Chapter 7, Venture Capital Institutions

This time, it is evident that xlous has been accurately targeted

The commercial prospects of this application are self-evident

A formally dressed man and woman arrived here

I said, "Ren Hong. No matter how we put it, the other party is a venture capital company. Our company cannot progress at such a snail's pace. We need funding for promotion, even though we all know the value of real-time online translation." Chen Kai glanced at the door that was still being knocked on and said.

"What the hell, don't do that. If this continues, you'll either become a sissy or gay!" Zhou Hui looked at him with disgust.

May I ask! Is this the office address of xlous?" said the man outside as he knocked on the door

Ren Hong returned to the classroom to continue assigning tasks. Upon seeing Ren Hong return, Zhou Hui immediately said: "Boss, the traffic on the official website is rapidly increasing, and we need more servers to alleviate the pressure"

What happened?" Zhang Han looked at Ren Hong, who returned to his desk with a face full of anger

I understand, thank you, Director Yu, Ren Hong responded

IDG Capital's investments target China's emerging industries, including the internet, mobile internet, software, new media, consumer goods and services, healthcare, and clean energy sectors

In the office of the academic affairs department, Director Yu ended the call and murmured to himself, "It seems things are going to get lively recently." With a light chuckle, he immersed himself in his work.

A sudden loud noise echoed, and the door was firmly shut. Li Tao Sheng was taken aback, and his assistant was at a loss. They could only hear a faint and indifferent voice from inside: "xlous currently has no plans for financing! Please leave, Your Excellency."

Notable internet companies such as Baidu, Sohu, Tencent, Ctrip, and Qihoo 360 have all made investments in it. More than 70 of the companies they invested in have successfully gone public or been acquired

A long silence came over the phone, and Ren Hong surely understood the principle that wealth stirs the heart. XLous is evidently a piece of prime meat, a substantial piece of prime meat. It is truly hard to believe that there is no one who would be tempted.

Yes, that's right. Ren Hong put down his work and stood up to greet them. He glanced back at Zhang Han and the others, saying, "You all just focus on your work." After saying this, he walked to the classroom door, looked at the man and woman, and guessed that these two were likely representatives from the IDG Investment Fund.

The five roommates stared blankly at Ren Hong, at a loss for what to do

Li Taosheng spoke eloquently and fluidly, while Ren Hong listened calmly throughout. When he heard that 60 million was being offered for nearly half of the shares, Ren Hong turned around on the spot

I will keep that in mind! Thank you for your concern, Director," Ren Hong sincerely responded

I am Ren Hong, the founder of xlous," said Ren Hong. He is no stranger to IDG Technology Venture Investment Fund, which was established in 1992 and is one of the earliest international investment institutions to enter China. To date, IDG Venture Capital has invested in over 300 outstanding enterprises in China.

Indeed, one of the men smiled and said: "Hello! We are the heads of the IDG Technology Venture Capital Fund for the Northeast Asia region. My name is Li Taosheng. May I ask who is in charge of XLous Company..."

Well! Understood, then let's prepare to rent a few more servers. After this period, I believe we will soon be able to purchase servers. " Ren Hong thought for a moment and then looked at Chen Kai: " The relevant patents need to be well-prepared; this matter cannot be taken lightly.

"Venture capitalists," Ren Hong said irritably, "What the hell. 60 million dollars for 49% of the original shares, do they really think I'm just a coder with my head full of code? The more I think about it, the more infuriating it becomes"

Bang

In Ren Hong's view, xlous is invaluable. The launch of instant online translation is merely his first step, and it is this first step that allows xlous to rank among the top ten internet companies in China, which is his most conservative estimate

The school will respect your personal choices. Work diligently and remember that everything must be grounded in reality; one must not be impetuous or driven by greed, Director Yu said solemnly

Ren Hongwen fell silent for a moment, looking at the other party, devoid of the excitement typically seen when investment institutions arrive with cash. Although he was a 19-year-old sophomore, he appeared as composed as a middle-aged man. He calmly stated: "Our company is indeed in urgent need of funds for expansion. May I ask how your side intends to invest in us?"

Ren Hongwei smiled slightly and said, "Our way of thinking is different from that of foreigners. Foreigners consider the competitiveness of a product and the competition with rivals first. But we do not; xlous does not. Why should we consider competitors when developing our products? If there are competitors, they are ourselves, our company's innovation capability!"

Li Taosheng realized the situation and immediately knocked on the door, anxiously saying: "Mr. Ren! If you find anything inappropriate, everything can be discussed! Mr. Ren! Mr. Ren!"

"By the way, you mentioned that someone would help us with promotion and also send us money. What does this mean?" Chen Kai said curiously, and this statement also piqued the curiosity of others.

Ren Hong nodded, indicating that everything in the company is currently running smoothly. However, a few minutes later, Classroom 317 welcomed its first guests.

Ren Hong looked at several of his roommates. He extended a finger, his voice loud and clear, unafraid of being overheard, "First, it is the venture capitalists who are seeking us out, not the other way around." He then raised a second finger, "Second, the first product under xlous has no competitors in the market. I can confidently say that for the next ten to fifteen years, this technology will be unique to xlous." The crowd watched as he extended a third finger, "Third, I have never considered venture capital since the company's inception." He raised a fourth finger, "Fourth, there will be people who will offer us large sums of US dollars while also helping us promote our product." Finally, he stated, "xlous is a great high-tech company, and not only has he insulted my intelligence, but he has also tarnished xlous and instant online translation, which is intolerable"

1.2 billion! US dollars! An astronomical figure! Hehe! Ren Hong couldn't help but smile to himself.

Hehe. Let me greet you first, the IDG Technology Venture Capital Fund has obtained your company's address from the school, and they should be on their way to you now said Director Yu with a smile on the phone

Li Taosheng was immediately delighted upon hearing the other party's response, "It's a pleasure to meet you! Mr. Ren is indeed young and promising, having designed such outstanding software even before graduating." After a bit of flattery, Li Taosheng revealed his purpose: "I believe Mr. Ren has already guessed our intention. The IDG Investment Fund is very optimistic about your company's products. Seeing that Mr. Ren is an entrepreneurial university student, I assume there may be a shortage of funds. IDG Venture Capital hopes to invest in your company; may I ask what Mr. Ren thinks about this?"

Rest assured," Chen Kai said, patting his chest and making a guarantee

"It's so incredibly impressive that I almost fainted," Zhang Han said, looking at Ren Hong with a face full of admiration

Li Taosheng was somewhat surprised by Ren Hong's performance. Upon hearing the other party's response, he smiled at him and tentatively said: "IDG is prepared to invest 60 million USD in your company for a 49% stake. IDG values XLous at 120 million USD, so..."