Reborn in 2000, starting from the university website

Chapter 143 Getting Anxious

Pushing open the door, the atmosphere in the CEO's office was slightly somber.

Liu Xin and Wang Jingbo sat on the sofa, the water in the bucket under the coffee table was almost empty.

The two of them had never been treated so coldly in their high-end office buildings in the China World Trade Center, but today they patiently waited for more than half an hour.

Upon seeing Bai Yuhang enter, Wang Jingbo stood up first, a professional yet gentle smile on her face: "President Bai is truly a busy man. Qihang Technology operates at a pace even faster than garage startups in Silicon Valley."

"Sorry to keep you waiting. I just signed a cooperation agreement and had a few words with the technical department." Bai Yuhang walked to the boss's chair and sat down, casually flipping through a report on the table.

Liu Xin didn't stand up. He adjusted his gold-rimmed glasses, his gaze sharply fixed on Bai Yuhang, and cut straight to the point: "Mr. Bai, let's be frank. The entire investment community has been watching Qihang Technology's activities these past few days. A daily revenue of three million—that's certainly impressive. But in the internet industry, speed doesn't guarantee longevity. Although Sohu has stumbled this time, Zhang Chaoyang has tens of millions of US dollars in cash flow. If he really gets desperate and starts a price war and resource war, Qihang's resources might not be enough to withstand many rounds."

Bai Yuhang leaned back in his chair, his fingers interlaced, not responding, waiting for him to continue.

Liu Xin took a checkbook out of her briefcase and elegantly placed it on the coffee table: "Morningside Capital and IDG have come with sincerity this time. We'll cover the entire Series A round for Qihang. You set the valuation; as long as it's not excessive, you can fill in any number on this check. There's only one condition: we want at least 20% of Qihang's shares, plus a seat on the board of directors."

Wang Jingbo chimed in at the opportune moment: "President Bai, the power of capital is not just money, but also connections and a moat. With Morningside and IDG backing you, as Sohu's two largest investors, Sohu will have to think twice before trying to touch you again."

Moreover, we have the capability to help you launch your business on Nasdaq.

The two bigwigs, working in tandem, attempted to overwhelm the eighteen-year-old with the weight of capital and the blueprint of Silicon Valley.

In their view, an 18-year-old entrepreneur has no reason to refuse when faced with a blank check and the offer of a top venture capital firm.

Bai Yuhang looked at the checkbook on the coffee table and smiled.

He stood up, walked to the coffee table, took two paper cups, filled them with some warm water, and returned to place them in front of the two people.

"Mr. Liu, Mr. Wang, have some water to soothe your throats." Bai Yuhang sat back on the sofa, his tone calm and collected. "You two may have misunderstood something."

"What is it?" Liu Xin frowned.

Bai Yuhang pointed outside the door: "You may have heard it too. The small cooperation I just went to discuss is a strategic agreement with China Mobile. Starting tomorrow, or at the latest the day after, Qihang's recharge channels will be directly connected to China Mobile's SMS billing system. From now on, netizens can buy our services by sending an SMS, and the toll will be reduced by more than half compared to voice information services."

Liu Xin and Wang Jingbo's expressions changed instantly.

"As for Sohu's price war—" Bai Yuhang picked up his teacup, took a sip, "Chen Yizhou's 5Q Campus Network is practically deserted now. He's even resorting to tactics like hairdressing contests and fried chicken legs. Do you think he still has money, or rather, does Zhang Chaoyang still want to give him money to wage a price war with me?"

Bai Yuhang put down his teacup and calmly glanced at the two investment tycoons: "Qihang is not short of money, nor is it short of a moat."

"You two should save your checks and invest them in companies that need to burn money to buy user traffic."

Liu Xin's face darkened, and her gaze behind her gold-rimmed glasses sharpened.

He was used to crushing his opponents with capital at the negotiating table, but today he was humiliated to his face by an eighteen-year-old boy, and he couldn't suppress the inexplicable anger in his heart.

