Global Monopoly of Technology

In this C round of financing, 15 VC investors who participated in the investment all led or participated in the investment, and Gates Personal Investment Fund and Google also participated in this financing.

After Bluestar Technology completed this round of financing, major investors contributed a total of $1.275 billion in proportion, and the equity held by major shareholders also changed accordingly.

After the completion of the C round of financing, the equity structure of Bluestar Technology Co., Ltd. is as follows:

Option pool reservation: 7.11%

Luo Sheng: 41.72%

Goldman Sachs: 9.66%

Tengxun: 9.46%

SoftBank: 8.8%

Venture capital: 5.8%

IDG: 5.47%

Morgan: 3.3%

Huajin Securities: 3.22%

Xu Yong: 3%

Sequoia: 1.15%

Gates: 0.5%

Google: 0.5%

Others: 0.31%

After the completion of the C round of financing, it is no surprise that this is the end, and there will be no further private financing in the future.

And Luo Sheng also allocated 3% of shares to co-founder Xu Yong as agreed, and was officially stripped from the option pool, which also means that starting from the C round of financing, once there is a new equity change, Xu Yong's equity will also be more or less. or less dilution change.

After the C round of financing, several early domestic investors chose to cash out and leave the market, adding up to a total of 0.25% of the equity.

But this small 0.25% is currently worth as much as 310 million yuan. Google and Gates' private investment fund participated in the C round of financing this time, and the two parties added up to a total of 1% of the equity. For this reason Contributed a huge sum of ￥1.241 billion.

According to the special agreement in the shareholder agreement, the shareholders of Bluestar Technology sell the equity they hold, and the company has the right of first repurchase at the same price.

There are minority shareholders who want to cash out early in the form of transfer. As long as someone is willing to accept it, they can cash out. According to the valuation after the C round of financing, these investors who want to leave the market invest hundreds of dollars in Bluestar Technology in the early stage. 10,000, and now it has brought more than 50 times of excess return, and a few million has turned into hundreds of millions. Even if you cash out and leave now, you will make a lot of money.

Of course, Luo Sheng chose to repurchase, and repurchased it according to the company's valuation after the C round of financing.

After the C round of financing, the company's book capital immediately increased by 10.55 billion yuan, just waiting for the VC to pay, and taking 310 million to buy back 0.25% of the equity, it is definitely a profit, Luo Sheng knows better than anyone about the blue The future value of Star Technology will further skyrocket.

Moreover, he intends to repurchase this equity, not to share it equally among the shareholders of major companies, but to transfer it to the company's option pool for reservation, the reason is for the long-term development of the company and the introduction of talents.

This is equivalent to the company's major shareholders giving up some of their interests to meet the company's development. It must be very reluctant. This is also several hundred million. It is now worth tens of millions of dollars, and it may increase in value by over 100 million in the future.

Still reluctantly agreed.

But just after Luo Sheng had negotiated with several small shareholders who had left the scene, SoftBank jumped out to intercept Hu, and Li Yan offered ￥500 million to buy the 0.25% stake on the spot.

This caught Luo Sheng off guard, and the other investors were speechless. Sure enough, he was the "Kai Zi" in the investment world, no, it was the rhythm of "Kai Ye".

Those few small shareholders who were ready to cash out and leave the market were very happy. Of course, without any hesitation, they decided to sell it to Softbank, and they were still expecting Luo Sheng to drive up the price, and it would be better to double it.

In less than a year, the return on investment is over 80 times, and what could be better than this?

But Luo Sheng resolutely gave up. Anyway, Li Yan just raised his hand to repay his favor. Sometimes an inch of profit must be fought, but sometimes he has to learn to give up properly.

Li Yan is so diligent in helping SoftBank Capital absorb the shares of Bluestar Technology,

It is because he also benefits, because Sun Zhengyi gave him a promise that the more shares he won for SoftBank in Bluestar Technology, the more extra remuneration he would give.

When it comes to his own vital interests, Li Yan will of course do this.

After completing the C round of financing, Luo Sheng and his entrepreneurial team jointly hold about 51.8% of the equity, and external investment shareholders have about 48.2% of the equity. So far, the equity structure of Bluestar Technology has become Luo Sheng's entrepreneurial team and external investors. VCs each account for about half of the company's residual value.

However, even if the equity of Bluestar Technology is further diluted, the absolute control of the company is firmly in the hands of the entrepreneurial team, and within the entrepreneurial team, Luo Sheng has absolute control over the company.

The speed of this round of financing is very fast, the agreement was negotiated on the same day, and the contract was signed on the same day.

