Sound uncle feeling quite strange, it seems necessary to know Chu Yuan Xi again. He thought that what Chu Yuanxi wanted was to raise the price. How beautiful it was to raise the price. Of course, raising the price on the basis of 30 billion would not only raise 300 million, but it was a huge sum of money. It's good to share more dividends next time, at least for every co-founder.

It turns out that chuyuanxi is most concerned about whether Disney is willing to replace the copyright of animal company. Is this too fresh? At the beginning, the contract signed with the American didn't restrict this matter. As the witness of signing the contract, he was very clear. In other words, no matter what chuyuanxi did, there was no problem. What was his plan?

But I can't ask Sound uncle had to drag Chu Yuan Xi's sleeve, whispered: "there's no need for extra branches?"

"How can it be called an extra branch?" According to the latest situation, Chu Yuanxi drew up three negotiation goals. While listening to the phone, he said: "we have to consider the interests of our partners first, and then consider our own etiquette, so that we can have more and more friends. It's not only where the contract is signed that we need to be responsible. The tacit part is also responsible, at least to maintain a satisfactory result for all parties. "

Sound uncle had no choice but to silently look at Chu Yuan Xi performance, heart said there are tacit part? Why don't you tell me?

It should be said that some inside information is unknown to Sheng Shu who is only responsible for copyright, such as the comprador theory explained by Elizabeth to Chu Yuanxi. Therefore, he didn't know any of the three negotiation goals of chuyuanxi, and it was natural that he couldn't understand chuyuanxi's negotiation strategy.

Soon a cross-border call will be finished. The time here is after dinner, and the time there is just before breakfast. Defoe, as an experienced professional manager, obviously can not give his attitude immediately, although he also knows that if Chu Yuanxi insists on selling, his attitude will not have a substantial impact.

"It's good for us It does have an impact on us and may disrupt our plans. " Defoe finally said, "but since the acquirer is more powerful All in all, we need a little time to study it. "

Chuyuanxi apologetically put down the phone and laughed at old fan, "Mr. Fan, you have to testify to me that I really didn't rely on" animal company "to increase the price."

"Say Why do you attach so much importance to price increase? " Old fan was stunned. He said that you didn't plan to add 10 billion yuan to the lion's mouth last time? I've never seen such a big mouth, especially in front of me. Why did you make a 180 degree turn this time?

"I don't know. I have a bad reputation. I have reached an agreement with Disney on a thigh hugging project. When I reach the thigh hugging project, I immediately pack it up and sell it at a higher price. Isn't that a speculative contract? It's like I sold my thighs. What's the deal? Who dares to let me hold you in the future? So it's too hard for me to deal with not only the satisfaction of all parties, but also the reputation. " Chuyuan looks sad in the evening.

Old Fanton looked strange and said, "that's what you're doing, isn't it?"? "However, you still have to add money to the price we give. Who knows where you add this part of money?"

"Oh, don't mention it. The little game plan is really hard to say." Chu Yuan Xi said, vaguely looked at Uncle Sheng, found that uncle Sheng has entered the state, nothing to say, quiet when the background board, this is very good. "So I was young and frivolous before."

"Ouch!" Old fan is very happy. He says it's so smooth. He can't even think about it! "So you're not going to raise the price?"

I didn't expect chuyuanxi to say: "if you can accept the separation of small game IP and stay in Ba group, I think you can."

"How can it be stripped?" Of course, Lao Fan quit. Because, although the formal due diligence needs to wait until TS signs, the public information can be directly inquired, and the great cultural entertainment has already launched the full-scale investigation of Ba Ren game, but the core data can't be seen. And the Ba group is relatively transparent, so for the proposed acquisition of enterprises, especially the transaction volume is still so large, Lao Fan of course all the information at his fingertips.

IP game is the last negotiation by Chu Yuan Xi alone out to make a wish, must be the focus of the investigation. As a result, we found that this method is not only to push up the price of several IPS, but also to make IP development work based on the promotion effect of games and reduce invalid creation. It is a long-term mechanism to improve the overall success rate of game companies in R & D. It belongs to the category of methodology, belongs to genes, belongs to infrastructure construction, and what is promoted is the inside information.

In China's game market, there are countless games released every year, only less than 1% of which are successful in a certain sense, so that most game companies begin to pursue IP. Why? It's just for hot start to increase the success rate of distribution.

Small game this method directly screened out game players as hot start seed users, and simple IP adaptation game has essential difference. It is equivalent to iterating the original method, not only obtaining more accurate target users of the game, but also enhancing the influence of IP by using the diffusion attribute of small games, so as to get as many fans and attention as possible.

So another problem arises. From a commercial perspective, the IP plan for small games is actually a model innovation, but it is not a technical barrier. Is it possible to follow suit directly? Is it possible to run the whole process through the powerful group combat capability? Even better than barman?If they can, they will obviously take the initiative in the negotiation.

