Starting with a fully invested A-share portfolio to become a capital...

Chapter 159 Signing the Betting Agreement, Looking Ahead to Lunch with Buffett

When Ma Yun mentioned the "betting agreement," a subtle slyness flashed in his eyes. As the CEO of Alibaba, he knew the essence of retreating to advance.

A 5% stake is priced at 5000 million, valuing the company at 10 billion. Very few financial websites can reach this valuation, but it certainly doesn't include the flamboyant Caiyan.com.

Why did he invest?

1. They saw the potential in Zhang Yang.

2. It is backed by a "betting agreement".

If 5000 million yuan is invested and Caiyan.com can achieve a net profit of 1 million yuan within a year, then Caiyan.com will be considered a high-growth financial company, which is highly sought after by venture capital banks. With a little manipulation, its valuation can be given more than 25 times earnings.

Although Ma Yun does not currently intend to enter the internet finance field, she has learned about the price-to-earnings ratios of leading internet finance companies such as Eastmoney and Tonghuashun, which are basically between 25 and 35 times. If they can go public, breaking through 50 times is not a problem.

Looking at common "betting agreements," they can be roughly divided into five categories.

1. Share repurchase type.

These types of "performance-based agreements" are relatively "mild," meaning that if the performance targets are not met, the investor's equity will be repurchased at the agreed price.

Those who can sign such "betting agreements" are basically the darlings of investors.

2. Monetary compensation type.

If the company fails to meet its targets, it must provide investors with a certain amount of monetary compensation, while the equity ratio remains unchanged.

3. Equity dilution type.

If a company fails to achieve its goals, existing shareholders agree that investors may inject additional equity into the company at a low price, thereby diluting the existing shareholders' equity stake.

4. Equity-preferred type.

If a company fails to meet its targets, investors will receive priority rights such as priority in dividend distribution, priority in distribution of remaining assets, and disproportionate voting rights.

5. Holding transfer type.

When a company fails to meet its goals, existing shareholders agree to allow investors to increase their capital or acquire shares at a low price, thereby enabling investors to gain controlling interest.

It is worth mentioning that these five are the most "original" valuation adjustment mechanisms (VAMs), and the VAMs commonly used by venture capitalists today are a combination of multiple versions of these.

For example, a "performance-based agreement" that combines monetary compensation, transfer of controlling interest, and equity preference means that if the target is not met, the party not only has to pay compensation but also has to have their shares purchased at a low price, thus losing control of the company.

This is why many entrepreneurs who fail in their bets choose to jump off buildings, because they will truly lose everything.

Ma Yun's idea is simple: as long as Zhang Yang dares to sign the "betting agreement," regardless of whether Caiyan.com's final performance targets are met, he can at least ensure the safe withdrawal of his principal thanks to the repurchase clause and compensation mechanism in the agreement, and may even reap a considerable profit.

At this point, many people might wonder, isn't Ma Yun afraid of Zhang Yang running away with the money?
First of all, those who can get into Zhejiang businessmen's dinner parties are basically prominent figures in Jiangsu and Zhejiang, which is already a preliminary screening.

Looking back at the conversation between Zhang Yang and Xu Yan'an, and the introduction of business leaders such as Liu Hua, Yao Naxin, and He Qiaonv, one clear message emerges: Zhang Yang, or rather his family background, belongs to the Zhejiang business community.

With the initial screening conducted by the Zhejiang businessmen's dinner party, and endorsements from Xu Yan'an, Liu Hua, Yao Naxin, and others, Ma Yun naturally wouldn't associate Zhang Yang with a fraudster.

Secondly, tonight's agreement is at most a verbal agreement; before the actual signing, Ma Yun will have the venture capital department conduct background checks.

……

On the other hand, when Zhang Yang heard Ma Yun propose a "betting agreement" that required Caiyan.com to achieve a net profit of over 1 million within a year, his face darkened, and he wondered if she was subtly rejecting him.

What does a net profit of 1 million yuan mean?
In 2008, Tonghuashun's total revenue was only 1.174 million yuan, with a gross profit of 9155 million yuan, a net profit attributable to shareholders of 3835 million yuan, and a net profit excluding non-recurring items of 3833 million yuan.

