My Age of Investment

the next day.

After Xia Jingxing took Andrew and two employees to have a breakfast of fried dough sticks, he went to Frame Media and Tudou for a while, and introduced Andrew and his group to the two companies.

He chatted a few words with Tan Zhi, Wang Wei and others, and entrusted the follow-up docking work to Andrew.

Then, in the afternoon, he, Liu Hai and Zhang Chenguang returned to San Francisco by plane.

The first stop did not go to Facebook, but to Envision Capital.

"The 1,218,800 Sina shares held have all been sold, with an average buying price of US$18.05 per share and an average selling price of US$31.3 per share, resulting in a profit of US$16.1491 million.

After deducting transaction fees, interest, etc., the final profit is about 16 million US dollars, and the specific figures are still being calculated. "

In the conference room of Vision Capital, an employee stood and reported the results to Xia Jingxing and Liu Hai.

Liu Hai smiled, "Jing Xing, this is four million dollars more than our estimated profit."

Xia Jingxing nodded and was quite satisfied with this profit result.

"Actually, Sina stock has been trading very actively recently, the turnover rate is very high, and the buying orders in the market are terrifyingly large. I guess there are big institutions entering the market or planning some major events.

If we hold it for a longer period of time, the share price could be even higher. "

Employees may have the courage to speak their minds in order to earn performance.

Liu Hai was a little displeased and was about to reprimand, but was stopped by Xia Jingxing.

Xia Jingxing looked at the young white employee in his twenties with a few freckles on his nose, smiled and said, "Don't say "if", if you have any ideas, you can write an analysis and give it to William Liu. "

The freckled boy nodded and left the office.

"Jing Xing, I made you laugh."

Xia Jingxing waved his hand, "Don't confine their thoughts, we are a young hedge fund, and our thoughts should be more dynamic.

This time, I happened to discover the little secret between Shanda and Sina. It is impossible to count on such good luck every time.

In the final analysis,

If you want to make money in the long term, you have to improve the level of fund employees.

How to improve it? You have to think more. "

Liu Hai nodded. He was also the first time a big girl got on the sedan chair, and he was still groping for many things.

Xia Jingxing and Liu Hai discussed the company's future development plan for a while, and then asked Liu Hai to find a computer and check the stock price of Amic.

It has been a long time since Amyco has risen sharply, and the stock price has been around the price of more than 40 US dollars, fluctuating slightly up and down.

He still has the last 240,000 shares in his account. Based on the current share price, the market value of the position is more than 11 million US dollars.

The Ganji.com has been dragging on, and the investment fund of $400,000 has never been called to Yang Haoyong. The other party has called and urged him many times, from last year to this year.

It's not that he doesn't want to give it, but he wants to wait for the stock price to rise.

In addition, during a trip back to China, he also signed two investment agreements of 1 million US dollars from Tudou and 50 million yuan from Framework Media.

He looked at the exchange rate and calculated it carefully. It was 50 million RMB, which is equivalent to the current US$6.04 million.

The three orders add up to a total of $7.44 million in equity investment.

In the next few days, Xia Jingxing sold 160,000 shares at an average price of $46.88 per share, and returned more than $7.5 million in funds.

He injected another $7.5 million into the Lichun Fund, raising the fund's size under management to $27.5 million.

…………

…………

Beijing.

Xueyuan Building, Tsinghua Science and Technology Park.

In a small office less than 100 square meters, Yang Haoyong, with messy hair and a stubble face, was eating instant noodles while chatting with several young employees with messy hair and the same sloppy hair as him.

"...Classified information advertising website, in China, we Ganji.com was the first to propose this concept."

Seeing the exhaustion on the faces of several employees, Yang Haoyong encouraged, "Everyone, hold on, we won't eat instant noodles when the website is officially launched, and I invite everyone to eat Donglaishun."

Several employees with green faces who should have just stepped out of the campus smiled shyly.

One of them asked, "By the way, boss, you said that Mr. Xia Jingxing, the CEO of Facebook, invested us $400,000. Is this financing in place?"

When the others heard this, they all turned their attention to Yang Haoyong.

When they were interviewing, they heard Yang Haoyong's introduction: he used to be the head of Facebook's network security department, and Ganji.com also received an angel investment of 3.3 million yuan from Facebook CEO Xia Jingxing, with a valuation of more than 13 million yuan...

Anyway, it sounds very tall, Silicon Valley business elites returned to China to start businesses and received huge angel investment from business leaders.

In this way, they were attracted by Yang Haoyong's beautiful blueprint and joined the Ganji.com.

With the dream of ringing the bell for listing, they and Yang Haoyong worked overtime day and night, looking forward to making the website as soon as possible.

Slowly, some people came to think about it, assuming that the company has really received several million investment, and is still crammed into this 70-square-meter office?

The only benefit of working overtime is instant noodles? Not even a ham?

Other employees also wanted to ask their bosses about financing, so they started booing.

