Due to Li Mu's toughness and the continuous rise of Muye Technology's status in the Internet industry, Sequoia finally gave up the routine due diligence work before financing and directly signed a contract with Li Mu at Muye Technology!

Three hundred and three billion dollars, the dust has settled!

Li Mu's strength has made Sequoia and the entire venture capital circle feel great pressure, but in the capital field, whoever can make money is his father, and Li Mu happens to be the one who can make money the most.

When Mark Zuckerberg founded Faebook, it was quite difficult to obtain hundreds of thousands of dollars in financing. However, after he pushed AEbook into the formality, overseas wealthy people flew to the United States to ask him to invest in AEbook at a high premium and voluntarily give up all voting rights. This is the change in the position in the capital industry.

A contract finalized the valuation of Makino Technology's 33 billion US dollars, and also determined the largest financing for the world's Internet industry at the end of 2002.

However, the valuation at this time was much higher than the previous one. After all, no matter how high the valuation was before, it had never successfully transferred shares at that valuation price. However, it is different now. Sequoia's contract has been used for US$3.3 billion, which affirmed the valuation of US$33 billion for Muye Technology.

After signing the contract, the entire Muye Technology was in full bloom.

Whether it is colleagues in the United States or colleagues in Yanjing, they are excited about the company's surge in valuation and huge financing. The atmosphere is much more exciting than the New Year.

Although Makino Technology did not get the money immediately after signing the contract, the entire Internet industry and venture capital circle were all exploded.

I know that Makino Technology is very awesome now, that yy has more than 200 million users, that yy has begun to develop towards "centralization", but I didn't expect that yy's valuation can reach such a high level.

Three hundred and three billion dollars! This is already a record high valuation for Chinese Internet companies, and it can rank among the top in the entire US Internet industry.

However, the capital statistics are relatively rigorous. Although Sequoia gave Muye Technology a valuation of $33 billion, no media has included Muye Technology in the ranking of market value of Internet companies in Silicon Valley and the world, because those companies that are really on the list are basically all listed companies, because for the media, companies only have the concept of "market value" after they go public.

Overall, the market value has the highest value, and the valuation after actual financing is second, Makino Technology's valuation of more than US$30 billion has made it completely at the top of the world's Internet industry.

Media around the world are paying attention to the financing of Muye Technology, just like Alibaba Bar was listed in the United States in the previous life, and the whole world is paying attention to its market value exceeding 200 billion yuan and 300 billion US dollars.

Overnight, countless media published large-scale special reports on the C round of financing of Makino Technology and Sequoia, which promptly promoted Makino Technology to become a global hot topic.

Major media around the world have different opinions on the valuation of Makino Technology's 33 billion US dollars. Most of them are shocking, a small number of them take it for granted, and a small number of them believe that Makino Technology's bubble is too big and scary. If one day the bubble bursts, it will become the biggest news in the Internet industry, and may even trigger a chain reaction, leading to a new round of Internet bubble burst.

However, no matter what kind of voice, it cannot cover up the light of Maino Technology at this moment. The whole world has turned its attention to Maino Technology. In Asia, more than one billion people are paying attention to every step of Maino Technology's financing.

The Chinese people are the most cheering for Muye Technology. In China, the attitudes of more than one billion people are highly unified. There is nothing else except pride.

At the same time, the Chinese people's admiration for Li Mu reached a new high again.

Li Mu hopes to be the business card of China's Internet industry, or even China's national business card. Now it seems that he has achieved his goal.

Li Muren has not returned to China yet, but the domestic reports on him are no longer overwhelming.

Since Harvard University's speech, Li Mu's every move in the United States has been closely watched by Chinese media and has been tracked and reported in detail. So Li Mu's current exposure is even more exposed in China than the entire entertainment industry.

Just when everyone hoped that Li Mu could stand up and speak out at this time, Li Mu, who was still in Silicon Valley, came to Lin Qingya and went to discuss matters related to the new round of financing with Kong Lingyushang, who was in Yanjing.

However, Li Mu first raised his core idea with the two: "This time we will not discuss corporate development and strategic planning, we will only discuss two issues: First, employee cash rewards; second, employee option pool preparation."

After the financing is successful, the valuation of Makino Technology will continue to rise soon. If there is a major strategic development in the next one to two years, you can basically consider starting iPo. Once the company's iPo is successful, it will be time for the company's shareholders and employees to pick fruits. Now the core employees have certain shares. Although the financing is slightly diluted, the overall market value is still very gratifying. However, this is just a core management staff. Although ordinary employees currently have various complete benefits, the option issue has not been prepared. Now it seems that it is the time.

Li Mu's claim is that before the company goes public, it must first prepare a certain share ratio as an option pool and complete the distribution before listing. In this way, once the company goes public, employees' options are converted into the company's stock, and they can exercise their rights in the stock market and cash out.

