What Qin Xinkun said about the high threshold is not an exaggeration.

After a comprehensive understanding, Lu Heng also realized the difficulty.

Rather than working alone, Jumei Youpin was created with the support of Lu Heng and a group of young teams led by Chen Ou.

Vipshop, also an e-commerce company, has laid a very solid foundation from the beginning.

They have two founders and three major founding investors.

The two founders, Shen Ya and Hong Xiaobo, are both traditional businessmen in Wenzhou. They have previously collaborated in electronic foreign trade business. They both have rich experience in both traditional retail and e-commerce.

In addition, when the company was starting up, three of their classmates from the Cheung Kong Graduate School of Business came in with large amounts of capital, and the founding capital was once as high as 30 million yuan.

This is rare among e-commerce companies. When Jumei Youpin started, it only had one million funds from Lu Heng, and a lot of it was occupied by the game business.

When JD.com started, it was even worse than this. Liu Qiangdong had 12,000 yuan in his hands at that time.

The amount of capital at the beginning can be compared with the speed of development. It took JD.com ten years to get to where it is now, but Vipshop was established in 2008. Now, in just two years, it has become the most popular discount product website in China. , here, abundant initial funds played a big role.

During the development of Vipshop, there was no external financing for two full years, which shows that their previous funds were sufficient.

For other companies, let alone two years, many would not be able to survive for one year.

Even though Ele.me had the support of a rich man like Lu Heng, it still raised external funds a year later. This is a good comparison.

Now that two years have passed, Vipshop's development has reached a bottleneck. It needs more funds and new shareholders to come in and dilute part of the shares of the other three founding investors. This is their purpose.

The purpose is obvious, and the operation will be easier.

With a start-up capital of up to 30 million, it took two years to develop into one of the top e-commerce companies in the country. How much capital will it need?

"Four hundred million, at least more than four hundred million!"

Qin Xinkun gave an accurate answer. When he spoke, his breathing seemed very rapid.

As soon as these words came out, even the people in Genesis who had been prepared couldn't help but exclaimed.

"They want so much money?"

"The largest investment in our company is less than 100 million yuan!"

"It's a bit difficult to handle. If all this money is invested, it will affect the investment plans of our five cities, and the capital chain will be greatly affected."

Lu Heng rubbed his chin. To be honest, he was a little scared by the amount of funds.

Qin Xinkun added, "More money is not a problem. The key is that the shares they are willing to give out are very few. The disclosed amount is only 15%. Even if I make a bottom-line prediction after having people evaluate it, they We will not give out more than 20% of our shares.”

Zhang Wei from the Finance Department widened his eyes and said angrily: "This is a money grab! For so much money, only 15% of the shares are given, so the gangster is willing to rush to give away the money."

Lu Heng frowned, Vipshop’s financing stance is very strong!

A lot of money is asked for, but so little is given.

Don’t look at the fact that Youzi Technology reached a financing of up to 310 million yesterday, which is only 100 million different from Vipshop’s capital requirements, but the price given by Youzi Technology is much higher.

Sunshine and Ping An alone gave a total of 20% of the shares.

Autohome has expanded its shareholding to 20% while keeping its original shares unchanged.

Fully 40%, nearly half of the equity was handed over in exchange for more than 300 million in funds.

Compared with the strength of Vipshop, Yuezi Technology is far behind!

However, Lu Heng also understands that no matter how good an information service website is, even if it reaches the top level, in terms of profitability, it cannot compare with mid-to-high-end e-commerce companies.

Otherwise, why would the most profitable Internet companies around the world, including China, always be e-commerce companies?

Amazon, Alibaba, and JD.com are all engaged in e-commerce, that is, online retail.

It is precisely for this reason that Lu Heng did not intend to make Yuzi Technology a simple information website like Autohome from the beginning, but added elements such as transactions and sales into it.

If you can't become an automobile e-commerce company, you must at least become a platform service website, and its earning power can be considered average.

Qin Xinkun smiled bitterly and shook his head, "There are really some people who are being bullied and rushing to give money. The top venture capital DMs in the United States, as well as Sequoia, which we have dealt with, are all contacting Vipshop and are willing to give high prices."

Lu Heng said lightly: "After all, the success of Vipshop is there. In just two years, it has become one of the top domestic e-commerce companies. Not to mention its speed, the potential is extremely abundant. Everyone is very optimistic about it. We are creating a century.

