Rebirth of the big era of online games

Chapter 220 Retreating to Goose Factory's Second Largest Shareholder
According to the valuation given by Fang Jie when he took over Tencent, Tencent was valued at US$1600 million.

Counting the rapid development in the past few months, the number of users has increased greatly, and at most a story of 2000 million US dollars can be told.

But MIH was valued at 6000 million U.S. dollars as soon as he opened his mouth!
When other people raise funds, they want to underestimate the valuation and take more shares, but this company is good, directly shouting higher, and even calling out a sky-high valuation that cannot be ignored.

If you look at it in future generations, MIH is a company with a vicious vision and took advantage of it.

But at this moment, except for Fang Jie, all the people who heard the news agreed that this company just had stupid people and a lot of money, otherwise there would be no other reasonable explanation.

Recently, Tencent has burned out the money again.

This is still burned under the subsidy of the sales commission of the mobile phone recharge card channel.

I was planning to find a big boss to continue financing, but MIH, a big local tycoon, rushed up and expressed his willingness to spend a lot of money.

As for the company's future business development recently, Fang Jie, who previously stated that he would not interfere with the company's management, has strongly intervened in the company's daily affairs in order to promote "Wulin".

Although everyone did not express any objection and knew that this matter was good for Tencent, there were still some criticisms in private.

Not to mention dissatisfaction, but a little bit of displeasure and worry. After all, Fang Jie broke his promise. This time he can interfere with the company's operations. If there is the first time, there must be a second time. Isn't it the relevant agreement signed before? A dead letter?
This makes some of the company's management very insecure.

You must know that the founders of Brother Xiao Ma have only graduated from university for two or three years. They are young and ambitious. Whenever they face Fang Jie, who is younger than them, there is a feeling Sheng Yu and He Shengliang's feelings.

It would be fine if MIH didn't mess in, and everyone didn't think too much about it.

If MIH entered in disorder and did not take the initiative to estimate the valuation to 6000 million, saying that it would be the largest shareholder, and that it would only receive dividends in the future and not participate in any management of the company, everyone would also refuse without hesitation.

But after so many coincidences and factors happened to come together, this matter had to be brought to the table.

From the perspective of Tencent, the valuation suddenly increased to 6000 million US dollars, which is equivalent to giving them free money!
In fact, the same is true for Fang Jie.

He also invested less than 200 million US dollars, plus a domain name and 51wan. The actual value is estimated to be less than a fraction of the valuation proposed by others.

If it is really calculated based on a valuation of 6000 million US dollars, even if he retreats to the second largest shareholder, gives up absolute control, and only retains 34% of the "one-vote veto" shares, then the market value of his shares will exceed 2000 million US dollars. It's blood money!

In particular, they want to become the largest shareholder.

Then according to the company's current share capital structure and the valuation of 6000 million US dollars given by the other party, MIH has to spend at least more than 2000 million US dollars in real money to acquire shares, otherwise it is definitely not the largest shareholder if the shares are less than 33%.

And with this more than 2000 million US dollars of liquidity, Tencent, which is living a tight life, is tantamount to being resurrected with full blood, and has even become a "blood cow" to fight against the war.

Even if you don't look at it from the perspective of the company's future development, but only from a personal perspective, everyone is willing.

You have to know that at this moment, the monthly salary that Xiao Ma gave himself is only 2500 yuan, which is not as good as the employees of Boiling Games.

The monthly salary of the other founders was halved, only 1250 yuan. Life is miserable. If they can get this money, the poor days will be gone forever!
Therefore, MIH financing must be discussed, and it is best to talk about success.

Of course, if Fang Jie, the current big boss, is willing to further invest in financing, not to mention giving Tencent a valuation of 6000 million, a valuation of 3000 million is also fine.

But this is obviously impossible.

For the first two days, Fang Jie was still complacent, thinking that he was earning more than 100 million a day anyway, but now the comparison made him depressed in an instant—poor, no money!

Even if he had money, he didn't want to throw money in it anymore.

The reason why I absolutely controlled Tencent at the beginning was mainly because Tencent was worthless at the time, and I got an absolute controlling stake by throwing out something casually.

The second is to control the initial development direction, quickly accumulate users, and lay out network channels in advance to lay the foundation for your own boiling game and prevent the other party from taking detours.

In fact, according to Fang Jie's original idea, he didn't intend to become the big boss of Tencent, because he couldn't afford the time and energy, and he didn't want to be too prominent. It's just that Tencent didn't live up to it at the time, and only a little wealth made him take advantage of it.

In fact, he only needs to maintain more than 34% of the shares. With the "one-vote veto power", he can still control the direction of the company. It is not much different from the current absolute holding, and even has more benefits.

At least he doesn't need to personally approve and sign some important decisions and legal documents of the company, which saves a lot of trouble, especially once MIH becomes the largest shareholder, he can still get a share of the pie.

So when a group of Tencent management came to him, Fang Jie agreed to MIH's financing plan without hesitation.

However, how to design the equity structure after financing requires careful consideration.

As soon as Fang Jie agreed, MIH found Yingke Digital on the same day and took all 4.69% of the shares held by the other party.

In this regard, Yingke Digital is simply overjoyed.

At the beginning, they invested US$110 million to take up 20% of the shares, and almost lost their money. Later, Fang Jie bought 30% of the shares at a price of US$15, and only kept 5%, which was subsequently reduced to 4.69%.

This was originally just a capital preservation operation, and at the same time, I wanted to wait and see again, but after half a year of waiting and watching, Tencent was still burning money, it was still a bottomless pit, and there was still no profitable future in sight.

But this time, MIH, who took advantage of it, directly offered 6000 million US dollars at a valuation of 281.4 million to buy their shares, so they would have to offer up all the shares!

Calculated in this way, ha, if you invest 110 million US dollars, you can earn back 1 million US dollars in less than a year.

Well, so, when you treat others as idiots, you are often the biggest idiot yourself.

For example, Yingke Digital now thinks that MIH is a big idiot, and he is a smart investor, so he took money out of the game without hesitation.

Fang Jie didn't want to be a big fool, so he first asked Xiao Ma and other Tencent founders for their opinions, and encouraged them to take more shares and sell them.

As a result, the poor and crazy founders immediately stated that among the 26.25% of the shares, they only planned to retain 10% of the shares, and the rest were all given to MIH, and the money in exchange was used to improve their lives.

Then, MIH paid another US$975 million and took up the shares given up by Tencent's management, and the shareholding ratio has reached 20.94%.

Next, it was Fang Jie's turn. He currently holds 69.06% of the shares, which means that his shareholding ratio must drop below 45% before MIH can become the largest shareholder.

Without even thinking about it, Fang Jie directly threw out his shareholding plan: "Then I will keep 44.99% of the shares."

Well, as long as your MIH holds more than 45% of the shares, you are the largest shareholder. There is nothing wrong with it. We will not sell any more, and we are not stupid.

(End of this chapter)