My Age of Investment - Chapter 1476 Listing on Facebook (Part 2)

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   Chapter 1476 Facebook Listing (Part 2)

   "Facebook was born in late August 2002. After 7 years and 9 months of struggle and hard work, we finally went from a campus website founded by three college students to Nasdaq.

   All of this is inseparable from the joint efforts and dedication of 4,052 incumbents and those who have left the company, and it is also inseparable from the long-term support and trust of all shareholders.

   Listing means that Facebook will fulfill its commitment to you and bring every employee and shareholder the rewards and rewards you deserve.

   At the same time, it also means that the development of Facebook will enter a new stage.

   Accelerated transformation to mobile Internet and deeper globalization are the next two important development directions of Facebook, and it is also one of the main purposes of our IPO financing.

  Currently, the cumulative registered users of Facebook have exceeded 1 billion. If Facebook is compared to a country, then it will be the third most populous country in the world.

  I believe that the day of becoming the largest country in the world is not too far away.

More users choose and use Facebook, injecting new vitality into Facebook, and bringing more diverse cultures to Facebook, truly turning the earth into a "village" and narrowing the distance between each other , people can freely communicate on the platform and enjoy the collision of ideas brought by different cultures.

   This not only promotes the prosperity of the Internet, but also brings new challenges to the Facebook platform.

   We need to develop a network platform that can carry more users, whether it is 2 billion users, or 3 billion or 4 billion users can use Facebook's application services smoothly.

In addition, we will further strengthen the protection of users' personal and private information, and set up an organization called "Cyber ​​Safety Committee", which will hire independent organizations and individuals as members to discuss child safety, hate speech, misinformation, cyberbullying, fraud and other potential issues, etc. to provide advice and oversight to the enterprise. "

   Looking at Kristina who was chatting on stage, many shareholders fell into deep thought.

The    Cyber ​​Security Committee looks quite fashionable, formal and full of goodwill, but will it have some influence on the growth of Facebook?

  Xia Jingxing's expression was flat and did not have much reaction.

   Because this cybersecurity committee is his advice to Kristina to avoid trouble in the future.

  Although it is still impossible to prevent the troubles caused by information security, at least there is a shield.

   In addition, this is also a conspiracy he prepared to deal with the dark forces.

  Those dark forces tried to pull Facebook into a big plan to monitor the world. As an American company, Facebook could not refuse, and could only join Google and Wisdom Fruit to get rid of the dark forces.

However, after the establishment of the Cyber ​​Security Committee, it can get two member quotas for European countries. In the face of the dark forces, Europeans can at least hum and protest a few times. Even if Japan and Bangguo, they are not eligible for membership quotas. use.

Compared with other U.S. companies that are not afraid of everything, Facebook’s establishment of this cybersecurity committee can be regarded as a relatively low-level figure, trying to please Europeans as much as possible without violating the principle of America first. When dealing with European supervision in the future, The means and response measures are also more flexible.

   As for Google and Wisdom Fruits, if they are loyal to the United States, then let them go. Anyway, there is no shortage of billions and tens of billions of dollars.

   After Kristina's speech, the representative of the Nasdaq exchange also took the stage, congratulating Facebook on its listing as the host, and wildly throwing a bunch of rainbow farts.

   At 9:25 in the morning, all shareholder representatives, executives and employee representatives boarded the bell ringing platform together.

   Christina stood in the center with her son in her arms. She is now the largest shareholder and CEO, and she should stand in the C position.

  Xia Jingxing and Xiaodog stood beside her, and other shareholders and executives stood at a more peripheral position.

   After simply lining up the station, the time gradually came to 9:30.

Seeing the staff under the stage make a gesture, Kristina's hand on the bell ringing platform gently pressed, accompanied by a rapid electronic bell, blue paper fireworks representing Facebook's trademark color rose into the sky, sprinkled all over the place. the whole bell ringing desk.

  Everyone on the stage applauded, waved, and thumbed up cheerfully, maintaining the entire work for dozens of seconds to facilitate the Nasdaq staff to take photos and videos.

