Chapter 116: First Encounter with the Premier Young Master of Magic City

However, unlike those scrambling everywhere to seek venture capital, Lin Yi's side was bustling with activity.

That night, he was surrounded like the moon by countless stars.

Founders of numerous venture capital firms kept showing him favor.

Even Sequoia Capital and IDG Capital, which Lin Yi had previously rejected, were no exception.

"Mr. Lin, hello, nice to meet you; I am Shen Shen Nanpeng!"

Shen Shen Nanpeng introduced himself.

He was a man wearing glasses, with a rather refined appearance.

His demeanor resembled that of a university professor, yet in reality,

this man was the founder of the world-renowned Sequoia Capital.

Sequoia Capital has invested in top-tier enterprises including Sina, Alibaba Group, and Meituan.

One could say that Shen Shen Nanpeng is a powerhouse standing behind other powerhouses.

The last time Sequoia Capital visited Fengyi Technology in Modu,

they only sent a vice president, offering a valuation of a mere two billion Chinese yuan.

Upon hearing this, Lin Yi rejected them on the spot.

He never expected that by merely attending this exchange meeting, he would encounter Shen Shen Nanpeng, the co-founder and managing partner of Sequoia Capital.

This individual is also the chairman and founder of Ctrip and Home Inn.

He previously held positions at Citigroup, Lehman Brothers, and Morgan Stanley.

His resume can be described as utterly explosive.

"Hello, Mr. Shen!"

Lin Yi replied with a smile.

Shen Shen Nanpeng then said with a smile:

"President Lin, last time our Vice President Chen visited your company without conducting thorough due diligence, which was somewhat presumptuous;

I am here to apologize on his behalf!"

"Hehe, Mr. Shen, you jest; compared to everyone here, I am merely a novice who knows nothing.

In fact, last time it was I who was somewhat presumptuous and disrespectful toward Vice President Chen,"

Lin Yi said.

The two exchanged words like an old fox and a young fox.

At this moment, Cui Cui Hongming, a partner at IDG Capital, spoke from the side:

"Old Shen, I know Sequoia Capital wants to invest in President Lin's Fengyi Technology,

but let's be honest, when the time comes, we must still compete!"

Saying this, he also looked toward Lin Yi:

"Isn't that right, President Lin?"

In response, Lin Yi merely smiled without answering.

In reality, no matter how extravagantly these venture capital firms spoke, he, who deeply understood Fengyi Technology's future potential,

had absolutely no intention of accepting equity investment.

Accepting it would be purely giving money away to these people.

Furthermore, a company accepts venture capital because it lacks funds for development.

But did Lin Yi lack funds?

Holding assets worth over ten billion US dollars,

Fengyi Technology was already generating monthly revenues exceeding one hundred million Chinese yuan.

There was absolutely no need to introduce venture capital institutions.

Song Zheng, the founding partner of Matrix Partners, asked directly:

"President Lin, I wonder if your company currently requires financing; if so,

the offer we at Matrix Partners make will absolutely not be less than that of any other institution!"

"Mr. Song, if Fengyi Technology ever considers financing in the future,

I will immediately contact you, Mr. Song!" Lin Yi said.

Upon hearing this, Song Zheng understood that the young man before him had clearly rejected him.

Nevertheless, he still said with a beaming smile:

"Then it's a deal!"

Seeming to see that there was no hope with Lin Yi, some venture capital firms shifted their focus,

and a crowd gathered around Huang Zheng, the founder of Pinduoduo.

Clearly, in the eyes of these people, Fengyi Technology was not the only option at this exchange meeting.

Although Pinduoduo was only founded in September of this year,

relying on subsidies and campaigns like 'everyone slash a price,' it rapidly captured the middle-aged and elderly market.

Countless uncles and aunties could obtain cash and free goods by slashing prices.

Leveraging the elderly's tendency to seek petty gains,

Pinduoduo quickly seized a customer base that neither Taobao nor Jingdong had noticed.

Through the influence of this elderly demographic, it began affecting younger people as well.

It must be noted that before Pinduoduo emerged, some media in Longguo believed

that it was impossible for a new large-scale e-commerce platform to emerge in the Longguo market.

The market would be divided among Taobao, Jingdong, and some smaller e-commerce platforms,

forming a duopoly structure.

However, with the emergence of Pinduoduo,

its user scale spread like a virus, forcibly carving out its own market space between Taobao and Jingdong,

causing quite a stir in the market.

It also attracted the attention of many venture capital institutions.

Of course, Huang Zheng had many business tycoons standing behind him;

for instance, Duan Duan Yongping of BBK Electronics had always greatly admired Huang Zheng, although he himself did not invest in Pinduoduo due to not understanding the business model,

For instance, Duan Duan Yongping of Bu Bu Gao has always greatly admired Huang Zheng, although he himself did not invest in Pin Duo Duo due to his lack of understanding of the business model.

Yet the help provided was by no means insignificant.

At this moment, Huang Zheng seemed to have noticed Lin Yi as well.

Seeing that quite a crowd had gathered around him too, he turned to Duan Duan Yongping and asked:

"Old Duan, who is that person?!"

Upon hearing this, Duan Duan Yongping said:

"The founder of Fengyi Technology, a truly remarkable individual; just now, Old Shen from Sequoia was mentioning him!"

"Fengyi Technology, the one making batteries?!"

Huang Zheng remarked.

As for how he knew,

it was because Pinduoduo had recently listed numerous electronic devices equipped with counterfeit Superba 18650 batteries.

Although these devices were all labeled as using batteries from Fengyi Technology,

consumers found upon taking them home that the reality was entirely different.

The flood of complaints had significantly damaged Pinduoduo's reputation.

"Yes, new energy batteries, and moreover, products possessing independent intellectual property rights;

some media outlets are now hyping that this person is the next Old Ren from Huawei!"

Duan Duan Yongping said with a sigh.

Although he had already emigrated to the United States,

he remained quite well-informed about domestic conditions and was more than willing to shield and support promising young talents.

In the past, Huang Zheng was precisely such a talent in his eyes.

Ever since Old Ding from NetEase introduced Huang Zheng to him, he had felt that this young man was capable of achieving great things.

Furthermore, abroad, especially in the United States, things had become extremely chaotic due to the DWS platform incident.

It was hard to imagine that in the affluent neighborhoods where wealthy individuals like himself resided, gunshots could now frequently be heard in the middle of the night.

Many of these gunshots came from fully automatic firearms, which were explicitly banned in the United States.

Under such circumstances, he had returned to the country.

However, what he had not expected was that there existed a genius like Lin Yi within the nation.

He had just heard Shen Shen Nanpeng's introduction.

A child from the mountainous regions of Guizhou Province, who hadn't even graduated from university, yet had managed to build such a career on his own in the city of Modu.

This could not be summarized merely as 'not easy.'

Especially since this person had absolutely no background,

nor did he have people like himself or Old Ding to assist him, unlike Huang Zheng.