Reborn multinational giant

This October, the work of Fang Zhe and all the employees of Huizhong was not easy. Since Fang Zhe announced at the press conference at the end of last month that Huizhong has fully entered the country, all departments of Huizhong have begun to operate under high load. Entering China, the intensive preparations for the domestic launch are filled with every working day.

Even so, Fang Zhe, who controls the overall situation, still had to fly to Hong Kong on the night of October 16th!

Fang Zhe went to Hong Kong this time to meet someone and do something. The person he wants to meet is Liang Botao, a well-known investment banker in Hong Kong, and what he wants to do is exactly In order to get shares of JD from the investment bank he and his representative behind!

In January of this year, JD.com completed the B round of financing. Investors included Capital Today, which had invested in JD.com during the A round, Xiongniu Capital, and Fang Zhe’s Liang Botao and the investment bank behind him.

At that time, Huizhong had only been established for three months, and its core business was in a period of rapid development, and there was no spare money to invest in others. Therefore, Fang Zhe could only regret to miss investing in JD at that time.

Now, in order to support Huizhong’s payment service, Alipay, Fang Zhe has to deploy these e-commerce companies with massive online payment scenarios, Taobao, the leader of the e-commerce industry, Fang Zhe doesn’t need to think about it unless Mr. Ma’s brain is broken. Only then will Fang Zhe be allowed to invest in their Taobao to run on their own Alipay.

Therefore, Fang Zhe’s goal can only be placed on the future second JD.com, as well as the numerous vertical e-commerce companies or O2O companies that have just started or have not been established, including the honey buds founded by his sister-in-law, and Chen Ou, who has not yet returned to China. Founded by Jumei Youpin, Fanke, Mogujie, Are you hungry, Meituan and so on.

Well, thinking of this, Fang Zhe also feels that there are black lines on his head. Dad Ma raised Alipay by relying on Taobao alone. Pity Fang Zhe, as a rebirth, has to take out the mosquito no matter how small it is, it’s the thrift of meat. Spirit, win the alliance with a group of younger brothers to raise the future will inevitably compete with Alipay.

Therefore, it is very important to get the shares of JD.com as soon as possible. It is very important for the other party to deploy the payment business. Unfortunately, just like the last time I missed investing in YY, if it weren’t for Lei’s identity as an angel investor to increase the shareholder of YY as a lobbyist, just now YY, which has received financing, cannot be anxious to use Huizhong’s money to sell its shares. Similarly, although the global economy is still sluggish, Jingdong, which only invested 21 million US dollars at the beginning of the year, is not in a hurry to raise funds again.

Fang Zhe remembers that JD’s C round of financing in the previous life was already in April of 11 years. At that time, JD.com had already bitten a significant market share in the e-commerce industry and gained a firm foothold, revealing a pair of stable after Taobao. Take the posture of the second child in the e-commerce industry.

Coupled with the recovery of the global capital market, there is another Amazon, which is very similar to JD.com, as a reference. JD.com's C round of financing was as high as 1.5 billion US dollars. At that time, its valuation was nearly 5 billion US dollars.

In 2014, JD.com was listed on the Nasdaq in the United States at a valuation of 30 billion U.S. dollars. Although there is still a big gap between the e-commerce giant Alibaba, which was valued at more than 200 billion U.S. dollars at the time of listing, it also It is indeed the domestic e-commerce giant second only to Ali.

Fang Zhe naturally can't wait until 11 years to spend more money to join in the fun of investing in JD. At this time, JD.com's monthly turnover has just exceeded 500 million, which is not as much as Huizhong's monthly revenue, let alone net gross profit. Regarding profit, the previous JD.com made losses for more than a decade. It was not until 16 years that it made hundreds of millions of yuan from playing digital games. Compared with Huizhong, Huizhong has thrown him hundreds of blocks away.

Therefore, in the current capital market, JD’s valuation is not high, only about 100 to 200 million U.S. dollars. Whether in terms of capital or investment timing, it is the best time for Huizhong to invest in JD.com!

Jingdong is not short of money, so it can only make a fuss from its shareholders, capital chasing profit, just like Fang Zhe bought YY’s shares at a premium from those small shareholders of YY last time, as long as the money is appropriate, even Jingdong sells Fang Zhe, and he is willing to guarantee that Mr. Liu is not allowed.

However, Fang Zhe would naturally not be foolish enough to be taken advantage of. It is enough to get the shares and let me lay out the payment business. Do you still want me to buy you so that you can bear tens of billions of losses every year for you in the future?Want to be beautiful!

Fang Zhe and Huizhong chose Liang Botao and the investment bank behind him.

Liang Botao is more than 50 years old this year, older than Fang Zhe’s father, Fang Jinsong. Although he is not well-known in the mainland, he is very famous in the Hong Kong investment circle, especially in 2006 when he used to acquire PCCW, under the name of Superman Li, was the company that first invested in Tencent and later sold 20% of Tencent's shares to MIH in South Africa. Although the acquisition was not successful in the end, it also made him famous.

Before, Fang Zhe had sent people to contact several shareholders of JD.com. Among them, Liang Botao showed that everything was negotiable.

This is not beyond Fang Zhe’s expectation. Compared with today’s capital, Sequoia Capital, overseas international capital, will basically wait until the company’s EF round or go public before choosing to withdraw. Many Hong Kong investment funds in the mainland have more conservative investment methods. As long as the price is right, you can withdraw early and not late.

After all, the higher the risk, the lower the number of players. Just like the previous investment in Tencent, PCCW under the name of Superman, who withdrew after a short time, made several times the profit after changing hands. And this is also the mainland like bat. One of the reasons why such Internet companies have many foreign shareholders and few Hong Kong shareholders.

At 22:02 on the 16th, Fang Zhe and several directors of the Huizhong Investment Department accompanied the plane landing at Hong Kong International Airport.

This is Fang Zhe’s first visit to Hong Kong. Before, the people from Huizhong Investment Department and Liang Botao had already had preliminary contacts and discussions, and the other party had agreed to double the price of 20 million U.S. dollars before the transfer. 9% of Jingdong shares.

According to their investment valuation in January, JD’s valuation is 150 million U.S. dollars. Now in the past half a year, their doubled price is reasonable. However, Liang Botao has one condition, that is, hope. If you can meet Fang Zhe, the big boss behind Huizhong, as long as Fang Zhe meets them, the deal will be concluded!

Fang Zhe casually pondered the other party’s conditions and guessed what the other party meant. To say which Internet company in mainland China is the hottest now, it is not JD.com or even bat, but Huizhong, a start-up company that was only a year old.

In particular, Huizhong’s overseas achievements have sharpened a bunch of venture capital institutions from Hong Kong to the world. They want to invest in Huizhong or have something to do with Huizhong. Liang Botao and his back are in front of him. This is clearly the case for investment banks in China.

Fang Zhe rejected Liang Botao's idea of ​​going to visit him in person. Instead, he went to Hong Kong to meet Liang Botao himself, which was enough for him.

Another reason why Fang Zhe came to Hong Kong in person is that Fang Zhe has never been to Hong Kong. He just took this opportunity to come to Hong Kong for a stroll. At the same time, he took this opportunity to get in touch with the investment circle in Hong Kong. Maybe it will be needed anytime. they.