It was almost nine o'clock in the evening. At this night banquet before financing, the elites in the circle were relaxed and drank very happily, and they had long lost their past grace and cultivation.

For example, Zhou Hang was so hot that he sweated frequently, so he took off his coat and even pulled the collar open.

When Yu Chaohui was about to meet monk Fuhai, Shang Fuhai's cell phone rang.

Yu Chaohui was unhappy: "Dong Shang, drink first. When you drink, you will be fined three cups according to the rules."

Do you want to escape by answering the phone? It’s all a trick, so coax someone!

Shang Fuhai smiled slightly: "I must have finished drinking this wine with Mr. Yu first and it's done."

"Happy, I'll say that Dong Shang is a happy person, you think so!" Yu Chaohui looked at the others proudly and said.

Shang Fuhai did what he said. After drinking with Yu Chaohui, he looked at the flashing screen of his phone and directly connected: "Kevin, what did you say?"

It was too messy here, and he couldn't hear it clearly, so he accused the person at his deskmate and took his cell phone to another place to answer the phone.

Chen Nanpeng sat next to him with several seats. When Shang Fuhai got up, he subconsciously glanced at him more. For some reason, he always felt a special feeling in his heart, as if he had forgotten something.

After Shang Fuhai came out of the room, he found a clean corner: "Kevin, tell me."

"Boss, the matter is completed, 11 billion yuan, and it will be paid in three installments..."

Han Zhengyu told the matter in detail on the phone and finally said: "Boss, I just signed an agreement with Kang Youde and Yan Ruhua. The specific contract is scheduled to be signed again the day after tomorrow. Do you think it will be done?"

"Kevin, you did a great job, a full 1 billion less than my expected quotation of 12 billion. Very good. Then tell them, wait two more days, sign the contract on the 23rd, and get the first payment before the end of the month." Shang Fuhai said at last.

"I see!"

"Well, Kevin, you did a great job this time. I have to think about how to reward you after I go back." The generous boss Shang finally remembered this.

Of course, Han Zhengyu would not refuse these rewards, so he just politely said that. Before Shang Fuhai could reply, he quickly hung up the call, for fear that Shang Fuhai would take it seriously by taking it with him. Wouldn't that be a loss?

Why don’t you make money?

And according to the boss's opinion, he will definitely be rewarded a lot this time, so he will not feel ashamed of it.

After returning to the room, Shang Fuhai continued to drink with others. This time he felt at ease and he drank more happily.

While drinking, Shang Fuhai glanced at Zhang Yiming who was walking at the same table, Wang Qiong and Shen Nanpeng looked at him, and felt so happy that he was snatching food from a tiger's mouth!

Shang Fuhai's attitude made Zhang Yiming and Wang Qiong unable to help but look at him more. They always felt that Shang Fuhai went out to answer the phone, and after he came back, he felt that he was different. They were confused about what was different, but they couldn't say it.

At the night banquet the day before the financing, Shang Fuhai was drunk.

He basically gave up following the investment, so he didn't have to think about tomorrow's affairs. So what if he gets drunk, he has a good night's sleep, and the next day Shang Fuhai was resurrected with full blood.

After having breakfast in the hotel where he settled in, Shang Fuhai, Zhou Hang, Yu Chaohui, He Guangyuan and others went to the company together for the bus arranged by Zhang Yiming. All those who wanted to participate in this round of financing gathered there and set off for the Kaideli Hotel, which was also the hotel that was set for when shooting the short video financing.

It was in the comprehensive luxury venue on the top floor of the hotel that I used when I bought short videos for the last time. The last time Shang Fuhai was the owner and Zhang Yiming was the guest, and this time it happened to be reversed.

Zhang Yiming arrived earlier than them. After dressing up, Shang Fuhai also admitted that Lao Zhang was a little handsomer than him today.

Well! Only a little bit.

Shang Fuhai came in with Cao Yi and talked about today's financing while walking. The two of them guessed their quotations today.

Cao Yi asked: "Dong Shang, how many people are going to follow up today?"

Shang Fuhai looked around and said mysteriously: "Dr. Cao, I won't hide it from you. This time I have prepared 100 million yuan in funds. I have a lot of things to do recently. I'm using money everywhere. No matter how much I have, I can't get it out."

Upon hearing this, Cao Yi asked him directly: "Is it fake if Dong Shang really lacks money? If that's the case, I'm still well-off. Why don't we find a place to talk to each other when we finish our work today?"

I'm damn!

"Old Cao, is there water in your head? I just mean that, do you really don't understand or pretend to be confused?" Shang Fuhai complained in his stomach.

Looking at Cao Yi's joking expression, he knew that he had been fooled, so he raised his fist with a tiger face: "Old Cao, believe it or not, I really dare to beat you."

