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Chapter 83: Exploring the Appetite of Venture Capital, a Trip to Shanghai (Subscribe!)

At 10:30 in the morning, as I was walking towards the Entrepreneurship Park, Zhang Jiancheng called for the second time.

"Mr. Zhang, to be honest, FoxTao is not short of money now." Chen Yansen refused directly without waiting for the other party to speak.

"Mr. Chen, I know that after the Super Rebate goes online, you hold the deposits of merchants and B2C malls, as well as a daily gross profit of over one million, so you have ample funds.

However, Thinking Capital has been involved in e-commerce since 2004 and has extensive B2C and supply chain resources, which can help FoxTao develop rapidly.

After listening to it, Zhang Jiancheng introduced it calmly.

"Fox Tao currently has 150 million daily active users and its daily sales are stable at 2000 million. What value can Siwei give it?" Chen Yansen just opened his mouth and falsely reported more than 50% of the data.

"Mr. Chen, based on the average price-to-earnings ratio of the e-commerce industry this year, Siwei can give a valuation of 4 million. Considering that FoxTao is a leader in the shopping guide e-commerce track, I can add another 1 million."

Zhang Jiancheng thought for a while and said slowly.

"I'm sorry, I'm not satisfied with that number," Chen Yansen said flatly, citing Penguin as an angel investor. "Penguin is FoxTao's angel investor and has preemptive rights. I need to notify them before launching the Series A round."

"Mr. Chen, we can meet and talk in detail. The valuation can be negotiated. As long as the algorithm is reasonable, Thinking is willing to accept it." Zhang Jiancheng frowned, but still did not give up.

But Chen Yansen didn't want to raise funds too early, so he hung up the phone after a few words.

Zhang Jiancheng was surprised by the repeated rejections. He hadn't expected an 18-year-old freshman to be so difficult to deal with.

He wanted to take advantage of the fact that other venture capitalists were waiting and watching, and use the 5 million valuation to "stun" Chen Yansen and coax him into signing a financing agreement, but he didn't expect that the other party would not buy it at all.

Chen Yansen walked into Room 206 and waved to Wang Zihao. When he approached, he instructed, "Find a few top e-commerce bloggers and spread the word that Siwei Capital wants to invest in Huli Tao, with a valuation of 5 million yuan."

"real or fake?"

Wang Zihao was slightly stunned and asked subconsciously.

"It's true, but I rejected it. 5 million is too little." Chen Yansen answered truthfully.

Although revealing investors' intentions to the outside world is unethical and may easily arouse the disgust of Thinking Capital, Chen Yansen has no sense of morality at all and is naturally fearless.

Siwei Capital wants to acquire equity at a low price, and Chen Yansen also wants to sell it at a high price. There is no right or wrong, it's all about interests.

"Fuck! You're awesome!" Wang Zihao gave a thumbs up, his face full of shock.

After returning to his seat, he immediately contacted two top bloggers, Tu Si Shuo E-commerce and 21st Century E-commerce Circle, through an intermediary. One has 460 million followers and the other has 320 million. The offer was not high, and the total did not exceed 8000 yuan.

The traffic monetization capabilities of bloggers today cannot be compared to those of more than ten years later.

At 3 p.m. that day, Tusishuo E-commerce released information that Siwei Capital had contacted FoxTao.

"500 million valuation" plus "18-year-old business genius" unsurprisingly became a hot topic.

Some people think that FoxTao’s valuation of 5 million is too exaggerated as it was established less than four months ago.

But someone immediately explained in the comment section that based on the PEG valuation method, which is a combination of price-to-earnings ratio or price-to-earnings ratio and earnings growth rate, combined with FoxTao's daily active users, orders and sales data, its valuation can reach 8 million to 10 billion.

Some netizens also believe that this is a hype method used by FoxTao to raise its value.

Half an hour later, the 21st Century E-commerce Circle forwarded the Weibo content of Tusishuo E-commerce, further proving the reliability of the news.

