Chapter 282 Google
It participated in the restructuring of nearly 6 billion US dollars of debt, involving more than 500 companies, more than 200 creditor banks, and more than 1,000 trade creditors, and attracted the attention of the global capital market.
In December 2000, "Guangdong" successfully realized debt restructuring, with an average debt reduction rate of 42.78%.
After the restructuring, the total assets are approximately 48.3 billion Hong Kong dollars, the total liabilities are approximately 33.9 billion Hong Kong dollars, and the asset-liability ratio is 67%. It was rated as the "Best Restructuring Deal in Asia" in 2001 by the "International Financial Review" and considered It is the largest and most complex debt restructuring in Asia's history.
“At that time, Goldman Sachs was also the main party responsible for the restructuring, and one of the main persons in charge of Goldman Sachs was Liu Zhiping. Being able to participate in such a complex and lengthy restructuring case can greatly enhance the company’s investment, M&A and reorganization capabilities," Jiang Xiaoyang said.
Xu Liang responded with approval, "It is indeed good to let Liu Zhiping serve as the person in charge of the Jupiter 2 Fund, but if we want to attract outstanding people to join, we must also provide very favorable conditions, even shares."
"I know this. I plan to get in touch with him first. If he is really good, I will recruit him. The conditions will be similar to Sister Xu." Jiang Xiaoyang said.
Xu Liang responded.
Hanhua Capital currently has two recruitment methods.
One type is Xu Xin and Liu Zhiping, who are good at raising funds and investing, and are commonly known as partners.
The other is an ordinary manager. You don’t have to worry about fundraising or investment. You are only responsible for post-investment management.
The former has shares and a 20% dividend after the fund makes profits; the latter has very little dividends except salary.
Xu Liang continued: "By the way, when the Phoenix Fund's fundraising is completed, I will withdraw the US$300 million."
"Take away, why?"
< br>"Of course it is to clarify the rights and responsibilities. Hanhua Capital is not just my company. You and Sister Xu all have shares. Although it is not much, the capital transactions must be clear, otherwise it will infringe on the interests of others.
You may not care, but Sister Xu is different, and if we can recruit Liu Zhiping, we must also consider the other party's ideas.
Therefore, management, especially fund management, must be formal.
But don’t worry, I won’t take out the US$300 million from Hanhua Capital, but put it into the Jupiter 1 Fund. It is still placed in Hanhua's name, and it is regarded as the money invested by Hongyan Fund in Hanhua. ”
Jiang Xiaoyang did not refute.
When an enterprise develops to a certain level, unclear rights and responsibilities are a taboo.
This is also the reason why many family-owned businesses fail to grow or even go bankrupt.
"If you want Hanhua to formalize its management, I won't stop you. But your previous investment of US$100 million in Hanhua must also be reflected in the equity."
What Jiang Xiaoyang means Very understandable.
Xu Liang invested US$100 million. If Hanhua's total assets increased, her equity and Xu Xin's equity would be reduced accordingly.
"I have no objection. You can discuss it with Xu Xin and the others and decide on the equity share."
"Okay."
"One more thing. Let Zhao Xun be responsible for the management of the Jupiter 1 Fund and the acquisition of the NBA Rockets. From now on, the Jupiter 1 Fund will be under my direct jurisdiction, and Zhao Xun will be responsible for daily Management.”
“No problem.”
After talking about work and some personal matters with Jiang Xiaoyang, Xu Liang hung up the phone.
At the same time, I called Zhao Xun and told him about the job change, and asked him to bring people to Silicon Valley to complete Netflix's due diligence and allocate investment.
Count Netflix.
Jupiter No. 1 Fund already has three shares.
Penguin 32%, Alibaba 10%, and Netflix 10%.
"Mr. Xu, I heard from the real estate company that the office building you are interested in has a usable area of 4,500 square meters and a selling price of US$5 million. If you rent it, the price is US$32,000 per month."
"It's not expensive."
Nasdaq's cold winter not only brought down many Internet companies, but also many venture capital institutions.
House prices throughout Silicon Valley have also fallen.
“Contact the other party and ask Hanhua Capital to allocate money to buy the house.”
“Yes.”
Both Hanhua Capital and Red Rock Fund need an American the foothold.
The next day, Zhao Xun came to San Francisco with his secretary and an investment team from the company.
Looking at Xu Liang who personally greeted him at the airport, Zhao Xun hurriedly greeted him.
"Mr. Xu."
After stepping forward and patting his shoulder, he comforted: "Are you tired?"
"It's okay."
After all, Zhao Xun still couldn't hide his fatigue on his face.
Not everyone has a naturally strong physical fitness like Xu Liang and can resist jet lag.
"Let's go, get in the car."
Everyone got into the car one after another and drove towards the hotel.
“Did Xiaoyang tell you about the work adjustment?”
"I said it."
"What are your personal opinions?"
"I listen to Mr. Xu." Zhao Xun said immediately.
Xu Liang nodded slightly, "Jupiter No. 1 Fund is my most important business. I don't trust it if I leave it to others. I can only let you work harder."
