My Age of Investment

Facebook's picture tagging function came out as a big killer and immediately captured the love of countless students.

The new feature has an electronic photo album, which can store your own photos, which can be shown to others in addition to being browsed by yourself.

You can upload your own life photos, sexy photos, or photos of your clothes anyway.

Girls like this feature very much, especially girls with beautiful faces and hot bodies, who have a chance to show themselves.

Boys are also full of praise for this function, this wave of benefits is good!

The feature of tagging friends increased interaction between friends and quickly made the feature go viral.

In just a few days of launch, most users have learned about this new feature of Facebook.

In addition to bringing more pageviews and users' online time, Facebook's servers have also begun to strain.

All this money should be spent, Xia Jingxing was not stingy, he continued to add servers with a wave of his hand, there was no major problem with funds for the time being.

The launch of this new feature of Facebook has naturally been targeted by various competitors.

Plagiarism is all it takes, without any psychological burden and legal pressure.

The function of uploading pictures has been around for a long time, and the portal website has it in that era, and the patent is not in the hands of Facebook.

They each changed the details to avoid the problem of infringement.

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Xia Jingxing drove a newly acquired and second-hand BMW, and drove Andrew to the east of Palo Alto.

The further east you drive, the fewer buildings there are.

They stopped in an office area near the airport, and after parking the car, the two walked down.

"Which small company? The office is so remote?"

Xia Jingxing smiled, "Don't say that, there is an old saying in China: Heaven will give a great responsibility to man, and he must first suffer his will, work his muscles and bones, starve his body and skin, empty his body, and disturb him by his actions. For what!"

Andrew was stunned for a moment and thought hard, but couldn't remember the source of this sentence.

"You're dumbfounded, so you need to exercise more, as a China expert, and stop shouting that you are proficient in Chinese culture."

Andrew shrugged, helplessly.

"The founder of this company is a member of PayPal, which became a multi-millionaire after PayPal was acquired by eaby last year..."

Xia Jingxing introduced LinkedIn to Andrew while walking.

"So rich, yet so economical?"

Bearing his hatred in mind, Andrew ridiculed Xia Jingxing in turn: "Daren, you have to learn from others!"

Xia Jingxing glanced at Andrew, "We are different!"

Andrew: "What's the difference?"

Xia Jingxing: ...

"LinkedIn's development is much slower than ours. If you don't save a little, you will burn up all the funds, and if you can't get financing, you will have to wait to die."

Xia Jingxing did not forget to comment at the end: "An entrepreneurial veteran like Hoffman understands the importance of the capital chain very well.

If difficulties arise in the future, every little bit of money spent today may mean the company can drag on for an extra day. Dragging dragged, things ushered in a turning point. "

Andrew nodded, "That's right, if I were an investor, I would definitely like this kind of entrepreneur."

Xian glanced at Xia Jingxing and sighed, "As for you, I feel like you can't get off the pirate ship."

Xia Jingxing smiled and said, "We are earning this.

continue reading! More, more spending, can not be generalized. "

The two laughed and joked and came to LinkedIn.

Reid Hoffman stood at the door of the company to greet the two like a god of doors.

"My friend, you are finally here."

Hoffman shouted very exaggeratedly, as enthusiastic as seeing an old friend he hadn't seen for many years, stepped forward and gave Xia Jingxing a high five.

Happy like a fat man weighing more than 200 pounds!

Saying more than 200 catties did not wrong him, because he had a rough waist and a high belly, as if he was pregnant.

His hair was also very disheveled, and he was wearing a wrinkled shirt,

The mouth was not tied properly, and two sexy chest hairs ran out.

Wearing a pair of black-framed glasses, Hoffman is sloppy, not like a multi-millionaire at all, more like a dead fat house.

After high fives with Xia Jingxing, Hoffman shook hands with Andrew again and introduced himself to each other.

Both of them are very fat, and their age and educational background are similar.

Hoffman, 36, graduated from Stanford and Oxford, and has worked for Apple and Fujitsu.

