Chapter 260 Taking the blame
Xiong Xiaoge was stunned for a moment after receiving Qin Shaoyan’s call, and asked: “Where did YouTube get the $240 million?”
“YouTube has just confirmed that Xinyi A round of financing, valued at US$1.2 billion, releasing 20% of the equity. "Qin Shaoyan replied, "Now it has the funds to acquire Qvod.com"
Xiong Xiaoge frowned and asked: "But. I heard that YouTube is going to be sold?"
"Who did you hear that?" Qin Shaoyan was stunned for a moment.
Although a lot of news about YouTube has been released before, the negotiations with Yahoo and Google are commercial secrets, and the two parties will not disclose them to the outside world until an agreement is reached.
"It's the news from Yahoo." Xiong Xiaoge replied, "It is said that the acquisition amount has reached one billion U.S. dollars."
"..." Qin Shaoyan was a little confused, Yahoo is now so Hungry?
He didn’t even sign the letter of intent, and he started blowing it as soon as he wrote the horoscope.
Qin Shaoyan said with some displeasure: "The people at Yahoo have no professional ethics. Can you talk about this kind of thing casually?!"
"So, the news about Yahoo's acquisition of YouTube is true?" Xiong Xiaoge asked curiously.
"We just conducted negotiations. The two parties did not sign the acquisition agreement, so it cannot be regarded as being sold." Qin Shaoyan said righteously, "YouTube has only made diversified attempts to raise funds. That’s it, the acquisition negotiation is just a plan and does not represent the final result.”
Xiong Xiaoge doesn’t care at all whether YouTube is going to be sold. He only cares about whether YouTube has enough funds to acquire Qvod.com. .
“Which investment company did you look for for this financing?”
“It’s Vanguard Group and BlackRock Fund.” Qin Shaoyan replied, “They are very generous and they are very optimistic about the value of YouTube. There is also a very correct understanding, and we are happy to cooperate with investors with business acumen. ”
Your way of talking about being taken advantage of is quite refreshing and refined.
Xiong Xiaoge knew that the second half of Qin Shaoyan's sentence was a nod to himself. He sneered, "Two hundred and forty million dollars may not be enough."
"How do I remember the CEO of YouTube at the time? David Banks was talking about US$360 million.”
“It is indeed US$360 million,” Qin Shaoyan did not deny, “but this is the price after the completion of IDG’s second round of financing. "
Xiong Xiaoge was stunned for a moment, and he quickly understood what Qin Shaoyan meant.
Qin Shaoyan is willing to let them get on the bus at a price of US$240 million, and at the same time ensures that the valuation will be raised after they get on the bus.
Xiong Xiaoge thought for a while and asked a key question directly: "YouTube does not have enough funds."
"If the funds are not enough, you can refinance." Qin Shaoyan replied, "Anyway, YouTube has succeeded. Once, the capital market will believe it is successful the second time.”
“In short, it’s just a show for others to watch,” Xiong Xiaoge said sarcastically.
“If the acquisition negotiations are real, the funds are real, and the acquisition intention is real, then it is real.” Qin Shaoyan said seriously, “Whether to sell or not depends on the shareholders’ judgment of the market prospects. , and personal choice.”
"After all, every investor has different ideas and faces different situations."
"Some venture capital investors know that a certain project is very promising, but they have to sell it, for example IDG invests in Penguin.”
“Mr. Xiong, do you have a deep understanding?”
Xiong Xiaoge’s face turned dark at that time. Qin Shaoyan, you are going too far. What example do you use? I'll give you an example.
“The capital market doesn’t care about acting or not, they only know that Qvod.com is worth so much money.” Qin Shaoyan continued, “YouTube is willing to spend real money to pay for it, even if they don’t believe it. Letter.”
"And I am no longer the major shareholder of YouTube. Will this be more convincing?"
Xiong Xiaoge remained silent and did not speak.
Qin Shaoyan added another sentence, "Mr. Xiong, this is not the first time we have cooperated. Do you have any worries?"
"I am worried about what will happen to Qvod after getting in the car. Screw it?”
“Then we can sign a gambling agreement. If the valuation of Qvod.com does not increase, I will buy back your shares for US$240 million. , or simply sell Kuaibo.com, and everyone will happily take the money and break up.”
"The gambling agreement is not necessary." Xiong Xiaoge sighed, "You just need to convince other investors."
"Mr. Hou of Dachen Venture Capital has already stated that they will not participate in the second round of investment. , ready to sell his shares to SoftBank to cash out."
