In a high-end Chinese restaurant, several people from Tianfeng Capital are waiting for Yi Yang.

The person in charge of civil and military technology projects at Tianfeng Capital is named Hao Ren. He smiled: "Although he is very young, based on the several impressions I have had with him, he is a very smart and steady person, and he has a prestigious school background." He is probably very arrogant because of his background. Don’t treat him as a stupid young man who doesn’t understand anything. You can receive him as you want, do you understand?”

The rest of the people nodded in agreement, but felt a little unconcerned in their hearts.

Who can enter a PE company without a high degree of education? The people here all have a master's degree or above. Although the undergraduate degree may not be better than that of Tunghai University, when introducing yourself, you can say that you have a graduate degree.

Undergraduate students at Tunghai University are still a little too young.

Ten minutes later, Yi Yang arrived.

Yi Yang's eyes flickered when he saw the people in the private room. Hao Ren stepped forward to help him pull out his chair and said with a smile: "Heroes come from young, let me introduce to you, this is the other major shareholder of our Wenwu Technology. Yi Yang!"

Then a white-skinned female white-collar worker came forward to shake hands: "I'm glad to meet you. I often hear our manager Hao talk about Mr. Yi. I didn't expect him to be so handsome!"

"Yes, what a talented person!"

"Ha ha……"

Yi Yang smiled casually and sat down amidst the echoes.

Tianfeng Capital specially organized this dinner to invite him over this time. Of course, it was not to make friends, and Yi Yang could probably guess their purpose, but at this time, he was not in a hurry. If the other party didn't speak, he wouldn't. Ask proactively.

Because Yi Yang didn't drink, it was difficult to get into the mood for this dinner. Several people took turns to persuade him, but Yi Yang politely refused, so everyone stopped forcing them and chatted here and there. Hao Ren finally Come to the point.

"Brother Yi Yang... you probably know that I invited you here today because I want to discuss something important with you. You are a straightforward person, so I won't beat around the bush..."

Yi Yang secretly laughed, saying that he didn't beat around the bush, he had been beating around the bush since he entered the door.

Yi Yang nodded: "Please tell me."

"Then let me tell you straight, I hope you will join us in selling your equity to Cicada Technology."

After saying this, Hao Ren looked at Yi Yang calmly.

Yi Yang did not show the surprised look they imagined.

During this time, he heard some news...

After lowering his head and thinking carefully, Yi Yang said calmly: "The combined equity of our two parties has exceeded 55%. If Cicada Technology owns so much equity, it is equivalent to controlling the universal curriculum..."

Then Yi Yang raised his head and said, "It seems that they are indeed planning to go public?"

As soon as these words came out, a look of surprise flashed in the eyes of several people at Tianfeng Capital. They did not expect that Yi Yang could infer that Cicada Technology wanted to go public just from this news.

Then Yi Yang said to himself: "The reason is very simple. They are preparing to go public in the United States, but they encountered resistance from the group of smart Jewish capitalists, and the source of this resistance is the universal curriculum."

Hao Ren and the others looked at each other, and a smile appeared on Hao Ren's face. The young man in front of him was indeed a very smart person, and it would be easy to deal with smart people.

Hao Ren stopped being pretentious and nodded: "As a top student in the finance department, you should know that for an investor, the key is not to enter, but to exit."

"Buying equity at a low price when the company is weak, waiting for it to gradually grow, and selling it when it reaches a certain level is actually very similar to securities trading, except that with equity investment, the profit is greater, but the risk is also greater."

"The vast majority of investors will consider listing a company as the best way to exit, but I think now is the best time to exit."

"Ma Wenwu is very capable, especially technical, but he is not good at management. At the same time, he cares about power. There were problems with the previous equity design, so financing encountered great resistance. We have studied it and there is no further solution. Capital injection can either start cashing out in advance or go with the flow, but there is no doubt that either option will make this company fail in the competition with Cicada Technology.”

Yi Yang nodded, it was indeed true.

At this stage, the competition between the two parties has reached the stage of burning money for marketing. However, despite the millions of capital from Tianfeng Capital, neither party has been able to monetize the traffic. At this time, whoever starts to monetize the traffic will be sacrificing the user experience. Whoever is giving up is tantamount to admitting defeat, so they are all in a state of only getting out but not getting in. The competition is about who can last longer.

A few million seems like a lot. Excluding the company's normal operating costs, Universal Course is actually always at a disadvantage in terms of marketing. Although it can be saved, according to this way of spending money, Universal Course can only operate for a few more years at most. months.

The two curriculums are applied to users' choices. After so many versions of iterations, apart from the technical advantages of the universal curriculum, there are not many obvious differences in user experience.

Previously, Cicada Curriculum conducted another round of financing, with abundant funds and already has a huge advantage.

