Global monopoly of technology

Luo Sheng spent more than half a month on this North American trip. When he returned to China, it was already January 14.

It was a coincidence that the three founders of YouTube would join the Bluestar North America division. This surprised Luo Sheng. This shows that it is right to set up the division in Silicon Valley in the Bay Area.

During the time when I was on a business trip in the United States, news of the B round of financing had already spread back to China. It only sold 10% of the financing of 325 million US dollars, with a valuation of about ¥27 billion, making it the first unlisted single player in China. A beast-level startup company.

These figures, along with the news published in the media, made people in the domestic Internet industry startled. The amount of financing and the proportion of equity transfers shocked the industry.

Bluestar Technology was established in February last year, and it’s still less than its first anniversary, which is about 11 months. In less than a year, four rounds of financing have been conducted from the angel round to this round of B round of financing. Financing.

The first time was US$120,000, the second time was US$9.3 million, the third time was US$72 million, and the fourth time was US$325 million. In less than a year, Luo Sheng had already taken US$400 million in the hands of investors. Financing.

Its financing process is a myth, and there is absolutely no second in the industry.

For colleagues, they were shocked when they heard the news, and even doubted its authenticity for a while, but after it was proved to be true, it was full of envy, jealousy and hatred.

It's very angry!

For the same Internet entrepreneur, the gap is so big?

If you run to break your leg to raise a sum of money here, you may not get it, but you can get hundreds of millions of dollars in a random trip over there.

When the news just came back to China, the major media were reporting on Luo Sheng's Wall Street trip, and at the same time all eyes were focused on the bluestar technology startup.

Accompanied by many people in the industry are the same three questions: Why is Bluestar Technology valued at US$3.25 billion, or ¥27 billion?

As a start-up company that was only one year away from its establishment, it is not only young, but it has not yet made a cent of profits.

Why is it so favored by capital?

In less than a year, four consecutive investments, one more exaggerated, to vote for Luo Sheng so that he is not afraid of playing off?

The key is that those investment institutions that endorse Luo Sheng and Bluestar Technology have a larger backing, IDG, Venture Capital, Huajin Securities, Sequoia, Softbank, Morgan (subsidiary investment bank), Goldman Sachs, any of them in the capital circle They all exist like thunder.

If you change to another startup company, as long as one of the investment institutions endorses the company's financing, you will be very happy and you can publicize it.

However, while the outside world was shocked at the birth of this huge financing, when the investors of Bluestar Technology were almost all Wall Street Capital, a new voice of doubt, or rhythm, suddenly appeared in the industry.

...

"Please come in."

In Luo Sheng's office, today is the second day after he returned to China. After taking a day off yesterday and reversing the jet lag, he started to work today.

The person who walked into his office was Zhang Bowen, the company's chief operating officer.

"Mr. Luo, there have been some negative company news in the news these days." Zhang Bowen said as he came in.

"Negative news?" Luo Sheng couldn't help but look up at the other party.

"Yes, many media and online public opinions are questioning whether Bluestar Technology is a domestic company or a foreign company? Why not find domestic investment institutions and so on." Zhang Bowen said.

Hearing this, Luo Sheng shook his head with a smile, sighed, and said: "This question may have to be asked by domestic VCs. In the early days of the company's business, I personally ran more than 30 institutions, almost the whole world. I ran it again, and unfortunately no one voted for me."

Speaking of Luo Sheng spreading his hands, at the beginning of the company's establishment, he actually wanted to introduce domestic venture capital, and only at that time had the opportunity, and the reason was very simple.

First, not much money will be spent in the initial stage, but the equity will not be less. In the angel round financing stage, Teng Xun spent 1 million to get 8%; second, the strength of domestic VC institutions is not very good , Unable to compete with foreign capital such as Goldman Sachs and SoftBank.

In fact, Luo Sheng still opens the door for all capital, but the problem is that there is only one Huajin Securities, or the national team. Now it is too late for domestic capital. 90% of investment institutions are no longer available. The financing is a sky-high price of hundreds of millions of dollars. How many domestic venture capitalists have such strong capital?How many capital institutions dare to invest so much money in Bluestar Technology?

In Luo Sheng's original vision, the financing process of Bluestar Technology, the initial angel round and the pre-A round, were led or co-invested by domestic capital. At this time, the valuation was relatively low.

Starting from the A round of financing, it is necessary to actively introduce external capital, mainly Wall Street capital.

First, the valuation of follow-up financing is high, and the money paid is too much. Second, there are certain requirements for venture capital itself, which requires both background and strong capital. Wall Street capital is the best choice.

Because this is also related to the company's global layout, without the introduction of Wall Street capital, the difficulty for Bluestar Technology to go to the sea can be called hell. To make things difficult.

But Luo Sheng will never abandon the global market because of difficulties. If Bluestar Technology does not introduce Wall Street capital, the global market will definitely have nothing to do with you, and will eventually only hold on to the Greater China market.

Even if the company’s income can reach 10 in the Mainland, all of it will be earned by itself; but if half of the company’s equity is sold, the global market will be obtained in return. The company’s income can reach 100, even if half of it can share 50 of it, although It gave up half of the benefits, but actually got several times the benefits, and still has absolute control over the company.

How to choose, it is possible to vote with your feet.

It is precisely because of this that the world will have such a statement as a community of interests.

Even if the company goes public in the future, the stock will not pay dividends, how much dividends will be distributed, and how to distribute them. As long as the company's control is firmly in the hands of the founder, the founder has the final say.

Apple's cash reserves once reached one or two hundred billion US dollars, but Jobs set a tone and insisted on no dividends for more than a decade, and shareholders have no temper at all.

"Don't pay too much attention to these public opinions, but keep paying attention." Luo Sheng said in a deep voice after thinking about it. So far, Bluestar Technology's total external capital has only accounted for about 29%, and 10% of it is Teng Xunchi. Shares.

Obviously, this is the behavior of some media to take the rhythm and cheat the click rate in order to blog people's attention. Luo Sheng and his team still account for nearly 70%. His personal shareholding has not been less than 51%. The media said that Bluestar Technology is a foreigner.

This external questioning did not have any impact on the company. This time it raised US$325 million and he won’t be idle when he gets the money. So much money lies in the company’s capital pool, and it’s depreciating every day. It’s effective. Use it.

...

(Is it more swollen in three chapters today? So please ask for the ticket collection or something? The big guy with the book list adds a book list~~)