Zhang Jiancheng was reporting the progress to his boss. He sneered when he heard the news. He didn't expect that Chen Yansen was so sophisticated.

When asked by the media for confirmation, Zhang Jiancheng was reluctant to deny it and just said ambiguously: "Shopping guide e-commerce, as a niche segment of the e-commerce industry, has been given a new profit model by Fox Tao."

As to whether the 5 million valuation was true or not, and whether Siwei Capital had contacted FoxTao, he did not say a word.

Before leaving get off work, Chen Yansen received another call from Qiming Capital, which offered a valuation of 6 million yuan and requested a 20% equity exchange.

Chen Yansen was still perfunctory and planned to let the wind blow for a few more days.

The next day, Lin Chenfeng from Penguin Venture Capital called to inquire.

After clarifying the situation, he smiled and reminded, "This project was personally nominated by President Ma, and the venture capital department will definitely continue to invest."

Chen Yansen smiled faintly and replied: Welcome to FoxTao for an on-site inspection, so that you can have a clearer understanding of the current value of FoxTao.

As financing news continues to ferment, more and more venture capital institutions have noticed FoxTao, a rapidly growing shopping guide e-commerce platform.

On December 17, the first venture capital firm to enter the Entrepreneurship Park was Capital Today, a group of seven people, including managers leading investment projects, industry analysts, legal, financial and technical personnel, etc.

Chen Yansen took them to the second floor of the Entrepreneurship Park for a day. Song Yuncheng was responsible for the reception and introduced them to the optimized data information.

The next day, photos of Today Capital entering Xucheng College were posted online. This time it was not Chen Yansen who did it, but a few college students who wanted to increase their followers and traffic.

The venture capital firms that had been on the sidelines could no longer sit still and began to call and invite the company to conduct on-site inspections.

Throughout mid-December, in addition to keeping a close eye on the daily operations of Super Return, Chen Yansen spent the rest of his time dealing with venture capital.

Fortunately, the effect is good. The valuations given by various institutions continue to increase. Competition brings pressure.

Thinking Capital, which was only willing to offer a valuation of 5 million at the beginning, finally raised its offer to 7.5 million!
"Brother Sen, what do you think? DCM is offering the highest price right now. Even if we only sell 10% of our shares, we can still get 1.4 million yuan, which means we can increase our investment tenfold."

Wang Zihao pulled over a chair, sat in front of Chen Yansen and asked.

"It's still too low! These damn venture capitalists always use the short launch time of the super rebate, the frequent policy changes, and the unstable gross profit as excuses. Based on a daily net gross profit of 100 million, I can call the valuation at 30 billion without any exaggeration."

Chen Yansen glanced at Wang Zihao and said disdainfully.

The venture capitalist felt that Fox Taori's gross profit margin was unstable, so he decided to wait and see. He wasn't in a hurry anyway. "30 billion?"

Wang Zihao swallowed and looked around. How could a project with less than 80 people be worth 30 billion?
He has been attending Liu Muyan's finance class recently. Although he has not learned about company valuation methods, he knows that 30 billion is an astronomical figure and venture capitalists will probably find it difficult to accept it.

"At worst, the development will be slow. If it doesn't meet my expectations, no one will be able to help." Chen Yansen said with a chuckle.

Wang Zihao didn't say anything. He didn't ask Chen Yansen about his lowest price. He felt that even if he asked, Chen Yansen would not tell the truth.

Ever since his best friend filled out his college entrance examination application, he seemed like a different person, with a deep mind that Wang Zihao couldn't figure out at all.

"This week's marketing plan and weekly report have been sent to your email. By the way, our cumulative number of registered users has just exceeded 2000 million." Wang Zihao changed the subject and said with a smile.

"I'll be away for the next few days. Please keep an eye on it for me. Call me anytime if you have any questions."

Chen Yansen looked at his watch and gave serious instructions.