Kong Lingyu and Lin Qingya have no objection to Li Mu's options pool plan. They have worked with Li Mu for more than a year and are now billionaires with a theoretical value of over 100 million yuan. Their blind admiration for Li Mu has almost reached its peak.

So, Li Mu probably made a plan. He currently holds about 70% of Muye Technology's shares. After 10% of the ratio, there is still about 65% left, so he is personally willing to take out 5% of his shares and rush into the option pool. According to the current valuation, this 5% overall exceeds US$1.5 billion.

Whether it is Song Liang, Chen Ze, and Xu Jiaming, they are all investors of Muye Technology. If there is capital in, they will have no problem with diluting it. However, Li Mu knew that he could no longer ask them to develop his style. Lin Qingya and Kong Lingyu had very few shares in their hands. If they were asked to donate a part of it, it would not be fair to them.

That's why Li Mu decided to take out 5% of his shares to form an option pool, and then split the 5% of his shares, and divide the 5 points of the shares into 50 million original shares in the form of 10 million original shares per percentage point. The 50 million original shares will be the employee option pool of the entire Muye Technology for a period of time in the future.

After deciding the total number of options pools, Li Mu asked Lin Qingya to take the lead in formulating an option allocation rule. It should be formulated based on the time each employee joins the company, in the company's level, contribution, KPI assessment, special contribution and other dimensions, and clarify how many corresponding options can be obtained if they meet different conditions, and the time required for option exercise.

50 million original shares are not a small number, so Li Mu made a request to Lin Qingya: "At present, we only have more than 1,000 employees, so you have to make reasonable allocations of options in the option pool. You cannot spend them all in one go. Just like saving money, you must have control."

Lin Qingya nodded: "Don't worry, Mr. Li, I understand this."

Li Mu said: "My idea is to take 10% from the option pool at this stage, which is five million shares, and allocate them to more than 1,000 employees now. When our employees exceed 3,000, they will take out 10%, exceed 5,000, and then take out 10%. Before we go public, we will take out 20%, divide half of the option pool, and the remaining 50% will be slowly distributed to new colleagues who will join later after the company goes public."

Kong Lingyu in the video conversation said: "Boss, it is already very high for a thousand people to share 5 million shares. Now the value of each share is $33, which should be about 270 yuan. Even if an employee gets 1,000 shares, it will be more than 200,000 yuan."

Li Mu smiled slightly and said, "Ling Yu, the value of options is not calculated like this."

Kong Lingyu and Lin Qingya in the video both looked at Li Mu.

Li Mu smiled and said, "Look, although we currently value 33 billion US dollars and split 5% of the shares into 50 million shares, each of which is indeed 33 US dollars, but before we go public, options are not allowed to be exercised. All employees want to cash out and have to wait for us to go public. After we go public, the value of this option will definitely be far more than $33."

As he said that, Li Mu explained: "Although each original share in the option pool is worth $33 at this stage, its actual value is not measured by money. You must remember that according to what we decide, the actual value of each original share is one billionth of the actual value of the company."

"If our future valuation continues to increase, then before we go public, the market value may reach 80 billion US dollars. After we go public, the company's market value may exceed 100 billion US dollars. At that time, it is the window for employees to cash options. Each original option stock is equivalent to a company stock worth 1,000 US dollars. For example, if our stock price after listing is 20 US dollars, then the actual value of each original option is 1,000 US dollars. After we go public, every original share in the hands of employees will be directly exchanged into 50 shares of the company."

Kong Lingyu nodded, laughed at himself and said, "Boss, I am a wild person. To be honest, I don't know much about the way to play options, especially after I go public."

Li Mu smiled and said, "It doesn't matter if you don't understand. Just do the business you should be responsible for. This doesn't have to be followed by the industry rules, we can decide on it ourselves."

Lin Qingya asked at this time: "Mr. Li, if we divide 50% of the option pool, then how should we operate the remaining 50% of the option pool after we go public? Will it be directly converted into the company's stock?"

Li Mu nodded and said, "Yes, we give employees options before listing, and after listing, we will give employees stocks directly. In the future, according to my assumption just now, our total share capital after listing will have a total of 5 billion shares, and the remaining 2.5% in the option pool will directly become 125 million company stocks."

As he said, Li Mu said again: "After we go public, in order to attract talents, we must formulate a stock quota for mid-to-high-end talents after entering the company. For example, if the technical talents of p7 come in, we will give 5,000 shares of company stocks in addition to salary and benefits. Five thousand shares may be worth tens of millions, but the exercise of these five thousand shares must be limited to a time limit, and the exercise of the rights will be divided into several years, so as to bind talents to the company for a longer period of time."

Lin Qingya nodded and said, "I understand Mr. Li. At that time, we will limit the total exercise period to three years. Employees can have an opportunity to exercise one year after formally joining the company. The total exercise amount shall not exceed one-third of the total number of shares; one-third of the right exercise after two years; one-third of the remaining exercise after three years."

...

ps: I am so tired that I owe you a chapter tonight and try to make up for it tomorrow.
Chapter completed!