RINAPE :: Volume #11

#1083: Who can make money who is a father

LNMTL needs user funding to survive Read More

Because Li Mu's is strong, as well as entire Muye Science and Technology in unceasing increasing of internet industry position, before Sequoia eventually gave up financing, as expected routine completely adjusts the work, completed signing with Li Mu in Muye Science and Technology directly! 由于李牧的强硬,以及整个牧野科技在互联网行业地位的不断攀升,红杉最终不出所料的放弃了融资前例行的尽调工作,直接与李牧在牧野科技完成了签约！ 330 hundred million USD, settle down! 三百三十亿美元,尘埃落定！ The Li Mu's domineering, let Sequoia and entire venture capitalists circle feels the greatest pressure, but the capital domain, is in itself who can make money who was the father, that Li Mu most can make money exactly. 李牧的强势,让红杉以及整个创投圈都感觉到了莫大的压力,但是资本领域,本身就是谁能赚钱谁是爹,李牧恰好是最能赚钱的那个。 In the past Mark Zuckerberg established Facebook time, financing of several hundred thousand USD took are quite difficult, but after he thrust Facebook was regular, the overseas rich and powerful people specially fly US (America) to come, asking him at the high premium to buy stock in Facebook, and gave up all voting rights on own initiative, this was in the capital industry the transformation of position. 当年马克・扎克伯格创立faebook的时候,几十万美元的融资拿得都颇为艰辛,但当他把aebook推入正规之后,海外的富豪专程飞到美国来,求着他以高溢价入股aebook并且主动放弃所有投票权,这就是资本行业中地位的转变。 A paper contract, decided the Muye Science and Technology 330 hundred million USD estimate values, determined at the end of 2002, biggest financing of the world internet industry. 一纸合同,敲定了牧野科技三百三十亿美元的估值,也确定了2002年末,世界互联网行业的最大笔融资。 However this time estimate value, was higher, again high the beforehand gold content, has not transferred the stock in the price of that estimate value the beforehand estimate value said after all successfully, but, is now different, Sequoia this contract has used 33 hundred million USD, definitely Muye Science and Technology 330 hundred million USD estimate values. 不过这时候的估值,比之前的含金量高了许多,毕竟之前的估值说的再高,也没有在那个估值的价位上成功转让过股份,但是,现在不一样了,红杉这份合同已经用三十三亿美元,肯定了牧野科技三百三十亿美元的估值。 The contract signs, entire Muye Science and Technology is bustling. 合同签完,整个牧野科技上上下下一片沸腾。 In the US (America) colleague, is in the Yanjing colleague, at this moment the estimate value as well as large amount of financing that for the company rises dramatically achieves to be excited, the atmosphere also wants excited many compared with the new year's celebration. 无论是在美国的同事,还是在燕京的同事,此刻都为公司暴增的估值以及巨额的融资达成而兴奋不已,气氛比过年还要激动的多。 Although after signing the contract, Muye Science and Technology has not received money immediately, but the entire internet industry and venture capitalists circle all exploded. 虽说签完合同之后牧野科技还没立刻拿到钱,但是整个互联网行业以及创投圈全都炸了。 Knows that Muye Science and Technology awesome, knows now very much the YY user over 200 million, has known YY has started toward „centralization” development, but the didn't expect YY estimate value can arrive unexpectedly is so high. 知道牧野科技现在很牛逼、知道yy用户已经超过两亿、知道yy已经开始往“中心化”发展,但是没想到yy的估值竟然能到这么高。 33 billion, USD! This is the China internet enterprise record-setting high estimate value, moreover in the entire US (America) internet industry, can be among the best. 三百三十亿,美元！这已经是华夏互联网企业创纪录的高估值,而且在整个美国互联网行业,都能够名列前茅。 