There is a bar in Houhai

Chapter 516 Investment Choice (seeking monthly pass)

With the rapid development of Wild Fox Company, the three-story, more than [-]-square-meter office space of Rongchuang Center, which originally looked quite large, is now stretched.

At present, only the headquarters of Wild Fox Holdings, Wild Fox Films, Chengxing Tianxia and Yiren Film and Television Yanjing Company are still working here.The "Ai You Charity Foundation", which has gradually developed, independently leases an office of more than 400 square meters downstairs in the Rongchuang Center for work.

Last time, Shen Fang proposed that Wild Fox Company buy a piece of land to build its own property, but it has not yet found a suitable location.The main reason is that the land listed for sale by the Yanjing Municipal Government is basically outside the Fifth Ring Road, and the land within the Fifth Ring Road has skyrocketed to a terrifying price.Take the residential land on the edge of the Fifth Ring Road as an example, the floor price of general commercial housing has exceeded [-] per square meter, not to mention the commercial land in the prosperous area.

In his previous life, Shen Fang knew that Yanjing's real estate would rise to a terrifying level. Although he was anxious, he didn't show it too much.He rejected Huo Mingda and Pan Yunxi's proposal to buy land outside the Fifth Ring Road.Just kidding, at present, Wangjing is still within the fifth ring road, and I feel a little far away. If it is outside the fifth ring road, how long will it take to run.

In the end, Shen Fang went directly to Yanjing Company of Hon Hai Real Estate. They just built a Hon Hai Home Furnishing Plaza on the Jiandemen side. It consists of two independent buildings with a height of 33 floors and a skirt building. The buildings are connected as a whole, which is a large home shopping mall of more than 6 square meters.

Shen Fang spent a total of 12 billion yuan to purchase all the property rights of one of the buildings above five floors, a total of 28 floors, an office building with a construction area of ​​5 square meters, and a two-story underground parking lot with an area of ​​[-] square meters.As a shareholder of Hon Hai Group, Hon Hai Real Estate Yanjing Company sold it to Shen Fang at an average price of [-] yuan per square meter, and the underground parking lot was basically a gift.

The building is expected to be delivered in the second half of 15. In order to solve the immediate problem, Shen Fang donated his office to Peter as the headquarters office of Wild Fox Investment Company.The two had used this mode of operation in the United States before, and Peter was used to it, and he didn't refuse too much.

"Sit down, Peter. This is your office now, and I belong to the guest, so you have to greet me." Shen Fang ignored Peter's proposal for him to be the host, but sat on the other side with Huo Mingda on the sofa.

Peter didn't have many other thoughts about Shen Fang's teasing. Shen Fang's casualness brought him back to the feeling he had when they started the Wild Fox Company in 08.It's just that Linda was replaced by Tao Chengren, and Qian Bin was added.

Peter ordered his assistant to bring coffee to several people, and then, together with Shen Fang, Cai Ruiheng and Huo Mingda as the shareholder representative, listened to Tao Chengren report on his achievements at the "First World Internet Conference".

"At this conference, we have invested in a total of 5 companies seeking financing, including five angel rounds, eleven B rounds, and C rounds. We did not accept the D round investment request. The total investment is in $[-] million."

"Among them, the amount of angel round financing is the least, only 1500 million U.S. dollars. The least is Yikuaibao's investment of 20 U.S. dollars, followed by..."

"Among them, Huang Zheng, who we are most optimistic about, is a social e-commerce group buying project, but he does not accept our exclusive investment. In the end, we pulled Goose Factory to invest together. We invested 1000 million US dollars and held 20% of the shares. According to Shen In general, 15% of the voting rights will be held by Huang Zheng."

Cai Ruiheng had a disagreement with Peter about this project. Shen Fang once invested in Groupon in the United States in the name of Wild Fox Company. This website mainly focuses on group buying.Later, in June 2012, Shen Fang sold 6% of its shares to Sequoia Capital for US$10 billion.Groupon, on the other hand, rushed to a market value of nearly 12 billion US dollars after its listing, but then fell rapidly. The current market value has just exceeded 200 billion US dollars, and its depreciation has nearly doubled. Sequoia Capital has suffered a big fall.

At present, the outside world is generally not optimistic about the group buying model, especially the online shopping market in the Huaxia market has been occupied by the giant Ali's Taobao and the later star JD.com.Even Vipshop and Jumei, which have already landed in the United States, are viewed by external capital as long-term bearish.

This is also the focus of the differences between Peter and Cai Ruiheng.Peter, who has just returned from the United States, believes that it is impossible for China to develop a new Internet shopping platform.And Cai Ruiheng, who came to China two years earlier, has been in the Yangtze River Delta region with the fastest economic development in China for a long time. Vigorous development, which is the basis for the development of online shopping industry.

Shen Fang and Cai Ruiheng have communicated before. With the rapid development of the mobile Internet, online shopping will no longer be based on PCs, but will shift to faster and more convenient mobile platforms.At present, Huang Zheng's idea of ​​group buying is based on this platform. Taobao and JD.com have no major platforms for their efforts, so it may be possible to succeed.

