MTL - The Science Fiction World of Xueba-Chapter 462 Sequoia Capital
Sun Yansheng came to Pang Xuelin and talked about the acquisition of Scooper.
As a supplier of video decoding chips, Scotsberg's overall technical capabilities are still very good.
Scooper was founded in 1988. It is self-positioned as a semiconductor company, more accurately, it should be a semiconductor design company. Such a start-up company is obviously impossible to have its own new film production capacity, which can only be maintained by its early investor Texas Instruments. OEM products.
In the early days of its founding, Scobo's development direction was image decoding chips. It was not until 1991 that the first video decoding chip was launched.
However, although the technology is very novel, Scooper has not been able to find an accurate application direction for its own products.
Until the emergence of Jiang Wanmeng, Sun Yansheng found the direction of Scooper through Wan Yan VCD.
Who ever wanted to kill a star ring technology halfway, not only completed the patent registration of the whole machine, but even in the field of video decoding chips, it was a generation ahead of Biskoppel.
It can be said that the road that Scooper will go directly is blocked.
The reason why Sun Yansheng was hesitant to sell Scooper to Pang Xuelin was mainly to see how the market performance of Star Ring CVD was.
If the performance is good, then the Wanyan foundry co-founded by him and Jiang Wanmeng has a bright future. He can divest Scotiaberger's assets without hesitation and put all his energy on Wanyan.
If the performance is not good, then he has to consider carefully the Scooper he has created painstakingly, or not to be handed over to Pang Xuelin.
As a result, since the launch of Xinghuan CVD on the mainland a month ago, it has instantly become the explosion point of the consumer electronics market, and its popularity has far exceeded his expectations.
In the first month of listing, Xinghuan's total CVD sales exceeded 60,000 units, with total sales exceeding 300 million.
The Luzhou factory, which originally belonged to Wan Yan, has been fully expanding its production capacity and is still in short supply.
Every day, distributors from various regions lined up with Star Ring's note to the Luzhou factory to purchase goods.
As a result, Sun Yansheng suddenly let go of his heart.
Want to know that Wanyan Company has signed a long-term OEM order with Xinghuan Technology, and it is not surprising that CVD / DVD series DVD players have a market prospect of at least more than ten years. Such stable revenue is at least better than that of unknown future Scopold is much stronger.
Because of this, Sun Yansheng finally made up his mind to transfer Scorpion to Pang Xuelin.
But this trip to Beijing was accompanied by Sun Yansheng and a blonde foreigner.
When Pang Xuelin saw the golden hair beside Sun Yansheng, he couldn't help but wonder a little: "General Sun, who is this?"
"Mr. Pang, I forgot to introduce you to you. This is Mr. Benson Raphael of Sequoia Capital. When I started Scooper, Sequoia had an investment. At present, I personally hold Scooper Fifty-six percent of the company's shares, Sequoia Capital holds 32 percent, and the remaining 12 percent is jointly held by the company's executives and technical backbones! "
Pang Xuelin smiled: "It turns out so."
The foreigner looked at Pang Xuelin curiously and said to Sun Yansheng in English: "Mr. Sun, this young man with no hair is the founder of Xinghuan Technology? Are you kidding me?"
Sun Yansheng was a little embarrassed and just wanted to reply. Pang Xuelin said lightly in English: "Mr. Rafael, Bill Gates dropped out of Harvard University at the age of twenty, and when he founded Microsoft, it seemed that he was not much bigger than me?"
Benson Raphael was surprised for a moment, apparently did not expect Pang Xuelin to speak English, and the accent is so skillful.
The contemptuous expression on his face suddenly calmed down, embarrassingly: "Mr. Pang, I'm sorry, I'm just curious about your age."
Pang Xuelin nodded and smiled, "Then please, let's sit down and talk."
The three of them sat down in the cafe downstairs and asked for a cup of coffee. Pang Xuelin said with a smile: "Mr. Sun, have you considered the sale of Scobo?"
Sun Yansheng said with a smile: "I basically think about it clearly. After the shares of Scobo are sold, I will put all my energy on Wan Yan in the future, and I also ask Mr. Pang to take care of the business in the future."
Pang Xuelin said with a smile: "This is nature!"
Then, Sun Yansheng started to introduce Pang Xuelin's current patents and assets of Scotiaber in the United States.
