Love? I'm reborn and I just want to get rewards

Chapter 366: Rest easy

The crucial pricing rationale has been given, but pricing remains a challenge.

Because no matter how it is decided, it will harm the interests of some people.

Su Huai motioned for them to look at the document: "It contains our Xingyu's half-year financial report. Do you think Xingyu is worth 100 billion US dollars?"

Li Jiaqi and Li Ziqi cannot understand the financial reports for the time being and can only simply focus on the cost and profit parts.

In the first half of 17, Xingyu’s total revenue was 37.58 billion and its total expenditure was 32.11 billion.

Among them, May and June contributed 5 billion in revenue, while the first four months combined only contributed 6 billion.

Therefore, this semi-annual report cannot fully reflect the current value of Xingyu. Su Huai reminded them to look at the simple monthly report in July.

In July, revenue was 7 billion.

Yu Ji contributed 1.6 million, of which 1.2 million was from live broadcast salary and turnover income, a steady decline, in line with the daily state with few activities; business cooperation was 4000 million, a small explosion.

Zhang Dayi held two brand women's clothing shows, which, together with her regular live broadcasts, contributed 1.8 million yuan in revenue.

Li Jiaqi has been live streaming steadily and currently makes a profit by collecting commissions, contributing 2300 million in revenue.

The income from this live broadcast is already quite high. He sold about 2 million beauty products, with an average of 700 million per show.

Of course, compared with his peak efficiency of 2 million per game, it is still far from it.

Quanquan is still promoting the Baobao Pear, and has developed several new products, but for the time being, there is nothing that can make Su Huai particularly satisfied, so he stabilized the pace of posting videos and took on a few business deals.

Total revenue contributed: 2000 million.

Li Ziqi has no revenue yet, and has received a lot of advertising offers and business collaborations, but Su Huai turned them all down.

Therefore, there is only negligible overseas YouTube revenue and rewards for content creators on domestic platforms.

The top male and female hosts of major platforms, led by Liu Zigui, together supported 1.5 million yuan in revenue.

This is mainly due to Xingyu’s strong premium ability. No other live streaming platform splits the profits 65-75. Xingyu takes at least %, and some can get as much as %.

As a result, a large number of middle and lower-level anchors contributed an explosive amount of 8 million in revenue.

Among them, there are more than 7 million online and tens of millions offline, and the proportion is temporarily unbalanced.

The remaining fraction was contributed by the Xingyu (Dubai) branch, which has just started up and has great potential, but it takes time.

"Hiss... it's so scary!"

Li Ziqi was so shocked by the numbers that were beyond her imagination that she couldn't speak clearly.

The others felt the same way and found it extremely incredible.

"Our Xingyu has only been established for less than a year, right? Really..."

Su Huai shook his head.

"Everyone present here is a core member of the company, so it's time to officially announce the news to everyone."

"Um?!"

Everyone looked up at the same time, sensing something not so good.

Su Huai said calmly: "Since Xingyu is now able to walk independently, the largest investor behind the company has decided to stop blood transfusions. From now on, the rankings of the top female stars will not explode like this."

"!!!"

Everyone looked at each other, finding it hard to accept for a moment.

But soon, Zhang Dayi was the first to react: "As it should be, the momentum has been built, and it's time to slow down and recover the funds."

Li Jiaqi also nodded: "Our middle and lower-level anchors contribute most of the revenue. It is no longer meaningful to maintain the top traffic. We just need to focus on preserving Sister Yu's reputation."

Su Huai watched them quickly accept the reality and couldn't help but smile with relief.

The core of the Level 3 system is attribute transfer, so it loses its money-related functions. From now on, he can no longer spend money recklessly.

As a result, the rankings of all the top female stars in the company will be greatly reduced and return to normal.

At most, Su Huai would take out 2000 million from his pocket money every month to give to his good daughter to maintain her absolute leading advantage.

According to a rough calculation, whether her total turnover in August can reach 8 million is a big hurdle.

To do this, he even had to rehearse a script with Yu Ji to turn the whole thing from bad to good.

As for the other top female celebrities, Su Huai couldn't care less. He would slowly clear the account inventory and let the small accounts log off the Internet one by one.

They can only walk the rest of the way on their own.

Moreover, the new situation will severely test their mentality, emotional intelligence, resilience and vision.

Only those who can hold on are qualified to continue to be the number one sister.

Once you can make another breakthrough, you will be qualified to accumulate strength and strive for S-level.

“So I want to ask everyone, is Xingyu worth $100 billion?
After losing the transfusion from investors, not only will our revenue be reduced by 3 million, but the top anchors who have lost their status as the top anchors may also bring about a chain reaction, leading to a larger-scale decline.

