Chapter 281: Reporting a $300 Million Valuation and Getting Into the Tent
"Oh, how much investment should Mr. Sun give this time?" Li Xiaofan asked.
"Thirty million dollars!" Jerry Yang's excitement on the phone was palpable.
"Wow, such a big sum, how did SoftBank Group value our company Yahoo?" Li Xiaofan was still shocked when he heard that it was US$30 million. In his previous life, SoftBank decided to invest $100 million in Yahoo before it was listed on the Nasdaq early next year.
"This time Mr. Sun's valuation of our Yahoo company actually reached 100 million US dollars. He wanted to invest 30 million US dollars for 30% of the shares. Affan, when you invested in our Yahoo half a year ago, our company's valuation was only 4 million The U.S. dollar has now increased 25 times!" Yang Zhiyuan said happily on the phone, and it was clear that he was very excited.
Li Xiaofan understands Yang Zhiyuan's excitement. After all, the first round of investment by Sequoia Capital and Singapore's Yifan Company in Yahoo was only US$2 million, and the second round led by Li Xiaofan was only US$4 million. This time, it was worth tens of millions. U.S. dollar level, and it’s 30 million U.S. dollars. Any founder would be excited.
Li Xiaofan said to Yang Zhiyuan: "Jerry, I understand your mood, but we cannot agree to this condition of SoftBank Group for the time being. I personally think that our current valuation of Yahoo should be worth at least US$300 million. If SoftBank wants to invest, US$30 million can only account for 10% of the shares at most..."
"No way, Affan, did I hear correctly, our Yahoo company now has a valuation of US$300 million?" On the other end of the phone, Jerry Yang felt that the valuation of US$300 million seemed a bit exaggerated.
"Yes, it is US$300 million. Jerry, please believe me! With the recent surge in Netscape's stock, the release of Microsoft's Win95 window system, and a wave of investment in the Internet on Wall Street, our Yahoo company will become more and more The more valuable it is. And according to my personal speculation, Mr. Sun is now eager to invest in our Yahoo company in addition to pursuing In addition to high returns to cope with the huge debt caused by their recent acquisitions by SoftBank Group, SoftBank Group also wants to imitate our Yahoo Singapore company and open a Yahoo Japan station in Tokyo. So, Jerry, don’t worry, you and Ferro, listen to me. Dare to offer US$300 million to SoftBank Group. If they really want to invest US$30 million, they can only hold 10% of the shares!”
"Afan, what you said makes sense. Indeed, there are quite a few Yahoo venture capital companies that have come to me and Ferro from Wall Street recently, asking for investment and equity. But people like SoftBank Group can give us three thousand in one go. There is no company that has given us US$100 million in cash and valued Yahoo at US$100 million, and SoftBank Group is the first!”
"Jerry, the phenomena you mentioned show that Yahoo is receiving more and more close attention from Wall Street, and the huge market value of Yahoo's search engine is increasingly reflected. In my personal judgment, next year our Yahoo company will be like Netscape. When the Nasdaq is listed, it will no longer be valued at US$100 million. I think our Yahoo CEO will at least have the same market value of US$1 billion as Netscape was when it was listed!”
After hearing this, Jerry Yang laughed loudly on the other end of the phone: "Haha, 1 billion U.S. dollars, Afan, I never dreamed of it! It has only been half a year since we founded Yahoo, and now SoftBank has given us a valuation of 100 million U.S. dollars. It’s far beyond what Ferro and I expected…”
Li Xiaofan encouraged: "Jerry, please believe me, US$1 billion is really not far away. I now suggest that you talk more with Mr. Moritz from Sequoia Capital and start Yahoo's Nasdaq listing as soon as possible. Process! Here at Softbank Group, Jerry, let’s talk to Mr. Sun about my offer first, and we shouldn’t agree to their offer easily!”
"Okay, Affan, then I will listen to you first and talk to Softbank and the others. We will contact you if there is any feedback from Mr. Sun."
…
After the supper in Geylang, everyone dispersed at about five o'clock. Li Xiaofan asked Daisha and some employees to go home and rest first.
Some people followed Li Xiaofan back to his office at the Singapore Science Park.
Li Xiaofan bought everyone mattresses, tents, and toiletries in the office. He also stayed with everyone in the office these days.
I learned this from Alibaba in my previous life when preparing for Double Eleven. At that time, the three-piece set necessary for Alibaba’s office was: tent + camp bed + Red Bull.
When Mr. Ma started his business, it is said that he and the eighteen Arhats crowded into a rented house, eating, drinking, sleeping, and working together. According to the recollection of Peng Lei, later chairman of Ant Financial, the young man who was responsible for delivering meals came to Alibaba at that time and once thought it was a pyramid scheme team. At that time, Mr. Ma encouraged employees: Treat the company as your home. How can you not have a place to rest at home? Therefore, after Alibaba became successful, each employee was provided with a tent and a camp bed. The purpose is to allow employees to take a break during lunch breaks or working overtime at night.
On the night of Double Eleven every year, Alibaba goes all out to fight with all its firepower, and all employees sleep directly in the company building...
Li Xiaofan doesn’t particularly appreciate this kind of overtime culture, but in the early days of starting a business, everyone must be able to endure hardships together!
At present, Pan Zhanlong, Gu Qijun and some newly recruited overseas students from mainland China are basically young singles. Like the Arhats who followed Teacher Ma, they are also full of passion and enthusiasm in the early stages of entrepreneurship.
The new office in the Science Park is spacious and air-conditioned. The beauties Liu Yanping, Zhou Xiaoqing and Daisha, who are responsible for the post-production support, are not only pleasing to the eye, but also because Li Xiaofan has given them enough budget, the beauties will provide them with whatever food the guys like to eat.
In addition, Li Xiaofan has recently paid them three times the overtime pay every day, so these young people are full of passion when they work.
In fact, after leaving the campus, everyone still enjoys this kind of collective life. It feels that the company is like a warm big family. Li Xiaofan is like their leader, full of personal charm.
When everyone was waiting for a taxi on the street in Geylang, Gu Qijun joked: "Boss Li, can I cancel the room I rented outside, save some money, and then apply for a permanent tent to live in the company?"
Li Xiaofan laughed: "Oh my god, classmate Gu, you won't bring your girlfriend and wife to live in our office in the future, right?"
...
Li Xiaofan took Gu Qijun and others back to the office. Everyone took a simple shower and went into their tents to rest.
Li Xiaofan slept in his independent office until ten o'clock in the morning, when his cell phone rang.
He opened it and saw that it was Guo Hanyue calling.
"Yueyue, what's the matter?" he asked lazily.
On the phone, Guo Hanyue said excitedly: "Afan, the news of the launch of your Yahoo Singapore station has been on TV and is being broadcast now!"