In DCM's office, Lu Zhou was reading the document to be signed.

Before coming here, he had consulted a law firm about the corresponding electronic file. After talking to Lin Xinhe and Lei Jun today, it will also be reviewed by the relevant lawyers.

"Lu Zhou, regarding the anti-dilution clause. I have no objection to this."

Naturally, Lu Zhou didn't have much objection. After all, the valuation of Menggu Advertising was not low, and DCM always had to come up with some terms and restrictions. What's more, this was not a restriction at all, it was at best a bet on the next round of valuation.

Now DCM has led the investment in Dream Valley Advertising, and its Series A valuation has reached US$100 million.

This price is slightly exaggerated, but it is reasonable. Based on the monthly profit of Dream Valley of 3.5 million yuan, if Dream Valley does not carry out promotion work, the annual profit is approximately equivalent to 6 million US dollars. Based on the price-earnings ratio

With a valuation of 50 times, Menggu can even reach a valuation of US$300 million.

Therefore, although it is artificially high, it is acceptable to DCM. After all, even if Dream Valley Advertising has not received financing before, it has already achieved initial profits.

If DCM's money is invested, if Dream Valley Advertising can continue to increase its market share, DCM will naturally make gains in the following rounds.

But if something unexpected happens in the middle and Luzhou's poor management results in the valuation of round B being far lower than the US$100 million of round A, then the anti-dilution clause proposed by Lin Xinhe will take effect.

For example, if the B round of Menggu financing is valued at a discount of 90 million, the shares previously held by DCM will lose money. In this case, the founding shareholders Lu Zhou and Fang Qiang must take the discount proportion from their own shares.

Out part of the compensation dcm.

If Menggu Advertising develops worse and its valuation continues to decline, the founder’s shares will become less and less with the financing rounds. The founder will have to use shares to compensate for the valuation difference.

One round of investors.

"Mr. Lin is laughing. This is a common practice in the industry. It is also to protect the rights and interests of VCs. I dare not have any objections. If I have any objections, there is really no way to talk about it, haha." Lu Zhou said while laughing.

After all, starting a business can lead to a dark road, no matter who looks at it, this is how it goes.

"Young man, let me give you a heads up." Rebus interrupted.

"Mr. Lei, please speak."

"Today's valuation of Menggu Advertising is on the high side. Although based on a rough price-to-earnings ratio, it can far cover the valuation of 100 million, but that is a valuation method before listing.

I believe you are aware of competitors in distribution channels. To put it bluntly, third-party market applications can only maintain rapid development for a few years. When mobile phone manufacturers come in, this market will definitely continue to be compressed.

So don’t say number one, try to stay in the top three, then you will have a way to survive.”

"Thanks for the reminder, Mr. Lei. I had foreseen this. After all, Mr. Lei, you are also making mobile phones. In the future, the combination of software and hardware to create added value for users can be said to be rice's winning point."

"Haha. Yes, it's quite thorough. After a while, Menggu Advertising's round B round can come to me. Rice Mobile or my fund will have the ability to lead the investment."

Lu Zhou couldn't help but chuckle to himself. After all, Rebus was an outstanding person. He understood the Dream Valley advertisement and understood its future value.

"Old Lei, you are so anxious about this. The A round has not been signed today, and you are thinking about picking the peaches in the B round. But I remember that your investment style is not like this." Lin Xinhe interrupted.

"Lu Zhou, Qian Menggu will develop first after financing. You can handle the B round by yourself. After all, DCM is still experienced in the industry. We can find you a leading investor for the next round. We can discuss all of this. It's all simple.

.”

Rebus was not in a hurry and laughed to himself. It may be difficult to say how this matter will be solved, but it may be difficult to say everything about round B, but at this time both of them have to express an attitude.

The subtext is nothing more than telling Lu Zhou to remember these two brothers during the B round, and remember to leave a mouthful of soup if things develop well in the future.

What if it doesn’t develop well? Haha, don’t talk about feelings, just act according to the terms.

"Boss, this is really embarrassing for me." Lu Zhou showed a bright smile, showing a harmless look.

He changed the topic, "Mr. Lin. In addition, regarding the selection of directors, I would like to seek help on the human resources system and law.

Frankly speaking, we at Menggu Advertising are just a bunch of students messing around. All the system structures and governance in the company are very extensive. To put it bluntly, we are just a bunch of interns.

What kind of contracts, industrial and commercial, human resources systems, option settings, just thinking about it gives me a headache.

So I hope Mr. Lin can provide some help and help."

After hearing Lu Zhou's words, Lin Xinhe waved her hand directly, "Okay. I have decided on this candidate and will give you some information. I will definitely give you a satisfactory answer."

Whether Lu Zhou asked or not, Lin Xinhe would always arrange for personnel to exercise DCM's director rights, but if Lu Zhou didn't ask, the candidates would be broad, and a supervisory role would be enough.

For example, when making a decision, asking why we did this, why we spent so much money, and so on, this director plays a role in understanding the progress of Menggu and supervising it.

As for voting and resolutions, as long as Lu Zhou doesn’t do anything too extreme, DCM will generally not interfere.

Now that Lu Zhou has made a request, from the perspective of happy cooperation, Lin Xinhe must try his best to meet Lu Zhou's needs.

Naturally, Lin Xinhe would not regard Lu Zhou as a good person. Haha, doesn’t this guy just want a labor force to help him solve some professional problems? It seems like he just started a business and he really doesn’t know anything. The director of dcm will do a good job.

Put forward opinions on the plan, and in the end, Lu Zhou's consent is not required before the plan can be implemented.

"In addition, the company's CEO will be Fang Qiang. This has not been explained to you two before."

Both of them were a little surprised when they heard this.

"Oh? I remember that this Fang Qiang is a college student who just graduated this year. I'm not sure about the relationship between the two of you, but to be honest, what Lao Lei and I value in this investment is not just the Dream Valley advertising, but more importantly

Or your own value.

I’m very worried if you don’t participate in the company’s daily operations.”

Of course, that's what Lin Xinhe said, but whether it's based on shares or board seats, he can't interfere with Lu Zhou's decision. Even so, he still has to raise his opinions, after all, everything is discussed.

Rebus also nodded at the side, "This boy Fang is not like you who talks too much about it. You can also do it. The penguins declared war two days ago. You can get it right, haha."

"You two can rest assured about this. Although Menggu Advertising has only been here for a few months, to be honest, I am just an introduction. From May to today, the daily operations of the company have been handed over to Fang Qiang.

"

"Then what else are you doing? Cloud computing?" Rebus asked curiously.

A word popped up in Lin Xinhe's mind, "WeChat?"

This is not the relevant information he found when he asked his subordinates to do due diligence some time ago. However, because all WeChat businesses have not been launched, Lin Xinhe did not take it seriously. But now, he remembered that the development of Menggu a few days ago

As a "show" at the conference, his mind suddenly exploded.

This kid has already planned it! It’s really a big game of chess.
Chapter completed!