Chapter 160: Chapter 149: The End of an Era, the God of Wealth in the Eyes of VCs

「Five days later, on September 23rd.」

Ali Baba’s brand department officially announced that the company, in partnership with Lotte and Augusta Capital, would acquire FoxTao—the country’s leading e-commerce shopping guide—through an equity swap.

The 74.48% stake held by Chen Yansen’s Senlian Capital was jointly purchased by Ali, Lotte, and Augusta Capital.

Chen Yansen successfully cashed out 12 billion from the transaction.

Although he still had to pay over a billion in taxes, Chen Yansen’s ten-billion-plus net worth was finally the real deal—not just a valuation or market cap.

As for the shares held by Penguin and Siwei Capital, the transaction was kept exceptionally low-key, but it was exposed by industry insiders within two days.

Penguin raked in a cool 2 billion!

Siwei Capital pocketed 1 billion!

All at once, investment firms across the country set their sights on Chen Yansen and his Orange Technology.

This wasn’t some 19-year-old college kid; he was clearly the God of Wealth!

The co-founders of Digital Sky Technology, IDG, and Redwood Capital all called to exchange pleasantries, the underlying message being that as long as Orange Technology opened a funding round, everything was on the table.

He could name any price, and they would immediately go raise the funds.

Zhou Shouzhi, in particular, couldn’t sit still. That very night, he sent Chen Yansen a price list for electronic component procurement.

If Orange Technology agreed to Digital Sky Technology’s investment proposal, DST’s top boss promised to personally visit companies like Qualcomm and Sony to help him knock another 10-20% off the quoted bulk purchasing prices.

Additionally, the settlement period for payments could be extended from three months to six.

IDG Venture Capital also had extensive resources in the smartphone supply chain and could help Orange Technology integrate its suppliers and tighten cost controls.

After a moment of thought, Chen Yansen told Zhou Shouzhi and IDG’s head of investment, Dong Shun, to prepare valuation proposals.

Someone else might have rejected the investment offers from IDG and Digital Sky Technology, but Chen Yansen wasn’t that foolish.

He deeply understood the benefits of making the pie bigger. Besides investing in phone manufacturers, these venture capital firms were also involved with numerous suppliers of chips, batteries, screens, and cameras.

By bringing in their capital and resources, Orange Technology could optimize its supply chain, lower material costs, and increase its gross margin.

After finishing his work in Hang City, Chen Yansen returned to Xucheng with his team.

The homepages of the three major web portals and Penguin News were plastered with stories about Chen Yansen and FoxTao.

Previously, Chen Yansen had only been famous within e-commerce and internet circles. This time, he broke into the mainstream, and his public profile skyrocketed.

A 19-year-old college student, 6’1", tall, handsome, with a net worth in the tens of billions.

This combination of keywords made Chen Yansen an instant internet sensation.

As a result, pre-orders for the Orange Mobile Phone hit a new high, surpassing 3.3 million units, with estimated delivery dates now five months out.

Meanwhile, the Xiaomi Mobile Phone, which had been on the market for nearly a month, had barely managed to sell 500,000 units.

It was already 6:30 p.m. when Chen Yansen and the others returned to Xuyuan.

The sky was growing dark, and the evening breeze carried a slight chill.

"Boss, I’ll be heading home. I’ll handle the tax matters related to the stock sale."

Gao Weilin said to Chen Yansen after getting out of the car.

"I appreciate it. I’m planning to open Orange Technology’s Series A funding round, so things are about to get busy."

Chen Yansen added, rolling down the car window to speak to Old Gao.

"No problem." Gao Weilin smiled and turned to leave.

"Should we go to the Innovation Park?" Song Yuncheng asked quietly from the driver’s seat.

"Yeah, let’s head over," Chen Yansen replied succinctly.

As the boss, Chen Yansen didn’t have to explain himself to his subordinates, but they had worked together for a year, and there were some loose ends that required his personal attention.

The Innovation Park was brightly lit. Aside from the clamor of the Investment Attraction team on the phone with merchants, the other workstations were completely silent.

THUMP, THUMP, THUMP—

Footsteps echoed from downstairs.

Xiang Pengfei instinctively stood up and looked toward the sound.

"Brother Sen!"

Recognizing who it was, Xiang Pengfei hurried forward to greet him, only to stop short.

He had wanted to ask Chen Yansen why he had suddenly gone back on his word after promising he wouldn’t sell the project.

But the words caught in his throat. He felt the question was too childish, so he just stared at Chen Yansen, at a loss for what to say.

"What’s wrong? You’re not happy to see your boss make a fortune?"

