The reason why the third-, fourth-, and fifth-tier cities are chosen as the key areas of the film roadshow is that on the one hand, the nonsensical and funny style and content of "Havoc in Tianzhu" are very suitable for the movie-watching tastes of young people in small towns; The input-output ratio of roadshows is higher, and the star effect will be magnified.

Its revenue reached 1 million euros last year, with monthly recurring revenue exceeding 150,000 euros at its peak, and its monthly compound growth rate has been stable at 10% over the past year.Similarly, for many business models that rely on free users to generate online marketing and hope to quickly seize market size in the early stages of entrepreneurship, the above coefficients are also not applicable.

Let’s talk about the perspective first: The probability of successfully realizing Series B financing is 10% after signing the oldschool investment term sheet; after signing the #powerlaw investment term sheet, the probability of getting Series B financing is 10%; After signing the #downtoearth term sheet, the probability of receiving Series B financing is 70%; VC Oldschool (low valuation): After the seed round and additional dilution of the Series A round, our founders will probably be able to hold a stake in the company About 40% of the equity, the reason for saying this is entirely because the valuation is too low.Now, let's forget about this hypothetical example of the SaSSy company.I've met with at least three companies in the past six months that we at the venture capital firm would have happily signed on to invest in if they hadn't raised at such high valuations before.

Once this situation occurs, it is called “DownRounds”.Of course, if the evolution continues, the equity of Series A venture capital will also be diluted by the entry of Series B venture capital... VCPowerlaw (high valuation): If our founders choose a valuation of 22 million, then they There is no choice but to immerse yourself in running the company so that it can move smoothly on the planned trajectory without any bumps! Because venture capital is based on your market situation in 2 or even 3 years. It's worth it, so if you reveal even a little bit that it's impossible to achieve, the Series B financing will be completely ruined, unless you can find another "powerlaw" venture capital willing to give you a super high valuation to take over the deal.

Why is this? Let's give an example! Now, let's say there is a company called SaaSSy, which of course is a SaaS company.

The third venture capital firm is willing to base its valuation on the company's revenue in half a year to a year.Later, he had to co-found what became CDH Investments with his colleagues.

  Therefore, if it is these people who have made CDH Investment the golden name, it is these people who are now blocking CDH Investment’s progress.Investment is like a battlefield, not only the competition is fierce, but also the competition among investment masters, if you are not careful, you will lose. It also began to fall like a meteor, and it is no longer the honor of entrepreneurs—according to a serial entrepreneur, among a bunch of investment institutions, if they get TS, they will be the first to give up CDH Investment, because it is not Mainstream VC.

      However, investing is investing in people.In other words, an era has passed and CDH Investment has missed the best time.