What do you think about this matter? "

"I think it's okay."

Zhang Dayi shook her head, glanced at Gu Jiuyue, and then smiled and said, "In fact, our Xingyu has never been worth 100 billion US dollars!

It's all thanks to you and Mr. Gu, who worked hard to raise our valuation, but I always knew the situation.

With my low profit contribution rate, it was hard for me to support a RMB 30 billion enterprise. It doesn't make sense that four of me combined would be worth RMB 4 billion, right?
If there really is 650 billion RMB, I am not worthy of a 15% stake!

The reason is very simple.

Don't always think that I, Zhang Dayi, am profit-driven. When I first cooperated with Mr. Feng and others, I held a very small share, but there has never been any conflict in this regard.

My real unhappiness with them mainly occurred in the direction.

In order to achieve the profit requirements for listing and attract external investors, my partners advised me to expand the product line and realize cash as soon as possible.

They even contacted me for lipstick OEM without waiting for my complete consent.

Do you think I don't know that doing this will damage my fan credibility?
In fact, I know it very clearly.

However, being in that position, pressure from all sides follows you everywhere.

Taobao puts pressure on me, my partners put pressure on me, my employees put pressure on me, my no longer young self and the chaotic and unknown future put pressure on me...

But at this moment, you showed up at the right time.

I am very fortunate to come to Xingyu and become a part of your plan.

Here, I still feel pressure, but I have become simpler and more focused. So you can judge how much Xingyu is worth, and that’s how much it is worth. I totally agree.

As for how much my shares need to be diluted, you can go ahead and do it. I'll be here, waiting for the confirmation letter to be signed."

Without waiting for Su Huai to be moved, Li Jiaqi immediately raised his hand.

"Boss Su, put yourself in our shoes. Everything you and the management have done is seen by everyone in the company.

Without us, Xingyu will at most develop more slowly, but without you, there will be no development at all.

I have also briefly learned about other MSN agencies, and they have to record any 100 yuan spent on their anchors in their accounts.

And the money that our major shareholder spent on marketing and traffic generation was not recorded in the financial report at all. I have never heard of such a situation.

It is really a great honor for me to work with you all and build a great company like Xingyu.

Besides, you have explained the reason very clearly before, and I agree with it. Now just take out a contract and I will sign it right away. There is no problem at all.

The reason why I want to continue listening is actually to learn and understand your valuation ideas.

In addition, it also gives us a more comprehensive understanding of Xingyu."

Who said Li Jiaqi has no emotional intelligence?
When he is smart, he is very clear-headed and is no worse than anyone else.

As the two of them expressed their opinions one after another, the last huge stone blocking the internal structure of Xingyu was completely removed.

"In fact, my valuation of Xingyu is far more than 100 billion US dollars."

Su Huai spoke calmly and dropped a big bomb.

The reason why he went through so much trouble before was because his opinion on Xingyu was different from others, but he could not recover the equity by deceiving his partners, so he had to break the evaluation system apart and feed it to them.

“There are three reasons.

First, Xingyu’s momentum is set.

The huge number of middle and lower-level anchors and bloggers are enough to support a monthly turnover of 10 billion. Because Xingyu started early and expanded the scale of its monopoly, its bargaining power far exceeds that of its peers. For every 10 billion turnover, it can recover 7 million in revenue and 1 million in turnover rewards.

This means that for the entire second half of the year, Xingyu’s revenue data can reach 60 billion just by relying on mid- and lower-level anchors. Calculated based on a 20 times PE, a valuation of 1200 billion is not excessive.

Of course, given the characteristics of our industry, a PE of 20 times is impossible, but a PE of 8 to 10 times is relatively normal.

Let’s take a middle value and say 500 billion.

Second, the radiation and driving ability of the top anchors.

Although I have just talked to you in detail about the total traffic pool and the nature of the traffic today, in fact, we have been using the influence of top anchors to radiate the outside world.

There is no anchor or blogger that Xingyu cannot get his hands on, which is a manifestation of his influence.

Xingyu Internet celebrity’s offline business is in full swing, doubling every month, which is also due to his influence.

On all major live streaming platforms, the super administrators are very friendly to the Xingyu anchor, and the players are quite supportive of the Xingyu anchor, which is also an effect of radiation of influence.

Finally, the mid-level anchors who were directly brought up by the top anchors such as Yu Ji saved the company a lot of resources, brought rich returns, formed a very good virtuous circle and pyramid structure, and can completely stabilize the subsequent profit needs.

