It is not uncommon for Song Liang to know that Li Mu is building a website. After all, Yiting.com's early funds were earned from the four people in the simple plan. With Song Liang's relationship with them, this matter is not a secret at all.

Li Mu did not hide this and nodded and smiled: "I set up a music listening website in July and August, and then I set up another post bar some time ago."

Song Liang said: "I heard that these two websites are very popular now and have a lot of traffic?"

Li Mu said: "It's not bad, but the current traffic is far from reaching my goal."

Song Liang asked: "When the website develops to a certain level, the cost of investment you need to invest should also become very large, right?"

Li Mu said: "Yes, after reaching a certain level, investment in all aspects will grow by a geometrical multiple. A small website, the initial server and bandwidth investment will only cost a few thousand yuan a year, but if it develops quickly, the cost of this aspect alone will not be able to stop it a few million a year."

Li Mu thought of future video websites. They will pay huge costs for server space and bandwidth in the future. This cost is so great that it is almost unimaginable when it comes to current Internet companies.

Song Liang asked Li Mu: "Then, the more you will be able to support yourself, the more difficult it will be, right?"

Li Mu nodded and said, "I feel it's hard now, so I've started to discuss financing now."

Feeling that Song Liang seemed to be very interested in this matter, Li Mu asked tentatively: "Brother Liang, if I talk about the A-round financing, there will be a large company leading the investment. Are you interested in following up and having fun?"

Song Liang's eyes lit up and asked, "Would you like to let your brother come in and dilute your shares?"

Li Mu felt that people like Song Liang were very keen on him. He also had vision, ideas, and helped him a lot. If the two of them could reach a community of interests in the future, they would probably do many things that they could not do alone, so he also wanted to let Song Liang participate in the business of Yiting.com and Tieba.

Besides, I have always been jealous of the real estate development in Yanjing, Shanghai and even Yangcheng, and Shenzhen. However, I don’t know much about real estate. However, if Song Liang is here, the two of them may be able to drink two sips of porridge and grab two steamed buns in the future real estate field. So at this time, dilute some of my shares and let Song Liang participate is undoubtedly a good thing that is beneficial and harmless.

So, Li Mu put out his olive branch: "Brother Liang, let's be honest. Originally, I was only going to dilute 10% of the capital in the round A, but if you are really optimistic about this and are interested, I can prepare you five points of shares for you in the round A, and then you will follow the investment behind the capital and enjoy the same treatment as the capital led."

The same treatment means that when investing, you can enjoy the same valuation, cash out, increase or decrease in holdings and other benefits.

For example, when Li Mu chooses a capital party, he will give a certain advantage based on the capital party's resources.

For example, if a company with resources like Baidu invests in it, it can give them a 30% discount on the psychological price because their resources are strong. It can make the businesses of Yiting.com and Tieba develop faster. However, if it is an ordinary investment bank, Li Mu will not give them a discount, or even raise the price, such as giving them a 13-fold coefficient.

If Li Mu negotiated Baidu's A round, Baidu would definitely get a relatively low price, but if there were other capitals for follow-up investment, it would not be so good. However, generally speaking, follow-up investors have hope for the project and see big companies leading the investment. Even if they can't get the same treatment as the lead-up investment company, they will still choose to follow-up investment and strive for a future.

The treatment Li Mu gave Song Liang was even if he followed the investment and could enjoy the conditions for leading the investment. Treating everyone equally can be said to be a great discount.

Although Song Liang does not work in the Internet, he understands financing and investment very well. As soon as Li Mu said this, he knew in his heart that this younger brother was not in vain. Although the shares sounded only 5%, it was already very good for him, who did not understand the Internet at all and followed the car to gain a future.

So, Song Liang said, "Brother, don't regret it. Brother, I am really interested in the Internet, but I don't know how to get in. If you are really willing to dilute the shares of 5 points to me, I will collect them without hesitation?"

Li Mu smiled slightly: "Brother Liang, since I said it, I will definitely not regret it. Moreover, this is the A round. If the valuation is increased in the B round and you want to cash out and leave, I will communicate with investors and ask you to cash out first; if you still want to invest in the B round, I will give you the same treatment at that time. We will negotiate the specific points at that time."

Li Mu's words were equivalent to giving Song Liang a guarantee.

The A round comes in at a valuation of tens of millions. When the valuation of the B round increases several times, or even more than ten times, if Song Liang wants to leave, Li Mu will definitely help him and ask him to transfer his shares directly to the B round investors, ensuring that he can withdraw all the principal and profits.

