Chapter 264 Shareholder Representative
The next day, Xiong Xiaoge invited SoftBank Asia President Yan Yan and Qin Shaoyan to meet at the IDG headquarters.
Yan Yan looked at the young man opposite him with curiosity and prudence. Like many Internet entrepreneurs he had seen, he was young, confident and full of energy.
However, Yan Yan still felt a different temperament from the other person. Unlike other entrepreneurs who met for the first time, this Qin Shaoyan could not see any restraint, uneasiness and nervousness.
Does it seem like you have a plan in mind, or is it because you are born with a bigger heart?
Other entrepreneurs are more or less uncomfortable when facing investors, and many things they say are unreasonable.
Of course, there are many people who boast. In this era of Internet entrepreneurship, there is always no shortage of talents from all walks of life.
Soon Yan Yan attributed Qin Shaoyan's calm performance to the confidence brought by success. After all, the entrepreneur in front of him was the boss of China's largest social networking site.
Campus Network is one of the most famous Internet companies in the past two years. It created the first Internet SNS acquaintance social networking site, even earlier than Facebook.
After its establishment, the valuation of the website expanded rapidly, like a rocket.
Moreover, the campus network is also making big moves one after another. The last Global International Marathon jointly organized with Facebook performed very well.
Using the official influence, promoting it in major cities in the country, and cooperating with a series of online publicity, the number of registered users of the campus network has shown explosive growth.
Now the CEO of Campus Network is also the founder and major shareholder of the first online video website in China.
The concept of video websites has suddenly become popular recently, due to the news that YouTube was acquired, which caused a lot of noise in the United States.
Although no one knows who YouTube was sold to in the end, the capital market is keenly aware that the valuation of this website, which was founded only half a year ago, is constantly rising.
Yahoo even offered a billion-dollar acquisition price to acquire YouTube.
Google was not to be outdone and launched an open battle with Yahoo.
When YouTube was being snapped up, domestic investors also set their sights on Qvod.com.
Kuaibo.com is called the Chinese version of YouTube, and naturally it is given the same expectations.
The next increase in the valuation of Qvod.com seems to be a matter of course.
Yan Yan was invited to join the game, so he naturally conducted some research on Qvod.com and compared it with YouTube.
Of course Yan Yan doesn’t understand how video websites develop. He mainly studies the people behind Qvod.com.
He was going to take a good look today to see what was unique about this young man who had been praised by Xiong Xiaoge.
Xiong Xiaoge sat on the main seat and said with a smile: "You always complained before that you often asked me to do things for you. This time there is a good project, and I specially asked you to participate together, so that you don't blame me. "
Yan Yan laughed and scolded: "It's a good thing that you, Xiong Xiaoge, can still think of me. The sun is shining in the west. "
Xiong Xiaoge smiled and said, "Old Yan, it's very unreasonable of me to say that. Haven't I brought you many projects to make you rich?"
You have led me into many pitfalls.
Of course, Yan Yan was just talking casually. The two of them have worked together for many years and are very familiar with each other.
Investment is a matter of mutual consent, and there is no question of who is cheating the other.
Yan Yan said lightly: "Do you have anything to say this time?"
Xiong Xiaoge made a gesture and introduced the other party: "Old Yan, I have invited you to the big boss behind Qvod."
"By the way, let me tell you, this Qin Shaoyan, Mr. Qin, is not only He is the person in charge of Qvod.com and the founder and major shareholder of YouTube. "
"He was responsible for everything from the design of the YouTube website to the early activity planning, including this acquisition."
"Huh?!" Yan Yan was very surprised and looked at Qin Shaoyan's young face in front of him.
There is no way to connect a series of things about YouTube with the person in front of me.
"Hello, Mr. Yan." Qin Shaoyan shook hands with the other party with a smile and sat on the sofa opposite.
Xiong Xiaoge asked directly: "Old Yan, now there is an opportunity for you to vote for Kuaibo.com, will you vote?"
Yan Yan frowned and looked at Xiong Xiaoge, "No. You said YouTube wants to acquire Kuaibo.com, and you asked me to invest in it. What do you mean?” Use Kuaibo.com to increase YouTube's valuation. "
"We, the shareholders of Kuaibo.com, all believe that Kuaibo.com has great potential and selling the website is short-sighted. "
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Yan Yan quickly understood the meaning of this, "That is to say, Kuaibo.com is not for sale."
"Yes." Qin Shaoyan nodded and said directly, "The video website will definitely become a The most popular project of China Internet, Lenovo Investment is already incubating a similar project.” If Bowang can develop better, we decided to start the second round of financing."
Yan Yan thought for a while and asked: "What is your valuation?"
"Two hundred and forty million. Ten thousand dollars." Qin Shaoyan said directly.
"It's too high." Yan Yan refused without hesitation.
“Not high.” Xiong Xiaoge interjected, “YouTube raised US$240 million this time, which was prepared for the acquisition of Kuaibo.com. This valuation is very reasonable.”
Yan Yan thought for a while, "Then this valuation is just right. You pulled me into the car just to fill the capital hole?"
Xiong Xiaoge laughed and scolded: "The older you get in the world, the less courageous you become. I will follow you. You said, there are benefits this time."
