After eating eBay, Hotmail and Blizzard games one after another, it stands to reason that in order to avoid indigestion, it is time for the "snake" of the Pioneer Fund to stop attacking and rest!

However, no, the Pioneer Fund continued its own pace of attack as if it were a tireless perpetual motion machine......

Adobe, nicknamed Odobi, this name may be unfamiliar to many people, but when it comes to one thing, you must be familiar with it - PS!

Yes, the famous PS is one of Adobe's most well-known products, but this is just the tip of the iceberg for Adobe. You know, Adobe's products cover almost the entire range of image graphics processing and typesetting, which can be said to be the super boss in this area.

Therefore, the Pioneer Fund took a fancy to him at first sight, but unlike Amazon, eBay, Hotmail and other newly founded Internet companies, Adobe is an "old fritter"! You know, in 1986, Adobe has been listed on the NASDAQ for the first time, and now the market value has reached $1.5 billion!

Therefore, this time the Pioneer Fund's attack on Adobe cannot be regarded as a venture investment, but should be regarded as a financial acquisition war.

$1.5 billion, which does seem to be a bit high at this time, after all, the current market value of Apple is less than $3 billion, of course, there are reasons for Apple's "decline". However, for a software company like Adobe, $1.5 billion is really not low. However, no one would have thought that the $1.5 billion, which seems like a lot now, is really not even a fraction of enough for Adobe in the future.

Hehe, it is estimated that no one would have thought that Adobe's market value would be as high as 100 billion dollars in the future!

For such a high-growth company, Su Chenyu would be so sorry if he didn't let the Pioneer Fund take it down, this is all bright and green dollars. Therefore, this acquisition will not be different from the previous venture capital, and the Pioneer Fund itself is no longer enough to play this matter, so it is time to pull the big brothers out to cheer them on. Besides, since it has been determined that Adobe can have nearly a hundred times the income, it is natural to spend money on it in his own hands at all costs.

As a result, at the same time that the Pioneer Fund officially launched an acquisition offer to Adobe, Tianchen Fund, Goldman Sachs, and Lehman Brothers began to enter the secondary market to sweep goods.

You must know that with the strength of the Tianchen Fund, Goldman Sachs, and Lehman Brothers, it is not too easy to sweep up the stocks of a small company like Adobe on the NASDAQ! Therefore, it does not take much effort at all, and the shares acquired by the Tianchen Fund, Goldman Sachs, and Lehman Brothers have reached 13 percent, which is already quite a considerable share. The most important thing is that each of them does not hold more than 5% of the shares, which perfectly circumvents the SEC's 5% rule.

That way, the rest will be much easier!

After receiving the acquisition offer from the Pioneer Fund, Adobe was really confused - what the hell is this? Why did it suddenly come out halfway?

However, before the stunned Adobe could react, the Pioneer Fund officially announced that it had held 15% of Adobe's shares and officially became one of Adobe's major shareholders.

Yes, the Pioneer Fund has become a majority shareholder in Adobe, because not long ago, the Pioneer Fund entered into a share transfer agreement with its big brothers, formally acquiring a 13% stake in them.

Suddenly, the "barbarian" of the Pioneer Fund rushed straight into the house, and became the "master" in a grand manner - which is very embarrassing!

In this way, for the "Barbarian" Pioneer Fund, Adobe does not welcome or reject it. After all, the shares held by the Pioneer Fund are not low, and, in addition, there is a consortium behind others, which is the real "capital father"!

So, just after acquiring a 15% stake in Adobe, the Pioneer Fund once again directly proposed the previous acquisition conditions to Adobe - Adobe valued it at $2 billion and bought the remaining 85% of the shares at a sky-high price of $1.7 billion.

I have to say that this condition of the Pioneer Fund is really quite tempting, and it has given Adobe a premium of more than 30% at once!

Let me ask you, how can there be such a good thing under normal circumstances? I will give you an acquisition at a premium of more than 30 percent! What's more, don't look at the current tide of the Internet industry, but those are all pigs on the tuyere! However, Adobe does not have that qualification, and has the treatment of being a pig on the tuyere.

Therefore, as soon as the conditions for the acquisition of the Pioneer Fund were announced, many people in Adobe were directly itched to defect.

However, some people are not very willing to defect, after all, after losing their shares, it is not certain who says who will say about this company. The most important thing is that after being acquired, and after being wholly acquired, Adobe is still the same Adobe that it used to be? Who knows what kind of bad taste this kind of "capital father" who takes money and does not make money, and whether Adobe will be directly abolished!

So, John Warnock can be said to be quite resistant!

Well, this John Warnock is none other than the founder of Adobe and one of the major shareholders of Adobe. Imbi, if the Pioneer Fund wants to take down Adobe completely, then John Warnock has to do it.

Fortunately, this John Warnock is not a mallet, and some things can still be said clearly, after all, the real interests are in front of him.

What's more, the Pioneer Fund has also made its own commitment - absolutely not to interfere in all the management operations of Adobe, and fully respect all the decisions of the company's management.

Not only that, but the Pioneer Fund also promised to give dividends to the company's top management, including John Warnock.

Well, I have to say that in order to win Adobe, the Pioneer Fund has also made a huge concession. There's no way, who made this investment in Adobe not as good as Amazon's "big pervert", but how to say that it is also dozens of times the return on investment!

With such a huge concession from the Pioneer Fund, Adobe's shareholders, including John Warnock, finally agreed to the Pioneer Fund's offer. For example, in this era when capital is king, it is not too normal for one or two people to be hung up because of the green dollar bills!

What's more, this is a big business of 100 billion dollars, not to mention these people, even if they are governors or presidents, they have to obediently give way - in the face of huge interests, no one can do anything.

Besides, Su Chenyu has never been a good stubble!

Fortunately, in the end, it ended in a happy situation, and it would not be beautiful if it ended in tragedy.

Soon, the Pioneer Fund signed an equity purchase agreement with Adobe's shareholders, thus swallowing the remaining 85% of the shares. At this point, Adobe was wholly owned by the Pioneer Fund and officially delisted from the NASDAQ.

When the news of the Pioneer Fund's wholly-owned acquisition of Adobe at a sky-high price of $2 billion spread, the entire hot Internet industry seemed to have been added to the fire and rose again. At this point, it is no exaggeration to say that the entire Internet industry has entered the stage of crazy foolishness in advance, depending on who is the last relay.

Now, as long as it is a company that is involved in the Internet industry, it can get a large amount of investment from the "capital dads".

However, no one knew that just as the fire was heating up again, the Pioneer Fund and his big brother had begun to slowly withdraw from the Internet industry.

Well, in fact, it is not very accurate to say "withdraw", it should be said that it is a step back, yes, it should be regarded as a step back. After all, the Internet industry is the general trend of the next era, and Su Chenyu is not a bad pen, so how can he withdraw from the tide of the Internet. However, the current Internet tide is a bit too hot, and some of the hot ones have changed their taste.

The most important thing is that those high-growth and potential companies have already been pulled out by Su Chenyu. The most famous Amazon, eBay, Adobe, Yahoo, etc., are now his soldiers, so what else does he have to say?

Next, the Pioneer Fund just needs to quietly wait for the arrival of Google, the real leader of the Internet industry.

And, not only that, but Ginkgo Fund began to transfer its shares in Internet industry companies to Pioneer Fund on a large scale - they want to gradually exit the Internet industry. The Pioneer Fund will take over the Ginkgo Fund as Su Chenyu's sword in the Internet industry, and continue to attack madly towards this crazy Internet era......

As for the Ginkgo Fund, Su Chenyu has already arranged a way out for it, and they want to enter the ......