Chapter 164 Big Cake
Samseong-dong, Gangnam-gu, outside Bongeun Park.
The brand new seven-seater Mercedes-Benz turned the intersection and drove towards the Tiffany Hotel.
In the back seat of the car, An Rusong crossed his legs, reading the newspaper in his hand and smoking a cigarette leisurely.
The newspaper in his hand is today's "Korea Ilbo", and what An Rusong is looking at is the financial section of the newspaper. The headline on the front page is the reported NGN Company's relationship with the American German company. Financing cooperation agreement reached between Fengjie Venture Capital and Apple.
According to this agreement, DFJ will invest US$50 million in NGN Company in exchange for 20% of the company's dividend equity. At the same time, Apple will also invest US$12.5 million in NGN Company in exchange for the company's Five percent of dividend stock equity.
In addition to the investment and financing agreement, NGN Company will also cooperate with Apple to achieve compatibility of NGN software with Apple systems. In public information, NGN Company has promised to make NGN compatible with Apple systems. The software will be officially launched at the end of next month, and the mobile version of the NGN software will be officially launched before the end of the year.
In addition, also in this public information, NGN Company announced that the number of registered users of the Korean version of NGN software has exceeded 11 million, while the number of registered users of the Japanese version has exceeded 14 million. In addition, the English version of NGN, which was launched not long ago, has more than 2 million registered users in Southeast Asia.
In the next stage, NGN Company will be oriented internationally and focus its development on the English version of NGN. At the same time, it will not give up its development in the Korean market.
On the page of the newspaper report, there was also a photo of An Rusong shaking hands with DFJ and Apple representatives. Unfortunately, the photo was in black and white and could not fully demonstrate his handsomeness.
To be honest, there have been many Internet companies born in South Korea in recent years, but NGN is the only company that can quickly increase its market value to hundreds of millions of dollars. Most of the other Internet companies are developing small applications and making small profits. It’s about money, or it’s mainly about making games.
Therefore, the emergence of NGN company will naturally attract the attention of many parties, including the official.
Yesterday afternoon, An Rusong received a call from the Cultural Content Promotion Agency. The other party asked about the development details of NGN Company in the past period and learned about its future development plans, and then asked Whether he needs any policy support, whether he needs policy loans, etc., he is always very enthusiastic about NGN.
In fact, the nature of NGN Company does not match the scope of the Cultural Content Promotion Agency, but having said that, if someone insists on arguing, the two sides cannot be said to be unrelated. Of course, this is not a bad thing for NGN Company and An Rusong himself, so he was also very polite to the Institute of Technology.
However, An Rusong did not accept things such as policy loans. Although these loans were indeed low-interest, if you want to get them, you need to pay a certain price. The most important thing is The current president of South Korea is Roh. His political stance is sharply opposed to Congressman Kong and others, and the confrontation is getting more and more serious.
Also, when is it now? It’s already the end of 2007, how long can Mr. Lu remain in office? It's only been more than two months. An Rusong doesn't want to be labeled as a progressive at this time, and then suffer suppression from conservatives in the next nearly ten years.
We support conservatives, long live the Grand National Party! This is An Rusong's political stance.
However, now that the news that NGN has received capital injections from DFJ and Apple has spread, in addition to the official initial reaction, An Rusong’s “online” people, that is, Congressman Kong, will naturally also He will respond. Now, he is going to the appointment, to attend the appointment of Councilor Kong.
In addition to Councilor Kong, he had to go to another appointment in the evening, a meeting arranged by Kim Kang-min on the phone.
The meeting place agreed upon by Councilor Kong was at the Tiffany Hotel. He didn’t know the specific room yet, because someone would pick him up when he arrived at the hotel’s underground parking lot.
An Rusong knows very well that in the eyes of many people, today's NGN company is just a huge and delicious cake, with a valuation of nearly US$300 million and an infinite possible future. Who can not covet it? To put it bluntly, if you enter the market now and get a few percent of the equity, you may get hundreds of millions of dollars in return in the future. This is a very safe deal. But An Rusong is not worried at all about this situation surrounded by alligators, because today's NGN does not belong to him alone, but to three parties. In the eyes of those predators, An Rusong may be just a little Kalami and nothing, but whether it is Delfunjie or Apple, it is not something that ordinary people can handle.
