The Black Card

Flash announced the A round of financing plan.

This financing was less than two months before the last round.

The previous round of flash was valued at 250 million, and the venture capital circle felt that it had already had a premium.

With a round of financing of 25 million yuan, coupled with the deposition of funds in various markets, the venture capital circle generally believes that the flash can use more than 40 million.

Now flashing and declaring that it will be financed, this means that the 40 million has already burned out.

However, compared with the 40 million burns, it is still reliable, at least perfecting a Shanghai market, opening up the two markets of Yangcheng and Baoan, and initially establishing the two markets of WuDong and Xixi.

In the early days of the flash, Shi Lei and Wei Xingyue jointly invested more than 20 million. In fact, they did a market for Didi, and the Shanghai market was just a shelf.

Therefore, the 40 million in the past two months is equivalent to doing three complete markets. Before the previous 20 million, only Didi was a market, and the efficiency of burning money was quite good.

With Shi Lei’s rhetoric, and the market performance of the four first-tier cities is not bad, so the venture capital circle is not as conservative as before, some investors began to think that the flash mode may also generate profitable space.

Moreover, investors are not fools. They are better than anyone else. Investing in this kind of thing is not to say that there is a project to go to the investment, gambling waiting for the potential stocks that have exploded. Before investing, at least be sure of its operating model, it is best to find the profit model directly, the possibility of investment will be greater.

Qixuan has undoubtedly not found a reasonable profit model, but the user data and national support it brings are also the green concept of the new concept, which is enough for investors to be excited.

Although the flash is still not optimistic about them, but through the cooperation between Flash and Qi Xuan, investors also see that the two companies have complementary roles. As long as Qi Xuan continues to develop well, it will survive several rounds. Financing, and even increasing value, are promising.

Therefore, when the flash announced the financing plan, the outside world is still quite vocal, but the venture capital circle has taken active actions.

Within these action-making investment companies, there is a tacit consensus that everyone thinks that the company that flashed should have profit margins as early as possible. If the second-tier cities react better, the C round will still be There is a possibility of operation, but the D round is not worth entering anyway.

The news of the financing spread out only 24 hours, and Wei Xingyue’s office computer already had five investment interviews.

Wei Xingyue called the five e-mail companies one by one, and asked the other party to quote directly. The two companies silently asked Wei Xingyue to quote, Wei Xingyue politely asked the other party to consider, and then hung up.

The other three companies, the highest reported a valuation of 800 million, Wei Xingyue politely refused, the other side let her think more, she told the other strong, do not consider.

Later, Yao Er also released the news that the B-round financing was to be announced to the outside world.

For a time, the phone on the desk of Yao Er became a hotline. Compared with the flash, investors are obviously more optimistic about the development of Qi Xuan, and are more willing to invest in Qi Xuan.

Yao Er’s attitude is also stronger than that of Wei Xingyue. Regardless of the distance, Yao Er is the same sentence – “Trouble to form an investment letter of intent, fax directly to our company. Sorry, there are too many calls and limited brain capacity. I really can’t remember. ”

This is also a no-brainer. Who makes Qi Xuan now a fragrant investment market. Many entrepreneurs must take a business plan to run a family, and ask the grandmother not to get an investment, but Qi Xuan is Jiang Taigong sitting on the Diaoyutai , the phone does not want to pick up, just look at the written investment letter of intent.

To put it bluntly, this is what Qi Xuan is waiting for, waiting for the capital market to give a higher valuation.

Even so, the investment letter of intent was still sent to Kaixuan, and Yao Er called Shi Qiang to let him hand over his work as soon as possible and return to WuDong Qixuan headquarters.

Shi Lei had already reached a consensus with Shi Qiang. Shi Qiang originally thought that the layout of the other two cities in the Pearl River Delta would be more perfect. I didn’t expect Yao Er to call him back after starting the B round of financing.

Because Shi Lei had greeted him in advance, Shi Qiang also consciously handed over the power to four people during this time, and each of them was responsible for a city.

Now receiving a call from Yao Er, Shi Qiang immediately summoned four people to a meeting, indicating who can sit in his position and see the performance of the next four people. At the same time warn them, if you want to go up, just do your own market, don’t try to make the market for others. Once it is found that someone has harmed the company’s interests, it is not a problem that cannot be lifted.

The four people looked at each other and Shi Qiang completely handed over the work in his hands in two days. Shi Lei has already returned to Baoan at this moment, naturally taking over the position of Shi Qiang, but he also expressed his attitude with the four people. It is only temporarily responsible for coordinating the work of the four of them, and will not hold this position too much.

Shi Qiang returned to WuDong.

Yao Er handed over the selected investment letter of intent to Shi Qiang. Shi Qiang understands that this is Ya Er and shows him the current capital market chase for Qi Xuan. He is also showing him the current valuation. Range.

Although Shi Lei promised that the right to vote in the B round could give Shi Qiang, but Shi Qiang could keep up with the situation of Qi Xuan, it could not be said that the outside world valued 2 billion yuan, while Shi Qiang only gave one billion. Valuation, which also let Shi Qiang lead the vote?

Moreover, Yao Er found that even he imagined Kaixuan’s valuation a bit low, because in the more than ten investment letters of intent, the lowest valuation also reached 1.8 billion soft sister coins, and the highest valuation One, even gave Kaixuan a valuation of 400 million US dollars.

400 million US dollars, according to the current exchange rate of 6.7 percent of the soft sister currency, it has been the valuation of up to 2.7 billion soft sister coins.

Shi Qiang took these investment letters of intent and went back to discuss it with his family.

With a valuation of more than 2 billion, it takes more than 200 million yuan to get all the shares of the B round of 10 points. Although Shi Qiang has money at home, he can’t take it out casually. More than 200 million in cash.

Moreover, Shijia is not likely to eat meat and drink a drop of soup. The capital market is so enthusiastic, Shi Qiang must also take into account the ideas of other companies.

The key point is that Qi Xuan will never accept the conditions for payment of financing in installments. If you want to invest, you must inject all the money into it.

The final result of the discussion was to make a valuation of 2.6 billion soft sister coins for Qi Xuan. Shi Qiang’s family led the investment, accounting for 5%, and the remaining 5 percent of the shares were the strongest. The three companies with the highest quotations are allocated.

Three days later, after the release of the financing news, but the first step to win the B round of financing.

The valuation of Qixuan reached 2.6 billion, and the current round of financing reached 260 million. Together with the companies in the A round of investment, all of them expressed their intention to increase their holdings. In the B round of financing, Qi Xuan actually received as much funds. Nearly 290 million.

The company that failed to get the investment in Qi Xuan B round did not know if it was stimulated, and half of it turned to flash.

This allowed Wei Xingyue to finalize the Flash A round of financing to reach 130 million, which means that the flash was valued at 1.3 billion.