If everyone is reborn, who will work for capital?

Chapter 175 World-Class Tech Giants (6k)

The signing of the Series B financing agreement for Mingfan Technology went smoothly, and Geng Zhi felt completely relieved, his smile never fading.

That evening, he directly invited Tang Yan, Gu Wanning, and Lü Siyu, along with Shen Nanpeng, Yang Dong, Zhang Ying, and Yu Feng, to a high-end private restaurant for a celebratory banquet and a good time.

The private room was brightly lit, and the atmosphere was lively as people sipped their drinks.

During the meeting, Geng Zhi also received a message from Liao Jun, reporting that his former colleague at Tencent, Ju Shibao, had also decided to join Mingfan Technology.

After a few rounds of drinks, the conversation shifted from financing to competitors, and from competitors to the overall industry landscape.

"Mr. Geng, Tencent didn't successfully invest in your Series B round, and they might not give up easily. You should be careful."

"Don't worry, Mr. Geng. Yunfeng Capital and Alibaba Group will be your support. We're not afraid of Tencent."

Meanwhile, Liu Chiping, who had failed in the Series B financing round of Mingfan Technology, led his team back to Shenzhen overnight with a gloomy expression.

Around 11 p.m., Liu Chiping rushed back to the Penguin headquarters immediately after the plane landed to give a detailed report to Marponni in person.

When he mentioned that Geng Zhi adopted an auction investment model, it made Ma Boni laugh.

"Pony, my judgment is that this straightforward young man doesn't have that much cunning. This bidding model is most likely the brainchild of Shen Nanpeng, Yu Feng, and Ma Jieke, who are trying to sabotage us," Liu Chiping said.

Ma Huateng looked calmly at Liu Chiping: "Are you saying that during the previous one-on-one negotiations, Yunfeng Capital promised Mingfan Technology better terms?"

"Yes, at today's auction, the people from Yunfeng Fund argued fiercely with An Wenjing. They definitely came prepared!" Liu Chiping sighed slightly. "I underestimated them."

"It's alright, Martin," Marponni waved his hand. "Investing in Momo was already highly controversial within Tencent, so it's not a bad thing that the investment didn't go through."

Marponi then changed the subject, his gaze sharpening: "How's the market research for the overseas version of Momo going?"

""

"The investment department and the marketing department came up with a plan, and we all agreed that starting with the Southeast Asian market would be the most appropriate.

"Liu Chiping answered."

Ma Boni didn't speak, but gestured for Liu Chiping to continue.

"Southeast Asia is a blue ocean market with rapid growth in mobile internet and extremely high enthusiasm among local users for social networks. Vietnam, in particular, has an exceptionally high ARPU (Average Revenue Per User), which can create business synergy with our gaming business."

"We can leverage the localized teams we've invested in, such as VNG and Garena, to expand rapidly and complete the internationalization loop from investment to product, setting a precedent for future replication in markets such as South Asia, the Middle East, and Latin America."

Ma Boni nodded; Liu Chiping's viewpoint coincided with his.

Tencent's gaming business has been established in Southeast Asia for many years, but its social products have not truly gone global.

The emergence of Momo gave them an opportunity—not to copy the domestic Momo, but to copy Momo's overseas expansion strategy.

"Martin, who do you think is the best person to take charge of this overseas business?" Marponni asked again, his gaze falling on Liu Chiping's face.

"Wu Xiaoguang or Zhang Xiaolong," Liu Chiping answered without hesitation. "I mainly recommend Wu Xiaoguang."

Liu Chiping's answer did not surprise Ma Boni.

Wu Xiaoxi is the head of the QQ client and is currently the most orthodox product manager at Tencent. He has more experience in instant messaging technology and managing a large number of users than Zhang Xiaolong.

Ma Boni also believes that with Wu Xiaoguang creating overseas strategic products, there are less likely to be any shortcomings in terms of product stability and user experience.

"However," before Marboni could comment, Liu Chiping said, "Wu Xiaoguang has been complaining these past few days about the shortage of R&D human resources, so it might not be easy to coordinate with him to do it."

After a moment's thought, Ma Boni said, "Then let's transfer a few people from Zhang Xiaolong's R&D department in Yangcheng. We must get this project going no matter what."

