Going Into the World!

“John Kim, come this way. ”

Following the escort staff is also a large enterprise, so the president's room or secretary's office is also huge.

‘I envy this, but it's definitely crowded, so it's good to catch up. ’

Although America has less than 30 years of history online, it has grown significantly since the beginning of its development. The building is delightful, but everything is luxuriously decorated on the way down from the elevator.

“Hello, I'm Robert Bob Pittman. ”

Mr. Pittman is a typical American with a bright intelligent face and a refined feel. I found out that I also did radio announcements and later produced movies and music videos, and I founded the famous MTV.

Before coming online to America, he grew up in a place called 21st-century real estate and earned the nickname of a marketing talent.

"Marketing? Cook! My rival? ’

I was also interested in marketing. He is especially good at brand marketing and has the materials to inform and grow the company.

“Yes, this is John Kim. Nice to meet you.”

I feel confident about the feeling from my hands as I shake hands. Certainly people who have walked the path to success, something different.

“I can see it in person. You're young, and you've had a lot of success. I envy you.”

“Haha. I'm ashamed of what Mr. Pittman said. The story of you founding MTV and raising it so quickly is almost legendary. ”

We don't have to blush our faces while doing business with each other. We had a loving conversation.

“We've already negotiated a few sessions with the practitioners, so let's simplify today. ”

“Of course. That's why I'm here. Mr. Pittman has the authority to make that decision here, right? ”

No matter what he did as a private company, Mr. Pittman wondered if I should take permission from the board or chairman, Steve Case.

"No. I've been authorized to do the same. as long as you don't offer ridiculous conditions. ”

I don't want to drag you down unless you hit me with a ridiculous price. I'm worried because there's too much money to go into these days. In addition to recent acquisitions, the last month alone sent over $500 million to South Korea, among other things.

Internet businesses, such as Google, are constantly expanding employees and servers, so their money gets sucked up like water in the sand.

“Chairman Kim, last time you said at least 500 million dollars, what exactly was 500 million dollars? ”

“That's when you share and co-market your membership. I can give you priority for about five years. ”

“Five years? Haha. Isn't this too salty? ”

He's already done the math and wants to hit the price.

“Khh-hmm. You know, Mr. Pittman, there's been some disagreement, and we've agreed to renegotiate. I don't think we need to talk about it now. If you're being honest, I'd be more than willing to negotiate. ”

I think Mr. Pittman's eyes sparkled.

“Haha. This isn't easy to come by. Okay, then I'll make you a different offer. ”

“A different proposition? ”

You know what I think? It seems to say. "Suddenly I was curious.

“$500 million in partnership. I don't think that's a good idea. Ambiguous.”

“Kmm. As I said before, if you use it properly, you'll get your money back in a year. And since then, it's all yours. If you're as talented as Mr. Pittman, I think there's an endless amount of utilization. Isn't that right?”

“I really can't take this. However, my proposition is not just an affiliation, but an equity acquisition. I heard Yahoo has a stake in this, too, right? ”

“Equity acquisition?! ”

Phew! This is an unexpected offer. I just thought I'd raise it a little bit more. Another drink.

“Yes, we'll take 49 percent. ”

“Yes?! 49%? Huh! This is a sudden offer. ”

Slightly confused because it's not what I expected I rolled my head quickly and looked at the understanding room.

“What we need is your customer data and ongoing co-marketing. I don't want to be a one-time affiliate, I want to be able to organically connect you and America online.

I find it hard to anticipate these synergies with simple collaboration. Maybe we should develop a program internally. ”

Mr. Pittman points out the problems of the partnership as a return to marketing. A simple calculation of 10 percent of subscribers can benefit from developing services on the basis of $240 million, but that's just a game of numbers.

Depending on how you do it, it may be 1% or 20-30%.

To increase absorption rates, of course, we have to actively cooperate on the other side, and we're worried about that. You're right. There are many times when these simple calculations are wrong.

“Do we still need to do that? After all, you've decided to show our clients' information and other ads first. ”

I think it's Classmate.com. It doesn't matter that there are limits to growth, but Myway was different. It spread quite widely from the young to the 30s, and I was reluctant to share my shares in the future because there was enough room for growth.

“You said earlier that you are the legendary character of my rapidly growing MTV, and I did the same in 21st-century real estate. Engaging people is not so simple.

It takes too much time with just one piece of customer material and one piece of advertising. It's like walking into a battlefield with a rifle? ”

It is similar to Yahoo, but offers to acquire shares for a different reason. If Yahoo reports on the excellence of Google's search technology, stable technology partnerships, and future growth, then America online wants to drive active cooperation and co-development of programs.

‘I must say, Myway's events and services are popular. Plus, the recent openings have really been a big hit. ’

Late last year's renovated services are becoming really popular.

There are many different search sites, but the quality of the service varies greatly from the quality of the service on Myway or Classmate.com, just as there are many different services on Google.

For example, let's say your friends decide to meet. Other sites are just exchanging opinions in forums. However, the services we provide are on a different level. I think it's time to make an appointment by exchanging opinions.

Once you have set up the event, you can send an email within the event, if you have a reservation at the meeting location, or if you need to make a reservation by email.

Moreover, the location or address of a place is a truly organically connected service that can be searched and linked.

Here is another drink so that everyone can choose to ‘attend or not attend’ so that they don't have to check with attendees who don't have a good time.

