When the news of Li Dong wanting to raise funds got out, the entire business world was in an uproar.
There were many reasons for the uproar.
As a private enterprise, Far away's shareholding structure was not unusual.
Many private enterprises were owned by the family.
However, it was rare to see a private enterprise with a scale of more than 10 billion RMB.
The current valuation of the famous Lao Godmother in the future was probably less than one-tenth of the Distance Group.
As for the giant among the private enterprises, Lehaha, its shareholding structure was also very complicated. It was a private enterprise in name, and it was no different from a state-owned enterprise.
Far away should be the only private enterprise in China with a scale of more than 10 billion RMB.
There was also the future richest man, Mr. Wang. He was still busy selling off his employees' shares and had not completed the privatization.
No matter how one looked at it, Distance Group was still the company with the least amount of shares among the ten billion companies.
The simpler the shareholding structure, the more maneuverable it was. Far away's profits were naturally higher.
Other than this, Far away had many other advantages.
Far away's pillar industry, Faraway Supermarket, had almost started its nationwide expansion and was almost completed.
Nowadays, other than a few state-owned retail groups, in the field of department stores, even if Distance wasn't number one, it was still firmly in the top three.
The other company that was in a similar situation as Far away should be Shinichi. But recently, there was bad news from Shinichi. In addition, the former General Manager was forced to resign, causing Shinichi to be unable to expand.
In the private department stores sector, Faraway Supermarket was the king.
Before the e-commerce industry had an impact on the physical industry, the retail industry was the most cash flow, and it was difficult for outsiders to get the opportunity to invest in it.
At this time, Far away provided this opportunity.
Supermarkets were one of them, but the supermarket industry attracted the attention of some domestic investment institutions.
Compared to the domestic investment institutions that focused on the physical industry, the major foreign capital institutions were more interested in Far Away Mall and Far away Logistics.
In the previous e-commerce war, Li Dong had fully displayed the advantages of this self-operated logistics system.
Far Away Mall was originally a lot weaker than Taobao, but in the end, it turned the situation around in terms of logistics. Even if Li Dong lost a lot of money, there were still many people who were optimistic about the combination of Far Away Mall and Far Away Logistics.
In his previous life, Jingdong had also used this to attract the attention of a large number of investment institutions.
Even if Jingdong suffered losses every year, and even after it went public, capital institutions that were willing to pay for Jingdong still flocked to it.
Under Faraway Group, except for the uncertain future of the real estate company, the other three subsidiaries had attracted the attention of a large number of investment institutions.
…
September 2nd.
Far away from the building.
It had been less than 24 hours since Li Dong revealed the news of accepting financing. Far away, his phone was exploding with calls.
In the meeting room.
Yuan Chengdao said with some excitement, "At present, we have received calls from KPCB, DST, ACCEL, De Feng Jie, Today Capital, and other VC/PE institutions. Several institutions are very optimistic about us and hope to do a large-scale market research on Far away in the near future. Of course, these companies are focusing on the mall and logistics field. As for the supermarket … "
Speaking of the supermarket, Yuan Chengdao hesitated for a moment before saying, "Because our supermarket system is close to perfect, plus we focus on national brands, some foreign capital will definitely not be able to enter. On the other hand, domestic private equity funds are generally weaker. I am more optimistic about the olive branch from other companies in the same industry. Compared to other institutions, these companies can bring us more help and expand our channels and influence. At present, China Resources and Bailian hope to talk to us. General Manager Li, what do you think? "
Li Dong said lazily, "Is there no one else besides these two? At this time, our target is these two. You want these two to cooperate with Far away? Don't you know how Su Guo was taken down? Originally, Su Guo was preparing to go public, and even in the East China region, Su Guo beat China Resources and Bailian. In the end, Su Guo became China Resources. If Su Guo accepted financing from other channels, China Resources and Bailian might not be the only ones in the domestic retail market. Don't tell me you haven't considered this problem before? "
Yuan Chengdao coughed lightly and said, "We have naturally considered these, but Faraway Supermarket's valuation is very high now. Plus, our supermarket channels are close to perfect, and VC institutions are deterred. If PE institutions enter, the most urgent task is to prepare for the listing.
