Qing Yun was happy when he heard this, "Old Xiong, compare me with these two gods, I think you are too flattering to me."< /p>
In 2003, Cheng Tianqiao was already a god. In any case, this figure with mixed reviews is synonymous with the game.
In 2003, Mr. Ren was already a god, and his position at the top of the top 100 industrial companies was already indestructible.
The male pigeon suppressed his smile, stared at the young man in front of him expressionlessly, and slowly spoke, "Don't be humble. In my opinion, in terms of strategic planning, you are better than They."
Waving his hands, the male pigeon clasped his fingers seriously, "Needless to say, Cheng Tianqiao's success. The family entertainment center he is building now, in my opinion, is also a future development. direction. But"
At this point, he sneered, "But Cheng Tianqiao doesn't know what to do. You can see from his actions at the moment that although he is loud, he is in his heart. At a loss."
Clicking down his second finger, the male pigeon continued, "Mr. Ren is actually the same.
He has built a great company, a good company. Just like soil, it can always produce good management paradigms, continue to produce excellent talents, leading technologies, and excellent products. Even exotic species can thrive on this land.
Hua Wei’s projects have always been hatched. No one knows what they will be before they come out.”
After that, he raised his finger in the air and tapped Qing Yun out of thin air. , "But you are different."
The male pigeon paused for a moment, and then laughed, "Boy, has anyone ever told you that your movements are not focused or that the things you are tossing about are different from There are too many directions."
Qing Yun smiled bitterly, "I have heard it several times recently."
The old principal said, Shi Guangyong said, the Qin family's four. His brothers also taught him a lesson on the phone, and even Qin Manman and Chen Yue advised him.
The male pigeon sneered, "That's because they don't understand you."
"You understand" Emperor Yun became interested.
The male pigeon nodded proudly, "I have carefully analyzed your behavior pattern in the past few months. You always have a big framework in your mind. All your business actions are based on This framework is constantly filling.
I can use a position in the software industry to describe you, chief architect."
Qing Yun laughed.
This is Su Caiwei’s position.
“What you do seems to be very scattered, but in fact it is very focused. You are always planning around what you call the Internet of Everything. There is no softness to stand, no hardness to be stable, and the rest of your The whole thing is to save money for all this."
The male pigeon picked up the wine glass and clinked it with his, "How about it, I know you best, I will be your partner. I will be responsible for people and capital matters, and you can focus on business layout.. "
Qing Yun was silent for a while, picked up the cup and touched it with him, but then said, "I like to eat alone. "
The male pigeon gave him a funny look and said, "I don't want to take what you have for free, but I can exchange it. There should be something you want in idg's huge investment. "
Qing Yun raised his eyebrows, "For example"
Xiong Xiaoge took out his cigar bag and smoked a pipe to him, "Kingdee's shares, the major shareholder of the listed company How about exchanging 20% of the equity in your mobile phone business
The financial machine and the tax control machine are a perfect match. Instead of trying to build one yourself, it is better to buy a ready-made one and modify it.
After all, Kingdee has been operating stably for so many years, which is very promising. Moreover, you are equivalent to directly acquiring the original Kingdee customers and directly occupying half of the entire market.
As long as the reputation of the financial machine and tax control machine rises, you will have priority for other machine replacement needs of this company. ”
When Qing Yun heard this, he clasped his hands and put his index fingers on the wings of his nose and kneaded them up and down, then closed his eyes and thought about it.
The male and the little pigeon did not rush him, and were minding their own business. The gray cigar.
After a while, Qing Yun said with a wry smile, "It seems that my company is also a sieve. ”
Just now he was not thinking about gains and losses, but thinking about whether the information would be leaked.
Financial software, he only talked to Zhou when he first came to Huating. Yan, Fangyuan and others discussed it once, and they did so after avoiding the few employees who had resigned. Since then, they have never mentioned it to anyone else. Within the company, his project team has never set up one.
How did the male pigeon know?