Fortunately, the Cicada curriculum lags behind the Universal curriculum in terms of technology. In comparison, the Universal curriculum is more stable, so it has a group of die-hard users. Although it is weaker than the other party in terms of marketing, it can still barely hold on.

"Now is a good opportunity. Cicada Technology is about to go public. They have the funds, the determination, and the demand! Their purpose is very clear, which is to control Wenwu Technology, so that investors in the United States can willingly Given money, in order to achieve this goal, they are willing to pay a premium much higher than the market price to acquire our equity.”

"As long as they acquire the equity of both of us, they can achieve control! The other party has already talked to us, but just one of us is not enough. After all, if they can only acquire the equity of one of us, it will not make any sense to them. Together with you, we can negotiate with them.”

After a pause, Hao Ren continued: "Brother Yiyang, since you are also an investor, you should understand that this is the best time to exit. There will be no store like this after passing this village. Today, I represent Tian Peak Capital, I sincerely ask you to think about it carefully."

Yi Yang was silent for a long time, then sighed slightly and said: "From the perspective of capital games, what Manager Hao said is very reasonable, but..."

"but?"

Yi Yang's smile was a little complicated: "This is really a huge blow to Ma Wenwu. I guess you haven't told him about this yet, right?"

Hao Ren hesitated for a moment, then nodded: "Yes, telling him this is the worst plan under the condition that both you and the other two shareholders refuse."

The capital game is really cold and ruthless. Yi Yang sighed slightly in his heart, and then said seriously: "I can't give you an answer to this matter right away. I want to talk to Ma Wenwu for a while."

Hao Ren nodded: "We understand this, but the time should not be too long, and..." He paused and said, "Actually, his other two brothers are willing to sell."

"Agreed?" Yi Yang couldn't help but be stunned.

Hao Ren nodded: "So, even if you and Ma Wenwu are not willing to sell the equity, Cicada Technology can still control 50% of the equity and completely disrupt the Yellow Universal Course Schedule. However, they have not achieved their goals in this way, so they give us a premium It will also be a little lower, so we still hope you can be on our side.”

Yi Yang said nothing, his eyes flickered for a while, and he nodded: "I understand."

Before Yi Yang went to find Ma Wenwu, he received a call from Ma Wenwu that afternoon.

office.

Ma Wenwu slowly put the cup down and tapped his temple with some pain.

He suddenly realized that his career had developed to such an extent that no one could be trusted.

Of course, more of the reasons why the situation has developed like this are from ourselves. From the initial equity design, the management in the middle and late stages, to the first financing, at a glance, it is all problems, all wrong.

It is my first time to start a business, after all, I have no experience.

He finally understood why those business bosses often gave people a feeling of being cold and ruthless. When it came to doing business, being emotional often resulted in poor business and poor emotional management.

Ah……

It is a pity that what others say is only heard as a story. Only when you experience it yourself can it become experience.

In other words, it’s a lesson!

While he was lost in thought, Yi Yang arrived.

This is the first time Yi Yang has visited Ma Wenwu's office.

Now, with the help of Tianfeng Capital, Wenwu Technology is like a real science and technology innovation company. Outside is a public office area for employees, and ordinary employees have a large office area. Middle managers have separate office areas with partitions, and only Ma Wenwu has an independent office area. 's office.

"Mr. Ma, what are your orders?" Yi Yang joked and closed the door.

Seeing Yi Yang, Ma Wenwu smiled bitterly, "Stop making fun of me."

Yi Yang smiled and sat down opposite Ma Wenwu.

"Tell me, what's wrong?"

Ma Wenwu was silent for a moment, then stood up and poured a glass of water for Yi Yang. He sat down, pushed up his glasses, his expression became serious, and he lowered his voice and said, "The person from Cicada's Curriculum...has come into contact with you, right? "

Yi Yang's eyes moved slightly, he slowly picked up the cup and took a sip without answering.

Seeing this, Ma Wenwu had some misunderstandings, sighed, and said softly: "As expected...you, what do you think?"

Yi Yang shook his head and asked, "What do you think?"

Ma Wenwu snorted coldly: "Jinsha and the others betrayed me!"

Yi Yang was slightly startled. He didn't expect that this matter had already reached Ma Wenwu.

Suddenly, he realized that this was probably Tianfeng Capital's strategy, and he deliberately revealed it to let the three of Ma Wen and the others break up completely. In this way, if he chose to side with Ma Wenwu, they would have a guaranteed plan B. .

"To be honest, I shouldn't have brought the two of them to this project in the first place!"

Yi Yang remained silent.

"You also know that since the birth of this company, they have not contributed much. Why was I willing to give them 10% of the equity in the beginning? That is because I value brotherhood! They did not contribute any money, and the core technology is also mine. They are doing what they are doing, and any person they hire can do it better! Huh, I didn’t expect that at this time, they would stab me in the back!"

