yournovel Chapter 135 Ma Jieke is "Blind"
Chapter 135 Ma Jieke is "Blind"
Chapter 135 Ma Jieke is "Blind" (9k)
Xu Xiaoping was visibly taken aback when she heard Geng Zhi's request for a recommendation.
That smile contained admiration, surprise, and a hint of "You've got guts, kid."
"Xiao Geng," Xu Xiaoping stood up and patted Geng Zhi on the shoulder, "Are you here to discuss financing, to show off your connections, or to arrest someone?"
Geng Zhi chuckled, looking completely innocent: "Teacher Xu, yes, yes, it's all a coincidence."
He paused, then added, "Teacher Xu, I would be extremely grateful if I could meet him, even if it was just to say a few words."
Xu Xiaoping looked at him and nodded inwardly.
These days, there are many young people who dare to think and act. But those who dare to think and act and are also thick-skinned are truly rare.
"Alright, you guys sit and wait a bit. I'll go over and chat with him for a bit, see what he thinks. If he's willing to see you, I'll call you back," Xu Xiaoping said, walking out of the room.
"Thank you so much, Teacher Xu!"
The four people who were still standing at the door waiting for Geng Zhi—Gu Wanning, Lü Sifeng, Sun Xiaowen, and Lü Siyu—were completely stunned when they saw Geng Zhi go in and Xu Xiaoping come out.
Lü Sifeng blinked: "What just happened?"
Sun Xiaowen shook her head: "I don't understand either, why did the boss go back?"
Gu Wanning didn't speak, but peeked into the office and saw that Geng Zhi had sat down and was leisurely drinking tea. "Could it be that Geng Zhi wants to take Teacher Xu's money again?" Gu Wanning wondered to herself, and gave Geng Zhi an inquiring look.
Seeing this, Geng Zhi quickly smiled and waved to Gu Wan Ning, "Come in, let them all come in."
Upon hearing this, Gu Wanning immediately beckoned to the other three. The group filed in and sat down in a row next to Geng Zhi.
"Hey, you big liar, what's going on? Are you going to take Teacher Xu's $50?" Gu Wanning asked, puzzled.
"That's definitely not it!" Geng Zhi shook his head with a smile. "I just saw Mr. Ma and would like to ask Teacher Xu to help introduce us."
"Mr. Ma? Which Mr. Ma?" Sun Xiaowen asked hurriedly, her first thought being Ma Chunmei.
"Oh, that guy in the red shirt just now, was that Jack Ma from Ali Baba?" Lu Siyu suddenly realized and covered her mouth with her hand.
"That's right."
Lu Sifeng also realized what was happening, his eyes widening like copper bells: "Junior brother, you don't mean you want to talk to Ma Jieke about Momo's financing, do you?"
"That's right." Geng Zhi said matter-of-factly, "In the business world, you can't make money if you're shy and hesitant."
When opportunity knocks, we have to seize it.
Lu Sifeng swallowed hard but didn't say anything.
His mind was already racing with wild fantasies: what if the deal actually went through? Wouldn't Momo take off? What if it didn't? Would he offend someone? What if—
He suddenly realized that his perspective on problems as a nominal CT0 was completely different from Geng Zhi's.
In its previous life, starting from Series B funding, Yunfeng Capital and Alibaba began investing in Momo.
Furthermore, Alibaba Group continued to invest in the Series C round and further increased its stake during the private placement before the IPO, eventually becoming Momo's second-largest shareholder.
But the context then was different from now.
At that time, Tencent's WeChat had already occupied an absolute leading position in the social networking of acquaintances, while Alibaba had repeatedly failed in the social networking field and urgently needed to develop social networking with strangers, in order to build an ecological closed loop in close synergy with its own O020O strategy.
At the same time, it's to prevent Tencent from intercepting future e-commerce access. In Jack Ma's words, investing in Momo is like "burning down Antarctica," breaking Tencent's monopoly by entering the social networking arena.
However, at that time, WeChat had not yet been launched, and Alibaba's strategic focus was still on e-commerce and payments. Alibaba's emphasis on social networking was far from sufficient, so the probability of Gengzhi actually getting Alibaba's money this time was not high.
