Rebirth of the Entrepreneurship Era

Xu Yiyang read Boss Ma's business plan at a glance.

He is actually not interested in Boss Ma's current plan.

Because Boss Ma's current plans, at least 10% are unrealistic.

In fact, later generations are too mythical about the local Internet giants who rose from the late 1990s to the early 21st century.

In fact, they really had a very good time at that time.

This golden age has brought them countless advantages, such as little competition, low cost, etc., but for Xu Yiyang, the biggest advantage given to them by the era is actually a very high fault tolerance rate.

Among the rising bosses of that era, everyone made fatal mistakes. However, because of the extremely high fault tolerance rate of the era, they finally survived various crises.

Take Tengxun as an example. In the early stage of development, although the number of users was top-notch, it has been unable to keep up in terms of revenue generation. Later, in order to make money, Mr. Ma even closed QQ for free registration for a period of time, so he had to use QQ coins. Or make a phone call to register, and the cost of registering a number is at least a few dollars.

During that time, although Fujixun earned very little money, it also gave Sina uc and other competitors a chance to catch up.

Fortunately, Mr. Ma realized this mistake in time, and immediately stopped this practice. Since then, software such as QQ and WeChat have never charged users for registration.

Ali's boss Ma made more mistakes in the early stage.

After getting 5 million from Goldman Sachs, he was already a little drifting. He didn't want to quickly consolidate the business in the mainland, but he wanted to go international immediately.

A lot of money was spent to expand to Hong Kong and even to the United States, and as a result, a lot of money was burned for nothing.

Immediately after the Internet bubble burst, Ali burned almost all his money. When he saw that he could not sustain himself, he met Sun Zhengyi. Otherwise, Ali might have been cold at the stage when the Internet bubble burst. Products such as Taobao and Alipay will be hatched.

This is the high fault tolerance rate given to them by that era.

In later generations, the competition in the Internet industry in the country has become fierce to the point of intensification. A company that goes all out for development without making any mistakes may be overtaken or even crushed by competitors because it is not fast enough.

Not to mention those companies that make mistakes, basically as long as they make mistakes, they are dead.

to be honest,

During the period of the rise of Erma, starting a business was playing the lowest-level Tetris, and the falling speed of the cubes was extremely slow, so it didn’t matter even if a few shapes were misplaced, there was definitely a chance to save them.

However, starting a business after a few years or more than ten years is equivalent to playing the most advanced Tetris. The falling speed of the cube is extremely fast. You must concentrate all your energy and use the fastest hand speed to operate every shape. Only in this way can we survive, otherwise, it may be just a single thought, and the whole game will be lost.

But Xu Yiyang didn't bother to comment on Boss Ma's business plan.

What he wants now is to get on the car first, and not to think that the car is broken and slow before buying a ticket.

Buy the ticket first, sit on it, and it's not too late to complain.

So, he waited for half an hour, and replied to Mr. Ma: "So your company is called Ali, no wonder you want this domain name."

"Yeah." Boss Ma said, "I wanted to buy it a long time ago, but the domain name is too expensive."

Xu Yiyang said: "I have read your proposal. To be honest, I am quite optimistic about e-commerce and am interested in investing, but your price of 40 million seems a bit high."

Boss Ma hurriedly said: "I'm telling the truth, 40 million is really the result of a 50% discount. My original idea was to raise funds at a valuation of 10 million US dollars."

Xu Yiyang knew that Boss Ma was not lying.

When he talked with Goldman Sachs, it was indeed a valuation of US$10 million.

But now Goldman Sachs has given up on him.

Entrepreneurial financing is a matter of vigorous efforts, then decline, and exhaustion.

If the opening rhythm is very well controlled, the first round of capital comes in, the project starts immediately and advances quickly, and then the second and third rounds are quickly integrated, then the company's development rhythm will be unfavorable.

On the Internet, there are many companies with a market value of billions or even tens of billions of dollars that have grown from zero to billions of dollars in just a few years.

For example, Toutiao, Pinduoduo, Ruixing Coffee, and Didi Chuxing, their development rhythm is full of momentum and momentum.

But if it is difficult to start, the first round of financing is not in place, and the project cannot be really launched, such a project will not last long under normal circumstances.

It is very likely that after the first round of financing, no more money will be raised, and it is very likely that the first round of financing will not be obtained.

In the blink of an eye, Boss Ma's team has been established for several months. It can be said that the whole project has been advancing at a slow pace, but even so, Boss Ma's savings are almost exhausted.

In 1999, there were not many families who could spend hundreds of thousands of dollars, and Boss Ma can be said to be the best.

But hundreds of thousands are enough to live a life, but it is still a lot worse to start a business.

Cai Chongxin also contacted many international investment banks, but none of them were really interested in investing in Ali.

Even if there is, the valuation given is pitifully low.

Someone is only willing to give them $800,000 and take 50% of their shares, which is almost one-sixth of Goldman Sachs' original offer.

So Boss Ma can only drastically lower his expectations now.

However, Xu Yiyang didn't intend to be considerate of him.

For him now, the lower the cost of getting into the car, the better.