"Pai Pa"

Shang Fuhai was planning to repair Cao Yi, and Zhang Yiming, who was standing on the platform in front, clapped his hands twice, attracted all his eyes, and the speech before financing began.

Zhang Yiming is no longer as humble as he did in the previous two rounds of financing. The original daily user activity of 100 million was as follows: You had to give a discount of 70 million daily user activity. Can these two values ​​be the same? Can the value they generate the same?

This time, Shang Fuhai tried his best to talk about the various data generated by Toutiao. Zhang Yiming used heavy pen to describe the cumulative total number of users downloads, daily active users and the most important advertising revenue.

In addition, Zhang Yiming also said it well when it comes to Toutiao's future development and investment priorities.

These contents are mainly for investors who come to participate in the financing for the first time. For shareholders such as Wang Qiong, Shen Nanpeng, Shang Fuhai, Cao Yi, Yuri, etc., who were originally Toutiao, they have read it more than once, and listening to it again is nothing more than just passing the time.

After the company content promotion in the first part was over, the following response and answer sessions were followed. This time, those who were very interested in financing began to raise questions they wanted to know. Zhang Yiming and other staff members of Toutiao tried their best to give the most rigorous answers to the investors.

Sometimes when she is too busy, she will help answer some of the contents that Wang Qiong knows. Compared with Shang Fuhai, especially Cao Yi and others, Wang Qiong seems to be more qualified.

Perhaps this is one of the reasons why Zhang Yiming has a special relationship with her.

This time, D-Tian Finance took out 10% of Jinxing Financing, and the corresponding shares held by Toutiao's original shareholders must be diluted in equal proportions.

Wang Qiong originally planned to continue to follow up and use this to ensure the proportion of Toutiao shares held by Haina Asia, but in the end, for some reasons, she gave up most of the follow-up investment this round, and only symbolically increased the capital.

As for Zhang Yiming, the founder of Toutiao, he did not choose to increase his capital. As of now, he and his entrepreneurial team still hold more than 30% of the company's overall shares, and these shares are not low. Besides, they do not have so much available funds in their hands.

At this time, every financing is often over 1 billion US dollars, and it is spread to shareholders who want to increase their capital, at least tens of millions of dollars, and the more than hundreds of millions of dollars. This amount is not within the scope of Zhang Yiming and his team members.

Correspondingly, only a part of the shares can be given up.

However, Shang Fuhai's final choice confused Wang Qiong and Zhang Yiming, and he did not choose to continue to increase value. This is strange. It can be said that it is not Shang Fuhai's style at all.

During the preliminary work session for the D round, Shang Fuhai said more than once that he would keep his current shares and follow up on the investment, but now he is over?

I don’t know if it’s historical inertia that is causing trouble. Toutiao’s final quotation for the Series D financing this time was 11 billion US dollars, with a total financing of 1 billion US dollars.

During this wave of quotations, CCB International stood out and announced that it had won one-third of the financing round, spending more than US$340 million.

In addition, under the leadership of Shen Nanpeng, Sequoia China also demonstrated its "wolf-like" side, investing 300 million to acquire 2.9% of its shares.

Yuri and Cao Yi followed up with the remaining 3.7% of the shares, but there was no more, but they kept their previous shares unchanged. The two parts combined together were 1% and 0.3%, which was not too much.

Dehua Investment, also a shareholder, also gave up this round of follow-up investment and diluted its shares in proportion. Correspondingly, this part must be deducted from the transactions between Shang Fuhai and Dehua Investment.

In addition, Alibaba Capital and Hillhouse Capital were added in this round. Zhou Hang and Ma Zheng showed extraordinary decisiveness at critical moments, and they shared the remaining 2.4% of the financing share.

At this point, Toutiao's Series D financing ended. This time, Toutiao received a total of US$1 billion in financing. After this round of financing, Toutiao officially announced to the market that its valuation exceeded US$11 billion.

After this round of financing, except for the newly-funded CSRC International, which holds 3.4% of the shares, Alibaba Capital and Hillhouse Capital each hold 1.2% of the shares, Yuri of DST and Cao Yi of Source Code Capital each hold 10.3% and 3.56% of the shares.

Sequoia China originally held % of Toutiao's shares. After this round of financing, Sequoia increased its capital and invested a part of it, and held a total of % of Toutiao's shares.

Next, Shang Fuhai originally held 6.59 shares, but after being diluted this time, Shang Fuhai did not choose to follow up, but he acquired the shares they held from Dehua Investment. With this part, Shang Fuhai finally held 8.45% of Toutiao's shares in the name of Haifei Investment...

Haina Asia did not choose to follow up this time. After diluting its shares, it still owned % of the shares.
Chapter completed!