Chen Yansen said with a friendly laugh, patting Xiang Pengfei on the shoulder.

A year ago, they had all pulled long hours together, working on features like "Bargain to Zero" and the launch of FoxTao 2.0.

As Chen Yansen’s net worth soared, Xiang Pengfei and the others found it increasingly difficult to call him "Brother Sen." Some, like Zhang Wenbo, had already started following the lead of the Orange Technology employees and were calling him "Boss."

"Not at all. We’re all happy for you," Xiang Pengfei said, forcing a smile. His words rang hollow.

These one hundred-odd people had built FoxTao from the ground up, step by step.

’How could I not be upset now that it’s been sold?’

"Xu Dan! Get everyone together for a quick meeting!"

Chen Yansen called out to Xu Dan, who wasn’t far away.

After extensive negotiations, it had been decided that the FoxTao employees would be transferred to Ali.

Aside from the customer service team, Ali was willing to take on the other groups. The Investment Attraction, Category Management, and Key Accounts teams—FoxTao’s core assets—were priority targets for integration.

FoxTao members filed out of their offices, spread across more than a dozen units in the building. They gathered in the open space on the second floor, all eyes fixed on Chen Yansen.

Some of them wanted to ask Chen Yansen why he had deceived them at the beginning of the month, but even after all 160-plus employees had assembled, no one dared to speak up.

"I’m sure you’ve all seen the news. The online reports are more or less accurate."

Chen Yansen began, bluntly confirming the sale of FoxTao.

He paused, then continued, "Ali will be sending people to FoxTao next Monday. Team leads should prepare for the handover. I know everyone is concerned about what will happen to your salaries and benefits after the acquisition."

Pausing for a moment, he went on, "First, Ali will be relocating FoxTao to its headquarters in Hang City this October. Anyone unwilling or unable to move to Hang City will receive an N+2 severance package."

"For those willing to join Ali, starting in October, team leads—with the exception of those in Investment Attraction and Editing—will be compensated at Ali’s P7 grade. The former head of Yitao, Dongxie Wu Ming, will serve as the general manager of the new FoxTao business division."

Chen Yansen held nothing back, laying out every detail of the deal he had negotiated for them.

Forty percent of FoxTao’s staff were recent graduates or experienced hires from outside, and they were quite happy with the news.

After all, given their academic credentials, passing Ali’s competitive interviews was a long shot—a one-in-a-hundred chance at best.

The chance to get into the e-commerce giant Ali Baba through this indirect route had them raising both hands in approval.

College seniors made up another 20%. They perked up when Chen Yansen added that regular team members joining Ali would start with a monthly salary of 16,000.

Although they would lose the 20% monthly housing subsidy and their four quarterly bonuses would be replaced by a single year-end bonus, faced with the much higher base salary, most still wanted to join Ali.

The remaining 40%, primarily customer service staff and editors, were considered highly replaceable. Ali was only willing to accept the editing team.

However, most of these employees were sophomores and juniors in college, so they couldn’t give up their studies for a job.

"Brother Sen, can I transfer to Orange Technology? I just want to stick with you," Xiang Pengfei stepped forward and said, his expression earnest and his tone sincere.

"Do you have any idea what Ali’s P7 grade means? A monthly salary starting at 30,000. Factor in the stock options, and you’re looking at an annual income of nearly a million," Chen Yansen said with a slow smile.

"Thirty thousand a month?"

"A million a year!"

"Ali’s really being generous, giving a team lead that kind of package!"

His words caused an immediate stir, and the crowd erupted in a flurry of hushed discussions.

When Xiang Pengfei first joined, his monthly salary was 4,000 yuan. After three raises, it had gone up to 9,600. Even adding the 20% monthly housing subsidy, his pre-tax income was less than 12,000.

And now it was jumping to 30,000!

In that moment, Xiang Pengfei hesitated.

In 2011, a monthly salary of 30,000 was an incredibly respectable income—the kind that would make any parent proud.

Chen Yansen remembered an "auntie" from his neighborhood whose son had joined Ali after graduation. She boasted to everyone she met that her son worked for a major tech company.

"Brother Sen, what about the commissions for us in Investment Attraction?" Zhang Yifeng asked.

"The commission structure won’t change. The base salaries for the Investment Attraction team and its leads will be adjusted, with raises between 2,000 and 5,000 yuan depending on Q2 and Q3 performance," Chen Yansen replied without hesitation.

Ali knew which of FoxTao’s departments were core to its success. The Investment Attraction team’s performance was strong, so there was no need to make unnecessary changes that might demotivate the business staff.

