Chapter 201

Single chapter explaining the latest plot

Single chapter explaining the latest plot

I am really speechless. I didn't expect that in 2024, there are still so many people who don't understand Tencent's financing history, or perhaps it is precisely because too much time has passed that many post-00s don't know?

Those who complain that the protagonist holds more than 40% of the shares and say that 60% is outrageous and impossible to be so high, don't they know how much MIH holds in reality?

Tencent's first round, or angel round, was provided by PCCW and IDG with 1.1 million US dollars each, totaling 2.2 million in exchange for 40% of the shares. The second round was MIH, which is Naspers of South Africa. In this round, MIH not only bought equity from PCCW and IDG, but also invested money in Tencent, spending a total of 32 million US dollars. The only chance for Li Ka-shing's son, Richard Li, to surpass his father, which was sold by him, happened here. He sold 20% of the equity to MIH for 12.6 million in June 2001, at which time MIH's shareholding reached 46.4%.

Two years after this, MIH acquired equity from the entrepreneurial team, and its shareholding once exceeded 50%. Not everyone has a long-term vision. Some people in the Tencent entrepreneurial team had already sold their equity at this time.

When Tencent sought to go public on the Hong Kong stock market in 2003, the entrepreneurial team led by Little Pony recovered all the shares from IDG, but it was still less than 50%, so they went to negotiate with MIH and repurchased a portion of the shares from MIH. As of August 2003, after the repurchase, the entrepreneurial team held 50% in total, and MIH held 50%.

After going public on the Hong Kong stock market, MIH's equity was compressed to 36%, but it was still the largest shareholder.

Writing this involves spoilers. Before going public, Little Pony will definitely come back to find the protagonist to repurchase certain shares.

Those who say that introducing investors must provide resources, otherwise don't want them, can you not look at it with today's eyes 20 years ago? Except for money, MIH had no relationship or connections in the country, and what it provided from beginning to end was money. In the internet winter, being able to give money is the greatest help.

It is clearly something that happened in reality, clearly placed here, but there are still people saying that the protagonist is delusional. The first few years of the birth of the internet were inherently a year of miracles. Even Little Pony himself didn't think Tencent could develop to this height, because he himself reduced his holdings of stocks repeatedly after going public. Looking at the current stock price, they were all reduced at a very low position. People who started a business with him even sold their shares before going public. Do you really think everyone has the vision of a time-traveler?

Moreover, Tencent didn't have no enemies back then. It was because it had money to burn that it killed other communication software and remained the only one left. I don't know how many internet startups died in the winter back then. How could Little Pony, who had problems surviving, have the confidence to negotiate with investors?

Let me post another one that Little Pony himself posted. From the first financing to going public, Tencent spent a total of 6.2 million US dollars.

I have already laid out the facts and reasons. If you come to mock again, you are really a "smart aleck"!