But with a leader like Gu Bai, who can foresee the future, strategizing behind the scenes, Yan Xiaobo only needs to fully implent Gu Bai’s directives to steer the company onto the right track.
After Yan Xiaobo finished speaking, the executives of Xingnai dia all applauded, even Gu Bai, Li Zhun, and Zhao Weiwei gave a gentle clap with a smile.
Yan Xiaobo inadvertently glanced at Gu Bai, received his gesture, and continued speaking.
"However! As the company has developed to this point, we’ve hit the first bottleneck! If this bottleneck is not broken through early, it won’t take long — perhaps within a year, we could be surpassed!"
Everyone once again listened quietly to Yan Xiaobo’s speech.
"A few days ago, I received a docunt stating that the parent company of Douyin, ByteDance, has reached a Pre-IPO round financing agreent with SoftBank, KKR, Primavera Capital, Yunfeng Fund, and General Atlantic. The valuation is 80 billion USD, and they are selling 5% equity to raise 4 billion USD in funding. (Actually in October.)
And their first order of business after the financing was to contact our Xingnai dia, looking to invest in us.
And this is our opportunity to break through this bottleneck!"
Yan Xiaobo paused, observed everyone’s reactions, then continued, "Our Xingnai dia is essentially a derived industry attached to various short video platforms, with 65% of the company’s focus on Douyin. You could say ByteDance complents us at Xingnai dia and also holds our lifeline. Although the three shareholders of our company signed a ’no financing ever’ agreent, regarding this financing agreent with Douyin, I suggest we handle it cautiously. It might be the developnt tipping point for Xingnai dia, and missing it could result in incalculable losses."
After saying this, Yan Xiaobo returned to his seat.
"What are your thoughts?"
Gu Bai is too busy with the Black Swan Group to get involved in Xingnai dia’s developnt, apart from giving suggestions to Yan Xiaobo. anwhile, Li Zhun is in the process of succession at Nanshan Group, similar to Gu Bai’s situation, so Zhao Weiwei should rightfully beco the top operator at Xingnai dia. It was most appropriate for him to pose this question first.
Li Zhun did not answer but looked at Gu Bai and said, "You suggested the ’no financing ever’ agreent back then. Now, tell us your thoughts."
Yan Xiaobo is Gu Bai’s spokesperson at Xingnai dia, and now that Yan Xiaobo has brought up the financing proactively, it’s essentially representing Gu Bai’s perspective. Gu Bai didn’t treat them as fools and spoke directly, "You’re all aware of my opinion; I suggest accepting the financing. When we signed the ’no financing ever’ agreent initially, it was because the importance we placed on Xingnai dia was not high — it was just for fun. But now, the company has developed so well, the circumstances have changed, and the agreents should be adjusted. After all, we’re all in this for the money; there’s no need to turn it down.
Although I’m the largest shareholder, there’s no need to make an issue of equity among the three of us. If you both disagree, we can refuse this financing imdiately."
"Refuse? Why refuse?"
Just after Gu Bai finished speaking, Zhao Weiwei chid in, "You two are doing great out there, one as the president of the Black Swan Group and the other as the successor of Nanshan Group, leaving to toil here alone at Xingnai dia. Now there’s finally a chance to stand up, why would I refuse?
I’m the first to accept the financing, and initially, I planned to discuss it with Old Gu, but there’s no need now. Brother Zhun, what’s your opinion?"
Li Zhun shrugged and said, "Since you’ve both agreed, what else is there for to say?"
Thus, the large-scale financing with a total valuation exceeding 2 billion was decided amidst a joking conversation among the three.
"Vice President Yan, please tell us what valuation ByteDance has given us?"
Yan Xiaobo sat upright and said, "2.5 billion, requiring us to give up 30% of the shares."
Gu Bai, experienced in nurous financing acquisitions, sneered slightly upon hearing this offer and said, "Next ti during negotiations, tell them our bottom line is a valuation of 4 billion, and at most, we’ll give up 20% equity.
If they aren’t satisfied, show them the inco from our major online influencers this quarter. If it’s below this condition, we won’t consider it!"
Before Yan Xiaobo could respond, Li Zhun hesitated and said, "Gu Bai, isn’t this a bit inappropriate? Isn’t the valuation a bit too outrageous?"
Gu Bai smiled at him, then waved his hand at all the executives, signaling them to leave.
Two minutes later, everyone had left, leaving just Gu Bai, Li Zhun, and Zhao Weiwei in the expansive conference room.
"Do you think ByteDance would agree to my offer?"
"It’s difficult. Although ByteDance just raised 4 billion USD, they aren’t foolish either. This is too outrageous; the valuation is almost doubled."
Gu Bai gave a faint smile, but with a tone of certainty, he said, "But I say ByteDance will definitely agree!"
Zhao Weiwei couldn’t help but ask in confusion, "Why do you say that?"
"Although we are a derivative industry of short video platforms, we have now taken the lead in the MCN agency sector. More importantly, as Yan Xiaobo ntioned, 65% of the market focus is entirely on Douyin. This is their leverage to constrain us, and it’s also our confidence to backstab them at any ti!
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