But it's hard to demonstrate, because it takes at least two years to complete the whole process. From the creation of IP, to the production and online of small games, to the activation of viral forwarding to obtain players, and then game companies develop corresponding large-scale games, the ultimate goal is to make profits. Among them, there are many links. If any link fails, it will lose a chance to try.

Therefore, its demonstration work is very empty, because the Ba people's games that put forward this structure have just started to run the process. If it's not games, but other business activities, Ali can draw a conclusion based on his huge and long experience accumulation. Sorry, there is no valuable accumulation in the field of games.

Therefore, its value is unknown. In fact, making money is also an option, even one that Ali is good at. M & A is just right. I'll push it and keep on running.

See Chu Yuan Xi a wave a hand, "can't peel off of words that still want to add a little.". Zhang Ming talked to me before. He was willing to buy a small game IP plan and let me split it up. He was willing to give me 2 billion yuan. "

This sound uncle know, but don't know the result, at this time a listen, the heart suddenly intense contraction! What? What? Can this be worth two billion? Sell it! What are you doing?

As a result, chuyuanxi said, "but I can't sell it. You are in front. I have to listen to your opinion first."

Uncle Sheng's heart opened with a bang. He was almost stimulated. He said, "what's the crime I've suffered? Come and listen to this kind of negotiation..."

But old fan was lukewarm: "at that time, your little game wasn't too much to say, was it?"

"I can't say that, Mr. Fan. The data of the little game is quite good compared with others. It's just that my own standard is too high. Besides, such a system can definitely consolidate the company's business. There must be value, but it's not as high as I thought. "

…………

In the fierce bargaining, Sheng Shu is an eye opener. Chu Yuanxi constantly emphasizes that 3 million dau is not the upper limit of animal company, because Ba people don't buy directly. They all suck powder naturally. This game is actually better than the data shown.

But Lao Fan clearly pointed out that as a way to cultivate IP, the purchase volume is not good, and the plan of small game IP is not good. Although the bought players also play your game, they still have to rely on several waves of operation transformation to filter out a large number of successfully transformed IP fans. They are far less likely to be IP fans than naturally attracted players.

However, Chu Yuanxi also put forward the data, 79% of the second stay and 48% of the weekly stay. Anyway, at least the foundation of "animal company" is right. Before 10 million dau, even from the perspective of pure game operation, the buying volume must have been earned. As far as this game is concerned, it can sell a lot of money. Besides, it is linked to "animal company" IP, and there will be Disney's blessing in the future .

Lao Fan is not moved. The retention rate of IP fans is high. Small games are very sensitive to retention, and it's normal to be higher.

In a word, chuyuanxi holds that the value of the IP plan for small games lies in the mechanism itself, not just in generating a few IP suitable for games and attracting game players to join Fanji. Although Lao Fan recognized the value of this mechanism, how much is its value? He firmly believed that Chu Yuanxi could not come up with an exact value model.

I didn't expect Chuyuan Xi to throw out a set of data with a smile, "have you ever considered the possibility that I will separate the Ba Ren game and operate Xiangjiang on the market? The IPO of China mobile game will ring in a week. The IPO price is expected to exceed 5.7 billion yuan, and the cornerstone investor group is extremely strong. You should know the profit situation of zhongshouyou? "

The situation of China mobile game is open. If you want to IPO, you have to open the prospectus. Last year, the profit was more than 300 million, and it soared to 250 million in the first half of this year, which is slightly lower than the weekly income of mobile game in troubled times. This does not include the agency share of the overseas part of Ba Ren game.

But this kind of information is unknown to Uncle Sheng. As soon as he listens to it, his ears immediately stand out. According to the profit and share price of Temo China mobile game, Ba Ren game should be worth at least 100 billion. I didn't say that! We don't sell 30 billion of horizontal trough!

What he knows is that receiving listing guidance, submitting prospectuses, and operating IPO procedures have long been formalized, with specialized agencies providing one-stop services. As long as the performance is up, and the data is true and reliable, and the industry has no problem, it's not black production and so on. At first glance, it's crooked melon and cracked dates. There's no problem in Xiangjiang exchange.

We media is a little bit worse, but there is nothing wrong with the game companies. There are more mainland game companies going to Xiangjiang! Right? Why didn't chuyuanxi go public? Collectivization is a wonderful move!

Chuyuan Xi asked: "why do you think China mobile game can get such a high issue price close to 12 times PE? What are his advantages? Or what is the lack of hand games in Ba people's games? "

Lao Fan's eyebrows twisted into a dead knot, because he knew more than uncle Sheng, he understood. The so-called cornerstone investor is the investor who subscribed to the IPO of Xiangjiang, who promised to buy at the IPO price and then lock it up, which is different from the underwriter system of large a shares of our company.Xiangjiang IPO is not my big a shares of the new stock myth, the day of breaking some. Investors in mobile games mobile games include many new star enterprises including Kwai Wen group, fast hand and B station. These institutions can recognize accounts, indicating that the hand travel is really worth so much money.

