Mr. Song from idg and his party came to the conference room of the campus network on time.

"Mr. Jiang, I finally saw you. In the past six months, the Internet industry in the Celestial Empire has been frightened by you," Mr. Song said with a smile.

"Haha, it's nothing. We are just more creative and more hard work than others," said Jiang Hui.

"What we like most about IDG Investment is a creative and hardworking startup company. Our company began to invest in the Tianchao in 1992 and was the first foreign investment fund to enter the Tianchao. Currently, Penguin, Duniang, Xiecheng and other companies have invested in our investments," said Mr. Song.

"I have heard that your company invests in a group of companies in Tianchao every year. I also noticed that Xunlei and NetDragon have your investments in it recently. Our campus network also welcomes sincere investors from all walks of life to share the fruits of development with us," said Jiang Hui.

"The partners of idg Capital have the longest cooperation time in Tianchao and the longest cooperation time in the domestic venture capital industry. They have backgrounds such as technology, medicine, finance, management, and rich management, venture capital operation experience, outstanding performance and reputation in the industry, and have won the trust of entrepreneurs and investors. One of the powerful advantages of idg Capital is that they have established a wide range of contact channels with entrepreneurs in Tianchao, and maintain close cooperative relationships with them; and provide strong support for every company in the portfolio, such as funds, experience, and business relationships. idg Capital is committed to assisting outstanding entrepreneurs in Tianchao to jointly create world-class technology companies. Therefore, Mr. Jiang, you don't have to worry about the sincerity of our company's cooperation," said Mr. Song.

What Mr. Song said is not considered a blowjob. Since entering the market early, Penguin and Duniang and other future Internet giants in the dynasty have invested in Idg. In addition to establishing the status of Idg Capital in the investment industry, these projects have also brought rich returns to investors. According to Idg Capital statistics, the first fund started in 1993 and ended in 2003, with an average annual return rate of 36%; the second fund started in 1999 with a return rate of more than 40%. So far, Idg Capital has invested only more than 100 million US dollars in China, and its return has reached 700 to 800 million US dollars, which is a huge profit.

"Zhaowen.com is actually not short of money now, but I still say the same thing: sincere investors are welcome. Mr. Song, what is the valuation of idg for Zhaowen.com?" Jiang Hui asked.

"At present, we initially estimate that it is 600 million yuan, but if Mr. Jiang can provide further financial information and other content on the campus network, we will make reasonable corrections," Mr. Song said.

Since he was considering financing, Jiang Hui asked He Ling to make a simple financial statement for the venture capitalists to view, and the corresponding number of users and other information were also sorted out.

"I understand. After the meeting, I will provide you with a piece of information and organize some financial information and other contents of the campus network on it," said Jiang Hui.

According to Mr. Song's current valuation of 600 million yuan, Jiang Hui will definitely not agree to financing. The school network needs financing mainly to consider the need for a large amount of funds to build a data center in the future. If you simply maintain the current development status, you will actually be short of money this year.

"Okay, we will revalue based on the information provided by President Jiang," said Mr. Song. He probably saw that Jiang Hui was not satisfied with the current valuation.

Everyone continued to talk for a while and then the first meeting ended.

...

After meeting with the staff of Idg Investment, the next day, we had a talk with Sequoia Capital.

Sequoia Capital was established in Silicon Valley, USA in 1972. In more than 30 years since its establishment, Sequoia, as the first institutional investor, has invested in many innovative trend-leading companies such as Apple, Google, Cisco, Oracle, and Yahu. In Celestial, Sequoia Capital Celestial University team manages $1 billion in overseas funds and domestic funds to invest in Celestial high-growth enterprises. It can be said that this is an investment institution that is more rich than IDG.

Jiang Hui specifically learned about the development of Sequoia Capital in the past decade, which is much better than IDG. The annualized internal return rate of Fund No. 6 established by Sequoia in 1992 was 110%, and the internal return rate of Fund No. 7 established in 1995 was 5%. Even the No. 8 Fund, which did not fully recover its returns due to the establishment of a late set of funds, had an internal return rate of 96% between 1998 and early 2003. This is a series of figures that can attract anyone in the venture capital industry: the average level of the internal return rate of the industry is between 15% and 40%.

Jiang Hui is looking forward to meeting Sequoia Capital.

At 10 o'clock the next morning, Sequoia Capital and its team led by Mr. Zheng, the head of the Tianchao Branch, to the campus network. Jiang Hui personally went to the elevator entrance to greet him.

The introduction of personnel, greetings, and compliments of each other have almost become the standard process for the first interview. More than ten minutes later, the meeting finally came to the main topic.

"Mr. Zheng, I won't be beat around the bush. You probably know the situation of the school network. I would like to ask what the valuation your company gave? Only when consensus is reached on this major premise can we continue to negotiate," said Jiang Hui.

"We have several versions of the valuation of the School Inside Network. Using that version of the data, we need to consider comprehensively based on the situation of the School Inside Network and several other companies. Can Mr. Jiang introduce to me the relationship between Guanghui Investment, Guanghui Technology, Guanghui Games, Guanghui Payment, Zhonghui Network, Meituan, Douban, Autohome and several offshore companies?" Mr. Zheng said.

"Of course, to put it simply, these companies have one thing in common, that is, they are controlled by me, but the control forms are different. The school network is not fighting alone, but will become an aircraft carrier, and a fleet cooperates with each other to advance," said Jiang Hui.

"Apart from the school network, is Mr. Jiang interested in financing other companies?" said Mr. Zheng.

"As long as the valuation is right, you can talk about it," said Jiang Hui.

Although Guanghui Payment and Guanghui Technology Jiang Hui do not intend to introduce new shareholders, there is no need to say it at once.

"If these affiliated companies are indeed controlled by President Jiang, then our team, President Jiang's confidence will be further improved. Our company can conduct financing negotiations based on a valuation of 800 million yuan. Is President Jiang satisfied with this price?" said Mr. Zheng.
Chapter completed!