So, he said to Boss Ma: "Well, at a valuation of 20 million, I will vote you 10 million, accounting for 50%!"

Boss Ma was dumbfounded, and blurted out: "The valuation of 20 million is really too low, which is much lower than our original plan. With this little money in our hands, we can't do many things."

Xu Yiyang said: "Let's do it this way, with a valuation of 30 million, I'll invest 15 million, plus the domain name.

Although 15 million RMB is less than 2 million U.S. dollars, which is one-third of Goldman Sachs' 5 million U.S. dollars, but for the current boss Ma, this is already the best he can get. Quoted.

In his view, if he does not get the money quickly, Ali's final result is likely to die prematurely.

Therefore, getting the money quickly and moving the whole project forward quickly is the most important thing right now.

So, he hesitated again and again, discussed with the team again and again, and finally agreed to Xu Yiyang's offer.

Like investing in Fujixun, Xu Yiyang asked him for a priority investment right.

Boss Ma didn't dare to refuse, and there was no need to refuse. The priority investment rights and the anti-dilution regulations are actually similar. If you sign it, you will sign it. Anyway, when financing in the future, the dilution of shares will be dilution for everyone.

However, Boss Ma hopes that Xu Yiyang can transfer 20% of the voting rights to him, which will be used to ensure his absolute dominance in Ali.

In his words, his shares can be lower than 51%, but the voting rights must be higher than 51%.

Xu Yiyang has no objection, anyway, he is just making money by taking a ride, so transferring 20% ​​of the voting rights has no effect on him.

These early-stage entrepreneurial tycoons do not have high requirements for the proportion of shares, but they have very high requirements for control rights. This is true for Boss Ma and President Ma.

After negotiating the details of the investment, Boss Ma asked Xu Yiyang when he could meet and sign the contract. He could come to see Xu Yiyang, or Xu Yiyang could go to Hangzhou to meet him.

However, Xu Yiyang didn't plan to go to Hangzhou to sign a contract with Boss Ma by himself. He was about to go home and the air tickets were all booked. Fang Junhui, a lawyer in Guangzhou, asked him to help him go to Hangzhou to sign a contract with Boss Ma.

It just so happened that he wanted to register a company in Hong Kong, so he asked Fang Junhui to do it for himself.

Since Boss Ma was eager to get financing, Xu Yiyang asked Fang Junhui to help him take a trip to Hangzhou tomorrow morning.

In return, Xu Yiyang promised to pay him 20,000 yuan in lawyer service fees.

Fang Junhui immediately accepted the order and directly booked a flight ticket from Guangzhou to Hangzhou the next morning.

The next day, Fang Junhui took Xu Yiyang's personal information early in the morning and went to Hangzhou to meet Boss Ma.

Boss Ma didn't expect that this mysterious investor made an investment of 15 million, but he didn't even show up, and only sent a lawyer over.

What made him even more unbelievable was that the investor who entrusted a lawyer to sign the agreement with him was named Xu Yiyang. Judging from his ID number, he was only eighteen years old!

This made Boss Ma very excited. How could an 18-year-old kid invest fifteen million in himself?

However, this lawyer is very professional. After he came, he didn't talk nonsense and went straight to the point, sorting out the whole process very clearly.

After everyone had no objection to the contract, Fang Junhui, on behalf of Xu Yiyang, completed the investment agreement with Boss Ma.

In the agreement, Xu Yiyang will invest 15 million yuan in Hangzhou Ali through his personal account, and will also hold 50% of the shares of Ali Cayman's parent company and its wholly-owned subsidiary Hangzhou Ali.

At the same time, Xu Yiyang enjoys the priority investment right in Ali's subsequent financing behavior;

However, Xu Yiyang, as the largest shareholder of Ali, transferred 20% of the voting rights to the second largest shareholder, Boss Ma.

After the agreement was signed, the effective date of the law was subject to the arrival of Xu Yiyang's 15 million cash.

In the afternoon, after the contract was signed, Xu Yiyang was also very straightforward. He went directly to the bank and transferred 15 million RMB to Hangzhou Ali's account.

Subsequently, Xu Yiyang also transferred the domain name from his personal name to Ali's.

After the money arrived, Boss Ma breathed a sigh of relief.

At the most critical moment, Ali finally got the life-saving investment, and Ali finally survived the verge of dying.

Fifteen million yuan is indeed much less than what I wanted at the beginning, but looking at the size of the money alone, it is indeed enough for Ali to develop for a period of time.

After Xu Yiyang transferred the money to Ali's account and the contract came into effect, he called Boss Ma and said to him: "Mr. Ma, since the investment is made in RMB, and the market controls foreign exchange more strictly, according to In my opinion, you should develop your business domestically first, and don’t blindly follow the international route, after all, we have a population of 1.3 billion in China, and the market space is still huge.”

Boss Ma somewhat disagreed.

He wants to hold high and fight high, he wants to go directly to the United States, to Silicon Valley, to go straight to Huanglong, and then toss out his voice in the world's Internet industry!

However, there is no way to disagree.

I don't have dollars in my hand.

I want to go overseas, but I don't have the strength.

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