Looking at Eastmoney, its total operating revenue in 2008 was 1.182 million yuan, gross profit was 4857 million yuan, net profit attributable to shareholders was 5558 million yuan, and net profit excluding non-recurring items was 4859 million yuan.

Some people may wonder why Eastmoney's gross profit is lower than its net profit attributable to shareholders. This is mainly because Eastmoney received government subsidies and disposed of some non-current assets.

Ma Yun requires a net profit of 1 million yuan, so Caiyan.com's revenue must reach at least 2.5 million yuan, or even 3 million yuan.

"A net profit of 1 million yuan, and within a year? Mr. Ma is asking too much. Even top companies like Eastmoney and Tonghuashun have not reached this standard."

Before Ma Yun could speak, Zhang Yang added, "Moreover, Caiyan.com is a startup company, and it will need to continue investing in recruiting employees, expanding hardware, and updating the website. It's basically impossible for it to achieve a net profit of 1 million."

"but!"

Suddenly, Zhang Yang changed the subject and continued negotiating: "If we extend the timeframe to two years, or if the net profit is halved, I believe Caiyan.com can do it, and it definitely can!"

"!!!"

Ma Yun was startled.

Net profit was halved, amounting to 5000 million yuan, which is equivalent to the annual income of companies like Eastmoney and Tonghuashun.

A year to become a top performer?

Is it necessary to be so confident?
Who gave Zhang Yang the courage to say those words?
Ma Yun originally intended to suppress Zhang Yang's arrogance, obtain a higher equity ratio, and then lower the performance-based compensation requirements. However, she did not expect Zhang Yang to stick to the 5% equity stake.

Based on the industry's price-to-earnings ratio of 25 to 35, and taking 30 times the midpoint of the 5000 million net profit, which is a valuation of 15 billion, this means that Ma Yun can not only recover her costs but also make a net profit of 2500 million.

If the timeframe is extended to two years, a net profit of 1 million would be even more staggering, with a valuation of 30 billion. A 5% stake would already be worth 1.5 million, clearly indicating a path to an IPO.

Anyone who has worked in venture capital knows that once a high-potential, high-growth company like this goes public, its price-to-earnings ratio can easily exceed 50.

"Becoming a leader in one year, and a top player in two years—who gave you that confidence?"

Ma Yun was completely convinced.

He thought he was good at bragging about attracting investment, but he didn't expect Zhang Yang to be even better at it. There's always someone better than you.

"To forge iron, one must be strong oneself. Confidence naturally comes from within. If Mr. Ma is interested in this project, please give me your business card. I will personally bring the data and materials to visit you at Alibaba headquarters tomorrow." Zhang Yang remained confident and composed, without the slightest stage fright.

For Caiyan.com, the 5000 million yuan investment from Alibaba is not the most important thing; rather, it is its built-in exposure channels.

2009 was the year Taobao reached its peak, because the first "Singles' Day Shopping Festival" would elevate Alibaba to legendary status.

The "Singles' Day Shopping Festival" propelled Taobao to its peak, and Caiyan.com was able to capitalize on the massive influx of traffic and climb to the top spot.

In addition, 2008 was a bear market, and retail investors had low investment desires, so the frequency of use of financial websites naturally declined. This is also the reason why the total revenue of Eastmoney and Tonghuashun was only over 1 million yuan.

However, starting from the end of 2008, the "4 trillion yuan investment plan" spurred a bull market. Currently, the Shanghai Composite Index has risen from 1664.93 points in October 2008 to 3088.37 points, an increase of more than 1400 points. Countless stock investors have re-entered the market, and the demand for financial websites is now completely different.

Most importantly, Zhang Yang knew that starting in the second half of 2009, a large amount of foreign capital would flood into China, and the currency devaluation caused by inflation would, to some extent, dilute the difficulty of the conditions proposed by Ma Yun.

Despite the combination of various factors, Zhang Yang did not believe he would lose.

Ma Yun stared intently at the confident young man before her, who seemed capable of plucking the sun from the sky, and exclaimed, "Honestly, you are the first entrepreneur to approach me with 5% equity to discuss 5000 million in venture capital."

