High School Belle Fell in Love with Me

Chapter 390 - 188: So They’re Not on the Same Side After All? (Part 2)

And Jiang Banxia was betting that those people wouldn’t dare crash the price to her accepting range.

After she placed an offer of 180 million, the frequency of chip sell-offs began to decrease, and she continued to acquire shares above, always keeping it around six to seven percent below the surface.

After taking in another 20 million, she calculated her holdings and realized she was just over 50 million away from hitting the disclosure threshold. Without hesitation, she went all-in with 50 million, pulling the price up by nine percentage points.

From six percent below the surface to three percent above.

In this situation, many undecided retail investors rushed in while the previous major players in the market realized that the momentum was unstoppable. They immediately switched from being short to going long, jointly buying up to prevent too many shares from falling into the hands of retail investors.

Price ceiling achieved, naturally, although the funds to sustain it weren’t much, looking like it could open up at any moment.

But until the market closed, the price ceiling was maintained.

That day, the net value of the Wanliu Mixed Selection fund increased by 1.23%

Li Yang wasn’t aware of the fund’s holdings, but he kept track of the fund’s net value every day.

When he saw such an increase in the fund’s net value, he knew Jiang Banxia couldn’t hold back any longer.

There was no good or bad, if Jiang Banxia liked this model, she could just go for it.

No matter if she was suitable for public fundraising or handling billions, even trillions of funds, a profitable model is a good trading model.

On the fifth day, the net value of the Wanliu Mixed Selection fund increased by another 1.08%

In the current market, Jiang Banxia was grabbing over one hundred million in profits daily, which was already an extremely terrifying figure.

That Saturday, Li Yang, as agreed, went to the office rented by David.

The current office for Ofo’s little yellow bike was just enough to fit twenty square meters, proving just how short of funds they already were.

But it didn’t affect David’s determination to raise money at all.

The small office was already crowded with people interested in the bike-sharing industry.

That was David’s secret weapon.

After Li Yang arrived, he enthusiastically invited Li Yang to sit down. Seeing the scene, Li Yang knew there was definitely going to be some action.

Usually, fundraising is done privately, comparing offers from three parties, signing deals with the highest bidder, not by gathering investors all together like this.

But David did just that.

After sitting down, he didn’t greet the people around him since everyone here was a competitor today.

David stood next to him, taking out a writing board.

Seven or eight people sat close by with small stools, surrounding him.

David first bowed to everyone around, saying, "Thank you all for taking time out of your busy schedules to come here. The company is currently in a phase of rapid expansion, so we have limited funds for the office. Your understanding is greatly appreciated."

When it comes to matters requiring real cash, people aren’t interested in small talk.

David quickly got to the point, taking out the writing board, "Ladies and gentlemen, please allow me to first introduce Ofo’s little yellow bike. We originated from Jing University, and are now covering the Capital City with over 600,000 registered users..."

His company, with a valuation of only several million, took over half an hour to elaborate on its business philosophy. Under his description, the company was devoted to being great, disruptive, and innovative.

It was only at the end that he mentioned the key point, which was the current distribution of company shares.

In the angel round, 20% of the shares were given away, raising a total of 1.6 million, representing a market valuation of 8 million back then for Ofo’s little yellow bike.

But now, the valuation of Ofo’s little yellow bike was around 30 million, and David planned to raise 30%.

Similar to Mouyu, once someone takes the 30% stake, then the angel round’s 20% stake would become 14%, and David’s original 80% stake would become 56%.

Theoretically, just 9 million would be enough to secure 30% of Ofo’s little yellow bike shares, making it quite cost-effective for this round.

However, David didn’t call all these people over just to collect only 9 million.

After David finished, Li Yang spoke up, "Senior, I’m prepared to offer 15 million."

With that, he immediately pushed the valuation up to the 50 million level.

Everyone around was stunned, thinking, "How is anyone else supposed to compete with this?"

A 50 million valuation, while within a reasonable range, was clearly at the extreme end of reasonable, leaving no room for others.

Even offering the same 50 million valuation seemed like listing a duck on a rack.

As soon as Li Yang finished, someone next to him said, "President Dai, our Yuancheng Capital is willing to invest 18 million."

At this moment, it was no different from a marketplace auction, after all, this was the effect David wanted.

Li Yang even suspected that this so-called Yuancheng Capital was a hired plant from David.

Damn it, giving a 60 million valuation, can they even survive like this?

This is just the A- round; there’s still the A round and A+ round. If you go 60 million now, would you have to go 500 million valuation for A round? 3 billion for A+ round?

Someone else stated, "President Dai, our Shunwei Capital can provide any necessary support. You’re well aware of our investment situations over the years and the resources we hold."

Li Yang glanced at the representative from Shunwei Capital because this company belonged to President Lei.

Rice Technology is a stake held by President Lei under the name of Shunwei Capital.

For companies starting in the Capital City, President Lei would invest in them, some more, some less.