In fact, the question asked by Chu Yuanxi has also been asked by Ali, but in a different form, it is assumed that Ba Ren game will now launch the Xiangjiang IPO. How much can the IPO price be? This kind of more financial professional problem, especially the way to estimate the issue price, is the most familiar one for Ali. It's just a set of models, and then you can naturally see the short board of Ba Ren game.

Today Chu Yuan Xi so a question, old fan immediately on the number, the strength of hand tour is the short board of Ba game. China mobile game has a large number of super IP licenses, such as pirate king, dragon ball, Naruto, dragon clan, legend of swordsman, millionaire and so on. At the same time, the product line is extremely rich, and the operation ability has been tested for a long time. There are more than ten mobile game products with vitality of three years, and the product echelon with monthly flow of tens of millions, hundreds of millions, or even 200 million is complete.

This is the guarantee of long-term prosperity and the value of higher PE given by the market. 12 times PE is really not low for game companies, but for the whole market, compared with other types of chemical industry, agriculture, automobile, electronics and even mobile phone industry, it can be said that it is at the absolute bottom, even in today's cold economic winter. The Ba people's game does not have this kind of background.

But the monthly flow is so high, why don't the profits go up? Because buying costs eat up most of the profits. This aspect is popular among domestic game companies, and there is no abnormality in the purchase data of mobile games.

However, this is exactly the long board of Ba people's game. The reason why "out of the mountains in troubled times" is that it doesn't buy much. Instead of not buying at all, once the dau falls below 35 million, it will buy a wave. After the rush, it will stop and maintain the optimal cost vs. revenue performance ratio.

Because of the high retention rate and the natural absorption of users' second forwarding diffusion, the R & D cost and purchase volume of Ba people account for half respectively, and the R & D expenditure of more than 100 people is a drop in the bucket compared with hundreds of millions of running water. In fact, it's the expenses after Chu Yuanxi ordered the Ba people's game to repeat the wheel and added a lot of we media operation posts.

The information of Ba people's game is the first-hand data obtained by Ali through many game channels, such as 360, Xiaomi, blue and green Dachang, and so on. So Lao Fan understood it as soon as he heard it. The IP plan of the little game has been made for a year and a half. It is hopeful to make up for the short board of the game, but it does not affect the long board. Then the listing value of the game will be different!

What does that mean? Today's negotiation is relatively smooth, which makes Lao Fan's brain work very well. At this moment, his brain turns very fast. It shows that the IP of Ba Ren game and that of game companies like China mobile game are not the same IP. They are just called "IP", but the understanding of IP, the process and thinking of development, as well as the control and maintenance methods are completely different.

He is a big guy who is better at looking at the business world with economic model. These two kinds of IP only consider economic status and financial model. The characteristic is that other game companies are going to obtain IP authorization. Whether they buy authorization or use their strong position to give share conditions, it's the traditional way. They get it just for a hot start, so they still have to buy after they have IP.

And Ba Ren is my own IP, and then cultivate good fans, take the whole IP chain, make full use of the IP characteristics, as long as it can operate efficiently, the income is profit.

But what about finance? Why can traditional game companies only use IP popularity for hot start? Lao Fan thought about this question for three times and couldn't find the answer.

Furthermore, he once again doubts whether the IP plan of a small game can achieve the same goal as barman game. I can't answer the last question, but I can't help doubting it.

The speed of thinking is very fast. Lao Fan thinks a lot, but the time is very short. And he didn't expect that uncle Sheng, who has been making the background board, suddenly asked, "why don't we go public? Even if we have disadvantages, the IPO price of Ba Ren game will not be lower than 30 billion, right

This slow at least two take the problem let Chu Yuan Xi very helpless, "Uncle son, Ali buy, give is cash ah, cash.". Or stock and cash. "

Although this is a reason, it is obviously not the real answer. The real answer is, who will be the chairman of barman game? Zhao Jie? Zhao Jie when a listed company CEO is enough, when the chairman is not pure funny? Ba group can reduce its holdings after IPO, but it can't make this company a laughing stock. But the company has the chairman of the board only their own, then do not do a well-off!

But his answer was so sincere that he made Lao Fan laugh. After a laugh, he said, "I understand what you mean. Do you mean that Ba Ren game has genes? The question is, "what is a gene?"

"What is a gene? I can do it, you can't do it. It's called gene. When you can do it, you will be injected with this gene. "

"Well, it makes sense, it makes sense!" Lao Fan finally realized that if he forced himself to follow suit, and understood the small game IP plan as model innovation, he would probably fall into the pit and continue to lose money.This set of mechanism is a craft. Unfortunately, there is no IOS certification standard. It can't be saved by mobilizing a group of forces. It can only be learned by a master.

"So Mr. Chu, would you like to make an offer? "