But when the opportunity came, Geng Zhi still wanted to make an appearance.
In the next-door reception room.
When Xu Xiaoping pushed open the door, Ma Jieke was sitting on the sofa drinking tea. Seeing her enter, Ma Jieke smiled and stood up, speaking in a thick Zhejiang accent: "Teacher Xu, long time no see!"
After a brief exchange of pleasantries, Ma Jieke was about to get down to business when Xu Xiaoping preemptively stated, "Mr. Ma, there's a young guy in my office who's starting an internet business. He's a student at Shanghai Jiao Tong University and has some great ideas. He happened to run into you and wanted me to introduce him to his new project. Would you like to meet him?"
Ma Jie raised an eyebrow: "Oh? What direction are you working in?"
Xu Xiaoping briefly explained: "I previously worked on a matchmaking project called [Jiaotong University Matchmaker]. It started with offline events and later collaborated with the Jiangsu Province's 'If You Are the One' program. It did quite well, and I recently cashed out nearly ten million yuan."
"Oh? A college student cashed out millions?" Ma Jieke became interested. "What field is this new project in?"
"They've just launched a new mobile social networking product called Momo, which focuses on social networking with strangers. I just listened to their business plan, and the product is quite interesting, with a very clear business model," Xu Xiaoping replied.
He only mentioned that the project was good, but didn't bring up the fact that he hadn't invested.
After a pause, Xu Xiaoping added, "I'm just playing matchmaker. If you're interested, you can meet him; if not, I'll just say goodbye. Young people should be given a chance."
Ma Jieke nodded: "Since Teacher Xu has said so, I definitely have to meet him. I want to see what kind of project Teacher Xu is praising so highly."
He agreed to meet, partly to give Xu Xiaoping face, and partly because he had indeed developed some interest in the college student named Geng Zhi.
Xu Xiaoping smiled and stood up: "Okay, then I'll go and call him over."
He returned to his office and waved to Geng Zhi and the others: "Come on, Geng, everyone, Teacher Ma has agreed to see you."
Oh, so we've met you here?
Lu Sifeng's heart skipped a beat, and he almost dropped his phone.
Geng Zhi took a deep breath, got up and walked towards the door.
Lu Sifeng, Sun Xiaowen, and Lu Siyu, who were standing next to them, immediately stood up, their nervousness barely concealed, just like fans going to meet a celebrity.
Gu Wanning remained calm, though her eyes were bright and sparkling, and it was unclear what she was thinking.
Xu Xiaoping led the group into the reception room.
Ma Jieke had already stood up, a smile on his face, his red down jacket making him look energetic.
Xu Xiaoping introduced, "Teacher Ma, this is Geng Zhi, and several of his founding team members."
"Hello, I'm Jack Ma." Jack Ma greeted everyone first without any airs, his tone as gentle as a friendly neighbor.
"Hello, Teacher Ma!"
"Hello, Teacher Ma!" Geng Zhi respectfully extended his hand. "I've long admired your name. I grew up watching your lectures, Teacher Ma."
Ma Jieke reached out and shook hands with Geng Zhi, smiling as he said, "You grew up watching my speeches? Then I have to ask you, which of my sentences impressed you the most?"
Gu Wanning, standing nearby, felt a chill run down her spine: Serves you right for spouting nonsense again! This time you've really messed with things!
Her mind raced, frantically recalling Ma Jieke's famous quote, trying to figure out how to help Geng Zhi out of this predicament.
Before he could even speak, Geng Zhi calmly replied, "Today is cruel, tomorrow is crueler, and the day after tomorrow is beautiful, but most people die tomorrow night."
"The internet is like a glass of beer; it tastes best when it has foam."
"Short-lived passion is worthless; only lasting passion is profitable."
He recited three sentences in one breath, his tone as fluent as if he were reciting a text.
Xu Xiaoping raised an eyebrow in surprise, Gu Wanning and Lü Siyu stared wide-eyed, while Lü Sifeng and Sun Xiaowen looked at Geng Zhi with disbelief.