Are you also one of the people who were taken advantage of?"

Zhang Wei shut up. By this time, she also understood that others did have the confidence to charge high prices.

Lu Heng looked at Qin Xinkun and asked, "Have you inquired about the conditions offered by DM and Sequoia? If we join, what will be Vipshop's attitude?"

Qin Xinkun gritted his teeth and said with difficulty: "I asked about it, but I didn't find out. Vipshop is extremely powerful. When we contacted, we negotiated alone and didn't give us a chance to join forces at all. As for our attitude?"

Qin Xinkun shook his head, his expression not very good.

"Vipshop has a very general attitude towards us, Genesis. They are a bit disdainful of our financial strength, and they are worried that Genesis will not be able to invest more in the future when Vipshop is short of money. In addition, their ambitions seem to be great."

"oh?"

Lu Heng raised his eyebrows, puzzled by this.

Qin Xinkun scratched his head and said with some uncertainty: "I heard this from my friends. It seems that Vipshop is already planning to go public, and they are very confident about it. It is probably because of this that they are not very fond of our Genesis.

!”

Although Qin Xinkun's news was not accurate, Lu Heng was enlightened after hearing it.

No wonder Vipshop is not very enthusiastic about contacting domestic venture capital Genesis. If they are really confident about listing, they will definitely favor overseas capital when selecting investors.

This is a common approach for domestic Internet companies that want to go public, well, companies that want to go public overseas.

Over the years, although the state has been encouraging Chinese e-commerce companies to list on domestic A-shares, in fact, many companies still choose to list overseas, and the worst ones are thinking of listing on Hong Kong stocks.

There are many reasons. Picking some simple ones can explain part of them.

For example, in terms of time and cost, the review procedures for domestic listings are very complicated, which makes local companies very troublesome, and the queues for listings are longer, which makes everyone impatient.

This has resulted in very high listing costs for local companies to list domestically.

Compared with the registration system in the United States, its steps only include forming a consulting team, completing due diligence, registration approval, promotional roadshows and pricing for listing. These simple procedures are very popular with technology companies and Internet companies.

More importantly, compared with European and American countries, my country's venture capital and venture capital started late. Overseas PE and other investment and financing intermediaries entered the Chinese market very early and provided support to entrepreneurial enterprises in their initial stages, from entrepreneurial financing to listing. With the participation of overseas capital, it has become an inevitable trend to be keen on overseas listings.

The state has no good solution for this. While it encourages domestic listings, it does not object to overseas listings.

After all, listing overseas can still earn foreign exchange for the country!

If Vipshop is serious about its plans and is confident that its overseas listing will be successful, then when choosing a venture capital institution, it will definitely lean towards top international venture capital institutions such as DM and Sequoia.

This can make their road to listing smoother.

After rubbing his head, Lu Heng still felt a little unwilling.

He knows very well which e-commerce companies in China have made great achievements and made a lot of money.

Compared with the famous Jumei Premium, Vipshop is actually more successful, and it has been on an upward trajectory and has never fallen off.

If you can get some equity in it at this time, the income will definitely exceed everyone's imagination.

In the conference room, everyone was talking non-stop. Some were surprised that Vipshop wanted to go public, but some were not optimistic about it.

It has only been two years since it was founded, and it has not even taken the right steps yet. Now it wants to compete in the world arena. Anyone who hears this finds it unbelievable.

At present, there are only a few strong e-commerce companies in China. Dangdang has been established for eleven years and only started seeking to go public this year.

The giant Alibaba Group, which owns Taobao, is still developing in silence and has basically not mentioned its listing to the outside world.

Even JD.com, which has accumulated sufficient strength and has a strong foundation, is constantly pursuing new financing. These seniors are still accumulating strength.

You, Vipshop, just want to go public as soon as possible. Are you too anxious or too arrogant?

Zhang Wei said seriously: "Director Lu, why don't we shelve our plan to invest in Vipshop!"

"Reason?" Lu Heng asked without raising his head.

"The capital requirements are too high, the returns are too little, and it will affect the development strategy of the entire company. These three points alone are enough."

Zhang Wei said methodically that since she was in charge of finance, she naturally thought from the perspective of money.

Lu Heng did not comment, but looked at Qin Xinkun.
Chapter completed!