Liu Xin pushed the checkbook forward and tapped her fingers heavily on the table twice.

"Mr. Bai, it's good for young people to be arrogant, but you can't just look at the immediate future in business. Mobile channels can indeed solve your payment bottleneck, but don't forget, the essence of the internet is traffic, it's about burning money to grab market share." Liu Xin leaned forward, his voice carrying an undisguised sense of pressure. "Sohu is currently facing some technical problems, and Chen Yizhou has indeed made a fool of himself, but Zhang Chaoyang has plenty of money. As long as Morningside and IDG agree, we can inject another 20 million US dollars into him at any time. Do you think that if Sohu launches a full-welfare mode and engages in a protracted price war with you, how long can Qihang withstand it with its current resources?"

Wang Jingbo, standing nearby, played the good cop at the opportune moment, her tone gentle yet barbed.

"Mr. Bai, Mr. Liu's words, though blunt, are true. The capital market is not a solo battle; no matter how deep the moat, it can still be vulnerable to a barrage of capital. We are here today with the utmost sincerity. With a valuation of forty million US dollars, we want to offer 20% of the shares of Qihang, plus a seat on the board of directors. This amount of money is enough for you to expand your team tenfold and extend your services throughout the entire internet."

With our endorsement, we'll naturally put in a good word with Sogu. Let's all get along well and make money; we can ring the bell together on NASDAQ in the future. For you, this is the safest and most direct path.

After listening, Bai Yuhang didn't rush to refute.

He reached for the purple clay teapot on the coffee table, poured himself a cup of tea, blew on it to cool it down, and took a sip.

"A valuation of forty million US dollars?" Bai Yuhang put down his teacup, looked at the two investment tycoons opposite him, and couldn't help but laugh. "Mr. Wang, do you have some misunderstanding about my financial data? As I just said, yesterday's single-day turnover was three million RMB. At this rate, my net profit in just over two months can earn back the valuation you quoted. You're using two months' worth of my profits to buy 20% of my shares? I heard your calculations all over my dormitory in Harbin."

Liu Xin's face stiffened, and her brows furrowed into a knot.

"Mr. Bai, that's not how you calculate it. Without capital backing, once Sohu throws money at subsidies, will your red and yellow diamonds still be able to sell?"

"Mr. Liu, Sohu just gave out 10 million RMB in red envelopes a couple of days ago. Didn't you see the reports?" Bai Yuhang leaned back in his chair, spreading his hands. "Users took Sohu's money and immediately came to HaiNei.com to recharge and buy virtual sports cars. If you really want to continue injecting capital into Zhang Chaoyang, I'll wholeheartedly support you. You invest 20 million US dollars, Zhang Chaoyang keeps giving out red envelopes, and netizens take those and then spend them here. Isn't that the same as Morningside and IDG indirectly giving money to Qihang? And they don't even want a single penny of my shares. Where else can I find such a benevolent act?"

Liu Xin was so choked by those words that she felt a tightness in her chest and couldn't catch her breath for a long time.

He had discussed countless large projects in the office buildings of the China World Trade Center, but he had never met an entrepreneur who dared to treat the threat of capital as a joke.

Wang Jingbo coughed awkwardly and picked up the paper cup to hide her expression.

"Mr. Bai, what you said is a bit impulsive—"

"Mr. Wang, I'm a very practical person." Bai Yuhang waved his hand to interrupt him, his tone losing its joking tone and becoming unusually firm. "I understand how capital works; it's nothing more than throwing money at the problem, monopolizing it, and reaping the rewards. But Qihang right now can't be killed by just throwing money at it."

Liu Xin's face turned completely dark. He stood up abruptly, grabbed the checkbook on the table, and stuffed it into his briefcase.

"Since Mr. Bai is so confident, let's wait and see. Hopefully, the mobile distribution channels will keep your money-printing machine running smoothly."