Even Ma Jieke himself was slightly surprised to see that Geng Zhi could recite some of his previous words word for word.
He didn't know that Geng Zhi was actually a big fan of his. It was just a coincidence that he arrived, or perhaps Xu Xiaoping had Geng Zhi prepare everything in advance, just waiting for him to come.
Just as everyone was surprised, Geng Zhi said one last of Ma Jieke's famous quotes: "A man's looks are often inversely proportional to his talent."
Gu Wan Ning gasped, and Lu Si Feng almost dropped his phone. Sun Xiao Wen and Lu Si Yu exchanged a glance, not daring to breathe.
This person is really outspoken!
Ma Jieke was slightly taken aback, but then he smiled, pursed his lips, and nodded.
Only by daring to speak and act can one achieve success in business.
"Come, sit down, everyone, please sit down." Xu Xiaoping quickly took the opportunity to smooth things over and let everyone sit down.
The living room wasn't large. Xu Xiaoping, Ma Jieke, Geng Zhi, and Gu Wanning sat on the sofa, while Lü Sifeng, Sun Xiaowen, and...
Lü Siyu could only sit on a stool.
Ma Jieke leaned casually back on the sofa, staring at Geng Zhi and said, "Professor Xu just said that the social product you're working on is quite interesting. Tell me about it?"
Before Geng Zhi could speak, he continued, "I'm short on time. You only have one minute to explain yourself clearly and grab my attention."
boom-!
Upon hearing Ma Jieke's words, Lü Sifeng and the others looked nervously at Geng Zhi.
Can you explain this clearly in one minute?
Is this how efficient the big shots are at communicating? It takes more than ten seconds just for a computer to boot up—Lü Sifeng thought to himself.
Geng Zhi took a deep breath, didn't turn on the computer, and said in the simplest language: "Teacher Ma, we are making a location-based social networking app for strangers called Momo."
"The core logic is simple: using LBS technology, users can see people nearby and establish connections based on interests and location. The product is already developed and we are about to conduct small-scale testing."
"The business model consists of three layers: membership value-added services, LBSG, and game joint operation."
In just three straightforward sentences, the core product logic, business model, and current product status are all distilled.
As Ma Jie listened, he nodded slightly, and couldn't help but look at the young man in front of him with even more respect.
He paused for a moment, then asked, "Stranger social networking—do you think this demand is real? Are Chinese people used to talking to strangers?"
Geng Zhi laughed: "Teacher Ma, I have a question for you. Do you think Chinese people are used to buying things online? When Taobao first came out in 2003, many people also felt uncomfortable with it."
Ma Jieke's eyes lit up, and a smile appeared on his lips: "Oh, so you're using your own weapon against yourself!"
Geng Zhi nodded: "Teacher Ma asked a good question, but habits can be cultivated, and needs will always exist."
He continued, "In the PC era, QQ solved the problem of connecting with acquaintances; in the mobile era, mobile phones have GPS and real-time online connectivity, making the [People Nearby] scenario entirely new."
"Young people want to make new friends, white-collar workers want to expand their social circles, and college students want to socialize across schools. These needs have always existed, but in the past, there were no technological means to meet them."
Ma Jieke seemed to be deep in thought.
He paused for a few seconds, then asked, "If strangers are interacting, how can you guarantee that what starts as interest won't eventually evolve into sexual interest? This kind of platform is very easy to exploit."
Geng Zhi frowned slightly.
He frowned not because he didn't understand, but because he was thinking about how to answer the question well.
But when Ma Jie saw him frown, he thought he was too young and naive to understand, so he clearly added, "I mean things that are gray, things that are not in compliance with regulations."
Geng Zhi said earnestly, "We designed two lines of defense from the very beginning. First, in terms of the product mechanism, two-way confirmation is required to chat, giving female users more initiative."
"Secondly, in terms of operational strategy, we emphasize [real social interaction + offline connection]. User information must be verified, and offline activities must be genuine."