"But Pony, isn't Xiaolong still working on the QQ Mail and Drift Bottle projects? They should be in the final stages by now," Liu Chiping said, puzzled.

"The message in a bottle project isn't very valuable; it's far less important than the strangers going out to sea project. Lower the priority of the message in a bottle project," Marbonni instructed directly. "Go and talk to Old Xiong first, and ask Zhang Xiaolong for some people."

"Okay, Pony." Seeing that Marpony was so confident, Liu Chiping didn't say anything more.

After leaving Maponi's office, he first called Xiong Minghua, Zhang Xiaolong's reporting contact.

In Guangzhou, the Penguin R&D department office is brightly lit.

Zhang Xiaolong's R&D team is still working overtime as always.

The major restructuring of QQ Mail is on track and will be completed in another two or three months. Moreover, the results of the restructuring are quite good, with user activity steadily and rapidly increasing, which makes Zhang Xiaolong very happy.

Moreover, another social networking product he is working hard to develop, "Drift Bottle," has entered the final stage and is expected to be officially launched in a month and a half.

Zhang Xiaolong is very confident about the expected results after the launch of the message in a bottle feature. He even believes that this may be a key step in QQ Mail's transformation from a tool to a social platform.

-

In the general manager's office, Zhang Xiaolong patted Ju Shibao on the shoulder and said with a smile, "Shibao, tell the brothers to grit their teeth and hang in there. After the message in a bottle project goes live, we'll go to the Maldives for a big team-building trip, so the brothers can catch their breath and relax. Those who need to take time off can do so, and those who want to take annual leave can just ask!"

After his trusted lieutenant Liao Jun left the company, Zhang Xiaolong promoted Ju Shibao to the position of head of the research and development team.

Liao Jun not only resigned, but also took several key R&D personnel with him, severely damaging the R&D department's capabilities. Otherwise, the launch date of the message in a bottle project could have been three weeks earlier.

This incident made Zhang Xiaolong, who had always focused on research and development, start to care about the mental state of his employees, fearing that one day another batch of employees would leave.

At this moment, Ju Shibao stood in front of him, his eyes somewhat unfocused.

Liao Jun had previously tried to recruit him to Mingfan Technology, but he was hesitant and asked Liao Jun to go and test the waters first.

After joining Mingfan Technology, Liao Jun reported that everything was fine and invited him to join as soon as possible, promising better benefits the earlier he joined. This made Ju Shibao consider leaving his previous job.

Just as he was about to tell Zhang Xiaolong that he was leaving the company, Zhang Xiaolong's phone rang.

Zhang Xiaolong glanced at the caller ID; it was Liu Chiping calling. He then gestured for Ju Shibao to go out first.

[Liu Chiping]: "Xiaolong, the results of the QQ Mail reconstruction are very good. The user feedback on the super large attachment function is very positive." Liu Chiping praised Zhang Xiaolong extensively on the phone, making him feel flattered.

[Zhang Xiaolong]: "Thank you for your recognition, Martin. Our R&D department in Guangzhou will definitely continue to work hard!"

[Liu Chiping]: "Very good! Xiaolong, the group is preparing to launch a strategic project, a project to expand overseas, similar to the Momo app, and we want to launch it before Momo does."

Over the phone, Liu Chiping gave Zhang Xiaolong a general overview of the overseas project, emphasizing that it was a challenging project with a short timeframe and heavy workload, and that no additional manpower would be allocated to him.

After the introductions were finished, Liu Chiping asked a final, friendly, and polite question.

[Liu Chiping]: "Xiaolong, does your team have the energy?"

Upon hearing this, Zhang Xiaolong's mind raced.

Being given a strategic project by the group shows that they value me, which is a good thing.

But the message in a bottle project was something he initiated himself; it was his hard work, something he could control independently, and something he had high hopes for.

If he takes over the group's project, there's a chance the message in a bottle project will fall through, which is something he doesn't want to see.

Moreover, working on the group's overseas projects requires dealing with various departments and competing for resources, which is somewhat painful for him as he is not good at socializing.

Moreover, his team was unfamiliar with the APP product and had to figure it out from scratch.

