My Age of Investment

Xia Jingxing, Yu Yu, and Zhang Chenguang took a taxi to a well-known Chinese restaurant nearby.

In an elegant and quiet box.

Yu Yu simply ordered a few dishes, handed the menu to the waiter, and watched him leave the box and bring him to the door. She looked away, looked at Xia Jingxing with a smile, and asked, "Mr. Xia, I heard that you graduated from Stanford. of?"

Xia Jingxing waved his hands and chuckled, "I didn't graduate, I'm a dropout. I dropped out of school after only one year of study."

"Hehehe~"

Yu Yu laughed heartily, "Is the secret to successful entrepreneurship the first to drop out of school? The same is true of Mr. Bill Gates."

Xia Jingxing shrugged, "Perhaps, it's also possible that the business failed, the degree was not obtained, and in the end, even a job could not be found."

Yu Yu smiled slightly, "When the opportunity comes, if you don't be more decisive, you may not have the famous "Daren Xia" in China and the United States today.

To be honest, I admire Mr. Xia very much.

This is by no means a polite remark, but a sincere admiration. "

Xia Jingxing smiled and said nothing.

Yu Yu looked nostalgic, and said slowly: "I also studied in the United States and started a business abroad, and I have tasted the bitterness of it.

It was 1987, after I graduated from Beijing University of Foreign Studies majoring in English, I went to the United States with a delegation organized by the Ministry of Foreign Affairs, the purpose of which was to publicize our opening-up policy..."

Xia Jingxing didn't interrupt Yu Yu, and quietly listened to Yu Yu's life experience.

Zhang Chenguang is still in the old habit of quietly acting as the background board and not speaking during the whole process.

"After staying in the United States, I spent five years obtaining an MBA in finance and international business from New York University's School of Business Administration.

But just when I was full of ambition and ready to go to Wall Street to find a job, reality gave me a heavy blow. "

Yu Yu sighed, looked at Xia Jingxing, smiled and said, "At that time, I wrote three hundred job application letters, but all of them fell to nothing.

Since I couldn't find a job, I simply opened my own financial consulting company.

Fighting Wall Street from scratch. "

Regarding the other party's experience, Xia Jingxing was quite emotional, "Vision Capital's hedge fund department has opened a branch on Wall Street, and we are very aware of the exclusion there, especially since you are a Chinese and a woman!

At that time, China's large state-owned enterprises had not yet listed on a large scale overseas, and Wall Street bosses did not know the "correct usage of Chinese students studying abroad". "

Yu Yu smiled, "Haha, the correct usage of Chinese students studying abroad is very spiritual.

The financial consulting company I opened had a modest development in the first two years. Even if I worked 14 or 15 hours a day, and this working pace lasted for two years, it still couldn't move the company.

It wasn't until 1995, when I helped China Nonferrous Metals and Sanhuan Group acquire Magnet Corporation under General Motors, that my financial consulting company gradually gained a foothold on Wall Street. "

Xia Jingxing picked up the tea on the table and took a small sip.

“I hear this merger is interesting!

At that time, China Nonferrous Metals and Sanhuan, the acquirers, did not have any money in their accounts. You even borrowed travel expenses from Sinopec for them.

It was you who helped the Chinese side to pile up eight layers of debts. By issuing bonds and borrowing money, you bought GM's magnet company without paying a penny.

Most importantly, this merger was very successful, and the Chinese side earned US$130 million from the Americans. "

Xia Jingxing looked at Yu Yu with a smile, and made no secret of his admiration for this strong woman.

This is a standard "empty glove white wolf" M\u0026A case, and it also made Yu Yu completely famous on Wall Street.

Yu Yu smiled modestly, "Actually, it's not as legendary as everyone guessed. I just identified the needs of the two companies and let them get what they need."

Although Yu Yu's tone was very calm, Xia Jingxing knew that the success of the matter was not as easy as she said.

With dark skin, high cheekbones, and a big nose, it must be admitted that Yu Yu is not good-looking.

But it cannot be denied that there is something about this woman.

Although Chu Beiqing is the number one scholar in Peking University, but being able to marry Yu Yu is definitely a winner because the ancestral graves are full of smoke.

Every step of Dangdang's development and financing is inseparable from the shrewd Yu Yu and the network resources she has accumulated through years of hard work on Wall Street.

Therefore, it can be concluded that finding the right wife means that your life is multiplication.

