It's the worst of times and the best of times

Zhao Cong has stayed up for two nights without a wink of sleep, black circles like a movie star, Kung Fu Panda. This night, he has been staring at the computer screen for four consecutive hours, looking at the different bids of investors to determine their final financing price and strategy. At the end of the four-hour, three investors were bidding for 5 million valuations, while one investor offered a 4 million valuation, and 28 investors said they did not quote directly. Zhao Cong finally rejected the 4 million valuation of investors, and finally in the total of 38 investors, XX accepted 31 effective investment, and finally succeeded in financing 800,000 yuan, to sell 16% of the shares.

This is not the stock exchange, this is a call for everyone to vote for the stock-raising platform. In the June of this year, we cast a Dutch-style inquiry into the stock, opened the industry's historical precedent. Zhao Cong's project called Snail Cottage, he is going to do an outdoor sports travel boutique O2O platform, but suffer from no start-up funds. Zhao Cong once to the great well-known angels to the North have sent mail or micro Bo letters, but most of them. The emergence of the stock-raising platform, so that he can finally raise the first money to start.

It was the worst of times, with the economy slowing, the demographic dividend disappearing, the housing slump, the stock market weak, and the traditional corporate financing difficult. This is also the best era, the rise of mobile internet, social media developed, the electrical business into millions of households, people, people and things, with the speed of never connected together. Before the common people can only pit daddy to buy the bank less than 5 points of wealth management products, and now most of the Internet financial platform can give an annual rate of about 10% low risk products. For those who do not have the background of the cock silk entrepreneurs, the major start-up services organizations like crazy in the provision of various types of free services. 36KR provides entrepreneurs with a range of free services from office incubation, financing, and PR. In the government-supported Zhongguancun Business Street, 3W Coffee, garage coffee, 36 Krypton, Pegasus Brigade, Angel sinks, I black horse, a large pool of entrepreneurial services to provide free from eating and drinking rent-free way to attract entrepreneurs, on the tree a brand: There is free beauty massage.

Snail Cottage is the first batch on the platform to take a Dutch inquiry and successful financing of successful enterprises; This was unthinkable in the past. There could be dozens of individuals who would throw their own money to a stranger to do a project that no one knows whether or not to succeed. It's not just a risk, sometimes even a gamble. All this requires the entrepreneur to come up with a few pages of the plan and prove that he is willing to fight for it.

To do such a good thing is not only the people to vote for a company. In fact, in the short past year, the market has emerged from the love of investment, everyone cast, lend help, Yun Yu, all the state, love entrepreneurship, everyone cast, Angel Street, Ginkgo biloba, such as equity public platform, these platforms also hold a group of heating, launched the "China's stock-raising industry alliance" to serve the entrepreneur.

And everyone cast platform itself is the product of the public, two years ago, a general Internet Product manager in Shenzhen, Li Chunlin intends to venture to do a stake in the platform, knocking almost all the angel investors door, have met the cold shoulder. Later he had to go to the micro-blog to write articles, depicting his dream, only more than 1000 micro-Bo fans of him, each article has only a very small amount of reading, every time he would ask at that time already have more than 100,000 fans of my help forwarding.

Lee does not have any traditional investors can see the advantages, is not handsome, speech is not clear, no major companies work experience. After hitting the wall, he finally persuaded 13 people to invest 1 million to start their investment projects. Some of these investors have never seen Li Chunlin before investing. But this October, everyone voted for the first round of investors to withdraw, 11 times times the return of income, it is surprising that dick Silk can really reverse attack.

Like most Chinese Internet import, the originator of the stock-raising platform is in the United States.

Wefunder is such a start-up company. Wefunder's operation compared to China's stock-raising platform is simpler, users can browse the project as a product. As long as you are satisfied with the project, you can use 1000 U.S. dollars as a unit, click Investment. Finally Wefunder all the investors ' money and set up an independent fund to invest in the project as a shareholder. To put it simply, there are more investors in the wefunder, lower investment thresholds and greater investment convenience. China's national conditions are still very difficult to do.

The rise of the stock-raising platform will make some angels and VC funds feel uncomfortable. Some investors wrote that equity investment was a risky business in itself, and that good projects were carved up by good institutions. The idea of a stake-raising platform is junk, but it was quickly refuted by other investors. Who said that the agency's investment must be accurate? The original Shire like Ma Yun looks bad, the results of such a big achievement Ma Yun, I am afraid also let Xue intestines regret green.

But for entrepreneurs, it is really a favorite. If you are a shareholder, some entrepreneurs can even hang up several platforms to see which platform can raise more money. It was a few years ago, and it was unthinkable.

But entrepreneurs who don't have two brushes are less likely to "cheat" money. On the one hand, the stock-raising platform itself needs to have the role of pre-trial and gatekeeper, which is a bit like investment banking, but a mini version. On the other hand, the investors on the platform is actually a piercing eyes. When the entrepreneur gets the money, it doesn't mean it's all right.

For example, everyone voted for the project to carry out quarterly and annual reports, the people need to audit the annual report, the quarterly reports will be held within 10 days of the investor network meeting. In fact, in a country where illegal fund-raising can be serious to deprive people of their lives in the past, the stock-raising is really on thin ice and cannot easily make mistakes.

The Zhao Cong of the snail-cottage has been successful on the platform, but his entrepreneurial path has only just begun. In China, a typical internet start-up company will have to finance at least three to four rounds if it is to be listed successfully. Therefore, the stock is not only the role of financing, but also to raise contacts, to raise talent. And most companies actually do not have the day to go public, can sell is already thank God. Most enterprises will be eliminated in the brutal competition, most of the entrepreneurs even the first money, can not escape the ultimate fate of failure. For investors, the relatively good, if the enterprise can continue to obtain financing, early investors can be a premium exit, no need to accompany to the end.

It was the worst of times, and it was the best of times!