No. 087 is not a joke

Wei Dongsheng shook his head and rejected Xiong Xiaoge's suggestion: "NetEase has the road of NetEase, and Spring and Autumn has the road of Spring and Autumn." ”

Wei Dongsheng eased his tone and explained in detail: "The business model of Spring and Autumn Network is not to show off technology, nor is it superstitious and strong, but rooted in user needs. What kind of needs do users have, what kind of games will Spring and Autumn Network launch. In the field of hourly payment, there is already "World of Warcraft"; In the field of freemium, there is already "Spring and Autumn of the Ten Kingdoms", and if a role-playing game with similar mechanics is launched in a short period of time, it will inevitably be distracted by internal friction. The evolution from "Journey to the West 2" to "Fantasy Journey to the West" is certainly a road to success, but it is not the pursuit of the Spring and Autumn Network. In this world, there are many paths to success. Instead of being greedy for one and that one, it is better to concentrate on the path under your feet. ”

Xiong Xiaoge smiled: "Who can guarantee that the road under your feet is the road to success." ”

Wei Dongsheng also smiled, but the answer was an unusually domineering leak: "I can guarantee it." ”

Xiong Xiaoge choked.

In the face of Wei Dongsheng's self-confidence, Xiong Xiaoge was speechless for a while, and some understood why Yang Fei spent half a year without gain. Xiong Xiaoge ended the inquiry in embarrassment, and said in a false tone: "Mr. Wei is really confident." ”

Wei Dongsheng took a step back to ease the atmosphere: "As an operator, it is impossible for Spring and Autumn Network to operate only one online game. However, unlike other game manufacturers' model of 'casting a wide net and catching more fish', Spring and Autumn Network will do its best to screen games based on user needs, select player groups, and select fields. In addition to World of Warcraft to supplement the field of hourly payment, Spring and Autumn Network has just recently established a new project that will fill the gap in the leisure field of Spring and Autumn Network. ”

Xiong Xiaoge no longer cares about the development model of the Spring and Autumn Network.

Because, no matter how good the prospect of the Spring and Autumn Network is, Xiong Xiaoge does not think that it will be able to grow to 5.78 billion US dollars.

$2 billion, all with little hope!

Moreover, the copyright of "Spring and Autumn of the Ten Kingdoms" is in the Spring and Autumn Software, and the exaggerated sales of "Spring and Autumn of the Ten Kingdoms" cannot be equated with the sales of the Spring and Autumn Network. After deducting sales shares and operating and tax expenses, Spring and Autumn Network can only get 30% to 40% of the gross profit, which means that it can only reach $578 million after the monthly sales of "Spring and Autumn of the Ten Kingdoms" have tripled. Even if the Spring and Autumn Network develops smoothly and reaches a market capitalization of $578 million three years later, the investment will not bring real benefits to IDG.

Just as Wei Dongsheng is unwilling to sell Spring and Autumn Network at a loss, IDG is also unwilling to invest in low-profit projects.

Since neither side is willing to compromise, the negotiations on the second option can only lead to a collapse.

Xiong Xiaoge is optimistic about the prospects of the Spring and Autumn Network, and also looks at the prospects of Tencent, and restarts the first plan proposed by Wei Dongsheng in the past: "In 2003, Tencent developed very well, with an annual operating income of 735 million yuan and a profit of 322 million yuan, which was no worse than the Spring and Autumn Network. Moreover, Tencent's desire to buy back its shares is very strong, and it is willing to raise it to $6.5 million. If Spring and Autumn wants to buy a 7.2% stake in Tencent, the $6 million offered half a year ago is not enough. ”

Xiong Xiaoge is bluffing and raising the price.

Wei Dongsheng's news shows that the Tencent team does not have a clear understanding of its own value, and after half a year of DG's urging, the Tencent team reluctantly raised the repurchase conditions from 4.579 million to 5 million US dollars. It was the generational gap between $5 million and $6 million that led IDG to take the trouble to organize today's talks, and an extra $1 million would be $1 million.

Wei Dongsheng insisted on the reserve price of $6 million: "In my eyes, Tencent's 7.2% stake is only worth $6 million. ”

Yang Fei spoke on behalf of Xiong Xiaoge: "I think Mr. Wei is very optimistic about Tencent, Tencent is the first investment of Spring and Autumn Company. ”

Wei Dongsheng: "I'm optimistic about Tencent's huge number of active users, not Tencent. If IDG owns 72% of Tencent, I would be more than happy to make an offer of $72 million or even $100 million, completely pocketing Tencent. Unfortunately, IDG only has a 7.2% stake, which cannot influence the decision-making of Tencent's top management, and it is difficult for Spring and Autumn Network to successfully monetize Tencent's resources. So, I can only make an offer of $6 million. ”

Once again, the negotiations have reached an impasse.

IDG wanted to raise the price to $6.5 million or even $8 million, but Wei Dongsheng was unwilling to let go and insisted on $6 million: "The reason why Huaguo Internet companies have come out of the cold winter is all due to Huaguo Mobile's 'Monternet' business, and Tencent is no exception." A look at Tencent's current revenue structure shows how much it relies on its partnership with Huaguo Mobile. However, the phenomenon of indiscriminate charging of text messages has aroused public outrage. It is said that SMS revenue accounts for only 3% of the annual revenue of mobile companies, while the number of complaints against SMS service is as high as 70%. Once the country begins to deal with the indiscriminate charging of telecommunications services, Tencent's revenue and profits will be cut in half. ”

The reason why IDG is optimistic about Tencent is also because Tencent is almost parasitic on Monternet at the moment, and there is no hope for any prospects. Xiong Xiaoge heard Wei Dongsheng's voice-over: "Do you have a way?" ”

Wei Dongsheng gave a reason: "Spring and Autumn Network is an online game operator. ”

Xiong Xiaoge's eyes lit up: "You mean, monetize Tencent's traffic advantage into gamers?" ”

Wei Dongsheng: "Yes. ”

Xiong Xiaoge hesitated: "Tencent also tried to set foot in the online game industry, but it failed. ”

Xiong Xiaoge is talking about "Triumph".

