Chapter 65： [Unicorn Company]

The result was not the same. The B round of financing was negotiated in less than an hour, and the signing ceremony was next.

傍 In the evening of local time, the signing ceremony of the Series B financing was completed under the witness of several North American mainstream media. Luo Sheng completed a group photo with a group of investors and disclosed it to the media.

In this Series B financing, Bluestar Technology has a pre-investment valuation of US $ 2.925 billion and a post-financing valuation of US $ 3.25 billion (¥ 27 billion). The company transferred 10% of its equity financing to US $ 325 million (¥ 2.7 billion).

Luo Sheng became famous on Wall Street the same day. On the next day, the Wall Street Journal made a comprehensive report on the financing with a front page headline, including Bloomberg, The New York Times, and The Guardian. One after another reported.

As soon as the news came out, many insiders in the industry were shocked. This round of financing is a fair myth that China Internet companies can raise funds. Many Internet companies can't even get so much money for an IPO.

This has also made Bluestar Technology the darling of the capital world, attracting countless people to study how to capture VC and make it so popular.

After completing the B round of financing, Bluestar Technology became the first unicorn-level Internet technology company after the burst of the Internet bubble.

The so-called unicorn company is a company that was valued at more than $ 1 billion before the startup was listed, and Blue Star Technology was valued at $ 3.25 billion after the Series B financing.

Compared with the RMB 5 billion round of round A financing stage, the valuation has soared more than 5 times in just three months.

A startup company that has been established for less than a year has frequently carried out four rounds of financing, and exaggerated time and time again. Even many people in the North American technology industry think Wall Street is crazy?

Why?

Well, the development momentum of Bluestar Technology is really unstoppable. Why can it be valued at 3.25 billion US dollars now?

Even made many people have an illusion, as if returning to the crazy era of the Internet bubble has not yet burst, Blue Star Technology's B-round financing myth may appear in that era.

But now is the era after the burst of the Internet bubble.

Wall Street is really crazy?

Why do you throw money so crazy on a company that has raised funds for three consecutive rounds and has not yet created a profit?

However, the fact that Blue Star Technology has raised $ 325 million in round B financing cannot be changed, and the list of investors also shocked countless entrepreneurs.

Softbank Capital, Sequoia Capital, Goldman Sachs Capital, JP Morgan Chase, Venture Capital Fund, IDG, and Huajin Securities, any single one can come up with several treasures, but at the same time endorsed for a company.

No wonder Luo Sheng and Blue Star Technology will make headlines in the world. It is not surprising to read these lists.

This round of B financing is still led by Goldman Sachs. Huajin Securities, Morgan, and Sequoia are the new capitals. SoftBank, Venture Capital, Tengxun and other investment funds vary.

After completing the B round of financing, Bluestar's equity structure is:

Option pool reservation: 11.05%

Luo Luosheng: 57.6%

Tengxun: 9.45%

Goldman Sachs: 6.148%

SoftBank: 5.26%

Venture Capital: 3.51%

IDG: 3.13%

Morgan: 1%

Gao Huajin Securities: 1%

Sequoia: 1%

Other: 0.852%

This round of financing Blue Star Technology transferred 10% of the equity, which was shared by the major VC capitals and raised 325 million US dollars in proportion to the capital increase. This can be done so quickly, also thanks to Luo Sheng's early greetings to Meng Qiu, and Goldman Sachs Capital also conducted an advance third-party audit of the operation of Bluestar Technology.

After completing the B round of financing, Goldman Sachs Capital asked for a place in the company's board of directors. Luo Sheng naturally agreed, and then Huajin Securities, Morgan, and Sequoia also wanted a place, but Luo Sheng refused decisively.

If given, external investment shareholders will have 8 seats on the board, which means that Luo Sheng will have to expand the seat to 17 directors if he wants to control the board, VC will control 8 seats, and he will need to own 9 seats to control the board. .

Although Luo Sheng is eligible for more than half of the nomination power, the number of board members is as small as possible.

Goldman Sachs is supposed to get a director seat. It has led the vote twice in a row, and it can be described as a high profile. According to the shareholders agreement, Luo Sheng has more than half of the nomination rights. Therefore, the board of Bluestar Technology has 9 seats. Expanded to 11 seats, of which Luo Sheng has the right to nominate six director seats.

In addition, the three newly-entered investment institutions no longer need director seats, and can only retreat to supervisor seats. Luo Sheng agreed to this request.

With the successful completion of the B round of financing, Luo Sheng's Wall Street trip came to an end. He continued to stay in Manhattan for two days, and then flew to the California Bay Area on the third day. The schedule was quite tight.