Needless to say, there must have been a leaker among Zhou Yan and the others that day.
Qing Yun sighed. /p>
He fought this battle with all his strength by turning Song Ruhua's inside into a sieve. It was really ironic that someone else was playing such a trick
The male pigeon laughed when he saw this. He said, "That's not the case. Your team is quite loyal to you. I did buy a lot of information from Yanhuang's internal employees, but this core direction has not been leaked at all by your employees, including the top management. . ”
The three small staff, cashier, accountant, and administration include front desk, driver and other inconspicuous positions in the company, but they are crucial. Especially administrative staff, responsible for document management, meeting organization, employee Attendance, office supplies procurement, etc., their work involves all aspects of the company and is an indispensable part of the company's operations.
However, this type of personnel does not have any professional barriers, and they can be replaced casually. It can be done, so it is generally not taken seriously, so it can be bought with a few commemorative coins, a meal or two, two bottles of wine and a few cigarettes.
In this way, big information will not be leaked. But small information, such as where the chairman is, where he went on a business trip, who he brought with him, and what the chairman has focused on recently can be gathered in just one sentence.
As for higher-level intelligence, such as company documents, meeting minutes, etc., it costs thousands or tens of thousands of yuan. If you can’t get it, you will pay more.
No company can avoid this situation.
But what makes the cock and little pigeon more depressed is that small information is indeed easy to obtain, but when it comes to more important issues, it is not so easy to obtain.
Among the three small staff, the only one he can penetrate is the financial line.
The Yanhuang Group’s administrative lines are completely incomprehensible.
The main position is Qing Yun's own woman, and the deputy position is Qing Yun's uncle. She is also the top rich second generation in China, and her subordinates manage her very strictly.
Finance is about actions in operations and reflection in finances, but this is an after-the-fact reaction and not timely. He can only analyze what Qing Yun has done in the past period of time. , and there is no way to know what Qing Yun is planning to do in the near future and in the future.
The brat in front of me seems to be born with a distrust of anyone, and the office system originally built by the group for military industrial enterprises has been directly used in the company. Copying of company information is prohibited, and internal and external network permissions are set. It is seamless. Under paperless office conditions, if the three small staff want to obtain important documents, meeting minutes, etc., their permissions are simply not enough. If any unrelated personnel want to check it, the background will directly call the police.
This forced Xiong Xiaoge to focus on mining primary data. To be honest, this was the most difficult enterprise he had ever encountered in collecting intelligence in his life.
"I analyzed it from your recruitment needs. You have recruited many people with financial-related software development experience."
Xiong Xiaoge's words made Qing Yun I feel so uncomfortable.
What the hell
Can he say that the male pigeon was hit by accident?
He did recruit a lot of relevant personnel, but what the hell It's all for the Guanjiapo software project, not a professional financial software project.
He plans to continue the financial software project after completing the Guanjiapo software, and he is indeed planning to launch extended mergers and acquisitions in the financial software industry to shorten the time.
The target is the new Zhongda University that Zhou Yan and the others proposed before.
Although Xinzhongda has a very low market share in the entire financial software field and prefers engineering finance, under the general trend in the next few years, he believes that this area will be the mainstream of development.
Some markets are red oceans, and some markets are blue oceans. It is self-evident which one is better than acquiring a large enterprise in the red ocean or acquiring a small and medium-sized enterprise in the blue ocean.
“Kingdee is too big. All I want is a team, not a company with thousands of people, which is very detrimental to my integration.”
At this point, Qing Yun's mind was very clear, and both Qin Tianchuan and Shi Yuzhu warned him again and again in this regard.
After saying that, he shook his head and said, "Stop testing me, Lao Xiong. Frankly speaking, what are you going to bring out?", I won’t even change it.
Reason Since you understand me, you should know that at this stage, I will not open the equity of Yanhuang Group to anyone. "
Hearing this, the male pigeon could only shrug his shoulders.
Well, Yang Xu was right.
