You call this entrepreneurship?

Chapter 248 Quotation
Edward led the YouTube group as they walked and began to introduce the situation of the campus network.

Edward praised these new foreigners harshly.

"Campus Network is the Chinese version of Facebook. Mr. Qin established two social networking sites in China and the United States at the same time."

"Facebook's positioning is to occupy the entire Americas and Europe, while CampusNet is positioned to be responsible for the entire East Asia. We call it the East-West advance, sandwiched from both sides."

Edward gestured with his arms, bringing his two arms together in the middle, "Finally complete the merger."

David Banks, vice president of YouTube, showed a surprised expression, "Oh my God, this is a great business idea."

"The campus network has already occupied the domestic market in China. The next step is to go overseas." Edward said proudly, "Mr. Qin has more important things to do now."

"So he wants to handle the video website business as soon as possible. He has a lot of things to do and wants to focus on the social networking site."

David Banks echoed: "I hope this negotiation can have a satisfactory result."

Edward smiled, stepped forward quickly, and walked in front of Qin Shaoyan. "Hello, Mr. Qin, nice to meet you, happy new year."

"Happy New Year, Edward." Qin Shaoyan shook hands with the other party and greeted him warmly.

After a few polite words, Edward began to introduce the two parties, "This is David Banks, the executive vice president of YouTube."

"This is Mr. Qin Shaoyan, the founder of YouTube."

David Banks stepped forward and shook hands with Qin Shaoyan, "Hello, Mr. Qin, happy new year."

"Hello, David." Qin Shaoyan said with a smile, "You can call me John."

David Banks nodded with a smile. He had been in office at YouTube for less than three months, and this was the first time he met the legendary mysterious founder from China.

He is still very curious about the founder who created the YouTube website and triggered an Internet trend.

Legend has it that the founder, Mr. Qin Shaoyan, has a very mysterious origin. He doesn't even have a green card in the United States. He only travels to the United States on business trips occasionally, but every time he comes to the United States, he can create a wealth myth.

First, he created the largest social networking site, Facebook, and brought it to the world, and then he created the first video site.

Qin Shaoyan started from scratch and became a billionaire in just over a year. It is conservatively estimated that his net worth is 2 billion US dollars.

He can be considered an iconic figure among Internet entrepreneurs.

It's a pity that this boss is very low-key. He seldom goes to the United States, and even his name is rarely mentioned to the outside media. He has been making a fortune in silence.

Seeing this legendary figure standing in front of him, David Banks couldn't help but look at him a few more times.

There is nothing special about him except that he is more handsome and thinner. If there is one thing that makes him different from others, it is only his smile.

Qin Shaoyan's smile is always full of confidence from the inside out, infecting everyone.

The two sides introduced their respective team members to each other, basically just telling each other's names and recognizing each other's faces.

In a friendly and warm atmosphere, Qin Shaoyan and his people walked into the conference room.

In addition to the two technical experts Zhang Pingyi and Fan Xiaoqian, there is also Kou Zhifei, the technical director of Qvod.com.

Together with Dong Songting who is in charge of legal affairs and his assistants, there are seven or eight people in total.

In addition to Edward and David Banks, there were about ten people on the YouTube side, including translators, assistants and lawyers.

As soon as the two sides sat down, Xiong Xiaoge and his men followed in and sat down in the row behind Qin Shaoyan and others without saying a word.

David Banks looked at the group of people in surprise, and asked with a puzzled look: "Mr. Qin, who are these gentlemen?"

"These people are all shareholders of Qvod.com, and they will also attend the meeting." Qin Shaoyan said enthusiastically, "Let me introduce them to you. This is Mr. Xiong Xiaoge, the chairman of IGD, and this is Mr. Zheng Nan, the president of Sequoia Capital..."

David Banks didn't know Xiong Xiaoge and others, but he had heard of the company they represented.

IDG and Sequoia are both well-known investment companies, so David Banks quickly figured out the identities of these people and found out that they were venture capitalists.

It is only right that representatives of shareholders involved in the company's acquisition should be present, but these shareholders do not hold high shares, and Qin Shaoyan did not even think of introducing them just now.

The relationship between the two sides seems very delicate.

David Banks greeted several people politely and shook hands with them.