Geng Zhi paused slightly before continuing, "We don't deny that some people come with ulterior motives, but we want to ensure that those who genuinely want to make friends have a positive experience."
"But even if you review it, you can't guarantee it's completely safe," Ma Jie replied instinctively.
He really did it subconsciously, because this problem doesn't just occur on Momo; it happens on any social platform.
"Teacher Ma, it's like how e-commerce platforms do verify products, but if a so-called [merchant] lists a Giant bicycle and sells underwear [for in-person transactions only within the same city], it can't guarantee that it's completely safe."
Ma Jieke first frowned, then smiled slightly and shook his head, his eyes filled with appreciation.
This kid, using e-commerce to fight against e-commerce, he's really got talent.
Xu Xiaoping, standing beside him, couldn't help but feel a chill. He had a feeling that Geng Zhi seemed to know Ma Jieke very well, and that every word he said sounded like it had been planned in advance.
Gu Wanning's mind flashed to the books "Ruined Capital" and "Jin Ping Mei" on Geng Zhi's desk, and she immediately understood Geng Zhi's subtext. Her lips twitched involuntarily.
Only Lü Siyu, Sun Xiaowen, and Lü Sifeng were still seriously pondering: what exactly does selling Giant bicycles have to do with safety?
Ma Jieke continued, "Straightforward guy, could you elaborate on those layers of business models you just mentioned?"
Geng Zhi nodded: "Okay, Teacher Ma, the business model has three layers."
"The first tier is membership value-added services. Users can enjoy more advanced features by becoming members, such as unlimited greetings, seeing who likes them, and browsing incognito mode."
"The second layer is LBSGG. Besides pure brand display, the core is location-based push of local business information. Restaurants, cafes, cinemas, precise push, conversion rate is much higher than PC."
"The third layer is game co-publishing. Lightweight social games have already been validated by platforms such as Zynga and Tencent. When users play games on Momo, we share the revenue with the developers."
He spoke frankly and concisely, giving a clear and concise explanation of Momo's business model.
After listening, Ma Jieke remained silent for a few seconds, then asked a question that surprised everyone present: "How can your product be combined with my Taobao store?"
This time, Geng Zhi was slightly taken aback.
But he quickly realized that Jack Ma was looking at the problem from the perspective of ecological integration, which is also Alibaba's consistent investment style.
In its previous life, Alibaba invested heavily in Momo, essentially as a defensive offensive while simultaneously aiming for ecosystem integration. However, the O020O closed loop ultimately failed to materialize, leading to Alibaba's subsequent cash-out and exit.
After a moment's hesitation, Geng Zhi tentatively replied, "Teacher Ma, to be honest, I haven't thought that far ahead. But if I had to—"
He paused, carefully choosing his words: "Taobao users need social scenarios to build relationships, while Momo users have consumption needs that need to be met."
"If this is integrated in the future, it can combine [nearby merchant recommendations + Taobao reviews], and it can also facilitate interaction between [interest groups + Taobao experts]."
Geng Zhi knew in his heart that this answer was only mediocre. But in his haste, he couldn't think of a better one.
Ma Jieke nodded slightly and didn't ask any further questions.
The answer didn't particularly impress him, but it didn't disappoint either—it was adequate, passing the minimum requirement. However, it certainly didn't pique his interest much.
After briefly inquiring about the Momo team's staffing and launch plans, he turned to Xu Xiaoping and asked, "Ms. Xu, how much money did you invest in this round?"
Xu Xiaoping smiled and shook her head: "The product is good, but I didn't invest. Mainly because his valuation was too high."
"Oh?" Ma Jie raised an eyebrow.
He has a deep-seated obsession with social media. Alibaba has tried several social products over the years, all of which failed miserably. Each time, they started with great confidence and ended quietly.
However, he didn't quite understand this straightforward stranger social networking product and didn't approve of it, so his impression of it was just average.
The mention of "game co-operation" in particular made him somewhat disgusted. He would never touch games on Alibaba.
If Xu Xiaoping leads the investment, Ma Jieke can co-invest a portion, as a way of supporting an old friend.
