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At this time, Zhai Yan, Jiang Yan, and Yao Hua were already on the plane to the United States. This time I went to the United States, first, the long-term strategic cooperation between Chenxing Network and Yahoo; The second is the intentional negotiations on Yahoo's investment in Chenxing Network. At the moment when Mirabi1is and AOL are about to complete the sky-high acquisition case, under the lobbying of Yang Zhiyuan, David? Representatives of Ferro, SoftBank and Yahoo readily agreed to the decision to invest in Chenxing Network!

This is dictated by the current situation, when the landscape of the American portal is a Yahoo; 2. AOL; Three MSN. [Note: Microsoft's own web portal, MSN has not yet opened the network instant messaging technology at this time]

AOL is a huge group composed of portals and Internet access providers, and after he acquired ICQ, which has more than 20 million free registered users, no one knows what direction the portal pattern will go in the future! Therefore, the most conservative strategy is that Yahoo supports its own IM software to compete with the second American Online, which is actually a cooperation with Song Chen.

Unlike Son's long-term fishing, Yahoo is far stronger than SoftBank Group. Even though Yang Zhiyuan verbally promised that he would not snatch the controlling stake of Chenxing Network, the asking price of 35% of the equity still made Song Chen shake his head suddenly.

If you take into account the option pool of no less than 5% reward executives, as well as Masayoshi Son's additional investment, the equity of Chenxing China Holdings will be diluted to about 4o! It can only be achieved relative holding!

Fortunately, this is just a starting price for business negotiation conventions, not to mention that Song Chen disagrees with the 35% equity of Chenxing Network, and Masayoshi Son, who has just arrived in San Francisco, cannot agree!

Son Masayoshi firmly remembered Li Mingren's words at this time. With as much equity as possible in Chenxing Network, how could he allow Yahoo to embezzle so much equity? It's better to hold it in Song Chen's hands than in Yahoo's hands, even if Son is a shareholder of Yahoo himself...... Compared with Yahoo's deep pockets, Chenxing Holdings is obviously easier to succumb to reality. Isn't it?

As soon as we met, there were countless love words, and endless scarlet lingering.

Jiang Yan and Zhai Yan's two daughters, who were pulled by jet lag, were entangled by the red waves on the bed for more than an hour, and Zhai Yan, who had always been worried, got out of the quilt and pillowed on Song Chen's arm and asked with a tired face: "Will the second round of financing of Chenxing Network be too fast, to put it mildly, Chenxing Network's server investment is much more saving than Baidu goog1e!" Save a little money, Chenxing Network can also use the existing funds to support two or three years! ”

Jiang Yan pillowed on Song Chen's other arm. The red face is infinitely shy, mixed with a happy and contented smile. This was the first time she had been ashamed to accompany another woman to serve the same man.

Enjoying the blessings of all the people, Song Chen smiled slightly, and said with a deep face: "You don't know! Ah Yue, do you remember what I said in the bar before? ”

"Bars? Which sentence? Jiang Yan, who had just endured the rain and dew like a little woman, obviously hadn't recovered from the joy **. After a long time in his mind, he smiled and said, "You're not optimistic about the crazy hype of venture capital on Internet stocks now?" Isn't it this? ”

"Huh?" Zhai Yan, who was originally very sleepy, was greatly surprised, "Is there still this matter?" ”

Song Chen nodded with a smile and replied softly, "Hmm". Later, he added: "The more fanatical the public opinion media venture capital is, the worse the NASDAQ will fall in the future, and I am just looking for 'winter' food for the subsidiaries one by one!" Listing first to make money, and then buying back the equity on the grounds that the price is seriously undervalued when the stock market plummets. It would be great if it could be privatized...... Hey, hey, hey! ”

In the end, Song Chen couldn't help but laugh proudly. Relying on the cheating method of rebirth to grasp the general trend of a certain period of history that cannot be changed, although there is little sense of accomplishment in the bottom of my heart. But I can't help but deny that it's a really good feeling! It's like if you take all the money and buy Google or Apple stock, and you are sure that you will have an unimaginable windfall in 2o12, which is very cool!

"It's the same as it really is, what if you're wrong?" Zhai Yan asked with a pout.

"That's it! The gods are babbling like gods! Jiang Yan laughed heartily.

Kneading the softness of his chest with both hands around the second daughter's jade neck, Song Chen smiled and said, "Isn't it because you believe that I can achieve amazing achievements?" Believe me, Nasdaq's Internet stocks are bound to plummet in the next two years! I am afraid that most of the Internet companies in the United States and China will go bankrupt, and that is when our Chenxing Holdings is really famous and resounding all over the world! ”

Although Zhai Yan felt a little bit that Song Chen said these words, considering his sharp and long-term vision, he couldn't help but believe it. What's more, the popularity of Nasdaq Internet stocks is indeed a very disturbing signal to outsiders......