Hearing this, the forty-odd members of the Investment Attraction team felt instantly relieved, and smiles crept onto their faces.

"Any other questions?"

Chen Yansen asked again when no one spoke.

"Brother Sen, will Ali honor the stock option agreements we signed?" Xu Dan asked, raising her hand with some embarrassment.

After all, Chen Yansen had already arranged such a good path forward for everyone. For her to bring up stock options now felt a bit mercenary.

"I’ve confirmed this point with Ali. For our colleagues on the customer service and editing teams, your options will be calculated as 25% vested, based on a 20 billion valuation."

"For those who join Ali, your options will continue to vest at 25% every six months. If you leave after one year at Ali, you can take 75% of your options with you, to be valued based on New FoxTao’s valuation at that time. Ali will also initiate a buyback process."

As Chen Yansen finished his explanation, many faces in the crowd lit up with delight.

The customer service team in particular understood. Even though Ali wouldn’t be hiring them, the 25% of their options that had vested—at least 1,250 shares—were worth 50,000 yuan, based on the 20 billion valuation.

That was equivalent to a full year’s salary. Combined with the N+2 severance, they would walk away with over 60,000 yuan.

For college sophomores and juniors, this was an undeniable windfall.

Meanwhile, the vested options held by employees like Zhang Wenbo, Xiang Pengfei, and Zhuang Rui were worth as much as a million yuan.

Even if they didn’t join Ali, they could walk away with over a million yuan from their options and severance package.

"That’s all I have to say. You’re dismissed," Chen Yansen said with a casual wave of his hand.

’In his view, getting into Ali this way was the best possible outcome for them.’

’It’s only 2011. If they work hard at Ali for a few years and ride the wave of its future IPO, every single one of them could become a millionaire, or even a deca-millionaire.’

When Chen Yansen finished, however, the crowd remained standing in place, not moving to leave.

A moment ago, they’d been upset, feeling that Chen Yansen had sold out both them and the company. But now, hearing what a great price they’d been sold for, they were ecstatic.

A monthly salary of 16,000 plus a year-end bonus—among Xuyuan graduates, that was absolutely top-tier income.

"Sister Dan, I’ll send you my resignation shortly. Please approve it as soon as you can," Wang Zihao said with a casual grin. 𝘧𝑟𝑒𝑒𝘸𝘦𝘣𝑛𝑜𝘷𝑒𝓁.𝘤𝘰𝓂

He was one of Chen Yansen’s closest friends and was naturally going to follow him. Not even Ali’s million-yuan annual salary could make him waver.

"Okay." Xu Dan froze for a second, taking a long moment to reply.

"Bro... Boss, I’ll go with you." Song Yuncheng opened her mouth. For some reason, she just couldn’t bring herself to say the words "Brother Sen," but her gaze was resolute.

Of all the team leads, only Wang Zihao and Song Yuncheng had stepped forward.

The others were all caught in a state of hesitation and indecision.

Chen Yansen just smiled, saying nothing.

’This was exactly why he never mixed business with sentiment. It was better to just talk money; there was no need for guilt trips.’

He did, in fact, have other projects in mind besides the Orange Mobile Phone, but he hadn’t revealed a single word about them.

Others wanted to step forward and show the same loyalty as Wang Zihao, but the thought of giving up a 30,000-a-month job—something they could never explain to their parents—kept them rooted to the spot.

"Class President, does Orange Technology need anyone in administration?" Xu Xingxing asked, stepping forward with a grin after a moment of silence.

"Report to the Science and Technology Park tomorrow," Chen Yansen replied with a smiling nod.

"Brother Sen, I want to go to Orange Technology, too," Du Yaoyao, the editing team lead, said earnestly as she squeezed out of the crowd, as if on some strange impulse.

"You’re a recent graduate. Ali is offering you a P6+ package, which is a pre-tax income of 600,000 a year. Go home and think it over carefully before you decide," Chen Yansen said, shaking his head.

Xu Xingxing furrowed her pretty eyebrows, feeling a little displeased. ’What’s that supposed to mean? Does he think I’m only coming because I have nowhere else to go?’

Du Yaoyao hadn’t expected Chen Yansen to turn her down, but his words had a sobering effect. She nodded and stepped back into the crowd.

"It’s getting late. Everyone should go get some dinner. Life is a journey of many stages. I wish you all the brightest of futures."

Chen Yansen waved, not even glancing into his old office, Room 206, before turning and heading downstairs.

The era of FoxTao under his leadership had come to an end. Henceforth, FoxTao would be just another division of Ali.