But now that even Xu Xiaoping herself hasn't voted, he no longer needs to worry about saving face.
Ma Jie turned to Geng Zhi and asked curiously, "How much did you value it at?"
"We'll raise $200 million in financing, give up 10% of our equity, and value the company at $2000 million," Geng said calmly.
Ma Jieke chuckled softly.
"Young man, you've got quite the appetite." He leaned back on the sofa, a half-smile on his face. "No online presence, no data, and you're already asking for a $2000 million valuation?"
Geng Zhi met Ma Jieke's gaze directly: "Mr. Ma, back in 1999 when you started Alibaba, you didn't have any data either, but you still got funding, didn't you?"
The office was silent for a few seconds.
Ma Jieke laughed heartily: "Hahaha, good, you're quite interesting, kid."
After laughing, he waved his hand and said, "However, to be honest, times have changed. 1999 was the first year of the Internet in China. Everyone was feeling their way across the river, looking at people and directions."
He then changed the subject: "But this is 2010. Mobile internet is just emerging, but the investment logic is already mature. No data means no data."
Xu Xiaoping had already anticipated the outcome, and all she could do now was give Geng Zhi an encouraging look.
Ma Jieke further explained, "Young man, I admire your confidence, but your valuation of 2000 million is indeed too high. Teacher Xu has his reasons for not investing. Alibaba also considers the cost-effectiveness when investing in projects, and I haven't understood your project yet."
"Mr. Ma, didn't you say before that you should only vote for things you don't understand?" Geng Zhi continued to quote Ma Jieke's famous saying and asked seriously.
Ma Jie smiled upon hearing this, realizing that the young man in front of him was probably a true fan.
"I've said that before. But I don't invest in everything I don't understand." He patiently explained, "I may not understand it, but others do, so I can invest. Right now, even Teacher Xu doesn't understand it—or rather, he understands it but thinks it's too expensive—"
Then I have no reason to vote.
Lu Siyu and the others standing nearby looked regretful.
Geng Zhi remained calm and said, "Thank you, Mr. Ma. I understand that you don't have enough confidence in the social media sector."
Geng Zhi hit Ma Jieke right where it hurt.
He stared at Geng Zhi for several seconds, his eyes filled with admiration: "Xiao Geng, you're on the right track. In the stranger social networking arena, someone will eventually succeed. As for whether it will be you, that depends on your execution and luck."
Geng Zhi nodded: "Thank you, Teacher Ma."
Ma Jieke decided not to continue the conversation. He stood up, extended his hand, and said, "You're still university students, you have plenty of time ahead of you. Keep up the good work, don't be discouraged. Rejection is normal in entrepreneurship."
As Geng Zhi shook hands with Ma Jieke, he smiled and said, "Teacher Ma, I won't be discouraged."
He paused, then added, "Because I know that when Mr. Ma was starting Alibaba, he was rejected by 37 VCs. But in the end, those 37 VCs all proved themselves—" He paused again, emphasizing each word: "They were blind to the truth."
Xu Xiaoping almost burst out laughing.
Ma Jieke paused for a moment, then burst into even louder laughter: "Hahaha! Good! Good lad! You're indirectly calling me blind!"
"Teacher Ma, that's not what I meant!" Geng Zhi explained with an innocent look on his face.
Xu Xiaoping, who was laughing uncontrollably, quickly tried to smooth things over: "Teacher Ma, you've been outmaneuvered this time!"
Ma Jieke laughed and shook his head: "Okay, okay, I admit it. But to be frank, I have to make this clear to you—those 37 VCs of mine were from 1999. It's 2010 now. If you really come out of there, I'll be the first to admit I was blind."
"Talented horses are common, but discerning judges are rare. Teacher Ma was a talented horse back then, but many overlooked him. Whether I am a talented horse today, I don't know. But I know that if I am invincible in my heart, I will be invincible in the world."
Geng Zhi's last sentence was still a quote from Ma Jieke.
"Okay, straightforward, I'll remember your name." Ma Jieke nodded with interest.
"Teacher Ma, we'll meet again someday! Teacher Xu, goodbye!"