This kid has a clear mind. It's scary. At this stage, he must ensure his absolute authority and absolute control over the company.
Xiong Xiaoge sighed and started gossiping, "Business is hard to do these days. ”
This is not that he is moaning for nothing.
idg Capital has indeed invested in almost all high-tech companies in China and has a stake in them. Behind all well-known companies, there are There are idg capital companies.
However, there are many failed investment projects. According to the style of idg capital’s A-round e-investment, success will naturally make a lot of money, hundreds or thousands of times the profit, but Failure will also result in complete investment failure.
Equity fund investment is basically a combination of winning rate and using profits to cover losses. There is nothing to say. With the endorsement of the Ministry of Science and Technology, there will be no outstanding companies in idg Capital. Since they cannot invest in unicorn companies, they are naturally not too worried about performance issues.
But Qing Yun knows that idg Capital has indeed encountered difficulties at this stage.
A fund usually adopts the 322 form. The first three-year investment period and the two-year exit period are counted as the operation period. The second two years means the two-year exit period.
idg Capital 1998. Entering China, 2003 was the time when the exit period and extension intersected.
In 2003, not only was China’s secondary capital market underperforming, the entire world was also in the midst of the Internet. During the repair period after the bubble burst, coupled with the impact of the global cold, the companies invested by idg are either in the strategic stage of waiting for listing, or the valuation after listing is not high
Although Nasdaq emerged in 2003. A beautiful market with an annualized increase of 497, but the increase was based on repairs after the bubble burst. The market performance of the Nasdaq for three consecutive years in 2000 and 2002 was 361, 334, and 374. The bottom was too low. The increase of nearly 50 that year was still a small base. , less than 40% of the peak in 2000.
So, the performance of idg Capital’s first fund in China at this time can hardly be called outstanding.
The historical performance directly affects the subsequent fund-raising, which makes Xiong Xiaoge very depressed.
"Old Xiong, do you think it is possible for me to save an S fund?"
S Fund, the full name is sedaryfund, which is a second-hand share transfer fund, also known as relay fund.
It mainly invests in the secondary market of private equity, which is mainly involved in the secondary trading market of private equity. Transfer of shares to a private equity investment fund In private equity investment, an S fund is a type of private equity investment fund that specializes in acquiring the shares they hold from investors.A share of the gold and then reinvested in the instrument.
Traditional private equity investments usually exit through io, mergers and acquisitions or bankruptcy liquidation. However, these methods have their own limitations. The emergence of S funds provides investors with a new exit method, allowing them to manage their investments more flexibly.
Business comes from talking.
Many times, many things just happen when everyone gets together and plays with the Dragon Gate Formation in an imaginative way, and things are done in a flash of sparks.
"I think you are drinking my blood." The male pigeon raised his middle finger.
Qing Yun smiled. He remembered clearly all the Internet companies that would be familiar to future generations, including Tencent, Baidu, Sohu, Soufang, Yixin, Xiaomi, Ctrip, Kingdee Software, Qihoo 360, Baofeng, Home Inn, Hanting, Dangdang, iQiyi, Meituan, Bilibili, Kingsoft, Pinduoduo, and NIO all have investments from idg capital.
And idg is a first-round investor.
This is much better than a certain righteous cow.
"Don't be so open-minded. You drink blood and don't drink blood. I'm trying to help your brother out, okay? The problem you are facing now is the performance problem. In the end, you don't just sell at a low price. An S fund can perfectly solve your worries."
The more Qing Yun thought about it, the more he realized there was something interesting about it.
idg is not short of money at this time, but it is short of performance, otherwise it would not be seeking to transfer Penguin's equity at this moment to beautify its own statements.
In 2000, idg’s total investment in Penguin was US$2.2 million, US$1.2 million in investment funds and US$1 million in convertible bonds, with a total equity holding of 20.
In 2001, Pearl Harbor Yingke sold about 13% of its shares to IH for US$12 million, which was nearly ten times the return on investment. This was a very cost-effective deal.
