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When the news of Chenxing Network's 30 million yuan acquisition of 163.neT was disclosed, the storm was unimaginable, first of all, the stock prices of China.com, Sohu, Sina, and NetEase, which were the concept stocks of China.com, Sohu, Sina, and NetEase, especially NetEase, whose stock prices fell greatly. Originally, according to the course of history, it would have fallen into a "penny stock" that no one cared about in a few months, and the stock price, like other portals, was below $1 for a long time!

Now, the butterfly effect brought by Song Chen will have a more profound impact on the course of history, and the share price of the Chinese portal may fall to the bottom a few months earlier. Similarly, China-listed Internet stocks were also affected by the Nasdaq crash, and many websites were swept into junk stocks by the storm almost all at once.

However, what is surprising is that after the acquisition of 163.neT by Chenxing Network, the stock price fell inexplicably3, which means that the capital market does not welcome Chenxing Network to plunge into the construction of the portal without a profit plan.

After all, there are so many global portals, and with the exception of Yahoo, which turned a profit two years ago, other websites have been hovering in the red for a long time, and China's portals are no exception.

Moreover, Wall Street analysts believe that Yao Hua's acquisition of 163.neT for 30 million yuan is not cost-effective, and 163.neT does not bring enough value to Chenxing Network, and these analyses directly became the reason for the decline in Chenxing Network's stock price.

At the same time, the investment institutions of Chenxing Network pointed the finger at Song Chen and SoftBank Group! In particular, Masayoshi Son, as the majority shareholder of Chenxing Network, Wall Street analysts have very sharply accused SoftBank Group of not playing a role in the board of directors to block Yao's acquisition plan.

They didn't know that when Son Masayoshi learned the news of Yao Hua's intention to acquire 163.neT from Li Mingren, not only was he not dissatisfied, but jumped up in front of many high-level executives and laughed: "This guy finally can't stand it, haha!" Good! Good! ”

Suddenly, Sun Zhengyi put away his smiling face as if he had changed into a different person, looked directly at his subordinates with a gloomy expression, and said coldly: "I can sue you now, I don't sell the depository receipts of Chenxing Network, I won't sell any of them!" On the board, I still replied the same, not for sale! ”

The executives of SoftBank Group looked at each other with wry smiles.

……

Unlike Masayoshi Son, who is resolute and clamoring on the board of directors not to sell, "Yahoo Chief" Yang Zhiyuan is experiencing similar troubles to Masayoshi Son.

Yahoo's board of directors is becoming more and more hostile to googLe and Chenxing, but Yahoo's board of directors is afraid to take the initiative to fight with googLe, the reason is: googLe is the technology supplier of Yahoo Search, and the two sides have concluded a five-year cooperation contract, and this contract has only been two years now!

Yahoo paid $3oo million a year for technical services to use googLe's search technology, a deal that made Yahoo proud two years ago, and felt that it had taken a huge advantage, and public opinion and Yahoo's former technology supplier DEC even accused googLe of "malicious competition".

At that time, IT reporters maliciously ridiculed Song Chen: Chinese always do not forget to use price competition as a killer weapon repeatedly, forgetting that this is a country with a strong sense of innovation and a very fast technology upgrade cycle, and googLe will pay a bloody price sooner or later.

His prediction eventually became a common buzz and joke in the industry.

Larry? Paige and Sergey? After being acquired by Song Chen, combined with Baidu's more advanced algorithms and Yahoo's huge traffic, googLe completed the "change" from the ugly duckling to the swan in the shortest possible time, beating almost all its peers in the world in less than a year, forcing them to transform into a very popular portal at the time, typically two: a1tavista and Lex.

Yahoo's board of directors did not get complacent for too long, and the strength of googLe caused them to be uneasy, especially after googLe launched aoRds and adsense successively, the advertising was accurate, the conversion rate was high, and the price was low...... It quickly gained recognition from advertisers.

Yahoo realized that googLe had become a fast-growing competitor parasitic on Yahoo, but they were helpless because the cooperation agreement between the two sides was a huge bait: Song Chen induced Yahoo to sign a five-year cooperation agreement at a preferential price of 5O, and the liquidated damages were as high as 100 million US dollars...... This result is unbearable!

Yang Zhiyuan, who was instrumental in facilitating this transaction, undoubtedly became the target of criticism from shareholders, completely forgetting that their short-sighted behavior in order to save costs was the real root cause of the cooperation between the two parties!