In the end, Peter, who came to China for the first time, had reservations. Wild Fox Investment Co., Ltd. and Goose Factory made an angel round investment in Huang Zheng. This company without a product has a market value of 5000 million US dollars. Huang Zheng, who resigned from Google, gained a life in Wuzhen. largest investment in

After the angel round investment report, Tao Chengren also reported on the B-round financing and C-round financing projects that he participated in, including many companies with promising prospects such as Xiaohongshu, Tuhu, and Tuniu.Among them, B invested the most in the financing of the online question-and-answer community "Zhihu". Wild Fox invested a total of 2200 million US dollars.In the C-round financing plan, a company called "Momo" invested more than 2 million US dollars. This social software, which is similar to Goose Factory's WeChat, has more than 5000 million active users, and it has already posed a serious threat to WeChat.

What interested Shen Fang the most was a company called Dajiang Innovation from Shencheng. The founder of this company, Wang Tao, is from Hangzhou and graduated from Xiangjiang University of Science and Technology.He was engaged in the research of multi-axis aircraft when he was in college. He once developed an AI algorithm for "automatic obstacle avoidance", which was commented by many foreign media as "the most representative robot in the world in 2014".

However, on their epoch-making non-professional UAV, they encountered some other difficulties. This is the dynamic grating capture system. If they want to mass-produce, they must find a suitable visual solution provider.And PrimeSense&RealFace, a company wholly owned by Wild Fox, is one of the best.So at this Internet conference, they found Peter, hoping to obtain a patent authorization.

With a precise business vision, Peter and Cai Ruiheng saw the broad prospects of the non-professional drone market in the future. They proposed to buy shares in DJI on the terms of patent authorization and cash investment, and promised not to interfere with the management's decision-making.Wang Tao gave an answer after thinking for a day. Wild Fox Investment Company occupied 2000% of DJI's equity at a premium of 15 million U.S. dollars and over 8%.If DJI invests in mass production, Wild Fox can make additional investments.

After Tao Chengren's report was over, Cai Ruiheng continued: "Mr. Shen, the day after you and Ms. Mohan left Wuzhen, Jia Yaowei from Lesi Company came to us. He proposed a closed-loop ecological chain plan, hoping to get our cooperation. support."

"What do you think?" Shen Fang looked at Peter, Huo Mingda and others.

Cai Ruiheng has already discussed this matter with Peter, and Peter expressed his opinion based on the materials he has obtained recently: "Jia Yaowei's Lesi.com has been performing very well since it was listed on the China Growth Enterprise Market. The long-term trend is very promising. Especially after the launch of Lesi’s smart TV, it has increased its support for Lesi.com. Although Lesi.com is currently surpassed by our kiwifruit in terms of content, if Jia Yaowei can focus on Lesi With the development of the Internet, the performance in the market outlook should not be bad.”

"Lesi.com's stall is a bit big. Although Lesi's smart TVs have performed well in the market, they don't have their own factories, they are all OEMs, and their profits are relatively weak." Huo Mingda has some opinions of his own: "And Lesi Lesi Films, a subsidiary of Siwang, has invested in several films in the past two years that are not satisfactory, especially the two films "Taiping Wheel" and "Tai Chi" that participated in the investment, which caused them serious losses, which have affected Lesi.com's business. Valuation."

Shen Fang looked at Cai Ruiheng: "This time Jia Yaowei came to us mainly because he wanted us to invest in some projects? According to his financing methods, there should be no shortage of funding sources."

"It's the mobile phone industry." Cai Ruiheng still admires Jia Yaowei. As a resigned from Morgan Stanley's investment department, he has seen countless entrepreneurs who can tell stories in Silicon Valley, but he did not have such a mature idea for Jia Yaowei: "He proposed A closed-loop ecological plan with one cloud and seven screens, preparing its own Lesi Cloud platform, and then forming an ecological chain of TV, mobile phones, automobiles, sports, music, film and television, and finance, and growing into an integrated platform, content, terminal and application The complete 'ecological world' of

Shen Fang took a sip of coffee and smiled dumbly: "Mr. Cai, are you attracted by his plan?"

Cai Ruiheng smiled embarrassedly: "To be honest, Peter and I are really looking forward to his plan. Although our Wild Fox Company is also building an ecological chain under your guidance, Mr. Shen, we are too involved Narrow, mainly engaged in the film and television industry, even the theaters, film and television cities and ticketing software that are controlled by the company also serve this industry.”

Shen Fang shook his head, couldn't help laughing and said: "Mr. Cai, have you considered what is the most important link in Jia Yaowei's ecological chain?"

"Le Siyun?" Cai Ruiheng asked uncertainly, and Peter, Tao Chengren and others also looked at Shen Fang.

Shen Fang nodded and said: "Yes. If Lesi focuses on developing its own cloud platform, focusing on content, and expanding the platform's interface applications, there is still a lot to be done for this project. Only focus on its own main business, instead of All industries involved are included."