And you said before …
Plus, almost all large PE institutions are foreign capital, so if we want to accept financing, these companies that also do retail channels are more suitable.
Of course, it is not that no one is interested in the supermarket.
Many people are interested, but not many institutions have this capital and strength. In fact, Jiangbei State-owned Assets Supervision and Administration Commission also indirectly expressed this intention.
The State-owned Assets Supervision and Administration Commission hopes to use some other ways to enter Faraway Supermarket, including tax, land mortgage …
Or in the form of currency, such as Nonferrous Metals and Hua 'an Securities, which are controlled by State-owned Assets Supervision and Administration Commission, to hold shares in Faraway Supermarket. "
Li Dong heard this and said helplessly, "It seems that Internet companies are more popular. Also, from the current point of view, Internet companies have fast returns, and the rate of return is also high. Once it goes public, it may have a return of ten or even a hundred times. Traditional industries such as supermarkets have assets here, and most of them are mainly fixed assets. Even if it goes public, everyone can roughly estimate how much it will increase. "
This was why many traditional industries did not choose financing. There was no way, and it was difficult for both sides to reach an agreement.
Investment institutions need high returns, and it is difficult for traditional industries to bring this kind of explosive rate of return.
And the underestimation of traditional enterprises by investment institutions also caused enterprises to be dissatisfied. Just like the current Faraway Supermarket, the actual value is probably more than 10 billion.
If it was an Internet company, this kind of value is likely to be valued several times or even dozens of times.
But in fact, the valuation of Faraway Supermarket by major investment institutions is not much different from the actual value. Not to mention dozens of times, even double is a dream.
On the contrary, the actual value of Far Away Mall is not high, and it is easier to get the attention of investment institutions.
Li Dong said this casually. Traditional industries have a lot of disadvantages, but there is one thing that Internet companies cannot compare to.
That is stability. Traditional enterprises with a lot of tangible assets have a much stronger ability to resist risks than Internet companies, and in terms of social influence.
Currently, there are thousands of Internet companies. Other than BAT and a few others, how many other companies have social influence?
Physical companies are different. A physical company with a scale of hundreds of millions has a great influence in the local area, and it is involved in many aspects. Once there is a crisis, the first reaction of the government is to rescue the company and restructure the company.
What about Internet companies?
If they go down, then so be it. Every year, there are too many that go down, and there are not many local governments that will back them up.
All kinds of thoughts flashed in his mind, and Li Dong did not say much. He said directly, "Then this time, we will use Far Away Mall and Far Away Logistics as the main body. You are responsible for those investment institutions. As for the supermarket and real estate, since they are not optimistic, then we do not need to rush to their door. Temporarily put aside the financing plans for these two companies, and see how much the shopping mall can offer us. "
Yuan Chengdao heard this and did not refute. After all, supermarkets and real estate companies are indeed not as popular as shopping malls and logistics companies.
But when he thought of Li Dong's 10 billion financing plan, Yuan Chengdao reminded him, "General Manager Li, if we only focus on shopping malls and logistics, the possibility of raising 10 billion is not high."
"Why do you say so? When Ali received 1 billion USD in financing, it was not far from us. Not to mention, we still have logistics. 10 billion is only slightly more than 1 billion USD. What's more, Yahoo did not only take out 1 billion USD, but also the rights to use all of Yahoo's local businesses, brands, and technologies in exchange for 40% of the shares and 35% of the voting rights. "
Yuan Chengdao nodded. "That was indeed the case. But at that time, Ali had just defeated eBay, and their main business was not Taobao, but their B2B business. But we only have shopping malls … "
"Who said we only have shopping malls? PP is the number two instant messaging software in the country. Although it is not as good as QQ, it is still number two. Isn't it valuable?
