Winning the new financial era

Chapter 185
July.

In a certain office building in Shanghai.

"Old Huang, I see that Zhang Yida has launched a group shopping product called "Pinduoduo", which has become very popular on WeChat.

How do you rely on 0 yuan to buy tissue paper and laundry detergent, which has pulled millions of people's heads.

Should we follow suit and create a group shopping product?
We are now only buying fruit in our current group of good products. The products are still too single, and there is little hope of making it bigger. "

A subordinate suggested to Huang Xing that Pinduoduo has been online for a few months, and the products are getting more and more abundant, and the momentum is getting stronger and stronger, so those who are interested will naturally notice it.

"Well...their skills are not very high. Our Pinhaohuo is originally for group buying. As long as we expand more categories, it should not be worse than them.

It's just the money, it's really no match for others. "

Huang Xing smiled and said, a trace of sadness flashed in his heart.

I was recommended to Zhu Kezhen College of Zhejiang University in high school, learned from business leader Duan Yongping, had lunch with Buffett, and taught Ding Sanshi's technology...

But now, it's not enough to be high or low.

Huang Xing joined Google after graduating with a master's degree in 04, and obtained a lot of options, which was also the origin of his first pot of money in starting a business.

After resigning from Google in 07, he started his own business and successively founded multiple companies such as mobile phone e-commerce, e-commerce agency operations, and games.

But entrepreneurship has not achieved great success. Although the family wealth has surpassed most people, it is still far from what he pursued.

"Old Huang, don't be discouraged. The resources around you are still very rich.

As long as we start to make good products, are we afraid that we will not get financing?
Zhang Yida did not start his business with financing step by step.We don't have to be afraid of him. "

The subordinate comforted Huang Xing.

"It's not that I'm afraid of him, it's that Pinduoduo has a first-mover advantage over us. We can raise funds, but Zhang Yida can't.

I am worried about falling behind one step, falling behind step by step.

Since we want to transform into a full-category group-sharing e-commerce business, we have to go all out to bridge the gap with Pinduoduo as soon as possible. "

After Huang Xing made up his mind, he began to call his mentor Mr. Duan, planning to solicit some investment.

"Xiao Zhen? You haven't called me for a long time. What are you up to?"

Duan Yongping on the other end of the phone is still in the United States on the other side of the ocean, lying on a deck chair by the beach and basking in the sun.

He immigrated in 01, and only returned to China twice a year to participate in the board of directors of Bubusheng Group. Business matters are basically decentralized management, and he lives very chicly.

He still valued Huang Xing as a disciple very much.Otherwise, he would not have taken him to Buffett's luncheon that year.

"Master, I am now working on a business project of group shopping..."

Huang Xing told Duan Yongping about the group shopping model on the phone.

"Well... your entrepreneurial model is good, if you have a chance to succeed, take it well.

By the way, is the start-up capital tight?Just let me know if you need funds, don't be shy. "

After hearing what Huang Xing said, Duan Yongping, who has an excellent business vision, immediately saw the advantage of this group buying model - cheap.

Although China's current reform and opening up achievements are very outstanding, but Duan Yongping is very clear, after all, it is not a developed country, the population base is there, and the market for high-quality and cheap commodities is very large.

"Well, there is still some shortage of funds. We also have a difficult competitor. His name is Zhang Yida, and he has a financial technology company with a valuation of tens of billions of dollars..."

Huang Xing told his mentor about Zhang Yida's entrepreneurial experience and family background.

"Only 20 years old? That's really amazing. To be able to do such a big business, ability and skill are indispensable!

Xiao Zhen, the other party is not inferior to you at all.Whether it is personal connections or brain skills, they are no worse than you.It's a rival!You have to pay more attention. "

Duan Yongping sighed after hearing Huang Xing's story about Zhang Yida's heels, there are only so many talented people in the country.

"I'll talk to Ding Sanshi again, let him join one, and we will each invest an angel investment for you."

In 01, the stock price of the pig factory fell below 1 US dollar, which was supported by Duan Yongping's efforts to help Ding Sanshi, so the relationship between them is very good.

Of course, Duan Yongping did not suffer a loss. The stock bought for 1 US dollar rose to 70 US dollars in more than a year...

Ding Sanshi is also one of the Internet tycoons in China, and Duan Yongping is going to call him up to give his lover a boost.

Relying on the past network resources, Huang Xing's Pinhaohuo completed the angel round of financing in this way.

After having sufficient development funds, Huang Xing led the team to fully transform into an all-category group buying e-commerce company.

……

"Mr. Zhang, the review by the SEC has passed, and the listing period is set for the 20th of this month."

Fan Hongyang happily ran to report to Zhang Yida, and Mr. Robert from Goldman Sachs Group came with him.

Robert said: "Mr. Zhang, we have to hurry up for the road show, and we will be listed in less than two weeks."

At the same time, Robert handed Zhang Yida a report and said:
"The IPO issue size is set at 3000 million ADSs, and the issue price range is US$22.5-US$25.

1 ADS = 5 ordinary shares.

The total number of shares before the IPO was 10 billion shares, and after the IPO was 11.5 billion shares. The underwriters exercised the over-allotment option, and the highest level was 11.725 billion shares.

Based on the upper limit of the issue price range of US$25, if the underwriters do not exercise the over-allotment right, the financing amount of Yimin.com Jinmao (excluding expenses related to the listing) will be US$7.5 million;
If the underwriter exercises all the excess issuance rights, that is, Yimin Wangjin will issue 3450 million ADSs, with a gross financing amount of US$8.625 million. "

Zhang Yida took a look at the report that Robert handed over, and asked, "How many times is the price-earnings ratio set?"

