Chapter 8 35 million shares in Bilibili! (Please bookmark + recommend)

As a financial manager, Yao Yutong found that Slope Capital was really spending money like water during this period, having already spent a little over two million in September.

According to the construction progress of the Jijia Apartment Shizi Store, the total investment in the Jijia Apartment project in 2014 exceeded 7 million.

However, at the end of December, the first batch of tenants will be able to move into the apartment project. The company has been established for so long and can finally see the money back.

According to Zheng Wentong's estimate, the year-round occupancy rate of Jijia Apartment Shizi Branch will not be less than 75%, and the average rental price of a single apartment is 2,000 yuan.

2000 times 460 times 0.75, the actual monthly rent is 690,000, and the annual rental income is more than 8 million.

Excluding personnel wages, equipment maintenance costs and losses, and factory rent, the annual rental income exceeds 6 million. The capital was successfully recovered in the first year, and it is net income every year thereafter.

Yao Yutong now feels that Zheng Wentong has a good investment vision, and a Jijia Apartment Shizi Store can feed back the normal operation of the parent company Slope Capital.

Slope Capital has purchased three more cars, a Mercedes-Benz S400L, a BYD e6 and a BYD L3.

Two of them were rented by BYD to its subsidiary Jijia for free. The BYD L3 was basically driven by Zheng Anguo, the e6 was left to Yang Jianwen, and the second-hand Jinbei was left to Zhou Zhifa.

Cousin Yang Jianbin and his aunt signed up for driving school together in a group. Zheng Wentong had promised him that after he got his driver's license, he would become Zheng Wentong's full-time driver and work with Zheng Wentong.

Slope Capital finally has an HR manager, a young lady named Chen Lei, who previously served as the HR manager at 51job. Zheng Wentong communicated well with her, so he hired her here.

Jiang Nan quickly handed over the personnel work at hand to Chen Lei, who was already very busy these days.

Chen Lei's salary is 12,500 a month, plus performance bonus. The investment department finally welcomed its first employee, Xu Ru, a married young woman.

Xu Ru previously worked at a local venture capital company with a state-owned background in Puhai. Later, she gave birth to a daughter and chose to become a full-time housewife.

Of course, Xu Ru's husband earns a lot of money and is also an executive in a venture capital fund company, so his wife does not need to go to work at all.

Xu Ru considered that her daughter was already in kindergarten and could be left to her grandparents. In addition, Slope Capital's working hours were relatively relaxed, so she submitted a resume to try.

HR manager Chen Lei couldn't make up her mind, so she gave her resume to Mr. Zheng for personal review.

After Zheng Wentong interviewed Xu Ru alone in the conference room, he found that although she was not at work, she was still very sensitive to market information.

Finally, I learned that Xu Ru would help her lover collect and organize some documents at home, so she was not completely out of touch with the workplace.

After some consideration, Zheng Wentong shook hands and welcomed Xu Ru to join. The investment department he was directly responsible for finally welcomed its first employee.

"Xu Ru, in order to facilitate your joining and because of the nature of your lover's work, I need to sign a confidentiality agreement for you. I hope you can understand."

"Of course, after signing this agreement, we will also compensate you to a certain extent in terms of salary."

HR manager Chen Lei thinks that the human resources composition of Slope Capital is very interesting. Except for the boss, all other employees are female, and all of them are very beautiful. They are like Zheng Wentong’s harem.

As for the young men at the Jijia Apartment of the subsidiary company, there is also an eldest sister who is responsible for cooking. I heard that she is Mr. Zheng's aunt.

On September 29th, Station B finally arranged a time to welcome Slope Capital to inspect and visit the company. Company founder Xu Yi and CEO Chen Rui were both at the company.

The parent company of Station B is Puhai Huandian Information Technology Co., Ltd., with its office address at No. 310 Fasai Road, and its legal entity is Xu Yi.

Three people came over from Slope Capital, CEO Zheng Wentong, financial manager Yao Yutong, and investment department Xu Ru.

Xu Ru was wearing a black OL skirt, a white shirt, and a silk scarf around her neck today, with big black waves, looking capable and charming.

Yao Yutong did not hesitate to give in. Wearing a light-colored suit, black high-heeled shoes, and plain glasses, she looked like a professional elite.

Since both ladies wore high heels, Zheng Wentong had to drive the S400L by himself. He increasingly felt the need to hire a full-time driver for the company.

Yao Yutong had done a lot of homework in advance. Zheng Wentong asked her a few questions and the answers were fluent, and he was quite satisfied with this.

"Mr. Zheng, I see that Bilibili completed its Series A financing last year. The company's current valuation is not low. The cost of investing in Station B is not low at this time."

