[77 million]
At the same time, Xu Chenghua looked at Luo Sheng and asked neatly: "Brother Luo, how much venture capital do you want this time? How much equity are you transferring? As for you, we nod or shake our heads."
The others didn't speak, obviously there was no objection. With the preparations in the front, they learned the strength of Luo Sheng, and they were too lazy to open the conditions on their own. Anyway, if they were not satisfied, they would be the same in the end, then save this link. Let Luo Sheng speak on his own initiative, then nod or shake his head.
When I meet this kind of founder, I want to take the initiative, or don't invest.
Luo Sheng simply stated: "Based on the valuation of 1.1 billion after the pre-A round of financing, I want 77 million yuan, which is 7% equity transfer."
Xu Chenghua and the other three investors who came to Zhankeng did not speak, it was the default. Now Liu Wen and the three of them are afraid to be a young founder.
The valuation of 1.1 billion is inseparable from the highest valuation in their minds. Li Yan's valuation of Blue Star Technology is between 1 billion and 1.3 billion.
After hearing this, Liu Wen couldn't help but regret again that he couldn't rob Xu Chenghua first to get the angel round investment, so that the old horse took up the biggest pit and the least money was paid.
So angry!
One million shares sold 8% of the shares, and 77 million shares sold 7% of the shares.
However, although it is too late to grab pits, it is not too late. The pre-A round of financing is much stronger than the subsequent rounds of financing. As long as Bluestar technology has a good momentum of development, the subsequent valuation will only get higher and higher. The same proportion of equity is not tens of millions, but hundreds of millions or even higher, of course, the risk will be lower and lower.
The sale of 7% equity financing of 77 million this time, the original shareholders' equity will be diluted accordingly.
It is worth mentioning that Xu Chenghua, on behalf of Teng Xun, signed an angel round of financing for Bluestar Technology Investment and signed a weighted average clause to ensure that the preferred shareholding ratio will not be diluted madly. Similarly, the three new shareholders will also request Signed a weighted average clause to ensure that the proportion of stocks will not be diluted drastically during subsequent financing.
Luo Sheng will naturally agree, everyone is the same.
However, investors asked for the establishment of a board of directors and a board of supervisors as soon as possible. Luo Sheng temporarily compiled a bunch of reasons for the early stages of the company's development. He also made sense, and the investors agreed to him temporarily. Anyway, there is a "shareholder agreement." It is not a big deal to make a special agreement to guarantee it.
Liu Wen said, "I agree with this valuation, and I am willing to invest. For the time being, there is no board of directors and board of supervisors. I can agree, but I have one last request, Mr. Luo, you must agree."
Luo Sheng: "Please say."
Liu Wen: "Blue Star Technology has completed the angel round financing, but I find that President Xu does not seem to require you to set up an option pool reservation. Before the pre-A round of financing, you must set up an option pool in order to prepare talents for future company recruitment. Stay, the option pool is from your founding team, and Tengxun, and we will complete the pre-A round of capital increase and share expansion after completing this step. "
Xu Chenghua laughed: "I forgot to mention this at the time, it was a big loss."
The three new investors smiled as if to say: I believe you a ghost!
In fact, I really forgot that Xu Chenghua was helpless.
Luo Sheng did not object to this, and nodded: "No problem, we have set aside 15% for the option pool, but I will hold the 15% option pool and enjoy voting rights."
Several major investors also expressed no objection to this.
In fact, in the angel round financing stage, investors should require the establishment of an option pool, but Xu Chenghua did not mention this at the time, of course, Luo Sheng would not have offered it silly, and now the 8% equity held by QQ should also be diluted and entered. Options pool.
This is not included in the weighted average clause.
After the overall situation was roughly settled, the next step was smoother, and it took another twenty minutes.
The two parties discussed the results and reached a consensus, which basically determined the equity structure of Bluestar Technology after the pre-A round of financing.
After completing the pre-A round of financing, the proportions of the major shareholders are:
Option pool reservation: 13.95%
Luo Sheng: 65.4534%
Tencent: 9.124%
Xu Yong: 7.2726%
Softbank Capital: 1.7%
Venture Capital Fund: 1.4%
IDG: 1.1%
Among them, the equity reserved by the option pool is held on behalf of the founder Luo Sheng.