Wei Dongsheng: "I've paid attention to Triumph, and to be honest, although this game lacks the hardware foundation for a big hit, it is definitely an investment that can pay for itself. The failure of "Triumph" is more due to Tencent's unprofessionalism. However, Spring and Autumn Network is a network operator, and the operation of "Spring and Autumn of the Ten Kingdoms" is clear to everyone at a glance. If "Triumph" is jointly operated by Spring and Autumn Software and Spring and Autumn Network, "Triumph" will never die so miserably. ”

Xiong Xiaoge was thoughtful.

If Tencent can jointly operate with Spring and Autumn Network, it may not be able to open up a new world.

However, considering the persistence of Tencent's founder team and the stubbornness of the Spring and Autumn founder team, if the two sides have different opinions and fight internally, it is difficult to think about the good picture.

$6 million is stronger than $5 million after all.

Xiong Xiaoge thought about it for a long time, and finally chose to compromise.

Wei Dongsheng sighed and said goodbye to Xiong Xiaoge, Yang Fei, Zhou Quan and others: "I wanted to cooperate with IDG at a deeper level, but it seems that I can only wait for next time." ”

Yang Fei said with a smile: "There will definitely be opportunities in the future. You see, we met at this time last year, and we didn't negotiate a business; When we met this year, we negotiated a $6 million deal; When we meet next year, maybe we can talk about a big business of $60 million. ”

Wei Dongsheng laughed and said, "I hope so." ”

IDG's agreement to sell a 7.2% stake in Tencent for $6 million does not mean that Wei Dongsheng has successfully acquired a 7.2% stake in Tencent.

The purpose of the shares is cooperation, and the way of cooperation, the prospect planning of cooperation, and the exercise of their respective rights all need to be bound by the details of the contract. In addition, it is one thing for IDG to be willing to sell, and another thing for Tencent to accept a stake in Spring and Autumn Company.

Taking Spring and Autumn Network as an example, Huo Yongshan owns 13.3% of the shares, can venture capital such as IDG acquire Huo Yongshan's equity and control Spring and Autumn Network?

The answer is no.

Huo Yongshan wants to sell it again, Wei Dongsheng has a thousand ways to make him unable to sell; Venture capital got a 13.3% stake, and Wei Dongsheng still has a thousand ways to depreciate the 13.3% stake to 1.33%. Whether it is Huo Yongshan or Jing Minqiang, if they want to transfer the equity of Spring and Autumn Network, they must obtain Wei Dongsheng's consent.

The reason why this is so is because Wei Dongsheng not only holds 62.7 shares of Spring and Autumn Network, but also substantially controls the operation of Spring and Autumn Network.

Investing in Tencent is the same thing.

If the Tencent team is disgusted or even hostile to Wei Dongsheng, it will not help Wei Dongsheng to get a 7.2% stake in IDG, just as Huo Yongshan is to Spring and Autumn Network.

The acquisition of a 7.2% stake in IDG at a premium is only the first step in reaching out to Tencent, and the equity transfer contract contains more trivial details. Fortunately, these can be transferred to the legal department to go through the process. The smell of the Spring Festival is getting heavier and heavier, Wei Dongsheng is busy with the acquisition of Tencent's equity, busy with the first phase of the "Cambrian 2004" supercomputer design, and drove back to his hometown in Panyang City.

On the way, Wei Dongsheng suddenly received a call from Tencent: "Hello, I'm Zeng Liqing from Tencent." Excuse me, are you Mr. Wei Dongsheng Wei? ”

Wei Dongsheng replied in the affirmative: "It's me." ”

Zeng Liqing: "IDG reached an equity agreement with you a few days ago, doesn't Spring and Autumn Company think that the distance from Yanjing to Shenpeng is a bit far?" ”

Wei Dongsheng understood the meaning of Zeng Liqing's words, and retorted in a light tone: "The distance from Yanjing to Shenpeng is always smaller than the distance from South Africa to Shenpeng. ”

After IDG transferred 7.2% of its equity to Spring and Autumn Company, Spring and Autumn Company held 7.2% of the shares; Tencent's founding team holds 46.5% of the shares; MIH holds 46.3% of the shares. MIH's full name is Millard International Holding Group Company, which is located in South Africa, and in any case, it is farther away than Yanjing.

Zeng Liqing and Wei Dongsheng don't know each other and have no friendship, so after a few simple polite words, he said his intentions: "If Tencent insists on repurchasing 7.2% of the shares, what is the highest asking price in the Spring and Autumn Period." ”

Wei Dongsheng: "720 million." ”

Zeng Liqing: "Well, your asking price is too high." ”

Wei Dongsheng: "$720 million is not high. ”

Zeng Liqing was choked by Wei Dongsheng's words: "720 million US dollars...... I'll sell Tencent to you. ”

Wei Dongsheng: "Do you think I'm joking?" ”

Zeng Liqing: "Otherwise? ”

Wei Dongsheng: "If I say that if you are willing to accept a ten-year installment and I am willing to buy Tencent for $10 billion, do you still think I'm joking? ”

Zeng Liqing was completely stunned.

Zeng Liqing's mobile phone microphone was covered for two or three minutes before continuing the call: "You have $10 billion?" ”

Wei Dongsheng: "No. ”

Zeng Liqing: "Since you don't have $10 billion, why believe you're not joking?" ”