"Turn" can be used to tell a story of the way, easy-to-digest, to explain what is an angel investment, Vc,pe.

　　

Can you tell a story by the way, easy to understand what is an angel investment, Vc,pe

Today, I read an article on the understanding that it is worth a turn, here.

Let me give the floor a complete story. The long Wen is careful, the front high energy, self-powered lightning rod. Please read this article under the guidance of your parent or guardian if you are under 18 years of age.

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Tony and I are playing together to big friends, also have a common hobby. So when we were in high school, the idea of starting a business, profiteering love action film to high School of the vast numbers of boys, so we set up a partnership called ' AV Brothers ' business, by the two of us as partners (note, this time we do not call the company). In fact, this time, we have another option is to go to the industry and commerce registered as ' individual business ', but that too low force, directly skipped.

With our accurate grasp of the market, on the source of high-quality procurement, we quickly occupied the same year market, and earned some money. But this time, we found that the next-door class Kato is also organizing a team to do the same thing. So, we contacted the grade of local tyrants-Xue Pan (angel Investor), he came to provide 10,000 yuan for us to grow and develop. As a result, we set up the ' AV Brothers LLC ', with 50% of the shares of Shire, and Tony and I each accounted for 25%. Not long ago, we use this money in the sales channel competition to squeeze off the Kato team, making PA year-round!

After a period of time, we found that this grade channel is basically we hold, but Xue Pan gave the money also basically spent ... Seize the Channel this thing you understand, in fact, are money to buy a yell, no profit. If you still want to seek survival and development, you have to continue to expand the channel to beat other grades! But there is no money to be the whole. Let's continue raising funds. So we began to find the ' Amateur Niang Investment Management Co., Ltd. ' (A-round financier), help us to melt into the second money, RMB 20,000 yuan! So we through the efforts, the other grades of the team also all killed, the system PA Campus! Of course, the price is also some, our stock structure into a ' amateur Niang ' 33%, Xue Pan Sub 33%, I and Tony Big Wood add up, also only 33%. Then the question came, why ' amateur Niang ' out of 20,000, Xue Pan son out of 10,000, get the shares are the same? Obviously, because they voted late, and ' Av Brothers ' in this period of growth, corporate value increased.

After a while, we found that if we extend to the upstream of the industrial chain, to buy a one-tier agent, rather than directly from the stalls to purchase, so more profitable, so we have the idea of mergers and acquisitions, but the problem is the same-where the money? This time we found the ' Widow Investment Management Limited ' (B-round financier) to help us raise money to buy! The price of course is also some, the proportion of equity is diluted again.

Then, for the various purposes of development, we went through the C-round, D-round financing ....

In the middle also happened, Xue Pan son urgently need money, want to sell their shares. We also retained the ' Sico, don't wait for us to sell on the day of listing? "was reported by the Chaoyang district crowd, bail urgently needed money, no way." The shares are not in, but the friendship is still there. Castle Peak does not change, green water long flow ' (angel investors cash out). Tony and I have each subscribed for a part.

In fact, at that time, I and Tony Big Wood is to buy back the whole stake in the pan brother, because we are full of confidence in the future development of the company! But we don't have any money. The shares were bought by a company called the "Shinkansen-mad-Han alliance". Their boss, Sun Evil, is a veteran investor in the industry for many years. He promised us, lead us through the industrial chain, our cause bigger and stronger, in the future take us to pack B take us to fly! (PE debut).

Finally, ' AV Brothers ' after years of fighting, has been enough to qualify for the listing! This time, Sun Evil contacted the broker ' in the securities ', responsible for our overall listing work. First of all, we have to share a share: Because before we are limited liability company, and in order to go public, we must be restructured into a company.

At this stage, the ' out-of-stock ' team leader Chen Irrigation teacher, help us to contact the ' Dongguan Standard fund ' and several other large investment institutions to do Pre-ipo investment, while ' in the securities ' also participate in the lead. Finally, we successfully landed a-share Shenzhen SME board, Stock code 911024 (you know)! We finally realized to go to the stock exchange on the clock, sorry said wrong, the dream of knocking the bell!!

Of course, the stake in Tony and I was diluted again. Needless to say, we have to pay Mr. Chen a lot of listing fees. Follow-up, ' in-out securities ' will be responsible for our company's securities underwriting work.

After the IPO, there are many jobs. I and Tony Big Wood as the actual controller, the shares are not allowed to sell within 3 years. But the ' Amateur Niang ', ' The Widow ', ' the new trunk of the Han Alliance ', ' Dongguan Standard fund ' and so on investors, their investment is to be realizable, and only locked 1 years ... Then a year later, they were more or less selling shares in the market ... Of course, the money will certainly not earn less. After all, in China, the one or two-grade market spreads are very large (the stock market and the stock market), there is arbitrage space. So for example, such as the "new trunk of the Han Alliance," the PE, in China is mostly by ISO, oh no, IPO exit, realize cash out (a small part through mergers and acquisitions).

