I'm a chaebol in South Korea

Chapter 142 Xiao Zha's Desire to Control
'Drink the strongest wine, ride the wildest horse: conquer the wild horse, make her submit to the big brother's crotch. '

'Relying on superb skills and strong waist strength, the wild horse yearning for freedom succumbed to the strength of the big brother. '

'Issuing rewards: Keen insight. '

Compared with the lipstick mark left on the neck, the reward for two hours of practice is really fragrant.

'Keep insight: have stronger observation ability and keen insight, see through the surface to get the truth. '

The reward is a bit like 'facial literacy,' observing the target through micro-expressions, body language and subtle emotional changes.

Li Zhenyu can see through a person's true feelings and thoughts, "Is this an alternative version of mind reading?" '

Claire didn't know that he was distracted again, and walked around him to make sure there were no flaws.

Under her urging, the three of them walked towards the stairs, and the long corridor was divided into rooms on both sides.

Under the soft carpet, the boards made a 'creak' echo.

There were melancholy voices coming from the doors on both sides, which made Li Zhenyu's smile even more unrestrained.

It turned out that Xiao Zha was also a big player.

"Mark." In a room covered with red carpets, the two saw Zuckerberg playing Super Mario.

"Hi, Claire." Putting down the handle, Xiao Zha looked at Li Zhenyu and said, "Is this your boss?"

"Li Zhenyu, from the most powerful family in South Korea, he himself is a business genius."

Just like Li Zhenyu would get information from the participants, Xiao Zha also did his homework.

His background, Quanzhou Li's influence in South Korea, his personal career and his actions on Wall Street.

It also includes that he himself is the major shareholder behind Universal Investment.

Zhao was just a puppet he pushed to the front of the stage.

"Welcome, Zhao." He raised his hand in greeting, and Xiao Zha asked them to sit down casually.

All the sofas on site were replaced with chairs and sofas with more fashionable elements.

Li Zhenyu chose a 'palm-shaped' chair and sat down, "Zach, how much money are you going to ask for this financing, and how many shares can you take out?"

Facebook’s angel round took place in 04, Peter Thiel and Reid Hoffman angels invested $50, accounting for 10% of the equity.

The A round was in 05, and this time Facebook got 1270 million.

In the B round in April 06, Facebook received 4 million, with a valuation of over 2750 million US dollars.

Round C is now.

In October 07, Microsoft invested 10 million US dollars, accounting for 2.4% of the equity, and Facebook was valued at more than 1.6 billion US dollars.

In November, Li Bancheng invested 11 million US dollars, accounting for 6000% of the equity.

In early 08, European Founders Fund invested 1500 million US dollars.

In March, Li Bancheng added an additional US$3 million, and his shareholding ratio rose to 6000%.

If Claire's news is correct, after the financing ends tomorrow, the C round will end here.

Whether there will be a D round before the IPO is still unknown.

The development of Facebook is too fast, and the speed of burning money is directly proportional to the development.

The faster the development, the faster the money is burned.

No one dares to assert that this money can last until Facebook goes public...

Now that he had asked, Zach also told him the conditions straight to the point.

This time, he will take out 1.2 percent of Class A shares with a reserve price of US$2.4 million.

The amount of investment is equivalent to that of Microsoft, but the shareholding ratio is vastly different.

It was less than 8 months before and after, and Li Bancheng was on a business trip.

Facebook's valuation has risen so fast that it is modest to say that it is a rocket ride.

Moreover, this is only the base price, and the real price must be higher than 2.4 million.

As for the so-called Class A shares, here we have to mention Facebook's unique dual-level shareholding structure.

During the financing period, the equity issued is divided into two types: A/B, which have the same rights, but the voting ratio is different.

Normally, each share held by a shareholder can be counted as 1 vote, and as many shares as there are shares can be counted as many votes.

However, the dual-class shareholding structure amplifies this right infinitely.

The voting rights of Class A shares remain unchanged, and they still enjoy the rights they deserve.

The voting rights of class B shares can be enlarged by 10 times on this basis, and each vote per share is calculated as 10 votes.

Simply put, ten 1 percent Class A shareholders together have the same number of votes as one 1 percent Class B shareholder.

In addition, in order to ensure absolute control over the company, co-founder Sean Parker came up with an idea to add a proxy agreement for voting rights to the dual-level shareholding structure.

All investment institutions and individuals must sign this agreement with Facebook before listing.

Its core content is to agree to authorize Zach to vote on behalf of the shares held by shareholders in 'certain' specific occasions where shareholder votes are required.

This agreement completely guarantees Zac's absolute control, even if his personal shareholding ratio drops to 1%, only the voting rights held by proxy.

Inside Facebook, he still has strong influence and decision-making power.

"All those who are here today are invited?"

"No, only you...and a few others."

This panting made Li Zhenyu almost agitated.

"Only Class A shares, no Class B?"

"Class B shares are only issued to the founder team, or outstanding contributors who participate in the company's operations."

Zach told him in a tactful way, 'No way. '

The emergence of Class B shares was originally to ensure his absolute control over the company.

It can be said that from the very beginning, it was tailor-made for him personally.

How could a release be issued?
In his cognition, no one should raise such doubts in front of him.

Class B shares?

That's my private plot, my...

"Outstanding contribution, I thought only the founder team could get it."

Li Zhenyu smiled thoughtfully, as if he really had the idea of ​​class B shares.

This made Zach unhappy, and the look at Claire also conveyed this dissatisfaction.

Claire smiled bitterly in her heart, as the referrer, it was not her fault.

Besides, since there is an A/B distinction, why can't others even ask a question.

This young man was too petty and domineering.

Claire's impression of him also dropped a bit.

Entrepreneurs who thought they could change the future will be very different from ordinary people.

just now……

She just wanted to say 'everyone is equal before money. '

No one is more noble than anyone else, and no one is more hypocritical. Everyone is trying their best to play their roles well, hoping to get a share of the action.

At this time, Li Zhenyu's thoughtful eyes were full of concentration, and he also noticed that something was wrong with Xiao Zha.

"Sorry, I suddenly thought of an interesting thing... Zach, do you like hunting?"

Li Zhenyu laughed loudly and brought the topic to hunting.

He didn't say anything about what he said just now, as if he had never thought about class B shares at all.

Before seeing Zach's expression, Li Zhenyu had already made a decision.

INS, the idea of ​​Instagram, it’s better to keep it for yourself.

Xiao Zha is an unfamiliar white wolf, and he really wants to tell him the idea of ​​INS, get B-class shares and become a major shareholder of Facebook.

Maybe one day when he turned around, Xiao Zha would stab his back full of knives.

Li Zhenyu didn't want to be an old general on the stage, so he babbled and fell to the ground.

If INS and Twitter are combined, what kind of chemical reaction will be produced, this idea makes him secretly excited.

Text and photo sharing, and then add the innovation of short video...

Will the era of Facebook's hegemony still come?
……

PS: Thank you for the reward from the book lovers of the Spring and Autumn Period, thank you!

(End of this chapter)