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[This chapter is difficult to write, although you can consult the information, but it is really difficult to write for the author who does not have business knowledge! There will be more and more minefields in the future, but the author tries to ensure that one is dedicated and the other is not netbsp; In fact, Whitman's resolution is the best for Jack Ma and other founders, if successful, the equity of Wanda Fund and eBay will be almost equal, which is enough to form enough capital checks and balances to prevent eBay from swallowing Tmall alone!

However, this is based on the situation that Song Chen does not interfere!

Ma Yun was silent for a long time before he said: "I know that Mr. Wang hopes to sell all the shares of Internet companies he holds in exchange for cash, but considering the current situation, this is probably not optimistic!" ”

Wang Zhiyong said lightly: "It's really not optimistic, but the shares of Tmall.com have been favored by others, as for who it is, you must know it!" ”

His face changed, and Ma Yun said very sincerely: "Mr. Wang, I hope you can take into account the difficulties of eBay and Tmall!" ”

Tuckers smiled: "Mr. Wang, although we can only acquire your 5 shares, Whitman has instructed me that if Wanda Fund is willing, it can sign a three-year transfer agreement with us!" We will increase our stake in Tmall.com held by Wanda Fund for a period of three years, and we can negotiate the price and payment form at any time! ”

This can be considered.

After looking at Ma Yun and seeing that his face changed slightly, Wang Zhiyong muttered: "Mr. Ma, what do you think?" ”

Jack Ma was silent.

Seeing that he was silent, Wang Zhiyong couldn't help but show sympathetic eyes: In the end, he is not as lucky as Song Chen! Since the loss of control, the fate of Tmall has been out of the control of Jack Ma and these founders.

"Mr. Tuckers, I need to consult with the board of directors and give you a formal answer in two days!"

"Ok, looking forward to your reply!"

originally thought that Ma Yun acquiesced to the reality that eBay controlled Tmall.com, however, Wang Zhiyong soon realized the unruliness behind Ma Yun's silence.

After returning to the hotel and breaking up with Tuckers, Ma Yun chose to come to the company alone to visit Wang Zhiyong again, this time, he directly said his request, and this request made Wang Zhiyong really pay attention to the man in front of him who was as big as an eT.

"I hope that Mr. Wang can support me to use Tmall's own funds to buy back all the shares of Wanda Fund!"

Wang Zhiyong gasped, although there was no lack of appreciation in his eyes, he still said in a deep voice: "Mr. Ma, I hope you can realize the consequences of this sentence!" ”

"I understand!" Ma Yun nodded, "But you have to understand that if I don't give it a go today, at the latest three years, Tmall will completely become a subsidiary of eBay, which is unacceptable to us!" ”

Wang Zhiyong stood on the edge of the sand and paced back and forth, while looking at the man with a sinking face, he said lightly: "Before accepting eBay's capital injection, Tmall was valued at $60 million after merging with Tencent, and after the investment was $200 million, this investment case is now seen as another proof of the bubble of China's Internet economy...... Bubble or not, let's not mention it for the time being, Tmall had $140 million in cash at that time, but it wasn't that much, because eBay's $100 million was received in installments! Even if the investment in logistics and technology research is huge, even if the assets of Tmall are overvalued, but the company's book funds are real, if Mr. Ma wants to buy back all the shares from us, Tmall must come up with 40 million US dollars! ”

Even if Wanda Fund gets 40 million US dollars, compared with his investment in Tmall and Tencent, the floating loss is about 10 million US dollars! Therefore, Ma Yun knew that Wang Zhiyong did not open his mouth widely, but was very sincere, which is actually equivalent to Wanda Fund choosing to withdraw its capital!

Ma Yun nodded: "Yes!" ”

Wang Zhiyong's pupils shrank, he sat opposite Ma Yunsha, leaned slightly towards Ma Yun, and asked in a very cautious tone, "Okay?" ”

Ma Yun nodded again without hesitation: "Yes!" ”

Wang Zhiyong said in shock: "Mr. Ma, you must know that once you allow us to withdraw our investment, other Vcs will definitely make the same request!" This is still secondly, part of the funds withdrawn this time is the amount of eBay's investment, will eBay agree? And once eBay also chooses to withdraw its investment, then Tmall can only go bankrupt and close down on the same day, can you think clearly? ”

"I know very well!" Although Ma Yun's tone was a little trembling, his eyes were extremely resolute, "However, I need time, I need enough time to find the next investor, Tmall must not become a subsidiary of eBay, lose the controlling stake and lose the company's lessons, 'China Yellow Pages' is enough this time!" ”

When Jack Ma was 12 years old, as Chinese society began to emerge from this period of turmoil, he decided to perfect his English skills because he was poor in math and good in English. He works as a tour guide for foreign tourists for free, so as to improve his language skills and open the door to the outside world.

After failing the college entrance examination twice, he reluctantly squeezed into Hangzhou Normal University to study English. [Note: Later Hangzhou Normal University]

Turning into a teacher, Mr. Ma quickly abandoned what was widely regarded as a risk-free and respectable profession and in 1994 started his own company, Haibo Translations, a translation agency that moved to the United States later that year, where he was first introduced to computers and the Internet — and decided to set up an Internet business.