After the listing can play a lot of, I and Tony Big Wood saw a Japanese a film manufacturers, decided to buy buy buy! But we don't have enough cash to do the whole ... So we found the broker, Mr. Chen. He said: "You silly x Ah, the direction of the issuance of the stock to them do not?" So we found the owner of the A-chip manufacturer Lao Wang, directed the issuance of shares. So, Lao Wang got the stock, Av factory belongs to us. But the absolute number of shares in my hand and Tony's has not changed, just a little bit of dilution ... However, this targeted additional information so that investors are very optimistic about our development (1+1>2, so-called synergy effect), so we rub against the valuation of a week trading board, we have a double win situation.

After a while, Tony and I decided to build their own AV sales network, but this need money ah, and can not be like before the direct purchase of assets ... So we found the teacher Chen, and his temper is still not good: ' You silly x Ah! Directed additional money to a few rich people, said the project fundraising, not on the line! Quick son of, hurriedly suspended to send announcement! ’

AV Brothers decided to 10 yuan/share of the price to a specific group of non-public shares, the current market price is almost 12 yuan, the future may be more valuable, there will always be someone to look at it, do a one-year fixed increase. One of the rich is called Koizumi, who is very optimistic about the investment and wants to buy 5 million shares, but he has only 10 million in his hand. So he thought of his sister Koizumi work in the asset management company, decided to raise capital to vote! Koizumi Choi said: ' I have a few rich here, Yoshizawa, Hope, Rio, Sino, etc., I help you to make a product to sell them! "So the product design came out, Koizumi foolish a lang contribution of 10 million yuan, pry 4 times times leverage (4 wealthy each person also out 10 million). 1 years later, rich men Wenna 12% of the proceeds, and his sister Koizumi took more than 1 million of the money escrow fees, management fees and channel fees. But did not expect the stock 1 years after the value of 20 yuan, the rest of the so-called ' post-income ' all to the Koizumi stupid, it seems he is not too stupid (structured products).

After some time, the AV Brother's valuation is a bit sluggish, need a point of concept promotion. At this time, we suddenly feel that the recent ' Zheng Shaoyan health Care Slimming Online lecture ' is a good asset, accounting for ' health ', ' feminism ' online education ' Internet + ' and other concepts, worth speculation. So we contacted Zheng Shaoyan and bought her company (part of the increase, part of the cash. Yan said she wanted to cash in, and she became a small shareholder in our company. And because of this concept, we get a higher price-to-earnings ratio, in other words, our stock prices are up again (injecting high-quality assets into listed companies)

Later, with the development of enterprises, in order to attract more outstanding staff left, we have developed an employee equity incentive plan, especially for the company's several red cards (Abe two, Ishihara too Niang, etc.), we pay each other's wages, but also gave them a lot of equity incentives, of course, the premise is also some, For example, until the working period is full of a certain number of years, the amount of personal film sales to reach the million, to cash

Later, with the rise of rivals such as S2,alice Jap, our company's earnings were getting weaker. We are also added to the CAP, stock more than a ' ST ', if the performance does not improve, we have been delisted the risk of delisting, investors even including me and Tony Big Wood have a lot of set out, it seems that we lack the momentum of the forward ... However, the company is still valuable, because we are listed as a qualification, that is to say, we are a ' shell '. So, this time ' old Western ' company boss Yu Minghong found us, said: ' Brothers, do not engage in AV, Magdalene Bar. I am a good company, we work together to transform the education industry. ’

This time, teacher Chen came out to operate the overall situation, ' AV brothers ' is about to complete its last direct issuance. Shares of 90% shares were directed to the ' Old West '. At this time, a paradoxical situation arose – nominally, the ' AV Brothers ' acquired the ' Old West ', but in fact, Yu Minghong now has the ' AV brothers ' 90% stake, becoming a real big shareholder ... This is called a reverse takeover. The real essence is the ' Old West ' backdoor listing.

Yu Minghong quickly took over the board and shareholders, and Tony and I became small shareholders, losing control of the ' AV Brothers '. Yu Minghong accepted the company, a steady stream of education assets, will be ' AV Brothers ' renamed the ' Old Western Holding ', completed a gorgeous turn. Belongs to us, that white paper floated the age, has passed. And I and Tony Big Wood, then can only quietly look at all this. When someone calls Tony Big wood ' teacher ', his heart just wants to say: ' Actually I am an actor '.

Capital market, after all, is always the survival of the jungle law, we thought we were on the wave of the wave, but now only realize: when you lose the smell of the market, the building of the collapse is only minutes of things.

Finally, to borrow the River fairy a song:

Rolling the Yangtze River East died of water, spray Amoy heroes. Right or wrong turn empty, Castle Peak is still in, a few sunset red.

White hair fishing firewood on the river, accustomed to see twists. A pot of turbid wine to meet, ancient and modern how many things, all pay a joke.


After all, we had a dream.

Full-text final

From the original to know, the title of the article, the right to interpret the original author.

I am only for the popularization of financial knowledge.

Lionden July 28, 2015 23:57

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Reprint please specify the original address and blog Park lionden:http://www.cnblogs.com/lionden/

"Turn" can be used to tell a story of the way, easy-to-digest, to explain what is an angel investment, Vc,pe.