
"I think you are also a decisive person. Some things should be done decisively and cannot be delayed."

Li Zehua was stunned. He nodded and gestured to the venture capitalists in the two meeting rooms next to him.

Then I thought about what he said on the phone just now.

Understand in seconds!

He immediately said hello to the legal team and turned into the meeting room next door.

Temasek's Lim Boon Hwee was on the phone with senior management, while everyone else was busy analyzing the impact of the powerful combination.

The door was suddenly pushed open.

"You~"

Someone at the door reacted quickly, thinking it was a competitor trying to peek.

When he saw it was Li Zehua, he was stunned for a moment.

Zhu Xiaolong raised his head and stood up. "Mr. Li, what are you doing?"

Li Zehua said, "I came here to apologize. I hope you don't take it personally. After all, reaching a strategic cooperation with JD.com is crucial to the future of the Fengniao platform.

Besides, this is also good for your company. The more stable Hummingbird's foundation is, the safer your investment will be, right?"

Before speaking, he did not forget to close the door.

Lin Wenhui pinched his nose, gave a warning to the person on the other end of the phone, turned on the speakerphone, and then spoke slowly.
"Mr. Li, this time we were too impatient and did not sign the investment quiet period agreement in advance.

But your move was beyond our expectations, it was so fast that we were caught off guard."

“Doesn’t that just prove that the Hummingbird Model is in line with everyone’s consensus on the positive outlook for the market?

JD.com is such a large company that its decisions must have been made after careful and collective consideration.

In just one hour, Hummingbird was able to reach a strategic cooperation with JD.com.

This just shows that your company's investment in Hummingbird is not wrong, and maybe it will become a good story in the future."

Zhu Xiaolong opened his mouth wide and couldn't calm down for a long time. He had witnessed how powerful Li Zehua's mouth was.

Just outrageous.

It was obvious that the venture capitalists accused him of being unreliable and raising prices, but he turned the tables and brainwashed himself.

However, today it was Temasek who took the lead. He did not say anything and handed the stage to Lim Boon Hui.

The latter looked helpless and smiled bitterly, "Mr. Li's quick thinking is admirable. It is indeed true that when we do venture capital, the more people are optimistic about it, the greater the possibility of success of the project.

Since we are all sensible people, let's just be frank and speak frankly.

We at Temasek are very optimistic about this project. I wonder what conditions we should offer to get Mr. Li on this trip? "

Venture capital is not what people think it is, always high and mighty.

Sometimes, for the sake of good projects, they are willing to lower their heads and let entrepreneurs set the price, just for a chance to get on board.

At this point, the offense and defense often switch positions, such as the sharing economy, Internet finance, insurance, and payment systems in history.

Although Chizume Fengniao has not yet completely monopolized the market, it has the potential to have a monopoly, which is enough to make venture capitalists look at it differently.

Li Zehua asked back, "That depends on how sincere your company is. Please don't mention more than 10 million or a few dozen points. That will only waste everyone's time."

Lin Wenhui said without hesitation, "20 million US dollars, 15% of the pre-investment shares; million US dollars, % of Hummingbird shares.

how is it? "

Wow, if it is based on this price, Chichume will be worth $1.25, and together with Hummingbird, the valuation will reach nearly $ million.

After the financing, Li Zehua's personal shareholding in Chimei still accounts for more than 80%, and this share alone is worth US$1 million.

I have to say that this is the charm of capital operation. It is simple and crude to just spend money, which makes people excited instantly.

If it were an ordinary person, he would have agreed eagerly.

Unfortunately, Li Zehua chose to refuse. "10 million US dollars, 12% of the shares of Chimei, and a bet agreement. This year, Chimei will achieve a revenue of 10 billion yuan and the loss will be controlled within %.

In 2010, Chichume’s annual revenue reached 36 billion, and in 2011 it reached 90 billion, and its loss margin also remained within 10%.

Done, do it at this price.

If you can’t complete it, I will give your company 5% of the shares as compensation.”

At this moment, he exuded infinite confidence, unconsciously infecting everyone present.

Unfortunately, the difference between the numbers given was too big, and Lin Wenhui shook his head decisively, "In principle, the company will not agree to this price.

