Winning the new financial era

Chapter 109 Pre-launch of Petnet A round
The conditions for recruiting Huang Xiaofeng were also set. 150 million options, with a paper value of 750 million US dollars, will be distributed by the option pool.

The exercise time is three years, and you can purchase no more than 50 shares each year, and the exercise price is US$3 per share.

Huimin Bike is currently valued at US$2.5 million, with a total of 5000 million shares, each with a face value of US$5.

It is equivalent to giving Huang Xiaofeng a 6% discount, and 450 million US dollars can buy stocks currently worth 750 million US dollars.

Of course, whether to exercise the right or not still needs to be judged according to the development of the company.

If the face value of a single share of Huimin Bicycle is lower than 3 yuan in the future, then this option is a piece of waste paper.

This is why many startups like to give stock options to their employees.An option is equivalent to a right. Employees can buy company shares at a certain preferential price for a predetermined period of time.

But when the value of the company's shares is lower than the exercise price, there is no need to buy it...

There are many benefits to doing this.

First, it is normal to bind talents through options, and the exercise time is three years or five years.

Employees are eager to go public and become millionaires or multi-millionaires, so they should work hard for three or five years!All the options are exercised and bought into stocks.

Second, cost savings.

Startup companies have limited funds, and many year-end bonuses do not receive cash rewards, and they are directly issued options.

There are also some chicken thieves with extremely low wages and a lot of options...

Third, create common goals.

The common goal is that everyone has options, and they are all on the same boat.

Twisted into a rope, everyone is united, and everyone is able to make the company public.

Huang Xiaofeng obtained 150 million options, and to exercise 50 shares each year, he needs to spend 150 million US dollars in real money.

This is not a small amount of money, and it is estimated that he had to work hard to get it.

And as far as the current situation is concerned, there are a lot of competitors behind Huimin bicycle, and it is not as stable as Mount Tai, and the exercise of rights may face losses.

Another way is that after three years, Huang Xiaofeng exercised his options in one go and purchased 3 million shares at a price of US$150 per share.

Three years later, the outcome of the shared bicycle industry should also be decided.The time is right to buy.

Where did the $450 million come from?There are specialized financial institutions that do this kind of business, option exercise financing.

After exercising the option to buy shares, mortgage a part of the shares to the financing institution, or sell part of the shares and pay back the money.

In addition to options, Huang Xiaofeng also has an annual salary of 100 million.

Huang Xiaofeng was still very satisfied with this treatment.

An annual salary of one million is not bad for him, and it's not like he hasn't received this level of salary before.

What he values ​​most is options. 150 million options are equivalent to 3% of the total shares. The option pool currently only has 400 million shares in total, and nearly half of them are allocated to him.

If the valuation of Huimin Bicycle increases tenfold in three years, it will reach US$10 billion.

Even if some additional shares are issued, his 3% shares will be diluted by half, which is still worth 3750 million US dollars.

Equivalent to buying $450 million worth of stock for $3750 million, netting $3300 million.

Of course, this refers to the ideal development of Huimin Bicycle and everything goes well.

If the valuation of Huimin Bike drops in the future, or even goes bankrupt, the option is just a piece of paper.

But if it really develops like that, I can't blame others.As a CEO, the company is not developing smoothly or even goes bankrupt, and it is hard to absolve yourself of the blame.

If you want to make money, even get rich.Then you have to prosper with the company, and lose both!
In the conference hall of Huimin Bicycle Office.

Zhang Yida introduced Huang Xiaofeng standing beside him to a group of executives:
"This is the new CEO of Huimin Bike, Huang Xiaofeng, Mr. Huang!
Everyone applauds and welcomes! "

Seeing this, everyone applauded immediately.

Only Qin Zheng was a little unhappy, and Zhang Yida inadvertently glanced at the crowd and noticed this scene.

Zhang Yida had a rough idea of ​​why Qin Zheng was depressed.It is estimated that the idea of ​​​​taking over as CEO fell through!
It's not that Zhang Yida hasn't considered him, but it's true that his ability in various aspects is still a bit weak, and he can't meet the CEO standard that Zhang Yida wants.

I can only find a chance to enlighten him!
Zhang Yida put aside these thoughts, and continued:

"Mr. Huang has held important positions in many famous companies such as Procter & Gamble, Google, and Penguin, and has very rich experience in Internet and FMCG management.

I believe that under his leadership, Huimin Bicycle will usher in greater glory.

Next, Mr. Huang will tell you a few words. "

Huang Xiaofeng was not stage-frightened at all, he greeted the executives of Huimin Bicycle first, and then said with a smile on his face:
"It is also my luck to work with so many elites...

There is no more gossip, and everyone walks hand in hand to push Huimin Bicycle to a higher peak. "

In this way, Huang Xiaofeng joined Huimin Bicycle and became the CEO.

As soon as he took office, he entered the working state and flew to various places to operate sub-centers every three days.In addition to talking with the branch offices, he will also go to the grassroots level to move bicycles with the front-line dispatchers and ask them for advice.

Soon, Huang Xiaofeng had a detailed understanding of the entire operation of Huimin Bicycle.

Based on this understanding, Huang Xiaofeng wrote a work report to Zhang Yida.

The content of the report is very detailed. From the operation of each city, the delivery plan, to the salary of the dispatchers, some optimizations and improvements have been proposed.

