Having said that, during the period of entering the actual contact, CICC's offer was a little unacceptable. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 info They admit that they have given a conscientious offer, 5 billion yuan for 40 percent of the shares. But Zhou You didn't bother to respond to them at all, rejected their offer, let Demossa contact them, and went directly to Singapore.

Indeed, even with the 1.5 billion yuan loan allocated by CCB, Tmall's current own capital is only 2.5 billion. However, investing in a business and buying things are completely two different concepts, one is to look at the value of the goods, and the other is to look at the development of the enterprise.

Therefore, it is common to see some Internet companies, just throwing out a concept, there are people willing to pay for it. Mr. Li of Baidu did not pay a penny, but just said that if he wanted to make a search engine, there would be institutions willing to invest 1.2 million US dollars, as long as 20% of the shares.

In the high-tech industry, capital is very important, but it is not the most important. If you invest in a manufacturing company, you may calculate the shares according to the actual value, but when you invest in a new type of company, the main thing is to look at the development.

There are some things that Zhou You is embarrassed to say, but Demosa can say them with impunity. He directly criticized the actuary of the other party, and did not evaluate the actual value of Tmall according to the laws of the market at all.

Not to mention the technical barriers of Tencent, just traveling can allow 4,000 companies to provide goods for three months, and borrow money after three months, according to Tmall's expected annual sales of 100 billion yuan, and the payment for three months is 30 billion.

The 30 billion left in the account of Tmall can bring more than 1 billion interest every year, but according to the ten-year development period, the valuation of Tmall will increase by more than 10 billion.

Why is Temasek willing to spend US$1 billion to own only 20% of a company with total assets of only 1 billion yuan? Do they really not understand economics!

Demosa's words directly embarrassed the other party's negotiators, but he didn't care, he only cared about whether he had completed the tasks ordered by Zhou You, and he was only responsible for Zhou You.

After the initial setbacks, I even ignored them and went to Singapore to negotiate with Temasek, and at this time, CICC re-examined the matter and became more sincere.

The second time they offered a 30 percent stake of 5 billion yuan, which is not as good as Temasek's offer, but it is much more sincere.

However, this price is still below the psychological line of Zhou You, and it is not passed. But he told Demosa to continue the negotiations, and his side also accelerated the negotiations with Temasek.

Of course, there is a reason why CICC offers a lower price than Temasek. State-owned assets, after entering the company, can bring preferential conditions to the company in all aspects, and wherever you go, you will not run a red light, but only a green light all the way. So, it's almost impossible for them to make the same offer as Temasek, but Zhou You is only willing to give them a 20% stake at most.

In this company, Tencent's shares cannot be compressed, they provide Alipay services, provide technical support, if it were not for Tmall from the beginning of the advertisement of being an independent company, it is not much different from Tencent's subsidiary.

They must account for at least 30% of the shares in order to ensure their influence in the company and the balance of interests of Tencent. At least until the IPO, this 30 percent is immovable.

Then, only the shares of Zhou You and Liu Qidong can be compressed, Liu Qidong's personal assets are only tens of millions of yuan, Jingdong was placed in Tmall as a whole, and Zhou You also supported him more than 100 million, completing the initial share distribution.

Now his personal assets have soared dozens of times all of a sudden, so there is no problem with the compression of shares on his side, and even, he is a little embarrassed to pick up such a big bargain for himself at once.

No matter where he goes, one of the things he often says is that he is carried by Zhou You.

But to be honest, Zhou You didn't feel that he was at a loss, because now he is running the affairs of the company's formation. Since meeting Zhou You at the end of June, he hasn't slept a day at all in the past few months.

Every day, he is either busy signing contracts everywhere, or he is busy reviewing goods, and he also needs to run on the spot in the logistics bases set up all over the country.

It can be said that Zhou You moved his mouth, but he was about to break his leg.

And he has the ability to be a person, whether it is now or in the future, this company needs him to keep an eye on it all the time. Therefore, it is also appropriate to give Liu Qidong some benefits, not to mention, even if he does not travel, he still becomes a rich man with a net worth of tens of billions.

Of course, he doesn't know this yet, but he thinks he will be content if he can keep five percent of the company's shares. If he transfers 15% of his shares, it will be billions of wealth! In just a few months, he could become one of the wealthiest handfuls in the country, something he never dreamed of before.