Strictly speaking, LinkedIn is his third venture.

The second startup was PayPal, and the last was in 1997 with The Social Networking Company, an online dating, online dating service where users could find golf buddies, roommates, and more.

Entrepreneurial ideas are quite advanced, and there are deviations in business ideas, which eventually lead to the failure of entrepreneurship.

But Hoffman is convinced that social networks contain huge amounts of energy waiting to explode, so he founded LinkedIn, and he has always been obsessed with investing in Facebook.

"Let's go, the others are still waiting inside."

Hoffman led Xia Jingxing and the two into the office.

After entering the office, Xia Jingxing took a few casual glances. The area is not large, and the decoration is very simple and messy. The environment is not as good as the Facebook office in the incubation base.

Someone came in, and the three programmers looked up and resumed their work.

LinkedIn is very small at the moment, with a total of 8 people including the five founders.

That is, 5 bosses, 3 employees...

Following Hoffman into the conference room, the **person was already sitting inside, all eyes focused on Xia Jingxing who was walking behind.

"Let me introduce, this is the founder and CEO of Facebook, Darren."

After introducing Xia Jingxing with a big laugh, Hoffman introduced a middle-aged man with mixed silver hair and a friendly face next to him, "This is Mr. Josh Kopelman, managing director of the first round of capital."

Xia Jingxing was looking at the other party, and the other party was also looking at him.

"Very good founder, nice to meet you, and I've been hearing your name and Facebook's name a lot lately in Silicon Valley media coverage."

Copperman had a kind expression on his face, smiled and shook hands with Xia Jingxing.

"Nice to meet you as well, Mr. Kopelman. I've heard of your Infonautics encyclopedia site, which is nine years older than Wikipedia."

Being scratched to the itch, Kopelman's smile deepened by three points.

The reason why Xia Jingxing knew the other party was indeed because the other party was very famous, and it would not be an exaggeration to say that the Internet was trending in the last century.

??Founded a profit-seeking encyclopedia website Infonautics in 1992, and went public in 1996;

continue reading! The e-commerce website he founded was acquired by eaby for $350 million in 2000;

TurnTide, an anti-spam company founded, was acquired by network security giant Symantec for $28 million just six months after its founding.

He has succeeded in entrepreneurship for many times, and he has also become an investor in transition. He has been ranked among the best XX people in global venture capital for many times.

"This is Mr. Michael Moritz, a partner at Sequoia Capital."

Another middle-aged white man with glasses, slightly bald hair and the same hairstyle as Jobs got up with a kind smile on his face, shook hands with Xia Jingxing, and said with a smile, "Are you still studying at Stanford?"

"Yes, Mr. Moritz!"

"Stanford is a good university, with a large number of successful Internet entrepreneurs such as Jerry Young and Larry Page."

After finishing speaking, Moritz looked at Xia Jingxing a few more times and said with a smile, "When I invested in Jerry, he was twenty-seven years old. You are younger than him, and I look forward to your greater achievements."

Although Xia Jingxing often boasted in front of Andrew and others that he was better than Yang Zhiyuan, he was still relatively modest in front of outsiders.

"Overrated, Mr. Moritz."

Xia Jingxing looked at the legendary investor in front of him with a smile. The other party was the second-generation head of Sequoia Capital. He was born in history, majored in non-financial/economics, and worked as a reporter and writer for Time magazine.

?? In 1986, at the age of 32, he joined Sequoia Capital and joined the venture capital business, investing in a series of well-known companies such as Yahoo, Google, PayPal, and YouTube.

The reason why I missed Facebook was entirely because I was pissed off by Xiao Mazi.

Zuckerberg helped his partner and another shareholder, Sean Parker, to vent his anger. He was deliberately late at a meeting, deliberately dressed in pajamas, and played the "Ten Reasons You Shouldn't Invest" PPT.

After receiving investment from Sequoia, he gave up on his own initiative, deliberately humiliating Sequoia Capital.