As he spoke, he pulled a business card with only his name and phone number from his pocket and handed it to Zhang Yang, saying, "I'll be waiting for you at Alibaba headquarters at 10 a.m. tomorrow."

"I will definitely be on time."

Zhang Yang took the business card and said with a smile.

Capital is profit-driven. It prefers to make money, especially money that can be earned effortlessly.

Don't be fooled by Ma Yun's public statement that she doesn't like money. People who truly dislike money are either powerful or saints.

……

After reaching a preliminary agreement on cooperation, Ma Yun returned to the group and chatted with other business leaders.

Xu Yan'an, an academician of the medical school, moves between various groups, and each group particularly welcomes the arrival of "resource-rich talents".

After achieving his goal, Zhang Yang found a place to sit down.

It's not that he doesn't want to engage in business networking, but rather that the essence of business networking is resource exchange. By flaunting the resources he has, he can't even have a proper conversation with other business leaders.

But Zhang Yang wasn't just sitting there doing nothing; he also had "Milk Tea Sister" (a nickname for Zhang Yang) chatting with him.

Zhang Zetian and Zhang Yang are six years apart in age, so there was no generation gap between them, and they were probably among the youngest people at the banquet.

9 pm.

The banquet hall was no longer lively.

Ma Yun, Li Shufu, Liang Xinjun, Zhou Chengjian, and other bigwigs of the same caliber have moved to private rooms to discuss business matters.

Liu Hua, Yao Naxin, and He Qiaonv were the second tier of Zhejiang businessmen, each with their own private rooms. Zhang Yang also managed to infiltrate one of them by virtue of his relationship with Liu Hua.

In a banquet hall, no one cares about your status or position, because the first stage is about getting to know each other and making new friends.

However, in the second stage of the private dining room, it is necessary to clearly define one's own strengths and weaknesses and where one should be positioned.

If a CEO worth hundreds of millions insists on sitting at the same table as Ma Yun, Li Shufu, and Zhou Chengjian, he will most likely be kicked out of the private room.

At this moment, in the second-tier private room of Zhejiang businessmen, Zhang Yang once again became the focus of the dinner party due to his young age.

"Who is this little brother?"

"So young! Whose young master is he?"

"He's quite handsome."

Since it was all an act, Liu Hua naturally had to play along. She explained to the executives, "This is my cousin Zhang Yang. He's currently running a financial website in Shanghai. Please take good care of him."

"So you're Mr. Liu's cousin. It's a pleasure to meet you."

"A financial website, if this is done well, it will be incredible. If I remember correctly, Mr. Liu has been developing an off-exchange margin trading business for the past two years, right?"

"Mr. Liu, you guys are really bold. One of you runs a financial website, and the other runs off-exchange margin trading. You cousins ​​have made all the money."

"That's what wisdom is!"

Listening to the veiled meaning in the words of the CEOs, Zhang Yang smiled and said, "The entry threshold for off-exchange margin trading and financial websites is not high. Rather than wisdom, it's more accurate to say foresight."

When this sentence was uttered, the boss who had originally implied that Liu Hua was bold and involved in off-exchange margin trading, as well as the boss who had echoed him, all shut their mouths.

The statement "It's less about wisdom and more about vision" seems harmless, but it's actually a veiled criticism of their lack of foresight.

While secretly pleased, Liu Hua didn't forget to smooth things over, saying, "Let's eat. I heard the food here is especially fragrant and flavorful. I just tried it, and it's true."

"Eat, eat! Food is the most important thing for people," He Qiaonv echoed.

After the "secret battle" between Zhang Yang and Liu Hua came to nothing, Zhang Zetian, who was also young in the private room, became the subject of much discussion among the other bosses.

However, He Qiaonv, being a woman, was no pushover for being able to attend a dinner party hosted by the second tier of Zhejiang businessmen. She quickly retorted with a few words.

Dinner parties are like battlefields; some people just enjoy seeing others make fools of themselves, regardless of their status or position.

Moreover, it's impossible to avoid offending other business owners when doing business; if there's overlap in business, disputes are likely to arise.

