“In addition to hotels, you can also book rooms and breakfast on Airbnb.”

Brian pointed to the simple PPT on the screen and explained orally: "Airbnb is a service website that provides users with various accommodation information and landlord rental information..."

"The current global travel booking accommodation market has a scale of US$2 billion, of which online bookings account for US$560 million, and Airbnb estimates the market size to be as high as US$84 million."

Li Zhiyi looked like he was listening to Brian's talk attentively, but in fact he was thinking about whether it would be better to go home tonight and let Aunt Wang make Mao's braised pork or casserole braised pork.

Airbnb's financing business plan is textbook-level, concise and easy to understand. Even with Li Zhiyi's ten-year lead, he can't find any major flaws.

In fact, part of the reason why many venture capital institutions only look at people and not projects in the early investment stage is because they don’t understand what entrepreneurs are thinking. 90% of the business plans written by entrepreneurs are, to put it bluntly, crap.

Even if you give them time to speak orally, they can't understand it.

They also like to complain when it's all over, and they kill me after just three to five minutes of chatting. They're bastards who have no vision and no respect for others. Don't bully a young man into being poor.

You must know that venture capital analysts have to look at thousands of projects every year, and are fed shit every day by all kinds of old guys who want to fill up the Pacific Ocean and develop real estate. I really don’t have the time or patience to listen to your lofty ideals of changing the world.

ideal!

Tell me directly what you want to do, how much money you need, how to use the money, and how much return I can get.

If you explain these three points clearly, the analyst can probably chat with you for ten minutes. Why only ten minutes?

What a coincidence, isn't it? Three months ago, I saw a dozen of the same type of thing that the young man wanted to do. You are not the worst one, but you are not one of the best either...

"We need to raise US$200,000 in the angel round. We hope that this money will allow us to survive for 6 months, increase the transaction volume to 20,000 transactions, and achieve revenue of US$500,000 (12 months)." Brian finally said.

Finish with financial needs.

Li Zhiyi nodded and made up his mind to eat Mao's Braised Pork at night: "This is a good business BP template. I have a question."

“You just mentioned that tourists can experience the local culture better by staying in Airbnb than in a hotel, thereby forming a unique community culture. As far as I know, couchsurfing has already achieved scale in this field. How should we deal with it in the future?

?”

Brian turned to look at Gebia, who answered: "We have never regarded Sofasurf as a competitor. The concept of Couchsurfing is to help each other for free and we charge fees, which means that we have the ability to provide users with better services."

experience and better maintain the community.”

"Specifically when it comes to business operations, if you are willing to listen, I will be happy to continue to answer your questions."

The answer is straight to the point. In many cases, free means cheap or low quality. The sentiment may be great, but it cannot be eaten.

The owner of the sofa guest room may let his friends come to his home to sleep on the sofa for free out of love, or he may kick the person out because of his love. However, Airbnb hosts make money, and they will definitely not do that if they are driven by profit.

As expected, the founder who can create a unicorn with a market value of tens of billions is perverted enough even in his youth.

Li Zhiyi sighed inwardly, and then stopped and asked about other questions. At this point, the dozen or so pages of research materials prepared by Xu Jing came in handy; several people talked about user group target positioning and website interface design. It didn't sound like a financing meeting.

It's more like a business meeting.

After chatting for more than an hour, Li Zhiyi saw Gebia unconsciously showing an impatient expression and stopped the conversation: "For 200,000 US dollars, how much equity do you plan to transfer?"

"10%." Brian said.

Li Zhiyi nodded without any hesitation: "We will seriously consider it when we go back. Thank you three for your hard work, so why don't we end it here today?"

"Okay, I look forward to seeing you again!"

"...Tomorrow, if everything goes well, I think we will meet tomorrow." Li Zhiyi pretended and looked at Xu Jing: "To be honest, I am personally very interested in you, otherwise I wouldn't have come from New York.

.”

"Yeah, we know this very well. Thank you for your recognition of us." As a future CEO, Brian has shown the characteristics he should have now.

Then Li Zhiyi and Li Zhiyi didn't waste any more time, bought two packs of *** cereal and left. It was a purchase, not a gift, and the whole amount was 80 US dollars.

Li Zhiyi got into the rented Mercedes-Benz and asked, "How do you feel?"

Xu Jing started the car and thought for a while and said: "We may be too polite to them. The lion is asking for a valuation of 2 million. They are not worth this price."

"This can be discussed. Is there anything else besides valuation?" Li Zhiyi was persuasive.

Xu Jing hesitated: "Isn't it a bit urgent for one day? I think they need to re-evaluate their value, and there seem to be differences in their internal attitudes towards our investment."

"I only have two weeks of vacation and must resolve the matter quickly. It doesn't matter if there are any differences, as long as they take our money tomorrow." Li Zhiyi could also see that Georgbia was not very interested in him.

"Have you made your decision?"

"Well, you have to do the valuation and shareholding ratio tonight. Time is tight and the tasks are heavy, so I won't invite you to my house for dinner. I will have a big meal after finishing the project."

The two of them talked and the car stopped at the door of Li Zhiyi's house. Li Zhiyi arranged his work, patted his butt, got out of the car and left. Xu Jing looked at the time, started the car and went to buy coffee. He didn't have to sleep tonight...

In fact, Li Zhiyi wanted to sign the investment agreement and negotiate the terms on the spot, but he was not Xiao Ma, and he could deal with Cheng Wei in just a casual meal.

The ancestors said it well: the weapon and the name cannot be faked. For the king's office, the name is used to convey trust.

He is too young and needs to use the established rules and procedures of venture capital to emphasize his credibility. He needs to let the Brian brothers know that he is not a rich second generation playing tricks. He is serious and his organization is very professional.

In the normal venture capital process, today's meeting is considered an appointment. Everyone gets together to talk about the project, and then the entrepreneurs and institutions go back to their respective homes.

The internal decision-making process of an institution to invest or not to invest, including risk assessment and other processes, often takes 3-5 days, which is already fast. Li Zhiyi said that only Sequoia can do it in one day.

Entrepreneurs also need to consider whether to take money from venture capitalists. Financing is not just about making money. It is a very important step in the development of a startup company. Entrepreneurs who are smart and want to do things well will think twice before investing.

OK.

What Li Zhiyi just talked about about the business level is to indicate that I have the ability to help you improve the project, and in addition to money, I can provide support in terms of development strategy.

If both parties have no objections at this point and the bastards look at each other, then the preliminary terms of the investment agreement will be signed, which often includes a confidentiality agreement.

After signing, legal, financial, and analysts will conduct comprehensive due diligence. If there are no problems, the formal investment agreement will be signed.

I have gone through all the difficulties, and finally made the payment and delivered my money to you...

Venture capitalists’ money is not that easy to get. There is a saying in the financial industry: “If you don’t give me your life, why should I give you your money?”.
Chapter completed!