Global Monopoly of Technology

At the same time, Xu Chenghua looked at Luo Sheng and asked neatly, "Brother Luo, how much venture capital do you want this time? How much equity do you sell? For you, let's nod or shake our heads."

Others don't speak, obviously they have no objection. With the previous foreshadowing and experience of Luo Sheng's strength, they are too lazy to open their own conditions. Anyway, if he is dissatisfied and the final result is the same, then this link will be omitted. , let Luo Sheng speak on his own initiative, then nod or shake his head.

When you come across such a founder, you don't want to take the initiative, or don't invest money.

Luo Sheng said simply and clearly: "According to the valuation of 1.1 billion after the pre-A round of financing, I want 77 million yuan, which is to sell 7% of the equity."

Xu Chenghua and the other three investors who came to occupy the pit did not speak up, they just acquiesced. Now Liu Wen and the three of them dare not underestimate the young founder.

The valuation of 1.1 billion is closely related to the highest valuation in their hearts. Li Yan's valuation of Bluestar Technology fluctuates between 1.0 and 1.3 billion.

Hearing this, Liu Wen couldn't help but regret once again that he couldn't grab Xu Chenghua to get the angel round investment first, which made the old horse occupy the biggest hole and paid the least money.

So angry!

1 million sold 8% of the equity, and now 77 million sold 7% of the equity.

However, although it is too late to grab the pit now, it is not too late. The pre-A round of financing is much stronger than the subsequent rounds of financing. As long as the development momentum of Bluestar Technology is good, the subsequent valuation will only get higher and higher. The same proportion of equity is not tens of millions, but hundreds of millions or even higher, of course, the risk will be lower and lower.

The sale of 7% of the equity financing is 77 million yuan, and the equity of the original shareholders will be diluted accordingly.

It is worth mentioning that Xu Chenghua, on behalf of Tengxun, signed a weighted average clause to ensure that the preferred shareholding ratio will not be diluted wildly in the angel round of financing invested by Bluestar Technology. Similarly, the three newly joined shareholders will also require Sign the weighted average clause to ensure that the share ratio will not be wildly diluted during subsequent financing.

Luo Sheng will naturally agree, everyone is the same.

However, the investors asked to set up a board of directors and a board of supervisors as soon as possible. Luo Sheng temporarily compiled a bunch of reasons for the early stage of the company's development and rejected it. What he said was reasonable, and the investors agreed to him temporarily. Anyway, there is a "Shareholders Agreement" It's not a big deal to make a special agreement.

Liu Wen said: "I agree with this valuation, and I am willing to invest. I can agree to the absence of a board of directors and a board of supervisors for the time being, but I have one last request, Mr. Luo, you must agree."

Luo Sheng: "Please speak."

Liu Wen: "Bluestar Technology has completed the angel round of financing, but I found that President Xu does not seem to ask you to set up an option pool reservation. Before the pre-A round financing stage, an option pool must be established to prepare for the company to recruit talents in the future. Stay, the option pool will be distributed by your founding team, as well as Teng Xun, after completing this step, we will proceed with the pre-A round of capital increase and share expansion."

Xu Chenghua smiled and said, "I forgot to mention this at the time, and I lost a lot of money."

The three new investors laughed, as if to say: I believe in you!

In fact, I really forgot, Xu Chenghua was very helpless.

Luo Sheng did not object to this, and nodded: "No problem, we reserve 15% as the option pool, but I will hold this 15% option pool and enjoy voting rights."

Several major investors also expressed no objection.

In fact, at the stage of the angel round of financing, investors should request the establishment of an option pool, but Xu Chenghua did not mention this at the time, and Luo Sheng certainly wouldn't foolishly propose it. Now QQ's 8% equity will also be diluted and part of it will enter the market. Option pool.

This is not one of the weighted average terms.

After roughly finalizing the overall situation, the next step was relatively smooth, and it took another twenty minutes.

The two parties discussed the results and reached a consensus, which basically determined the equity structure of Bluestar Technology after the pre-A round of financing.

After the completion of the pre-A round of financing, the proportions of the major shareholders are as follows:

Option pool reservation: 13.95%

Luo Sheng: 65.4534%

Tengxun: 9.124%

Xu Yong: 7.2726%

SoftBank Capital: 1.7%

Venture capital funds: 1.4%

IDG: 1.1%

Among them, the equity reserved in the option pool is held by the founder Luo Sheng.

