My Return to Life

Latest website: In the Park Hyatt South Pavilion surrounded by the sea of ​​clouds, the fragrance of tea overflows and the fragrance is pleasant.

Several middle-aged men were seated at one of the long conference room tables.

Lei Jun stood in front of the top of the conference table, and the projected light beam passed through him.

After Fang Nian's words fell, the entire Nange was quiet.

Lei Jun calmed down after meeting Fang Nian's eyes, he had expected it.

Lei Jun was mentally prepared by agreeing to raise funds based on Fang Nian's proposed valuation of $200 million.

The reason why Fang Nian said it was to ease it.

It's not that financing can't be bargained, and it's noisier than the vegetable market when it gets up.

It's nothing more than for their own interests.

And the representative partners of Shen Nier, Kuang Ping, Liu Qin and several other investment banks quieted down because of Fang Nian's offer.

200 million dollars? !

A round of financing is valued at $200 million? !

After a while, a person named Dai Qiang said: "President Fang, if I take the liberty, the valuation is 200 million US dollars?"

"If the news given by President Lei is correct, Xiaomi will dilute 20% of its shares in this A round of financing. According to this valuation, the financing amount will reach 40 million US dollars..."

After a short pause, Dai Qiang said: "I have to wonder what exactly Xiaomi has, what is the next business plan, and why is the investment so large?"

After Dai Qiang's words fell, someone immediately followed him.

"Sorry, although Mr. Lei hasn't started talking about Xiaomi, but I am also confused about this valuation."

"..."

It is equivalent to saying that soon after Fang Nian finished talking about the expected value of the valuation, Nange was in chaos.

The noisy sound really does not skimp on the vegetable market.

This is the first time Fang Nian has seen such a lively financing scene.

Speaking of it, this is also because after Fang Nian started to make capital, he could directly cross the world to find investors and directly engage in financing meetings.

But in any case, Fang Nian has gained insights today.

For at least five minutes, neither Lei Jun nor him had the opportunity to speak.

Can only stand on the sidelines.

In this process, the big bosses with strong capital and background are basically quiet.

For example, Shen Nier, IDG's Guohong, Kuang Ping, who was the first to ask, and Liu Qin, who had been prepared.

In the noisy room, Shen Nier said flatly: "Mr. Lei, please introduce us to Xiaomi products first."

"..."

Lei Jun did not decline, and started speaking in accordance with the PPT that had been prepared a long time ago.

"You can interrupt at any time while I'm talking."

"Xiaomi was established on March 22, 2010. It was only three months before the day before. In this process, inspired by Mr. Fang, Xiaomi developed a smartphone operating system called'Nuwa'."

"..."

Lei Jun was interrupted after speaking the first sentence.

Still Dai Qiang: "Sorry, President Lei, let me interrupt, Xiaomi has developed a smartphone operating system?"

"Yes, the smart phone operating system completely independently developed is different from the current mainstream smart phone operating system in the world." Lei Jun explained seriously.

"Oh?" Dai Qiang frowned and asked, "If I understand correctly, the new operating system means that there is no software?"

"That's right." Lei Jun replied again.

This Dai Qiang also came prepared. He was invited to come, indicating that the capital is also strong.

And, Lei Jun is willing to take him to play.

Lei Jun is still very strong.

At least in the capital circle, he is the earliest group of individual angel investors in China, and his investment list is also very brilliant.

From the Mi Angel round to the current A round, Lei Jun is consciously screening investors.

It is not difficult to understand why Dai Qiang was so prepared.

Just a self-developed operating system, Dai Qiang raised 11 questions.

Including how to define independent research and development, whether it refers to open source systems, etc.

Fortunately, Lei Jun, after all, was born in the computing sciences of Wuhan University, and he can explain things clearly in science and engineering.

From the design level, from the research and development level, from the writing level, to the application level, the description is very clear.

Fang Nian on the side is clear.

Dai Qiang didn't deliberately come to find faults. It is different from the kind of investors who catch a bunch of faults in the business plan.

The questions that Dai Qiang asked were all on the idea.

And it can be seen from the attitude that his investment tendency is very strong.

There is just one thing Fang Nian can't tell.

Is Dai Qiang another'double spring' invited by Lei Jun?

When Dai Qiang finished asking, someone said: "As far as I know, the'Nuwa' system has been publicly tested on a small scale, right?"

"Yes." Lei Jun answered with a smile.

"Is it convenient to talk about the internal test data now?"

"Convenient. In the first batch, we only invited 100 users for internal testing. So far, only 101 users have used it."

"..."

Before half of the PPT was finished, Lei Jun had been'cross-examined' for twenty minutes.

This is the first time Fang Nian has so clearly and intuitively felt the real financing environment.

Capital has a strong voice.

Whether he understands or not, he will have a lot of questions.

This is the investor that Lei Jun has selected and invited over.

In a word, when the A round of financing began, the more important factor determining whether to invest has shifted from personal connections to benefits.

Regardless of whether they are familiar or not, the determining factor has become whether they are optimistic about the product and whether they are optimistic about the business model of operating the product.

Of course, at this stage of the A round, it is also a personal connection factor.

It's just that Xiaomi's A round is valued at US$200 million, which minimizes the human factor.

Xiaomi was not greedy for fun at the beginning, but after the product was launched, and the business model was quickly verified.

That's why Morningside Capital invested so happily.

From the sidelines, Fang Nian feels another charm of money.

It can be arrogant.

…………

Lei Jun finally finished the first PPT passively and procrastinated.

Fortunately...

