yournovel Chapter 136 Sequoia Capital rushes to invest in Momo, Geng Zhi deeply regrets it.
Chapter 136 Sequoia Capital rushes to invest in Momo, Geng Zhi deeply regrets it.
Chapter 136 Sequoia Capital rushes to vote for Momo, Geng Zhi deeply regrets it (Seeking monthly votes) (8k)
At 9:40 a.m., at the China World Trade Center in Beijing, the headquarters of Sequoia Capital.
Outside the floor-to-ceiling windows on the 36th floor, the CBD skyline is faintly visible in the spring mist.
Founding and Managing Partner Shen Nanpeng leaned back in his chair, looking at the young man in front of him who wore glasses and spoke in a calm and unhurried manner.
This was their second meeting, but their first formal discussion. They had been talking for forty-three minutes.
Shen Nanpeng put down his coffee cup and leaned forward slightly: "Wang Xing, I have two last questions for you."
"Mr. Shen, please speak," Wang Xing said calmly, his eyes behind his glasses showing no emotion.
"When you were running Xiaonei.com, it got acquired. When you were running HaiNei.com, it failed. When you were running Fanfou, it was shut down. Three startups, three failures. Now you're running Meituan, what makes you think you can succeed this time?"
This is a very pointed question, even somewhat cruel. Most people would probably feel embarrassed or rush to defend themselves.
But Wang Xing's expression didn't change at all, as if he had asked himself this question countless times.
"Mr. Shen, you're right." Wang Xing nodded. "I did fail three times. But it was these three failures that taught me a lesson."
He paused, then looked calmly at Shen Nanpeng: "Starting a business isn't about who runs the fastest, it's about who survives the longest."
"Xiaonei.com was sold early because I didn't understand capital at the time and thought that starting a business was just about making a product. HaiNei.com failed because its product was too advanced, and domestic users couldn't understand the value of SNS. Fanfou.com was shut down due to force majeure."
Wang Xing's voice remained steady throughout, as if he were telling someone else's story.
"But—" he changed the subject, "I survived every failure. The team is still there, and all the core members are still with us. The experience is still there, and I know which pitfalls I can't repeat. My understanding of the internet is still there, and it's clearer than ever before."
Shen Nanpeng nodded slightly, paused for a few seconds, and continued, "So, what do you think is your greatest strength?"
"Patience," Wang Xing answered without hesitation. "I know how long it takes to accomplish something. I'm not in a hurry."
Shen Nanpeng was silent for a few seconds, then laughed: "Wang Xing, do you know? You are the only entrepreneur I've met in the past year who makes me feel that [this person has stumbled, but won't die from it].
He stood up, walked to the window, glanced outside twice, and then turned back to Wang Xing: "I'm optimistic about the Meituan project. Not because of its business model, but because of your patience in doing this. There are already more than a dozen companies in the group-buying sector, and there may be dozens or even hundreds more in the future."
"But the one who survives will be the most resilient." He held out his hand. "I think you have that potential."
Wang Xing was stunned for a moment, then suddenly stood up, grasped Shen Nanpeng's hands with both, and said with barely suppressed excitement, "Thank you, President Shen! Thank you!"
"No need to thank me." Shen Nanpeng waved his hand. "It's your own experience that made me willing to take this gamble."
"I will have the team conduct due diligence as soon as possible. If there are no problems, Sequoia Capital can lead the investment for your $1200 million funding round."
"Understood!" Wang Xing nodded vigorously. "Meituan will definitely live up to President Shen's expectations!"
Shen Nanpeng saw Wang Xing to the door, and then said one last thing: "Wang Xing, remember, the environment in China is different from that abroad. Group buying is a long-term battle, so don't rush to burn money. First, build up your team."
"I understand! Mr. Shen, please wait a moment." Wang Xing politely took his leave and entered the elevator.
The moment the elevator doors closed, he clenched his fist and silently clenched it.
Shen Nanpeng walked back to his desk, picked up the completely cold coffee, took two sips, and glanced at the time—10:40.
A few minutes later, the office door was pushed open, and partner Yang Dong walked in.