"What benefits?" Yan Yan asked.
"This financing of Kuaibo.com is a secret financing, and there will be a big increase in valuation after that." Xiong Xiaoge said with a smile, "How about it, do you want to invest or not?"
"This estimate How much is the big increase?" Yan Yan continued to ask, "How long?"
"Half a year."
“Do I have to wait half a year?”
“With any luck, three months will do.” Qin Shaoyan added, “The increase is 50%.”
Yan Yan continued to ask, "How can you guarantee it?"
Xiong Xiaoge interjected: "YouTube urgently needs to acquire Qvod.com, because Bill Gates has been coveting YouTube for a long time, and it may be launched soon. Acquired.”
“In order to sell it at a good price, the fastest and easiest way for YouTube to increase its value is to acquire Qvod.com”
Yan Yan sneered. "Could it be that if Kuaibo.com offers a price of US$360 million, YouTube can also be purchased?"
"It should be possible." Qin Shaoyan said confidently.
Xiong Xiaoge nodded, "The last time YouTube came to acquire it, it also offered this price, but the negotiations were unexpectedly interrupted before the two parties could reach an agreement."
Yan Yan was stunned for a moment when he heard this. I thought there was such a thing.
He pondered for a moment, "Even if YouTube is really willing to pay the price of US$360 million, it will be difficult for Qvod.com to be convincing enough to match this value now, because you have no intention of selling it at all. "
Qin Shaoyan said as he took out two licenses and pushed them in front of Yan Yan, "We have these two licenses. They are the only ones among the video websites. This is what YouTube values. "
Yan Yan glanced at the copy of the permit, his face became serious, and he began to think.
Xiong Xiaoge struck while the iron was hot, "Old Yan, why are you hesitating? This time our IDG also voted, you can't say that I cheated you."
Yan Yan slowly said: "These are two different things, I'm here Before making a decision, I have a few questions to ask Qin Shaoyan, Mr. Qin."
Qin Shaoyan sat up straight, "Please tell me."
Yan Yan asked: "What is the future of the video website? "
"Video websites are a necessity for the Internet." Qin Shaoyan showed a confident smile, "There is value if there is a need. There is no doubt about the future of video websites."
"What explanation do you need?" Yan Yan then asked.
“With the development of human society, the storage carriers for information are constantly changing, from paper, film, floppy disks, hard disks, and optical discs.” Qin Shaoyan replied without hesitation, “There are so many preservation methods, but there are only four categories in terms of classification. Category, text, picture, audio, video. ”
“As a new carrier of information, the Internet can also be divided into text, picture, and audio based on the classification of hundreds of websites over the years. Only images are missing.”
“The emergence of video websites has filled the gap in this field, allowing the Internet to form a complete information carrier function.”
Yan Yan was a little surprised by Qin Shaoyan’s explanation. After thinking about it for a while, I felt that what the other party said made sense. From this aspect, video websites are indeed a necessity for the Internet.
Yan Yan thought for a while and asked his second question: "How do video websites make money?" "The first is advertising revenue." Qin Shaoyan immediately gave the answer, "With the development of video websites, sooner or later it will replace TV programs . ”
“China’s TV stations mainly rely on advertising to make money, and video websites can also make money.”
“The second income is membership fees. We can learn from the United States. Pay TV channel approach. "
"Provide members with more high-quality video content and let users pay for the content."
"The third income is copyright income. In addition to advertising and membership, our video website will also set up a special subsidiary to invest in the production of movies and TV series."
Yan Yan nodded slowly, "Members and Advertising, this business model is very mature."
"But is it too hasty to get involved in the production of film and television dramas? You are an Internet company and don't understand the film and television drama industry."
"We already have. We are contacting professionals to join, and if possible, we will acquire one or two film and television companies." Qin Shaoyan replied, "In addition, the film and television companies will handle the funding themselves and will not ask the parent company to provide blood."
Yan. Yan was a little surprised, "Solve it on your own?"
"Yes, the subsidiary will sell part of its shares to raise funds by itself." Qin Shaoyan nodded, "Qvod.com will invest in shares with its platform resources and channels."
"In this case, I have no problem." Yan Yan Looking at Xiong Xiaoge, "Xiong Xiaoge, I will believe you just once."
Xiong Xiaoge laughed and said, "Old Yan, I will ensure that you make a profit this time."
Qin Shaoyan also smiled. , "Happy cooperation, Mr. Yan."
……
After knowing the inside story, Yan Yan acted vigorously and resolutely.
SoftBank first took over the shares of Dachen Chuang, and then participated in Qvod’s Series B financing together with IDG, Sequoia Capital, and Capital Today.
With the addition of Qvod.com, after the five companies signed, Xiong Xiaoge felt half relieved.
The rest is waiting for someone from YouTube to restart acquisition negotiations.
A few days later, YouTube’s negotiation team arrived in Beijing on time.
This time not only YouTube CEO David Banks, but other shareholders Sequoia, Vanguard, and BlackRock also sent representatives.
So the number of people in the negotiation team this time is more than double that before.
