After divorce, I can hear the voice of the future

Chapter 245: Reverse Index Rises
This time, Panda is raising funds publicly.

Pusi plans to lead this round of investment with US$4000 million, partly because Xiao Wang is determined to go all out.

On the other hand, the market is not particularly convinced by Panda's valuation of US$500 million.

If three days ago, Panda was the only company in the entire market doing live streaming sales, with a valuation of US$500 million, all kinds of capital would definitely flock to it.

But three days later, Douyu quickly followed suit, with its trading volume rising rapidly, and with the support of Penguin Capital, Panda gradually lost its first-mover advantage.

According to Xiao Wang's estimation, including the US$2000 million invested by Lu Liang, the total amount is only about US$6000 million. In order to verify the valuation, he must invest a minimum of US$4000 million.

This is why Lu Liang often says that sometimes the valuation of a company is particularly fictitious and cannot be used as a practical reference standard.

Just like the launch of Ideal ONE, its valuation directly soared from US$20 billion to US$30 billion.

This number sounds nice and looks good.

But if Li Xiang went to the bank for a loan, he probably wouldn't be able to get $100 million, because only four companies, namely Tianxing, Meituan, Matrix Partners, and Mingshi Capital, recognized its value.

They are all co-founders of Ideal. Before Ideal Auto gains market recognition, they will continue to invest money until it goes public or the company's valuation is recognized by the market.

It is also a bit like the buying and selling rules of antiques, calligraphy and paintings.

The first-hand auction price is 500, and the second-hand auction price is 5000.

Before the value is recognized by the market, the seller needs to transfer the property from one hand to the other until a buyer appears.

As long as there are a few rounds of speculation, a low price can be driven up to a high price, because more people participate and no one wants to get a loss.

But it is also different. At least ideally there is room for development, and it is not just a pure capital game of passing the parcel.

Just after 10:01 in the morning, most of the interested investors had arrived. Xiao Wang walked up to the stage with a smile on his face, dressed in a suit and tie.

"Before May last year, the market had always believed that the e-commerce platforms at that time had become mature, and all ecological niches were occupied by Taobao and JD.com. However, the emergence of Pinxixi changed the situation of e-commerce."

“There has never been any fixed market, it’s just that there’s a lack of smell to discover the market.”

"So Panda took the lead in making changes, combining e-commerce and live streaming, and promoting the online shopping guide model."

"It took Taobao two years and ten months, Pinxixi three months and twelve days to grow from zero to 100 million yuan in transaction volume, but it only took Panda six days."

Xiao Wang talked eloquently and kept praising the panda.

Such as industry leader, reform pioneer, and so on.

Lao Ma once said that he was very pleased to see the development of JD.com, because the existence of Taobao was to cultivate more JD.com.

The background of this sentence was the verbal battle between Lao Ma and Qiangzi, but it did not prevent Xiao Wang from borrowing it and applying it to the panda.

If Taobao is the 1.0 e-commerce model and JD.com is the 2.0 e-commerce model, then Panda, the live shopping guide, is the 3.0 e-commerce model.

How can you brag? No matter how you do it, thousands of words can be summed up in one sentence: five hundred million dollars will not buy you any loss or fool you.

Ali’s market value is 2400 billion US dollars, JD.com’s market value is 380 billion US dollars, and Panda, the e-commerce 3.0 company, has a guaranteed future value of 200 billion US dollars. If you invest in it now, you can still get a 40-fold return.

“Mr. Wang’s speech was indeed of a certain level, and he must have done his homework, but this model is too easy to copy. Douyu has more potential, and Huya and Bilibili are also following suit.”

"There is also Kuaishou, and Douyin may have noticed it too."

Even though Wang Xiaocong said a lot of fantastic things, the subscription room was still deserted, indicating that the investors present were not buying it.

There is an unwritten saying in the venture capital industry: either invest in the number one player and let him stand out and lead the industry, or invest in the number two player and let him surpass the number one player.

Either invest in the last one and get high returns with low investment.

The position of the third largest Panda is a bit awkward, especially since it is facing the first and second largest companies who both accepted investment from Penguin.

Under the implementation of Penguin's big entertainment plan, the two companies are destined to merge and go public in the future. At that time, they will dominate the world and be the only ones in power.

The third panda is in danger!
It is understandable that investors are pessimistic.

Xiao Wang looked a little embarrassed, although the internal investment was 6000 million and Pusi led the investment with 4000 million, a total of million was just right.

But there is no competitor except Lu Liang, and those investors might put forward some outrageous conditions.

You may even regret it temporarily, because the rule of chasing rising prices and not chasing falling prices applies to almost anyone and anything.

Lu Liang had a smile on his face. How could he let his Ah Cong fall into such a dilemma? He turned around and instructed Wen Chao.

Wen Chao nodded and went straight to the subscription room.

He is Lu Liang's assistant, and many people present know him.

Seeing him go to the subscription room, one by one, the investors started to get excited.

It is true that Wang Xiaocong and Lu Liang are friends, but Lu Liang is well-known as a very rational investor.

Just like the last round of financing, and the round before that, Panda faced a crisis where its capital chain was almost broken.

As the co-founder of Panda, Lu Liang did not invest a penny, which shows that relationships are relationships and business is business.

And this time he voted.

Lu Liang's vision is unquestionable. With so many people present, no one dares to say that their vision is better than his.

Does this mean that Panda can still succeed in launching an online shopping guide model even with the two huge competitors of Douyu and Huya?

Soon, Wen Chao walked out of the subscription room.

The financing and subscription intention office went from being deserted to being crowded with people, just because Lu Liang invested.