"Neil, you finished talking with Wang Xing so quickly?" Yang Dong was slightly surprised. "How did the negotiations with Meituan go?"
"Not bad." Shen Nanpeng leaned back in his chair. "Wang Xing is a very steady person. Three failures didn't break him; instead, they made him more clear-headed."
The group-buying industry needs this kind of person.
"So, Sequoia Capital is leading this round of investment?" Yang Dong asked.
"Yes. Let the team do the due diligence as soon as possible, and sign it if there are no problems," Shen Nanpeng said.
"How much should we invest?" Yang Dong asked again.
"1200 million US dollars."
Yang Dong was about to jot things down on the schedule when he suddenly stopped, looked up, and asked incredulously, "How much?"
"1200 million US dollars."
"Neil," Yang Dong put down his pen, "the group-buying model is just beginning in China. Groupon has succeeded in the US, but frankly, most of the entrepreneurs in China are still just copying. Is $1200 million too much for us?"
"The track has already been successfully validated in America; now it's all about the final showdown," Shen Nanpeng said calmly. "I believe in him."
Yang Dong opened his mouth, but ultimately said nothing, and crossed out an item on his schedule: "Okay. The next meeting is at 3 PM. Uh, who's next?"
"He's straightforward."
"Straightforward?" Shen Nanpeng turned around, frowning slightly, as he had no recollection of the name.
"That straightforward guy was introduced by Vice Dean Gou from Antai College of Economics and Management at Shanghai Jiao Tong University," Yang Dong reminded him. "He works on a social networking product called Momo. Our appointment is at 3 PM sharp."
"Oh—" Shen Nanpeng remembered, "Is that the straightforward guy who single-handedly challenged the three giants of online dating, who was first called the industry's 'alum' by netizens," and now the public opinion has reversed?
"Yes, that's him."
"What's your opinion on the incident involving the outspoken public opinion?" Shen Nanpeng walked back to his desk and sat down again.
Yang Dong closed the schedule and said definitively, "Geng Zhi was definitely wronged; public opinion was manipulated by the PR team of the three giants."
The office fell silent for seven or eight seconds.
Shen Nanpeng shook his head and laughed: "We just got rid of a stable one, and now another crazy one has arrived."
He picked up the internal phone and called his assistant: "Get me another cup of coffee to clear my head."
"Neil, you can only have half an hour at most for your meeting with Geng Zhi," Yang Dong reminded him. "You have to catch a flight to Hong Kong this afternoon and you must leave at 3:30."
"Okay." Shen Nanpeng nodded. "This meeting is to save Professor Gou's face, so it should be over soon."
Meanwhile, at the Summer Palace, at the Jingminglou Wharf.
The early spring wind still carried a hint of chill, causing ripples to spread across Kunming Lake.
Geng Zhi stood on the dock, looking at Longevity Hill in the distance, where the golden roof of the Fragrant Buddha Pavilion glittered in the sunlight.
Gu Wanning stood beside him, a corner of her scarf fluttering in the wind, gently brushing against his arm.
Lü Sifeng and Sun Xiaowen followed behind, taking photos of the Seventeen-Arch Bridge.
"Boss," Lü Siyu jogged over, holding up her phone, "Mr. Liu's assistant at Morningside Capital said he'd get back to us this morning, but it's already 11 o'clock and there's still no word. I feel like he doesn't really care about us at all?"
Geng Zhi withdrew his gaze and smiled, "That's possible. Maybe he's really too busy, or maybe he simply doesn't want to talk to us."
"Even Professor Gou's face, President Liu won't give him any face?" Lu Siyu asked, puzzled.
"Everyone has their own difficulties," Geng Zhi said, watching the boats gliding across the lake. "It's a favor if they see us, and it's their right not to see us either; there's nothing wrong with that."
Hearing this, Sun Xiaowen leaned closer and said, "Boss, you really see things clearly!"
"Let's not talk about work anymore." Geng Zhi waved his hand. "We've come all this way, let's enjoy the scenery."
The group stopped talking about work and strolled slowly along the lake shore.
Gu Wanning would occasionally point to distant buildings and explain their origins to Geng Zhi—she seemed very familiar with the Summer Palace, able to recount the stories behind each scene.