However the statistics of capital are relatively rigorous, Sequoia although gave the Muye Science and Technology 330 hundred million USD estimate values, but also has no media to include Silicon Valley as well as in the ranking of the world internet enterprise market value Muye Science and Technology, because these truly the enterprise in list, basically all are the uniform listed enterprises, because to media, because enterprise, only then after the listing, has „market value” the concept. 不过资本的统计相对严谨,红杉虽然给了牧野科技三百三十亿美元的估值,但还没有任何媒体把牧野科技列入硅谷以及世界互联网企业市值的排行榜内,因为那些真正在榜单上的企业,基本上全是清一色的上市企业,因为对媒体来说,因为企业只有上市之后才有“市值”的这个概念。 Generally speaking, the gold content of market value is highest, obtains the estimate value next after actual financing, the Muye Science and Technology 300 hundred million USD estimate values, have made it advance into the world internet industry thoroughly the golden character spire. 总体上来看,市值的含金量最高,得到实际融资后的估值其次,牧野科技三百多亿美元的估值,已经让它彻底跻身世界互联网行业的金字塔尖。 The media of the world are paying attention to the matter of Muye Science and Technology financing, seems previous life Alibaba to go on the market in US (America), the entire world pays attention to his market value to break through 200 billion as well as 3000 hundred million USD critical junctions is the same. 全世界的媒体都在关注着牧野科技融资的事情,就好像上辈子阿里吧吧在美国上市,全世界都关注着他市值突破两千亿以及三千亿美元大关一样。 Overnight, the innumerable media issued the special coverage of big length in view of Series C rounds financing of Muye Science and Technology and Sequoia, suddenly pushed the global hot topic Muye Science and Technology. 一夜之间,无数媒体针对牧野科技与红杉的c轮融资发表了大篇幅的专题报道,一时间将牧野科技推成了全球性的热门话题。 The world major media vary in view of the viewpoints of Muye Science and Technology 330 hundred million USD estimate values, most viewpoints are some shocking, small viewpoints are some natural, minimum viewpoints think that the Muye Science and Technology bubble is too big, big scary, if some day the bubble burst, will become the internet industry biggest news, will trigger the chain-reaction, causes the new round internet bubble burst. 世界各大媒体针对牧野科技三百三十亿美元估值的观点不一,大部分观点是震惊,小部分观点是理所当然,极小部分观点认为牧野科技的泡沫太大,大的吓人,如果有朝一日泡沫破裂,将成为互联网行业最大的新闻,甚至会引发连锁反应,导致新一轮的互联网泡沫破裂。 However, what sound regardless, could not cover Muye Science and Technology in this moment ray, the entire world shifts the body of Muye Science and Technology the vision, was only in Asia, ten hundreds of millions people are paying attention to each step of Muye Science and Technology financing. 但是,无论什么样的声音,都掩盖不了牧野科技在这一刻的光芒,全世界都将目光转移到了牧野科技的身上,只是在亚洲,就有十几亿人在关注着牧野科技融资的每一个步骤。 China people most Muye Science and Technology cheers, in China, the attitudes of ten hundreds of millions population highly is unified, except for proud is proud, does not have other. 华夏民众是最为牧野科技欢呼雀跃的,在华夏,十几亿人口的态度都高度统一,除了骄傲就是自豪,没别的。 Meanwhile, the China people esteem about Li Mu's, hit a new high again. 同时,华夏民众对李牧的推崇,再次达到了一个新的高点。 Li Mu hopes that can make the China internet industry the name card, even is the China national name card, now looks like, he has achieved oneself goal. 李牧希望能做华夏互联网行业的名片,甚至是华夏的国家名片,现在看来,他已经实现了自己的这个目标。 The Li Mu person has not returned to homeland, but home to his report already not only hiding the sky and covering the earth. 李牧人还没有回国,但是国内对他的报道已经不只是铺天盖地了。 Since Harvard university spoke, Li Mu was paid close attention to by the China media in US (America) every action and every movement, and all affairs big or small conducted the track to report, the Li Mu present exposure, even also wants many many compared with the exposure of entire entertainment world internally. 