This person not only has the same hairstyle as Jobs, but was also a good friend. Because of the biography of Jobs, he broke the news that Jobs had an illegitimate child when he was in high school.

The most interesting thing is that the legendary investor called Silicon Valley to learn from Chinese Internet companies.

Learn 996, learn to respect women, learn to be frugal...

After shaking hands with the two investors, Xia Jingxing shook hands with their entourage one by one.

Hoffman introduced Xia Jingxing to his four partners: Alan Bleu, Konstantin Gulick, Li Xien and Joao Luke Vilente.

These four were all his former colleagues, or classmates, who were drawn by Hoffman to start a business together.

LinkedIn's entrepreneurial ideas and initial funds were provided by Hoffman, so Hoffman is the CEO and largest shareholder, and the other four do not occupy the company's decision-making leadership.

LinkedIn itself is like an international company, with five founders including two Americans, a Chinese-American, a French and a German.

Li Xien is the Chinese-American. He studied at Stanford and MIT, and is Hoffman's Stanford classmate.

?? In 1996, Li Xien once founded a website designed to build customer relationships for Fortune 500 companies, and four years later sold it to a Nasdaq-listed company.

These four co-founders were much less famous than Hoffman, and Xia Jingxing didn't know much about them, so he sat down after saying hello.

Andrew

continue reading! As Xia Jingxing's lawyer, he also shook hands with the group and briefly introduced himself.

After a while, everyone sat down at the long table in the conference room.

Hoffman swaggered in front of the long table and played the PPT.

I have to say that Hoffman is well versed in the essence of PPT financing, from pages to fonts, they are all beautifully made.

It can be seen that this fat man is only rough on the surface, but is actually very delicate on the inside.

Because it was a Series A financing and the product was launched, Hoffman stopped talking about various concepts, but talked about data and business models.

"Sixty thousand members!"

Hoffman showed the total number of LinkedIn users generously, and said with a smile: "As of now, there are only so many registered users on LinkedIn. Don't think that this data is small, we are still exploring user growth in the early stage. method, the right way has now been found.”

Xia Jingxing glanced at Kopelman and Belz, both of them were calm, their expressions were normal, and they did not express any objection.

Compared with the cold data, it is obvious that Hoffman and LinkedIn's business model are more recognized.

In his previous life, Xia Jingxing had also heard about the dilemma of user growth in the early stage of LinkedIn's entrepreneurship. At the end of 2003, when the A round of financing had been obtained, the total number of users was only 78,000.

Breaking through one million users will take 16 months to launch.

Therefore, starting a business from zero to one is the most difficult step.

"In order not to affect our judgment on LinkedIn, please tell us what is the correct user growth method?"

Belts spoke with a faint smile on his face.

"Wait a minute, please sign this confidentiality agreement."

Hoffman is a veteran of his own business, and he has a lot of experience. With a wave of his hand, a co-founder began to distribute non-disclosure agreements to everyone.

Xia Jingxing took over the agreement and showed it to Andrew. The content was not complicated. The main purpose was to let the investors involved in the financing negotiation keep business secrets for LinkedIn.

LinkedIn is the disclosing party, Xia Jingxing and two other investment institutions are the recipients.

The recipient shall not disclose, inform, publish, publish, publish, teach, transfer or any other means, directly or indirectly, disclose any confidential information, or use it for purposes other than the proposed cooperation.

Even for media interviews and reports, the recipient cannot disclose LinkedIn's business information at will, unless LinkedIn's written consent is obtained.

If the final financing is unsuccessful, the recipient also needs to return various written or electronic information, materials and data provided by LinkedIn.

In addition to these, there are many articles, which are in the category of confidentiality, and the rights and obligations of both parties are displayed and divided, including the liability for breach of contract, the validity period of confidentiality, etc., which are very detailed.

This is mainly to prevent the financing from being unsuccessful and the core business competitiveness of the company being revealed instead.

Especially when it comes to competitors, that's too bad.

After everyone signed the non-disclosure agreement, Hoffman spoke with confidence.