[Zhang Xiaolong]: "Martin, we're a bit short-staffed here, and with the email and message-in-a-bottle projects running in parallel, we probably won't have the energy to take on any new projects. Also, our team isn't really familiar with the app project, which might affect the schedule."

[Liu Chiping]: "Oh—I see—Okay then, I'll have Wu Xiaoguang do this, and your Yangcheng R&D department can send a few researchers to support us—"

Zhang Xiaolong:

'

5 minute later.

Zhang Xiaolong was a little stunned after hanging up Liu Chiping's call.

He doesn't understand.

The message-in-a-bottle product he's working on is at a critical stage, and he needs manpower right now. Why would he need to divert his own personnel?

Group-level strategic projects? Group-level strategic projects? Does our Yangcheng R&D department have to give way every time we encounter a group-level strategic project?

On what grounds?

MD!

After calming down, Zhang Xiaolong called Ju Shibao into his office and said, "Shibao, the group has a strategic overseas expansion project that requires us to be deployed—"

Upon hearing this, Ju Shibao guessed that the group was trying to poach him. Worried that he would be even more embarrassed to leave if he delayed any longer, he blurted out before Zhang Xiaolong could finish speaking, "Martin, I want to resign!"

The office fell silent for a moment.

Zhang Xiaolong looked at him, his eyes shifting from surprise to confusion, from confusion to anger, and from anger to an indescribable complexity.

Zhang Xiaolong: "You—you son of a bitch—"

Zhang Xiaolong suddenly felt a pang of heartache.

It wasn't anger, it was a feeling of betrayal.

Liao Jun is gone, and now Ju Shibao is leaving too. His right-hand men are leaving one after another.

"Shibao, tell Brother Long the truth, was it Liao Jun who poached you? Where are you going next?"

"Go to a small startup that has only been established for a few months and start a business together."

The following evening at 6:30, Gong Shijun, after finishing dinner in the cafeteria, left the Baidu Building, hailed a taxi, and headed straight to a teahouse in Houhai for his appointment.

In the taxi, he took out his phone again and started using the Momo app again.

He knew that many young employees at Baidu were using the Momo app. He had downloaded it himself, but hadn't used it much.

Last night, through a friend's introduction, Mr. Geng from Mingfan Technology made contact with him.

Mr. Geng said he wanted to ask him some financial questions and had a chat with him. Without much thought, he readily agreed.

Gong Shijun knew of Geng Zhi's reputation as an industry expert and also knew his story.

In particular, his straightforward theory of "[Heroes are made by the times]" at the Momo press conference left a deep impression on him and filled him with emotion.

He was born in 1971, the same generation as Li Robin, Lei Jun, and Zhou Hongyi, but he didn't achieve the same level of success as them.

He vividly remembered Geng Zhi's statement that "mobile internet is the next wave," but at Baidu, senior decision-makers didn't seem to pay much attention to it.

Baidu's strategic focus remains on browser search, Google, and the Phoenix Nest system, while its mobile business has been marginalized. The map business is under the search department and doesn't even have an independent business unit.

He also really wanted to meet and have a chat with this Mr. Geng.

In a private room of a teahouse called "Tingyuxuan" in Houhai.

Geng Zhi arrived half an hour early, ordered a pot of Longjing tea, and quietly waited for Gong Shijun to arrive.

At 7:25 p.m., the door to the private room was pushed open, and Gong Shijun, wearing a dark gray POL0 shirt, walked in.

"Mr. Geng? I'm sorry to have kept you waiting." He extended his hand, his steps steady.

"Mr. Gong, it's an honor to meet you." Geng Zhi stood up, went to shake hands, and said, "I'm Geng Zhi."

The two shook hands amicably, quickly sizing each other up.

Gong Shijun noticed that Geng Zhi's youth was even younger than he had imagined. That youthfulness wasn't naivety, but a vibrant confidence.

"Mr. Geng, you look even younger than I see on TV!"

"Mr. Gong, you flatter me." Geng Zhi smiled and offered him a seat. "Please sit down, please sit down."

The two men sat down, exchanged a few pleasantries, and then Geng Zhi gave a brief introduction to the company's current situation before asking the two men for their advice.