"goodbye!"
After seeing the five straightforward people off, Xu Xiaoping returned to the reception room with a smile, shaking her head: "Xiao Geng's style of chatting with me is completely different from his style of chatting with you!"
Ma Jieke leaned back on the sofa, a smile still playing on his lips: "He's quite interesting."
"That's right." Xu Xiaoping sat down. "Some of his personality traits are quite similar to yours back then."
Ma Jieke remained silent for two seconds.
"Yes," he said, "but there will only be one Jack Ma in this world."
The elevator doors slowly closed.
Geng Zhi let out a breath, a slight smile appearing on his lips.
It's not surprising at all that Ma Jie didn't invest in Momo this time.
The key is to leave a deep impression on Ma Jieke and make him remember you in advance; that's enough.
The elevator descended, and no one spoke.
After leaving the building, the five of them walked north along the sidewalk to a restaurant. Lü Siyu had already chosen Xi Bei Youmian Village restaurant in a nearby shopping mall.
In early spring in the capital, the wind was still a bit chilly. The plane trees along the roadside were bare, their branches stretching towards the gray sky.
As they walked, Lü Sifeng finally couldn't hold back any longer and said, "Junior brother, I still don't quite understand. I'm really curious."
"What don't you understand?"
"I can clearly see that Senior Brother Zhu Xiaohu and Teacher Xu Xiaoping highly praise Momo, but why does President Ma show so little interest in Momo? And why is Teacher Xu's valuation much lower than Senior Brother Zhu's, even though they are both investors?" Lu Sifeng wondered.
"That's a good question."
He thought for a moment and said, "One reason is, as Ma Jie himself said, that he really doesn't understand our model."
"But he's the boss of Ali Baba!" Sun Xiaowen interjected. "He's President Ma, how could he not understand?"
"Everyone has their own expertise, and no one is a god," Gu Wanning added.
"That makes sense." Lü Sifeng nodded, pondered for a moment, and then asked Geng Zhi, "Junior brother, are there any other reasons?"
"The nature of their funds and their investment logic are fundamentally very different," Geng Zhi said.
"How do you explain this? Can you help me analyze it?" Lu Sifeng asked eagerly.
"Wan Ning, you're more professional, why don't you give the presentation?" Geng Zhi smiled and looked at Gu Wan Ning.
Gu Wanning smiled and shook her head: "You should say it, I can add to it."
"Alright." Geng Zhi cleared his throat and said, "Senior brother, let's analyze Ma Jack first. Who do you think Ma Jack is?"
Lu Sifeng was taken aback for a moment, then said, "The founder of Alibaba! A big shot in the e-commerce internet industry."
"My senior is right. He's an e-commerce professional first, and an investor second."
"What do you mean?" Lu Sifeng asked.
"If you've ever looked at Alibaba's investment portfolio, you'll find that almost all of their investments revolve around their [Taobao] strategy."
"Ali's core is e-commerce, the connection between people and goods, not between people. Jack Ma's current focus is on e-commerce; social networking is not his primary area of consideration. Unless social networking threatens his position one day."
"I see!" Lü Sifeng suddenly realized. "No wonder he asked you what the connection was between Momo and Taobao."
"That's right." Geng Zhi nodded. "Let's look at Ms. Xu Xiaoping. She's an angel investor, and her ZhenFund hasn't officially launched yet. So, all the money she's investing at this stage is from her own money."
"Oh, I mean," Lü Sifeng drawled, "that's why he's more cautious with his investments and pays more attention to cost-effectiveness. If he makes a wrong investment, he'll lose his own money."
"That's right. He thinks Momo is great, but that's completely different from Momo being worth $2000 million. His valuation of Momo is only $500 million."
"What about Brother Zhu from Jinshajiang Venture Capital?" Lü Sifeng asked again.
"When Senior Brother Zhu invests in projects, he uses funds raised by Jinshajiang Venture Capital. The money in the fund comes from the LPs, and the LPs give the money to Senior Brother so he can [gamble]. If he gambles correctly and earns dozens of times his initial investment, the LPs get a share, and Senior Brother Zhu gets a percentage."
