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Text 694. Mixed joys and sorrows

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    Regarding Yangyi Culture, in fact, Ma Huaqi had not even heard of it before he came into contact with the other party to be more precise, before the other party took the initiative to contact him, but later it was only because the other party actually came out with great courage.  Such a large investment made him curious and pay due attention to this company, and even the people who founded this company.  But even so, he didn't get much information, or it could be said that there was only a little information about Yang Yi culture itself.  In fact, the preparation period before establishment is only a few months, and even the two founders are partly just a temporary idea. How much information does it have for others to investigate?  Therefore, it is not that Ma received too little useful information, but that the situation of Yangyi Culture itself is very simple, and they do not need to deliberately investigate.  As far as the two Penguin Empire shapers have learned, Yangyi Culture is just an emerging enterprise in the cultural industry. It may be very special, and it is relatively popular in certain fields, but this kind of popularity is actually different from theirs.  has nothing to do with Tencent, because the two have nothing to do with each other. If Internet instant messaging is also related to the cultural field, then only madmen or fools may believe this statement, at least Ma Huaqi will not believe it.  of.  After conducting a relatively detailed investigation in this era, the two learned that Yangyi Culture's current business covers book publishing and distribution, animation industry, tourism and catering, online reading and many other aspects.  If you look at the above things vertically, they do fall within the scope of traditional Chinese culture, but instant messaging.  There is no way it can be related to any of them.  However, the business of Yangyi Culture is not a big secret. When we finally learned that there is a large business department of Yangyi Network under Yangyi Culture.  Moreover, after the Yang Yi network obtained the information that Yang Yi valued most, Ma Huaqi and Zhang Zhidong both felt somewhat clear at the same time.  Especially the latter.  I couldn't help but subconsciously expressed some worries and worries: "Lao Ma, you said that this Yangyi Culture is willing to make such a large investment in us, and its own blood transfusion ability is extremely limited, and it deliberately went out of its way to invest in us in the first round of investment.  It is stated in the contract that we cannot accept any capital injection other than Yangyi Culture. Do you think this is a conspiracy of theirs? ""Conspiracy, what conspiracy?" Although we are building a business together.  And they can be said to be like-minded friends, but the two people's ideas on specific matters are actually very different. In later generations, special Internet media even conducted a detailed analysis of the two. Perhaps those reports were not  It was a direct interview with the two people, so it was a bit of a one-person opinion. However, after this report came out, a large number of people who saw the content expressed more or less agreement with the above statement. Zhang Zhidong's  In terms of specific business, you may be more familiar with Chengdu than Pony Ma.  But as far as the real helmsman of the Penguin Empire is concerned, it is only the latter, and it can only be the latter.  So even though it is the same thing, two people have different views on it.  Often you will get different or even completely opposite views.  Just like this time, after hearing the concerns of his old partner, Ma Huaqi asked with a smile: "Why is it a conspiracy? Do you think Yangyi Culture's investment is actually with bad intentions? What they really want to do is  Is it the annexation of our Tengxun company or something? " "Who has the capital in this world to be truly well-intentioned and truly loved by those entrepreneurs?  The most humane voice in the industry is not necessarily a good person. The father of Internet investment was influenced by Eastern culture, so he was more particular about the methods and methods of doing things, so he gave the outside world such an impression.  If the party that accepts the investment cannot bring them enough benefits or does not accept their control, the consequences will definitely be completely different." Zhang Zhidong nodded, obviously not having any good impression of those investment capital: "Even if you are Lao Ma,  Don't you have this kind of view? You may have to be conciliatory before accepting investment, but you don't have any objection to that kind of vampire? " "When you say this, I feel like  Is it the delusion of a villain who puts down his chopsticks to scold his mother after eating?" Ma Huaqi laughed at himself twice, and then said seriously: "But contrary to your view of Yangyi Culture, I think they are optimistic about us.  He has made such a heavy bet and has no ambition to break through our bottom line." "What do you say?" Zhang Zhidong has always been convinced of his old friend's views on the general trend of the industry.  "If there is really an ulterior purpose, then why do they need to invest in us? They just need to set a price and buy the things we are tinkering with. Will everything be solved soon? According to what we have learned before, what they want is  Although business is still on hold?In the traditional cultural industry, the Yangyi Network Business Department is the department that the small shareholder is most optimistic about, and he has proven his optimism with practical actions, and what he is developing is in the current Internet field, relatively speaking.  It is considered a relatively advanced search engine service with such human resources. Do you think they will be embarrassed by a small instant messaging software?  