Perfection of Rebirth

Chapter 178 Du Niang's Shares Acquired

On the second day after Jiang Hui met with Google, Du Niang also made an appointment for a second negotiation with Jiang Hui.

This time, it was Boss Li who came out in person, and Du Niang made an appointment with a conference room in a hotel in Zhongguancun and invited Jiang Hui to negotiate.In fact, Du Niang's headquarters is also in Zhongguancun, and there are a large number of meeting rooms available inside Du Niang, but in order not to upset Jiang Hui, Du Niang specially arranged a conference room outside as a place for negotiations.

Jiang Hui took Tang Wenwen and Xiang Weiwei to the negotiating site. If the predictions were good, a preliminary agreement should be reached today. He brought the experienced Tang Wenwen and Xiang Weiwei, the head of the legal department of Xiaonei. Some things that are not conducive to Guanghui Technology happened in the agreement.

Mr. Liu gave a brief introduction to everyone, and then gave the time to Jiang Hui and Boss Li.

Boss Li is also a legend. In 1968, he was born in an ordinary family in Xishan Province.When he was young, he was obsessed with opera and was admitted to the Jin Opera Troupe in the city.But in middle school, Boss Li returned to his "main business" and devoted himself to homework and study. In 1987, he entered Kyoto University to study library and information with the No.1 grade in the city.However, his excitement of stepping into the highest institution of learning in the Celestial Dynasty was gradually melted away by the boring and boring of library and information science.At that time, the atmosphere in the Celestial Dynasty was relatively dull, and it was already a very good choice to enter a government agency after graduating from university.But Boss Li chose to go abroad.

After graduating with a Ph.D., Boss Li worked on Wall Street for more than three years, and later worked for a famous search engine company in Silicon Valley for several years.During his days in Silicon Valley, what impressed Boss Li the most was the atmosphere of business warfare.He often reads the "Wall Street Journal": How Microsoft jumped out to openly rebel against IBM, and how it fought against SUN, Netscape, etc. as the godfather of software. These stories made Boss Li feel: "It turns out that technology itself is not the only decisive factor. , The business strategy is the real decisive factor.

So I set off to return to China in 1999, rented two rooms next to Kyoto University, together with 1 accountant, 5 technicians, and my partner, Boss Xu, a group of 8 people started to create Baidu.

Then, Du Niang successfully raised the first venture capital fund of 120 million US dollars.Nine months after its establishment, venture capitalists DFJ and IDG invested another US$9 million in Du Niang.

In 2001, Boss Li proposed at Du Niang’s board of directors that Du Niang would transform into an independent search engine website and launch a bidding ranking plan.Although this proposal went through many twists and turns, it was finally passed.Since then, Du Niang has embarked on a broad road of rapid development.

Jiang Hui still admired Boss Li. Although Du Niang's medical promotion advertisements caused a lot of controversy later, at least in 2004, Du Niang was still a very respectable company with a bright future for development.

"Boss Li, hello, I have admired your name for a long time, and I finally saw you in person today," Jiang Hui said with a smile.

"Mr. Jiang has won the award. You are the most influential person in the Internet industry in China recently. Whether it is Xiaonei.com or Guanghui Games, they have launched their own unique content and products, changing the style of domestic Internet imitation and plagiarism." Games such as "Happy Farm" set new records one after another, which is really awesome," said Boss Li.

"You can't compare with Boss Li. Whether it's Xiaonei or Brilliant Games, they rely on creativity to win, but Boss Li, Du Niang, which you founded, wins with technology. You are a master of technology in the Internet industry." Jiang Hui Said.

"Nowadays is a market economy, and technology alone is not enough. You see, whether it is Google, Yahoo, or our Du Niang, aren't they all eaten to death by Hao123, who occupies the market. Now to run a business, in the final analysis, The market has the final say, and in this regard, Mr. Jiang, your vision is stronger than ours," said Boss Li.

"It is true that the market has the final say. I also know the purpose of Mr. Li's meeting with me today, so I will not beat around the bush. Both Yahoo and Google have asked me to talk. Presumably Du Niang is the clearest about Hao123's ability to import traffic. , I am also willing to cooperate with Boss Li, but in business talk business, this cooperation must be based on the fact that Du Niang’s bid is higher than Google’s, it depends on what price you can accept,” Jiang Hui said.

"Mr. Jiang, in fact, I think the cooperation between the two parties cannot be simply judged from the price. It has something to do with the way of bidding and subsequent cooperation. You also told Mr. Liu last time that you hope to use the method of cash plus shares to negotiate. Du Niang fully agrees with your idea of ​​acquisition. However, I don’t think Yahoo and Google will be willing to sell their company’s shares. I know the virtues of these European and American companies best,” said Boss Li.

"Although cash plus shares is my preferred method, as long as the price is high enough, I don't ignore pure cash acquisitions," Jiang Hui said.

"Mr. Jiang, can you tell us about Google's current bid? We will try our best to give Mi a satisfactory offer," Boss Li said.

"I don't think it's very meaningful. It's unlikely that Bi Capital Du Niang will surpass Google. It depends on how your acquisition plan is proposed," Jiang Hui said.

"Mr. Jiang, as far as we know, you bought Hao123 for 2000 million and 4000% of Xiaonei shares. Our Du Niang is willing to use 123 million in cash plus [-]% of Du Niang's shares to acquire Hao[-]. At this price It is already very sincere. Du Niang’s current shares are simply not something that can be bought with money,” Boss Li said.

"As far as I know, the valuation of Du Niang by investment institutions is only about 15 billion. In this way, Du Niang is equivalent to spending only 123 to buy Hao[-]. I won't lie to you. This price is only the current price of Google Half of the asking price. Mr. Li, if you were in my position, who do you think the website should be sold to?" Jiang Hui said.

"Mr. Jiang, cash is dead, and shares are alive. You can't simply measure Du Niang's shares by 15 billion. Du Niang's board of directors is now seeking to go public on Nasdaq, and the market value will be far from the current 15 billion yuan. billions can be compared,” said Boss Li.

"You are right, but that is in the future, not now. Looking at it now, Du Niang's valuation is 15 billion. Even if I accept the premium, it will be at most 20 billion. Calculated in this way, Du Niang's asking price is much lower than Google. How about this, six points of Du Niang’s shares plus 4000 million in cash, equivalent to Du Niang’s 123 million acquisition of Hso[-]. This price is only equivalent to Google’s current offer. If I want, Google can at least offer a price of two billion," Jiang Hui said.

In Boss Li's opinion, Jiang Hui's asking price is not insincere. Although the website may not be worth so much money, but the market price is so high, if Du Niang wants to buy it, it can't be too low.

……

Boss Li talked with Jiang Hui for a while, and finally the two parties agreed to use Du Niang to invest 4000 million in cash plus 5.00% of Du Niang’s shares to purchase 123% of Hao90.00’s nine shares. Other companies have a better position in the navigation site wall.

(End of this chapter)