Another thing is the Million Cartoon business. Although the market share is low now, with Far Away Mall supporting it, the 50 million users of Far Away Mall will be converted to Million Cartoon users sooner or later.
Isn't this valuable?
Also, the Weibo that is going live soon. Why are you all not treating it seriously? Is it not valuable?
You all might not be able to see the advantage, but that does not mean others can't see it.
10 billion RMB is only 1.3 billion USD. Just our Far Away Logistics alone is worth more than that!
You all look down on Far Away, and you expect others to look up to you?
It is true that we are number two in all aspects, but it is also because we are number two that we have the opportunity to counterattack. The returns are higher, and the possibility of the future is higher.
According to my price, Far Away Mall, including Far Away Logistics, should be worth 10 billion USD … "
Before he could finish, everyone was staring at him with their mouths agape.
How much?
10 billion USD!
Did they hear wrongly? Or did Li Dong say the wrong unit?
According to the current exchange rate, 10 billion USD was more than 80 billion RMB.
Even the current market value of Tencent was only 10 billion USD, and Tencent had been listed for a few years. Could it be the same as the current Far Away Mall?
Seeing everyone looking at him like this, Li Dong frowned and said, "What's wrong? Don't you believe me when I say 10 billion USD?"
Yuan Chengdao said awkwardly, "General Manager Li, it's not that we don't believe you, but we are still in the development stage. If our valuation is too high, there may be a huge psychological gap."
Li Dong said with a faint smile, "Then what do you think our current Far Away Mall, including Far Away Logistics, is worth?"
Wu Shengnan asked, "Does it include Far Away Logistics Park and Sichuan Airlines?"
"Yes."
Wu Shengnan thought for a moment and said, "According to my price estimate, it is about 15 billion RMB."
Li Dong did not answer. He looked at Qin Hai and said with a smile, "CEO Qin, you are the CEO of a logistics company. What do you think?"
Qin Hai said in a muffled voice, "Far Away Logistics still has a lot of potential to be excavated. I think with Far Away Mall, there should be 20 billion."
"CEO Yuan, what about you?"
Yuan Chengdao did not know what Li Dong meant. He thought for a moment and said, "About the same as CEO Qin and the others. Take the middle value, about 15 billion to 18 billion USD."
"So it is about 2 billion USD?"
Everyone did not say anything. In fact, this was indeed the price they had in mind.
Moreover, this was an overestimation.
According to the actual value and the investment in these industries Far Away Mall should be around 10 billion USD.
However, it was financing, so it was normal to overestimate it.
Li Dong saw the expressions on everyone's faces and smiled without saying a word.
At this time, he wanted to recruit a few Internet elites from the bottom of his heart. F * ck, did these guys lose their heads in the industry?!
According to the actual value of Far Away Mall and Far Away Logistics, the actual value was probably more than 10 billion USD. In the end, these people calculated for a long time and gave a value of about 15 billion USD.
According to their calculations, if they wanted to raise 10 billion USD, they would have to sell at least half of the shares.
If it were the CEO of a group like Ali or Tencent, they would definitely not think this way.
Originally, Li Dong really had some thoughts of financing. As long as he did not touch the supermarket and could make some money for development, he did not have much psychological resistance.
But at this time, Li Dong completely gave up on this idea.
If it was according to their ideas, he might as well just give money to others.
The second largest shopping mall, the second largest instant messaging software, soon to become the second largest payment service, and the soon-to-be-launched Weibo …
These were just the shopping mall. In terms of logistics, thousands of stores, several distribution centers, several large warehouse centers, Sichuan Airlines shares, Far Away Logistics Park …
Even if I really went bankrupt, I would not sell it even if it was 10 billion USD!