自从哈佛大学演讲之后,李牧在美国的一举一动都被华夏媒体密切关注,并且事无巨细的进行跟踪报道,以至于李牧现在的曝光,在国内甚至比整个娱乐圈的曝光还要多的多。 In everyone hopes Li Mu to be able when this time stood the voice, the person still looked for Lin Qingya in Silicon Valley Li Mu, with being in the Yanjing Kong Lingyu business long-distance asked for round to finance newly the later relevant issue. 就在所有人都希望李牧能够在这个时候站出来发声的时候,人还在硅谷的李牧找来林清雅,与身在燕京的孔令宇商远程讨新一轮融资到手之后的相关事宜。 However, Li Mu comes up first to eject the core idea with two people: „This time we did not discuss that the enterprise development and strategic plan, only discussed two issues, first, staff cash prize ; Second, the staff option pond prepares.” 不过,李牧一上来就先跟两人抛出核心思想:“这次我们不讨论企业发展和战略规划,只讨论两个问题,第一,员工现金奖励;第二,员工期权池准备。” After financing is successful, the Muye Science and Technology estimate value will quickly also continue pull-up, if will have the important strategy development in the next one to two year, then basically can consider to start ipo, once company ipo succeeds, then arrived the shareholder and staff picked fruits, currently the core staff have certain stock, although financing slightly had the dilution, but the overall market value was very encouraging, but this was only a core management personnel, the ordinary staff currently although has various perfect welfare benefits, but the issue of option had not prepared, now looks like, is the time. 融资成功之后,牧野科技的估值很快还会继续拉升,如果在未来一到两年内有重大战略发展,那么基本上就可以考虑启动ipo,一旦公司ipo成功,那么就到了公司股东以及员工摘果子的时候,现在核心员工都有一定的股份,虽然融资略有稀释,但整体的市值还是非常可喜,但这只是核心管理层人员,普通员工目前虽然有了各种完善的福利待遇,可是期权的问题一直还没有准备,现在看来,已经是时机了。 The Li Mu's position is, the company before the listing, must first prepare certain stock proportion to take the option pond, completes the assignment before the listing, in this case, once the listing, the option of staff transforms into the stock of company, can leverage in the stock market good power. 李牧的主张是,公司在上市之前,要先准备一定的股份比例作为期权池,在上市之前完成分配,这样的话,一旦企业上市,员工的期权转变为公司的股票,就可以自己在股票市场行权套现。 Kong Lingyu and Lin Qingya have no opinion to the Li Mu's option pond plan, they followed Li Mu to do more than one year of time, now is the theory worth over hundred million billionaires, worshipped blindly to Li Mu's almost reached a peak. 孔令宇和林清雅对李牧的期权池计划没有什么意见,他们跟着李牧干了一年多的时间,现在已经是理论身价过亿的亿万富翁,对李牧的盲目崇拜几乎达到了一个巅峰。 Therefore, Li Mu set a plan probably, currently he holds the Muye Science and Technology about 70% stocks, this second-rate compared with after diluting 10%, but also is left over about 65%, therefore he is willing to put out 5% stocks to break in the option pond, this 5%, according to the present estimate value, whole over 15 hundred million USD. 于是,李牧大概定了一个计划,目前他持有牧野科技70%左右的股份,这次等比稀释10%之后,还剩下65%左右,所以他个人愿意拿出5%的股份冲入期权池,这5%,按照现在的估值,整体超过15亿美元。 Song Liang is also good, Chen Ze and Xu Jiaming, they are the Muye Science and Technology investors, has the capital to come, they and others does not have the issue compared with the dilution, but option pond Li Mu knows that cannot ask them to carry forward the style again, but Lin Qingya and stocks in Kong Lingyu their hand originally few, if makes them contribute part again, to them is unfair. 宋亮也好、陈泽、许嘉铭也罢,他们都是牧野科技的投资者,有资本进来,他们等比稀释没有问题,但是期权池李牧知道不能再找他们发扬风格,而林清雅、孔令宇他们手里的股份本来就很少,如果再让他们捐出一部分来,对他们来说也不公平。 