In order to show the importance it attaches to acquisition negotiations and to facilitate negotiations, Qvod.com specially rented a hotel as the negotiation location.
Because the conference room on the campus network really can’t accommodate these people.
On the day of the negotiation, a large number of reporters were waiting at the door of the hotel early, squatting with microphones and cameras in ready position.
At nine o'clock in the morning, the motorcade carrying the YouTube team slowly stopped in front of the hotel.
David Banks and his group had just gotten out of the car, and before they could see where the hotel door was, a group of people gathered around them.
“Crack, click, click!” The flash of white flash almost blinded David Banks. Before he could recover, dozens of black and thick microphones were pointed at his mouth.
“Are you a representative of the YouTube website?”
“Is YouTube planning to acquire China’s Qvod Network?”
"Is it true that there are rumors on the Internet that YouTube will be acquired for 2 billion?"
"Is YouTube acquired by Yahoo?"
A series of questions confused David Banks. His assistant quickly stepped forward to separate the reporters, trying to open a passage through the crowd.
David Banks quickly came to his senses and became as energetic as if he had been given a shot of chicken blood.
It’s a good thing that a reporter is covering you!
When there is publicity, there is visibility, and when there is visibility, it is helpful to increase valuation.
If time had not allowed, David Banks would have wanted to hold a press conference on the spot and have a good chat with these reporters.
While walking towards the hotel, David Banks did not forget to respond to reporters through an interpreter.
“YouTube is currently not acquired by Yahoo.”
“We are very much looking forward to cooperating with Qvod.com, which is beneficial to both parties.”
"The details of the negotiations are commercial secrets and are not disclosed. We will announce them to the media later."
The hotel's security guards appeared at the right time, squeezed a way through the group of reporters, and pulled David Banks and his party away. Welcomed into the hotel.
Edward waited in the hotel lobby early. When he saw David Banks, he immediately went up to him and introduced himself to him.
"I am the vice president of TNB, president of Greater China, and plenipotentiary representative in China. If YouTube encounters any problems in the acquisition that require TNB's authorization, you can contact me directly."
David Banks took Edward's business card and was stunned for a moment before he remembered that TNB was one of the shareholders of YouTube.
Mr. Edward appears to be participating in the takeover negotiations as a shareholder representative.
David Banks immediately smiled and shook hands with Edward enthusiastically.
After chatting for a while, Edward led everyone upstairs and straight to the conference room.
In the conference room, Qvod Network also had a complete lineup.
In addition to Qin Shaoyan, the founder and majority shareholder, there were also several senior executives present.
Shareholder representatives Xiong Xiaoge from IDG, Yan Yan from SoftBank, Zheng Nan from Sequoia, and Xu Xin from Capital Today were all present.
In addition, there is a taciturn middle-aged man sitting behind Qin Shaoyan.
This middle-aged man looks very impressive. He is wearing a suit and leather shoes and carrying a leather briefcase. He looks very stylish.
Before Zhang Pingyi could ask Qin Shaoyan about this person’s background, the YouTube team had already entered the venue.
The two sides exchanged warm greetings as usual, introduced several important figures, and then started negotiations according to the camps.
David Banks took out the information, said a few words about the bright prospects for cooperation, and wished the negotiations a complete success, and then got to the point.
The YouTube team held the information provided by Qvod.com and inquired about the number of registered users, growth curve, daily active people, playback volume and other indicators.
Different from the last friendly conversation, this time the YouTube representative was a bit more aggressive, constantly questioning the information provided by Qvod.com.
The atmosphere of the meeting quickly became tense. After Qin Shaoyan listened to a few words, he directly interrupted the other person's speech.
"There are so many people sitting here today, not because they want to listen to these boring nonsense, but let us improve our efficiency." Qin Shaoyan said lightly, "Keep it simple."
"How much are you willing to pay to acquire Qvod.com?"
David Banks hesitated for a moment and looked at shareholder representative Davis, who nodded to him.
“One hundred and seventy million U.S. dollars.”
Quavo.com was in an uproar. Why did they change their minds again? The price was not at this price last time.
Qin Shaoyan smiled and said, "This is different from what we agreed. In this case, I don't think you are sincere, so let's stop talking."
Davis took over the conversation and said immediately: "Mr. Qin, don't get excited. This is how things are in business. Negotiation is about bargaining. If you think the price is not suitable, you can raise it."
Qin Shaoyan Shen Taking a deep look at Davis, "I know you have just completed financing."
"NO! NO!" Davis shook his head, "Although we have just raised US$240 million, this is All the money cannot be used for acquisitions, we also need funds to maintain the operation of the website."
Qin Shaoyan smiled, looked at Xiong Xiaoge, and winked at him.
Xiong Xiaoge looked at his nose, his nose and his heart. He sat there motionless. It seemed that he was not going to speak anymore.
Qin Shaoyan coughed helplessly, and the middle-aged man sitting behind him suddenly spoke: "The price offered by YouTube CEO Mr. David Banks last time was US$360 million. Why don't we start with this price?" Right."
Davis was stunned for a moment, "Who are you?"
"One of the shareholders of Qvod.com, a representative of Chao Nengli Co., Ltd."
(End of Chapter)