Lei Jun has a better understanding of the operation of investment capital, and has not prepared a business plan with dozens of pages at all.

There are not many pages in the PPT, just 9 pages stuck.

Fang Nian even thought to himself, is the last page thank you everyone?

"In this internal test, we discovered many shortcomings of the'Nuwa' system and verified the excellence of'Nuwa';

Before this financing, Mr. Fang and I had an in-depth discussion on the future development of "Nuwa";

Including but not limited to limited opening of "Nuwa" to accelerate development;

Indeed, so far, our self-developed mobile phone operating system cannot install any existing software on the market, but we have started to build it ourselves;

..."

This time, Lei Jun’s time was slightly longer.

Even the second PPT is over.

The main purpose is to introduce to the investors present the development situation, future direction and commercial value of Nüwa.

Include some small details.

Or Dai Qiang first said: "I have heard that Mr. Fang has a brilliant vision, but according to Mr. Lei, the soul designer of'Nuwa' is Mr. Fang?"

"It's true." Lei Jun smiled, "Fang always changed my original intention of founding Xiaomi."

"..."

The many questions are still more than ten minutes past.

The investor's perspective is really tricky.

It is many times more tricky than against Dangkang games.

There is only one reason, not trusting domestic products, especially the reliability of domestic independent research and development.

for example.

If Xiaomi follows the original development trajectory, it will directly customize the UI based on Android.

There will not be so many problems facing this financing.

And this does not mean that everyone agrees with Fang Nian's $200 million valuation.

Now it's just the normal financing process.

After talking about the next development and business plan of Nüwa, Lei Jun solemnly resigned.

"Before developing'Nuwa', Mr. Fang and I have discussed the main development model of Xiaomi in the future;

First of all, Xiaomi’s development direction is an Internet company;

Relying on the ‘Nuwa’ operating system as its core, it has entered the field of smartphone manufacturing and produced domestic mobile phone products that appeal to users. "

"From the release of'Nuwa', Xiaomi has followed the development of Internet companies and established vertical connections with users based on the Internet;

This model will be replicated in the production, distribution and sales of mobile phones. "

"..."

This time, almost none of the investors here spoke much.

Lei Jun also basically finished the blueprint of Xiaomi's future, including important future development directions, including core business models.

This time Guo Hong was the first to speak: "Mr. Lei, is it similar to the e-commerce model that you said relying on the Internet to establish vertical connections?"

"Correct."

"..."

"First system, then software, then hardware. I agree with this business plan process, but there are some doubts...

Since it is an Internet company, how to make sure that the mobile phone made is good enough;

Especially the current overall average price of domestic mobile phones is less than 700 yuan..."

"..."

"Yes, we all know that Apple of the United States has released an epoch-making smartphone product, but Xiaomi's start is a bit late..."

"..."

Finally, Shen Nier said: "I am very interested in Xiaomi’s business model, and I like the name'Nuwa' very much. Aside from the US$200 million valuation of Mr. Fang, I have a question. President Fang."

"How do you convince Mr. Lei to change his entrepreneurial intention and build a brand new system from scratch;

We must know that this is a period of rapid development of the Internet. From Mr. Lei’s description, I can feel that "Nuwa" is still an immature system;

Obviously a lot of time will be wasted on this, why not choose the open source Android system;

After all, rebuilding the wheel is laborious and thankless, and Android is completely free, neither buying nor renting. "

Shen Nier's doubts point to the core focus of Xiaomi's development.

Why reinvent the wheel.

Why not choose what is available.

The experience of the past few decades has long proved that'buying is worse than making, and renting is worse than buying' is the fastest, effective and beneficial way of development.

Xiaomi clearly wants to become an Internet company, but it turns the cart before the horse!

This question was directly addressed to Fang Nian by Shen Nier.

When Shen Nier finished speaking, everyone present looked at Fang Nian, including Lei Jun.

Upon seeing this, Fang Nian looked calm, and replied in a simple and powerful manner: "Mr. Shen, father and mother have it, it is better to have it!"

"It is true that the United States, where the computer was invented, already has a complete system.

Android belongs to Google, and Google is a commercial company. Instead of facing the possibility of being forced to charge licensing fees after it has grown, it is better to get rid of this possibility from the beginning. "

"..."

After Fang Nian's words fell, the expressions of everyone present changed.

Two acquaintances Liu Qin and Kuang Ping realized something.

Dai Qiang and the others are different.

Some people did not take it seriously and even stated on the spot: "Fang, you are too pessimistic about this."

Fang Nian laughed and said nothing.

He can understand the reaction of everyone present.

Because everyone has never experienced the various disputes that followed, and never seen the ‘reason’ proved by the United States with countless facts.

Even the absurd remarks that you cannot use accessories containing American technology...

But Fang Nian still hopes that someone can understand his thoughts.

In the last century, China faced nuclear threats and extortion at that time;

If it weren’t for the idea of ​​‘fathers and mothers are not as good as you have’~www.ltnovel.com~, if you follow the proposal of Big Brother in the North, how can there be such a bright mushroom cloud?

Now, in 2010, neither iOS nor Android has fully completed its own ecological construction. This is the best and most likely opportunity.

Even every day in the future, I will be grateful for every second of so-called ‘wasted’ time before today.

‘Then it’s time to bargain. ’

Muttered in his heart, Fang Nian's expression was still calm.

Suddenly someone said: "I voted!"

======

Break the bowl and ask for subscription monthly pass, book friends circle 14.5w plus update, 4th update 15,000 words to send~

PS: The title of this chapter can be regarded as the core expression of the third volume.