Tycoon: I Have an Unlimited Modifier novel Chapter 464

Chapter 464: Chapter 250: Super Unicorn

Following official announcements from Sequoia, Black Ant, and Jinshi Capital.

Spicy King officially completed its one-billion-dollar Series B financing round, reaching a valuation of ten billion US dollars.

The entire investment world was rocked by the bombshell news.

Many venture capital firms had previously offered valuations of six or even seven billion US dollars.

But a valuation of ten billion US dollars still left them in shock.

That was the threshold for a "decacorn"—a super-unicorn enterprise!

Any company that reached such a valuation was invariably a leader in its field.

Or even the undisputed industry titan.

But for Spicy King to get that valuation in just its Series B round...

Wasn’t that a bit of an exaggeration?

Such doubts lasted for less than three days.

Then Yuan Li publicly revealed the revenue figures for Spicy King’s 45 stores nationwide.

The many hesitant venture capitalists were instantly kicking themselves with regret.

Spicy King’s average monthly revenue per store reached 18 million yuan, with a net monthly profit of up to 3.6 million yuan.

A ten-billion-dollar valuation really wasn’t that high after all.

By the time they contacted Yuan Li again, Spicy King had already closed the funding round.

The next time they opened for funding, the valuation would surely be several times higher.

Yuan Li was on cloud nine these days.

The due diligence from Black Ant and Sequoia still required some time.

As for Jinshi Capital, it was just a simple formality.

The funds were quickly wired to Spicy King’s account.

With this 400 million US dollars—equivalent to 2.7 billion RMB—in hand...

The new headquarters and branch expansion could finally be put on the schedule.

Yuan Li planned to allocate 700 million yuan to purchase a headquarters building.

The remaining 2 billion would all be used to expand the number of branches.

As for the branch renovation costs, with the increased number of orders, five million yuan per store would be enough to get it done.

Kitchen equipment and security deposits would likewise not exceed five million yuan.

With Spicy King’s incredible popularity, they could easily negotiate with the malls.

They could arrange to start paying rent only after the restaurant opened for business.

This would maximize their financial leverage.

After squeezing costs to the absolute limit, Spicy King’s investment budget per store was only 10 million yuan.

’Opening 200 stores at once? That’s not excessive, is it?’

Two billion yuan was nothing.

Even if they ran short on funds now, another 600 million US dollars from Black Ant and Sequoia was on the way.

Yuan Li was finally experiencing the joy of having money.

As the sole designated partner, Shengxuan Decoration was feeling both overjoyed and overwhelmed.

Renovating so many stores meant the fees alone would reach a billion yuan.

Many local design firms were green with envy over Shengxuan Decoration’s contract.

But what could they do? Both companies had the same boss.

All they could do was look on with envy.

This time, Spicy King was extremely generous, directly transferring 500 million yuan as a down payment for the 200 store renovations.

Once the sites were selected, Shengxuan Decoration would dispatch designers to follow up.

When Qi Sheng returned to Chengdu, he used the system to supply Shengxuan Decoration with more staff.

This single order was more than enough to make Shengxuan Decoration fantastically profitable.

The net profit would be at least 100 million yuan.

And that was a conservative estimate, assuming they maintained high quality.

Qi Sheng used the 100-million-yuan figure for his calculations.

He then assigned another 100 Ordinary Level designers to Shengxuan Decoration.

The design templates were all ready-made.

Even Ordinary Level designers wouldn’t run into any major issues.

With Elite Level designers serving as team leads, they were more than capable of completing the renovation tasks for Spicy King’s stores.

The site selection for the new stores wasn’t urgent, however.

Securing a headquarters building, on the other hand, was an immediate priority.

Spicy King was expanding at a truly astonishing rate.

Yuan Li was planning to establish several subsidiaries to create a presence across the entire restaurant industry supply chain.

When that happened, office space would undoubtedly be in extremely high demand.

Before, when they had no money, Yuan Li could only put up with it.

’But now we have money. We have to buy a headquarters building!’

Any other company doing this would surely upset its investors.

But Spicy King was different. A company that raked in cash daily had the confidence to back it up.

Besides, Qi Sheng held the controlling stake.

As long as he gave the nod, not even Sequoia or Black Ant would dare to object.

...

Led by Zhou Huaiping, Yuan Li toured the office buildings currently for sale on the market.

The 700 million yuan she had was only enough to buy something on the outskirts.

A high-quality office building in a good location started at one billion yuan, at least.

Yuan Li had no choice but to call in Qi Sheng and have the big boss make the final decision.

"Huashang Financial Center?"

Qi Sheng was familiar with the place. He had eaten there a few times before.

Located in the heart of Chengdu Financial City, its accessibility was undeniable.

Its interior was also among the most luxurious in Chengdu.

Anyway, his girlfriends loved coming here to shop and eat.

Xinrong Ji and all sorts of high-end Japanese restaurants were everywhere.

"Boss, the T2 tower on the right has been sold as a package deal. The one we can buy is the T1 tower on the left."

"Overseas Phoenix Group plans to sell it off floor by floor, with each floor priced at 45 million yuan."

"According to the budget we discussed earlier, we can buy 15 floors at once."

Yuan Li pointed to the office building on the left, rattling on about the advantages of its location and work environment.

"This office building only has 38 floors in total. Take away the five-story commercial podium at the bottom..."

"...and there are only 33 floors of actual office space."

"Are you sure you can buy 15 consecutive floors?"

Qi Sheng frowned, slightly dissatisfied.

"Probably not consecutive floors, but buying them scattered throughout the building would definitely be possible."

Yuan Li also wished they could just buy the entire building next door. Now that would be impressive.

But with their budget, it was just a fantasy.

"If we’re going to buy a headquarters building, what’s a few hundred million more?"

"Let’s allocate 1.5 billion yuan and buy T2."

"For the subsequent branch expansion, the 600 million US dollars from Black Ant and Sequoia will be more than enough."

Qi Sheng made the decision on the spot, doubling the budget for the building.

"Whatever you say, Boss!"

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