My Age of Investment

  Chapter 365 Bargaining Chips (seeking monthly pass)

  A clever man, Jack Ma, he immediately understood the hidden meaning of Xia Jing’s jargon.

  Water overflows when it is full, and wine overflows when it is full. It is often used as a metaphor for things that develop to extremes and change in the opposite direction.

  This refers to Yahoo's acquisition of too much equity in Ari, will it be the main goal?

   Cai Congxin smiled and said: "Dalun, do you know what it means for Yahoo to become a shareholder in Ari?"

   Before Xia Jingxing could answer, Cai Congxin asked and replied: “It means 1 billion US dollars in cash, plus one Yahoo China.

  Ari’s B2B business has been developed for several years, has matured, and is fully profitable.

  But Taobao is still short of fire!

  Our current C2C market share has completely surpassed eBay and Excellence.

  But these competitors did not really give up. Once they recover, the moat built for free is not impossible to fill.

  This is also our motivation for the D round of financing!

  Ali needs money, a large sum of money, so as to allow Ali to maintain ample cash flow and not be afraid of price wars from competitors;

  It is necessary to use such an ultra-large-scale financing to deter competitors who want to enter or have entered into e-commerce.

  We also want to make Taobao profitable as soon as possible, but it's not working right now. This tough battle has to be fought.

  While fighting, if you kill a thousand enemies, you will lose eight hundred yourself.

  The best strategy is to defeat others without fighting!

  Yahoo, as the top technology giant in Silicon Valley, his shareholding has brought us not only the role of money, but also brand endorsement and strong deterrence, helping Ari to establish industry status.

  In addition, Yahoo China has a mature advertising and search technology team.

  They merged with Ari, which can bring us many benefits, such as creating Taobao product search, exploring the profit model of e-commerce advertising, optimizing the user’s shopping experience, restricting cheating and so on. "

  Tsai Congxin smiled, “As for what you said, “the wine overflows when you are full”, you don’t actually need to worry too much. Yahoo made concessions on voting rights.

  They took 40% of the shares and became Ari’s largest shareholder, but agreed to delegate the voting rights corresponding to part of the stock to the management team to exercise it on their behalf.

  In addition, they also agreed to sign a guarantee agreement. "

  Cai Congxin pointed to Ma Yun and continued: "The agreement guarantees that the CEO of Alibaba Group Ma Yun will not be fired.

  At the same time, the board of directors also made concessions, with SoftBank one seat, Yahoo one seat, and our management team two seats. "

  Cai Congxin spread his hands, "So, the extreme situation you mentioned, Darren, is unlikely to happen."

  Jack Ma sipped the red wine aside, and was very satisfied with Cai Congxin's response.

   Just now Xia Jingxing poured red wine, and they were at a loss, and their momentum was completely suppressed.

  Especially myself, behaved worse, and ran to look for tissues in a panic.

  He felt that the boy in front of him was too bad. He was a very young man, but old-fashioned.

  Xia Jingxing kept silent, so he listened to Cai Congxin.

  While listening, he was still thinking silently in his heart.

  After the other party finished speaking, he slowly answered: "There is a time limit for delegated voting rights, director seats, non-dismissal of the CEO, etc., right?"

  Xia Jingxing tilted her head and looked at Cai Congxin, and asked calmly: "Three years or five years?"

  Cai Congxin doesn’t know how the other party is so familiar with the rules of capital operation, isn’t he just 21 years old? The university is not full.

  It's really hard to fool!

  Although his heart is bitter, Cai Congxin still pretends to be extremely calm, "If there is a time limit, I will not hide this from you, but I believe that Ari should have been listed at that time, which has completely consolidated the leading position of China's e-commerce.

  In the face of huge interests, Yahoo can't fight with us. Making money is the most important thing. "

  Xia Jingxing shook his head lightly, "You are all hypothetical, but what I saw is that Ari's control is unstable.