Professional financial issues.

Gong Shijun patiently and professionally answered every question.

When Geng Zhi mentioned that the company had just raised tens of millions of US dollars at a valuation of several hundred million US dollars, Gong Shijun's eyes visibly lit up.

A startup that has only been established for six months, with a business focused solely on mobile devices, has reached a valuation of hundreds of millions of US dollars. This is absolutely a miracle in China's internet industry.

He stared at Geng Zhi with disbelief: "Mr. Geng, I remember your valuation was only 3000 million US dollars two months ago, right? Now it's worth hundreds of millions of US dollars?"

"That's right." Geng Zhi smiled and nodded, picked up his teacup and took a small sip. "This is the power of the new era, this is the charm of the mobile internet."

Gong Shijun remained silent, his shock beyond words.

Just as he was still pondering Momo's valuation, Geng Zhi suddenly changed the subject: "Mr. Gong, where do you think Baidu's growth points will be in the next decade?"

Gong Shijun frowned, then replied, "O020O, and mobile search. Robin has repeatedly emphasized these two directions in internal meetings."

"Do you believe it yourself?" Geng asked directly, looking directly into Gong Shijun's eyes.

Gong Shijun did not answer.

This is the company's slogan, but he himself doesn't believe it—O020O burns money too fast, and the commercialization path of mobile search is unclear.

The company's business system is too disorganized. Search, maps, Tieba, Baidu Baike, and Zhihu are all operating independently and have not formed a synergy.

"Mr. Gong, you previously worked at Morgan Stanley, then went to PricewaterhouseCoopers, why did you ultimately decide to join Baidu?"

When asked about this, Gong Shijun smiled, his tone tinged with emotion: "After working in investment banking for several years, my body couldn't take it anymore. Besides, I was doing accounting and due diligence for others every day, and I wanted to get involved myself. Luckily, there was a opening for the CFO position at Baidu, so I took it."

"I see." Geng Zhi nodded and continued to ask, "So, after spending three years at Baidu, what was your biggest takeaway?"

Without hesitation, Gong Shijun instinctively replied, "Baidu is a good company. It's a large company with a mature system, and its finance team is very professional."

"Mr. Gong only mentioned the good points!" Geng Zhi joked with a smile, a hint of amusement in his eyes. "Doesn't Baidu have any aspects that you find unsatisfactory, any shortcomings?"

Gong Shijun's smile gradually faded, and a strange feeling arose in his heart—he suddenly felt that the atmosphere today was a bit odd.

Geng Zhi clearly stated that he wanted to ask about financial issues, but the questions he's asking are starting to sound more and more like an interview.

Could it be that he's trying to poach me?

The thought flashed through Gong Shijun's mind, but he didn't show it.

He paused for a few seconds before honestly replying, "Working in a large company for a long time sometimes makes you feel like there's limited room for maneuver. Many things can't be done the way you want; there are procedures, systems, and various reporting lines."

"Let me translate what Mr. Gong means: You are a capable and ambitious person, but at Baidu, you are constrained and your talents cannot be fully utilized. Right?" Geng Zhi looked at Gong Shijun with a serious expression.

Gong Shijun remained silent, but did not deny it. He picked up his teacup, took a sip, and then put it down.

Geng Zhi poured Gong Shijun a cup of tea, his tone becoming sincere: "Mr. Gong, let's not beat around the bush. Mingfan Technology has just completed its Series B financing, with a valuation of $250 million. Sequoia Capital led the investment, with Matrix Partners and Yunfeng Capital participating. We urgently need the best and most suitable CFO, and I would like to invite you to take on this role."

The private room suddenly fell silent.

Gong Shijun was neither overly surprised nor refused, but simply looked at the young man in front of him quietly, as if confirming something he had already guessed.

After a long silence, Gong Shijun finally spoke slowly in a low voice: "President Geng, I'm very curious. Why do you think I'm the most outstanding and suitable CFO?"

Instead of directly answering Gong Shijun's question, Geng Zhi began to explain his philosophy.

"Mr. Gong, what you see is our main product, Momo, but our ambitions go far beyond just Momo. As the company's valuation has increased, we have higher aspirations and plans, which is also why investors recognize our value."