"What if you bet wrong?" Sun Xiaowen asked immediately.
"If we gambled wrong, LP will accept the loss. As long as Brother Zhu's logic is correct, we can raise money again next time," Geng Zhi explained.
"So, Senior Brother Zhu dares to gamble and give such a high valuation?" Lu Sifeng asked.
"That's right. He can invest in 10 projects, 9 of them will fail, and he can make 100 times his initial investment. He's the best investor," Geng Zhi said.
Lü Sifeng understood and asked with admiration, "Junior brother, how do you know so much?"
"Actually, it's nothing much, just do more research before negotiations. I've always believed that knowing yourself and your enemy is the key to victory in every battle."
"He said it straight."
As soon as Geng Zhi finished speaking, the group began to cross the traffic light and fell silent instantly, as Lü Sifeng and the others seemed to be deep in thought.
Twenty seconds later, Lü Sifeng asked again, "Junior brother, what does the 'P' you mentioned mean?"
Geng Zhi looked at Gu Wan Ning and said, "Wan Ning, why don't you give a professional explanation?"
Gu Wanning nodded: "The GP-LP model is the most mainstream model in venture capital and private equity investment. It can be simply understood as LPs being the ones who provide the money, and GPs being the ones who manage the money."
"Taking Jinshajiang Venture Capital as an example, perhaps 99% of the money in the fund comes from LPs, such as some endowment funds in Europe and America."
Sovereign wealth funds, etc.
"About 1% of the money comes from GPs, such as Mr. Wu and Mr. Zhu Xiaohu. They are the brains and operators of the fund. They are responsible for reviewing and investing in projects. They share the profits."
Lü Sifeng nodded first.
Lü Siyu nodded in agreement.
Sun Xiaowen thought for a moment and nodded, "I see!"
She paused, then suddenly laughed: "So Zhu Xiaohu dared to gamble because he was betting other people's money?"
Gu Wanning also laughed: "You can understand it that way—"
But that's not entirely true. A GP's reputation is also crucial; too many losses will prevent them from raising funds next time.
The group continued walking and talking as they crossed the road.
The early spring wind felt cool on his face, but Lu Sifeng felt warm inside.
He learned more on this trip to the capital than he had in the past ten years.
He secretly glanced at Geng Zhi, who was walking ahead.
After dinner, back in his hotel room, Geng Zhi immediately turned on his computer and began to concentrate on replying to various business emails.
There's been an overwhelming amount of business lately.
Emails explaining the domestic and international copyright agency for "Fruit Ninja" and emails analyzing research findings from Li Dongping helping Arctic Capital find overseas projects.
One email after another, after reading and replying to them all, an hour and a half had already passed.
He then started a remote conference call with the Momo team in Shanghai.
Ma Tongtong reported first: "Boss, according to our acceptance standards, the iOS version of the Momo APP is ready to go live. The functional issues have been resolved, and the performance issues have little impact. I suggest launching it on time at noon the day after tomorrow."
"Okay. After launch, we'll test market reaction while continuing to fix and optimize." Geng asked directly, "How's the progress on the Android version?"
"Boss, the Android version development should be completed in another two or three days," Chu Jiatong replied, his voice tinged with fatigue. "The biggest challenge now is adapting to various models—different brands, different system versions, and different screen sizes. The workload for development and testing is enormous."
He paused, then added, "We still need to hire more people."
"Okay, thanks for your hard work," Geng Zhi said. "Next week, an Android developer and a tester will be joining. The week after that, an iOS developer, an Android developer, and a server-side developer will be joining. We'll have more manpower then."
He paused, then softened his tone: "It's the darkness before dawn, hang in there."
"clear!"
"Boss, boss!" Yang Mingxia quickly interjected, "Let me report on the preparations for the promotion!"
"Okay, go ahead."
"According to the plan, the first week will only be rolled out in Shanghai, and it will expand to eight cities by March 15th." Yang Mingxia spoke rapidly, "Shanghai is fine; arrangements have been made for both campuses and the city-wide rollout. But the other cities—"
"Okay. Mingxia, let's go over the specific multi-channel, multi-dimensional promotion strategy in detail later."