To put it bluntly, if DFJ or Apple are angered, even if they are not the top companies in the United States, they will do something in anger. Not one or a few so-called Korean congressmen can handle these news.
To be honest, An Rusong’s first round of financing was actually very hasty. The most beneficial choice for him would be to wait until the “Photo Wall” application was launched and generated positive feedback. After that, choose the first round of financing. By that time, the valuation of NGN company will be greater, and the investment and corresponding resources he can get will be more generous.
So, why did he do everything in such a hurry? The answer is actually very simple. It is because he is worried that his NGN will be targeted by others and attract a group of crocodiles to snatch it.
Why did An Rusong suspect that the valuation information disclosed by SoftBank Asia was malicious? The basis is here. To be honest, if SoftBank Asia had not exposed their valuation of NGN, An Rusong would not have been so eager to launch the first round of financing. The starting point was because this valuation was After being exposed, some powerful parties will definitely notice him.
Don’t talk about South Korea being a country ruled by law, how democratic South Korea’s society is, how humane the business environment is, etc. It’s useless to say that. It’s not that An Rusong is extreme, at least he is Believe one thing: As long as there is power, there will be no real fairness and no real rule of law.
So, when news about NGN Company appeared in the newspapers, he couldn’t wait to raise the first round of financing, thus bringing DFJ and Apple into his circle of interests.
From now on, no matter who covets the shares of NGN Company, he can push it to DFJ and Apple, because according to the financing agreement signed by the three parties, in the second round of NGN Company During the financing, DFJ and Apple enjoyed limited rights under the same conditions.
What does this mean?
It’s very simple. The current equity structure of NGN Company is divided into four parts: An Rusong, as the founder and actual operator of the company, holds 70% of the equity. At the same time, according to the equity distribution principle of different rights for the same shares , Defengjie Company controls 20% of the dividend-paying shares and 2% of the decision-making power; Apple holds 5% of the dividend stock equity and 0.5% of the decision-making power; as the third largest shareholder, Han Meiyan controls the company in the form of personal shareholding 5% dividend stock equity and 0.5% decision-making power.
Finally, the company's incentive equity pool contains 5% of the company's dividend equity and does not have decision-making power.
To be honest, when the investment agreement was signed, both DFJ and Apple were very dissatisfied with the existence of Han Meiyan as an individual shareholder. According to their ideas, they actually wanted to kick Han Meiyan out. Out. Not counting DFJ or Apple, they were willing to pay a large premium to redeem the 5% dividend stock equity in her hand, but in the end, their requests were blocked by An Rusong, and The reason he gave was that Han Meiyan was an important investor in the early days of NGN.
The investors in the early stages of the company’s founding meant they were the earliest investors. Taking into account the first-come-first-served basis, DFJ and Apple could still barely accept each other’s existence, but with the investment agreement Finally signed, if other investors want to join later, they must get the approval of DFJ and Apple.
Why? Couldn't An Rusong take some of his own shares and give them to new investors?
The answer is, no, because of the existence of the different rights agreement for the same shares, the shares in An Rusong's hands cannot be sold casually. Every bit of equity he sells must be approved by DFJ and Apple. Moreover, once he wants to sell his shares, the latter two companies have the right to redeem them first and deal with the price offered by third-party investors, which is higher than the price offered by them.
These complex agreement terms certainly restricted the flow of equity in An Rusong's hands, but at the same time, they also avoided a lot of trouble for him.
Just like those who want to take advantage of him, he can use these agreements as a shield to push them to DFJ or Apple.
What, you want to buy NGN shares from him at a low price? Haha, let's first ask DFJ and Apple if they agree. If those guys who rely on power can open a gap from DFJ or Apple and take advantage of them, An Rusong would rather He lost some shares and went out, because anyone who can do this is definitely worth buying with the equity of NGN Company.
In the underground parking lot of Tiffany Hotel, the seven-seater Mercedes-Benz parked in a parking space in Area C3 as agreed. Almost at the moment the car stopped, a young man in a black suit trotted over. , opened the car door for An Rusong.
(End of this chapter)