You guys haven't started taking action in this area yet, but in the second half of the year, everyone will have to take action.

Jiaqi, you need to bring a few assistants. I will give you enough time to slowly select and try them out. By the beginning of next year, you need to have three stable live broadcast assistants who are worth training. You can choose them from our company's anchor pool.

Sister Yi, you should also cooperate more with the company's fashion talent.

Ziqi...Ziqi, forget it. You can’t lead others in this track. Just focus on yourself.

At this moment, the personal IP value of all of you top people is estimated by Shi Zeyu using a model and the result is 150 billion. He gave the dehydrated net data.

But I think that by the end of the year when we actually launch the plan, you will have a lot of growth, double it to about 300 billion.

Third, the profitability of overseas branches far exceeded expectations.

I have been in Dubai for more than half a month, and I can basically confirm that the branch's own platform GiGo is very popular and the camel meat there is thick and fat.

It is expected that GiGo will become our most profitable platform asset, beating Panda by a long way.

By the end of the year, my valuation will soar to at least 100 billion US dollars.

So you see, the problem is not that Xingyu is not valuable enough, the problem is that Xingyu is too valuable.

By the end of the year, with a net valuation of 1200 billion, the external financing offer must be around 400 billion US dollars. If we don’t hurry up and solve the equity issue now and delay discussing this matter until the end of the year, I doubt that everyone will be able to remain calm. "

"Wow!"

Xiao Gu exclaimed: "How can it expand so quickly?"

Su Huai smiled and spread his hands: "This is exactly the problem. We are about to enter a period of explosive growth."

Zhang Dayi and the other two looked at each other in bewilderment. Apart from exclaiming and staring at each other, they were unable to form any decent words for a moment.

"Is it really that exaggerated?"

"Yeah." Su Huai nodded. "There is no rival for overseas platforms in the Middle East, and there is no rival for domestic anchors. After 10 months of crazy investment and desperate running, it is finally time to reap the rewards."

"What the hell! This is bullshit!"

Li Jiaqi tried to hold back, but finally couldn't help but burst out swearing.

Li Ziqi was the first to react: "The valuation of overseas platforms has nothing to do with me. I didn't contribute anything, so don't count my share."

Zhang Dayi was stunned for a moment, then shook his head and smiled: "I am indeed not as good as you... Yes, when evaluating the overall contribution, exclude me as well."

"I must explain this to you clearly."

Su Huai said frankly: "90% of this part of the profit is attributed to me personally, and 10% is attributed to the convertible bonds provided by Xiao Gu. The reason why I did not separate GiGo and open a separate company is that I hope to use the overseas success to enhance Xingyu's reputation and prestige, and add weight to Xingyu's external negotiations.

At that time, I thought there might be some trouble, but I still chose to trust you and share this part of the profit with you."

What is a top-level liar?

As soon as these words came out, the three of them were almost all lame, with tears in their eyes, and they were so moved that their emotions half collapsed and their defenses broke down.

“There’s no need to share the profits…”

"That's different."

Su Huai interrupted Zhang Dayi's refusal and said with a smile: "When the equity is reset, Xingyu Dubai will definitely not be counted, but when the equity is settled, you can get as much dividend as you deserve. Business is business, and feelings are feelings."

Cry, cry for me!

Although Xingyu Dubai's profit is only tens of millions according to the financial report, they have achieved the current results after only 10 days of opening the site. They have no doubt that GiGo is a platform that can make a lot of money.

How lucky I am to meet such a leader who is willing to share the profits!
Zhang Dayi choked up and said, "Just tell me how much my investment equity and traffic equity are. If I were transferred to Xingyu, I would be worth more. If I were sold as a package, I would only be worth 15 billion. Now I don't know how many times it has increased. I am very satisfied."

Upon hearing this, Su Huai stopped preparing for the event and gave the data directly.

“You and Yu Ji will each hold a 5% fixed stake in the end, and the rest will be split out and placed in the traffic pool.

During the first phase of the entire share reform, there were only four people holding fixed shares.

Me, 35%; Mr. Gu, 10%; you and Yu Ji, 10%.

Cheese’s total 5% dividend equity will be transferred to the overall management reward pool, which will still be dividend-only and follow the position.

20% of the option pool will remain unchanged this year and will be used to give year-end bonuses to all anchors and employees.

After the bonuses are distributed at the end of the year, it will be reduced to 10%.

Then, there is a 30% interest in the traffic equity pool.

From now on, every S+ anchor will be eligible to purchase a 2% fixed equity at an internal price and receive at least 1% of the traffic equity reward.