Geng Zhi then asked a few more key questions, and finally asked, "Does anyone have any other questions?"
There was a two-second silence on the other end of the phone.
"Boss, Song Qing still has some questions to say." Ma Tongtong spoke up for him, seeing that Song Qing was hesitant.
Geng Zhi raised an eyebrow slightly.
"Junior brother—I—I still have an optimization problem that I can't solve. Could you—have Senior Brother Lü come back as soon as possible to help me?" Song Qing stammered.
Geng Zhi paused for a second. He realized that Song Qing wasn't just having trouble, he was genuinely stuck.
He pondered for a moment, then said, "Alright. Then let Senior Brother Lü fly back to Shanghai tomorrow night."
"Thank you, junior brother!" Song Qing's voice clearly showed relief.
The conference call lasted another ten minutes, finalizing some details before ending.
Boom boom boom!
Just as I hung up the phone, there was a knock on the door, and Gu Wanning came in carrying the blueberries and strawberries she had just bought.
After she finished washing up and delivered the items to Lü Siyu and the others, she returned to her room and started chatting with Geng Zhi.
"You big liar, judging from the negotiations with investors these past two days, if Momo becomes a hit after its launch, a valuation of $2000 million is a sure thing, right?"
"Hmm, it looks fine." Geng Zhi nodded.
Gu Wanning paused for a moment, her expression becoming somewhat complicated.
"In that case," she hesitated for a moment, "if you bring Tang Yan on board, wouldn't the cost be a bit high?"
Geng Zhi didn't say anything. He picked up a blueberry, put it in his mouth, and chewed it slowly.
Gu Wanning's worries were actually the same thing that he had been struggling with recently.
Tang Yan is the deputy editor-in-chief of NetEase. If they want to recruit him, he definitely won't come if they offer too little equity. But if they offer too much, the cost is indeed quite high, and their own equity will be diluted.
If Tang Yan becomes too assertive, and a situation arises like [Jiaotong University Matchmaker] where the founders fall out, it could easily spiral out of control.
Seeing that he didn't speak, Gu Wanning spoke again.
"Actually, I think our current team is pretty good." She analyzed seriously, "Beibei and Mingxia have already honed their skills in the 'Jiaotong University Matchmaker' project. We can completely make up for Tang Yan's media resources with money."
"Yes, Wan Ning, I agree with what you said."
Geng Zhi agreed first, and then said, "Right now, Bei Bei and Ming Xia can fill the vacancy left by President Li's absence, but once Momo becomes popular, their current abilities will not be able to keep up, and they will need to hone their skills."
"Why?" Gu Wanning asked, puzzled.
Geng Zhi picked up another blueberry, but this time he didn't rush to eat it. He held it in his hand and slowly turned it around.
"Once Momo becomes popular, it will ignite the entire stranger social networking market," he said. "Countless teams will enter the fray, and major companies will also jump in. The stranger social networking market will be a bloodbath."
Gu Wanning frowned slightly.
"Then we will not be facing competitors like Baihe.com and Jiayuan.com, which are neither professional nor financially strong," Geng Zhi continued. "Moreover, CCTV will no longer be providing us with assistance."
Gu Wanning was slightly surprised: "Is it really that exaggerated?"
"Definitely," Geng Zhi said earnestly. "Otherwise, why would Zhu Xiaohu be willing to invest in us at a valuation of 1000 million US dollars? He's not stupid."
He put the blueberry in his mouth and chewed it a couple of times.
"If we don't get to the front, we'll just be doing all the work for others. That's how ruthless the internet industry is."
Gu Wanning remained silent.
She had been away from America for too long and was no longer familiar with the vibrant internet innovation scene across the ocean.
"Besides bringing his own media resources, Tang Yan also understands public opinion warfare and may even understand human nature. He is a rare and valuable partner," Geng Zhi added.
"But what if we can't recruit them?" Gu Wanning asked.
"Then he might become our most formidable opponent for some time to come."
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