Due to the issue of setting up an option pool in this round of financing, Tengxun suffered a bit of a loss. Originally, it held 8% of the shares. The establishment of the option pool was partially diluted, but after the completion of the pre-A round of financing, Tengxun's total shareholding ratio rose to about 9.1 %, became the second largest shareholder of Bluestar Technology and the largest external investor, while Xu Yong became the company's third largest shareholder.

Several major investors invested in Bluestar Technology according to their respective shareholding ratios, with a total of RMB 77 million.

From the pre-A round of financing, it can be seen that the sooner you occupy the pit, the less money you invest, and the more equity you hold, but at the same time, the greater the risk;

Conversely, the later you occupy the pit, the more money you invest, and the less equity you hold, but the less risk you take at the same time.

Luo Sheng reached an unanimous consensus with several investors. The next step is the official signing ceremony, but instead of signing the contract at the Blue Star Studio, he decided to go to the Baiyue Hotel to complete the official signing ceremony.

When recruiting new employees before, Luo Sheng didn't hire a lawyer because he couldn't afford a professional lawyer. Now that he has raised money, he can hire a team of lawyers to take charge of the company's legal affairs.

As for the signing of this pre-A round of financing, Luo Sheng will not sign it rashly. The contract is drawn up by the VC side. He needs to temporarily hire a lawyer to review the contract to avoid traps in the contract. It is best to let a professional lawyer to solve the complicated terms and conditions. As for the lawyer's fee, it can be included in the company's financial expenses for reimbursement.

All of Luo Sheng's actions are seen in the eyes of Xu Chenghua, Li Yan and several other investors. He is too cautious, and he will hardly let himself let go of any potential mistakes. Find.

In this regard, several investors are not only helpless, but also relieved a lot. With a founder like Luo Sheng at the helm of the company, their confidence has increased a bit.

After all, only if the company operates well can investors have a profit return.

After the interests were negotiated, the attitudes of several investors towards Luo Sheng also changed. They all left the reception room with a smile and left the Bluestar Technology Studio to sign the contract.

Xu Yong and the others saw Luo Sheng following a few VCs out, and they quickly caught Irene who was following.

"Xiao Ai, wait a minute, how's the boss talking with those investors? It depends on the situation. How much money was raised?" Xu Yong said impatiently.

"77 million to sell 7% of the company's equity, come back, you can ask Brother Luo." Irene said a simple sentence and quickly followed him out. He is Luo Sheng's assistant, and this time he went out to sign a formal contract. past.

When an employee heard this astronomical figure, he couldn't help smacking his lips: "My God! 77 million yuan, but only 7% of the equity was sold. Last time, the angel round of financing was 100 yuan, but 8% was sold. This time, 77 million yuan was actually sold. 1% less? Are those VCs caught in the door? I was wrong, I shouldn’t question the boss.”

...

Baiyue Hotel, a conference room.

There were more than a dozen people in the room. Luo Sheng and 4 investors sat at the conference table together, and before they knew it, more than three hours had passed.

Sister Aileen sat on the right side of Luo Sheng, and on the left sat a lawyer team consultant he invited from the law firm.

The conference room was very quiet at the moment. The team of lawyers who took over the case was silently reviewing the contract just drawn up. After a few minutes, they finally closed the documents. The person in charge looked at Luo Sheng and said, "Luo Sheng. The contract is fine, sir."

Hearing this, Luo Sheng nodded, and sister Aileen, who was sitting next to him, understood it, and gave Luo Sheng the official seal of Bihe company.

There are four contracts and eight documents in total. Luo Sheng signed one by one with a big pen and stamped with the official seal of Bluestar Technology. Then the two parties exchanged documents. Li Yan and the others got their respective contracts and completed the signatures. share and shake hands with each other.

At this moment, Luo Sheng is shaking hands with Li Yan, the investor in charge of SoftBank Capital, and said with a smile: "Mr. Li, take the contract and wait to count the money in the future. This contract will be conservatively valued at billions in the foreseeable future."

Li Yan shook hands with a condensed smile, billions? That is to say, the market value of Bluestar Technology will reach six or seven hundred billion in the future?

I really don't know how to respond to him, Li Yan smiled and said: "Mr. Luo, your cake is getting bigger and bigger, and it's getting more and more empty."

After signing the contract and shaking hands with Luo Sheng again, Xu Chenghua smiled and said, "So, my 9 points are worth more than 50 billion?"

Luo Sheng smiled and said, "Let's look forward to it."

...