How is this possible? With Google, of course, it's a powerful search, and I've developed a reservation system in Expedia, with relevant skills and experience. Of course, these integration services are still untouched elsewhere.

Oh, I'll follow you, of course, but if it were easy, everyone would be Google and Microsoft. Technology and experience are not achieved overnight.

Built to reinforce existing capabilities, this OneStop service was highly acclaimed and completely reversed the slowing subscriber growth trend.

“It's not just five to 10 percent, it's 49 percent. But I understand your intentions. Let's volunteer together to have a synergistic effect on ownership, you know? ”

“Haha. That's right. I want you to use your skills and customer base for us. Specifically, we would like John Kim to help us get naked. If you look at my résumé, you've created these companies very quickly.

The various services that we developed in the process were quite fresh and effective. I need that part of you. ”

"Hmm. I appreciate the offer, but I don't think it's a good idea for Maiway to share..."

There are too many holes in the fund to enter the Daewoo affiliate, film or other sectors right now. Moreover, I was tempted because of the recent acquisition of the film company and especially Daewoo affiliates and the lack of operating funds.

“If you acquired shares, would you pay them in full in cash? ”

“We'll give you some cash and some of our shares. You know we're merging with Time Warner, right? You will receive it as shares in a merged company. ”

I look at him and he looks at me. Like, sparks in his eyes? An unparalleled opponent.

I think of all the arrogance in my head.

How much do I owe you? The offer is good. Hmm. 'There's nothing wrong with working with an American Online Time Warner, but it's not an easy decision.

Incorporating Time Warners has tremendous influence on the media as well, as on American online. King Wang is one step ahead of Murdock's trembling media company, which also has various chattels in film and video companies. If Murdock's company grew up in the newspapers, the Times Warner would be at least two places on the air and in the movies.

'If I connect this to this, it will help me in my business.' Knowing the importance of the media, I was interested in a new route.

“Very well, I'll make you an offer. You pay five billion dollars for 25 percent. So let's take this seriously. ”

It has already been reported in the newspaper that the company to be merged is worth more than $36 billion, and that online America has established an American Time Warner in a format that gives and buys $16 billion to Time Warner.

Five billion dollars in a $36 billion company, I'd say, sucks in a bird's eye. If you don't like it, I have the courage to believe that I will grow up to be more confident in just a few years.

“Wow! You're really strong from the beginning. Haha.” Experienced Mr. Pittman smiles with exaggerated posture.

“I mean it, as you may know, with the new services we're developing these days, the number of new subscribers is exploding again. I think it's going to be over 20 million in six months. It won't take us more than 30 million. ”

That's what I really think. Ah, assuming everything goes as I expected.

“You're very confident. I know you're not wrong. I did all that research, and that's why I'm sitting here staring at you. ”

It's easy for Mr. Pittman to say because he admits this neatly.

“This is domestic. If you expand your service overseas, 100 million people are not bluffing. 100 million horses. How many companies have that kind of capability?

Five billion dollars is really cheap. Whew. Speaking of which, I think I called too low. ”

If you really think about the world, 25 percent and 5 billion dollars is too cheap! Isn't it?

I negotiated a push and pull, but I didn't back down, because even if I was splitting money, I wouldn't be able to take it out of my investment and surround myself with it.

Of course, if you lend money to the company as collateral, you can attract a lot of money, but that's never going to happen.

We made a decision in small succession, with $3 billion in cash to acquire shares in the new company. I also included a vague provision that I was actively involved in developing new services.

Even though I was happy when I finished all I had to do, I still feel sad because I thought I would break up Myway and Classmate.com like my child.

When I came back to the office and looked at my businesses, a lot has really happened over the last few months. I was curious about the current state of the asset and asked Mr Clarkson for new data.

$3.4 billion in investments in Johnstone (borrowed $1 billion, private equity $2.4 billion)

MyWay/Classmate.com - $20 Billion (Estimated Value, Sell 25% Online for $5 Billion)

$500 Million Polygram Film

Expedia – 10% ownership of shares, $1.7 billion

Google – My share is 45%, $180 billion

(Estimated value of $40 billion compared to price bought at $1.5 billion in Yahoo + subsequent rise in value).

Johnstone Securities (formerly considered securities) $1 billion (buildings and net operating assets)

Johnstone Construction, Johnstone Telecom and Johnstone Development (including Hilton Hotels) – currently five trillion parent corporations, including treatment, minus some of Yahoo's funds and investment funds. Currently, the development of Johnstone Co., Ltd. has turned into a parent company.

“Khhh! There's a lot more going on in between. By the way, businesses in Korea don't know their assets that well... Isn't this the hippo that eats money? I need some organizing, but it's not that easy. ”

In fact, I raised almost $3.5 billion in investments in Johnstone. However, after spending $500 million on the polygram acquisition and $36 billion on the normalization of Daewoo subsidiaries to date, he had to sell $750 million in Yahoo, 10% of Expedia stock, and scrape together $1.7 billion.

Now I think I'll be able to afford to operate for 3 billion dollars.

Artwork Reviews

Mr. Pittman founded the famous MTV. The radius of behavior is getting wider. Time Warner is a company that is particularly unique in broadcasting.

I was thinking of scheduling for midnight, and I'd like to encourage my readers to have a great weekend.