Just as they were approaching the dock, Geng Zhi's phone suddenly rang.
He picked it up and saw that it was a call from his mother, Yao Shufen.
My mom doesn't usually call during the day—she always says she's afraid of interfering with his work. If she calls at this time, it must be something.
Geng Zhi answered the call without hesitation.
"mom."
"So straightforward!" Yao Shufen's cheerful voice came through the receiver. "What are you doing?"
"I'm on a business trip in Beijing." Geng Zhi took a few steps to the side, avoiding the crowd. "Is there something you need, Mom?"
"Oh, no, it's nothing." Yao Shufen paused for a moment. "I hope I'm not taking up your time?"
"It won't take up your time." Geng Zhi glanced at Gu Wan Ning not far away. "I'm strolling around the Summer Palace with my friends. Just let me know if you need anything."
"Oh dear, at the Summer Palace?" Yao Shufen's voice was noticeably higher. "Did you bring Wan Ning with you?"
"Yes, Wan Ning is with them too."
As soon as he finished speaking, Geng Zhi felt three pairs of eyes shooting towards him at once.
The boss and his wife have already met each other's parents so quickly?
Lu Sifeng, Sun Xiaowen, and Lu Siyu's eyes darted back and forth between Geng Zhi and Gu Wanning, their faces full of gossip.
Sun Xiaowen immediately looked down at her phone, opened QQ and sent a message to Yang Mingxia, wanting to tell her the latest gossip as soon as possible. "Then let Wan Ning answer the phone," Yao Shufen said.
Geng Zhi paused for a moment, then exclaimed, "Mom—!"
"What? Is that not allowed?" Yao Shufen's tone was self-righteous. "What's wrong with me saying a few words to my future daughter-in-law?"
Helpless, Geng Zhi could only walk over to Gu Wan Ning and hand her the phone: "My mom wants to talk to you."
Gu Wanning looked up, a hint of surprise flashing across her face, but she quickly regained her composure. She took the phone, her voice gentle: "Hello, Aunt Yao."
"Wan Ning—" Yao Shufen's voice came through the receiver, loud enough for Geng Zhi beside her to hear, "Did you have fun at the Summer Palace?"
"Happy, Auntie. The Summer Palace is beautiful."
Two minutes later, Gu Wanning finally returned the phone to Geng Zhi.
After Yao Shufen finished talking with Gu Wanning, she finally brought up the real reason for the phone call she made today.
"Your Uncle Wang Kai from Shanxi Province, along with his great-uncle and great-aunt, came to our house," Yao Shufen said. "Your Uncle Wang Kai must have made a lot of money; he gave me and your dad gold bracelets and gold rings, and even bought your dad Moutai. It's making me a little worried; I don't know how to reciprocate."
Geng Zhi chuckled inwardly—wasn't all that money given by your son?
"If I don't know how to reply, then I won't reply," he said.
"How can that be!" Yao Shufen exclaimed anxiously. "That's not proper etiquette! We in Shandong Province are very particular about this. People will say we're ignorant."
"Mom, we say this in Shandong Province, but not in Shanxi Province," Geng Zhi advised. "You don't need to worry about it."
No, no.
Yao Shufen was very stubborn: "Can you buy me something in Shanghai? We need to send it back."
"Oh, by the way, your Uncle Wang Kai also said he got some tickets to Hong Kong for only 500 yuan per person, and he wants your dad and me to go. Me—"
We're still struggling; we've reached a point where we understand nothing, and can't even speak properly.
"Don't overthink it!" Geng Zhi interrupted her directly, "Just go!"
"But----"
"What's wrong? Are Auntie and the others going to Hong Kong?" Gu Wanning suddenly interjected.
"Yes, there are opportunities for individual tourists to visit Hong Kong during the Qingming Festival, but they are worried about not being familiar with the area and dare not go." Geng Zhi spread his hands.
"I'll be going to Hong Kong those days anyway, I can show them around," Gu Wanning volunteered.
"Really?" He looked at her directly. "Won't it interfere with your work?"