Therefore Li Mu decided, puts out 5% stock establish option ponds by oneself, then analyzes this 5% stocks, in each percentage point 10 million primitive ways, is divided into the 50 million original stock 5 points stock debts, the 50 million original stock is the staff option pond in entire Muye Science and Technology in the future. 所以李牧才决定,由自己拿出5%的股份成立期权池,然后对这5%的股份进行拆分,以每一个百分点一千万原始股的方式,把五个点的股份债分成五千万原始股,五千万原始股就是整个牧野科技未来一段时间内的员工期权池。 After subscribing the total of option pond, Li Mu requests Lin Qingya to coordinate, formulates an option dispatching rule, must enter the time, according to each staff and other dimensions formulates in company the rank and the contribution in company of duty, the kpi inspection, the special contribution, is clear to meet the different conditions, can obtain many options of correspondence, as well as option good power time needed. 订好期权池的总数之后,李牧要求林清雅牵头,来制定一个期权分配规则,要根据每一个员工入职的时间、在公司的等级以及在公司的贡献、kpi考核、特殊贡献等多个维度来制定,明确出符合不同的条件,可以得到多少对应的期权,以及期权行权所需要的时间。 The 50 million original stock does not calculate a few, therefore Li Mu set the request to Lin Qingya: „Currently our staff only have more than 1000 people, therefore you must in the option to option pond conduct the reasonable assignment, cannot the entire flower go out, thinks that the deposit deposit is the same, must have the control.” 五千万原始股不算少数,所以李牧对林清雅提出要求:“目前我们的员工只有一千多人,所以你要对期权池里的期权进行合理的分配,不能一口气全花出去,就想存款储蓄一样,要有控制。” Lin Qingya nods: „Relax Chief Li, this I understand.” 林清雅点点头:“放心吧李总,这个我明白。” Li Mu said: „My idea is, the present stage first with 10% comes out from the option pond, is 5 million, assigns to our present more than 1000 staff, when our staff break through 3000 people, puts out 10% again, breaks through 5000, then puts out 10%, before we go on the market, we put out 20% again, divides half of option pond, remaining the new colleague who slowly 50% went on the market apportions after and other companies joins later.” 李牧说:“我的想法是,现阶段先从期权池拿10%出来,也就是五百万股,分配给我们现在的一千多位员工,等我们的员工突破三千人,就再拿出10%,突破五千,再拿出10%,等我们上市前,我们再拿出20%,把期权池的一半分出去,剩下的50%就等公司上市之后慢慢分给后期加入的新同事。” Kong Lingyu in video dialogue said: „Boss oss, 1000 people were divided 5 million to be very high, now the value of each stock is 33 USD, almost should in 270 Yuan about, even if a workpoint to 1000, this were also 200,000.” 视频对话中的孔令宇说:“boss,一千人分五百万股已经很高了,现在每股的价值可是33美元,差不多应该在270块钱左右,哪怕一个员工分到一千股,这也是二十万了。” Li Mu shows a faint smile, said: „Made the space, the value of option did not calculate.” 李牧微微一笑,说:“令宇,期权的价值不是这么算的。” Kong Lingyu and Lin Qingya in video look to Li Mu. 视频中的孔令宇和林清雅都看向李牧。 Li Mu said with a smile: „You look, at present although our estimate value 330 hundred million USD, analyze the 50 million share 5% stocks, each truly is 33 USD, before we go on the market, the option does not permit the good power, all staff want to leverage, must wait for us to go on the market, but after waiting for us to go on the market, the value of this option, certainly far over 33 USD.” 李牧笑道:“你看,目前虽然我们估值330亿美元,把5%的股份拆分成五千万份,每一份确实是33美元,但是在我们上市之前,期权是不允许行权的,所有的员工想套现,要等我们上市,而等我们上市之后,这一股期权的价值,一定远超33美元。” Saying, Li Mu is also explaining: „Each original stock of although option pond in present stage value 33 USD, but its actual value, is not spends money to weigh, you must remember, according to the words that we decide, the real value of that each original stock, is 1/1000000000 of company real value.” 