……

The next day, early in the morning.

The penthouse presidential suite.

Since Zhang Yang chose to stay overnight at a hotel, the Kaiyuan Mingdu Hotel directly presented him with a room key for a presidential suite.

"8:49, it's so late."

Zhang Yang glanced at the time on his phone, then quickly got up and washed up.

At 10 o'clock later, I need to go to Alibaba's headquarters to discuss the details and sign the contract.

Five-star hotels like these usually have their own breakfast restaurants, which is extremely convenient.

While Zhang Yang was solving his basic needs, Ma Yun had already returned to Alibaba.

Yesterday, after the dinner with Zhejiang businessmen, he called the venture capital department and asked them to conduct a background check on Zhang Yang and Caiyan.com immediately.

In just one night, the documents were delivered to Ma Yun's desk.

"A recent graduate from Shanghai University of Finance and Economics, ranked first in his major for four consecutive years, and the student representative who spoke at the graduation ceremony..."

Caiyan.com didn't find much useful information, but Zhang Yang's information and experiences were thoroughly exposed.

To Ma Yun's surprise, Zhang Yang was actually from eastern Guangdong.

Since he is a businessman from eastern Guangdong, his entry into the Zhejiang businessmen's dinner party last night was already a violation of regulations.

However, Ma Yun did not care about background. After a brief introduction, he called Zhang Yong, who was then the chief operating officer of Taobao and general manager of Taobao Mall.

"Mr. Ma."

Zhang Yong greeted him.

He was a middle-aged man with side-swept bangs and black-rimmed glasses. Like other middle-aged men, he had a slightly balding forehead, which he tried to cover up with his long side-swept bangs.

"sit down."

Ma Yun, who was in the negotiation area, gestured for Zhang Yong to sit down.

After Zhang Yong took his seat, he got straight to the point: "Does the marketing department have any new plans for promotional activities to boost sales during the off-season?"

"We plan to increase subsidies and strive to reverse the off-season sales problem by the end of this year," Zhang Yong quickly responded.

"I have a promotional idea, can you evaluate its feasibility?"

"Mr. Ma, please speak."

As soon as Ma Yun finished speaking, Zhang Yong immediately perked up, his nerves on edge, fearing he might fall into her trap.

Serving a ruler is like serving a tiger; a slight misstep could very well result in being kicked out of the game.

"Here's the thing: I'm planning to launch a promotional campaign before the peak winter season this year to cultivate users' spending habits. I'll call it the E-commerce Shopping Festival. What do you think?"

Ma Yun looked at Zhang Yong expectantly, waiting for his answer.

"Before the peak season arrives?"

Zhang Yong wondered if he had misheard. Why hold a promotion during the peak season? Wouldn't that reduce sales during the off-season?

"Yes, see if it works for you."

Ma Yun nodded in confirmation.

He listened to most of Zhang Yang's suggestions last night, and he thought the idea of ​​"luring users in and then killing them" was excellent.

If Alibaba can cultivate users' online shopping habits and increase the number of people using online shopping, then its potential customer base will see a qualitative improvement.

Zhang Yong wasn't stupid, or rather, those who could reach high-level positions at Alibaba were all shrewd people. He could clearly sense that his boss wanted to implement this plan.

He wasn't Wei Zheng, so he wouldn't dare to contradict Ma Yun's ideas to her face. Besides, it was just an experiment, and there was no need to offend his own boss.

Zhang Yong gave a thumbs up and praised, "I think this idea is excellent. It not only increases sales during peak season but also cultivates users' online shopping habits. Moreover, e-commerce shopping festivals can serve as a memory anchor for Alibaba, attracting users to come and spend."

"You think it's good too, right?"

“Very good.” “Then you should think about which date to choose and designate it as an e-commerce shopping festival.”

"Let me see."

Zhang Yong took out his feature phone, opened this year's calendar, and checked it one by one.

After careful consideration, he responded, "November 7th is the Beginning of Winter, officially marking the start of winter. Warm clothing will sell like hotcakes for a short period, so why don't we choose that day?"

"No no no!"

