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 want to sell? For you, we nod or shake our heads."

Others didn’t speak, and obviously they had no objection. With the previous preparation, they learned Luo Sheng’s strength, and they didn’t bother to set the conditions on their own. Anyway, if he didn’t say anything, he would save this link. , Let Luo Sheng take the initiative to speak, then nod or shake his head.

When you encounter this kind of founder, you don't want the initiative, or don't invest money.

Luo Sheng said simply and clearly: "Pre-A round of financing 77 million yuan to sell 7% of the equity, valued at 1.1 billion."

Xu Chenghua and the other three investors who came to Zhankeng did not speak, they just acquiesced. Now Liu Wen and the three dare not look down on the young founder.

The valuation of 1.1 billion is inseparable from the highest valuation in their hearts. Li Yan's valuation of Bluestar Technology fluctuates between 1 and 1.3 billion.

Hearing this, Liu Wen couldn't help regretting once again that he hadn't been able to grab Xu Chenghua to get the angel round investment first, which made Lao Ma occupy the biggest pit 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, 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 become lower and lower.

The transfer of 7% of the equity financing of 77 million, the original shareholders' equity will be diluted accordingly.

It is worth mentioning that Xu Chenghua, on behalf of Teng Xun’s angel round of financing of Bluestar Technology Investment, signed a weighted average clause to ensure that the preferred shareholding ratio will not be madly diluted. Similarly, the three new shareholders will also require Sign the weighted average clause to ensure that the share ratio will not be madly diluted during subsequent financing.

Luo Sheng will naturally agree, everyone is the same.

However, investors asked for the establishment of a board of directors and a board of supervisors as soon as possible. Luo Sheng temporarily compiled a bunch of reasons for the initial stage of the company's development and gave him no. What he said is reasonable, and investors temporarily agreed to him. Anyway, there is a "shareholder agreement". It is not a big deal to make a special agreement to guarantee it.

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, but I have one last requirement. You must agree to Mr. Luo."

Luo Sheng: "Please speak."

Liu Wen: “Bluestar Technology has completed the angel round of financing, but I found that Mr. Xu did not seem to require you to set up an option pool reserve. Before the pre-A round of financing, an option pool must be established to recruit talents for the company in the future. Stay, the option pool is provided by your founding team, and Teng Xun, after completing this step, we will proceed to 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 suffered a lot."

The three new investors laughed, as if saying: I believe you are a ghost!

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

Luo Sheng did not object to this, nodded and said: "No problem, we set aside 15% for the option pool, but I will hold this 15% option pool and have the right to vote."

Several major investors also expressed no objection to this.

In fact, during the angel round of financing, investors should request the establishment of an option pool, but Xu Chenghua did not mention this at the time. Of course, Luo Sheng would not foolishly take the initiative. Now the 8% equity held by QQ will also be diluted. Option pool.

This is not included in the weighted average clause.

After roughly finalizing the overall situation, the next step went smoothly. 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. Up.

After completing the pre-A round of financing, the proportions of major shareholders are:

Reserve option pool: 13.95%

Luo Sheng: 72.726%

Teng Xun: 9.124%

Softbank Capital: 1.7%

Venture capital funds: 1.4%

IDG: 1.1%

Among them, the reserved equity in the option pool is held by the founder Luo Sheng, and the 3% reserved for Xu Yong has not been allocated to him. Luo Sheng has also discussed it with him if it is reserved for the option pool. It’s okay to go, but it is recommended that Xu Yong do not take it when he is occupying it, and wait until the IPO is listed before placing shares. If it is reserved from the option pool now, the financing will be continuously diluted in the future.

Obviously, Xu Yong chose to follow Luo Sheng's suggestions, and he also believed that Luo Sheng would not cheat him.

