To put it bluntly, it all depends on fate. For entrepreneurs, finding investors is like finding a partner, with the same values ​​and consistent temperament.

When we meet for the first time, we can only look forward to our eternal life and support each other.

A tall and powerful international big-name fund is like a rich and beautiful woman. No one is flocking to it, but they have high vision and strict conditions. They sign various priority and jingling terms with you before marriage. Even if they divorce later, you will not enjoy any benefits.

Before getting married, the white, rich and beautiful suitors were from Xierqi to Zhongguancun. Want the goddess to give you more attention and resources?

Sorry, I don’t have that much energy!

Unless you are really a handsome guy with a unicorn temperament, your big work is so clingy, but that may be something that happened after round B and round C...

Let's wait!

Chen Feng stood by the window and looked at the busy capital. Although he had golden fingers, his future was still unknown.

There are two mountains pressing on their heads. Alibaba and Tencent have a market value of more than 550 billion US dollars. Together with the direct and indirect controlling companies, it is a behemoth of 4 trillion yuan.

Then there is Meituan, with a market value of 90 billion US dollars, and it is immediately a unicorn of 100 billion US dollars, far exceeding Baidu's 40 billion, becoming the third largest giant.

It can be said that on the one-acre and three-point land of the domestic Internet, any company with a valuation of more than one billion US dollars will inevitably be related to the two giants.

Or cooperate,

Or it's a competitor,

There is no third way!

Tencent has invested in more than 700 companies in the past decade, of which 63 have been listed, and 122 have market value or valuations of more than US$1 billion.

The assets invested in Alibaba’s strategic investment have been worth hundreds of billions of dollars.

There is even a saying in the circle: When a company reaches a certain scale, it must learn a compulsory course, which is how to kneel down and lick rich dads!

From another perspective, excellent Internet startups are prey to some extent. The two giants hold abundant capital and resources, and each hunts and competes for food.

Didi merged quickly back then, and their management teams called Tencent's Liu Chi-ping and Alibaba's Cai Chongxin in two rooms to report the negotiation progress.

AT is like the gods in the sky, the gods are watching the war on earth!

Didi and Kuaide once spent billions of dollars in the travel market,

In the local life field, Tencent-supported New Meida and Alibaba-supported Ele.me have been fighting for a long time.

In the social field, Weibo and Momo were once important tools for Alibaba to curb WeChat.

In order to prevent the other party from interfering, the exclusive agreement and veto of the prey they snatched by themselves became a routine operation.

The result is that Alibaba and Tencent rarely appear on the board of directors of the same Internet company.

When you are qualified to take the team, the founder must choose one from it. How to choose is really a knowledge.

Chen Feng sighed. As a trillion-dollar boss who has not yet grown up, sooner or later, he will have to face the same choice sooner or later. Starting an Internet traffic entrepreneurship is the path you are unswervingly taking, and this is the general trend.

Fortunately, my college years have not been abandoned. Although I am not from a prestigious school, my foundation is quite solid, but my horizons and insights have not been opened yet.

So I am very interested in the gossip rumors in the circle. Although I just look at the leopards, everything is full of wind and waves, and I can see some tricks behind it.

In 2014, WeChat has used Didi's crazy expansion, and Alibaba supports it quickly to launch a subsidy war of more than one billion yuan. When the two sides reached the most intense battle, Cheng Wei said that Didi burned 200 million yuan in one month, and his hands were shaking when he signed the contract.

Around this year's Spring Festival, SoftBank plans to invest in many cars, which is the parent company of Guazi Used Cars.

The news came out that the founder of another used car platform in China, dazzled to Alibaba's headquarters and sought help from CEO Xiaoyaozi.

On this track with a heavy model, Tencent bets on Renrenche and Guazi one after another. Although Alibaba is cautious, it also invests in Dashuoche. If there are dates but no dates, it will hit two shots first.

Corporate venture capital fund, referred to as CVC.

For giants like Alibaba and Tencent, their revenue data are excellent and their cash flow is abundant, so their financing capabilities are far higher than ordinary VCs, and they all have an extra capital C for their names!

There is only one principle:

Would rather kill the wrong one,

Don't let it go!

The killer weapon is leading the investment. Even experts in the circle can judge the position of a project in the minds of both parties by whether the two companies lead the investment.

The benefits are very obvious. You will write the first contract, and the agreed things will definitely be the most beneficial to you.

The second price is set, and the person who wants to enter later must follow your price.

Third, you have a board seat and have more control over the company after the investment.

The consumer Internet field believes in the 28 rule. The first place in the industry usually has 80% market share, and the second place is only about 20%. The players ranked behind basically have no chance.

The battle has always been with me but you, so be careful and defended. After leading the bid, the usual weapon is exclusive agreement and veto.

Of course, the two giants also misunderstood. In 2016, Tencent led the investment in Xiaohongshu's B round and evaluated it internally as a simple community.

At that time, I didn’t think about the model of content e-commerce, so when signing investment terms, I didn’t even ask for a veto?

The lack of veto power has given Alibaba's chance to discover treasure digging, because Zhihu and Xiaohongshu are both Tencent's layout in the community field, and have a large amount of high-quality content that requires long-term accumulation and high barriers.

Content diversion has proven to be an important way to obtain traffic, so Taobao has paid great attention to content in recent years and is very eager for the top content community.

So Alibaba followed the trend and tried hard to hook up with Xiaohongshu. Finally, in 2018, it announced that it had received US$300 million in financing led by Alibaba, becoming one of the few Internet companies that invested in both Tencent and Alibaba.

Bai Fumei successfully cheated on two big guys!

In Shen Feng's view, the higher the quality of the project in the future, the less likely it is to get both sides together.

After Cheng Wei made the decision to ask Tencent to lead Didi's B round of financing, Didi angel investor Wang Gang returned to West Lake from Beijing overnight and reported the decision to Alibaba, begging the other party for approval, and after many twists and turns, he received acquiescence.

To be fair, I appreciate Penguin's style more, low-key and not strong. Just look at the styles of the founders Ma Tengfei and Ma Yun, you will know that Lao Ma wishes to show off all day long. When did Xiao Ma take the initiative to speak?

Make a fortune in silence!

It has specifically analyzed two different roles. Alibaba is a traffic consumer, a monetization end, and a strategic investor that exclusively occupies resources.

I hope everyone will submit their traffic and monetize it on Alibaba's platform. I don't want the invested companies to monetize it in places like Pinduoduo.

Just like the sun, I want to suck everything over and turn it into my own.

As long as it is an acquired project, the team can stay, the project can continue, and the policy can be maintained, and there is only one condition...

The founder must get out!
Chapter completed!