Chapter 626 Mr. Lin Is Right (Recommendation Ticket Requested)

During the last financing, Pei Qianlong promised that he would withdraw from this project in the middle of next year.

David thought that the other party was fooling him.

After all, there is no agreement on paper.

Unexpectedly, the exact time has been given now, which is the D round, in March and April next year.

"What if we still need funds during this period?" David suddenly thought of this. Although he had just raised one billion yuan in financing, this project burned too fast.

"We don't mind raising one or two more rounds. Of course, you can also raise C+ rounds." Pei Qianlong hated this person's indecision.

Of the three bike-sharing entrepreneurs he came into contact with, David was the most ambitious.

Although his FOR development is the best, in the long run, this person is not good at uniting all the forces that can be united. He is too independent and self-willed, and he will inevitably suffer from this in the future.

The world of capital is bloody.

There is no situation where you can not share your cake with others.

Especially the money for buying cakes, there are other people's shares.

Of course, from David's standpoint, his game with capital is not unreasonable.

If he kills immediately, his FOR will become someone else's FOR sooner or later.

But you're just getting started, and you haven't crushed all your competitors yet.

What's more, this industry is full of crises, and there is no specific profit point for the time being.

What David said just now also revealed a message, that is, he took financing too seriously.

He is obviously a master who doesn't like to be suppressed by others, but he is obsessed with developing through financing.

It's July now, and it's only half a year until March next year. One billion yuan is not enough for you to burn. Do you regard burning money as development?

Didn't you think to stop and take a deep breath?

Solve the problems that need to be solved urgently from user feedback during the development process?

If you don't improve your own skills, you can only rely on the capital market to pass on your skills.

This FOR is really finished sooner or later.

Regardless of the rapid development of shared bicycles, there are actually many problems.

For example, when you get off work at night, you may find that there are no cars in front of the company, and a lot of cars are parked in front of the community. When you go to work in the morning, there are no cars in front of the community.

To solve this problem, the operating costs are astronomical.

Also, within your management team, corruption is prevalent. Even people outside have heard that people at the grassroots level can make tens of thousands a month, and it is normal for a little higher to hundreds of thousands. .

The wool of funds can be squeezed, and the capital is also psychologically prepared, but it is not the way you squeeze it.

David has no management experience at all, and he is obviously not a person who is good at delegating power.

In addition, although shared bicycles have only been developed for a few months, many bicycles have become scrap iron after experiencing the sun and rain, as well as the violent treatment of users.

FOR's bicycles are the worst because they are of the worst quality.

Pei Qianlong has already seen the future of shared bicycles from FOR, and he deeply agrees with Mr. Lin's point of view. This industry cannot last for a long time, and the best situation is to withdraw after a wave of profits.

He has even begun to feel unconfident.

Can FOR last until March or April next year?

If you don't wait until March or April next year, Kleist can withdraw now.

In the FOR project, Kleist invested a total of 265 million in the name of Dalong Technology. According to the valuation of the C round, if it changes hands now, it can sell for 1.2 billion.

If this project is withdrawn now, it will earn one billion.

If FOR collapses before March or April next year, then the two billion yuan will be in vain.

money back?

nonexistent!

If FOR goes bankrupt, their assets will not even be able to refund the user's deposit, and it is impossible to pay off the supplier's payment, let alone the investment return that is put in the last place.

If the quality of the FOR car is too poor, then the car that worships is of too good quality.

Well overdone.

The life of a worship bike is designed for 5 years, and FOR may only last for 3 months, so so far, there are very few worship bikes in the scrap metal piles made by shared bicycles.

However, the higher the quality, the higher the cost.

Others can build a car for 800 yuan, but she wants 3,000 yuan.

The market is not as big as FOR, but her speed of burning money is not slow at all, even worse.

This time, Hu Wei asked for 1.5 billion in financing.

Bigger appetite than FOR.

The main reason is that she spends money quickly.

In addition, the backward market share made Hu Wei a little anxious. On the one hand, she needs funds to build a car, and on the other hand, she also needs to spread the market.

Worship currently ranks first in the industry in terms of market share growth rate.

The growth rate is very fast. If the growth rate is fast, everyone will be optimistic about the future of this project.

Don't worry if no one buys it.

Because of its better quality and more comfortable riding, Worship Bike has a better reputation than FOR, and everyone also thinks that Hu Wei is doing a long-term business here, and it will definitely surpass FOR in the future.

Last time, Panda Capital and Joy Capital entered the game.

This time, in addition to Panda Capital’s follow-up, a large number of big names in the capital circle such as Sequoia Capital and Hillhouse Capital have also been added.

It's like a pack of wolves surrounding a piece of meat.

This time, Pei Qianlong represented Cold Winter Capital, and also worshiped the second largest shareholder of this project.

His request is very simple, Winter Capital keeps 25% of the share, and the rest can be sold out.

And Hu Wei, the founder, is even more generous than Pei Qianlong. She originally held 32% of the shares, but now she is willing to release 12%, which means that she has changed from the largest shareholder to the second largest shareholder. Winter's capital is even lower.

And these sacrifices she made, in exchange for the high valuation of worship.

The pre-financing valuation has been pushed to 3.5 billion—higher than FOR. Once the financing target of 1.5 billion is completed, Worship Bicycle will become 5 billion.

So, is it difficult to complete this valuation?

It didn't work for two days. The person in charge of Panda Capital, who was in charge of initiating this round of financing, was about to explode his phone.

Sequoia, Warburg Pincus, Hillhouse, Joy Capital, Sinovation Ventures, Bertelsmann, and even Tuanmei and Penguin, these are the capitals that are allowed to enter the market, and there are many, many others that are blocked.

In contrast to David David of FOR, he only introduced one younger brother to travel in the C round.

Because he was afraid and because he didn't want to be swallowed by capital, he chose a younger brother who could help his FOR to travel.

The valuation is also timid, and in the end, the valuation of FOR is one billion lower than Worship.

Before and after, but the gap is a week and a half.

The pre-financing valuation was 3.5 billion, and the original 30% of Winter Capital was worth 1.085 billion. To ensure 25% of the 5 billion valuation, the difference of 200 million must be made up.

As for Hu Wei, due to dilution, there are a lot of shares.

She immediately withdrew 85 million.

A project that hasn't arrived in a year has already brought her a real wealth of 85 million yuan. This is not counting the 20% share at a valuation of 5 billion yuan, but it is worth 1 billion yuan.