   The huge annular curved screen behind everyone also displayed Facebook's big logo at the right time, and the stock price and growth data floated by dizzyingly.

   At this point, before everyone could check the stock price increase, they were called out of the building by Nasdaq staff and took pictures in Times Square.

  The LED advertising screen outside the Times Square building also showed a picture of people ringing the bell at this time.

  Under this huge background wall, everyone took a group photo in twos and threes, and at the same time accepted the photo of the media.

  Xia Jingxing first took a photo with the dog, then took a photo with Andrew and Principal John, and took a photo with countless shareholder representatives and executives, except that he did not share the same frame with Christina.

  The good news reporter shouted: "Daren, take a photo with Christina and Enoch?"

  Xia Jingxing was a little moved, but when he turned his eyes to Kristina and found that the other person was looking at him with a cold face, he immediately extinguished the thoughts in his heart, and finally just took a group photo with his son under the huge advertising screen.

Today is Children's Day. I don't know if this photo will become a famous picture on the Internet in a few years: Dad takes it to ring the bell on Children's Day, and the Children's Day gift is a stock worth 5 billion US dollars... I don't know how many Children's Days in my twentieth, but that's fine!

   After the outdoor photo session, a group of people hurried back indoors, all raising their heads and staring at the stock price changes on the big screen.

   Facebook’s issue price was $40/share, and the opening price was $44.6/share. Since then, the stock price has continued to rise, hitting $50/share at one point.

   Seeing this scene, everyone's hanging hearts were relieved.

  Blankefan patted Xia Jingxing on the shoulder and said with a smile, "Don't worry, with our Goldman Sachs coming out, will this stock price break even?"

Mack Jin-hew couldn't bear to think that Blankfein was rushing ahead of him every time he pretended to be aggressive. He coughed and said, "Daren, your movie + IPO plan is very good, many people started following Facebook a week ago, for the sake of This successful IPO has laid a solid foundation."

  Xia Jingxing smiled, "Both of them are great heroes. Without your help, Facebook wouldn't be able to raise $16 billion!"

Blankfein nodded slightly, pointed to the big screen above his head and said: "The total share capital of Facebook before the issuance is 2.6 billion shares, and the total share capital after the issuance is 3 billion shares. After the green shoe option is fully exercised, a total of 4.6 billion shares will be issued. The total share capital will increase to 3.06 billion shares, and the IPO fundraising will also expand from US$16 billion to US$18.4 billion.

  According to the issue price, the total market value of Facebook has exceeded 120 billion US dollars, and according to the current stock price, it is only one step away from 150 billion US dollars. "

While the three were discussing the stock price and some details of the IPO, the dogs, Andrew, Principal John and others on the side were so happy that they almost jumped in place, and they all took out their mobile phones to calculate the value of the stock in their hands. .

   Equally happy are Facebook’s executives and employee representatives, as this is a collective wealth-making movement that will benefit thousands of people.

Peter Thiel and Yang Jieyuan are the ones who are a little calmer. On the one hand, they have seen many big scenes and have already maintained a normal heart. On the other hand, they have a small shareholding ratio or invested in Facebook. a small price.

  Take Yang Jieyuan as an example, he exchanged his Yahoo shares (actually Ahri shares) for Facebook shares.

However, the valuation of Facebook at the time was only over 40 billion US dollars. If the dilution of the shareholding ratio by the IPO was not considered, he would have made more than twice the profit of this share-swap investment - of course, this is not considering his $25 billion investment. 's valuation empties Yahoo's stake in Ahri.

   "I figured it out, I hold 105.04 million shares at $40 per share, worth $4.2 billion, which is more than $5 billion at the current stock price of $48 per share."

   The little dog was surprised and delighted to count several times, and found that he did not make a mistake at all, it was indeed so much. Although there has been a general psychological estimate for a long time, but until this moment, the valuation has become the market value, how can the dog not be surprised.

   "I also figured it out. I hold 97.5 million shares, which are worth $3.9 billion at the issue price of $40 per share!"