After making up his mind, Li Dong smiled and said, "Then let's talk about it according to your ideas. Of course, I don't need to teach you how to quote the price. Don't easily expose our bottom line. Let the other investment institutions see for themselves. You should understand this. Alright, enough talk. How much financing you can get depends on you. I'm afraid of dealing with these institutions. You guys go and talk about it yourselves. Let's call it a day. Liu Hong, stay behind. "
After everyone left, Li Dong asked Liu Hong, "Manager Liu, you should know more about the shopping mall than them. What do you think the value of the shopping mall and logistics is?"
Liu Hong did not expect Li Dong to ask him this question.
After hesitating for a moment, Liu Hong said cautiously, "In 2003, even eBay was worth more than 200 million USD when it was sold. At this time, whether it is the users or the influence, we are more than ten times more than eBay in 2003. This is just the shopping mall, PP, Wantoon, and other businesses. I think it's worth 3 billion USD. Coupled with the logistics system, both sides will complement each other and produce additional effects. It might not reach the 10 billion USD that Mr. Li mentioned, but I think the expected value of 5 billion USD is still achievable. "
Li Dong smiled and said, "Do you know that Ali is planning to go public?"
"I've heard about it."
"They are splitting their B2B businesses to go public, excluding Taobao. After this listing, the market value should be more than 150 billion HKD."
Liu Hong was shocked. Li Dong said slowly, "Of course, their B2B business is good. There is no doubt about this. We can't compare to them. But then again, Far Away Mall should be worth more than one-tenth of their business, right? "
"Definitely more than that."
"Together with Taobao, if Ali goes public, the total market value should be more than 200 billion USD. Even if we are one-tenth of their business, the 3 billion USD you mentioned should be more or less enough."
Li Dong said with a smile, "The valuation you gave is not bad. Together with the logistics system, it's almost 40 billion USD. But it seems that CEO Yuan and the rest don't agree. The value they gave is less than half of what you said. Is this the saying, beauty is in the eye of the beholder? "
"Although Far Away started as a retail business and the shopping mall started late, it does not mean that it is worthless. It seems that humans have their limits. "
After sighing, Li Dong did not care if Liu Hong understood or not. He changed the topic and said, "Alright, let's not talk about this for now."
"Let's talk about Weibo. Are you guys ready for the Weibo launch tomorrow?"
Liu Hong suddenly said with a serious expression, "We have been ready for a long time! We have been preparing for the Weibo launch for more than half a year. There will not be any problems. "
"That's good. We don't have to be too high-profile on the first day. Let everyone familiarize themselves with it for now." Li Dong continued, "When they are familiar with how to operate it, it will be time for us to show our strength."
"Recently, pay attention to the hot topics on the internet. I need a topic that everyone will pay attention to as soon as possible. Use this opportunity to make Weibo trending."
Liu Hong seemed to understand, but not really. "Alright, I understand."
Seeing his expression, Li Dong knew that he probably did not understand what he meant. In fact, Li Dong was just reminding him.
The reason why he chose to launch Weibo at this time was because there would be a big topic that would be discussed by everyone very soon.
Previously, Li Dong was planning to launch Weibo during the National Day celebration.
However, two days ago, Li Dong happened to see a report that reminded him.
The Jinling Peng Yu case was going to be judged!
According to the report, the case would be judged on the 4th.
Before the judgment was issued, not many people paid attention to Peng Yu's case. Such a small civil dispute was not worth everyone's attention.
However, no one expected that this small, insignificant case would cause such a big controversy when the judgment was issued.
Li Dong was not involved in the matter, so he could not comment on who was right or wrong.
Whether or not morality was on the decline, Li Dong did not have the ability to change it. Since he could not change it, it was best to take advantage of the situation and reap benefits for himself.
Such a controversial judgment was the easiest to cause a storm of public opinion.
At this time, Weibo happened to be launched. As long as Li Dong let some of the popular stars drive the topic, it would quickly become a trend.
Under the influence of public opinion, there might even be a truth to the matter. Thinking about it, Li Dong felt that he should not be too snobbish.
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