At this moment, in September 2003, in order to whitewash the statements, idg was also forcing Pengchengma to repurchase the remaining 72 shares for US$12 million.
Looking back more than ten years later, Pengcheng Jockey Club was so happy that I couldn’t close my mouth, and idg’s intestines were filled with regret.
But at this moment, the feelings of both parties are completely opposite.
In 2003, Pengcheng Ma was so angry that he burst into tears. When he was drunk, he cursed the bitch behavior of capital.
Life is so dramatic and unpredictable.
Qing Yun, who has 20 years of future experience, directly opened the golden finger, "I will save an S fund to undertake the investment of your idg entering the exit period, and you will sell it to the company at a premium of 10% based on the previous round's valuation." I, at the same time, I will give idg an excess return of 10% in addition to the annualized return rate of 65, so that you can also share the back-end income. This is much better than forcing the founders to repurchase."
"You I heard about it." The male pigeon held a cigar and smiled playfully, "So, Pengcheng Ma foundYou"
It's not surprising.
Although this guy is technically a newbie in the business world, he can't help but have money.
It was circulated some time ago Yes, a CD player seller in Zhongguancun received an investment of 20 million from Mr. Xiaoqing, and is now engaged in e-commerce.
So, this guy is not fake now, he is still an investor. It is normal for someone to come to his door.
Everyone knows that he has a good father-in-law.
This is the endorsement of the capital market.
And he himself. The halo is too dazzling.
Because Liu Qiangdong received tens of millions of investment funds from Qing Yun, he is now also the darling of capital. Countless investors are waving checks and want to follow him. Xiao Qing always made a fortune together.
Qing Yun just shrugged, "I think there is no need for you to ruin your reputation. "
The male pigeon sighed, "Business is not easy to do, and I can't help it. I kept choosing, and Penguin is the most suitable one now. ”
“Each investment is discussed on a case-by-case basis. In principle, the premium should not be lower than the previous round of valuation and not higher than 30% of the previous round of valuation, including projects you have invested in.” When my overall 5-year withdrawal period expires, after I withdraw, I will give you the overall income of the fund, excluding the annualized 8% excess income of 15%, no more, otherwise it will be the same if I buy from your next home. ”
Qing Yun cut off the eggplant cap and started to smoke with a lighter.
The male pigeon felt that his toothache was uncomfortable.
He was very Clearly, Qing Yun is taking his blood.
But he cannot refuse this condition. He cannot survive this performance period, otherwise he will not force Pengcheng Ma to repurchase.
According to the schedule, Penguin will be listed on the Hong Kong stock market next year. The number of shares held by idg now is 47.5 billion. Calculated at 1 Hong Kong dollar per share, this is 47.5 billion Hong Kong dollars. He asked Pengcheng Ma to pay 12 million US dollars. Buying it back is actually very benevolent, and he was forced to rush, otherwise the entire performance period report would be too ugly.
Qing Yun's S fund proposal is equivalent to all his investments that have not yet been withdrawn. After knowing the details, all the project risks were transferred out in an instant, and all the investment was recovered instantly while the profits were cashed in. Frankly speaking, this approach is considered niche in foreign countries at the moment. Throughout the 1990s, the total amount raised by S funds worldwide did not exceed 10 billion US dollars, and it was even zero in China.
But Qing Yun has the ability to build S funds and has this market reputation.
Strictly speaking, his merger and acquisition was a successful S-fund transaction.
After taking over and exiting, Shi Yuzhu, as a financial investor, made a lot of money. A very good wealth demonstration effect.
Xiong Xiaoge is willing to bet that as long as Qing Yun spreads the word about setting up an S fund, he can raise hundreds of billions of funds.
Over the years, the people of China have gatheredThere was too much old money and new money, and Qing Yun didn't need to talk. His fiancée Qin Manman could easily raise the money to buy out all the investments from idg Capital just in her club.
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