  Once the situation changes, the ruthlessness of capital will be reflected. "

  Cai Congxin is not to be outdone: "Isn't Vision Capital also capital?"

  Xia Jingxing shook his head again, "Envision Capital does not do actual Internet business. As I said earlier, we and Yahoo have two different operating models.

  Yahoo has the technology and operations, and the Internet company has some, and they all have it. After taking over Ari, they have a good time.

  We can’t do it, we don’t have that qualification, and we don’t want to ruin our reputation. "

  Cai Congxin knows that the other party is telling the truth. Compared with Yahoo, Envision Capital is definitely more harmless to humans and animals.

  But he will not let go so easily, he must strive for the best interests and optimal conditions.

  "What about Yahoo China? It is impossible for Vision Capital to turn us into a search company out of thin air?" Cai Congxin continued to ask.

  Xia Jingxing waved his hand, “Don’t mention Yahoo China, it’s not worth 700 million dollars at all.

  Yahoo can’t be a search engine, but it’s a good hand to play bundled sales! "

  Cai Congxin's face was not red, and his heart was not beating, and said: "Dalun, what you said is quite biased."

  Xia Jingxing feels that Cai Congxin’s psychological quality is really good, and he has picked up this point in his own words, and he is still dying.

  "Yahoo China was established in 1999, but its development has been tepid.

  Although it is a company founded by Chinese descent, just like sea turtles, it needs freshwater farming to adapt to the local environment.

  This kind of disobedience can be seen from their acquisition of 3721 the year before.

   3721, which was purchased for 120 million US dollars, how much did it help them?

  They stayed in Zhou Hongyi, but did not give them real power.

   Zhou Hongyi feels that the original Yahoo team is overpaid and lazy, but the Yahoo team feels bullied and believes that Zhou Hongyi’s energy is not in Yahoo’s business...

  The reason behind this is that the management difficulties of the localization of multinational companies, the cultural incompatibility, and the lack of respect for local talents. "

  Speaking of this, Xia Jingxing did not show any affection at all, and continued to complain:

  "If you look closely, Yahoo is actually going downhill. Search can't beat Google, social networking can't beat Facebook, and it will be bullied by Baidu in China.

   Soon Google will enter China too!

  Buying such a company for 700 million US dollars, everyone has a scale in their hearts and will make their own evaluations. "

  Xia Jingxing glanced at Jack Ma, who had been silent, and asked: "Jack, do you think it's worth it?"

  Ma Yun smiled, “I think it’s worth it. With Yahoo, Ari can directly extend his business tentacles to more places, avoiding us from starting from scratch, which can save a lot of time.”

  Cai Congxin also helped out: "Yes, the lean camel is bigger than the horse. Although Yahoo is a bit sluggish, it's not as unbearable as Darren you said."

  Xia Jingxing smiled. He believes that the two of them actually agree with their opinions in their hearts, but they want to use Yahoo as a bargaining chip to ask for better conditions from themselves.

  If they all admit that Yahoo is not working, and Yahoo’s conditions are not good enough, then what else to talk about.

  Of course, there is no need for their lip service. Hearing these words into their hearts will achieve the goal.

  "Yahoo thinks that only they can get one billion dollars in the world, so they forced Ari to buy Yahoo China for 700 million dollars.

  In this way, Yahoo not only got rid of a mess that was about to collapse, but also recovered 700 million US dollars from the financial report.

  Recently, the stock price that has fallen due to continuously discarding advertising market share has been stable for another half a year. "

  Xia Jingxing carefully picked up the full red wine.

  The eyes of the two of them all turned to the glass of wine, not knowing what tricks this one is going to play.

  Xia Jingxing couldn't make it through this glass of red wine tonight, and said with a smile: "I'm really afraid that it will ooze out, it's too full!

  Hey, I almost forgot SoftBank. What's their opinion?

  I heard that they are contacting eaby and are going to sell their shares in Taobao? "

  (End of this chapter)