At present, the total number of employees of Scotiaber in North America exceeds 500, and two-thirds of them are R & D personnel.
In addition to video decoding chips, the main products have also developed some chips used in TVs, printers, game consoles and other fields, but they are not particularly successful and can only barely maintain the company's operations.
Although not much money is made each year, at least there is no loss.
For Pang Xuelin, this is equivalent to high-quality assets.
As long as Scooper is acquired, Starring Technology is equivalent to having a bridgehead in Europe and America.
In the future, it might be possible to sell CVD / DVD to North America, Europe and other places.
However, the acquisition of such a large company is far from just a talk between Pang Xuelin and Sun Yansheng. Sun Yansheng came to Beijing this time, just to determine the approximate price with Pang Xuelin and to sign a purchase agreement.
For the specific acquisition time, you have to wait for Pang Xuelin to go to North America to see it again, and then the legal teams of both parties will carry out various asset counts before they can formally acquire.
After the two had determined the purchase intention of US $ 50 million, Pang Xuelin turned his eyes to Raphael: "Mr. Raphael, are you going to sell Sequoia Capital's shares in Scooper this time?"
Raphael shook his head quickly and said, "No, no, Mr. Pang, I came here this time, mainly for the purpose of Starring Technology!"
"For Xinghuan Technology?"
A faint smile appeared on Pang Xuelin's face, and he didn't feel so surprised.
Sequoia Capital was founded by Don Valentine in Menlo Park, California in 1972. This big man is a veteran of the semiconductor industry. Since the mid-1950s, he has worked for Raytheon and Fairchild Semiconductor. Corporation, National Semiconductor Corporation.
After the establishment of Sequoia Capital, it has successively participated in the famous American technology companies such as Apple, Cisco, Google, Yahoo, Oracle, LSI, etc., the most successful of which is Cisco.
The two founders of Cisco Systems, Santi Lina and Lin Bosack, were former Stanford students.
Lin is from the computer department and Sangdi is from the marketing department.
After graduation, the couple were in charge of the computer systems of the computer department and the marketing department.
At that time, in order to solve the problem that the computer networks between the two systems could not be interconnected, they were determined to make something that can connect them. This is the prototype of the current router.
Lin and Sangdi created their own company in 1984.
At that time they wanted to call the company, but they found that they had been registered, so they called it simply.
Gradually with the company's development, Cisco needs the injection of venture capital to expand its scale.
They have talked with 74 venture capital companies, but none of them is willing to invest in them, and they simply think they have nothing to do.
At this time, Don Valentine who had invested in Apple, 3 and other companies appeared, spent 2.4 million US dollars to obtain a 30% stake in Cisco, and had personnel management rights.
The first thing Tang did was to find a senior executive for Cisco.
He finally found John Mogridge.
This is another important person who created the Cisco miracle.
Morwich joined Cisco in 1988 as CEO and president.
During his tenure as CEO, he transformed a company with only $ 5 million in annual revenue into a $ 1 billion giant (1995), from a small company with only 34 employees to a large company with 2,260 employees.
On February 14, 1990, Cisco successfully went public, with annual sales of 70 million US dollars and a market value of 600 million.
By 1999, Cisco's annual sales exceeded 12 billion, and the market value exceeded a record 500 billion US dollars!
It is precisely because of the great success in investing in Cisco that makes Sequoia Capital famous.
After entering China, Sequoia Capital China Fund has also invested in JD.com, Alibaba, Ant Financial, JD Finance, Toutiao, Mobike, Are You Hungry, Didi Chuxing and other Chinese Internet companies? It can be said that the Internet in China The capital market is famous.
Pang Xuelin did not expect that Sequoia Capital had set its sights on the Chinese market so early.
Pang Xuelin pondered for a moment, looking at Benson Raphael and laughing: "Mr. Raphael, are you interested in Xinghuan Technology?"
Benson Raphael nodded with a smile and said, "Just two months ago, Mr. Sun told me that he was going to sell Scooper, and I was surprised because Scooper did not get particularly large in the United States. Success, but the company ’s performance has been very stable, so I asked him why. Sun told me that he met a young genius in China, and the star ring technology he created completed 50 million US dollars in Xiangjiang in just half a year. Sales, and there is a broader mainland market waiting for him to develop ... I originally thought that such a genius, even if he was younger than Sun, would have to be in his thirties, but I did not expect you to be so rare Yes, Mr. Pang, to be honest, our Sequoia Capital is very optimistic about the development of your company, do n’t you know that your company is willing to accept our investment? "
Pang Xuelin shook his head with a smile, and said: "Mr. Raphael, Mr. Sun should have told you about the selling situation of our products, now we are not short of cash flow."
