Top floor of the office building No. 1, Mingguang Science and Technology Park, in the large conference room.

The two people sat opposite each other on both sides of the conference table, with Wang Ye's people on one side and Temasek's negotiator on the other side.

There are not many people, and Wang Ye is here with him and LISA as negotiators, and Liu Ruomei and Liu Tao.

There are five people on Temasek, the team leader is Lee Guanghua, and the other four are assistants, lawyers, etc.

Meigou.com is not short of money, not to mention that it has been in a profitable state, the 20 billion yuan that the last time the internal shareholders increased their capital has not been used up.

So this time it was not a share expansion financing, but just a part of the shares transferred by Wang Ye personally. This was only carried out after the meeting of many shareholders was approved.

In fact, Sequoia Capital and IDG wanted to take over this part of the shares, but Wang Ye did not agree, and the reasons he gave were quite sufficient. Meigou.com was going to leave the mainland market and go to the world after all.

Of course, there may be great resistance to Europe and the United States, but the Asia-Pacific region can do it. Therefore, American Shopping Network also needs a shareholder with a strong influence in the Asia-Pacific region.

And this time the transfer of shares was for this purpose.

This is a very good reason, and no one can object.

In fact, when Meigo.com raised its first financing, Temasek was interested in coming to invest, but they were too slow.

Temasek's style is that before investing, a detailed survey and evaluation of the target investing company will be conducted. The evaluation results are excellent and the risks are not high, and the investment stage will be truly entered.

The rise of Meigo.com was so fast that it went online in May, and within a few months, it forced two competitors, Lefeng.com and Jumei Youpin, to go bankrupt and the other to be acquired.

Meigou.com has become a leading company that dominates the mainland cosmetics e-commerce market. Looking around, there is no competitor.

Meigou.com's first financing speed was also very fast. It took less than two weeks from emitting rumors to announcing the successful financing.

This is because Meigou.com is really outstanding, and its current performance and future prospects are very bright.

On the other hand, there are too many investment banks who want to participate in the pie. Other investment banks are not as cautious as Temasek, and their investment style is obviously much bolder.

Take Sequoia Capital for example. They also set their sights on Mego.com in advance and completed the investigation and evaluation of Mego.com in less than two weeks. The conclusion was that once the S-level investment targets had the opportunity, they would have to invest at a relatively large price within the affordable range.

Therefore, as soon as Meigou.com released the news of financing, Sequoia Capital immediately made a quote. Even though Wang Ye had a big appetite, after signing the betting agreement, Sequoia Capital met his conditions.

Temasek was too cautious. It took more than two months to conduct an investigation and evaluation alone. Before their investigation and evaluation results came out, Meigo.com had announced that the financing had been completed and closed the door to entry.

Although he lost the opportunity to enter the first round of financing, Temasek did not give up, but continued to follow up and investigate. Over the past six months, his evaluation of the US Shopping Network has also become higher and higher.

Until this second round of financing opportunity, the members of the Temasek Investment Committee held a meeting and decided to get the ticket for this entry, so Li Guanghua, one of the members, was sent here...

...

Wang Ye looked at the Temasek negotiator Li Guanghua opposite him. This was also a young man, and he should be only twenty-three or four years old.

At this age, Wang Ye knew that he could get into the committee in Temasek with a very outstanding background. When he contacted his surname Li, he would understand a little.

This young man must have been from the "Li family" and probably a direct descendant. Moreover, Li Guanghua himself must be very outstanding, otherwise he would not have been praised. He entered the top management of Temasek at such a young age.

Li Guanghua looked at Wang Ye directly opposite him and felt secretly in his heart that the mainland is truly outstanding, with all kinds of young elites emerging one after another.

Of course, Temasek investigated and understood clearly. Their family had no relationship with each other, which was equivalent to starting from scratch. In less than two years, they controlled several large companies, and even this Meigou.com, Wang Ye owned 50% of the shares.

Not to mention other companies, just this Meigou website, once it goes public, the shares in Wang Ye’s hands will be worth at least tens of billions of yuan, and it may even be higher!

In contrast, he was from a prestigious family and graduated from a world-leading university. He joined the prestigious Temasek as soon as he left the school. He was promoted to the investment committee in less than three years and was also one of the company's senior executives.

This kind of qualification is already very excellent, but it still cannot be compared with Wang Ye.

The two of them had their own thoughts and admired each other, but the people next to them had different feelings.

Liu Tao sat not far behind Wang Ye, and with his status, of course he was not qualified to sit at the negotiating table.