"SoftBank." Qin Shaoyan was happy when he heard this, "It's okay for SoftBank to join. This means that Qvod.com has a better future."
Xiong Xiaoge coldly said nothing. The impression of SoftBank in China's Internet industry is that it throws money everywhere. No matter what project, SoftBank can get an investment from SoftBank.
“Mr.
"The spring of video websites is coming soon, and there will definitely be a large number of competitors."
"I got this financing to cope with the next competitive situation and rely on my financial advantage. Burning money to kick out its rivals will make Kuaibo the leader in China.”
“As long as Kuaibo has a firm foothold in the Internet video market, its valuation will not take off.”
Xiong Xiaoge sighed. He had to admit that Qin Shaoyan's judgment on the Internet market was correct.
Because of the stimulation of previous acquisition news, the domestic Internet is already ready to move, and everyone is eyeing the blank market of video websites.
Coupled with the rapid development of YouTube, there is no way for those hungry capital to sit still with the pearls and jade in front.
In the future, it is certain that all the domestic video websites will emerge together, and it will be a matter of who can fight it out.
However, Qvod.com will definitely not be a loser. Qin Shaoyan has already reserved funds in advance and has also obtained the "Information Network Audiovisual Program Dissemination License."
Coupled with the first-mover advantage, the only suspense for Qvod.com is its stock price after its listing.
"Then I'll be waiting for your good news." Xiong Xiaoge said lightly.
"It won't take long." Qin Shaoyan assured confidently.
……
YouTube reached an agreement with Vanguard Group and BlackRock Foundation, and both parties quickly signed a letter of intent for investment.
But this matter is not over yet, because YouTube still has one more important thing to do.
That's how to explain to Yahoo that YouTube is canceling acquisition negotiations.
Although shopping malls are like battlefields, business reputation still needs to be emphasized.
As website CEO David Banks had a troubled face, he looked at several shareholders with speechless eyes.
Especially Qin Shaoyan, the major shareholder, you have already negotiated with the CEO face to face to acquire YouTube for one billion dollars. As a result, he changed his mind and regretted it the next day. Isn’t this a bit too fast?
Microsoft's Davis comforted: "It doesn't matter, this kind of thing is normal. Hasn't Yahoo done similar things?"
This kind of thing is indeed very common. It's like changing your mind after making an agreement, not to mention regretting it the next day. There are many examples of what was said in the morning and then doesn't count in the afternoon.
But this is all done by the people below. It is rare for a big boss to not respect martial ethics.
David Banks sighed. Although he is the CEO, he has to do this kind of work.
Anyway, Yahoo itself has done this kind of thing. Now it is a boomerang, and retribution has come to itself.
Before David Banks called, Qin Shaoyan stopped him.
Qin Shaoyan looked at Davis and said slowly: "No, you have to come forward in this matter, Davis."
Davis was surprised, "Why me?"
“Before YouTube acquired Kuaibo Network, the negotiations went very smoothly, but in the end they were cancelled.” Qin Shaoyan said seriously, “Now the acquisition negotiations between YouTube and Yahoo are also going very smoothly, and it is normal for them to be unexpectedly canceled. "
Davis was stunned for a moment, then his eyes lit up and he said with a smile: "I think Mr. Steve Bowman will not approve of YouTube being sold to Yahoo, so we I can only end this acquisition negotiation with regret.”
If Steve Bowman can ruin the negotiation for YouTube’s acquisition of Qvod.com, wouldn’t it be normal for him to ruin another acquisition negotiation?
Qin Shaoyan kept in mind the last stabbing in the back, and he was obsessed with Steve Bowman's troubles, and was always ready to repay him.
This pot is very suitable for him now.
Qin Shaoyan said appreciatively, "Actually, I admire people like Steve Bowman who work hard for the interests of the company."
Davis gloated: "I appreciate it too. Appreciate it. "
Steve Bowman not only disrupted the acquisition negotiations, but also colluded with Davis's enemies, which is even more sinful.
Davis then devoted himself to work with great enthusiasm, proposing multiple investment plans in the company, but not surprisingly, they were all opposed by his opponents.
This includes YouTube's financing plan and acquisition plan. Of course, Davis's opponents may just be habitually opposed, but this is exactly what Davis wants.
As a result, Yahoo CEO Jerry Yang received an apology notice from YouTube. Due to certain shareholder factors, the acquisition was canceled. We regret the inconvenience caused.