Seeing this scene, Xiao Wang cast a grateful look, but the look was a little hard to describe. He had been talking on the stage for so long, but was not as good as Lu Liang's one move. He felt frustrated.

Lu Liang patted his shoulder and comforted him with a smile: "We just lack a leader." Xiao Wang felt a little better. Lu Liang was not always so mean and could occasionally say a few human words.

The next second, he decisively retracted the idea, and Lu Liang said with a smile: "But the person who takes the lead is more important."

Xiao Wang's face darkened, but suddenly turned into a smile: "The person who takes the lead is indeed the key."

He repeated to himself ten times that Lu Liang was a pervert. So many big guys had failed in front of him.

He is an old man, and as long as he thinks about the problem from a different angle, his mood will suddenly become brighter.

Lu Liang was slightly sad and sighed, "Xiao Cong, you should recover a little. I am not used to you being like this."

Wang Xiaocong gnashed his teeth and looked unkind: "Do you want to die?"

Xiao Wang was joking, Xiao Cong explained that this guy already treated him as a junior in his heart. How could this be tolerated by the founder of a company valued at $500 million?

"That's more like it." Lu Liang smiled.

Panda's Series C financing,
There are 12 institutional investors, large and small.

Pusi invested US$3000 million to lead this round, followed by Tianxing and Qihoo with US$2000 million each.

The remaining $3000 million in subscription shares were divided up among nine large and small institutions or independent investors.

After the C round of financing, Tianxing's stake in Panda also increased from a diluted 8.2% to 12.2%, making it the fourth largest shareholder after Xiaowang, Qihoo, Pusi and Jinshajiang.

Currently, the company has invested approximately US$2500 million and its equity holdings are valued at US$6100 million, which seems to have more than doubled.

But the same thing goes, valuation is valuation, value is value, and if the company is not listed, everything is false.

Lu Liang planned to leave. He was not interested in what would happen inside Panda next. He already knew everything he needed to know.

Just as he was about to leave, he was suddenly stopped by the red-robed leader.

360 had a great start. In the 3Q war that year, it even overwhelmed Penguin in public opinion. Now it is infamous and has become the king of lending. Zhou Hongwei has made an indispensable contribution to this.

"Hello, Mr. Zhou."

Lu Liang stopped and chatted with Lao Zhou for a while.

Qihoo, which has become a lending king, is very rich. Seeing that Lu Liang is so optimistic about the new energy market, he is also a little tempted.

I have been chatting with Fang Yunzhou of Chery recently. He plans to invest in him and set up a new energy brand called Nezha. He asked Lu Liang if he is interested in participating in it?
"Mr. Zhou, I'm sorry, I don't have any plans to invest again for the time being."

Lu Liang shook his head and declined. NIO and Ideal had just started and there were still many places waiting to spend money. He couldn't afford to invest in similar products again.

"That's fine."

There was a flash of disappointment in Lao Zhou's eyes. Qihu was fully capable of supporting Nezha on its own. Bringing in Lu Liang was just to provide an extra layer of protection. It would be best if he had it, but if not, he wouldn't force it.

360 is not LeTV, they are not short of money.

In the evening, Lu Liang returned to the company and continued to pay attention to the second phase of the A-American election, the race for the White House.

Every time he thought that the future leaders would emerge from these two, he would sigh at the freedom of Americans.

One is a real estate tycoon who reached the pinnacle of power, and the other is the first woman since the founding of the country.

No matter who wins in the end, there will always be a lot of topics.

It’s still up to Amei to make a living. If she doesn’t make any noise, then nothing will happen. But if she does, she will make a big difference.

"For businessmen, it may be difficult." Lu Liang suddenly sighed, because he saw the 'businessman's reverse indicator' soared.

The 'trader's reverse indicator' is like the new energy concept themes and AI intelligent concept themes of the domestic A-shares, a concept created specifically for traders.

These include the Mexican peso and the yield on the 10-year U.S. Treasury bond.

The former, because of businessmen's advocacy, wants to expel millions of illegal immigrants every year and strictly prohibit the influx of illegal drugs and other social issues, and even threatened to build a border wall.

Importing drugs into the United States and illegal drug production have become two important economic industries in Mexico.

The businessman's political declaration is obviously intended to break Mexico's arms, which will affect the value of the peso.

The yield on 10-year U.S. Treasury bonds rose as businessmen tended to impose import tariffs to bring funds and industries back to the United States.

These companies and funds may not be willing to, for example, have an employee with a monthly salary of 3,000 yuan or a monthly salary of 3,000 US dollars.

Normal companies know what to choose, but they cannot resist, so funds will flow into financial markets such as US bonds in a silent protest.

The Mexican peso surged, and risk assets such as the U.S. stock market strengthened, which is the strongest evidence that the market believes Larry won the debate.

"Merchant, what do you have to win?"

Lu Liang muttered to himself, waiting for the arrival of early morning.

Although the businessman's behavior is a bit exaggerated, his values ​​and governing principles are obviously more like those of a normal person. He truly cares about the country and the people. It is no exaggeration to say that he is loyal to the core.

But to get involved in this world, power is important. His opponent is the wife of his predecessor, and he also has the full support of his predecessor.

The two terms together have a total of sixteen years of political legacy. In comparison, businessmen are penniless except for money.

The gap between the two sides is greater than 800,000 versus 600,000. This wave of advantage is even greater than mine.

What do businessmen have to win? It’s no wonder that the market is generally optimistic that Larry will win this election.

　I took the elderly at home for a check-up these days.

　　I have to go again tomorrow, so there is only one chapter today.

　　
　
(End of this chapter)