Zhou You's direct shareholding is 50 percent, and the indirect shareholding through Teng Xun has also reached 12 percent, which means that he alone has 62 percent of the shares, of which 12 percent of Teng Xun will not change, and he is personally willing to take out a maximum of 30 percent of the shares to introduce investors.

Of course, this 30% will not be taken out at one time, because the company does not need to invest 10 billion at a time at present, even if there is so much money, it is only slowly invested and slowly consumed.

He also wants to use these shares to increase the value and bring in strategic investors when Tmall goes public.

In his heart, the best partners are Wal-Mart and Carrefour. Because one of these two companies is in the United States and the other is in Europe, it is a real giant, and if you don't give them any benefits, it will be a fantasy to enter the European and American markets.

Of course, this is all for the future, at least at this stage, he is willing to transfer no more than 40% of the shares, and the best outcome is that CICC and Temasek each hold 20% of the shares.

The negotiations with Temasek were simple, he had a close relationship with the young master, and his relationship with Ho Ching has always been friendly. Zhou You just talked openly and honestly with them about the development plan of the online mall, and promised to sign a VAM agreement with the other party, as long as the annual sales of Tmall Mall do not reach 30 billion US dollars within five years, Zhou You is willing to compensate 5% of the shares to Temasek free of charge, and the two sides have no disagreement and have determined the signing conditions.

Temasek took a US$1.2 billion stake in Tmall, but only 20 per cent. These 1.2 billion US dollars, according to the current exchange rate, is a full 10 billion yuan.

This news was reported by the Singapore side on its own initiative, which can be regarded as cheering for Zhou You, and their purpose has indeed been achieved, and once the news was broadcast, it immediately caused a strong response around the world.

A company that didn't exist three months ago, a company that has only invested less than one billion yuan at present, just because this company is a traveling company, in just three months, it has been valued by Temasek to $6 billion, which is equivalent to a valuation of 50 billion yuan.

The topic of whether Tmall is worth it has been hotly debated around the world, and Zhou Yi has become a global topic of conversation for a while.

Warren Buffett, the god of stocks, neither praised nor belittled Tmall when asked by reporters, but only said in a low-key manner that he needed to take another look. But at the same time, he expressed his optimism about Zhou You, thinking that if this plan was initiated by someone else, he would be very pessimistic, but he was very optimistic about Zhou You, because he had proven his ability to execute.

For the development of high-tech companies, it is easy to throw out a plan, a concept, but it is difficult to execute. In the United States, 30,000 new technology companies have been registered every year since '99, but most of them have closed down due to enforcement problems.

Unlike Warren Buffett's conservatism, Yibai's CEO Meg Whitman praised the creativity of Zhou You, believing that opening shopping malls online would trigger a new consumer revolution. If possible, Yibai is also willing to invest in Tmall at the same price, and is willing to cooperate with Tencent on the development of Alipay and PayPal.

At this time, Yibai has not yet launched online shopping mall services, they are still mainly engaged in thrift trading, and have just entered the e-commerce industry.

Zhou You is also well-known to Meg Whitman, and he called Brother Pony after seeing the news, but Brother Pony is not interested in the cooperation between Alipay and PayPal.

This is mainly because Alipay has just been established and has not yet occupied the domestic market, and it can even be said that the domestic market has not yet been cultivated. What's more, Alipay is cooperating with major domestic banks, and if the proportion of foreign capital is too high, it will also have a security impact.

Zhou You didn't insist, and at the same time, his heart for cooperation with Yi Bai also faded. Even if Tmall is now valued at $6 billion, it is not the actual value of Tmall, but Yibai has long been a listed company, and the two sides cannot hold shares in each other, and in general, Tmall suffers.

However, Zhou You still got a phone call from Meg Whitman to thank her, and agreed to meet the two of them in the United States next time.

Yibai's current business has no conflict with Tmall, and there are many advanced experiences worth learning. In particular, they acquired PayPal for $1.5 billion last year, and won the most valuable asset after Yibai, and the stock price directly surpassed that of the parent company Yibai when PayPal was listed in the future.

Of course, Elon Musk, a new billionaire, is not at a loss, he directly established three companies, a rocket launch SpaceX, an electric car Tesla, and a solar installation SolarCity, all of which have become star companies in later generations and made Musk truly famous in the world.

(To be continued.) )