Chapter 309 Listing

Chapter 309 Listing

Chapter 309 Listing
Long flights can easily make people tired.

Interesting chats, analysis of the pros and cons of the project, silence when the enthusiasm fades, and drowsy time.

When Yu Xing woke up, the plane had already arrived in the United States. After a cup of bitter coffee, he regained his spirit and prepared to engage in intensive work.

For fear of changes, Morgan and Goldman Sachs arranged a total of 14 meetings during the one-week roadshow, and the work intensity was quite high.

The flight was about to end and everyone's spirits gradually became high.

Xiong Xiaoge and Xu Xin were chatting about industry gossip.

Zhong Zhiling and Liu Hao discuss the follow-up development of Bai Xiaosheng.

Song Yufeng fantasized about the moment when the bell would ring.

Liu Jiankai's eyes rolled occasionally.

Yu Xing stretched, stood up and turned around, noting everyone's condition.

"The flight was too long. My head started to hurt when I thought about having to sit for so long on the way back." He sat down again and said to Liu Wanying.

"Look at the materials, think about the funding, or practice speaking." Liu Wanying smiled and said, "If that doesn't work, think about something more difficult, such as how to make the domestic electric vehicle supply chain more powerful."

Yu Xing felt that the effect of the second half of the sentence was quite immediate.

He took two sips of water and shook his head, saying, "I won't watch, think or practice anymore. I've watched and thought too much recently, and speaking is not something that can be mastered overnight."

While Liu Wanying was looking through the projects she had invested in with Red Falcon, she asked a related question: "How is the APP made by Zhai Yifei going?"

"Not very good, it's almost dead." Yu Xing replied, "He wanted to do a different kind of information exchange, and then, in the past few months, he made something similar to a big forum. I guess the money I invested will go down the drain."

Liu Wanying looked at Yu Xing with surprise.

Yu Xing shrugged: "It's not a lot of money, I'll try it out, I won't feel bad."

Xiong and Xu in front heard the noise.

"How do you say information exchange?" Xu Xin wondered.

Yu Xing briefly introduced the decentralized information model, then shook his head and said, "Zhai Yifei came from Baidu, but I feel that he is a little too gentle when starting a business. I watched him do the project process, um..."

"A very important issue is that the decentralized information model requires a recommendation algorithm, because it is not people who are doing the screening. However, the algorithm also needs to have something to calculate and be able to push it to the customer."

“Without content and customers, the single-speaking model is difficult.”

Yu Xing emphasized again: "Besides, Zhai Yifei is too gentle."

Xu Xin pondered for a moment and said with a smile: "Mr. Yu, have you noticed that you are much more confident when talking about the Internet?"

She provoked him a little: "He is a senior executive from Baidu. If you think he is not good enough, then you can do it!"

Yu Xing sneered, not provoked, and asked Xiong Xiaoge: "Boss Xiong, am I not confident when I talk about electric cars and supply chains?"

"They are all confident, but... electric cars and supply chains are more restricted by the status quo. Mobile Internet is different. It is full of vitality and has more room for trial and error. As a result, they are less cautious and naturally appear more confident and calm." Xiong Xiaoge gave a serious look.

Yu Xing raised his eyebrows: "You really think highly of me. To be honest, I think this approach is right, but I really don't know how it is done. Last time I felt that the big fish ate the small fish, and now I am also observing how it is eaten. At least, I already know that Zhai Yifei's approach is problematic."

When Xiong Xiaoge heard this, he recalled the last time he discussed the development of super apps with Mr. Yu at the Alibaba headquarters. At that time, he felt that there was some truth in this.

Now seeing him observing the movements in the mobile Internet track in this way, isn’t this also a serious investigation?

However, this kind of research may be done through investment.

"What do you think of the two companies I invested in?" Liu Wanying handed over the materials in her hand and said with a smile, "It was just finalized a few days ago. The two angel rounds each invested 100 million US dollars."