Even if the bet is completed as expected, it is still too exaggerated. This is only the first round of financing. "

Zhu Xiaolong was on the side, asking his colleagues to calculate quickly.

The result came out quickly: this investment and shareholding ratio were outrageous!

If Lin Wenhui had not been present, he would have chosen to argue directly, belittling the company on every level, from the total number of customers to the revenue losses.

"33 users, 3500% of $10 million, doesn't that mean each user is worth nearly $?"

After just a rough calculation, I was stunned for a moment.

"And what about Hummingbird? Shouldn't we invest in these two companies together?"

Li Zehua was very calm, "Hummingbird only accepts allies who can bring help. The express delivery company is the key to Hummingbird's success. Money alone is meaningless.

To put it bluntly, once the Hummingbird platform is built, how much money I can make depends on my desire, not my ability. "

Lin Wenhui immediately retorted, "Mr. Li is really calculating. He will use the investment to recruit people like crazy, and then give back to Hummingbird as part-time workers. This is killing two birds with one stone.

We also made it clear that both companies must invest together, and neither can be missing."

"That's fine! Eat 3500 million for 10%, Hummingbird 2500 million for 10%. Take the money, I'll sign and seal it right away."

This number is not random, but is based on JD.com's financing price.

Even if we put aside the impact of the 08 financial crisis, JD.com, whose annual revenue exceeded 2100 billion, still received US$ million in financing.

The shares given are only about 20% to 30%.

Without relying on venture capital, Chizuome Fengniao can achieve this revenue throughout the year. This is a prerequisite. After negotiations, the venture capital expressed its approval, so the investment was calculated based on this estimated revenue scale.

But the biggest difference between Chimei and JD.com is that JD.com is a follower in the online shopping market. With the giant Taotao in front of it, Taotao Mall has a greater advantage no matter how you look at it.

In the food delivery and express delivery industry, Chimizu and Fengniao are currently in an absolute leading position, without even a decent competitor.

Even without external investment, he is confident that the revenue in September will exceed 100 million yuan, and the annual revenue will definitely exceed 700 to 800 million yuan.

Why would a company that has no competitors, has a bright future, has a solid foundation due to its special business model and is not afraid of competition sell its shares at a low price?
Originally, he didn't quite understand what his greatest advantage was, but after a series of exchanges with venture capital and JD.com.

suddenly see the light!
With the Hummingbird model, Zhemo is not afraid of any rivals in the current market. Even if the Ali Group takes action, Zhemo's leading position cannot be shaken in the short term. Tengda, Qiandu?
Just forget about it. Give the latter two or three years and forget about making achievements in the food delivery industry.

Because historically, Meituan’s attack on Fanjisong focused on competing in the campus market!
Qiandu Waimai took the opportunity to break through in the commercial district, but now ChiMei has started to act in advance, and by the time the latter enters the market, there will be no soup to drink.

Fengniao and JD.com have reached a cooperation to stabilize the basic express delivery market, and at worst can become the number one in urban logistics.

With the dual advantages of Mejia Hummingbird, the two companies work part-time and support each other, and the chemical reaction produced is far greater than one plus one.

He just lacks time to settle down. Once this year is over, when he has completed the construction of the personnel team and the establishment of the Internet platform, the food delivery business will develop rapidly.

By then, it will be no problem to achieve 300 to 400 million per month.

There is no need to worry in the short term either. Once the business development in ten cities is completed, the number of users of the ChiMei website will surely exceed one million.

Based on the valuation of high-value Internet users, revenue scale, and market share, it is not a problem to make a valuation of dozens or hundreds of times.

By then, Qingyun will have at least 20,000 to 30,000 employees, and team building will begin to show results.

Looking across the country, he is not afraid of any enemy.

Lin Wenhui also tried to lower the price, "Mr. Li, our valuation calculations are all calculated through the most scientific and authoritative models, which are..."

It's a pity that Li Zehua didn't give him a chance. "Made and Fengniao are not short of money."

I don't lack money, and I don't care whether you invest in my enemies or not. Since you are not afraid of commercial competition, there is nothing else to talk about.