"I have received news that Bilibili has started preparing for Series B financing and has contacted many venture capital investors in the industry."

"Venus Ventures, Chinese Culture, and IDG-Accel are all interested in investing. IDG is the lead investor, and Chinese Culture and Venus are following investors. However, Chinese Culture and Venus have different opinions on the valuation of Bilibili."

"Chen Rui, the current CEO of Bilibili, successfully listed Cheetah Mobile this year. He is really rich and free now. The founder Xu Yi is willing to step aside and let Chen Rui serve as chairman."

"Chen Rui understands both management and investment. He has a good relationship with the venture capital circle and has a personal relationship with Rebus. If he wants to invest money next year, Bilibili may not be interested in him."

"Of course, the competition between the two two-dimensional websites was originally very fierce. However, the internal friction between the founders of Station A was too serious, which led to the loss of die-hard fans and the growth of Station B."

Yao Yutong has already registered an account at Station B, and she will also follow new shows on the website. The barrage culture at Station B interests her, and the user stickiness is indeed much stronger than that of ordinary social networking sites.

By the time this black Mercedes-Benz S400L arrived at the parking lot under the office building, the employees of Station B had already seen the movement.

Li Ni, the company's vice president, looked at the S400L and smiled, "Mr. Zheng was born in the 1990s and is one year younger than Mr. Xu. Maybe you two have something in common."

Chen Rui is a big fan of Xu Yi. In fact, he does not agree with the two-dimensional culture, but he is very optimistic about the development prospects of station B.

In 2011, he invested in Bilibili as an angel investor, after Cheetah Mobile went public.

After Bilibili completed its Series A financing, founder Xu Yi and the investor IDG team strongly invited Chen Rui to join Bilibili full-time.

"Perhaps Mr. Zheng is also an experienced user of our Bilibili. Just like Mr. Xu, he is interested in investing in our company because he agrees with the two-dimensional culture?" Chen Rui guessed.

Employees from the administrative department of Station B were already waiting in the parking lot. The little girl accompanied Zheng Wentong and his party to the fourth floor to start visiting the company.

Xu Yi walked in the front, followed closely by Chen Rui, and then Li Ni. The three of them welcomed Zheng Wentong and his party.

"Hello, hello." Xu Yi held Zheng Wentong's hand. The two were close in age and both had technical backgrounds. There was indeed a sense of intimacy between them.

Chen Rui was very polite and followed behind, shaking hands with Yao Yutong and Xu Ru one by one.

Li Ni felt that she was overshadowed by the two female employees of Slope Investment, and her face was a little ugly, but she quickly adjusted herself.

Zheng Wentong knows very well that if he wants to successfully invest in Bilibili today, he must first convince founder Xu Yi and CEO Chen Rui. As for Li Ni's opinion, it doesn't matter.

Zheng Wentong first complimented Xu Yi, "Mr. Xu is really more famous than meeting you. He is young and promising. He just graduated from university and founded such a big company, and it is developing so well."

"All our employees at Slope Capital, including me, are fans of your Bilibili."

Xu Yi actually doesn't like to deal with investors, but it is indeed rare to meet an investor who is one year younger than himself.

The two talked about their majors again, and Zheng Wentong made some suggestions that were easy to make from a programmer's perspective.

Xu Yi was surprised, "It turns out that Mr. Zheng is actually a programmer, and he also did software development at Huafu Group before. It's quite interesting for an IT technician like you to suddenly start an investment company."

"I actually want to start a business, but there is no suitable project yet, so I have contacted several local Internet companies in Puhai, hoping to learn from each other and accelerate each other's growth." Zheng Wentong said very politely.

Zheng Wentong's meaning is very obvious. I am indeed interested in your company, so I will give priority to you at the first stop, but I don't necessarily have to invest in you. Asking for high prices is not advisable.

Li Ni took over the words at this moment, "Mr. Zheng registered and established Slope Capital after returning from abroad. The company has been in business for almost two months and has not invested in a project yet, right?"

Yao Yutong came forward to refute at this time, "Although Slope Capital currently has sufficient book funds, Mr. Zheng's investment philosophy is small but precise. Although the eggs are placed in different baskets, it is not good to have too many baskets. You will bite off more than you can chew this year.

The total number of companies invested is expected to be no more than 4."

"Although we have not invested in other companies yet, Slope Capital currently has a long-term rental apartment project in operation called Jijia, which will be profitable by the end of this year."

Chen Rui has also learned about long-term rental apartments before, such as Ziroom, Danke, Qingke, etc. Many employees at Station B also rent in long-term rental apartments, but he believes that this trend has passed, and it is not possible to enter the game again at this time.