"Okay, don't worry! Anyway, if there are any venture capitalists coming, I will let Song Yuncheng and Zhuang Rui receive them. They have experience." Wang Zihao shrugged and said with envy in his eyes.

Chen Yansen wants to take Mengjie to Shanghai to watch a concert, but he himself has to work hard.

I finally fell in love with a girl, but she was a teacher and even had a fiancé.

The man looked like a decent human being, but his hair looked like it was licked by a dog. He looked unreliable at first glance.

My brother Hao is the best candidate for Liu Muyan!
However, Wang Zihao only dared to mutter these words in his heart and did not dare to say a word out loud.

Chen Yansen smiled, picked up his coat and walked out.

As soon as he arrived downstairs of the teachers' apartment building, Chen Yansen saw Mengjie pushing two suitcases and standing on tiptoe to look around.

"Take a taxi to the high-speed rail station first. It will arrive around 10pm."

Chen Yansen took a suitcase, rubbed Mengjie's head and said.

Meng Jie smiled, took Chen Yansen's arm, and walked towards the school gate with confidence.

It takes half an hour to drive from Xucheng College to Xucheng East Station, and 3 hours by high-speed rail. It was already 10:30 when we arrived at the hotel.

At night in Shanghai, neon lights flicker, tall buildings stand on both sides of the Huangpu River, bathed in the cool moonlight, and the streets are prosperous and extremely noisy.

"You only booked one room?"

Standing at the door of the room, Mengjie blinked and asked with a strange expression.

Chen Yansen, this bastard, shouldn’t his little thoughts be too obvious? Meng Jie knew it and her cheeks instantly became hot.

She had imagined a similar love scene countless times in her mind, but she didn't expect it to come so suddenly.

"Don't worry, I won't do anything to you."

Chen Yansen pushed open the door, inserted the room card into the power slot, and said seriously.

"At night you'll definitely say the air conditioner isn't warm enough and you want to squeeze into one bed. Then you'll say I'll just hug you, and then you'll do nothing else. Finally, you'll say I'll rub against you, right?"

Mengjie's eyes were watery, the corners of her mouth were slightly raised, and she told the scumbag's tricks one by one.

"You know so much, you must have been a scumbag in your previous life."

Chen Yansen was stunned for a moment, gave a dry laugh, and took the initiative.

"Don't forget! Who is the big sister of Class 8, Grade 3!" Meng Jie snorted and pushed the suitcase into the house.

But she didn't expect that there was only one bed in the bedroom, so Chen Yansen even skipped the first step of the scumbag routine.

Mengjie turned her head to look at him with questioning eyes.

Before leaving, Chen Yansen vowed that he had booked a double room, with one bed for each person, and the distance between them was as far as mountains and seas.

"Uh, maybe the front desk recorded the wrong information?"

Chen Yansen shamelessly lied.

"Really? That's so careless! Fortunately there is a sofa in the living room, so it's okay." A sly smile flashed across Mengjie's face.

Sleeping on the sofa?
Chen Yansen was stunned. What a joke! Mr. Chen never sleeps on the sofa!
It was not early, and after they finished washing up, one lay on the bed while the other curled up on the sofa.

"Chen Yansen, you bastard!" Meng Jie cursed angrily with a drooping face.

"The bed is very big and comfortable. Do you want to come up and try it?"

Chen Yansen chuckled and patted the soft mattress, making a 'puff' sound.

"I'd rather sleep on the sofa!" Mengjie turned over on the sofa and was determined not to fall for it.

She knew Chen Yansen's routine too well, and what he would do next would definitely be 'I'll just hold you and do nothing'.

Pooh!
The two of them bickered with each other, and occasionally when they got tired, they would talk about high school.

After a while, Mengjie fell asleep first.

Chen Yansen called out twice in a low voice, and seeing that Mengjie didn't respond, he got out of bed quietly.

(End of this chapter)