After briefly talking about his Wall Street experience, Yu Yu talked about Xia Jingxing again.

"It is not easy for the Chinese to make a career in the United States!

We were mainly working hard on Wall Street at that time, and the work we did was just a small job, which was not successful.

People like Chen Hong, Deng Feng, Zhu Min, and you, Mr. Xia, can only be called vigorous in their careers.

You guys, a group of great people, have built companies with a market value of several billion and ten billion US dollars in Silicon Valley on the west coast.

Now the American society is discussing, what is the magical power of your group of overseas students from mainland China, why can you always turn stones into gold! "

Yu Yu looked at Xia Jingxing with a smile, "I saw the news that a Chinese student in his early twenties built a company in the United States with a valuation of 10 billion US dollars, and even got investment from Microsoft. They were all stunned!

The first reaction is, definitely fake news! "

Xia Jingxing let out a series of slight laughter. It has to be said that Yu Yu is really good at talking, and the flattery he shoots can easily make people feel elated.

Yu Yu asked some questions about the development process of Facebook, and Xia Jingxing answered them one by one.

The two chatted for a while, and gradually became familiar with each other, and each dish was served.

After taking a few mouthfuls of food, Xia Jingxing began to ask about Dangdang's situation.

"Sister Yu, how much do you plan to raise for Dangdang's B round of financing?"

Yu Yu raised his head, looked at Xia Jingxing, smiled and said slowly: "Dangdang's last round of financing was two years ago, Tiger Fund invested us 11 million US dollars, and the valuation at that time was 70 million US dollars.

Later, Amazon approached us again. They wanted to acquire Dangdang, and proposed a specific plan to acquire 70%-90% of Dangdang's shares for US$150 million.

But it was rejected by us, because we wanted to seek development and listing independently, rather than being a vassal of an international giant. "

Xia Jingxing calculated it in his mind. Based on Amazon's acquisition price, Dangdang's valuation is already quite high, reaching about 200 million US dollars.

Yu Yu added: "We don't have high valuation requirements for Series B financing. We plan to raise US$25 million to US$30 million at a pre-money valuation of US$200 million."

Xia Jingxing nodded. In terms of volume, Dangdang is currently the largest B2C website in China, because at this time Tmall has not yet been born, and JD.com has not yet risen.

Dangdang started selling books and audio-visual products, and was once regarded as "China's Amazon".

However, Amazon’s categories have expanded rapidly, and its volume has also grown rapidly. It is no longer the Amazon that only sold books in the past, but a huge e-commerce empire.

After many years, when Dangdang is mentioned again, everyone only knows that you can buy books on it.

Although Dangdang started early, it was established in 1999. It is considered to be of the same generation as eBay and Ali, but it was defeated in the B2C battle. , live broadcast e-commerce and many other outlets.

Although the seniority is high, the situation is similar to that of Sohu. It belongs to the forgotten big brother, and has never appeared in the mainstream sight of the Chinese Internet, except for a series of farces caused by the cup throwing celebration.

Xia Jingxing didn't keep Yu Yu waiting too long, and quickly responded to the other party after a little consideration, "Aside from us, is there any other capital involved?"

Yu Yu smiled, "IDG has supported our old shareholders since the angel round, and they are also interested in participating in Dangdang's B round of financing.

In addition to IDG, DCM and Walden International also approached us, and they all expressed certain investment interest in Dangdang. "

Xia Jingxing raised his head, said "Oh", and asked again, "Sister Yu, what is your idea? Do you want multiple capitals to participate together? Or, which institution is the most sincere, and which one will be the only one to invest in?"

Yu Yu shook his head, "We are not greedy, we just hope to introduce more diversified shareholders, so that everyone can work together to support Dangdang's development."

"Vision Capital has already invested in Ali, will this affect you?"

Yu Yu waved his hand, "President Xia, you don't have to worry about this.

I have worked on Wall Street and know a thing or two about venture capital. It is normal to invest in the circuit.

As long as you have not signed any agreement with Ahri, you don’t have to worry about Dangdang, we very much welcome Envision Capital to invest. "

Xia Jingxing looked at Yu Yu with a smile, "Okay, then it's settled!

After a few days, I will send people from the Jingzhe Fund to contact Dangdang. You should also call people from IDG, DCM, and Walden International, and let's sit down and discuss in detail. what do you think? "

Yu Yu nodded happily.

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