Yi Yang sighed. In fact, such an ending had already appeared, but it was a pity that only Ma Wenwu could not see it.

"Well...after the last equity dilution, the two of them each held 7.5% of the equity."

"That is to say, Tianfeng Capital and the two of them now have a combined equity share of 50%!"

"But, as long as you stand by my side..." Ma Wenwu looked at Yi Yang pleadingly.

This company was like his child. He had spent many nights and nights of hard work to nurture it into what it was like, but he was really unwilling to give it away like this.

Yi Yang didn't speak, but picked up the cup and took another sip.

Ma Wenwu stared at Yi Yang seriously.

Suddenly, Yi Yang smiled and asked: "Well... Senior Ma, I want to ask you a question. What was your original intention in founding this company?"

Hearing these words, Ma Wenwu was stunned.

"Original intention?"

Ma Wenwu was silent for a moment.

Indeed, when he first heard this question, he felt at a loss.

In fact, this question is not difficult to answer. The original intention of most college students to start a business is nothing more than... to create a career of their own. And the essence of this matter, no matter how you try to beautify it, can't be separated from it in one word... money.

Naturally, there are some people with high moral standards who originally wanted to change the world, but Ma Wenwu was not embarrassed to say this. You must know that the original ideas of this company came from Yi Yang.

But he quickly came to his senses and said: "I didn't think too much at first, I just wanted to give it a try, but now that the company has developed to this stage... I'm not willing to surrender like this! "

Yi Yang nodded: "Yeah... I understand."

"Then let me share my opinion." Yi Yang put down the cup.

Ma Wenwu already had a bad feeling in his heart, but he still nodded.

"Let me talk about my original intention first."

"Like you, I just wanted to give it a try at the beginning. What should I try? It must be a little different from the seniors. What the seniors are trying to do is to build a business, while I am trying to be an investor."

Hearing what Yi Yang said, Ma Wenwu's heart had already gone cold. He slowly took off his eyes and rubbed his temples. Because he wore glasses all the time, his eyes looked very small, and his whole person seemed to have changed. The white marks from the ears to the eyes are particularly conspicuous.

"I... understand, and I understand you too. After all, you have to look at the problem from an investment perspective... Haha, actually I probably know this is the ending, but I still can't reconcile myself to it, so I want to talk to you... I certainly don’t blame you, our roles are inherently different.”

"Okay, now let me analyze it from the perspective of a senior. I think you should decisively sell your shares."

"Ha..." Ma Wenwu put on his glasses again and smiled with a complicated expression, "Since you are also on their side, what do I have to say, and what is the meaning of my opinion?"

"No, of course it makes sense."

Yi Yang said seriously: "As the senior said, if I also sell my equity to Cicada Technology, then Cicada Technology, which owns nearly 70% of the shares, will control this company, right?"

Ma Wenwu remained silent.

"This is an established situation. If it cannot be changed, then you might as well think about the problem from another angle."

"Think about what you can gain."

Yi Yang stretched out a finger: "First, it is a sum of money! A huge sum of money! The negotiation can be left to the people of Tianfeng Capital. We have the same interests, and professional matters are left to professionals. If you can acquire Wenwu Technology in full, Tianfeng Capital can use it as a bigger bargaining chip, and the equity in your hand is conservatively estimated to be worth tens of millions!"

Ma Wenwu was stunned.

"And the capital is not the more important gain. You also gain experience! You gain a resume! If you were asked to start another company, how should the equity be designed? How should the financing be done? It's like playing an online game, and the big one is useless. Once you practice the trumpet again, you will naturally become familiar with it, right?"

Yi Yang sighed: "I know that just like treating my first girlfriend, the first company I founded must have an unusual meaning. However, putting aside these emotional filters, it is really hard to admit defeat. Is it something difficult to accept?”

And, did he really lose?

It depends on how you understand it!

Ma Wenwu's eyes flickered for a while, and he was speechless for a long time. He raised his head: "I understand, thank you Yi Yang!" His eyes were full of brilliance again, "You are right. With this experience, I will be able to start a business next time." , these problems will never happen again!”

He finally smiled, looking a little relieved, shook his head, and picked up the cup. The muscles in his hands relaxed a lot this time. "It's just that such a good project...it's hard to find it."

Yi Yang also smiled, "It's hard to find a project? How could it be... There is a ready-made project right now."

Ma Wenwu was slightly startled, "A ready-made project?"

"Isn't there a function on the Universal Curriculum that is a campus takeaway function? After doing it for so long, do you think it has more market potential than the Universal Curriculum? Hmm... When talking about acquisitions, put forward a condition, Disassemble the campus takeout module..."

Hearing Yi Yang's words, Ma Wenwu's eyes gradually brightened.

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