"Little Dragon Girl" Listing

"Good breakfast.

I haven't eaten it for a long time. "

At nine a.m. local time on May 11th, the two floor of the NASDAQ Exchange is staffed.

From 2003, to create a marriage and love web site for the purpose of finding a good husband, to create the first serious marriage and dating website in Shanghai, and then to the NASDAQ in the Cayman Islands registered Jiayuan International Limited company in 2003.

Gong Haiyan went on this road for eight years.

Being criticized, suspected of getting into a lawsuit, Document No. 75 blemish, paction delay, anyway, at least, she came to NASDAQ.

Now she just wants to placate her stomach after eating for nearly a month.

Gong Haiyan, the founder and CEO of Jiayuan (code DATE), likes to be called "Little Dragon Girl". This is her net name. Let's call her this way.

Angels of the Little Dragon Girl

Seeing Qian Yongqiang in 2005 was the first time that Xiao Long Nu saw herself.

They chatted for more than an hour in Shanghai Jinmao.

Qian Yongqiang told Xiao Long nun that he had sent a person to the undercover activities at the Jiayuan line of the century. He had returned from the undercover home to tell him, "people queuing up to buy tickets have dozens of meters long."

Money is always shocked, and little dragon girl is secretly frightened.

Sensitive to a French dating website.

Because of the identity of Qian Yongqiang, one of the founders of New Oriental, many people know this investment story.

But few people know that Qian Yongqiang is not the first angel investor of Xiao Long nu.

In 2003, Xiao Long nun spent only 1000 yuan when she started the century Jiayuan. Later she spent more than 10 thousand yuan to buy the server. But before long, she found that if you want to make the website work as a career, you must have more money.

At that time, she had no money.

When she chatted online with a netizen in Yiwu, Zhejiang, she spoke of her predicament.

The net friend gave her 100 thousand yuan.

"He just thinks that as a graduate student from Fudan University, he should have 100 thousand yuan."

Little dragon girl said.

The netizen's 100 thousand yuan in that year could be multiplied by 1000 on the day of Jiayuan listing.

The Zhejiang businessman now has a software company, and when Xiao Long Nu goes to the Nasdaq, he goes along as an investor shareholder.

On the day of the listing, he bought a lot of things in Fifth Avenue, New York, giving a valuable bag to Xiao Long Nu, and said to her, "thank you for letting me make so much money."

Xiao Long nun also teased him, "like a nouveau riche."

Goodbye to angels, 2007.

Xu Xiaoping said that the reason for investing in Jiayuan is very simple.

To do the New Oriental training abroad, there are more than 60 people in a university. Maybe only a few can go abroad. Almost a university may not be able to go abroad in one class, but these more than 60 people all need to find the target market.

In fact, it was also later. When Xu Xiaoping saw Xiao Long nun in 2007, she quietly told her that he had been looking for a person to visit Jiayuan Before Qian Yongqiang. He could go back and tell him, "this company is not long."

That led him to miss the good opportunity.

So when Qian Yongqiang wanted to invest in Jiayuan for the second time, he immediately joined Wang Qiang.

Jiayuan is awarded the 40 million yuan angel investment of Qian Yongqiang, Xu Xiaoping and Wang Qiang, the three elder statesmen of New Oriental.

After the listing of Jiayuan, Qian Yongqiang, chairman of the board, holds 31.03% of the company's shares and is the largest shareholder.

He sold 600 thousand shares of common stock (about 400 thousand shares of ADS) at a selling price of $11, and cash in the amount of $4 million 400 thousand, holding a decrease of 10 million 880 thousand shares (about 7 million 250 thousand shares of ADS), which is worth 79 million 750 thousand US dollars.

Xu Xiaoping and Wang Qiang did not sell stocks.

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40 million yuan was over 12 times the rate of return.

"Many people are not optimistic about ordinary me".

Gan Jianping, the managing director of Qiming venture capital, is the only VC investor in Jiayuan. He said: "the decision to invest in Jiayuan is still relatively fast.

Because there must be a huge market for online serious and serious friends.

We hired third parties to make an audit of Jiayuan, confirmed that its user volume is the biggest, and Xiao Long Nu's reputation in the industry is also the best, so we chose to invest.

Now it sounds like a logical investment cooperation is not that easy.

Xiao Long Nu saw many investors from 2006 to 2007, but the last thing she talked about was Kai Ming.

