Chapter 58 True Investment Intentions
“Neither pethidine nor chlorpromazine can be used frequently because they have very strong side effects.

It blocks the body's control and regulation of body temperature through drugs, which can also cause damage to the body. This can only be used as a treatment method.

At the same time, its duration is also very short, only three to five days.

The low-temperature human hibernation technology we are working on relies only on ultrasound, which is harmless to the human body. It uses the nerves and genes related to mammals and hibernation to achieve the effect. The duration ranges from five to ten days.

Compared with human hibernation therapy, both its potential and commercial value are much greater.”

The representative from Sequoia Capital took the microphone and asked, “Dr. Chen, I am very interested in the business value you just mentioned.

How do you view the commercial value of this technology? At present, it seems that the colonization of Mars is a long way off, and it won’t take that long to go to the moon. So what is the commercial value of your technology? "

Chen Yuanguang said: "This is mainly divided into several aspects, one is that we can replace traditional hibernation therapy.

In addition, we can apply it to ocean shipping and long-distance passenger aircraft. The five to ten days just mentioned is the longest time, and the wake-up time is controllable.

For long-distance flights lasting more than a day, passengers can enter a hibernation state as soon as they get on the plane, and when they wake up, they will have arrived at their destination. "

A representative of Sequoia Capital said: “Both are widely used scenarios, but the latter depends on the size of your device or instrument.

And whether some supporting measures are needed.

Is it just that an ultrasonic device with limited size and weight can be set to automatically turn on and off, or does it require a series of supporting facilities? "

Chen Yuanguang said: "An ultrasonic device with limited size and weight will do.

Because its underlying principle is to stimulate neurons, it is not as complicated as supporting facilities.

But if you want to stay in hibernation for five days or longer, it's best to have someone to give you water. If you want to stay in hibernation for more than seven days, you must give yourself water, otherwise your life will be in danger.

For ocean-going shipping, it may be necessary, but for long-haul passenger aircraft, it is not necessary at all.”

The representative of Sequoia Capital applauded: "Dr. Chen, I am very optimistic about its commercial potential. We at Sequoia Capital are very willing to do so."

No one had too many questions about the technology because they didn’t understand it. After listening to the presentation, everyone felt that the technology had considerable commercial potential.

In addition, with top scientific research expert Chen Yuanguang in charge of reviewing and having already made a rough outline, they are all very willing to invest.

"Dr. Chen, would you mind telling us directly how much financing you hope to get in this round and what proportion of shares you are willing to transfer? Is the ratio of shares to voting rights one to one or ten to one?" After there were no technical or commercial questions, everyone's questions focused on the price.

Chen Yuanguang thought the price was not high, but he thought the people present would think it was high. However, there was still room for negotiation. He would start with a high price and then slowly talk about it. "The valuation for this round is 100 billion RMB, and 10% of the shares will be transferred. The ratio of transferred shares to voting rights is 10 to 1."

There was an uproar at the scene, and people wondered if Chen Yuanguang was crazy. A company whose product was still in the experimental stage, and the experimental subjects were monkeys instead of humans, could actually claim a valuation of 10 billion. Even if the unit of measurement was RMB, it was still too high.

Everyone originally thought that the valuation of 10 billion yuan was the ceiling.

As the representatives present were talking to each other, William, the representative of Sequoia Capital, immediately raised his hand and asked the waiter to pass the microphone to him:
"Dr. Chen, Sequoia Capital has invested. We have only one request. Before investing, we need to find a third-party organization to verify the authenticity of the results."

Chen Yuanguang was surprised. You agreed to 10 billion without even blinking an eye?
The representative of Shunwei Capital, who was sitting next to William, was even more shocked. Did he see some opportunity that I didn't? He quickly whispered, "William, don't be impulsive!" If you are impulsive, you will not give me a chance!
William ignored him, and Chen Yuanguang nodded: "No problem, this is what I should do."

William said, “Okay, then Sequoia Capital will invest in this project, and we can totally accept this price.

Can we sign the contract today?"

The representatives of various institutions present were extremely shocked. William didn't seem like someone who would be so anxious. How big was this opportunity? To sign a billion-dollar order today and rush to give the money to Chen Yuanguang?

Lin Jia felt very strange, she stood up with the microphone and signaled Chen Yuanguang to answer: "Mr. Hu, I am the co-founder of Guangjia Technology, Lin Jia.

Regarding your question, it is about more specific business details. Dr. Chen may not understand it very well, so I will give you a further answer.

It will take some time for us to draft the contract, and some more specific terms still need to be negotiated between the two parties.

Today’s signing was really quick.”

William's full name is William Hu. He is a second-generation Chinese American who was sent to Shenhai. Before the representatives arrived, they reported their names as seat badges.

When the representatives heard Lin Jia introduce himself, they were all thinking, Guangjia Technology, Jia seems to be Lin Jia.

William looked helpless: "Well, Sequoia Capital hopes to sign the contract as soon as possible."

Chen Hongyi and Fang Huiyu looked at each other in bewilderment. "Is William the William we know?"

"It's him. Did he take the wrong medicine today? A startup company with a valuation of 10 billion, and he didn't even blink an eye?"

"Does he think Light Armor Technology is Facebook or Google?"

“There are definitely investment opportunities that we haven’t discovered.”

"But where exactly?"

Seeing that William, the representative of Sequoia Capital and an industry veteran with rich investment experience, had such a strong willingness to invest, Morgan, Shunwei Capital, Qiming Venture Partners and CMB International all expressed their willingness to accept the price. We will discuss the ratio later.

After they said that, William said, "Dr. Chen, let's raise the valuation to 150 billion yuan, which means 15 billion yuan for 10% of the shares. I don't want to argue with them about the distribution of shares anymore. Is that okay with you?"

Everyone else thought William was crazy, but Morgan's investment representative followed his lead. The preliminary agreement reached was that Morgan and Sequoia would each hold 150% of the shares, with a valuation of billion yuan.

Zhao Tiankui is a representative of CMB International. When he returned to the company, he told his colleagues in the office what he had seen and heard about the investment project that day:
“No wonder a person’s reputation is like a tree’s shadow. In this industry winter, investors of good projects are vying to give money.

This is the first time I’ve seen Sequoia raise the price by 50%. It’s not that these foreign investors are unwilling to invest in China, they just don’t see good projects and don’t want to invest.”

After hearing this, his colleague's face changed: "You say, is this thing of great value in military technology?
Originally, nuclear-powered submarines could only stay underwater for a period of time before coming up because of the lack of supplies and the psychological pressure on everyone. With this thing, they take turns to hibernate, so can the endurance time be greatly increased?
That’s why the Sequoia representative was particularly concerned: Is this a supporting facility or a small device? ”

(End of this chapter)