Spending one or two million to establish a project is enough to develop software that meets the most basic communication needs. If we continue to invest around five to eight million, our communication software will be able to gain a firm foothold in the market and surpass ours.  .  " At this point, Ma Huaqi paused for a moment, and then added: "I mean surpassing Tencent, which has not received any capital injection.  " "So for such a company that is as insignificant as a small ant compared with other limelights, but is a giant compared with the previous Tencent, does it need to calculate against us?  " "But what does PCCW say?  They are even companies in the telecommunications field, and they also have some venture capital properties. Aren't they also interested in our software?  "Zhang Zhidong was a little confused. It was not that he was unconvinced and wanted to argue. During these years of cooperation, the two of them knew each other very well. Therefore, on such a major matter related to the future of the company, neither of them would  Maybe it’s just out of loyalty. Zhang Zhidong is really just asking because he doesn’t understand. “It’s not like you haven’t heard about PCCW.  They originally planned to give up on us, but because the first investment amount of 800,000 US dollars was too high, they only planned to provide 500,000 US dollars.  If Yangyi Culture hadn't intervened, how could they have made the next offer?  Of course, if Yangyi Culture hadn't intervened, maybe I would have agreed to an investment offer of US$500,000. I can't say for sure. I can only say that fate is rather unpredictable.  Ma Huaqi sighed with emotion: "So from the beginning, the attitude of the two towards us.  They all have different attitudes towards this investment.  " Hearing this, Zhang Zhidong came back to his senses and added: "What you mean is that PCCW is just like many investors who are optimistic about us, but they are not the kind to buy and leave, so they take it out casually.  If you win a sum of money in a bet, it is best not to feel bad even if you lose.  Yangyi Culture is not a professional venture capital institution, but it approached us directly and showed great sincerity. Is it because it is sincerely optimistic about us?  "    "That's what I mean.  Otherwise, why would they squeeze out such a sum of more than five million when they themselves do not receive any risk capital injection and their current revenue and expenses can only maintain the most basic micro-profit situation.  For them, especially Yangyi Network, can they support more than two months of funds for investment in us?  Ma Huaqi frowned slightly and smiled: "Look, isn't this why you are very optimistic about us?"  And at the same time they didn't make any acquisition requests.  If he doesn't even have the slightest similar idea, isn't he a good investor?  "    "this.  I can't tell you what you mean.  It's like they are interested in you, not our Tencent company or instant messaging software.  "Zhang Zhidong couldn't help but smile bitterly, and looked at Ma Huaqi with a hint of ridicule in his eyes. "What you said is a bit interesting, and I also think that this is basically the case.  But there is one thing. I want to correct that it is the two of us that the other party is interested in, not any one of us.  "Ma Huaqi laughed, and then couldn't help but frown even more tightly: "Of course, this kind of investors are good and bad for us. They appreciate and are optimistic about us. This situation is not good for you and me.  This is a very good situation, but the problem is that the other party is not a professional investment institution. If we need a second round of financing in the future and they cannot come up with the money, it will be a troublesome problem.  " "It's not that it's not specified in the contract. If we can't prepare enough funds when needed, then the clause that does not allow third parties to enter can be changed as appropriate.  "Zhang Zhidong was a little confused and looked at his partner hoping he would explain. "It is true that the change is allowed, but that's the problem. At that time, I also saw that they were willing to relax on this clause, so I forgot to specify it clearly when I was happy.  Conditions, such as what counts as a time of need, and how to change it as appropriate. These leave a lot of room for manipulation, and if it is just one that can be changed, I will inevitably have some disputes when I see it.  .  " "Forget it, why are you thinking so much? There must be a road before the car reaches the mountain. For those investors who don't need us to worry about the second round of financing, we have to worry about the investors who can easily come up with financing. After that, they will further raise funds.  It dilutes our shares in the company and affects our decision-making power in the company.  "Zhang Zhidong patted the other party on the shoulder, facing thisIn this situation, his decision-making is far inferior to Ma Huaqi, so he can only try to reassure himself and his partner: "How can there be anything perfect in this world? I can only choose one that looks relatively less so.  It’s an unacceptable path. “That’s right. After all, it’s just a trouble. It can always be solved if you make a decision and spend enough time. If you really encounter the kind of investor who eats people without spitting out their bones, then that’s what makes people sad.  It’s a headache.” At this point, Ma Huaqi himself figured out that after all, he is not one of the three giants who will dominate the Internet field in the future, and can even be received by the top of the country, but just a person who has made some achievements.  Entrepreneurs, different status and levels determine different visions and needs.  (To be continued)
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