He paused briefly, then continued, "But all of this requires a professional, full-time CFO. We've been searching for almost three months, talking to four people, but none of them are a good fit."

Gong Shijun raised an eyebrow and said bluntly, "Is it that General Manager Geng didn't like the candidate, or that the candidate didn't like Mingfan Technology?"

"Attorney Gu Wanning recommended two, and President Shen Nanpeng recommended two. We didn't like three of them, and the other one didn't like us." Geng Zhi answered honestly and straightforwardly without hesitation.

"Oh? I'm curious, what are Mr. Geng's requirements for a CFO?" Gong Shijun asked.

"Must have experience in investment banking/the Big Four accounting firms, experience in technology companies, expertise in financing negotiations, financial modeling, and offshore tax planning, familiarity with the VC/PE industry, IPO auditing, and company mergers and acquisitions, and most importantly, the ability to keep secrets."

Geng Zhi rattled off a whole bunch of things, leaving Gong Shijun stunned.

Investment banking, accounting firm, and internet company experience – this is hardly the standard for a startup!

This is practically the hiring standard for a CFO at a world-class tech giant!

"Mr. Geng, what are your hiring standards? —"

"My hiring standards are too high, aren't they?" Geng Zhi asked with a smile.

Gong Shijun nodded.

"That's right, that's why my company is worth $2.5 million," Geng said frankly. "Our goal is the stars and the sea."

Gong Shijun was speechless.

"That's why we at Mingfan Technology are looking for you, Mr. Gong," Geng Zhi added immediately.

These words touched Gong Shijun, and the vanity he hadn't felt in a long time was satisfied.

Gong Shijun pondered for a moment, then continued with a serious expression, "Why does Geng Zhi think I would leave Baidu, a company with a market capitalization of nearly 400 billion US dollars, to join Mingfan Technology, which is valued at only 2.5 million US dollars?"

Geng Zhi picked up his teacup, took a sip, and said leisurely, "Because although Baidu's market value is close to 400 billion US dollars, President Gong's annual salary is less than 400 million yuan."

Gong Shijun was speechless for a long time.

His annual salary is only 140 million, and even with the year-end bonus, it doesn't exceed 220 million. Even if he liquidates his stock holdings, his total annual salary, amortized over the years, would be less than 350 million.

"I know that you, Mr. Gong, are someone who likes challenges, but at Baidu, you can't really showcase your true abilities. At Baidu, you report to CFO Chai Xiaojing, and your role is mostly execution."

"Furthermore, Baidu has been in turmoil lately, with Li Luobin becoming increasingly centralized in his power, so Mr. Gong, your influence has diminished. Am I right?"

Gong Shijun remained silent for a moment, but nodded slightly.

What Geng said is the truth.

Baidu has indeed been in a period of great turmoil this year, undergoing a period of internal restructuring and frequent changes in senior management, with CEO Ye Peng and CTO Li Yinan leaving the company one after another.

Following this upheaval, Li Luobin directly took control of the company's strategic direction and strengthened vertical management of core business lines after the executive changes. The company is now more inclined towards a highly centralized decision-making model, and its power structure exhibits the characteristics of "strong CEO, weak deputy".

"But our alum technology is different. We are currently in a period of high growth, and our team is young and energetic. You can see that from me."

Gong Shijun smiled slightly.

Geng Zhi didn't say anything more, took out a piece of paper from his bag, and pushed it to Gong Shijun.

Gong Shijun frowned, took the paper and read it: annual salary of 200 million, signing fee of 50, stock options of 1.2%, vesting over four years.

After reading the terms Geng Zhi offered him, Gong Shijun quickly calculated the value of the options in his mind.

"Mr. Gong, 1.2% of the options are worth $3 million. If the valuation increases tenfold, it will be $30 million," Geng Zhi added at the opportune moment.

15 minute later.

The two purple clay cups touched lightly. Geng Zhi stood up and shook hands with Gong Shijun: "Mr. Gong, I'll give you five days to consider. I look forward to your decision."

After finishing all his work in Beijing, Mr. Geng, the general manager of Mingfan Technology, immediately led his team to Shanghai to prepare for the arrival of the distinguished guests.