Rou Yi gently pressed Song Chen and grabbed her soft and plump hand, Jiang Yan did not speak, but snuggled in Song Chen's arms with a happy face, enjoying this rare peace and quiet, and the fatigue of the long journey soon made them fall asleep.

Only Song Chen's eyes were shining, flashing with shocking ambition.

The only thing he cares about is whether Yahoo and SoftBank Group will choose to cash out as he wishes when the Internet crashes.

That's what he's really worried about.

……

The arrival of Zhai Yan, Jiang Yan, Yao Hua and Son Masayoshi opened the second round of financing negotiations between Chenxing Network, SoftBank Group and Yahoo. The tone of the negotiations was based on the premise that SoftBank Group and Yahoo were willing to endorse a formal agreement to recognize a controlling stake in Chenxing (China) Holdings.

Because once the financing agreement is completed, if Yahoo and SoftBank Group partner to seek control of Chenxing Network on the board of directors, Chenxing (China) Holdings may lose Chenxing Network!

Son and Yang have no objections, their reasons for investing in Chenxing Network are generally the same, and they also believe that only Song Chen and his management team really know the value of IM software, and any plan to snatch Chenxing Network seems meaningless. However, in the early negotiations, SoftBank Group and Yahoo first disagreed on the valuation of Chenxing Network.

Chenxing Network was identified by Masayoshi Son as $100 million in the first round, and this time Son believed that QQ was worth $300 million with reference to the total amount announced in the ICQ acquisition.

In the spacious and almost empty conference room on the third floor of the Chenxing Park, Yahoo Executive Tim? Coogle first believes that the current QQ is not worth so much money, if the value of an IM is measured by the number of registered members, then each free registered user of ICQ is worth 16 US dollars, and in the same way, QQ, which is only more than 2 million free registered users, is only worth more than 30 million US dollars, and the first round of valuation of SoftBank Company is obviously Yan Zhan Zhòng overestimated the value of Chenxing Network.

Yahoo CEO Tim? Since taking office in 1995, Coogel is best known for pioneering a new business model. In the minds of Internet users, Yahoo is almost synonymous with free search, free news, free references, free email, free online shopping, and free chat, among other things.

In the eyes of investors, strong popularity is the guarantee of advertising revenue. Yang Zhiyuan and David? Ferro had considered a fee-for-service model at one point, but Tim? Kugel eventually convinced them.

As a result, Yahoo's business model has become the object of imitation by many later generations, and the three major Chinese portals have largely imitated Yahoo's existing model.

Tim's favorite thing is capital acquisitions, including last year's acquisitions of Four11 and RocketMai1 (the predecessor of Yahoo Mail) and the acquisition of C1AssiC Games (the predecessor of Yahoo!Games...... Perhaps the concept of dot com is too hot and it is too easy to make money, and now Tim is very interested in Penguin (QQ) and also intends to buy Chenxing Network, but Yang Zhiyuan and the major shareholder SoftBank Group firmly oppose it on the board of Yahoo, which finally made him dispel this idea.

SoftBank has already made a first round of investment in Chenxing Network, and naturally hopes that the higher the value of Chenxing Network, the better, so Son Masayoshi smiled slightly and said: "I am investing in QQ's future growth space, not the current growth number!" In fact, it is obviously unfair to compare ICQ with QQ for the latter, just as we can't compare the city of a big city with a small shop in a small village, which meets the daily needs of residents within the region, and the two are not comparable! ”

Son's enthusiasm for Chenxing Network made Song Chen very uneasy, and he didn't want Son to hold a large amount of equity in Chenxing's subsidiaries in the future and not let go. Especially when the stock market crash came, if Son insisted on not selling stocks, then Song Chen's smug plan to make a difference in the NASDAQ crash would undoubtedly fail.

Yang Zhiyuan smiled: "The people on the board of directors have used QQ, and from the perspective of user experience, QQ has many advantages over ICQ, so it is indeed unfair to measure the value of QQ purely by the number of users!" However, I don't agree with the value of Chenxing Network worth 300 million US dollars, but 200 million US dollars is my valuation of Chenxing Network, and we Yahoo are willing to invest 6ooo million shares in Chenxing Network! ”

Yao Hua shook his head and said in very fluent English: "There is a gap, there is a gap, through the feedback from foreign users in the past few days, American users are very satisfied with our QQ products, and think that our QQ interface is more friendly than ICQ!" This makes us believe that the first advantage is important, but it is the user experience with technology as the core that will determine the future market! So I think our Chenxing network is definitely over 300 million US dollars! ”

No matter what Masayoshi Son thinks, whether it is Chenxing (China) Holdings or SoftBank Group, the desire to make the plate of Chenxing Network bigger is the same! (To be continued......)

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