Due to the problem of establishing an option pool in this round of financing, Tencent suffered a loss. It originally accounted for 8% of the shares. The establishment of the option pool was diluted. However, after completing the pre-A round of financing, Tencent's total shareholding increased to about 9.1. %, Became the second largest shareholder and the largest external investment shareholder of Bluestar Technology, and Xu Yong became the third largest shareholder of the company.
Several major investors invested Bluestar Technology in accordance with their respective shareholding ratios, totaling 77 million yuan.
It can be seen from the pre-A round of financing that the sooner you take up the pit, the less you invest, the more equity you hold, but the greater the risk;
Conversely, the later you invest in the pit, the more you hold, the less equity you hold, but the less risk you take.
Luo Sheng reached a consensus with several investors. The next step is the formal signing ceremony, but instead of signing at Bluestar Studios, he decided to go to Baiyue Hotel to complete the formal signing ceremony.
Before recruiting new employees, Luo Sheng did not hire a lawyer because he couldn't afford a professional lawyer. Now that he has enough money, he can hire a team of lawyers to be responsible for the company's legal affairs.
As for the signing of this pre-A round of financing, Luo Sheng will not rashly sign the contract. The contract was drafted by the VC. He needs to temporarily hire a lawyer to review the contract to avoid traps in the contract. He doesn't want to see these big headaches. The complicated clauses are best solved by professional lawyers, but the lawyer's fees can be included in the company's financial reimbursement.
All of Luo Sheng's eyes are on the eyes of Xu Chenghua and Li Yan, some of his investors. He is very cautious, he will hardly let himself let go of any potential mistakes, even if the set is mostly set by him. Find.
In this regard, several investors were helpless but reassured a lot. With a founder like Luo Sheng at the helm of the company, their confidence increased a bit.
After all, only if the company operates well, investors can have a profit return.
After the interests were negotiated, several investors' attitudes towards Luo Sheng also changed. They all left the meeting room with a smile and left the Blue Star Technology Studio to sign a contract.
Xu Yong and a few of them saw Luo Sheng go out with several VCs and quickly caught Irene.
"Xiao Ai, wait a minute, how is the boss talking to that group of investors? It depends on the situation, how much money has been raised?" Xu Yong said impatiently.
"77 million transferred the company's 7% equity, and you will ask Luo Ge when you come back." Ai Lin simply said a word and quickly followed him out. He is Luo Sheng's assistant. This time to go out to sign a formal contract, naturally past.
When an employee heard this astronomical figure, he couldn't help smashing his lips: "My God! 77 million, actually only sold 7% of the equity, UU reading www.uukanshu.comm last time angel round financing 100 but sold 8 %, 77 million is actually 1% less this time? Are the VCs' brains caught in the door? I am wrong, I should not question the boss. "
...
Baiyue Hotel, a conference room.
There were more than a dozen people in the room. Luo Sheng and 4 investors sat together at the conference table. Unconsciously, more than three hours had passed.
Erin Meizhi sat on Luo Sheng's right, while on the left sat a lawyer's team consultant he invited from the law firm.
The conference room was very quiet at the moment. The team of lawyers who took the case was silently reviewing the contract just drafted. After a few minutes, they finally closed the documents. The person in charge looked at Luo Sheng and said: "Luo Sir, the contract is fine. "
After hearing the words, Luo Sheng nodded, and the girl Erin sitting next to her thoughtfully understood and gave Luo Sheng the official seal of the company.
A total of four contracts and eight documents, Luo Sheng swiped one by one and stamped the official seal of Blue Star Technology, and then the two sides exchanged documents. Li Yan and their respective contracts were also completed and signed, and once again exchanged documents each one. Share and shake hands with each other.
At this moment, Luo Sheng is shaking hands with Li Yan, the investor in charge of SoftBank Capital, and laughs: "General Manager Li, keep the contract and wait for some money in the future. This contract will be conservatively valued in the billions in the foreseeable future."
Li Yan shaking hands with a smile, billions? In other words, the future market value of Bluestar Technology will reach 600-700 billion?
I really don't know how to get back to him, Li Yan said with a smile: "Mr. Luo, the more you draw the bigger the cake, the more imaginary it is."
Immediately after signing the contract, Xu Chenghua shook hands with Luo Sheng and laughed: "So, these 9 points are worth more than 50 billion yuan?"
Luo Sheng smiled: "Look forward."