In fact, Yahoo's board of directors has always been known for its short-sightedness, and Yang Zhiyuan, who has enormous influence over Yahoo, also bears unshirkable responsibility. In the absence of Song Chen's "history", Yahoo's "clumsy expression" makes people shake their heads and choke:

First, googLe had repeatedly wanted to see the company sell to Yahoo, but the two parties eventually parted ways because of the quotation; And after googLe grows up, Yahoo is impatiently waving a $3o check to buy it, and it is too late, when the value of googLe has been recognized, and then googLe goes public, and it is out of control......

Second, Yahoo China, here we have to mention the relationship between Yang Zhiyuan and Zhou Hongyi, the "rogue software collector".

In 2oo4, Yang Zhiyuan was ready to buy a big 6 company to boost Yahoo China's performance, and there were two options at that time, Baidu and 3721. Baidu offered $150 million, 3721 offered $120 million, Yang Zhiyuan chose the latter, and Zhou Hongyi also sat in the position of the head of Yahoo China.

To be sure, Zhou Hongyi's work at Yahoo has been outstanding: Yahoo China achieved $4ooo in revenue and $1ooo in net profit in its first year; Yahoo Search ranked second in China over gooLe at that time, and the momentum of Yisou Search was very good; Email users ranked second over NetEase; Instant messaging Yahoo Messenger has more than 10 million daily active users......

Seeing what Zhou Hongyi did at that time, you can understand why he is so persistent in searching.

It's just that, under the great shape, Yahoo has put forward unrealistic performance requirements for China, and even more hatefully is not willing to invest money, typically: "I want the horse to run, and I want the horse not to eat grass".

At that time, Yahoo China was the best period in history, but Yahoo headquarters made a mistake in the long-term strategic positioning of China, and did not seize the opportunity to pursue the victory, Zhou Hongyi and Yang Zhiyuan had a disagreement on the direction of the exhibition, and after Yahoo acquired Alibaba's 4O shares, he finally chose to leave.

Few people know such a detail: after Zhou Hongyi founded the Qihoo 36o website, he once bound such a domain name: ""...... Full of resentment, he even drove 36o Security Guard and directly killed his own son 3721 - the predecessor of Yahoo Assistant.

Third, that is, the indignant "Microsoft acquisition case" of American investors and loyal fans of Yahoo, Yang Zhiyuan rejected the "olive branch" handed over by Microsoft - the acquisition amount was as high as 47.5 billion US dollars, which was the best cash-out opportunity for Yahoo investors, but Yang Zhiyuan pushed it away. Yang Zhiyuan overestimated his own ability, thinking that he could turn the tide and rebuild Yahoo, that is, because of this incident, Yang Zhiyuan was liquidated and left the house, becoming a typical case of the business community sighing.

It can be said that Yahoo's subsequent downfall is not only due to the objective problem of the rise of the search engine represented by googLe, but also the subjective problem of the lack of foresight in the business strategy.

Whether it is scale or revenue capacity, googLe is now stronger and more capitalized than googLe in the same period of history, so even if the Yahoo board recognizes the threat of googLe, it is still trying to curb the rise of googLe, but there is still no good way.

As for the news that the board of directors intends to sell the shares of googLe and Chenxing Network, it only gives Song Chen a direct understanding of Yahoo's "short-sightedness".

"Yang, maybe we can talk to Song Chen!" Yahoo co-founder, technology president David? Fei Luo built yì to Yang Zhiyuan.

As a technical engineer, David? Ferro has a reserved personality similar to that of an engineer, and usually doesn't care about topics other than technology, so there are few things that make him hesitate. This time, the shareholders are quarreling over the matter of googLe and Chenxing Network, David? Fei Luo naturally heard about it, and he also knew that Yang Zhiyuan and Song Chen, who were both Chinese, had a good personal relationship, so their position was inevitably embarrassing.

"How?"

In the office with a bright and clean window, Yang Zhiyuan folded his legs, picked up a cup and took a sip of coffee gently. He shook his head with a wry smile, put down the cup and said, "The stronger the googLe, the more intense the conflict we have seen!" I also regret it very much now, if I hadn't brought the wolf into the house, I wouldn't be so embarrassed now! ”

David? Fei Luo shook his head disapplausively: "Yang, you don't need to feel sad, although you were the one who brokered our agreement with googLe in the first place, this plan was approved by the board of directors!" What's more, who knew that the 'sunset technology' would glow with such powerful energy in the first place? When it comes to vision and foresight, there are really few people in this world who can compare to Song! (To be continued...)