bestfiction Chapter 259 The Objectives of the French National Investment Bank
Chapter 259 The Objectives of the French National Investment Bank
"Ecosystem?"
"Yes." Ling Yun gestured for Carly to turn on the projector, and a diagram of Xingyu's architecture appeared on the screen. "Xingyu is not just a chat application. It's a platform. We open our API, allowing third-party developers to create plugins. For example, a team can use Xingyu as a base to develop project management plugins, file collaboration plugins, and video conferencing plugins. Users don't need to switch between multiple applications; everything can be done within Xingyu."
The technical consultant quickly took notes in his notebook.
"This sounds a bit like... an operating system?" Durand raised an eyebrow.
"That's one way to understand it," Ling Yun said. "But we're lighter and more focused than operating systems. And we're cross-platform—Starry Sky System, Windows, and there will be a mobile version in the future."
"Mobile version?"
"Mobile phones," Lingyun said. "Future mobile phones will become increasingly intelligent, with screens and internet access. Xingyu will be the first to adapt to them."
Durand and his assistant exchanged a glance. "This vision is ambitious. But realizing it requires huge amounts of funding and a strong technical team."
"So we're raising funds," Ling Yun smiled. "Moreover, we already have some foundation. Over four million users, nearly twenty million messages per day, and the development team has complete control over the product."
"Let's talk about the data." Durand raised his hand, and his assistant handed him a document. "According to the data we've obtained, Xingyu's user growth is rapid, but what about retention rate? User stickiness? And most importantly—where is the profit model? You're currently burning money entirely through financing."
The question was pointed. The air in the meeting room seemed to freeze for a moment.
Carly looked at Ling Yun. Ling Yun's expression remained unchanged. He picked up a bottle of water from the table, unscrewed it, and took a sip.
"The retention rate has averaged 68% over the past six months, which is higher than the industry average." He put down his water bottle. "User engagement is high, with an average daily usage time of 47 minutes, and it's still growing. As for the monetization model—we now have two paths."
He held up two fingers. "First, the enterprise version. Aimed at small and medium-sized enterprises, it offers enhanced team collaboration features, larger file transfer limits, and dedicated customer support. It's available on a monthly or yearly basis. We're already testing it, and initial feedback has been very positive."
"And the second one?"
"Secondly, a commission on transactions within the ecosystem," Ling Yun said. "In the future, Xingyu will have an app store where third-party plugins can be listed. Users can download basic plugins for free, but advanced features will require payment. We will charge a 30% platform fee. It will be like an app store, but focused on office and communication scenarios."
Durand paused for a few seconds, his fingers tapping lightly on the table. "How big is the enterprise market? The app store model needs a sufficiently large user base to succeed."
"So we are rapidly expanding our user base," Ling Yun said. "Moreover, we have an advantage that Microsoft doesn't."
"Oh?"
"Neutralization." Ling Yun looked directly into Durand's eyes. "Microsoft is an American company, governed by American law. In theory, the US government can request user data from them. Xingyu is different—we are a global company with a diversified shareholding structure and servers distributed across different continents. We can promise users a higher level of data privacy protection."
That hit the nail on the head. Durand's body language changed; he sat up slightly.
"Europe places great importance on data privacy," Durand said slowly. "A draft of the General Data Protection Regulation (GDPR) is already under discussion. In the future, there may be a 'data wall' between the United States and Europe."
"Therefore, we hope to establish an independent data center in Europe," Ling Yun said. "We will fully comply with EU laws, and the data will not leave Europe. This requires the support of local partners."
"For example, the French National Investment Bank," Durand added.
"Yes." Ling Yun nodded.
The meeting moved into its substantive phase, with Durand inquiring about technical details: server architecture, encryption methods, backup mechanisms, and the development plans for the European team. The technical advisors' questions were highly specialized, some even touching upon the core design of the Starry Sky system.
Lingyun answered each question one by one, while Carly supplemented the data. The Frenchman listened attentively, taking notes and occasionally interrupting to ask follow-up questions.
The clock on the wall pointed to four in the afternoon. The coffee had already been refilled twice, and there was still half a croissant left.
"Finally, valuation." Durand closed his notebook. "What valuation are you expecting?"
Ling Yun didn't answer immediately. He glanced at Carly, who handed him a prepared document.
"Based on Xingyu's current user data, growth curve, market position, and the reference case of Microsoft's acquisition of ICQ, we expect a pre-financing valuation of $8.5 million," Lingyun said. "We plan to raise $1.7 million by giving up 20% of our shares."
Durand's expression remained unchanged, but his assistant took a slight breath.
"8.5 million," Durand repeated the figure. "That's a very high valuation. When ICQ was acquired, it had three million users and a valuation of 4.3 million. Xingyu has four million two hundred and seventy thousand users, but its valuation is almost double that."
"Because Xingyu is more than just ICQ," Ling Yun said. "We have a more complete product vision, technological accumulation, and ecosystem layout. Moreover, the price Microsoft paid for ICQ itself included a strategic premium—they were doing it defensively, to prevent competitors from acquiring it. If Xingyu were acquired by Microsoft's competitors, such as AOL, it would pose a much greater threat to Microsoft."
"Are you implying that Microsoft might become your buyer?"
"No," Ling Yun shook his head. "We are not seeking to be acquired. But Microsoft's existence increases the willingness of all potential strategic investors to make offers."
This was a subtle psychological game. Durand looked at Ling Yun with the same gaze he would use to assess the authenticity of an antique.
"I need to discuss this with the Paris side," he concluded. "But based on today's conversation, I believe we have significant room for cooperation. The French National Investment Bank is interested in becoming a strategic partner for Xingyu in Europe."
"We look forward to further discussions." Ling Yun stood up and shook hands again.
After seeing the Frenchmen off, Carly returned to the conference room and breathed a sigh of relief.
"How is it?" she asked.
"We've succeeded in the first step." Ling Yun rubbed his temples, jet lag starting to kick in. "They're interested, but they'll still haggle. The next few days are crucial."
"Are you still going to dinner with Khalid tonight?"
"Go." Ling Yun glanced at his watch. "It's six o'clock now, dinner is at eight. I'm going home to change my clothes, come pick me up at seven-thirty."
"Okay." Carly tidied the documents on the table. "Oh, by the way, Jim Olson from Microsoft called again. I told him I had plans tonight, and he said he'd call again tomorrow."
"Reply to him tomorrow and say that we can arrange a fifteen-minute conference call the day after tomorrow." Ling Yun picked up his coat. "We can't seem too eager, but we can't completely ignore him either."
It was already dark when I stepped out of the office building. Night falls early in Silicon Valley, and the streetlights were gradually coming on. There was less traffic on the streets, but the cafes were still packed with people.
Carly drove Lingyun back to her apartment. It wasn't far from the company, in a mid-range residential complex, a two-bedroom, one-living room apartment. The room had indeed been cleaned; the floors were gleaming, and the air smelled of lemon-scented cleaning agent. The refrigerator was packed with food: milk, fruit, frozen dumplings, and several cans of beer.
Ling Yun took a shower, the hot water washing away the fatigue of the long flight. He changed his clothes—dark casual pants, a light gray shirt, and no tie. The person in the mirror had slightly dark-rimmed eyes, but his gaze remained clear.