Due to the issue of setting up an option pool in this round of financing, Tengxun suffered a bit of a loss. Originally accounted for 8% of the shares. The option pool was partially diluted. However, after the completion of the pre-A round of financing, Tengxun’s total shareholding ratio rose to approximately 9.1 %, became the second largest shareholder and largest external investment shareholder of Bluestar Technology, and Xu Yong became the third largest shareholder of the company.

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

It can be seen from before and after the pre-A round of financing that the earlier the investment, the less money and the more equity they hold, but at the same time the greater the risk;

Conversely, the later you take up the pit and invest more money, the less equity you hold, but the less risk you take.

Luo Sheng and several investors reached an unanimous consensus. The next step is the formal signing ceremony, but instead of signing at Bluestar Studio, he decided to go to Baiyue Hotel to complete the formal signing ceremony.

When recruiting new employees before, Luo Sheng did not recruit lawyers because he could not afford to hire professional lawyers. Now that he has the 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 rashly sign the contract. The contract is drawn up by the VC. He needs to hire a lawyer to review the contract temporarily to avoid traps in the contract. He himself does not want to see these painful brains. It is best to let professional lawyers solve the complicated clauses. As for the lawyer's fees, it can be included in the company's financial expense reimbursement.

All of Luo Sheng's all this can be seen in the eyes of Xu Chenghua and Li Yan. He has been too cautious and will hardly let himself let go of any potential mistakes. Even if he sets up a set, he will probably be caught Find.

In this regard, several investors were helpless, but relieved a lot. With founders like Luo Sheng at the helm of the company, their confidence has increased a bit.

After all, only if the company is operating 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 talking and laughing, and left the Bluestar Technology Studio to sign the contract.

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

"Xiao Ai, wait a minute, how is the boss talking with the investors? It depends on the situation, how much money has been raised?" Xu Yong said impatiently.

"77 million transfers 7% of the company's equity. When you come back, you will ask Brother Luo again." Irene said briefly and quickly followed out. He is Luo Sheng's assistant. This time he goes out to sign a formal contract. past.

When an employee heard this astronomical figure, he couldn't help but slapped his lips: "My God! 77 million, but only 7% of the equity was sold. The last time the angel round of financing 100 was sold 8%, this time 77 million. Is it 1% less? Did those VCs get caught in the door? I was wrong, I shouldn’t question the boss."

...

Baiyue Hotel, a meeting room.

There were a dozen people in the room. Luo Sheng and four investors were sitting at the conference table together, and more than three hours had passed without knowing it.

Ai Lin's sister sits on the right of Luo Sheng, and on the left sits a lawyer team consultant he invited from the law firm.

The conference room was very quiet at the moment. The lawyer team who took the case was silently reviewing the contract that was just drawn up. A few minutes later, they finally closed the document. The person in charge looked at Luo Sheng and said, "Luo Sheng. Sir, the contract is okay."

Hearing that Luo Sheng nodded, the sister Irene who was sitting next to her was quite understanding, and gave Luo Sheng the official seal of Bihe company.

There are a total of four contracts and eight documents. Luo Sheng signed one by one with a big pen and stamped the official seal of Bluestar Technology. Then the two parties exchanged the documents. Li Yan and the others got their respective contracts and signed them. They exchanged documents again, each holding one. Share and shake hands with each other.

At this moment, Luo Sheng is shaking hands with Li Yan, the responsible investor of Softbank Capital, and said with a smile: "President Li, collect the contract and wait for the future to lie down and count the money. This contract will be conservatively valued at billions in the foreseeable future."

Li Yan smiled while shaking hands, billions?In other words, the future market value of Bluestar Technology will reach six to seven hundred billion?

I really don’t know how to get back to him, Li Yan laughed and said: "Mr. Luo, your pie is getting bigger and bigger and more imaginary."

Immediately after signing the contract, Xu Chenghua shook hands with Luo Sheng again with a smile: "So, my 9 points are worth more than 50 billion?"

Luo Sheng smiled: "Let's look forward to it."

...