One million US dollars is not a lot, but for a startup project, it is not a small amount either.

Yu Xing glanced at the names of the two projects. He had no impression of the first one, but the second one was very famous.

He quickly flipped through it and then asked in surprise: "How did you invest in this Momo? Why did you consider investing in it?"

"Do you think it's a good idea?" Liu Wanying introduced. "The core team came from NetEase. The founder Tang Yan is the editor-in-chief of NetEase. The product manager Lei Xiaoliang used to be in charge of website product coordination. The technical manager Li Zhiwei is also said to have strong technical capabilities. They just created the project last month, and then I went to talk to them. They have already contacted Zihui Venture Capital and didn't plan to look for a second one."

Xiong Xiaoge and Xu Xin's expressions became focused, and they were very interested in the situation in their industry.

Liu Wanying said seriously: "Then, I told them, if they don't let me invest, I will ask Yu Xing to make a similar product, and then invest the money in Yu Xing."

Yu Xing: “…”

Xu Xin couldn't help laughing: "Is this possible? They believed it? They just obeyed like that?"

"They don't believe it. According to Tang Yan, he thinks Yu Xing is not that kind of person and would not be so shameless. I don't know if Tang Yan really thinks that." Liu Wanying smiled and said, "I told him that Yu Xing has been driven crazy by Penguin in the competition with Penguin. He has been corrupted by Penguin. If you want to blame someone, blame the penguin."

Xiong Xiaoge laughed out loud.

Xu Xin couldn't help laughing.

Yu Xing didn't know that Xiaoying could use such a banner when investing abroad, but when he saw Mr. Xu smiling happily, he was instantly relieved. When everyone is out and about, who can know what banner someone is using?

Liu Wanying finally said: "Tang Yan probably still recognized Yu Xing's ability to achieve the level of WeChat. After much deliberation, he accepted the investment from Hongshun and paid $100 million for 10% of the shares."

Xu Xin was about to speak when something funny happened again and she laughed so hard that she fell forward and backward.

"That's enough, Mr. Xu," Xiong Xiaoge said, "You're almost laughing to tears."

Xu Xin wiped his eyes with the back of his hand and smiled, "I remembered that Mr. Yu just said that Zhai Yifei was too polite when starting a business. Tsk, Mr. Liu immediately explained what ungentlemanly meant. Hong Xuan is good. No wonder he can be a top-notch horse."

Liu Wanying is not proud of such a label: "Mr. Xu, that's not right. Hongshun is just taking shortcuts. Besides, investing is one thing, and getting a profit is another. Momo is a stranger social network, and I think the risk is also high."

When Xu Xin and Xiong Xiaoge heard the word "social", they immediately understood the risks.

They didn't continue to ask about the project, they just thought this way of forcing investment was interesting.

Yu Xing flipped through the documents carefully again, but did not express his opinion in public. He nodded slightly to Xiaoying and handed the documents back. The topic returned to Zhai Yifei's app development. He said thoughtfully: "If the super app wants to be successful and Zhai Yifei wants to succeed in the information direction, the foundation seems to need to be built on the two aspects of users and content. His thinking is wrong."

"Zhai Yifei is now trying to carve the 100-point algorithm out of a 50-point cake to 70 points, but given the speed of mobile Internet development, he should first find an opportunity to make the cake 300 points, and then increase the proportion."

Xiong Xiaoge shook his head: "Then the question is back to the old path. How can a super app compete with giants like Penguin, Alibaba, and Baidu for users?"

The passenger plane landed at New York's international airport as Yu Xing was silently thinking.

Yu Xing didn't think of the answer, but when he stood up and saw Xiaoying, he suddenly thought of the forced investment she had just mentioned, and many thoughts suddenly came to his mind.

He held Liu Wanying's hand and muttered as they walked: "Xiaoying, I think I'm getting some results."

Liu Wanying: “Hmm?”