Jerry Yang was confused at the time. Yahoo had made a lot of preparations for the acquisition of YouTube, including all kinds of news, public opinion and online advertising.
As a result, you said you canceled it now?
Jerry Yang is a little anxious. Now there is publicity that Yahoo is going to acquire YouTube. The stock price has started to rise recently. But you said it was cancelled? !
How do I explain to the board of directors?
How do I explain to shareholders?
How do I explain to the capital market?
What will happen to Yahoo’s stock price when the news of the cancellation of the acquisition spreads?
If it doesn’t work well, it could lead to losses of more than one billion or billions!
It’s like it’s time to get the certificate, the wedding banquet has been prepared, and relatives and friends have been notified.
In the end, you said you were not going to get married, and the reason was unclear, even if you wanted to add more betrothal gifts temporarily.
Now it’s not about losing face, but about actually causing a lot of losses.
It has always been Yahoo that lets others off their backs, but today someone made a fool of themselves and I can’t bear to be so angry.
Yang Zhiyuan decided that he had to ask for an explanation, so he personally called Qin Shaoyan and asked him why he went back on his word.
Qin Shaoyan said with emotion, "Mr. Yang, I'm sorry for you, brother, this matter is beyond my control now."
"What happened?" Yang Zhiyuan was angry asked, "You have to give me a reason! Is YouTube still for sale?"
"I want to sell it." Qin Shaoyan said very sincerely, "But some people don't want me to sell it. "
"Mr. Yang, let me tell you something. Originally, this matter was our internal business secret, but since you asked me, I have to expose my family scandal to you. ”
"There was a problem with YouTube's acquisition of China Kuaibo Network. The two parties were originally waiting to sign, but Microsoft, one of YouTube's shareholders, suddenly exerted force and blocked the acquisition plan."
"If YouTube cannot go smoothly If we acquire Kuaibo.com, then the value of YouTube will be difficult to match the price offered by Yahoo.”
“I am also considering the interests of Yahoo. Otherwise, when Yahoo acquires YouTube, I will find that the facts are different from what I have said before. If it's different, then Yahoo will suffer even greater losses."
"Microsoft?" Yang Zhiyuan became even more angry, "What does this have to do with them?"
"It's a subordinate of Microsoft. Department MSNVideo, they want to acquire YouTube at a low level," Qin Shaoyan replied, "Now that the matter is over, I can only say that I have tried my best."
What kind of bullshit reason is this?
Zhiyuan Yang was so angry that he almost yelled, "MSNVideo is a toad that wants to eat swan meat. If you can't afford the money to acquire it, why should you stop me from acquiring it?"
He doesn’t care whether YouTube can successfully acquire Kuaibo.com. It would be fine for Yahoo to spend one billion alone to buy YouTube.
Of course, it would not look good on both Yahoo and Microsoft if this kind of thing breaks out, and it is impossible for the two companies to openly quarrel.
However, Jerry Yang was not willing to swallow this breath. He directly called Bill Gates and denounced Microsoft's actions that harmed others and did not benefit himself.
Bill Gates was asked inexplicably by Jerry Yang. It was originally something done by a subordinate department, and he was completely unaware of it.
Although he is the CEO of Microsoft, it is impossible for him to know everything.
Bill Gates comforted Jerry Yang with a few words, saying that he would investigate the situation first and then give Yahoo a reply.
Jerry Yang said that if Microsoft can't give an explanation, then don't blame us for breaking up and making the matter known to everyone.
Bill Gates quickly called the relevant parties over. As the person taking the blame, Steve Bowman was completely confused.
It was him who sabotaged the acquisitions of YouTube and Qvod, but it was not him who did YouTube and Yahoo.
Seeing that his boss was in a bad mood, Steve Bowman naturally strongly denied it, claiming that the incident had nothing to do with him.
However, another party involved, Davis, appeared and roped in YouTube CEO David Banks as a witness.
Now that it has been proven that Qvod’s acquisition plan was artificially sabotaged, there is no need to look for any more evidence regarding YouTube and Yahoo.
Bill Gates is not a judge and needs to see the evidence. He was very angry and asked Mr. Steve Bowman to take the blame and resign, and left Microsoft smoothly.
But things have reached this point, and it is no longer possible for Yahoo to acquire YouTube.
Vanguard Group and BlackRock did not raise funds to sell the website. They also wanted to make YouTube public.
(End of this chapter)