After the pleasantries, the negotiations quickly got down to business. David Banks spoke first, "This time I am negotiating on behalf of YouTube regarding the acquisition of Qvod.com. Mr. Qin, do you have anything to say?"

"The host is at the guests' disposal." Qin Shaoyan made a gesture of invitation, "Since we are talking about acquisition, then please let YouTube name a price."

David Banks glanced at Qin Shaoyan, then turned around and discussed with his assistant for a few words, then turned back and asked tentatively: "We calculated it based on market research and the data provided by Qvod.com, as well as Qvod.com's first round valuation."

"Our offer is one hundred and twenty million US dollars."

Everyone at Qvod was very surprised. Those who didn't know the details looked at each other and couldn't help but start discussing.

Kou Hongfei was the most excited, as he was the one who founded Qvod.com just over two months ago.

In just two months, the value of a small Qvod website reached 120 million US dollars.

You should know that the initial valuation of Qvod was only 12 million US dollars, which has increased tenfold.

Could this be the legendary Midas touch that turns stone into gold?

President Qin is truly an amazing person.

The employees who were kept in the dark were excited, as if they were about to see the birth of a new Internet myth.

But Qin Shaoyan's expression was very calm, and he seemed not impressed by David Banks' offer.

It has to be President Qin. This is the true demeanor of a great general. He can keep calm at the critical moment.

He shrugged off the $120 million offer.

Kou Hongfei felt a little ashamed for a moment. They showed their weakness as soon as the other party made the offer. If he was leading the negotiation, it would be a complete failure because the other party had already known what was in their mind.

Compared to the excitement of Qin Shaoyan's men, the venture capital side reacted completely differently.

Xiong Xiaoge showed a sneer on his face, Qin Shaoyan, you are tying yourself up in knots.

Zheng Nan's expression also relaxed and he watched the negotiation with great interest.

Only Xu Xin began to worry, thinking about the offer of 120 million US dollars.

If Qvod had not been acquired, this figure would have been the valuation for the next round of financing.

The valuation has increased tenfold in two months, which is an outrageous speed.

Xu Xin began to hesitate, wondering whether Today Capital should follow or not if the next round of financing started now.

If you follow it, the valuation will increase too fast, the money invested will be too much, and the risk will be too great.

It would be a pity not to follow. Qvod increased its valuation tenfold in two months and was recognized by its competitors.

Such a high-quality project has huge potential in the future. If you don’t invest in it, you may miss an opportunity to make a fortune.

"One hundred and twenty million US dollars is your offer?" Qin Shaoyan asked calmly. David Banks saw that Qin Shaoyan's face was not right, and he was a little unsure. He turned to look at Edward with a questioning look in his eyes.

Edward pretended not to see anything and sat there like a puppet, remaining silent.

David Banks said cautiously: "Mr. Qin, do you think this offer is inappropriate?"

"It's very inappropriate." Qin Shaoyan smiled slightly, "If we simply judge based on Qvod's performance and future growth potential, 120 million US dollars may be a suitable price."

"But the value of Qvod is not just considered as a simple video website. YouTube also needs to consider the other values ​​that Qvod brings."

David Banks asked doubtfully, "Like?"

"For example, a qualification to enter the Chinese market." Qin Shaoyan took a folder from Zhang Pingyi and took out photocopies of two documents from it.

"This is the "Information Network Audiovisual Program Transmission License" and the "Radio and Television Program Production and Operation License" issued by the Chinese administrative agency."

"The value of these two licenses is higher than that of Qvod itself, which means Qvod has the permission to produce and distribute its own film and television programs online."

David Banks took the two documents, looked at them for a few seconds, and then discussed them with the translating lawyer.

With the help of his assistants, David Banks quickly understood the meaning of the two licenses and was immediately shocked.

While YouTube is still considering the legal issues brought about by video infringement on the American Internet, Qvod, on the other side of the ocean, has already begun preparing to produce and distribute film and television dramas.

This is completely impossible in the United States, as Qvod is already far ahead of YouTube.

After quickly evaluating the value of the two documents, David Banks probably realized what Qin Shaoyan was thinking. He made another offer and said, "Three hundred and sixty million dollars, how about this offer?"

There was an uproar in the meeting hall and everyone was shocked.

Three hundred and sixty million US dollars, this valuation has increased thirty times.

