My Return to Life

When I walked out of Fudan, the sky darkened and it was already evening.

Fang Nian drove to the Bund.

Wen Ye, who was already very busy, was not allowed to be the driver.

The main reason is that she can't be used.

When high-rise buildings such as the Oriental Pearl Tower light up their light strips, the Phaeton slowly stops.

Soon, Fang Nian walked into a certain restaurant with a wooden plaque hanging on it.

Under the guidance of the waiter, go straight to the window booth on the second floor.

Seeing Fang Nian, Guan Qiuhe joked, "It's the first time I've seen you be so active."

Hearing this, Fang Nian beeped a few words in his heart: "If you knew that Lei Xie would register and establish Xiaomi in China tomorrow, and Wang Xing would launch Meituan the day after tomorrow;

In particular, Meituan, whose market value in the Hong Kong stock market will exceed 100 billion US dollars in 2020, once reached a market value of trillions of Hong Kong dollars. You will know why I am so active. "

He said indifferently: "Time waits for no one. It would be a pity if the daylilies that are not cold happen to be missed."

Guan Qiuhe smiled: "Okay, okay."

"Let's eat first." Fang Nian said.

"..."

During the meal, we chatted a few words casually.

The main reason is that Guan Qiuhe cared about the situation of Fudan Frontier Club.

Ever since she was invited to be a part-time business manager of Frontier Company, Guan Qiuhe has paid extra attention to the development of Frontier Company.

Wen Ye naturally wouldn't hide it.

So Guan Qiuhe also knew what would happen in Fudan this afternoon.

Fang Nian only said: "Although it is said that the superficial matters are left to Wen Mi, it is still a bit nerve-wracking to know everything. This is why I always want to be lazy."

"..."

When it was almost time to eat, Guan Qiuhe put down his chopsticks first, wiped his mouth, looked at Fang Nian, and asked calmly.

"The legal affairs you mentioned a few days ago, do you have any suggestions?"

Fang Nian glanced at Guan Qiuhe, swallowed the food in his mouth, and said in confusion, "Didn't you propose to set up a legal department at the company expansion meeting yesterday?"

"I want to know if you have any better suggestions." Guan Qiuhe repeated.

Fang Nian frowned slightly, and realized: "Are you afraid of being bitten by a snake again?"

Guan Qiuhe didn't make a sound. Such a major job occupation in the finance department of the "Fun Fun" naturally cast a shadow on her.

This time, he met a genius like Liu Xi, what if he didn't?

If the hands and feet were more hurried, Liu Xi wouldn't have noticed it?

Seeing this, Fang Nian calmly said: "Prepare with multiple hands, the establishment of a legal department is undoubtedly necessary;

If you are afraid of problems, you can find a way to invite a highly respected doctor of law or professor to serve as the company's honorary legal advisor;

On the other hand, establish a cooperative relationship with a professional law firm, if all of this goes wrong, then..."

Facing the serious eyes of Guan Qiuhejing and others, Fang Nian said indifferently: "Go and study law."

Before Guan Qiuhe could speak, Fang Nian suddenly sighed and changed the subject.

"I always like to prepare with both hands, but I didn't expect that when it was my turn to do my career, I was not ready for this and I was not ready for that."

Guan Qiuhe didn't bother about Fang Nian's further study of law, and said with a smile: "To do a career is to cross the river by feeling the stones and getting ready. It's not a career, it's a job."

If we insist on going on, Frontier Company can be regarded as a product that was established with a slap in the face last year.

But the frontier company is an empty shell, and there is no problem in extending the framework on this empty shell.

The problem lies in Fang Nian's sudden thought, intending to rely on cutting-edge project research to obtain a third way out, and then the idea of ​​investing in the future came into being, as well as his actions.

But this is also unfamiliar to Fang Nian.

And without much preparation.

Especially the preparation of capital.

But then again, Fang Nian is now making multiple preparations.

Planning cutting-edge projects as output channels, and adding new cutting-edge angel investments, is quite a lot...

…………

Guan Qiuhe took a sip of water, and calmly said: "I thought about the few deals you mentioned yesterday;

Frontier angel investors will take over the shares invested by "Fun Fun" investment,

This matter is better resolved. "

"Just switch from left to right."

Fang Nian understood: "You mean to use my shares in 'Greed for Fun' to replace it?"

"This operation is not a problem as long as you and I agree." Guan Qiuhe said as a matter of course.

Fang Nian thought for a while, and then asked: "Then how do you ensure your own income?"

"Simple, we trade according to the purchase price and the company's assets at that time, and convert the value of the investment shares into corresponding shares, and then convert them into the shares you need to sell according to our respective share ratios."

Guan Qiuhe said a long string of words that seemed like tongue twisters.