Feeling the words of the big boss Zhao Xun couldn't help but be moved by his trust in Quanquan.
"Don't worry, I will do my best to live up to your trust."
After Xu Liang nodded, "I believe you."
After a pause, he continued.
“There are three main things for you to come to the United States this time.
First, do Netflix’s due diligence. Just leave this matter to your team.
< br>
Second, set up the US team of Hanhua Capital. I have already found the place for you, and you can just be responsible for recruiting people.
Third, after so much research on the Rockets’ acquisition in the early stage, it’s time to make a move. "
"Understood. "
"Okay, when you get back to the hotel, you have a rest first, and then you can work again. "
"Yes. ”
After Zhao Xun arrived, Xu Liang put all the affairs of Hanhua's San Francisco branch in his charge.
He finally breathed a sigh of relief. "It's time to pay a visit."
Xu Liang said.
——
In Mountain View, Silicon Valley, there is a company that has made a name for itself.
Although it is still in its infancy, it has successfully turned a profit and achieved a net profit of US$8 million.
Looking at the huge Google logo on the wall, Xu Liangliang felt a little more nervous and expectant.
As a search engine, his biggest concern is Google.
Worried about not being able to beat the opponent.
As the saying goes, if you can't beat it, join it.
He wants to give it a try and buy it if he can't beat it.
No matter whether he can succeed or not, he wants to try it.
Once successful, it will be able to unify the global search market. The temptation is too great.
Even though he knew it was unlikely, he still came.
The car stopped, and when Xu Liang got out, he immediately saw the people waiting in front of the office building.
The other party was wearing a crisp suit and gold-rimmed glasses.
Looking at this outfit, you will know that it is neither Sergey Brin nor Larry Page. A man from science and engineering would never dress like this.
Xu Liang walked over.
The other party also took the initiative to greet him.
"Eric Schmidt, CEO of Google, welcomes Mr. Xu to visit our Google."
"Thank you. ...By the way, Mr. Schmidt. Are Mr. Brin and Mr. Page not here?" ?”
“I’m very sorry, Brin and Page were temporarily busy and couldn’t come over.”
Eric Schmidt sounded helpless.
These two new bosses are very capable, but they also have frustrating quirks.
What surprised him the most was that the two refused to be assigned assistants or secretaries by the company.
The reason is that they don’t want to be puppets of work and be dominated by work plans, they want freedom.
So I often miss the company’s internal meetings.
Later, in order to improve this problem, Google developed Google Calendar, and the two of them would write down the things they wanted to do on the calendar.
Because Google Calendar is shared by all company executives, they can also see the work schedules of two people, and then arrange work according to their time.
But two turbulent souls played a hide-and-seek game with Google executives again.
Everyone arrived at the scheduled work, but after waiting all morning, the two founders were nowhere to be seen, which made people confused and affected Google's work efficiency.
Had it not been for their excellent technology and their ability to seize Yahoo's ladder, whether Google would have achieved its status is another matter.
However, Xu Liang didn’t understand the quirks of the two people, thought he had been neglected, and no longer had any hope in this negotiation.
“Mr. Rauschmidt, please take me to visit your company.”
"Of course, please come in."
"Please."
Under the leadership of the other party, Xu Liang walked into Google.
After a quick tour, it is indeed as rumored that the working atmosphere at Google is very free.
The number of people is about three hundred.
Taking into account the branches, Google's current total number of employees should be between five and six hundred.
After knowing what was going on, we came to the reception room.
"Mr. Xu, how does Google compare to your Hongmeng?"
Eric Schmidt smiled.
“It’s a lot worse.” Xu Liang said directly, looking at the frowning Eric Schmidt, “We have many businesses at Hongmeng, and the search business is only one of them, so Mr. Schmidt should put Google Comparing it with Bing is fairer to you.”
Schmidt nodded slightly.
He admitted that what Xu Liang said made sense.
Hongmeng is one of the companies that Google is currently paying most attention to.
Because their Internet search business is a replica of Google.
More importantly, they relied on their strong technical capabilities to break into the Japanese market, and when they wanted to sweep the world, they discovered that Bing was really deeply rooted in Japan.
More than 90% of Japanese websites, large and small, use the search services provided by Bing.
And in order to deter latecomers, high liquidated damages were set in the contract.
Google has no choice but to spend money to advertise on major websites.
But the damn Japanese seem to have identified Bing. No matter how hard Google tries, the user growth rate is simply not worth the advertising investment.
That’s not all.
Well-funded, Bing spread like wildfire across Europe.
And the growth rate is very fast.
Google also had to brace itself to compete with each other.
However, Google is just a search engine, and the other party is fighting in a group.
You can use game revenue to balance the losses caused by Bing's money burning.
But Google can't keep up with this.
However, Google already has the English market in its hands. With the revenue from the Five Eyes alliance, it is enough to support a world search giant. The turnaround in 2001 is evidence of this.
So it has gradually gained the ability to spend money and fight.
This is also the reason why Xu Liang wants to come over and try to acquire it.
This is the last chance.
If it doesn't work this time, we will be a relentless enemy from now on.
(End of this chapter)