Ma Yun waved her hand and analyzed, "The Beginning of Winter is a traditional Chinese solar term. Now we want to create a festival, so we must avoid solar terms and festivals, and make sure it is easy to pronounce and remember."

"Then November 11th, Double 11, is an easy date to remember."

As soon as Zhang Yong finished speaking, Ma Yun's eyes lit up, and she immediately decided, "That's it! The Double 11 online shopping festival is easy to remember and we can catch the peak online shopping season."

"Then I'll make the arrangements?"

"Go ahead and make arrangements as soon as possible."

"Okay, I'll go back to my department then."

After leaving Ma Yun's office, Zhang Yong immediately returned to the marketing department.

"Clap clap-"

As he entered the office area, he clapped his hands and shouted, "Listen up, everyone! Mr. Ma is going to hold an e-commerce shopping festival on November 11th. All group leaders and supervisors, please come to meeting room 06 in half an hour."

"Double 11 Shopping Festival?"

"What is Mr. Ma messing around with?"

"Shouldn't it be the end of December? Are they starting their year-end sales early?"

"can't read."

"It's okay if you don't understand. Don't try to guess what the CEO is thinking. Just do it."

The marketing department was abuzz with discussion, and none of the employees understood the significance of holding an e-commerce shopping festival on November 11th.

However, a boss is a boss. Even if he might be wrong, you can't argue with him because he can decide whether you stay or leave.

However, what these people don't know is that it is this year's "Double 11 Shopping Festival" that will elevate Alibaba to legendary status.

……

Shortly after.

The first floor of Alibaba's headquarters building.

The receptionist saw someone come in and quickly stood up to greet him, saying, "Hello sir, who are you looking for?"

"I'm looking for Mr. Ma."

"Mr. Ma?"

The moment Zhang Yang finished speaking, a look of surprise flashed across the receptionist's eyes, and she asked again, "Which Mr. Ma are you?"

“Mr. Ma Yun, I arranged to meet him at 10 o’clock. This is the business card he gave me yesterday.” Zhang Yang handed over the business card as “evidence.” The receptionist immediately remembered that Ma Yun had specifically reminded her that morning that an important client would be visiting.

"An important client...it's actually him?" The receptionist looked Zhang Yang up and down; he was too young.

Although she was extremely surprised, she quickly made a gesture of invitation and said, "This way, sir."

"Thank you."

Zhang Yang thanked them and then followed them into the elevator.

Ma Yun's office is on the top floor; this is an unspoken rule among the wealthy.

Because the top-floor offices offer a panoramic view of the entire area.

"Ding--"

The elevator door opens.

"this way please."

The receptionist led Zhang Yang through several corridors to the office door with a sign that read "Chairman's Office".

The office door was open, and the layout inside was clearly visible.

Ma Yun's office has a minimalist style, with her desk placed on one side of the floor-to-ceiling window and a white bookshelf behind her, which is filled with books.

"咚咚-"

The receptionist knocked on the door frame and announced, "Mr. Ma, Mr. Zhang has arrived."

"Young Brother Zhang, please come in."

Ma Yun warmly welcomed them.

He not only conducted a background check on Zhang Yang, but also watched the "discussion video" circulating online. He thought Zhang Yang was a genius, but he never expected him to be this genius.

Alibaba, or more accurately, all major internet companies, are always eager to recruit talent, and Zhang Yang is undoubtedly the one who can be that talent.

Good morning, Mr. Ma.

Zhang Yang greeted them.

Ma Yun's attitude made him vaguely guess that the other party had completed the background check and knew his background.

It doesn't matter, he's upright and has nothing to fear, let others investigate him however they want.

Good morning, please come in.

Ma Yun called out again.

The two moved together to the negotiation area. Since they had business to discuss, Zhang Yang closed the door behind him when he entered the office.

Ma Yun: "Sit down."

The two of them sat down one after another.

Zhang Yang didn't beat around the bush. He took out the documents he had prepared beforehand and handed them to Ma Yun, saying, "These are the various data from Caiyan.com. Please take a look, Ms. Ma."

"Let me see."

Ma Yun took the documents.