Gu Wanning shook her head: "No. I know Hong Kong well, I go there several times every year."
Geng Zhi returned to the phone: "Mom, Wan Ning is going to Hong Kong those few days too. She said she could show you around."
"Really?" Yao Shufen's voice instantly filled with surprise. "That's wonderful! Wan Ning is such a good girl—"
After chatting for a few more minutes, Yao Shufen reluctantly hung up the phone.
As the group walked toward the north gate, a voice suddenly rang out from behind them.
"Boss Geng!"
Geng Zhi turned around and saw Zhang Xuhao, Kang Jia, and Wang Yuan. He quickly waved to greet the three of them.
"Boss Geng, have you come to the capital for tourism?" Zhang Xuhao said with a smile.
"I'm here on a business trip, taking a short vacation in between," he said straightforwardly. "What about you guys?"
"We're here in Beijing for research," Wang Yuan interjected, a smug look on his face. "Ele.me is preparing to expand into universities in Beijing!"
Geng Zhi's heart sank slightly.
"Oh? So fast!" He remained expressionless.
"Yes! We're here to do some market research in advance. As soon as the Pre-A round of financing arrives, we'll immediately launch in Beijing," Konka added.
Geng Zhi felt a pang in his heart—he hadn't saved enough money in Arctic Capital yet.
Congratulations!
Just as he was about to say "See you later," he heard Lü Sifeng ask curiously, "How long will it take for the funds you raised to arrive?"
"Arctic Capital originally said it would be in late March," Zhang Xuhao's smile faded slightly, "but now there's still no movement, and we're starting to get uncertain too."
He paused, then continued, "We're all a little worried that the other party might back out in the end."
Upon hearing this, Gu Wanning, who was standing next to her, raised an eyebrow slightly. She recalled how stingy Arctic Capital had been when recruiting Li Dongping, and couldn't help but feel worried for Ele.me.
Feeling a little guilty, Geng Zhi didn't want to talk about the topic anymore. After a brief chat, he hurriedly said goodbye to Zhang Xuhao and the others.
At 2:55 p.m., Geng Zhi led Gu Wanning, Lü Siyu, Lü Sifeng, and Sun Xiaowen to Building 3 of the China World Trade Center.
The elevator stopped on the 36th floor, and the moment the doors opened, Geng Zhi sensed a different kind of aura.
Sequoia Capital's office is larger and more spacious than those of Xu Xiaoping and Zhu Xiaohu. The words "Sequoia Capital" are simply and powerfully displayed on the reception wall, without any unnecessary decoration. Through the floor-to-ceiling windows, the entire CBD is visible.
"Mr. Geng, please have a seat," the assistant said with a smile. "Mr. Shen will be here shortly."
"OK, thanks."
The five of them sat down in the rest area. The sofa was made of genuine leather and was very soft, but Geng Zhi inexplicably felt that it was a bit hard—perhaps it was just psychological.
Five minutes later, the meeting room door was pushed open.
Shen Nanpeng, dressed in a dark gray Tang suit, walked in with his partner Yang Dong.
The five straightforward men immediately stood up in unison.
"Hello, I am Shen Nanpeng, and this is my partner Yang Dong."
Shen Nanpeng's introduction was very direct and his aura was very strong. He was completely unlike Zhu Xiaohu and Xu Xiaoping in terms of amiability. Not only did Lü Sifeng and the others feel uncomfortable, but even Geng Zhi was a little nervous.
Geng Zhi then quickly introduced the team members.
When he introduced Lü Sifeng, Sun Xiaowen, and Lü Siyu, Shen Nanpeng showed no expression. But when he mentioned Gu Wanning's background, Shen Nanpeng was visibly surprised.
"Xiao Geng, I'm short on time, let's get this over with quickly, you can start." Shen Nanpeng said, gesturing for Geng Zhi to directly operate the computer in his office.
The business plan that was posted early was already set up for screen mirroring.
Geng Zhi cleared his throat and began his BP presentation.
Today's presentation was basically the same as the ones given at Jinshajiang and Xu Xiaoping's, only the tone was more relaxed.