Then he gave an exact number: "I calculated it with the simplest algorithm.

The company's assets are priced at 400 million yuan, and the three investment shares are priced at 70 million yuan, which is equal to 17.5% of the assets. After subtracting your shareholding ratio, you can sell me 7% of the shares. "

As he said that, Guan Qiuhe looked at Fang Nian, and said casually: "However, in this way, valuation and future value are not considered at all."

As a person with strong mathematical calculation ability, Fang Nian understood it in the blink of an eye, and said.

"It's still the same sentence, how do you ensure your income? According to the current development and analysis, the value appreciation of these investment shares will far exceed the appreciation of the company's valuation."

According to Fang Nian's known situation, two of the three investment shares worth 70 million are currently counted as:

The value of the shares of Mojang and Riot will increase from the current value of 60 million to more than 1.1 billion yuan in a few years.

A full appreciation of 18 times.

In fact, the most surprising thing is the 21% stake in South Korea's Eyedentity.

It will be worth about RMB 100 million4 soon.

Because in the original history, Surplus University acquired Eyedentity for US$95 million in the second quarter of this year.

This is also something that Fang Nian remembered recently. Last year, when he stabbed the knife with his backhand, he did not expect such a harvest.

In just over half a year, the value has increased by 14 times, which is very exciting.

Therefore, even if "Greed for fun" can quickly become a company worth tens of billions of yuan in a few years, 7% of the shares are only worth 700 million yuan, a difference of nearly 600 million yuan.

If Fang Nian didn't say this, Guan Qiuhe's 600 million yuan would be cheated out of the hands, and it wasn't a valuation, it was real money.

In other words, Guan Qiuheguan is always in——

He took the initiative to sell himself and counted the money for the buyer.

is active.

It's not that they were sold and helped count the money.

Seeing Fang Nian's serious look, Guan Qiuhe showed confusion: "Something is wrong."

"According to your plan for 'greedy fun', the medium and long-term value is 10 billion, and it has been turned over ten times. Do you still think I have no income?"

Fang Nian didn't bother to dwell on this issue, and said directly: "You personally invested 28 million to purchase 40% of the future income from these three shares."

Guan Qiuhe's eyelids twitched: "Why do I feel that you are doing charity?"

"Don't worry about this." Fang Nian waved his hand, "I'm too lazy to cheat you, and I hope you can give full play to your talent and help frontier angels earn money."

No matter how you calculate it, Fang Nian will lose some money.

Because the direction was given by Fang Nian, but the negotiation was carried out by Guan Qiuhe, and each had their own contributions.

Guan Qiuhe pondered for a while: "Well, I will pay 28 million, and you will only transfer 4% of the shares to me."

"By the way, use a simple algorithm to introduce the Pre-A round investment of frontier angels:

After excluding this part of the assets, the price of "Great Fun" is 372 million, and Frontier invested 28 million, accounting for 7% of the shares. Our shares are diluted in proportion.

After the investment was over, the two of us used 10% of the total equity as an equity pool to attract round A investment.

After friendly negotiation, the valuation of "Greedy Fun" is 550 million. You exchange 5.08% of the shares for 28 million of the financing, and the shares are put into the equity pool. "

While listening to Guan Qiuhe, Fang Nian mentally calculated the shares after the whole process:

First of all, after Pre-A, Fang Nian still has a % stake, while Guan Qiuhe's stake has become %.

Finally:

Fang Nian: 44%, Guan Qiuhe: 38.5%, Frontier Angel: 7%, Equity Pool: 10%;

And, the 0.5% in the Ice Frog's hand has not changed during this process.

During this process, Guan Qiuhe lost 1% of his shares and paid 28 million in cash.

Fang Nian apparently lost 16% of his shares.

In fact, it used 9% of the shares of "Greedy Fun" to cash out 28 million yuan and inject it into frontier angels;

And take away 60% of the final proceeds from investment shares worth 70 million.

In the process of turning from left to right, it actually pushed up the company's valuation.

With the rounding algorithm, everyone is not at a loss, and everyone is happy.

While doing calculations, Fang Nian's eyes widened, and he called out to be an expert in his heart.

"You are really born to eat business negotiations. The whole transaction has revitalized all the things I have to do now."

Hearing this, Guan Qiuhe said indifferently: "It's nothing more than a story of a tourist going to a small town to stay in a hotel with 100 yuan, and finally checking out dissatisfied. In the process, the debt of the original store in the small town was cleared."

"It's just that I changed the story and transferred the money to you, allowing you to temporarily solve the company's shortage of funds."

Fang Nian thought it was right, looked at Guan Qiuhe and said with a smile, "So, you have also settled the financing exit mechanism of 'Greed for Fun'?"