"Yes, yes, I read on the Internet that Facebook's valuation is 2 billion, or 3 billion US dollars, which is higher than the value of many Chinese stocks."

"That's really rich, invest a few million for us, isn't it drizzle?"

...

Yang Haoyong was a little overwhelmed by the staff's question, and his face sank all of a sudden.

He returned to Beijing at the end of December, and it took only one week to complete the company registration, renting an office, and recruiting employees.

Then he put all his energy into the development of the website.

Two months passed in a flash, and Xia Jingxing's investment was still not in place.

He made several calls to Xia Jingxing, but the other party always shied away from "wait again".

After waiting so long, he almost lost his patience.

He suspects that he has been bounced, because this is also a very common thing in the investment circle.

After signing the Term Sheet (investment letter of intent), it does not mean that you can sit back and relax.

To make money, or not to make money, depends entirely on the investor's heart.

TS is legally defined as a reservation contract, which belongs to the category of contracts, but except for the mandatory and binding contents such as exclusivity and confidentiality obligations, other agreements in TS are not legally binding on investors.

That is to say, even if the signing of the TS is completed, the investor has no legal obligation to invest in the startup company.

If Envision Capital didn't make money, Yang Haoyong would have nothing to do with them either.

However, there is a time limit in TS. After signing the contract for more than three months, Envision Capital has not made any money, and Ganji.com can go to find new investors.

However, within three months, it must be exclusive and cannot contact other investment institutions.

Yang Haoyong thought for a while. Now that the financing has not been in place, the employees' morale has been shaken, and they must calm down their hearts.

So he squeezed out a smile and said with a smile: "Funding will be officially in place next month. Due to foreign exchange controls, U.S. dollar investment cannot directly enter the mainland, and some tedious operations are required..."

The employees immediately fainted when they heard a series of obscure professional terms such as "offshore fund", "Irish sandwich", "Virgin Islands", "VIE structure", "Hong Kong shell company" and so on.

Although I don't understand it, I think it's amazing.

When they saw Yang Haoyong's smooth introduction, they did not doubt that he was there, and they all chose to believe it.

Just wait another month and the hard days will be over.

Thinking of this, the instant noodles in my hand tasted even more delicious.

Yang Haoyong forced a smile on his face, but his heart was actually bitter.

He had prepared for the worst, if Vision Capital gave up the investment, then he would use his own $100,000 to support it.

He made a budget: 100,000 US dollars is converted into about 800,000 yuan, the monthly rent and market cost are 30,000 yuan, 10 employees, and the average monthly salary is 2,000 yuan.

You have to spend 50,000 yuan a month, so you can last for 16 months. If you can't attract investment by then, the game will be over.

Sixteen months, nearly a year and a half, is not too short, and he believes that things will soon usher in a turning point.

Not only to encourage employees, Yang Haoyong also cheered for himself in his heart.

After eating instant noodles, Yang Haoyong and the employees continued to work overtime.

In the middle of the night, everyone was sleepy, and a few employees yawned.

A rush of phone ringing broke the silence of the office.

Yang Haoyong was concentrating on programming and picked up the phone on the desk.

"Haoyong, haven't you rested yet?"

Hearing the familiar voice on the other end of the phone, Yang Haoyong hurriedly took the phone to him and confirmed his name.

Calling myself so late, could it be...

Suppressing his inner ecstasy, Yang Haoyong pretended to be calm and said, "Not yet, I just finished eating instant noodles and I am working overtime with the staff. The website will be launched next month."

Xia Jingxing smiled, is this crying for himself? It is also specially stated that the website will be launched soon.

"Arrange the financial connection, and I will send you the money tomorrow."

This sentence was heard by Yang Haoyong like the sound of heaven.

He finally understood why it was called "angel investment", because when it appeared at this time, it was really like an angel, bringing hope and light to startups.

"Okay, I'll arrange it right away."

After hanging up the phone, Yang Haoyong jumped up from his seat, waved his fists, and yelled, "Brothers, financing is here!"

This was a terrible time, and the employees followed behind, crying and howling, expressing their happiness and venting the huge pressure brought by the continuous overtime these days.

"Bang bang bang~"

A middle-aged uncle in a security uniform knocked on the door a few times, attracting all eyes in the room.

"Who are you the boss of the company? What time is it, why don't the employees get off work?

Hey, I was thinking, capitalists don't bring such exploitation of labor, right? How many people have to die suddenly to know how powerful the labor law is?

Don't be stuck here, get off work quickly, the building is going to be locked! "

The uncle of the security spoke in a Beijing accent, and his voice was very loud.

Several young employees of Ganji.com were very uncomfortable and scolded: "We work overtime, we are happy, who is in the way?"

"Hey, young man, you don't know good people."

Seeing that there was going to be a conflict, Yang Haoyong hurriedly stopped and said, "Everyone, get off work, tomorrow will take a day off together, and Donglaishun will celebrate!"

The security uncle shook his head and left, only to hear bursts of joy from behind.

In this world, people's hearts are not ancient!

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