Shen Nanpeng remained silent throughout, only nodding occasionally. But his gaze remained fixed on Geng Zhi, occasionally glancing at the notebook in front of him and writing a few words on it.
Fifteen minutes later, Geng Zhi finished speaking and looked at Shen Nanpeng and Yang Dong.
Shen Nanpeng closed his notebook, leaned forward slightly, and placed his hands on the table, folded together.
After a few seconds of silence, he slowly spoke, asking his first question of the day: "Xiao Geng, what do you think is the biggest opportunity for my country's internet in the next decade?"
Geng Zhi was clearly stunned upon hearing this, and Gu Wan Ning and the others around him were also stunned.
This isn't a question about the Momo product; it's a question about the times. Zhu Xiaohu didn't ask, Xu Xiaoping didn't ask, and Ma Jieke didn't ask.
Ma Jie asked about "how to integrate with Taobao," which is an ecological perspective. Shen Nanpeng, on the other hand, asked about "opportunities of the times," which is a grander narrative.
Geng Zhi's heart skipped a beat; he realized that the person in front of him was different from everyone else.
He knows this problem best; all the people present combined don't know it as well as he does.
But he was still quickly organizing his thoughts, trying to figure out the most effective way to speak—to demonstrate his knowledge without appearing too eccentric.
A few seconds later, he took a deep breath and slowly replied, "Senior Shen, I think the next decade for the domestic internet will be [connectivity]."
The past ten years.
Shen Nanpeng's eyes lit up slightly, but he didn't speak or respond to the words "[Senior Shen]".
Geng Zhi continued, "Over the past decade, the domestic internet has solved the connection between people and information, such as the four major portals and Baidu search; the connection between people and goods, such as Taobao; and the connection between people, such as QQ and Renren."
Shen Nanpeng nodded slightly, signaling him to continue.
The straightforward voice began to calm down: "In the PC era, people sat in front of computers, and the internet was [another world]. In the mobile era, people have their phones in their hands, and the internet is [a completely different world]."
This world].
After discussing the overall market situation, Geng Zhi began to steer the conversation towards Momo.
"LBS, cameras, and sensors are enabling a true integration of online and offline for the first time. What Momo aims to do is connect strangers, but go a step further and connect people with everything around them: nearby people, nearby businesses, nearby events, and nearby services."
He paused, then continued, "If Momo can succeed, it will not just be an app, but a [gateway to a new era]."
After listening, Shen Nanpeng smiled slightly: "The word 'entrance' is quite interesting."
"So, what you're doing isn't social networking with strangers, it's the first step in [connection]?" Yang Dong couldn't help but interject.
"Yes. Strangers are just the beginning. With strangers, there will be acquaintances. With acquaintances, there will be groups. With groups, there will be communities. With communities, there will be services."
Yang Dong and Shen Nanpeng exchanged a glance and nodded simultaneously.
"My second question," Shen Nanpeng continued, "Does Momo have a counterpart in the United States?"
"Yes." Geng Zhi nodded. "Foursquare is one of the models we referenced in terms of product design. But Senior Shen, Momo is not a domestic copy of Foursquare."
Shen Nanpeng raised an eyebrow slightly: "Tell me more about it?"
Geng Zhi leaned slightly forward: "Foursquare's core is [check-in], where users report [where I am] to the platform. Momo's core is [discovery], where the platform tells users [who is nearby]. These are two completely different product logics. Foursquare is a tool, Momo is social."
He paused, then continued, "More importantly, the environments in the two countries are different."
"The United States is sparsely populated, so Foursquare users need to actively check in to find like-minded people; my country has a high population density, so when you open Momo, there are always people nearby. This density advantage makes [discovering people nearby] a naturally existing need."
Shen Nanpeng seemed thoughtful: "So, you don't consider yourself a copy of China?"
Geng Zhi shook his head, his tone resolute: "No, it should be 'InnovateinChina.' I think those who truly 'Copy to China' all eventually died out."
Yang Dong had just brought the water glass to his lips when he heard Geng Zhi's words and quickly asked, "Why?"