"Without investigation, you have no right to speak. Just like I don't know the situation if I don't spend time investigating the electric vehicle supply chain, you should call the domestic market today and ask them to investigate the situation of the small fish in the domestic mobile app market." Yu Xing's eyes flickered. "There is no reason why we can't make progress in this direction. The big fish eating the small fish is your uncivilized way of eating."

Liu Wanying felt confused, but still agreed.

Yu Xing smiled and said, "Penguin needs capital + traffic for its transformation at the beginning of the year. This idea makes sense. When we return to China, we will try the Star-sucking Method." After hearing this, Liu Wanying felt that Boss Yu had almost used up all he had learned in his life. In just a short period of time, there was research from the supply chain, investment that seemed to be in the Xu style, the rudeness of Red Falcon's initial trial, and a peeping at it when it was facing off against the giants.

He mixed these things together and named them... Star Absorbing Technique.

Liu Wanying has not conducted a comprehensive research on the current mobile Internet market situation, but she has been paying attention to projects in this area these days and has a general feeling that it is quite confusing.

She suppressed the last thought, only feeling that the chaotic situation and the Star-Absorbing Technique were inexplicably in line with each other.

The group from Bai Xiaosheng arrived safely at the Park Hyatt Hotel in New York where they were staying.

It was Yu Xing’s first time in the United States, and it was quite fresh to him. At least, there were so many foreigners…

"Mr. Yu, I thought seriously about the positioning of the tram on the way. Maybe I just made a judgment based on my intuition. You and Mr. Xu have done market research to varying degrees. You are better than me in this aspect." Xiong Xiaoge grabbed Yu Xing who wanted to go to the hotel to adjust to the jet lag, "I reserve my opinion. When I return to China, I will also see what users really think and whether it is a real demand or a false demand."

Yu Xing smiled and said, "Boss Xiong, you are indeed a top-notch horse."

Xu Xin walked past quietly and went to adjust to the jet lag.

Xiong Xiaoge stretched out her right hand and said, "Mr. Yu, thank you for your hard work this week. I won't go with you. I'll just go visit my old friends here."

He went abroad to study in the 1980s and is very familiar with the United States, and he has many friends and colleagues here.

Yu Xing was not that surprised. He already felt that Mr. Xiong just wanted to talk to him about trams. Of course, he might also take a vacation at the same time.

He saw Mr. Xiong off and returned to his room. After a tender and sweet conversation with Xiaoying, he felt better at adjusting to the jet lag.

Work began immediately at nine o'clock the next morning, and Yu Xing experienced the first roadshow of his life.

According to the suggestions of Morgan and Goldman Sachs, the initial price range of Bai Xiaosheng is more appropriate at US$10-12 per share, which means that the company's overall market value is between US$7.1 million and US$8.5 million. The final issue price requires collecting intention orders from institutional investors during the roadshow, and then determining the price based on the over-subscription multiple.

The roadshow schedule is very tight, and there is pressure from the overall environment for this listing.

However, Bai Xiaosheng also has good news. First, the growth rate in the first half of this year was very impressive, and the strategic direction was verified. Second, there is a benchmark company that is easily understood by American institutions - LinkedIn.

As a social platform for the workplace, LinkedIn just went public in May this year with an issue price of US$5 per share. It soared as soon as it opened, with the opening price rising 45% from the issue price to US$84.4. Its intraday high reached US$83, and its market value once exceeded US$122.7 billion. It fell back to US$100 in late trading, still up 94.25% from the issue price. The market value on the first day was locked in at US$109.44 billion.

Such intraday gains set a new record for the first-day performance of global Internet companies' IPOs since Google's listing in 2004.

The concept of Bai Xiaosheng’s listing this time is - the Chinese version of LinkedIn.

Yu Xing was very nervous during his first roadshow. He himself was fine, but he was worried that he would disappoint the expectations of the company's employees. Fortunately, the translator was very professional and knowledgeable. On the one hand, he accurately conveyed each other's questions and answers, and on the other hand, he constantly comforted the nervousness of the founder of Bai Xiaosheng.