It's you who are begging me to invest, not me who needs venture capital money to save my life!
If you don't take the opportunity to ask for a high price, you will be letting down your hard work.

Thinking of this, he reached out and shook hands with Zhu Xiaolong, "I hope we can have a chance to work together again next time."

As he turned around and was about to leave, Lin Renjie was quick to grab him and said, "Let's talk it over. Mr. Li, there's no need to be so anxious, right?"

He stretched out his hand only after seeing Lin Wenhui gesturing at him in shock.

Li Zehua was helpless, "But the conditions you proposed are too far from the price I had in mind.

Yuantong Yunda obtained a relatively favorable price by investing in the company through the city’s express delivery resources.

The same is true for JD.com.

Mr. Zhu, you don’t need to explain, because I am very sure that within a few months at most, Chizumo will be able to achieve this valuation, so why can’t I wait a little longer? "

In addition to the fear of losing all the money, venture capitalists are even more afraid of missing out on industry monopolists. It is even more tragic to have money but not be able to invest it.

At this moment, Lin Wenhui was in a dilemma until a voice rang out on his cell phone, which had not been turned off.
"Each of them will bet 5 million US dollars, and they will add another % of their shares to sign a bet agreement."

He suddenly woke up from his dream and did not hang up the call with the headquarters. Everyone in the Lijiaopo conference room was listening.

He quickly picked up his phone and winked at Zhu Xiaolong while speaking.

The latter understood and quickly asked Li Zehua to sit down. "Mr. Li, I have been doing venture capital for so many years, but this is the first time I see you so anxious."

"Really? There are always exceptions."

Li Zehua smiled confidently, "Which entrepreneur doesn't want his or her company to be treated differently?
Facts speak louder than words. If it weren't for the special nature of what you ate, you wouldn't be here at the same time."

Zhu Xiaolong couldn't help but smile bitterly, "Indeed."

Subconsciously taking a look at Lin Wenhui who was on the phone, he couldn't help but say, "I really don't understand your entrepreneurial model.

Just in May, I was in Shanghai, participating in the venture capital competition of Fanjisong. I talked with its entrepreneurial team at that time, and I just felt that there was a possibility that a market worth tens of billions would emerge.

But in the blink of an eye, Mr. Li came up with such a mature business plan and achieved such great results, which is really shocking. "

"Practice makes perfect. To be honest, I didn't know that food delivery and express delivery, walking on two legs together, could bring such great advantages..."

Li Zehua was just speaking when suddenly the door of the conference room was violently pushed open again!

Zhang Lei strode in, glanced around and saw Li Zehua, then his gloomy expression eased a little.

"Mr. Zhang, what are you doing?"

Zhu Xiaolong tried to stop him subconsciously, but Zhang Lei insisted on squeezing in. He said confidently, "Mr. Li, no matter how much Temasek pays, we at Gaoling Capital will follow!"

As soon as this statement came out, the whole audience was shocked.

Is there a more fierce one?!

Little did people know that Zhang Lei next door was also not idle. He had a full exchange of information with the investors behind him.

They contacted Yuantong Yunda for confirmation. Although they did not get the complete information when they invested, the approximate price could not be concealed.

Judging from this basis, the valuation of the Hummingbird platform alone is more than 3 million RMB, which is at least twice as much.

In addition, Chimo's future monopoly plan has a high chance of success, because it is unlikely that competitors of the same size will appear in the market.

The only possible candidate, Ali, is JD.com’s biggest competitor, and Gaoling is seeking to invest in JD.com. Isn’t this a coincidence?

JD Logistics, with the support of the Hummingbird Express platform, is simply even more powerful!
Who is Zhang Lei?

A man who was able to keenly realize the importance of traffic when Tenda was confused about its main business revenue being unsatisfactory and unable to find traffic monetization channels after its listing.

Half a year later, JD.com's Liu Qiangdong approached him for financing, only asking for 7500 million US dollars, but he directly invested 3 million US dollars.

Zhang Lei stared at Li Zehua's eyes, thinking to himself that he was lucky, if Xu Xin hadn't called him to inform him.

There is a high possibility that he will miss this opportunity. Who knows whether Temasek will choose to take a gamble?
Fortunately, it seems that the two parties have not signed a cooperation agreement yet, so he still has a chance.

