Wuliang Advertiser

It was half an hour before Zhang Jianjian sent Daluo back to the Beijing Hotel and then came back to pick up Wu Liang.

Wu Liang and Tian Tongyuan also started finishing work during this time period. A dozen football treasures participated in the welcome ceremony, each of which was 5,000, and Zhou Yushun was responsible for distributing them. Xu Zheng couldn't get so many people in a while, Zhou Yushun. After inquiring about the situation, I will do everything, "Isn't it just a dozen girls? What is missing here is that there is no shortage of people!"

In addition, the team of cameramen 10,000 each will be distributed by Ning Hao. Of course, they will have to make the subsequent commercials. Wu Liang has already explained this to Ning Hao. The five-second advertisement is edited with the ad slogan "No voice. Comfortable, come to a golden mulberry", live together.

Basically, half of the cash in the box was removed, and there will be another million after the advertisement is finished.

Wu Liang did not follow a formal business contract. It was an verbal agreement. On the one hand, the purpose is to avoid risks. In addition, the money can be put into a private account, which makes it more comfortable to spend. Anyway, Jiang Peizhen can easily give 300,000 meters. After redeeming it, he must be embarrassed by such a small amount of cash.

There was also Tian Tongyuan who worked hard in it. Wu Liang didn't want him to work in vain, so he smiled and handed the box to him, "You still need to take care of it, here you are!"

Excluding part of the expenditure just now, plus the share of Ning Hao and Zhou Yushun, there are still at least 500,000 in the box, and Tian Tongyuan's complexion suddenly became bad, "Master, are you hitting me in the face?"

Wu Liang's eyes widened, "What? Too little?"

Tian Tongyuan took the box with a bitter face. The game of splitting fruit ends here. Wu Liang and Jiang Peizhen agreed to watch the commercial in her room the next afternoon. The crowd dispersed. Tian Tongyuan smiled and told Wu Liang, "Li Yanhong I made two phone calls over there!"

Wu Liang looked at his watch and nodded with a smile, "Don't let Lao Li wait in a hurry!"

When he arrived at Li Yanhong's office, Li Yanhong explained today's goal straightforwardly, "I wonder if Dong Wu knows Qianbaidu's Niu Ka plan?"

Wu Liang was stunned for a moment, and nodded bluntly, "I haven't heard of it! I'd like to ask Li Dong to introduce it specifically!"

Li Yanhong is also not hypocritical. "When Qianbaidu was founded, I divided the shares into three parts: one was held by the founders, one was held by venture investors, and the other was stock options held by employees. After the turmoil, most of the venture investors' holdings went into the hands of Liangzheng Fund."

Wu Liang understood that when Thousand Baidu had no money, it sold advertising spaces. Last year, it was illegal. After the fund-raising incident was stabbed out, 7,800 of the 8,000 Thousand Baidu members chose to give up. One of them, the old man similar to Erqi, had their advertising space in the hands of Liangzheng Fund. For this reason, Wu Liang did not hesitate to spend more than 100 million to arrange for personnel to purchase downstairs in Qianbaidu, alleviating Li Yanhong. The run on the turmoil can be regarded as a favor to Li Yanhong.

After that, Liangzheng Fund paid a year's worth of advertising space, with the purpose of supporting it until the day when Qianbaidu went public.

Wu Liang operated like this, and Li Yanhong finally decided to let Wu Liang cash out his equity as a venture investor.

However, the condition put forward at that time was to ask Wu Liang to give up voting rights. Wu Liang agreed-there is no way if he disagrees. The purpose of setting up equity in this way was to let the management of the company be in his hands. He can use this. Obstacles are the most cost-effective.

Right now, when Li Yanhong mentioned the equity issue, Wu Liang was noncommittal, "I understand this!"

Li Yanhong said sternly, "Thanks to Wu Dong for his understanding, it is really difficult to get started in this industry! Many promising technology companies are controlled by foreign investors, and the people of Tianchao have worked hard for half their lives and finally got cheap nuts!"

Speaking of this, Wu Liangxinkan went inside, just like he had sent Nanfei Telecom and Sun Zhengyi away, and the purpose was the same. He smiled, "Otherwise I wouldn't give up voting rights so easily!"

Li Yanhong once again thanked Wu Liang for his support to Qianbaidu and started to get to the point, "The listing of Qianbaidu has been put on the agenda, and the last round of financing will definitely be conducted before listing. In order to prevent the company from being controlled by foreign capital, we have set up a bull card plan!"

Xu Yong, who was sitting next to Li Yanhong, explained to Wu Liang that this person is also one of the founders, and his shares are second only to Li Yanhong. It is also considered the past to be explained by him. Of course, it is more that he is also showing his posture. He is a staunch supporter of the Niu Card Project.

"This is specifically the case. After the listing, Qianbaidu shares are divided into two types: A and B. Newly issued shares on the U.S. stock market are called A shares. In the voting rights, each share is 1 vote, while the founder shares are B For stocks, the voting power is 10 votes per share. The voting power of Class B is 10 times that of Class A, and once Class B stocks are listed for trading, they will automatically be converted to Class A."

In fact, Wu Liang is not unfamiliar with the Niuka plan. After thinking about it for a moment, he began to ask questions, "That means that as long as the founder has 11% of the Class B stocks, the company is still in charge of Li Dong!"