说着,李牧又解释道:“虽然期权池的每一股原始股在现阶段价值33美元,但它实际的价值,不是用钱来衡量的,你要记住,按照我们这么定的话,那每一股原始股的实际价值,就是公司实际价值的十亿分之一。” „If our future estimate values continually are raised, then before we go on the market, the market value could achieve 800 hundred million USD, but after waiting for us to be ipo goes on the market, the market value of company may break through 1000 hundred million USD, by that time, is the staff cashes in the option the window, each option original stock, was equal to that a value thousand USD company stock, draws an analogy, if after we go on the market the stock price are 20 USD, then the real value of each primitive option is thousand USD, after we go on the market, each original stock in staff hand, will exchange to become company 50 directly. Stock.” “如果我们未来的估值不断提升,那在我们上市之前,市值或许可以达到八百亿美元,而等我们正是ipo上市之后,公司的市值可能会突破一千亿美元,到那个时候,才是员工兑现期权的窗口,每一份期权原始股,就等于价值一千美元的公司股票,打个比方,如果我们上市后的股价是20美元,那么每一股原始期权的实际价值就是一千美元,在我们上市之后,员工手里的每一股原始股,将直接兑换成公司50股的股票。” Kong Lingyu nods, self-ridicules smiles, said: „Boss oss, I am the hooligan family background, to be honest the method of not too clear option, after particularly listing .” 孔令宇点了点头,自嘲一笑,说:“boss,我是野路子出身,说实话不太清楚期权的玩法,尤其是上市之后。” Li Mu said with a smile: „Does not understand importantly, completes that's alright the business that you should be responsible, this may not according to the rule of industry, we be able to decide.” 李牧笑道:“不懂不要紧,把你该负责的业务做好就行了,这一块也不一定要按照行业的规则,我们可以自己定。” Lin Qingya asked at this time: „Chief Li, if we having 50% of option pond divide, then after we went on the market, option pond remaining how should 50% operate? Also direct conversion the stock of company?” 林清雅这时候问道:“李总,如果我们把起期权池的50%分出去,那么等我们上市之后,期权池剩下的50%该怎么操作？也直接转换成公司的股票吗？” Li Mu nods, said: „Right, before the listing, we give the staff the option, after the listing, we gave the staff directly the stock. In the future according to me will suppose a moment ago, after we go on the market total capital stock altogether 5 billion, in that option pond remaining 2.5%, turn into 125 million company stocks directly.” 李牧点了点头,道:“没错,上市前我们给员工期权,上市后我们就直接给员工股票了。将来按照我刚才的假设,我们上市后的总股本一共有五十亿股,那期权池里剩下的2.5%,就直接变成1.25亿公司股票。” Saying, Li Mu was also saying: „After we went on the market, to attract talent, we must formulate in one top talent to enter the stock quota after company, for example, the p7 technician comes , we salary, again to 5000 company stocks, 5000 possible values dozens and over a million, but these 5000 good power must have the time limit, divides several years of good power, taking advantage of this comes for a long time with the company binds in the talent together.” 说着,李牧又道:“等我们上市之后,为了吸引人才,我们就要制定一个中高端人才进入公司后的股票配额,例如,p7的技术人才进来,我们除了薪资待遇之外,再给五千股公司股票,五千股可能价值几十、上百万,但是这五千股的行权要有时间限制,分几年行权,借此来把人才更长久的跟公司绑定在一起。” The Lin Qingya nod said: „Understood Chief Li, we set three years the line authority deadline when the time comes, the staff is entering the duty officially one year later can have good power opportunity a time, the good power total amount can not surpass 1/3 of total share-holding number ; Full two years of again power 1/3 ; Full three years of good power remaining 1/3.” 林清雅点头道:“明白了李总,我们到时候就把行权总期限定为三年,员工在正式入职一年后可以有一次行权机会,行权总额不得超过总持股数的三分之一;满两年再行权三分之一;满三年行权剩下的三分之一。” ...... …… ps: For those not tired good, tonight owes everyone one chapter, tomorrow will strive to make up. ps:累到不行,今晚欠大家一章,明天争取补上来。
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