The specific amount of the reward will be determined based on the newcomer's traffic scale, traffic nature, and traffic value.

This determination, or assessment, is conducted annually and adjusted in a timely manner.

I have the final say on adjusting equity awards.

The cash required to purchase fixed equity can be temporarily owed and repaid slowly with commissions and dividends.

The equity purchased by individuals will be extracted from the traffic pool. For example, at the end of the year, Ziqi, Jiaqi, and Zigui will each take 2%, Quanquan will take 1%, and the equity pool will have 23% left.

This 23% will not actually fall into anyone's name. At the end of the year, the dividends will be settled. If 23% should be distributed as 10 billion in cash, then all partners will share it according to the proportion.

If there are new members, another 2% will be taken away, and everyone will share the remaining 21%.

Once you fall behind and no longer contribute to traffic, you will essentially just lose the right to share dividends, and the fixed shares will be reserved for your retirement.

But I have to be frank. If your reputation is ruined due to some personal scandal and it has caused negative impact on Xingyu, then the company has the right to recover your equity based on the net asset value at that time.

Can you accept this?"

"no problem!"

"of course."

"It's as it should be. Whoever ruins the house should clean up the mess himself. It's fair."

Su Huai smiled and continued to speak ugly words: "Another point is that I also participate in the distribution of traffic shares, and even account for a considerable proportion. Mr. Gu, as a pure financial investor, does not participate in traffic dividends.

The reason why I didn’t take back the traffic equity and convert it into personal fixed equity is because I hope that we can have as many partners as possible in Xingyu and reserve enough space in advance, not because I think my contribution is inferior to anyone else. "

After two days of being in harmony, Su Huai finally showed a little bit of his edge.

Good words should be spoken often, and hard words should be spoken occasionally. This is a skill that those in power must master.

Everyone had no objection to this and adapted well.

Li Jiaqi even flattered him: "In terms of contribution to Xingyu, no one can compare with President Su. I think you didn't take too much, but too little. I may never learn to share the benefits..."

Li Ziqi and Zhang Dayi tilted their heads in astonishment, looking at their friends who suddenly turned into flatterers, and both felt it was a bit magical.

Where is the slight arrogance you had when you first came here?
That’s gone?

Yes, it's gone, completely gone.

After two days, Li Jiaqi's most profound feeling was: So this is what a real business elite looks like? Well, I am a loser.

Why start a business? You will never be able to start a business in your lifetime. You are not worthy of it.

I'm totally crazy to be involved in a business war with someone like Mr. Su.

In fact, he was overthinking and his imagination went a little too far.

In the entire Chinese business circle, there are less than 20 tycoons like Gu Tongshu.

Su Huai, who is slightly inferior, is also in the top 50.

In the field of internet celebrities, Su Huai is the absolute number one. If the two Ma brothers want to compete with him, they will be beaten to a pulp.

It is somewhat funny to use him as a benchmark to speculate on the level of most entrepreneurs and business people.

However, Li Jiaqi's flattery was indeed from the heart, so Zhang Dayi and Liziqi also liked it, recognizing his great contribution to the entire system.

Since everyone has no objection, the matter is basically settled.

But how could Su Huai be so rough in his work?
Next, everyone started chatting, talking about whatever they were interested in. Zhang Dayi took the initiative to bring up management difficulties, and Su Huai found an opportunity and quietly inserted the key information.

“In the future, you will most likely need to open your own studios, because Xingyu will not rush to go public before its profitability declines. If you want to take advantage of the opportunity to go public, you can follow the route of studios, subsidiaries, and independent listings.

So whether you like it or not, you may have to get involved in management and independently shoulder all the power and responsibilities of a company.

Then I want to ask you, as a manager of an MCN agency, how can you obtain a high premium through management and operation in an already stable market? "

They spoke freely and talked a lot.

Although their ideas are very fragmented, it can be seen that they are all people who love to think.

Finally, Su Huai gave his answer.

"We need to have a deep understanding of the market, look at more data, analyze more data, and question the logic behind the data. Finally, we should be demand-oriented and try to cover as many and most urgent needs as possible when making each decision.

Entrepreneurs in the new era must no longer rely on intuition, but must instead dig out high-premium opportunities based on data.

This idea is different from all the management and success books you may have read.

Those textbooks and autobiographies talk about the successful experiences of the previous era or even the era before that, but we are facing the future.

Entrepreneurship must pursue high premiums, but in every era, the qualities that can bring high premiums are different.

Thirty years ago, the quality that could bring the highest premium was academic qualifications.

How valuable were undergraduate students from prestigious universities in that era?