It is not that other people are not optimistic about Jiayuan and its marriage and love market, but many people have knocked back after the interview with Xiao Long nu.

"I am too simple. Many people are not optimistic about ordinary people. I have not made them feel that they can accomplish great things."

Xiao Long nun smiled and said quietly, "finally, we were persuaded."

After three or four months of contact with Gan Jianping, Qiming ventures invested $10 million in Jiayuan.

Later, Xiao Long Nu felt that she was really looking for a right person. "Some VC didn't recognize me when they talked about valuations, but they lowered me, but Kai Ming did not."

Moreover, Jiayuan later appeared charging mode because of Gan Jianping's suggestion.

At the news conference of Jiayuan, Gan Jianping said to Xiao Long nun, "we have to serve the people with pay. First, we must do well in service, and then we must find ways to receive money.

Otherwise, the funds will be broken, and they will be closed.

So Xiao Long women began to think about creating value, and let users willing to pay for the value.

The little dragon girl of Pisces does not show romantic sentimental side, but on the contrary, it makes people feel very rational.

For investors, her attitude is: "others have already given you money, why do you expect others to give you additional value?"

Therefore, she will think and implement the inspiration from the occasional communication with investors.

Qiming venture capital has now received nearly ten times the return.

With sufficient funds, in October 18, 2008, Jiayuan Jiayuan's stamp value-added service was launched online.

Xiao Long nun has a vague idea of going public. Once she told the media: "Jiayuan prepares to go public three years later."

She was lucky to have fulfilled her promise.

In 2010, a member of century Jiayuan found Xiao Long nun and told her that he was a member of the NASDAQ. After seeing the financial data of Jiayuan, he said to the Little Dragon Girl: "you already have the conditions for listing on the Nasdaq, do you think about it?"

Xiao Long women feel that, since there have been nine consecutive quarters of sustained growth, the company's size has also met the requirements, why not?

The NASDAQ member has become a subjective reason for her choice of NASDAQ. "No one in the country came to me to tell me about the listing, and I don't know who to go to the market in China."

She finally chose the Nasdaq, which is much simpler in the process.

After beauty pageant, she selected Merrill Lynch and Citibank as listed underwriters.

The big drama that lasted for six months opened the curtain.

Be rational and not sentimental.

The preparation process for the listing has gone smoothly.

Qiu Wenyou, managing director of Bank of America, Merrill Lynch, one of the Underwriters, evaluated the management team of shijiayuan: "this is an honest and rational team."

Six months ago when Jiayuan was ready to go public, Qiu Wenyou began to have peripheral contacts with the company. The first thing he wanted to do was to test whether they were liars.

He admitted that from 1999 to now, he often encountered speculators in helping nearly thirty domestic enterprises to list abroad.

Therefore, judging the integrity of the team has become the first criterion.

"Jiayuan is a company that has achieved nine points, but it will say that it has only achieved seven points."

Qiu Wenyou said that during his due diligence, the company's data confirmed his feelings.

The reason why Xiao Long girl chose the Bank of America and Merrill Lynch and Citigroup in the process of beauty pageant is: "we will not have a sensation IPO when we go public, so I have to find companies that sincerely serve us."

The problem of pricing became a sensitive issue before all Chinese companies went abroad.

This is also the most vulnerable place for underwriters and companies.

Jiayuan is no exception.

"Jiayuan has a large number of orders in the road show."

Qiu Wenyou said.

The route shows are: Hongkong, Boston, New York, Chicago, Kansas, San Francisco, Philadelphia, and then go back to New York.

Before the road show, Qiu Wenyou's price range to Jiayuan Ding was $10-12, according to the company's account book.

After the end of the roadshow, according to the analysis of orders, Jiayuan can be set at the highest point of the interval, but he still discussed with the company executives to set the price at 11 yuan.

When conflict between sensibility and rationality, Qiu Wenyou felt that executives at Jiayuan were very rational.

Finally, the executives asked Qiu Wenyou only one question: "set at 11 dollars, can you guarantee the company's stock price in the first day, the first week, the first month?"

Qiu Wenyou's answer is: "it's much better to set us $11 than to raise US $12."

Jiayuan approved the opening price of US $11.

On the day of pricing, Renren fell below the issue price, and the US stock market showed unfriendliness to Chinese Internet companies during that week.