The first half felt rather stiff, but in the second half it started to feel like a normal discussion and Q&A.

After the first roadshow ended, Yu Xing answered Liu Wanying's questions.

"It feels okay. Anyway, I'm speaking Chinese. I suddenly thought of something. This scene seems to be worse than the night when I went to Lin'an with Mr. Xiong to find Ma Dian. That was also a deal worth hundreds of millions of dollars. Well, when I thought about it, my mind suddenly opened up."

Liu Wanying gave a proud hug.

However, they did not have much time to feel the emotions, as the second roadshow started again at a different location in the afternoon.

The institutions have similar positions in all events, which are nothing more than traditional issues such as market competition, growth potential, and profit model.

After these two events, the roadshow quickly turned into a physical job.

One week, seven cities, fourteen meetings, flights and trains, with delays in between.

By the end, Yu Xing no longer felt nervous, he just felt numb.

On August 8, all roadshows ended. Goldman Sachs analyzed the order data and believed that the accumulated intended orders in this round had reached 17 times, and recommended the issue price to be set at US$3.

Bai Xiaosheng accepted this suggestion, which meant that the process was quickly pushed forward and the final listing time was set on Wednesday, August 8.

Yu Xing got some rest time. Since it was a rare trip to the United States, he naturally had to bring some souvenirs for his family. This task was given to Xiaoying.

In addition, seeing that Liu Jiankai was fine, he privately asked him for a favor.

"Mr. Liu, you are very good at English and you have time now. Please help me find a suitable way to find a senior brother who came here two years ago." Yu Xing smiled and told Liu Jiankai about the problem he encountered.

Liu Jiankai is good at English, but he was at a loss when he heard such a question. He could only reluctantly agree: "I'll try. This... this should be a private detective. I'll go around and ask."

Yu Xing was looking forward to Liu Jiankai bringing back good news, however, there was no feedback until the day of the official listing.

August 8rd, an ordinary Wednesday.

A group from Bai Xiaosheng arrived at the Nasdaq Stock Exchange.

Yu Xing was wearing a rare suit and tie, and he looked very energetic.

Nasdaq's bell ringing is an electronic button, which triggers the bell animation and sound effects on the hall screen when pressed.

Yu Xing invited Liu Hao, Zhong Zhiling, Song Yufeng and Xu Xin to press the button together.

Xu Xin was surprised to receive the invitation.

Yu Xing expressed his gratitude to his mentor at the time of the listing: "Mr. Xu, no matter how many disputes we had in the past, I thank you from the bottom of my heart for your support and affirmation. I hope we can have closer cooperation in the future."

Xu Xin was really excited. The man named Yu finally became a human being!

Five people pressed the button together, and the exchange was filled with the sound of the listing bell and warm applause.

Regardless of the market value or stock price performance, this represents that a company continues to achieve recognized results in its field and eventually becomes a global listed company.

Bai Xiaosheng was successfully listed.

Yu Xing looked around with a smile on his face.

Liu Hao cried, because what he failed to do at Zhaopin.com was accomplished by Bai Xiaosheng.

Zhong Zhiling also cried. He didn't expect that it would be so difficult to walk from the campus to the exchange.

When Song Yufeng saw the two of them crying, he squeezed his eyes and forced out two hot tears.

Yu Xing felt emotional, but before he could comfort him, Liu Jiankai on the other side burst into tears.

"Mr. Liu, you..." Yu Xing was shocked.

Liu Jiankai staggered over and cried, and hugged Mr. Yu with great sadness: "I won't play anymore! My money! Mentougou, give me back my money, I won't play anymore!"

Yu Xing gently patted Liu Jiankai's shoulder and whispered, "Boss Liu, don't be sad. I'll treat you to a burger, too. Don't cry. I'll definitely give you enough burgers."

Liu Jiankai cried even more sadly.

Liu Wanying looked at this scene and took a photo casually. Well, she bought at the bottom.

(End of this chapter)