Chapter 138 (2/2)
Returning to the negotiation table, Tan Yaocheng lost his previous sense of superiority, and Li Mu's attitude became a little cold. After returning, he ignored Tan Yaocheng's politeness to ease the atmosphere and directly stated his follow-up conditions.
First, there is no room for discussion on the valuation of 50 million yuan. 5% of song Liang's personal investment shares the same valuation treatment as Baidu;
Second, baidu must provide sufficient traffic promotion support for easy to hear networks and post bars. There is no specific number, only operational requirements: search all keywords related to post bars in Baidu, and the related post bars must rank in the top three of the search results.Thirdly, baidu should not interfere with its own operation;
fourthly, Li Mu should cash out 20% of the financing amount personally, that is to say, 50 million yuan should be financed, and Baidu should invest 5 million yuan, accounting for 10% of the shares. These 5 million yuan are not all the operating funds of the company, 4 million of which go into the company's account, 1 million belong to Li Mu, and the same goes for song Liang's 5%, 2.5 million Li, 2 million yuan Company account, 500000 into personal account.
Tan yaochengqi shivers. Looking at Internet companies all over the world, few entrepreneurs dare to think about cash out in the first round of financing. Moreover, even if the founders have this requirement, the investors will not hesitate to refuse. This feeling is like that the investors are ready to fund a student to go to university, but the students take it for granted that I need to It's just as outrageous and ridiculous to cash out 20% of your tuition.
Li Mu also knows that his demand is a little too much, but he also has his own justification: I am short of money.
There are two or three hundred thousand private houses in total. Usually, we have to raise a bunch of water army on Douban. We can't afford to invest in other projects. 3321 has almost been developed. At that time, we will have to spend money on all kinds of landing promotion activities, advertising light boxes in buildings, campus, bus stations and subway stations near the community?
Yanjing is so big, there are so many high schools, university campuses, and so many residential areas. It's really necessary to make a big fuss. How much money is enough for you? Even if you save money, play word-of-mouth and vertical promotion, you have to spend money, right?
At present, Li Mu has no way to make fast money. The legendary overlord wants to make money, at least after the legendary starts charging and becoming popular, there are several months left in the middle. The only chance he can make money in this period is the financing of the a round of the easy to listen net and the post bar.
For example, he said that 5% of individuals can't provide traffic support like Baidu, so if he wants to do so, he should pay 80 million yuan at a valuation.
Li Mu doesn't have a bird. He just said, ”anyway, he enjoys the same valuation as you do. If you want to give an 80 million valuation, I will let him pay an 80 million valuation.”
Tan Yaocheng has a chest tightness.
Later, Tan Yaocheng added: ”Baidu can not interfere with your operation, but Baidu needs him to provide the planning and specific implementation plan for the next quarter before the start of each quarter. If Baidu has any objection, Baidu has the right to withdraw and liquidate.”
Li Mu flatly refused: ”there is no possibility. There is no plan and plan, no right to withdraw shares and clear up. There is only one service tenet of my train: no refund.”
If this kind of condition is agreed, it is simply to put a collar on yourself. After the money comes in, it will gradually put into operation. The less it costs, the less. If Baidu suddenly says that it has objections and demands to withdraw shares for liquidation, isn't it going to be killed by him? To say the least, even if you don't give this right, Li Mu won't give him any plans or plans. They're all trade secrets. You, a soy sauce party with 10% shares, really regard yourself as the boss?
Tan Yaocheng felt it was necessary to have a coronary angiography. He was afraid that he would have myocardial infarction at any time if he continued to talk with Li Mu.
In the last retort, Tan Yaocheng said: ”it's impossible to cash out in round a, and it's even more impossible to cash out in such a high proportion of 20%. The most important thing is that you don't cash out 3% of the shares alone, but cash out in 15% of the financing amount, which is even more impossible. If you really want to cash out, you can give 13% of the shares alone to Baidu, and I allow you to take 3% of them Cash out, so you get 1.5 million before tax. ”
”No way.” Li Mu waved his hand: ”if this condition is agreed, sign the contract immediately. If it is not agreed, it will be considered that everyone knows each other today. There is no emotion in the business.”
Tan Yaocheng is going crazy. Why are you always asking for conditions? As the big man who pays for investment, we haven't said anything about our conditions!
However, Tan Yaocheng saw Li Mu's routine today. His routine is simple, direct and rough. He summed up the following sentence: no negotiation, no counter-offer, love to vote, don't roll.
A business negotiation made Tan Yaocheng feel an insult that he never had before. It was like trying to bargain with others when buying vegetables. It broke the sky, but the other side didn't give in at all. He said as much as he wanted.
Finally, I bite my teeth and ready to say yes. Unexpectedly, the other side said, ”you can buy it, but you can't pick and choose. Do you want to love it?”
It took Tan Yaocheng a long time to calm his heart. Then he said to Li Mu, ”let me talk about our conditions.”
”Please say,” Li Mu nodded
”We need a B round right to vote alone or lead,” Tan said
According to the normal pattern, Li Mu's round a financing is several million yuan, which can be used to expand the team, develop and promote the business. When the financing money is nearly spent, he has to carry out round B financing. At that time, he has to take out a part of shares dilution for fund exchange, that is, round B financing. What Baidu wants is nothing more than round B opportunity. If he is very optimistic about this Project, you can vote alone, in that case, others want to vote have no chance.Li Mu doesn't want to give him the chance to vote alone, because in that way, if song Liang wants to follow in round B, or he wants other people to come in round B, it will depend on Baidu's face.
Therefore, Li Mu gave the first concession today: ”leading investment is OK, but not alone. According to the proportion of Baidu in round a this time, Baidu in round B can also give priority to leading investment in two-thirds of the whole transferred shares.” (to be continued. )