Upon seeing the seven-day retention rate and the website's launch date, he exclaimed in surprise, "Caiyan.com is only a website that's been around for less than twenty days?"

"32% retention rate after seven days? Such a high retention rate is rare. How did you achieve this?"

The moment those words were spoken, Zhang Yang understood the subtext: Ma Yun was clearly afraid that Zhang Yang was falsifying data.

"Yes, we are a startup company, but we specialize in our own areas. I personally handle things like financial research websites, such as briefings, morning reviews, closing reviews, and intraday alerts."

Zhang Yang remained composed and showed no sign of stage fright.

Holding the documents, Ma Yun glanced at the composed Zhang Yang and became even more convinced of the young man's value. Appreciating his talent, she said, "How about we don't sign the performance-based agreement? You can come to Alibaba and work for me. You can name your annual salary and stock incentives."

When he got home yesterday, he kept thinking about what Zhang Yang had said.

After seeing the background check information this morning, he knew that the other party was a rare genius, and Alibaba needed a leader in this field, so Ma Yun poached him directly.

"Mr. Ma, you're too kind." Zhang Yang smiled faintly and casually declined with an excuse: "I'm used to being lazy, and the rules and regulations of big companies are shackles to me."

"If you come to Alibaba, you can bring your entire team with you, and Alibaba will provide you with financial support."

Ma Yun persisted, arguing that Alibaba did need to expand into other businesses, and that it would be best to poach Zhang Yang to work for them.

"I appreciate Mr. Ma's kindness, but I still want to give it a try."

The moment Zhang Yang uttered those words, the possibility of poaching him was essentially over.

The word "闯闯" (chuǎngchuǎng, meaning "to venture forth") implies that Zhang Yang only wants to start his own business and will not give up until he hits a wall.

Upon hearing this, Ma Yun did not insist. Since Zhang Yang could not be used for her own purposes, she could only follow the rules.

"Wait a moment, I'll have an executive from the venture capital department come over. He'll liaise with you, and once the 'Earn Agreement' is signed, I'll personally go with you to the development department."

"Thank you, Mr. Ma."

"They are all partners."

……

Ma Yun made a phone call, and soon after, two robust men in their early thirties walked into the office. They first requested access to the backend of Caiyan.com, and after confirming that the data was not fabricated, they presented a "Voucher Agreement" that included monetary compensation, transfer of controlling stake, equity priority, and a repurchase mechanism.

The performance guarantee clause states that after the investor increases its capital by 5000 million yuan and holds 5% of the shares, Caiyan.com and its actual controller Zhang Yang promise that after this capital increase, Caiyan.com's audited net profit after deducting non-recurring items in 2010 will not be less than 5000 million yuan. If the corresponding standard is not met, a compensation mechanism will be triggered.

Compensation 1: Caiyan.com/actual controller shall compensate Alibaba with RMB 500 million, while the equity ratio remains unchanged.

Compensation 2: Caiyan.com/the actual controller agrees that Alibaba will continue to increase its capital or acquire equity at 50% of the initial purchase price.

In compensation 3, Alibaba will obtain priority rights such as priority in dividend distribution, priority in residual asset distribution, and disproportionate voting rights.

Compensation 4: Alibaba has the right to allow Caiyan.com/the actual controller to repurchase the shares held by Alibaba at a fixed price based on Alibaba's investment funds.

In addition to compensation, there are also agreed-upon rights, namely that Taobao and Alipay must open a traffic channel for Caiyan.com on their homepage and provide third-party payment technology support when users want to open a Caiyan.com VIP membership.

After reading the entire agreement, Zhang Yang realized that if Caiyan.com's net profit did not meet the target, he would not only lose money, but his company would also become a stepping stone for Alibaba.

That's how ruthless capital betting can be.

"There's a second contract."

Ma Yun gave a signal with her eyes.

Lin Sheng from the risk department then took out a "betting agreement" and placed it in front of Zhang Yang, saying, "Please take a look."

Zhang Yang picked up the second contract casually. The compensation mechanism was the same as the first contract, but the difference was the performance-based compensation. The net profit of 5000 million yuan in one year was changed to 1 million yuan in two years.