Uh ...

Before Luo Sheng arrived in California, his temporary assistant had arranged a place for him to rest in the San Francisco Bay Area. A luxury villa in the rich area was of course not bought but rented and not Luo Sheng's personal investment will be included in the company's financial expenses.

Mainly, Lao Mei's freedom has gone too far. Luo Sheng will stay here for a while, and he will not pay less attention to security issues.

After getting off the plane, Luo Sheng left the terminal, and a luxury car had been waiting for a long time.

Carrying his special car, he drove all the way to the rich area of ​​Nanwan. The client had already arranged Luo Sheng's temporary residence villa three days ago, and he could stay at any time.

This villa is called BodeOne. It is located on the edge of the mountainside and has a great view of the landscape. It has a large area of ​​929 square meters and the actual price is 20 million US dollars. The architect used stainless steel, glass, stone and other elements to make the building facade It is very modern and uses the colors and contrasts of the artwork to produce a dramatic effect.

There is a smooth sense of space at the entrance. The layout of the entire mansion is specially designed to meet the large-scale entertainment functions, forming an uninterrupted connection between indoor and outdoor.

Entertainment spaces, living rooms, lounges, bars, restaurants, kitchens and outdoor gazebo lawns are all connected in an open design in the same space.

There is also a very large glass floor-to-ceiling window in the living room, outside the window is a curved view.

In the evening, Luo Sheng sat on the chair next to the large glass floor-to-ceiling window in the living room, and sat comfortably with Erlang's legs, and on his thigh was a laptop dedicated for work. He was staring at the screen constantly, and then stopped and stopped. Thinking.

In addition to seeking Series B financing for this trip to North America, another important issue is to establish a brand new website, a news community website, because the Paste Bar project some time ago made Luo Sheng realize that there are no similar elements in overseas regions.

That's Reddit, known as the "North American Post Bar." It was created in 2005, and today is January 2, 2004, Eastern Time.

Don't think about it, Luo Sheng must be decisive and decisive, and go his own way, leaving others with nowhere else to go.

In the last life of Luo Sheng, this super website with global traffic that can reach the fourth place in the world will never let go.

Reddit is a bit like the domestic Tianya community. It is lively, interesting, and coquettish. Users discuss topics of interest through one by one. Luo Sheng remembers the last version of Reddit. Some people from the small version of 3 people to the super-large 20 million people. Version, here is everything.

Not only a little like Tianya community, but also a mode like Yunge Post Bar.

But what's different from Tianya Community or Yunge Post Bar is that Reddit uses an anonymous mechanism. In other words, this website is basically impossible to appear in the country, and it must be isolated outside the wall.

Even so, the global traffic of the Reddit website can rush to the top four in the world, which shows the popularity of this website in the world.

Reddit's anonymity mechanism has also set a tone for this website. On the one hand, it will become a [open and honest conversation place], on the other hand, it also means that it is all muddy, and one of the strongest fighting sites of overseas network jets. Here is [The Sewer of the Internet ~ www.novelhall.com ~ Without a strong heart, visiting the Reddit Forum website will definitely doubt life.

Luo Sheng also knows that Reddit in the original world has nearly 800 million users worldwide, and 250 million monthly users, but it is difficult to achieve profitability. Reddit has super rich traffic. As a community website, there is no other way to make money-placing ad.

But the reason why Reddit cannot make money is precisely the anonymity mechanism that allows it to blaze, users can reveal their identity in the community, but the vast majority of users like anonymity, there is no doubt.

However, it is impossible to design a set of accurate ad positioning algorithms like the real-name BlueSpace website. There are many reasons, such as bad reviews due to the sharing of illegal content, and so on, leading advertisers to Reddit. Lack of interest.

But for Luo Sheng, this is not important, even if Reddit has been losing money in the future, it does not matter, because there is a theory on the Internet-wool comes out of dogs.

Luo Sheng is not afraid that Reddit cannot make money by itself. The fear is that the website traffic is not enough. The Internet industry must be the industry where traffic is king. As long as Reddit ’s super-strong traffic is there, there are ways to indirectly monetize, such as diverting to BlueSpace or other Association mechanism, which indirectly increased BlueSpace's advertising revenue.

This is the wool coming out of dogs. Of course, the premise is that the sheep is yours, and the dogs must be yours. If the dogs are of others, it is to help others make wedding dresses.

What Luo Luosheng wants to create is the "Blue Star Technology Family Bucket". As long as the traffic flows inside the "Family Bucket", the final profit is harvested by himself.

Uh ...

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