"The success of Lesi Super TV has made him a little bit smug, and now he is preparing to get involved in the mobile phone manufacturing industry. Unlike TVs, the main technical content of mobile phones is on the screen." Shen Fang explained to several people: "Huawei Company, only mobile phone research and development There are more than 5000 people in the department, including more than 5000 chip technology R&D personnel, so that they have their own chip technology. Rebus of Xiaomi also led a team of thousands of people to develop it for more than a year before launching My first mobile phone. It’s too late for Jia Yaowei to get involved.”

Shen Fang continued: "Even if Jia Yaowei can successfully launch his first mobile phone, he still has to take the same machine-building OEM route as Xiaomi. And the product replacement speed of the mobile phone industry is too fast, even Apple mobile phones are currently Keeping one new model on the market every year is a bit difficult for Lesi who can’t focus on the mobile phone industry.”

"This is just one of them. Another important point is that since Jia Yaowei of Lesi proposed this ecological chain plan, will he enter the automobile industry after entering the mobile phone industry? You must know that the automobile industry has more technical barriers and more investment. Big. At that time, his capital chain will be slightly broken, and I am afraid that everything will be lost."

Shen Fang's words caused Peter and Cai Ruiheng to think about it, thinking about the possibility Shen Fang proposed, Cai Ruiheng couldn't help being afraid for a while.There are also many American companies that do ecological chains, but most of them focus on one main business, such as Elon Musk's SpaceX, whose Tesla Motors was established to provide accessories for SpaceX.Microsoft Corporation, the software company he holds is all for the purpose of expanding its own Windows system.The only thing that is relatively complicated is Apple, mobile phones, notebooks, smart watches, driverless cars, etc., but he will not personally end up involved in the manufacturing industry, and all his products are manufactured by other companies.

"So Jia Yaowei's project can't be invested?" Cai Ruiheng, who had figured it out, said regretfully. He himself was also thinking about what a brilliant achievement it would be if Jia Yaowei's plan was successful, and how great it would be if he could participate in it. excitement.But now Shen Fang's bucket of cold water made him sober.

Shen Fang shook his hand: "You can participate, but I only want Lesi Films and Lesi Network."

Under the instructions of Shen Fang, Peter and Cai Ruiheng contacted Jia Yaowei. Wild Fox Company is not interested in investing in Lesi Mobile. If Jia Yaowei can mortgage the shares of Lesi.com and Lesi Films, Wild Fox Company holds a large number of shares. The capital pool can be opened to Jia Yaowei.

Although looking at the billions of dollars in cash from Wild Fox Investment Company is very eye-catching, Jia Yaowei has not agreed immediately. He is going to contact his alumni of the Yangtze River Alumni Association for financing. If he can get their support, he does not necessarily need to find a wild fox. Fox Company.

There is no shortage of investment targets for wild fox investments with huge amounts of cash.Although China's logistics industry has matured, and SF Express and Santong Yida have already occupied more than [-]% of the logistics market, Cai Ruiheng and Peter still found a suitable partner in the field of large-scale logistics and invested in large-scale express delivery. Debon Logistics is the core business.

Then, using the stage system (light source dynamic capture system) of Aoshi Technology Co., Ltd. as a technical barrier, it proposed to invest US$5 million in the Dutch company ASML to occupy a 12% stake.

The intervention request of Wild Fox Investment caused strong opposition from the three shareholders of ASML. Shen Fang instructed Peter to talk to them slowly. What is really anxious about this matter is not Wild Fox, nor Intel and Samsung, but TSMC. Wanwan Enterprise, which aspires to become the world's largest chip foundry manufacturer.

Without the company's stage technology, TSMC's idea of ​​using an immersion lithography machine to produce chips below 20 nanometers is always an idea.Intel and Samsung are also actively developing their own chip technology below 20 nanometers, hoping to bypass the technical barriers of Aoshi.If TSMC is not aggressive, their market position will be severely tested.

At this Internet conference, the large amount of cash of Wild Fox Investment Company attracted the attention of many project people. Another project found Peter and Cai Ruiheng. Li Bin, CEO of Bitauto, and Li Xiang, founder of Autohome, The two are preparing to enter new energy vehicles, hoping to get support from Wild Fox.

In the end, this project was passed by Shen Fang, and Shen Fang of the new energy vehicle has always wanted to get involved, but Shen Fang didn't have much interest in starting from scratch with them, and just like rejecting Jia Yaowei's idea, the auto industry There are more technical barriers, and some technologies cannot be bypassed. Instead of being constrained by others in the later stage, it is better to get the core technology from the beginning.

Shen Fang set his sights on SpaceX. Although he hasn't found an opportunity yet, judging from the information from SpaceX in the United States two days ago, his idea should be implemented soon.Therefore, Shen Fang arranged for Cai Ruiheng to contact Hon Hai Group and Geely Automobile in the Zhejiang Chamber of Commerce. Some industrial investments still require traditional companies like them to operate.

(End of this chapter)