That group of people are now in various important positions in the country, or have been working in state-owned enterprises and governments for a few years. It is easy for them to go into business with resources and start their own business.

Twenty years ago, the chaotic and imperfect market gave the highest level of rewards to the brave.

Being bold and careful have become the qualities with the highest premium.

At that time, as long as you dared to think and act, and worked hard, you could basically achieve some results.

Those who hold a stable job and seek security are actually temporarily forgotten by the times.

Ten years ago, the Internet was booming. Looking back now, our domestic society has rewarded many talents with vision and strong professional skills.

For example, Li Yanhong who copied Google, Ma Huateng who copied ICQ, Jack Ma who copied Amazon... and so on.

There are advanced things abroad, you see them earlier than others and see them more deeply, and then you have the ability to replicate them. Gradually, you rise up and drive a group of investors who see the value to grow bigger.

Our Internet ecosystem is essentially copied by a group of people with broad vision.

At that time, the most valuable quality was vision.

But now, the environment is different and the previous qualities are no longer suitable for it.

As for academic qualifications, a PhD from Peking University or Tsinghua University is just that. Unless you are engaged in cutting-edge technology, ordinary majors no longer have any premium, and some even have to be discounted.

If you are bold and careful, and if you dared to act and take risks in the past, you would be a grassroots hero and you would rise in a few years. But now, the bolder you are, the faster you die.

In terms of vision, there is almost no gap between the international and domestic levels. In some aspects, we are even leading. Who else can we copy?

In fact, in the future, it will be others who copy Xing Yu's homework, and if they can copy half of it, they will have a meal.

In the future, when you have time, you can frequently participate in the company's high-level meetings to see how current decisions are made.

In the early years, a decision led directly to the final result, either success or failure.

Now, one decision leads to ten intermediate nodes, ABCDEF, and subsequent decisions lead to ten more nodes, 1234567...

Due to the deepening division of labor and specialization in society, managers now basically have to make continuous decisions in order to coordinate all factors to get a thing done. This is very difficult, very difficult, and the requirements for managers are too high.

MCN agencies are particularly troublesome because many things do not change once a year, but every month, and if you can't keep up, you will be in big trouble.

Why can such a large management team headed by Mr. Cheese only get 5% of the dividends?
Because they rarely make major decisions.

Shi Zeyu is a middle manager, but his contribution value ranks high among all senior management because he makes the most key decisions among the middle and senior management and he truly understands data.

To be honest, I am very exhausted working on Xingyu. You all know that I have to work 16 hours a day, not any less.

I hope you can grow up quickly, become independent and share some of my burdens.

If Xingyu wants to go far, it must have a partnership system, and it must have excellent partners like you."

Gou Huai's last meal was very high, and he had high expectations for them.

But what is it essentially?
Let them truly understand how much they have paid for Xingyu, how difficult it is for Xingyu to get to where it is today, and no one except me can lead Xingyu on a long voyage.

It was a bit boastful, but they listened.

Because that is the fact, without Su Huai, there would be no Xing Yu.

Xiao Gu glanced at Su Huai and nodded vigorously: "It's not easy. My father also said that if he were to do this, he wouldn't be able to build Xingyu. His thinking simply couldn't keep up. No matter how much money he invested, it would only be a small workshop."

Zhang Dayi and Li Jiaqi, who were in deep thought, suddenly woke up and immediately expressed their opinions.

One said: "Anyway, I will follow your lead. I will do whatever you teach me. If there are any mistakes, you will have to clean up the mess."

One said: "I still need a lot of time to grow up, so for now I have to continue to trouble you, but I will definitely work hard and strive to do something so that you won't have to worry about me anymore!"

After two days and two nights of getting along, a kind of respect was deeply engraved in his bones.

Because the gap is so clear. When you find it difficult to follow other people's thinking, why do you think you can do it too?

Since that doesn't work, just follow me obediently. It's not shameful anyway.

Thus, the last trace of grudge in their hearts quietly disappeared, and they no longer had any resentment for benefits.

Su will always give you what belongs to you.

If it doesn't belong to you, you can't keep it even if you want it.

No need, really no need.

Seeing that Su Huai's teacup was empty, Li Jiaqi hurried to pour him some tea, and then humbly asked for advice like a primary school student.

When Gu Jiuyue saw this scene, she immediately knew that Xing Yu could rest assured.

*************
After explaining the business aspects clearly, the book can enter the final stage.

The model is definitely feasible, but the requirements are too high.

Anyway, I can’t handle it unless I’m reborn, but if I’m really reborn, why should I bother with it?

So Xing Yu just wants to have fun.

(End of this chapter)