Chapter 221 [Valuation of 1.5 billion]

The time has entered the second half of July, and the market index has also stood above 3,000 points, and the market has almost come to an end.

Fang Hong was also counting. Compared with the investment scale of Qunxing Capital in the A-share market, the one billion yuan in his own playing account is considered a small amount of money.

Qunxing Capital currently has two major investments in the A-share market. The first one was established last year when the market was above 1600 points. A total of 20 billion funds entered the market. As of today, it has created +237% floating profit. Absolutely The profit was 47.5 billion yuan.

Another fund is the funds of Li Yongzhi, the coal boss, and Xiao Quan of Pengrui Capital. A total of 24 billion yuan entered the market at the end of May. As of today, there is also a floating profit of about +36%, with an absolute profit of 8.65 billion yuan.

The current total market value of Qunxing Capital's holdings in the A-share market is not too big, just breaking through the 100 billion mark. After removing all leveraged funds and capital costs, the net value is 57.5 billion yuan.

After the funds are withdrawn from the A-share market, the funds cashed out from the secondary market can then be invested in the physical and primary markets.

However, the current market has not yet finished, and it is still in the process of asset price appreciation, and it can continue to be happy for a few months.

After this month, in the A-share market in the future, the days of making money without brains like the first half of this year will no longer exist. We can only wait until the epic leveraged bull market in 2015.

...

On Saturday morning, stay in the villa quietly.

Qin Feng, the founder of Xingyu Technology, came here to visit today. When he came to meet, Fang Hong knew without thinking that Xingyu Technology probably spent almost all of its money.

The last time Qin Feng's company raised 35 million yuan, it has been more than three months now, which is exactly in line with Fang Hong's estimated time.

Villa living room.

Fang Hong, Qin Feng and another young man were sitting here. This young man in his twenties was brought by Qin Feng. His name was Hou Junda. According to Qin Feng's introduction, he was his good friend.

Fang Hong skipped the matter of Hou Junda temporarily, and said straight to the point: "Tell me, how much do you plan to ask for this time?"

Qin Feng said succinctly: "300 million RMB financing!"

Hearing this, Fang Hong nodded and pondered for a moment, then looked at Qin Feng and said, "Then estimate your company at 1.5 billion, how about it?"

Qin Feng nodded and said, "No problem."

Hou Junda, who was sitting on the side, was also in a daze for a while. This involves several hundred million in financing, isn't it a bit too straightforward?

One really dares to ask, one really dares to give!

Hou Junda also knows a little information about his friend Qin Feng's Xingyu Technology. This company currently has more than 200 people. In a sense, there is nothing but these 200 people. The 200 people are worth 1.5 billion?

That's right!

What Fang Hong saw was people!

This time, the financing is the A round of financing, which is still the exclusive investment of Qunxing Capital, with a valuation of 1.5 billion, and a financing of 300 million, which means selling 20% ​​of the equity. Technology's shareholding ratio will rise to 44%, becoming the company's largest shareholder.

Fang Hong said in an orderly manner: "Go to President Hua of Qunxing Capital, and I will say hello to him later."

Hou Junda was confused again, is this the deal?

Good guy!

This is an astronomical figure of 300 million, and it was decided in less than a minute.

Hou Junda called it a good guy in his heart, it was completely different from what he had imagined.

It's incredible.

After a while, Qin Feng glanced at his friend Hou Junda, then looked at Fang Hong and said, "Brother Fang, this friend of mine is also planning to start a business and has a project in hand, so..."

At this time, Hou Junda was hesitant to speak. He was actually five or six years older than Fang Hong, but he was also a little nervous at this moment, because Fang Hong's gestures and words were full of big boss aura.

It's not about age.

Fang Hong couldn't help laughing and said, "Since your friend is not an ordinary person."

When Hou Junda heard this, he said modestly: "Fang Xian is overrated. The gap between me and Qin Feng is still quite large. His ability is much better than mine."