"18 times to 20 times, this is not low. The PE multiple of financial stocks is generally not high, generally 5-10 times.

Considering that Yimin Wangjin belongs to the Internet finance industry and has high-speed growth, it finally decided on this multiple.

If it is higher, it will be embarrassing if it cannot be released. "

Robert said with a smile, Yimin.com’s IPO dealt with is quite a large IPO, and the underwriting commission alone is tens of millions of dollars. It is a good deal, and he can also get a large amount of bonuses.

Zhang Yida was also thinking in his mind that the financial report of Yimin Wangjin in the Q15 quarter of 2 had also been audited and submitted to the SEC. Compared with the first quarter, there was an increase of more than 45%, reaching 4.56 million yuan.

再加上Q1季度的3.14亿元净利润，益民网金15年上半年的总净利润就是7.7亿元，以18-20倍动态市盈率计算，市值就是277.2亿元～308亿元。

The current exchange rate is 1 US dollar: 6.2 yuan, converted into US dollars, and the market value of Yimin Wangjin is between US$44.7 billion and US$49.7 billion.

The final post-listing figure will also vary with exchange rates, roadshows, and the exercise of the over-allotment option.

……

"Mr. Zhang! Yimin Wangjin is about to go public. I heard that it has been established for less than two years, right?
Such a fast speed is like riding a rocket.

Douvision will be listed so soon, I can wake up with a smile in my dreams. "

On the plane, Ma Jun said with a smile, this time on a business trip to the United States, he took the opportunity to go with Zhang Yida, who was on a road show in the United States.

Huang Xiaofeng, who was sitting next to Ma Jun, interjected: "Mr. Ma! I believe you will be able to wait for this day soon.

Which company under Mr. Zhang is not developing fast?I guess the next one to ring the bell will be TikTok. "

"We are slow! Huimin bicycles are fast.

I guess Huimin will be the next one to ring the bell. "

Ma Jun is more modest. The current popularity of Doushi is far from being comparable to that of Huimin Bicycle. It is almost becoming a national-level application. Douvision has just started.

Zhang Yida turned his head and said to Ma Jun:

"Ring the bell, that's all. Going public is not the end of entrepreneurship, it can be seen as another starting point.

Just like the comprehension in the novel, after ascension, it is time to change the plane, and then continue to fight.

Didn't Musical.ly top the Apple Store list this month?Also put Facebook and YouTube down.

I am going to upgrade the North American office and change it into a North American branch.

Taking advantage of this momentum, we have to invest more resources to greatly increase the number of musical.ly users. "

"Well, Mr. Zhang, you are right. Musical.ly just needs to take advantage of the victory and pursue it to completely open up the situation in the United States."

Speaking of Musical.ly, Ma Jun is full of pride. His overseas products have reached the No.1 position in the Apple Store, and he has also suppressed overseas giants. He is the only one in China.

Recently, there have been various media reports, and various honors have been added to Musical.ly, such as "the most successful overseas product", "China Light", "the best domestic Internet company"...the title has won a large number of titles.

At the same time, Ma Jun regretted that Musical.ly was sold early.

Looking at it now, Musical.ly definitely has the potential to become a unicorn.

But the matter has come to this point, we can only honestly contribute to the company and get more shares of Douvision.

So when Zhang Yida went to the US this time, he asked Yang Lu and one of him to send one of them to the US to station in the US and be responsible for the development of the local market.

In order to earn more performance, Ma Jun volunteered to sign up.

"Mr. Huang, what are you doing in the United States? Also to open up overseas markets for Huimin bicycles?"

Ma Jun glanced at Huang Xiaofeng and asked.

Huang Xiaofeng glanced at Zhang Yida, and Zhang Yida nodded to indicate that he could speak.

Huang Xiaofeng said: "Yes! Open up the US market."

"Shared bicycles going overseas? So awesome? If shared bicycles are launched all over the world, at least tens of millions of bicycles will be launched!
The number of users is also expected to reach hundreds of millions.That is the multinational Internet company. "

Ma Jun said in surprise, looked at Zhang Yida with admiration, and thought: This Mr. Zhang is really ambitious, and every company under him wants to go overseas to become a large multinational group.

"Wrong! It's not just about sharing bicycles. Huimin Bike wants to spread its business all over the world.

But it will be measured according to the situation of each country and each region.

Like the United States, it is not particularly suitable for shared bicycles.I think "shared scooter" is more suitable! "

"Sharing scooters"?Ma Jun feels that this brain hole is quite open. In addition to "shared bicycles" and "shared cars", even "shared scooters" have come.

"Don't think I'm talking nonsense, I'm serious. The roads in the United States are not particularly suitable for shared bicycles. Coupled with the impact of rain and snow, pedal bicycles will not work.

Just like China is a big bicycle country, the United States has a very strong skateboard culture. "

In the previous life, shared electric scooters were particularly popular in Europe and America. Many unicorns have sprung up in this field, and many of them have received investment from giants such as Uber and Google.

Zhang Yida intends to set up a shared electric scooter company in the United States under the banner of Huimin Bicycle.

Many European and American companies came to China to conquer cities and territories, and Zhang Yida also wanted to give them a "straight attack on Huanglong".

(End of this chapter)