This is the first time that many shareholders of the company have heard of the comprehensive financial, development and market conditions of the School Inside Network. It can be said that the development of the School Inside Network has exceeded everyone's expectations. Especially the profit of more than 30 million yuan per month. Although the School Inside Network has not distributed dividends since its establishment, according to the shares held by everyone, it is equivalent to the minimum shares of each person each month with more than 100,000 yuan.

When the school network was founded, Jiang Hui's words to everyone were still vivid in his mind. Most of the current shareholders are still students, with a monthly income of more than 100,000 yuan. Although he can't get it for the time being, it is still quite impactful.

"Next, Mr. Tang, please introduce to you the background of today's meeting," Jiang Hui said.

SoftBank’s first contact was Tang Wen. He is currently responsible for the early communication with SoftBank. For many shareholders here, there is probably not much concept of what venture capital is and what position SoftBank has in the venture capital industry. Jiang Hui himself was under the bombardment of the media in his previous life and realized that there was a big tycoon like SoftBank behind the Internet world in the Celestial Empire.

"A few days ago, SoftBank Chronicle personnel contacted me and expressed their willingness to invest in the campus network. Following Mr. Jiang's instructions, I will take advantage of this meeting to introduce the situation of venture capital and SoftBank to you," said Tang Wen.

"Venture investment is actually the abbreviation of venture capital. The VC generally refers to venture capital. This term and its behavior are usually believed to originate in the United States. It was invented by some investors who were willing to trade high risks for high returns after the 1960s and 1970s. This investment method is essentially different from the previous methods of mortgage loans. Venture capital does not require mortgage or repayment. If the investment is successful, investors will get several times, dozens or even hundreds of times of return. If it fails, the money invested will be wasted. For entrepreneurs, the biggest advantage of using venture capital to start a business is that even if they fail, they will not bear debts. This makes it possible for young people to start a business. In general, this investment method has developed very successfully over the past few decades," said Tang Wen.

"In the past seven or eight years, a group of overseas students represented by Du Niang, Xinlang, Sohu and others have returned to China to start businesses and brought back a large number of venture capital to China. This new financing method has greatly catalyzed the growth of small and medium-sized enterprises. Currently, venture capital companies are more famous: Idg, Sequoia Capital, SoftBank, etc.," said Tang Wen.

"The one who wants to invest in the school network this time is SoftBank. It is estimated that other VCs will extend an olive branch to the school network soon. SoftBank is the abbreviation of SoftBank Software Banking Group. It is a comprehensive venture capital company founded by Masayoshi Son on September 3, 1981 in the island country and listed in the island country in 1994. Software Banking Group is mainly committed to investment in the IT industry, including broadband networks, fixed network telephones, e-commerce, Internet services, Internet telephones, technology services, holdings, finance, media and market sales. Software Banking Group owns shares in hundreds of IT companies around the world and has a relatively large influence on the Internet. Just last year, SoftBank invested 40 million to Shengda Games," said Tang Wen.

"SoftBank's founder Masayoshi is a legendary figure. Masayoshi Son came to California from the island country at the age of 16 and studied at the University of California, Berkeley, and received a bachelor's degree in economics. During his college years, he earned his first million dollar income by importing electronic game consoles from the island country and installing and operating them near the campus. He also developed a variety of computer games. His entrepreneurial spirit soon led him to invent and obtain a patent for a multilingual pocket translator, which was later sold to Sharp for $1 million. In 1981, he returned to the island country to establish SoftBank. When you have time after the meeting, you can learn about his deeds, which is more helpful in improving your understanding of the Internet," said Tang Wen.

"SoftBank has another relatively large investment in China, which is to give two funds to Ma Tiancai from Hangzhou. SoftBank bought 20% of Alibaba's shares for US$20 million and US$60 million in the second third round of financing in 2000 and 2004 respectively. Judging from SoftBank's past style, SoftBank's China is expected to invest a fund to occupy about 20% of the shares of the School Net.com. The specific situation will only be known after negotiations begin. The above is what I want to say today," said Tang Wen.

Except for Jiang Hui, Tang Wen and Fang Dawen, the other people here did not have a deep understanding of SoftBank's investment intention, so after listening to Tang Wen's speech, everyone turned their attention to Jiang Hui.

"Everyone has learned about the company's situation. It is developing relatively fast at present, but it has also exposed some problems, such as the decline in the growth potential of the number of users, and the profits are heavily dependent on game returns. Introducing venture capital can accelerate our professional and regular development, and the funds obtained can also allow us to do a big move, which is also very beneficial for the future listing of the company. However, there are also some disadvantages. First of all, our company's development decisions have more voices, which may be inconsistent with everyone. Some regulatory measures will be added to the use of funds," said Jiang Hui.

Jiang Hui picked up the tea cup on the table and took a sip of tea, giving everyone some time to digest.

"After saying so much, what everyone is most concerned about is whether to accept financing? What valuation is used to carry out financing? What is the financing ratio? In fact, in my personal opinion, financing is inevitable for companies to develop, but do we need financing now? It depends on how much SoftBank’s bid is. After all, financing will dilute everyone’s shares. I once told you that in the future, everyone will be millionaires and billionaires. I am serious about this. Now conservatively estimate that the valuation of the School Network will not be less than 700 million to 800 million. According to the shares held by everyone, everyone who is at least worth millions." After Jiang Hui said this, it aroused a sigh from everyone that if he was accidentally, more than a dozen millionaires would be born. Maybe in another half a year, more than a dozen millionaires would be.

"Old Tang, you can contact SoftBank first and see what conditions they have offered. I guess SoftBank will also follow suit with other venture capitalists. At that time, we will choose the best financing targets," said Jiang Hui.

"Okay, then how do we open our offer price by Mr. Jiang?" said Tang Wen.

"The proportion of the first financing shall not exceed 15%, and the valuation shall not be less than one billion. At least half of these financing shares must have no voting rights," said Jiang Hui.
Chapter completed!