Should we choose one year or two years?
This is a question that requires deep thought.

After weighing the pros and cons, Zhang Yang said, "Let's sign the second performance-based agreement, with a net profit of 1 million over two years."

He knew that inflation was coming, and he also knew that two years later, at the end of 2011, smartphones would be very common.

He believes that by trading time for more room to maneuver, he can defeat Ma Yun.

Just as Zhang Yang was about to sign, Ma Yun suddenly grabbed his hand and said in a serious tone, "You need to think this through. If you sign this agreement, we will be partners. But if you bring your team to join Alibaba, we will be comrades-in-arms, and Alibaba's resources will be tilted towards you."

"I have thought it through."

Zhang Yang looked at Ma Yun with a determined gaze.

The moment the other party let go, Zhang Yang was the first to sign his name, and then filled in all the areas that needed to be filled in.

Seeing such a decisive and flamboyant attitude, Ma Yun couldn't help but sigh.

If the entire Caiyan.com team were to join Alibaba, their professional expertise would undoubtedly help Alibaba expand its reach.

But what a pity!
Zhang Yang was never cut out for working for others.

Besides, as a reborn individual with the advantage of information asymmetry, it would be laughable if word got out that he went to work for someone else.

……

With the contract signed, the "betting agreement" between Caiyan.com and Alibaba officially came into effect.

After Alibaba invests 5000 million yuan, it will not only need to open a traffic channel for Caiyan.com on the homepage of Taobao, Alipay, and smart mobile terminals, but also provide third-party payment technology support.

Caiyan.com, on the other hand, needs to achieve a net profit of 1 million Chinese yuan in its annual financial report two years later, in 2011.

If Alibaba breaches the agreement by failing to provide a traffic channel on its homepage and third-party payment technology support as required by the "Valuation and Performance Agreement," and after Caiyan.com sends three reminder letters (with a 7-day interval) without success, it may unilaterally terminate the "Valuation and Performance Agreement" and repurchase the shares of Caiyan.com held by Alibaba for 1 yuan.

If Caiyan.com fails to achieve a net profit of 1 million RMB within two years, Alibaba has the right to exercise all compensation clauses.

The signing of this "betting agreement" not only gave Caiyan.com an Alibaba background, but also allowed Zhang Yang to connect with Ma Yun.

The contract was made in triplicate, with one copy for Caiyan.com, one for Alibaba, and the third copy to be notarized.

Once the "betting agreement" was signed, Ma Yun fulfilled her promise and personally took Zhang Yang to the development department to make demands.

Because the group's big boss was present, all the programmers listened with extra attention.

Zhang Yang made three requests.

1. Traffic redirects must be placed below the search bar on the homepage, and the distance between them cannot exceed four subcategories.

2. The font is on a red background.

3. Eye-catching.

He had to capitalize on the massive influx of traffic from Taobao. Furthermore, with his Alibaba background, Zhang Yang could "look for a better opportunity while still employed" by seeking collaborations with advertising brands.

"Everyone heard that. Mr. Zhang has only three requests. Are you confident you can fulfill them?"

Ma Yun surveyed all the managers and employees in the development department and personally initiated the project.

"Have!"

"Don't worry, Mr. Ma, I guarantee Mr. Zhang will be satisfied!"

"Please rest assured, Mr. Ma and Mr. Zhang, we guarantee to complete the mission!"

The development team was full of fighting spirit. Ma Yun nodded in satisfaction and looked at Zhang Yang with a smile, saying, "President Zhang, it's a pleasure to cooperate with you."

"It's a pleasure to cooperate with you, Mr. Ma."

The two smiled at each other.

……

After resolving issues related to funding, exposure, endorsement, and payment, Zhang Yang did not linger at Alibaba's headquarters. Instead, he returned directly to the office of Caiyan.com in Shanghai to prepare materials for applying for a foreign exchange quota in the company's name to bid for "Buffett's Lunch".

The current price of this lunch has reached $204 million, which is equivalent to 1393.32 million Chinese yuan.

Although it's expensive, there's a reason for the high price; after all, it's Warren Buffett!

(End of this chapter)