Li Zehua was helpless, but he couldn't refuse at the moment, so he said directly, "The price I offered to Temasek is 3500 million US dollars for 10% of the shares. Do you want to follow suit, Mr. Zhang?"

“It’s $2500 million, 15% of the post-investment shares, and there is a bet agreement.”

Zhu Xiaolong added that he didn't dare let Zhang Lei ask for the price randomly, otherwise the price would go up to the sky.

"Gao Ling answered!"

Under the shocked gaze of everyone, Zhang Lei agreed without hesitation.

For a moment, even Li Zehua didn't react. What was this doing?

In just over an hour, Gaoling Capital increased its stake from 20 million at 2500% to 15 million at %?

What's going on here?
But before he could say anything, Lin Wenhui, who had put down the phone, said, "Have you invested 3000% of the 15 million US dollars in Hummingbird? And 2000% of the 15 million US dollars in Hummingbird!
Add another 5000 million US dollars to the bet. As long as Mr. Li agrees, Temasek will immediately arrange for the signing of the contract and pay the first payment within three days!"

Just when everyone was stunned and thought they were hallucinating~
"Follow Gao Ling!"

Zhang Lei broke the silence with just one sentence.

Zhu Xiaolong's scalp almost numbed. What?
It simply refreshed his worldview!!!
What's going on? How about playing?
Treat money like it’s not worth spending?

He was dizzy, and the others were even more dizzy.

Little did Lin Wenhui know that he was being remotely controlled by Temasek headquarters, where an entire business analysis team was conducting intensive calculations.

The question is, have you eaten it? Can you fulfill your promise and occupy an absolute dominant share of the entire mainland market?

If possible, I would follow you no matter how much it costs!
This is not just an economic issue!
As for Zhang Lei’s investment logic, it is even simpler!
E-commerce and online shopping will be Gaoling Capital’s next investment focus. Having already missed out on Ali, they cannot afford to miss out on JD.com.

JD.com is the company he is most optimistic about. Putting aside the development of ChiMei itself, the fact that it can empower JD.com's logistics is enough for him to invest.

Not to mention that through continuous analysis, we have come to a conclusion that whether it is the ChiMei takeout itself or the Hummingbird express delivery platform.

Its future ceiling is no less than the existence of JD.com itself. The business plan revealed by Li Zehua even implicitly involves monopolizing the entire industry.

Even if it fails, its special moat theory and the business logic tied to food delivery and express delivery can still occupy an important position in the industry.

Guaranteed profit without loss!
How can one not be moved?

In addition to Mingri and Xiongniu Capital's instigation, they proposed that Gaoling Capital come forward to sign a cooperation agreement, and the three companies would contribute together to win the deal.

Li Zehua suppressed his inner surprise and remained calm, "Are you sure?"

After getting the definite answer, he was a little overwhelmed. Being confident in oneself is one thing, but it is difficult to truly get the recognition of others, especially venture capitalists.

It's another story.

Being respected and recognized, I feel a sense of satisfaction and accomplishment that is beyond words.

Lin Wenhui didn't want to continue to worry about it. Whether it was 30 million or 40 million, it made no difference to Temasek.

In order to avoid any more trouble, he asked someone to draft a cooperation agreement, but unfortunately, Li Zehua changed a few numbers...

"The total amount is US$3000 million, of which US$10 million accounts for % of Chichimo's pre-investment share.

US$2000 million, representing 10% of Hummingbird’s shares.

The content of the bet is that in 2009, the operating income of Mejia Fengniao exceeded 12 billion yuan...

The company achieved a revenue of 2010 billion yuan in 36. If the above target is not met, Mr. Li Zehua, the actual controller of the company, will provide an additional 10% of the shares as compensation...

If the set target is achieved in 2009-2010, Temasek will add a cumulative investment of US$6 million within a six-quarter cycle, requiring an additional 5000% stake in the two companies...

And obtain the priority lead investment right in the second round! "

Zhang Lei leaned close to Li Zehua, took a look, and said expressionlessly, "Follow Gao Ling!"

(End of this chapter)