Guan Qiuhe nodded: "The draft is finalized, you should read it first, and finally ask for legal support."

As he spoke, he took out a few pieces of paper from his bag and handed them to Fang Nian.

Fang Nian glanced twice: "Yes."

In fact, it stipulated the shortest period for financing exit, and Guan Qiuhe limited this period to the next round after the current round of investment.

For example, frontier angels are Pre-A, need to go through the A round, and can only exit after the B round of financing is successful.

In addition, of course, it also stipulates different situations of the exit mechanism, such as whether the company is short of money and so on.

In short, through the simple communication between Guan Qiuhe and Fang Nian, many problems were solved, and the interests of both parties were basically guaranteed.

This set of cyclic operations is very complicated to say, and the specific process will obviously be more complicated, but these are issues that professionals should consider.

It can be regarded as a multilateral acquisition and cooperation case.

Fang Nian handed back the draft to Guan Qiuhe, his expression suddenly became playful.

"Then here comes the question, Sister He, where did you get your personal 28 million?"

Then he added: "And the time is very tight, we must quickly push up the valuation of 'greedy fun';

Launch the game platform at the right time and introduce A-round financing, so as to vigorously develop the game platform to achieve a greater degree of win-win situation, and prevent the platform from being targeted and dying at the beginning of its launch. "

After the words fell, Fang Nian found that Guan Qiuhe was looking at him with a half-smile.

Seeing this, Fang Nian spread his hands, "I don't have any money."

"If I, or the frontier company, have money, we don't need to play this trick of left-handed and right-handed. It's just that we sign a sharing contract in private."

No matter how it is converted, 28 million must be available.

It's not about being 'crazy for fun'.

But the frontier is missing.

Anyway, in the final analysis, we must abide by four words: public and private.

Guan Qiuhe said calmly, "I don't have enough cash, and I can't get a loan, but I can complete this transaction through borrowing."

"Or there is another form."

Fang Nian waits for the next article, Guan Qiuhe tonight is very shrewd.

Sure enough, when it comes to their own talent points, they are directly different from each other.

Because this series of processes is not a business negotiation?

Isn't it Fang Nian's most anticipated ability?

Guan Qiuhe continued unhurriedly: "It's very simple, 'Greed for fun' guarantees the frontier company and borrows tens of millions from the bank, and the frontier company uses this money to invest in 'Great for fun'.

I personally made an IOU of 28 million to the frontier angel investment, and the 28 million was deducted when the final profit was settled. "

Listening to it, Fang Nian somehow felt a little familiar.

In his memory, something similar seemed to have happened.

It seems to be an operation when a large company packages and sells assets, and helps the buyer borrow tens of billions from the designated bank to complete the transaction.

Thinking about it, Fang Nian smacked his lips: "Sister He, your work is completely technical, you should be rewarded!"

This left-handed and right-handed + guaranteed lending + empty-glove white wolf is simply a classic operation.

The money is still in circulation, but no one has touched it, and the eldest brother, not to mention the second brother, is all empty-handed.

Guan Qiuhe rolled her eyes, not wanting to talk to Fang Nian very much.

"In short, the process is like this, everything can be left to professionals."

Fang Nian nodded without hesitation: "Indeed."

Guan Qiuhe looked at Fang Nian and asked, "Is there anything else?"

"Yes." Fang Nian said without hesitation, "Since these few deals between Frontier and 'Greed for Fun' are over, the shortage of funds in Frontier has also been resolved.

I wondered, did Mr. Guan rush to work part-time? "

Guan Qiuhe looked at Fang Nian with raised eyebrows, and laughed: "You are not inviting me to work part-time, you are treating me like a cow!"

Then he said: "I'm just helping you solve the shortage of funds!"

Thinking about it carefully, Fang Nian was also a little embarrassed, and finally blurted out with a smile: "Those who can do more work."

There is a bit of gloating in the laughter.

Then Fang Nian looked at Guan Qiuhe, looked up and down: "In the past two days, pay more attention to the gossip, don't let the opportunity slip away."

"Like Lei Xing and Wang Xing, if they want to start a business, the capital invested in the seed round may not be too large, and Frontier should be able to afford it."

Hearing this, Guan Qiuhe nodded: "Don't worry, I will pay attention to the people you mentioned to me."

"You don't have to worry too much about these things."

Before leaving, Guan Qiuhe gritted his teeth: "Mr. Fang, you must have been the housekeeper of a big landlord's house in your previous life, the kind who specializes in ordering people around!"

Fang Nian was amused: "I'm still a housekeeper, you're just treating yourself like a maid."

Guan Qiuhe: "!!!"

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PS: This set of financing and share swap operations does not involve complicated operations, but I have read many cases.