  Seeing the numbers on the calculator, Andrew swallowed a mouthful of saliva. This is the rhythm of entering the rich list! And also in the field of venture capital to fight God!

   More than seven years ago, he invested $250,000 in Facebook, which was then penniless, and now the company has returned him $3.9 billion!

  How many times the rate of return?

   15600 times!

  Andrew was shocked by this number and hurriedly went to see Principal John.

  The old man is still slowly pressing the calculator.

   "What else are you doing? We have the same amount of shares, so don't forget, $3.9 billion, 15,600 times the rate of return!"

  Andrew's voice was a bit loud, and what he said was heard by many people, all raised their heads, and stared at this world's best angel investor who was born out of nowhere.

   Being stared at by so many eyes, Andrew also felt a little bit of heartbeat, so he wouldn't be robbed.

   "I'm joking, let's take it slow!"

   Andrew's words are obviously not believed. Everyone knows that this dead fat man stepped on **** luck. He was the first angel investor to invest in Facebook. At that time, Facebook's valuation was only a mere $5 million.

   Just when countless people were calculating the benefits, Xia Jingxing and Kristina were extremely calm.

  The two people who made the most profit from the company's listing just glanced at each other and looked away.

  Christina holds 587.08 million shares, accounting for 19.19% of the total share capital after the issuance (after exercising the greenshoe option), with a stock market value of as high as $23.5 billion, and more than $11 billion in equity pledge loans and interest.

  Xia Jingxing plus a few Ma Meijin actually held 459.42 million shares of Facebook, accounting for 15.01% of the total share capital after the issuance, and the stock market value was about 18.4 billion US dollars.

   In addition, he also received a $10 billion equity transfer from Christina, holding half of the LP investment share of the Rockefeller joint family office.

  Xia Zerui originally held a 5% stake in Facebook, equivalent to 130 million shares. After the IPO was diluted, only 4.25% remained, with a stock market value of $5.2 billion.

   The total shareholding ratio of a family of three in Facebook is 38.45%.

  Axel’s partner Jim Bryer has also gained a lot, with a $50 million investment in return for more than $6 billion.

In contrast, the returns of Microsoft and DST in the latter round of investment are much lower. Microsoft invested $250 million and earned about $2.2 billion, while DST spent $200 million to acquire the old shares transferred by Axel, earning a little over $1.7 billion.

   Originally, Axel could make more money, because it was safe to do so, and the idea of ​​earning back the capital first, handed over the billion-dollar income.

   Goldman Sachs and Morgan Stanley each invested $500 million in Facebook before, and now they have each received a total return of $1.85 billion, which is a good investment.

   SoftBank, Jerry Yang and David Filo got on the same batch, and almost doubled their earnings.

  The Rockefeller Family Office obtained the equity transferred by Xia Jingxing before the listing. At that time, Facebook’s valuation was as high as 100 billion US dollars, and it only earned a total of 200 million US dollars, and half of it belonged to Xia Jingxing.

Xia Jingxing took a peek at David Rockefeller's expression and found that the old man was smiling at him. He felt a lot more relieved, and only made so much money. The old man was afraid that he would not jump in the next two or three years. This is called deep binding or stuck.

   In a word, this IPO action with shared interests should satisfy everyone, but I don’t know if the package does not include the mysterious shareholders in several S funds of Vision Capital.

   At that time, they subscribed for the second-hand fund shares at a valuation of $25 billion from Facebook. Including the subsequent equity dilution of Facebook, they may have earned about four times.

   And Xia Jingxing took the US$3 billion obtained from the transfer of the fund share to short the subprime mortgage and short the world, and the profit may be dozens of times.

   In this way, the cash-out strategy formulated by Xia Jingxing a few years ago can be regarded as a great success.

   Now that Facebook has been officially listed, Envision Capital, as a hedge fund, can increase its holdings of Facebook stocks at any time, buy low and sell high, and do whatever you want to guarantee.

   (end of this chapter)

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