Seeing that Shen Nanpeng and Yang Dong had already been led into his own rhythm, Geng Zhi couldn't help but feel a surge of joy. He slowly explained, "The underlying logic of my country's Internet is different from that of the United States—the culture is different, the population density is different, and the user habits are different. What will truly succeed will be products that meet the needs of our own country."
As he spoke frankly, he began to give examples.
"Xinlang Weibo is not a copy of Twitter. Twitter is a public square with 140 characters, while Weibo added comments, retweets, and private messages, becoming a social media platform. It has succeeded because Chinese users like to observe and express themselves."
"QQ didn't copy ICQ. ICQ was just a chat tool, but QQ created QQ Show, QQ Zone, and QQ Games, turning chat into a community."
"Taobao didn't copy eBay. eBay is an auction platform, while Taobao created Alipay and Wangwang, which solved the trust issue."
"Renren is declining because it copied Facebook's [social networking among acquaintances], but users' existing relationships with their acquaintances have already been established in QQ."
After listening, Shen Nanpeng nodded slightly, his expression unreadable. But he wrote a few words in his notebook.
He looked up, and his third question came: "I've noticed that the online opinion about you lately is taking a wrong turn. At first, people called you an 'industry alumnus,' but now some are saying you're inconsistent in your words and actions, hypocritical, and pretending to be high-minded. Why don't you explain yourself?"
This question once again surprised Geng Zhi and his companions.
After hesitating for a few seconds, Geng Zhi finally spoke as if he had made up his mind: "I haven't refuted the online accusations against me because I'm very patient. I need an opportunity."
"Very patient," Shen Nanpeng thought to himself, having just heard Wang Xing say that morning.
"What kind of opportunity are you waiting for?" Shen Nanpeng pressed.
Geng Zhi's lips curled up slightly, but his tone remained calm: "An opportunity to let the truth speak for itself, an opportunity that can be of the greatest help to Momo."
Shen Nanpeng stared at Geng Zhi for two seconds, then suddenly smiled: "I won't ask what you're waiting for, but I admire your patience."
He glanced down at his notebook again, then looked up and asked his fourth question: "Do you think your team is currently lacking any roles?"
"We're short of a CFO; once we raise more funds, we'll recruit one."
Shen Nanpeng nodded: "What about operations? For social products, operations are key."
A thought struck him, and he blurted out, almost as if possessed: "I've already poached someone from C00; he's the deputy editor-in-chief at NetEase."
boom--!
The first to be shocked were not Shen Nanpeng, but Gu Wanning, Lü Sifeng, and the other three.
Tang Yan hasn't even started negotiating yet, has he? They haven't even met in person, so how did he become C00?
Shen Nanpeng raised an eyebrow: "Tang Yan? Why are you looking for Tang Yan?"
"He worked at NetEase for seven or eight years. He comes from a content background, has a cutting-edge perspective, media resources, understands community operations, understands human nature, and also has a strong sense of community." The straightforward answer was calm and natural.
Shen Nanpeng remained silent on the surface, but inwardly he was quite surprised by Geng Zhi's level of understanding.
Whether it was Geng Zhi's own understanding or Professor Gou Youqian's teaching, the Momo team ultimately had a very mature understanding.
This level of understanding is no less than that of Wang Xing this morning.
Shen Nanpeng, curious, pressed further, "Tang Yan is a veteran of NetEase News, how did you manage to dig this hole?"
"Equity, the allure of upcoming financing, and a bright future," Geng Zhi said.
How many shares are you prepared to give him?
"20%, to be paid out over four years," Geng Zhi replied without hesitation.
Shen Nanpeng nodded and didn't ask any further questions.
He wrote another line in his notebook, then looked up and asked his fifth question: "You need $200 million in financing, how do you plan to spend it?"
Geng Zhi answered very seriously this time, even counting on his fingers: "Four pieces in total."
"The first part is the expansion of servers and the technology team, accounting for 40%. If Momo's user base grows, the backend will face a lot of pressure."
"The second part is marketing, which accounts for 30%. Online channels, campus promotions, and offline events all require money."
"The third part is the construction of the operations team—accounting for 20%. Content review, user service, and offline event support—the team must be fully staffed."