When Song Liang heard this, he was amazed at Li Mu. This kid is young, how could he have such an in-depth understanding of capital? If he hadn't been face to face, he would have thought he was chatting with a venture capitalist in his thirties or forties.

However, Li Mu's words also made Song Liang very happy, and he immediately said, "Brother, then I won't be polite to you! When you talk about the A round, I will directly follow up in my personal name!"

"Okay!" Li Mu smiled slightly. Both of them were very clear-minded. Li Mu wanted Song Liang to get on the bus, and Song Liang himself also wanted to get on the bus, so he hit it off and got on the bus together to see the scenery.

Song Liang's mind was not about seeing the scenery at this time, he just wanted to take Li Mu's bus. No matter whether the bus could make money in the end, he didn't care. He just felt that he should have a certain bond with Li Mu at the level of interests, which would give the two more possibilities in the future.

Thinking of this, Song Liang said again: "Brother, I have taken a new piece of land, less than three kilometers southeast of the city, Sanpailou, have you heard of it?"

Li Mu nodded. Sanpailou is not famous yet and will be a new residential area in Haizhou in the future. With the future development of the city, the urban area will continue to develop in the southeast. In the next few years, it will become the most expensive place in Haizhou.

Song Liang said: "This land starts construction at the beginning of next year, and there are many shareholders. I won't introduce it to you one by one. But brother, I am the major shareholder. If you are interested, I personally will give you five points. What do you think?"

Li Mu said: "Brother Liang, you can develop a real estate project at most hundreds of millions, and five points can be at least several million. I'm afraid I can't afford it!"

Song Liang smiled slightly: "What you are talking about is the total cost. The start-up capital is not that high, tens of millions are enough. The rest depends on bank loans and internal pre-sales."

Li Mu asked puzzledly: "Internal pre-sale?"

"Yes." Song Liang smiled and said, "There are many shareholders in a real estate project, and there are many people who want to participate in the shares with money but cannot participate. After our project is started, in order to recover funds as soon as possible, a certain proportion of housing will be given to these people in advance, so that the funds will be returned as soon as possible."

Li Mu nodded and smiled, "Thank you Brother Liang for your kindness, but I don't dare to say the specifics now, so let's keep it for me first. If I can get out then, I'll come to Brother Liang, you will get involved."

Song Liang laughed and said, "No problem, I can lend it to you if you don't have enough cash at that time."

Since the two of them had coincided with their ideas and they both hoped to be tied to each other to a certain extent, the meal between them was particularly pleasant.

Li Mu thought that his Yiting.com and Tieba were both personal and that if he talked about A round, he would definitely be corporate. Instead of getting in front of him and getting blind, it would be better to do this first, so he prepared to take time back to Yanjing to register a company before talking about it.

However, the industrial and commercial departments are now on holidays, and registration will take place after National Day. However, you can go to Yanjing to find a special agency to help, which can save a lot of trouble.

Song Liang was always curious about what psychological expectations Li Mu had about the valuations of Yiting.com and Tieba. Li Mu said lightly: "Depending on different investors, the valuation should be between 5 and 80 million."

Song Liang was completely stunned: "So tall?"

Li Mu nodded: "This valuation is not actually high."

With the current development momentum of Tieba, if you conduct a round of financing in October or November, then with the size of millions of registered users and millions of daily active users, you can get at least tens of millions of valuations. Internet valuations have a lot of redundant space, because the Internet has never seen the current profitability, but the future development prospects. Simply put, it is just two words: "concept."

In the future, websites like Kaixin.com can get millions of dollars in round A financing, which means that the valuation will inevitably reach the order of tens of millions of dollars in round A. The valuation will be 20 million US dollars in round B. The valuation will exceed 100 million US dollars. In other words, in just a few months when the valuation of round B, the valuation will rise several times or even higher, which shows the importance of the concept.

When the school network is popular, the valuation will be one price per day, and when it is high, it can be scary. However, like Kaixin.com, it is a frustrating thing that will come to an end in a few years. However, music listening will be popular for at least five to eight years in the future, and Tieba will be popular for fifteen to twenty years. If these two major products are just prototypes, eye-catching investors will give a very high valuation.

Song Liang was obviously scared by this valuation. He could not convince himself to believe the feasibility of this valuation, but he didn't care too much. Anyway, as long as there is capital to lead the investment, he will definitely follow up. He doesn't understand the Internet, but the capital side will definitely understand, let alone, he believes that Li Mu, even if he invests millions in him, he will not frown. (To be continued.)
Chapter completed!