Li Yanhong answered, "That's right! Another aspect of the Niuka plan is that even if the founder team transfers the equity in their hands, this part of the equity will automatically change from Type B to Type A!"

Wu Liang thought that Li Yanhong really racked his brains in order to control the company. However, at this point, he was supportive. In order to express his surprise, Wu Liang whistled and exclaimed, "Wow, Li Dong This idea is really inexhaustible. I think if Ma Xiaoju had set this up earlier, I'm afraid Fujisun would have nothing to do with me!"

Li Yanhong smiled and complimented, "Everyone knows that you don't have to worry about the company's change of ownership when working with Consultant Wu, you don't care about voting rights at all!"

Wu Liang could only agree with the answer, "I just want to be a major shareholder with peace of mind!"

Everyone laughed.

Xu Yong continued to explain that he was a complete explanation of Wu Liang for Qianbaidu's equity.

Last time Hao123 was priced at 100 million and Qianbaidu was valued at 900 million. Wu Liang took 12% of Qianbaidu’s shares. At this time, Qianbaidu’s shareholding structure was 45% for the founder team, 36% for venture capital, and the rest. 7% for individual shareholders.

Wu Liang asked Zhou Hongwei to acquire the advertising space in the hands of 7,800 members in the name of Qihu 360, and the contract was renewed for one year at a cost of 100 million yuan. Li Yanhong eventually converted this part into equity in advance.

It needs to be explained that Li Yanhong and Wu Liang have cooperated with regard to this part of the equity. The purpose is to further dilute the shares of venture capitalists. And Li Yanhong is also very clear about foreign capital, "As the founder team, 4% The 15 shares cannot be lowered anymore!"

For venture capitalists, forty percent of the shares acquired at a cost of 12 million yuan, with Wu Liang's follow-up capital of 100 million yuan, it is considered to have paid back the cost, and it is all net profit after the listing.

The two parties cooperated to dilute half of the 36% of the venture capital's shares. Among them, because the members converted shares in advance, the normal proportion should be diluted. In the end, they simply took back 18% of the shares in advance through the founder's repurchase model.

As a result, the current shareholding structure is that 45% of Li Yanhong’s team remains unchanged. Liangzheng Fund represented by Wu Liang makes good use of the 123 website, 780 member contracts plus 100 million in cash to obtain 30% of the equity, and the rest is venture capital 18 %, less than 7% are held by individuals.

The changes in the shareholding structure have also led Li Yanhong to introduce the Bull Card plan ahead of time in order to further control the company. This plan needs Wu Liang's support. Otherwise, venture capital investment may decide what will happen.

As Wu Liang’s unintentional voting rights were once again clarified, Li Yanhong handed Wu Liang a contract, which was impressively the Niu Card plan. Wu Liang looked through it and it was basically what Li Yanhong just said. However, Xia Qianjun was not at the scene. Regarding the contract Wu Liang did not carefully consider the rest of the terms of the contract. He put the contract away and apologized to Li Yanhong, "I will ask the legal counsel to review this contract in detail. In addition, regarding the Niu Card plan, I fully support Li Dong. Please rest assured Li Dong, I will participate when the board of directors is held!"

Li Yanhong's expression was a bit dazzling, and continued to explain, "Qianbaidu implements a five-person board structure. This time looking for Wu Dong means that the board of directors will increase candidates. We invite Wu Dong to join the board of directors. At the same time, my team will add another director. !"

Wu Liang thought about it carefully, God operated, and nodded in agreement, "Okay, just do what Li Dong said!"

Through the expansion of the board of directors, there are four people on Qianbaidu's side, only two venture capitalists, and Wu Liang, a soy sauce director, and Li Yanhong, which is loud enough.

Li Yanhong signaled that Xu Yong took out another shareholder agreement and handed it to Wu Liang, "The main content of the change is what I just said. The Qianbaidu board of directors consists of seven directors. I serve as the chairman of the board of directors. In addition, the first three rounds of investors dispatched three. Directors, the above-mentioned preferred shareholders have the priority to choose the securities issued by the company. The board of directors and preferred shareholders have the right to first veto any equity transaction between non-transferors. Without the written consent of the majority shareholders of each round of preferred shares, the founder of the company No transfer of shares held."

After thinking about it, Wu Liang understood that he could be regarded as the third round of financing this time, but his financing was almost an obvious grab. He tentatively asked, "In other words, forget it. It feels like it's not easy for you!"

In fact, Wu Liang understands it. Only through personal experience did Wu Liang understand that the Niu Ka plan of Thousand Baidus has been circulated. He cooperated with Wu Liang twice to turn bad things into good things. On the one hand, he diluted it with a dilution plan. The shareholding ratio of venture capital is even more constrained by the shareholder agreement, and does not recognize any form of equity transfer agreement without the approval of the board of directors. This also eliminates the possibility of cooperation between Wu Liang and venture capital to kick Li Yanhong out.

Li Yanhong smiled bitterly, "After working for the past few years, I finally understand. Don't give the initiative to investors easily. No one will be good at business in the process of starting a business!"

Wu Liang rubbed his nose, and said in his heart, "Are you a lesson I learned from the misfortune?"