"The fourth component is the reserve fund – accounting for 10%. This is for dealing with emergencies."
After listening, Shen Nanpeng nodded slightly: "The proportions are reasonable."
He then looked at Lü Sifeng and said, "Dr. Lü, could you explain to me in detail the current difficulties of LBS technology?"
Lu Sifeng, who was listening attentively, was suddenly called on. He was startled at first, then glanced at Geng Zhi and began to explain the technique, which lasted for three minutes.
After asking a few questions, Shen Nanpeng turned his gaze back to Geng Zhi and asked one last question: "What risks are involved in your Momo project?"
Geng Zhi was secretly delighted, but on the surface he showed some worry and began to count on his fingers: "Risk 1: User growth may not meet expectations."
"The solution isn't difficult: if the user base doesn't grow as dramatically as I plan, then we'll stick to campus outreach and word-of-mouth marketing. In terms of campus outreach, our team has the foundation and expertise of [Jiaotong University's matchmaking service]."
Shen Nanpeng and Yang Dong both noticed the word "[surge]", but neither of them asked about it.
Geng Zhi held up his second finger: "Risk 2: Once Momo becomes popular, major tech companies will follow suit."
"But stranger social networking requires long-term operation and accumulation, which is difficult for large companies to replicate in the short term, and Momo has a first-mover advantage."
He then held up a third finger: "Risk 3: After all, it's a social product, and in the future it may face regulatory risks like other social products."
"The solution is not difficult: adhere to the positioning of authentic social interaction, strengthen content review, and maintain communication with regulatory authorities. [Jiaotong University Matchmaker] also has extensive industry experience in authentic social interaction."
For every risk that Geng Zhi pointed out, he would provide a corresponding solution or analysis, which Shen Nanpeng found very helpful.
Shen Nanpeng glanced at his watch, then turned to Yang Dong and asked, "Mr. Yang, do you have any more questions?"
Yang Dong knew that Shen Nanpeng was about to see the guests off, but he had a pretty good impression of Geng Zhi and thought that there might be opportunities to cooperate in the future, so he thought he would ask one more question to make his presence known.
"Mr. Geng, how many users do you expect Momo to reach in the first month after its launch?"
"It should be around seven or eight hundred thousand," Geng Zhi said without hesitation.
Ok?
Yang Dong stared at Geng Zhi for a few seconds: "What were you thinking, managing to make seven or eight hundred thousand in a month?"
"Mr. Yang, my last project, [Jiaotong University Matchmaker], taught me something—sometimes, traffic isn't in the channels, it's in people's hearts. As long as you find that spot in people's hearts, traffic will come to you on its own."
The meeting room was silent for a few seconds.
Yang Dong clearly disagreed with Geng Zhi's last answer, but he felt there was no need to press further, so he signaled to Shen Nanpeng that he had no more questions.
Shen Nanpeng closed his notebook, leaned back slightly, and looked back at Geng Zhi, as if he were re-evaluating him.
Then, he said something that surprised Geng Zhi and everyone present: "Geng Zhi, I'll invest $200 million in you, and Sequoia will take 10%. Sign TS today."
boom-!
This time, it was Geng Zhi's turn to be shocked.
He opened his mouth, but for a moment he didn't know what to say.
Lu Sifeng, Sun Xiaowen, Lu Siyu, and even Gu Wanning, who was used to seeing the world, all looked at Shen Nanpeng in shock.
After about seven or eight seconds of silence, he came to his senses and said with an unnatural expression, "Senior Shen, won't you reconsider?"
"Hmm?" Shen Nanpeng chuckled at Geng Zhi's straightforward expression. "What, you quoted your own price, but you're afraid to accept it?"
"Uh—" Geng Zhi stammered, "What I mean is, you—won't you wait for the data performance after it goes live before deciding whether to invest or not?"
Shen Nanpeng shook his head: "Think it through before investing? That's something others do. Sequoia's rule is, if you're sure, then bet."
"This—" Geng Zhi's heart began to struggle.
P.S.: I'll be updating a lot tomorrow and the day after. Also, please vote for me with monthly tickets, thank you so much!
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