In 1995, he founded the China Yellow Pages, an online directory for Chinese companies.

But because his hometown of Hangzhou doesn't have internet access, few of his clients can see if their ads are on the site. In the early days of the site, he placed a group of potential customers in a room with a computer and uploaded their web pages via a long-distance phone link from Guò to Shanghai for them to watch.

Ma Yun sold the office furniture of Haibo Translation Agency, borrowed money from relatives and friends to raise 80,000 yuan, plus the investment of two friends, a total of only 10,000 yuan, for an Internet company, these funds are not worth mentioning.

At that time, the most fierce competition with Ma Yun was Qiantang Telecom, which was a war of disparity in strength, with a registered capital of more than 300 million yuan and a registered capital of only 20,000 yuan for Ma Yun; This is also a life-and-death war, Qiantang Telecom took advantage of the existing reputation of China Yellow Pages () to make a website with a very close name, also called "China Yellow Pages", in order to divide the market of Jack Ma's "China Yellow Pages".

Ma Yun had no choice but to save the predicamented China Yellow Pages and make the Chinese Yellow Pages continue to live, Ma Yun decided to rely on a backer to enhance his ability to resist risks, and finally chose to cooperate with Qiantang Telecom.

In March 1996, China Yellow Pages converted its assets into 6O yuan, accounting for 3O shares; Hangzhou Telecom invested 14o yuan, accounting for 7o shares.

From the very beginning, the cooperation between Jack Ma and Qiantang Telecom was a choice of last resort, and this combination of the same bed and different dreams was destined to not last long! Sure enough, it wasn't long before the cooperation between the two sides went wrong.

Although Qiantang Telecom is also bullish on Jack Ma's China Yellow Pages, it is eager to capture more revenue.

And Ma Yun believes that being an Internet company is like raising a child, and it is impossible for a 3-year-old child to make money! The two sides are fighting with each other, the differences are deepening, the party with high capital and power naturally has more right to speak, and the matter is gradually getting bigger, first He Yibing wants to resign, then all the employees of China Yellow Pages want to resign, and finally Ma Yun is also going to resign, and the whole incident even alarmed the "People's Daily".

But Ma Yun realized that he was slight, and he lost the controlling stake in the company and could not control the overall situation, so he finally chose to part ways with Qiantang Telecom with the entrepreneurial team. It is precisely because of the lessons of China's Yellow Pages that Jack Ma has always attached the most importance to the controlling stake in the company.

However, Ma Yun was made a joke by God, and Song Chen traveled back to start the Internet, so Ma Yun missed the historical opportunity, and at this time he was worried not about the company's controlling stake, but about the same problem that China Yellow Pages needed to face: whether to survive or control.

Jack Ma chose to survive.

As a result, Tmall.com ushered in the first venture capital of Wanda Fund of 5 million US dollars, followed by the second venture capital group led by Wanda Fund of 50 million US dollars, and the final injection of 100 million US dollars by eBay.

For Ma Yun, the reality forced him to have no choice, after the transformation of C2C, whether it is backed by Chenxing Holdings' Taobao or capital, the pressure on him is very huge, and he must choose a suitable backer!

However, Ma Yun also firmly believes in one point, so he said with a straight face: "But I believe that eBay will not withdraw funds, because it can be used as a fulcrum for them to enter the Chinese market at the moment. And Amazon, I believe that with Bezos's vision, 8848 will not be ignored and continue to grow bigger! ”

"Bezos?" Wang Zhiyong pouted, this person is now difficult to protect, how can he have the courage to wave a knife at Song Chen, who has a lot of money?

Although he didn't think so, Wang Zhiyong still felt that Ma Yun's courage was commendable, and he also thought that eBay would not give up Tmall, so he thought about it for a long time before nodding and said: "Mr. Ma's request, I already know, the shares of Tmall.com's executives and Wanda Fund are enough to facilitate this transaction!" However, in order to avoid a fire in the backyard, I think Mr. Ma needs to reach an understanding with eBay! After the transaction is successful, eBay will become the majority shareholder of Tmall.com, and Whitman's attitude is very important! ”

"Yes, I'll go and apologize to Ms. Whitman myself, but that's after the trade!" Ma Yun said lightly.

Since Ma Yun is so sure, Wang Zhiyong, who can successfully cash out and leave the market, said with a toothy smile: "Mr. Ma, it seems that you are about to return to the big 6, I will ask Manager Wei to cooperate with you to reach a share repurchase plan on the board of directors, I wish you what you wish in advance!" ”

"Each other, each other!" Ma Yun replied lightly.

On the same day, Ma Yun took the plane and returned directly to Qiantang City, and with the active cooperation of Wei Wu, the financial officer Xi, he quickly formulated the acquisition memorandum. Tuckers learned of Jack Ma and Wang's decision from the directors of Tmall.com.

After the news was revealed, the industry was in an uproar, and at this time, Song Chen had just gotten on the plane to Hong Kong.

The decision to acquire Tmall has come to naught! (To be continued...!)