Fang Hong smiled leisurely, and immediately said: "Investing in your project, money is not a problem, but I will ask you a question, for a start-up company, what do you think it needs to have?"

Qin Feng on the side remained silent. The investor's father has already recommended you. As for whether you can impress the man in front of you, you can only rely on your own performance in the future.

After a while, Hou Junda thought about it, and Fang Hong's question was too broad, easy to answer but not easy to answer.

At the end, Hou Junda organized his speech and began to say: "I have studied the history of Alibaba's success and found that there are three key points, one is to have a very huge target market; the other is to find a group of super reliable people and you work together; the third is to have a sum of money that can never be spent compared to peers."

As soon as the words fell, Hou Junda added: "Especially for the third point, capital is very important for a start-up company. If you are always short of money, it will be difficult to start the company. When you have a sum of money that can never be spent , you will have the courage and guts to try something new.”

After finishing speaking, Hou Junda stopped talking to show that he had finished his answer.

Fang Hong nodded thoughtfully, looked at Hou Junda after a while and said, "Okay, you and Qin Feng will go to Qunxing Capital together. In the angel round financing stage, I will invest 5 million in you."

What is angel round investment? I just don’t know whether your project will be successful or not, and I have no way of judging it. If you decide to invest this money, you are ready to lose it. That’s why it is called an angel investment. But if the project is successful, then this investment will win big , the future returns will be hundreds or even hundreds of times.

As soon as these words came out, Hou Junda was stunned, and quickly said: "Mr. Fang, you just invested money without asking me what to do? This..."

Are people in the VC circle so talkative?

"Hehe..." Fang Hong smiled, and said calmly: "Angel round financing is just a few blind investments. It is unknown whether the project will be successful. The investment is an idea, and the idea is a person's idea, so In the final analysis, the angel round investment is based on people, not your project. Since you are Qin Feng’s friend, the so-called grouping of likes gathers people, I believe his friends will not be so bad, because you are Qin Feng’s friend. It’s worth my risk to invest 5 million in you to test the waters.”

When Hou Junda heard this, he was speechless. The investment father threw money at no matter what the project was, but as an entrepreneur, he still wanted to say something, and immediately said: "The project I am working on is an online streaming video website, and the website has already been built. Well, the Chinese name is 'Hummingbird Video'."

Um?

Online video sites?

Fang Hong, who was originally relaxed, was surprised, and said immediately: "Let's talk."

The video website branch is the key layout area of ​​Qunxing Capital. Yixing Video has already started preparations, and now the game of online video copyright has also fallen. If Hou Junda invests in Hummingbird Video, the business will overlap, which is typical. Waste of resources.

Hou Junda was also taken aback for a moment, and immediately said after hearing what Fang Hong said: "Hummingbird Video is a video player based on P2P technology."

Fang Hong couldn't help but said, "What are you talking about? P2P technology? Isn't that just how fast broadcasting works?"

The so-called P2P technology, also known as peer-to-peer technology, relies on the computing power and bandwidth of the participants in the network, rather than gathering the dependencies on a few servers.

P2P networks are usually used to connect nodes through AdHoc connections. This type of network can be used for multiple purposes. Various file sharing software has been applied, and P2P technology is also used in data communication of real-time media services such as VoIP.

Kuaibo, a video player, was launched in 2007, riding on the express train of P2P technology and developing rapidly.

Now it is also known as a must-have software for old drivers.

Kuaibo uses the P2P model, which requires users to use a specific plug-in player to watch the video. The website only needs to provide seeds. When the user scale is large enough, more than 90% of the video files are downloaded from other users’ computers. , thus greatly reducing the bandwidth consumption of the website, and greatly reducing the operating cost of the website.

You must know that "network fees" are a major expense item for online streaming video websites. The larger the scale, the greater the traffic consumption, and the more "network fees" will be paid.

Fang Hong didn't expect Hou Junda to take such a path when he came up.

What is the ending of the fast broadcast is naturally very clear.

This is a dead end!

...