Chapter 836 [Three Tortures of the Soul]

Tian Jiayi conveniently picked up the business plan for investors that was placed on the table. The subtitle is "New Media Based on Social Mining and Personalization Promotion." The plan explains the six major investment highlights of the product to investors.

The personalized digital media market is about to explode; an original personalized information discovery engine; functions and technologies that are ahead of similar products in the world; industry-leading user stickiness and natural growth; complete product layout and coverage of mobile terminals and PCs; rich capabilities A team with entrepreneurial experience and technical skills.

These six investment highlights capture the key points while boasting a lot. Especially for the sixth investment highlight, Zhang always described his previous four entrepreneurial failures as having rich entrepreneurial experience...

But there is nothing wrong with it, Wang Po is selling melons and boasting about herself.

After a while, Tian Jiayi put down the asking price and looked at Fang Hong and asked, "If it is an acquisition, how do you plan to talk to the founder of Toutiao?"

Hearing this, Fang Hong said calmly: "Let's talk openly about status based on strength. What is the advantage of Toutiao? A personalized recommendation engine based on big data. Although Mr. Zhang boasts that his personalized information discovery engine has original technology, it is still ahead of the curve. There are similar products in the world, but I throw out the trump card of Chen Yu, how will you deal with it?"

Of course, it’s not really about getting rid of Chen Yu, but the artificial intelligence technology and powerful algorithm development capabilities of Chen Yu’s Quantitative Capital. Mr. Zhang’s so-called original personalized algorithm recommendation technology is not unbreakable.

Fang Hong continued: "Secondly, if we integrate the rich big data of various platform companies under Qunxing Capital, such as Weibo, WeChat, Yixing Video and other platforms, is the scale of the data ecosystem richer than that of your Toutiao? Faced with this, is it not? My 'Family Bucket' is linked to your headlines, how should you deal with it?"

After a pause, Fang Hong turned to smile and said: "Finally, the Internet industry has to fight for the ability to burn money. To put it bluntly, it is the ability to burn money. To fight for the money burning thing, we don't have much else but a lot of money. Your Excellency How will we respond?”

Fang Hong's three soul tortures are fatal to the current headlines, and none of them can withstand them.

The beautiful assistant nodded involuntarily: "I understand."

The Three Tortures of the Soul are an open and fair discussion based on strength and status. Fang Hong said: "Let Wu Cheng go to Mr. Zhang with these three questions, and at the same time find other investment institutions that have already raised funds in previous rounds to also invest in them." If you ask these three questions, if you think you can answer them, then you will see the truth, if you can’t answer them, then transfer the equity to me, but the premise is that you must do work for the founder of Toutiao to 'persuade' him to sell Toutiao."

The beautiful assistant couldn't help laughing and said, "The so-called 'persuasion', can I understand it as pressure?"

Fang Hong shrugged, noncommittal.

If you want to take over the equity held by other investment institutions, of course you have to ask those institutions to put pressure on the headlines, otherwise it is useless to sell the equity in their hands but not get control.

Therefore, the additional condition is that which investment institutions have to do ideological work for the founders of Toutiao, whether it is persuasion or pressure, if they want Qunxing Capital to sell the equity in their institutions, the premise is that the entire Toutiao will be sold in a package.

It is foreseeable that it is hard for outsiders to imagine how much pressure Mr. Zhang, who is already in trouble, will face in the future, and there is a high probability that he will not be able to bear it.

If Qunxing Capital is down, Fang Hong's soul three tortures will not be able to solve it.

Today’s Toutiao’s follow-up D round of financing has a high probability that no investors will give money. The risk is too great, and Qunxing Capital is also playing in the Internet industry. Discouraged a large number of investors.

Without the support of capital, the crisis of the headlines cannot be resolved just by breaking the capital chain, and it may face the risk of sudden death.

At this time, Fang Hong added: "Of course, we can't make too much noise in front of those capitalist organizations. We also leave a mouthful of soup for them to drink when we eat meat, so that they will work harder and be willing to work harder for the founder of Toutiao. Thoughts are working.”

Once the acquisition is launched, and the soul three tortures are issued, it is tantamount to directly exposing that Qunxing Capital is very optimistic about this track, and it will also make all parties' capital more determined about the prospects of this track.

After all, this is the track that Qunxing Capital is optimistic about, and it must be controlled. Referring to Qunxing Capital's previous cases of taking action in the Internet industry, such as Weibo and WeChat, the answer is self-evident.

Everyone is not a fool, knowing that it is a good thing and does not want to sell the order, and has to sell the cabbage price due to pressure, the psychological must be full of resentment.

In this case, if you don't even give a sip of soup to other investment institutions, you may be forced to succumb to Qunxing Capital's current strength and give up a piece of potential fat meat unwillingly, but you must bear this hatred in your heart. Ugly eating will definitely make the tripper retaliate in the future.

Although Fang Hong is not afraid of offending people, he will not mindlessly offend people and make enemies everywhere. Properly sharing a little profit is more beneficial and can achieve his strategic goals more smoothly. This is the most sensible method.

Friends, it’s better to have as many as possible.

Of course, those with original sin and corruption in the medical field must never be friends with them. Qunxing Capital has no original sin because it has no historical burden. For this type of group, it is either an enemy or a passerby, and it will never be a friend.

After a while, Fang Hong added: "Among the current shareholders of Toutiao, several overseas investment institutions such as Sequoia Capital will have all their equity recovered, while other domestic institutions will allow them to reorganize the company when the time comes. Get on board again, or give them an existing exit mechanism to make a profit on their exit.”

“As for the exit mechanism, Toutiao’s financing this year was not valued at US$500 million. Let’s sell their equity at three times this valuation, which is a premium to the overall valuation of US$1.5 billion. This is not a trap for them. "

However, Fang Hong knew in his heart that compared with the valuation that could exceed 100 billion US dollars in 78 years, even if it is now valued at a premium of 1.5 billion US dollars, it is still a drop in the bucket to acquire those shares.

At this time, Toutiao has not yet hatched Douyin, and the short video field has not yet exploded.

Fang Hong continued: "The other way is not to take money, but we reserve a seat for them to get on the bus, pick them up during the last round of primary market financing on the eve of Toutiao's IPO, and complete the boarding before the IPO. .”

If you choose to get involved again, and do it during the last round of financing before the IPO, the valuation at that time will definitely be high, the return on investment will definitely be far less than it is now, and the equity you will get for the same amount of money will definitely be much less. Of course, the risks at that time were much lower, and you were basically making money steadily, so the investment costs were naturally high, which is reasonable.

Tian Jiayi couldn't help but say: "If you are so optimistic, then they must have chosen to raise funds on the eve of the IPO before getting on board."

Of course, you can make a lot of money and be safe by taking money directly now, but Star Capital is obviously very optimistic about this battle and will invest a lot of money in this track. Referring to the successful cases in the past, as long as you are a little courageous and not so short-sighted, Those who choose to book a parking space will choose to wait to board the car on the eve of the IPO.

And those investment institutions must be absolutely convinced that as long as Qunxing Capital wants to list this company, there will be absolutely no problem.

Obviously, if Fang Hong wins the company Toutiao, he will also get it listed on the A-share market. That is why he will ask Sequoia Capital to directly withdraw money.

Although next year Big A will usher in a channel for capital to go north, and foreign investors can invest in A-shares, but there is no official announcement yet, so naturally we have to follow the current rules.

Finally, Fang Hong made a final decision: "That's it. Let's arrange for Wu Cheng to lead the team and set off for talks."

…