Zhang Yida also read the report carefully.Indeed, as expected of a veteran driver, Zhang Yida's eyes were also impressed by Huang Xiaofeng's many insights.

Signed and approved, the plan passed smoothly.

Zhang Yida gave Huang Xiaofeng a high degree of management authority, and told him to let him go, don't care about this and that, and everything is guided by performance indicators.

After determining the goal, the entire company mobilized all resources to invest in user growth with a limited number of bicycles.

There are public relations articles about shared bicycles all over the Internet, and the articles are full of praise.

In terms of offline, there are also advertisements for bicycles that benefit the people on the bus and subway platforms of the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen.

"Bicycles for the benefit of the people, green travel!"

"Low-carbon and environmentally friendly, ride anytime, anywhere!"

"Download the APP, scan the QR code and ride a bicycle!"

In addition, Huimin Bicycle has also marked some places with dense traffic according to the riding track in the background of the cloud platform, and the bicycles are dispatched to these places through transportation dispatch every day.

"Office buildings, bus stops, subway stations..."

Under the extremely high online and offline exposure, the number of registered users and daily active users of Huimin Bicycle ushered in a sharp increase in both.

……

When the time came to November, Patenet's three-month performance indicators were all overfulfilled.

Zhang Yida met with Shen Beipeng and Xu Xiaoming again. After reading the operation data of Petnet, Shen Beipeng took off his glasses, rubbed his eyes, and said:

"Yida! Do you want to work so hard?"

Zhang Yida smiled and said nothing, can it work if he doesn't work hard?If you don't put in all your energy to start a business, just wait for it to close down!
The competition in today's society is so fierce, fighting for resources, fighting for funds, every step is fought for.

Forget it for Buddhist youths!Continue soaking wolfberries in the thermos cup!

"8 million in August, 2420 million in September, and 9 million in October." Xu Xiaoming took a deep breath, underestimating this petnet, the growth rate is too scary.

In the Pre-A round, what Zhang Yida promised was to reach 2000 million, 4000 million, and 8000 million GMV in three months, and all of them were achieved, and a small amount was exceeded.

"As I said before, the pet market has huge potential. Now it is on the eve of the outbreak, and we are entering this industry at this time, just in time for this wave of dividends and trends.

The future of Patenet will be limitless. If you invest in it, you will earn money. Two bosses, do you want to get in the car? "

Zhang Yida glanced at the two of them and joked.

"I want to take this car, but the ticket is too expensive, I can't afford it!"

Shen Beipeng shook his head again and again, having dealt with Zhang Yida a lot, he also knew that this was the one who opened his mouth like a lion.

"That's right, Yida! Patenet's performance is growing rapidly, but it's also burning money very quickly!

The previous round of 1000 million has been spent.In the future, don't know how much money will be burned? "

Xu Xiaoming was already tempted, but when he saw Shen Beipeng bargaining, he also cooperated with him.

"Haha, we're old friends now. I don't want to hang out with the two teachers anymore.

The current growth potential of Patenet has been highlighted, and the valuation of the A-round financing must rise!
The valuation of 1 million yuan in the last round was really underestimated.But don’t get entangled in the past, let’s discuss the facts and talk about the A round. "

Although Zhang Yida said so, he was thinking about how to kill them. He really lost money in the last round of financing and had to earn it back.

"Quote directly!" Shen Beipeng narrowed his glasses and stared at Zhang Yida through the glasses.

"10 billion yuan! Pre-investment!"

Zhang Yida looked back at Shen Beipeng with a harmless face.

"Sign and bet, we will achieve a turnover of 20 billion in the next year!" Shen Beipeng was not shocked by Zhang Yida's bid at all, and it was still within his psychological range.

"Market value/total turnover, the average level of e-commerce is 0.6, you can sign the contract for gambling, but the total turnover within a year needs to be changed to 16.6 billion."

Zhang Yida began to argue with reason, and the development of Patenet was actually not so smooth. During the period, thanks to Ruixiang's traffic diversion, even Zhang Yida himself came forward to stand for it...

Therefore, Zhang Yida did not dare to guarantee the turnover of 20 billion yuan, 16.6 billion yuan, with an average monthly turnover of 1.4 million yuan. It should not be a big problem to complete it.

Shen Beipeng thought for a few seconds, then said:

"No problem, 16.6 billion, it's up to you."

"How many shares will be released?" Since Shen Beipeng agreed, Xu Xiaoming also felt that this matter was not outrageous, and it was worth the price.Simply ask how much the diluted share comes out.

"The old rules, 20%, the pre-investment valuation is 10 billion yuan, the post-investment valuation is 12.5 billion yuan, and the financing is 2.5 million yuan."

Zhang Yida had already made up his mind and blurted out.

"OK, no problem. The last round of black shirts was the lead investor, and Zhenke was the follower. This round must change institutions, or add new institutions. Let me help you contact a few for a try."

Shen Beipeng recognized these conditions, but the investment institution had to be changed or added.

Otherwise, if Heishan and Zhenke are still investing in Patenet, they will be suspected of inflating the valuation, lacking credibility, and affecting subsequent financing.

Of course Zhang Yida understands these reasons, he smiled and said to Shen Beipeng:
"Then please ask Mr. Shen a lot!"

(End of this chapter)