Reborn in 2000, starting from the university website

A soft laugh came from the other end of the phone, crisp like the sound of ice cracking.

"If I told you that I was just about to page you on the phone, would you believe me?" Su Muqing's voice was less cold than usual, and more relaxed, the kind of relaxation she only showed when she was with Bai Yuhang.

"Trust it, that's the intuition of a big capitalist, they come right when they smell it." Bai Yuhang pulled his coat collar tighter. The wind in Harbin at night was as hard as a knife, seeping into the cracks of the phone booth, but he felt inexplicably at ease. "How's it going? Any movement from Beijing?"

"It's not just a buzz, it's an uproar." Su Muqing's tone suddenly turned somewhat helpless, yet also revealed an undisguised excitement. "Do you know what the computer lab at the University of International Business and Economics is like right now? Even the aisles are packed with people. Before, everyone was just chatting and arguing on the BBS, but now the first thing they say when they meet is, 'Hey, who poked you?' or 'Have you seen so-and-so's homepage from the next class?' Even my friends from the student unions at Peking University and Tsinghua University are asking me who this 'Qihang' project is. Their Tsinghua BBS is flooded with news about Qihang on the campus network."

Bai Yuhang's lips curled up, his fingers unconsciously fiddling with the metal wire on the telephone: "Viral spread, that's the charm of real social networks. The more elite the circle, the stronger the voyeuristic desire and the need for self-expression become once that barrier is broken."

"Don't try to fool me with fancy words." Su Muqing interrupted him. "Tell me the truth, what are the actual figures in the backend? Don't try to fool me with those empty promises you've made outside."

"I took a look before I went back to school." Bai Yuhang breathed on the fogged-up glass and drew a circle. "Registered users just surpassed 300,000."

There was a brief silence on the other end of the receiver, broken only by the crackling of electricity.

After a long while, Su Muqing slowly exhaled: "Three hundred thousand... and it's only been online for a few days? This is 2000, right when the internet bubble burst, and Nasdaq is bleeding. If you release this data, it will shock the internet bosses in Zhongguancun."

"This is probably just the beginning." Bai Yuhang spoke calmly, as if discussing a trivial matter. "These 300,000 aren't zombie fans; they're all young people under 27, primarily with high levels of education or currently receiving higher education. This group will be the most powerful and influential consumer group in China over the next ten to twenty years. Plus, with the 'Blue Speed ​​Cup' in Harbin being the first city-level esports competition in China, this fire has already spread nationwide via the internet. Currently, the number of new registered users is stable at around 40,000 per day, and if the servers don't crash this week, that rate could double."

"Forty thousand a day..." Su Muqing muttered to herself, then her voice sharpened as she cut to the chase, "Since the data is so strong, things will be much easier from here on out. Yu Hang, do you know how many people I've 'bumped into' at the library these past few days?"

"Let me think, could someone be carrying a pig's head and looking for the temple gate?"

"A bit more expensive than pork head meat." Su Muqing laughed. "Although the capital market is cold right now, that's only true for those PPT companies that only burn money and have no ability to generate revenue. The data from Qihang Music Station alone is like a torch in a blizzard. I previously asked my teacher to contact several VC angel investors. This kind of information has no barriers in their circles, and the wolves have already smelled the scent and are swarming in. Currently, there are two groups of people contacting me."

Bai Yuhang switched hands to hold the receiver: "I'm all ears."

"One group is the regular army. An investment manager from IDG contacted us through alumni connections, saying they are optimistic about Qihang's social stickiness and want to discuss valuation and equity investment. They're looking to fish for big fish in the long run. And then there's another group..." Su Muqing paused, a hint of amusement in her voice, "coal bosses from Shanxi, Inner Mongolia, and Zhejiang who want to transform into high-tech companies and pave the way for their children."

"Oh? The coal boss is generous."

"They were really generous. They didn't know anything about PE or VC, and they didn't talk to you about daily active users or retention rates. The boss's exact words were: 'This website is quite lively. My son goes online every day to chat with female classmates. I want to set one up too.' He asked for eight million."

Bai Yuhang raised an eyebrow: "Eight million? Valuation? That's not high."

"No, it's a buyout." Su Muqing lowered her voice slightly. "Eight million RMB, cash, one-time payment. Selling him the whole package, including the people, the technology, the code, and the data. He'll even hire you as his general manager, with a separate annual salary."

In 2000, eight million yuan could buy half a street of shops in Beijing's Third Ring Road, enabling a freshman to achieve financial freedom instantly, or even allowing an ordinary person to live comfortably for two or three lifetimes.

"Yuhang," Su Muqing asked softly on the other end of the phone, seemingly testing the waters, yet also anticipating, "This money is enough for you to buy a big house in Beijing, and a Ferrari to go for a spin. Tempted?"

The wind howled through the phone booth, making a whistling sound.

Bai Yuhang looked at the pitch-black night outside the glass window and suddenly laughed. His laughter traveled along the telephone line, carrying the wildness of a young man and the certainty of a reborn person.

"Mu Qing, are you testing me?" Bai Yuhang pulled a coin from his pocket, flicked it between his fingers, and caught it. "Eight million, that's a lot. The change could buy several truckloads of cabbages. But if I sold Qihang like cabbages, I'd be destined to be a vegetable farmer for the rest of my life. Eight million can't even buy a single spot on Qihang's future business. We're building internet infrastructure, not some small-time trading business. Buyouts are out of the question; we're only talking about financing."

"I knew it." Su Muqing seemed to breathe a sigh of relief, her tone becoming lighter. "So, I'll refuse? What's the reason?"

"I told you..." Bai Yuhang lit a cigarette, watching the white puff of smoke rise, "This little bit of money can't even buy the rivets for the Qihang ship. Let him keep the money and buy a coal mine; that holds its value."

"Okay, that's pretty arrogant," Su Muqing laughed. "What about IDG?"

"Let's keep them hanging for now." A glint of shrewdness flashed in Bai Yuhang's eyes. "It's not the right time yet. After the 'Blue Speed ​​Cup' finals are over, and after we've surpassed one million registered users, that's when we can sit down and teach them how to write the word 'valuation'."

"One million..." Su Muqing gasped, "Your appetite is truly enormous."

"The timid starve, the bold thrive." Bai Yuhang glanced at the remaining ten-odd yuan on his IC card. "Alright, you've worked hard these past few days, running around everywhere. Once this wind picks up, I'll treat you to Quanjude roast duck, all you can eat."

"You think you can fob me off with roast duck?" Su Muqing snorted. "I want the most expensive one."

"No problem, I'll even pack the fried duck carcass for you."