It's hard to beat the industry giants.

Li Ni apologized, "Sorry, my information is lagging behind and I don't have a deep understanding of your company."

Three people, Zheng Wentong, and three people from Station B, entered the conference room and started a closed-door meeting.

Xu Ru is a guest assistant today, responsible for organizing and recording meetings. Yao Yutong is on hand to provide the corresponding data of station B. Zheng Wentong needs to convince Xu Yi and Chen Rui that station B is not short of money at present. He has to tell these two,

What can he bring to Station B?

He had an idea. He first made a joke, "As a registered user of Bilibili, I really like the barrage culture of Bilibili. There is a trivial reason why I want to invest in Bilibili. I want to send out a message.

The barrage said, 'I am a shareholder of Bilibili', and then this barrage was officially certified."

Chen Rui didn't quite agree with Zheng Wentong's nonsensical idea, but Xu Yi had often trolled Station A before, and even pretended to be a cross-dressing boss to attract users to join the group. Zheng Wentong's remarks won his approval and also dispelled some of his

Be wary.

“Attracting users of Bilibili means that the website can continuously provide original and high-quality content, which is also the core competitiveness of Bilibili.”

"Your company needs to spend a lot of money to create new projects. This is also your huge expense that increases every year. It is foreseeable that in the next few years, you may be operating at a loss."

"Of course, we have also noticed that the DAU (daily active users) and MAU (monthly active users) data of station B are growing rapidly. For Internet companies, losses are not necessarily a bad thing, which shows that the company is in

Rapid expansion.”

"Before completely defeating the competing company's site A, increasing revenue through the fans of site B and opening membership value-added services is undoubtedly a waste of money to quench thirst."

"Then the future sources of income are, firstly, to introduce more games, and secondly, to open a live broadcast track. Slope Capital will focus on investing in two-dimensional mobile game companies in the second half of the year, and I am also willing to serve as a media to promote the establishment of a deeper relationship between game companies and Bilibili.

cooperate."

Xu Yi was really excited now. He found that Zheng Wentong knew enough about Station B and had a foresight in the industry that could help Station B achieve better development. This was what he valued more.

Chen Rui was a little moved, but he revealed a little, "We have already contacted several investment companies and are preparing to complete Series B financing."

"I know this, but Mr. Chen, the reason why I am willing to invest in your company is because you are ready to serve as the chairman and CEO of station B and be fully responsible for the operation of station B."

"Your working experience in Kingsoft and Cheetah Mobile will help Bilibili better control costs and rationally utilize each round of financing funds."

"As far as I know, in addition to IDG, several other investment companies have some differences on the valuation of your company. Chinese Culture wants to complete financing as soon as possible."

"And even if Station B plans to list on Nasdaq in the future, it will only need to contact the underwriters with IDG as the main investor. There is no need for another foreign fund with a complicated background."

"Just yesterday, something regrettable happened in Xiangjiang, and the top management was very dissatisfied with it."

"There are some foreign funds and NGOs behind the siege of Central by these ignorant and stupid young people. When you introduce new investors, you must also consider the financial background."

Chen Rui was startled, and now he was really shaken. After all, Slope Capital was founded by Zheng Wentong, and he assured that the source of his funds was legitimate and could withstand the test.

So for Station B, Slope Capital will definitely be their alternative for Series B financing.

Now that we have reached an agreement, we need to discuss the financing ratio and valuation price. Chen Rui himself is an angel investor of Bilibili, and IDG participated in Bilibili’s Series A financing last year.

They definitely hope to give Bilibili a higher valuation, but Zheng Wentong only wants to make financial investments and does not seek to become the major shareholder of Bilibili. Slope Capital’s shareholding ratio is about 5%.

This also requires further negotiation and negotiation between the teams of the two companies. The management teams of Chen Rui and Xu Yi also need to communicate and negotiate with investors who have participated in the angel round and A round.

IDG agreed to transfer part of its shares, and Chinese Culture chose to participate in the investment. Venus Venture Capital, which has a complicated background, did not participate in the investment.

On October 14, 2014, IDG-Accel, Chinese Culture, and Slope Capital participated in the Series B financing of Station B, with a total financing amount of US$33.6 million.

Among them, Slope Capital invested US$5.4 million in this round, accounting for 6.75% of the shares. The B-round financing valuation of Station B is US$80 million.

Of course, since Bilibili adopts the AB share structure, founder Xu Yi still firmly occupies absolute control of Bilibili.

There is another chapter tonight
Chapter completed!