After negotiating in the morning, the signing ceremony was completed at 17:00 in the afternoon. Then, a temporary media conference was held at the Hilton Hotel to disclose some relevant information about the financing. When the media conference was over, it was just before the meal. At the appointed time, of course, a dinner was held at the Hilton Hotel to celebrate the successful completion of this round of financing.

It can be said that timing is the dead end of the card, not a minute is wasted.

The C round of financing will complete the audit, and follow-up negotiation will go through the entire process in one day.

This is the efficiency and perfection that Luo Sheng pursues.

For him, the time is very fast now. The cost of time is the most expensive here in Luo Sheng, and no cost can compare.

There are too many R\u0026D projects in the [Azure] project plan of Côte d'Azur, among which the "Blue Core" project is still led by him, and the entire [Azure] plan has to be coordinated by him.

He didn't want to waste even a day until the [Azure] plan was successful.

During the banquet, all parties were very happy. Before Meng Qiu and others stared at Li Yan blowing beards, now they are enjoying the wine again.

In business, they talk about business, but it does not hinder their private relationships. They are all insiders.

At one of the main tables of the dinner, Luo Sheng was sitting with a group of major investors, and Xu Chenghua next to him said with a grin: "Brother Luo, I still want to break the casserole and ask to the end, what is Bluestar's online video business? How can it be realized?"

Others were also quite curious, Xu Chenghua obviously had not finished speaking, so he continued:

"In the conference room during the day, you 'dissected' Wikipedia with the investors present. It is indeed a very novel interpretation, but the problem is that Wikipedia can continue to this day by not relying on its own commercialization, but relying on feelings and Crowdfunding lives on. True, it’s a non-profit charity, but even if it’s commercialized, it’s not very profitable and has an Achilles’ heel.”

After a while, Xu Chenghua took a sip of wine, then looked around and said, "Once Wikipedia chooses to commercialize it, it will end, why? My reason is very simple. After commercialization, the content will no longer be objective, or More biased, because to satisfy advertisers, the quality of the content must be sacrificed. Obviously, drinking poison to quench thirst, users will sooner or later abandon it, so Wikipedia can only become a non-profit charity organization and can survive, relying on the feelings and volunteers of users, plus crowdfunding Donate to keep running.”

Seeing that others nodded silently to agree with this statement, Xu Chenghua immediately looked back at Luo Sheng and said with a smile, "So I came to an imprecise conclusion, will Bluestar Video... also face the same situation as Wikipedia? An embarrassing situation? You kill the product that eventually became a failure? If not, how can you achieve the perfect balance between users, content, and monetization?”

Luo Sheng saw that Xu Chenghua and the others on the table were all listening intently, waiting for him to follow.

At the end, Luo Sheng said calmly with a smile on his face: "In this business, traffic is the foundation of everything, without traffic, everything is meaningless. Wikipedia doesn't make money, why should I insist on being a cloud song encyclopedia? This is not to ask how much profit the product can bring directly, but to enrich Yunge search, it can't make money but it must have."

"Ask is to increase the user experience, and ultimately improve the vitality and long-term vitality of Yunge Search. As the head of the company, if you do a detailed accounting, the company will definitely be finished. I will never do a detailed accounting of the company. That is what middle and senior management should do. I only count the company's general ledger. You will find that Google has been donating money to Wikipedia, and there is no need to acquire it. Google is already the overlord of the search engine, but it still keeps donating money to Wikipedia. Wiki, isn't it worth thinking about?"

"After one sentence, as long as you have traffic, if you can't find the opportunity to monetize now, you will find it one day." Having said that, Luo Sheng looked at Xu Chenghua and added with a smile: "Teng Xun already had 2 There are more than 100 million users, but before the second half of 2003, they were struggling to find cash. After various attempts, a QQ show turned your finances over. Without a strong user base and traffic base, any show is useless. Right?"

Xu Chenghua couldn't find any reason to refute this for a while, so he could only hold a wave, and immediately laughed: "As expected by "Silicon Valley" as the existence of 'the son of the Internet', listening to Jun's words is better than reading ten years of books. ,Ha ha."

Speaking of which, there are still many netizens who eat melons wondering why "Silicon Valley" magazine calls Luo Sheng "the son of the Internet" instead of "Internet Godfather", "Internet King" and other domineering names.

Actually, what's so confusing?

Luo Sheng is so young now that it would be a violation of the title of "Godfather of the Internet". People who don't know him think that he is no longer a fox in his 60s or 70s.

The title of "Son of the Internet" gives the first impression that this person is very good in the Internet industry and is very young.

Domineering names are not necessarily suitable, and the right is perfect.

The following dinner party, there were not too many accidents, and the business exchange was over.

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