Raphael smiled slightly and said, "Mr. Pang, don't rush to decline first. I heard Sun said that you are going to sell the CVD disc player all over the world. It's not as easy as you think. If we have the help of Sequoia Capital, I believe it will definitely save you a lot of effort. "
Pang Xuelin blinked and said, "I didn't refuse, I think we can change the way of cooperation."
"Change to another way of cooperation?"
Raphael looked at Pang Xuelin in a puzzled way, and wondered: "What way?"
Pang Xuelin said with a smile: "Mr. Raphael, I heard that you Sequoia Capital holds a lot of Cisco stock, we can consider a stock replacement."
"Stock replacement? How to replace?"
"The 1: 1 ratio, one percent of Cisco stock, replaces one percent of Xinghuan Technology stock!"
"NO! NO! NO!"
Raphael unconsciously chose to refuse, saying, "Mr. Pang, do you know how much Cisco is now worth? Now it has exceeded 10 billion US dollars, and there is still some room for growth. Do you think your Starring Technology The same market value of 10 billion US dollars? "
Pang Xuelin said with a smile: "Mr. Raphael, I remember not long ago, Cisco just released last year ’s annual report, the sales exceeded 300 million US dollars, 300 million US dollars, equivalent to about 2.5 billion yuan, you know Xinghuan Technology How much was this month ’s sales? "
"How many?"
"300 million! There is no problem with the annual sales exceeding 3 billion. There is even a chance to hit 4 billion or 5 billion!"
Raphael glanced at Sun Yansheng.
Sun Yansheng nodded and said: "Peng Pang is right. In the past month, the Luzhou plant alone shipped 30,000 star ring CVDs."
Raphael's eyes narrowed slightly and said with a smile: "Mr. Pang, you know, Cisco is an American company. The future of the Internet is in the United States. Even if Cisco's market value does not increase by ten times, it will increase by three or five times. It's still possible! "
Pang Xuelin did not change his face and smiled: "Mr. Raphael, China is now a developing country, and there is still a big gap from the developed countries. Xinghuan CVD can sell so much in China. Can you imagine the market share in the United States? How big is it? How much can it reach in the European market? To some extent, the potential of Xinghuan Technology is even above Cisco! "
Raphael was silent, and seemed to be moved by Pang Xuelin.
After a while, he said: "Mr. Pang, I have no way to answer this matter directly. I need to discuss it with the boss."
Pang Xuelin said with a smile: "Yes, don't worry about this!"
Then, the three sat and chatted for a few days, and Raphael took Sun Yansheng away in a hurry.
Pang Xuelin smiled slightly as they looked at their backs.
Although CVD products are extremely profitable, but through their own means such as CCTV advertising, media promotion and packaging, UU Reading www.uukanshu.com matures the Chinese DVD player market in advance. Such a direct consequence is that the potential of the entire DVD player market is greatly overdrawn.
According to Pang Xuelin's estimate, this year's sales of Xinghuan Technology in the mainland have exceeded 3 billion yuan. The number of people who can spend 5,000 or 6,000 to buy such a DVD player is still quite limited in this era.
In the next few years, the price of DVD players will gradually decrease, and the profits will gradually decrease. Even if Xinghuan successfully opens up overseas markets, Pang Xuelin can develop the market value of Xinghuan to US $ 50 billion in the next five to ten years. It will be sky-high.
For Cisco, in another five years, its market value will rise from the current 10 billion US dollars to 500 billion US dollars. In 2001, the peak period exceeded 550 billion, surpassing Microsoft and becoming the world's most valuable company.
If you can really use Xinghuan Technology's stock and Cisco's stock to exchange one by one, then Pang Xuelin is completely profitable.
Of course, according to Pang Xuelin's plan, Xinghuan Technology will engage in CVD / DVD products at most. In the future, Xinghuan Semiconductor, Xinghuan Energy, Xinghuan Automobile, Xinghuan Aerospace and other enterprises, but Xinghuan Technology is not half Dime.
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