Coincidentally, Liu Tao is also 24 years old this year, the same age as Wang Ye, and is probably almost the same as Li Guanghua.

But compared with Wang Ye and Li Guanghua, he is too far behind.

The two young men, one of whom is a big boss with a net worth of tens of billions, controls several companies with unlimited prospects.

Another one can represent a huge capital of over one trillion yuan, and is obviously a person with a clear and sensible hand.

But I was a small investment manager who was very happy to be able to get 20,000 or 30,000 yuan a few days ago.

At that time, I could not imagine what the world of Wang Ye and Li Guanghua looked like.

...

The negotiations officially began, and Wang Ye planned to transfer 100 million shares this time.

Now Meigou.com has a total share capital of 850 million, and Wang Ye has 425 million shares, of which 25 million are taken to invest in the Danish Royal Fund.

In other words, the shares that Wang Ye can use now are 400 million shares.

The last time their shareholders increased their capital by 20 billion yuan internally, they were based on a valuation of 100 yuan per share. However, Wang Ye is now transferring shares to external capital, and it is obviously impossible to calculate at 100 yuan, because at that price, he lost too much.

To calculate the valuation of a company, especially an Internet company, you obviously need to look at various data first. What are the number of registered users, the number of active users, daily active users, monthly active users, payment rates, etc.

These data are even more important than the company's financial data!

Because these data represent the status and prospects of this Internet company in the industry.

If you look at the financial data, then companies like Amazon should have gone bankrupt long ago, with huge losses of billions of dollars a year...

But the reality is that Amazon not only did not go bankrupt, but its market value was hundreds of billions of dollars, making it the world's largest e-commerce platform. Traditional entrepreneurs cannot understand such things.

The reason why investors are optimistic about Amazon is that they are optimistic about its industry, its leading position in this industry, and its bright future.

The mainland was not used to this investment concept at the beginning. Take the stock exchanges in Shenzhen and Shanghai for example, why have there been no domestic Internet companies listed here?

Because these two stock exchanges have imposed strict regulations, companies must make profits for three consecutive years before they can have basic listing qualifications!

Just this one makes all domestic Internet companies feel sad and can only go abroad to go public.

Therefore, Temasek evaluates the value of the US Shopping Network first and starts from the data aspect. The most important data, the number of registered users of the US Shopping Network, has now reached more than 100 million!

At the beginning of 2012, there were about 300 million netizens in China, of which about 40%, or 150 million.

The female netizens who know how to do online shopping or are willing to accept online shopping are only over 100 million and were caught by the American Shopping Network.

Because women mostly buy cosmetics and clothes and other things on the Internet, and Meigou.com can now be said to be the only cosmetics e-commerce platform in China, so why don’t female netizens register?

As for paid users, that is, the number of people who have made the least shopping on the US Shopping Network has now reached 80 million. The payment rate is as high as 80%, which is a very outstanding number.

If you only look at these two numbers and don’t have an intuitive impression, then you can compare it with JD’s data and you will know what it means.

In 2011, the total number of registered users of JD.com was 85 million, while the number of paid users was less than 50 million.

As for financial data, Meigou.com is even more eye-catching. With the increase in brands sold on the platform, sales have also been growing steadily.

In 2011, in the second half of the year, Meigou.com achieved sales of 40 billion yuan, which is an average of 200 million yuan per day!

This number steadily surpassed JD.com, and JD.com's daily sales data last year were only less than 150 million.

Li Guanghua certainly understood these data. He smiled and said: "Meigo.com's performance is indeed very outstanding. If we compare JD.com, Temasek is indeed more optimistic about Meigo.com."

This optimistic view also shows that Temasek gave USG.com a valuation of USG in terms of quotations of USG! This also exceeds JD's current valuation.

In JD.com's latest round of financing, its valuation is 16 billion US dollars. The past two years are also the stage of JD.com's rapid development, so the valuation is not low. However, this round of investment banks that have invested in JD.com will probably be worried in the second half of the year, and next year, they will be even more unable to cry.

From 2012 to 2013, JD.com was a trough of development, with weak growth, losses, intensified competition, and various adverse factors followed one after another.

In February 2014, before JD.com was about to go public, Wall Street's valuation of JD.com was only US$7.5 billion!

Of course, this is also the intentional suppression of JD.com. When JD.com went public in May 2014, its market value reached US$28.5 billion on the first day.

Among JD.com's shareholders, there is only Tiger Global Fund, a shareholder with a US background, and the rest are from mainland China.
Chapter completed!