Kou Hongfei, who was sitting next to Qin Shaoyan, was so excited that he almost collapsed to the ground, his mind went blank.

You know, he has options for Qvod.

Three hundred and sixty million US dollars, which is about three billion RMB, is worth nearly one hundred million after converting the options in his hands.

I became rich. In just two months, I went from a low-level programmer to a billionaire!

Of course, all this is based on the premise that the acquisition is completed smoothly.

Everyone looked at Qin Shaoyan excitedly, waiting for President Qin to speak.

At this time, Xiong Xiaoge couldn't sit still anymore. That was 360 million US dollars.

If the transaction can be successfully completed, Qvod will become the most cost-effective project he has invested in.

He felt a little hesitant and decided to just let Qin Shaoyan sell the website.

After the website is sold, wouldn't it be nice for everyone to divide the money happily? Why bother calculating and arguing with each other?

The easiest way is to get the money and then invest it in the next project. It’s so cost-effective.

Wait, don't be impulsive.

Xiong Xiaoge quickly calmed down. He glanced at Zheng Nan to see how he would react.

When Zheng Nan saw Xiong Xiaoge looking at him expressionlessly, he immediately understood what he meant, so he shook his head to express his refusal.

Only Xu Xin was still hesitating, wondering if the offer of 360 million was a bit outrageous.

As they all work in venture capital, Xu Xin is considered to be knowledgeable, but this is the first time she has seen such a scene.

It doesn't mean the higher the valuation, the better. This thing also has its own calculation method.

Valuation is actually very abstract. Only the valuation recognized by others is a positive valuation.

You can claim that a website is valued at 1 billion yuan, but if no one recognizes it, you can’t sell it even for 10 yuan.

If someone recognizes this 1 billion yuan and pays real money to certify this valuation, then it is true.

It would be good if Qin Shaoyan, for example, made YouTube offer $360 million for the product, but it would be good if the product was actually sold.

If I don't sell it and instead use this price to ask Xu Xin to raise funds, then should I invest or not?

Qin Shaoyan is a shareholder of both Qvod and YouTube. It is shameless of him to raise his own valuation.

Even if Xu Xin and his colleagues agree with this valuation, their peers outside will definitely not agree with it, which means that the valuation of 360 million US dollars is invalid.

Qin Shaoyan hesitated for two seconds and said slowly: "YouTube's valuation is very objective. I think it is still in line with the current value of Qvod."

"But we still need to discuss the acquisition and hold an internal vote."

David Banks was a little surprised, then nodded, "Then shall we adjourn for now?"

"Okay, everyone take a break first." Qin Shaoyan said, then stood up and walked out of the meeting room.

Xiong Xiaoge stood up with a stern face and said nothing, then followed Qin Shaoyan out of the meeting room.

Zheng Nan and Xu Xin also followed and walked into his office with Qin Shaoyan.

After entering the office, Xiong Xiaoge sat directly on the sofa and looked at Qin Shaoyan with a half-smile, "Boss Qin, three hundred and sixty million US dollars, this is not a small appetite."

"This has nothing to do with me." Qin Shaoyan explained.

"I don't care about that." Xiong Xiaoge looked at Qin Shaoyan and said, "Boss Qin should just sell Qvod."

"Huh?" Qin Shaoyan asked curiously, "Boss Xiong advised me not to sell it before, why do you regret it now?"

"Your valuation of 360 million US dollars is too high." Xiong Xiaoge said calmly, "IDG can't afford it. Let's sell it for money as soon as possible and disband."

Qin Shaoyan turned to look at Zheng Nan and Xu Xin and asked for their opinions.

Zheng Nan said nothing, while Xu Xin frowned, not knowing what he was thinking about.

……

David Banks was discussing the recent offer with his assistant in the conference room, feeling secretly delighted.

The price of 360 million US dollars was not something he just said randomly. Instead, someone had told him before he came to raise the price as high as possible.

Now seeing Qin Shaoyan's reaction, it seems that the price he called out was right. Regardless of whether the acquisition is successful or not, his work has been completed successfully.

Just when David Banks was feeling smug, his phone suddenly rang.

He glanced at the number, quickly answered the call, and then was stunned.

"What? Negotiations cancelled? Not buying anymore?"

"Why?!"

(End of this chapter)