Back To 1995

   Chapter 485 Eventful Autumn

  Aaron Swartz reported to Song Yang the performance of PayPal after its launch. Now PayPal is about to become the payment channel of the mainstream e-commerce platform in America.

Compared with payment channels such as mailboxes, bank cards, and credit cards, PayPal is much more convenient and fast. Just open a PayPal account, and then transfer the US knife to the PayPal account. Blood is also the place where the Bank of Alliances waits to jump!

America's e-commerce industry is still breaking out. In a report on America's e-commerce industry released this year, it is claimed that the revenue of America's B2B e-commerce market this year will be as high as $600 billion. It's enough to listen to the stuff, if you really believe it, it's over.

   However, compared with overseas regions, the e-commerce industry that has just begun to emerge, eBay, Amazon, and other e-commerce platforms in America, have already begun to generate revenue.

   "If PayPal can dominate the e-commerce industry in America, then PayPal will be able to get $5.3 billion in transactions in the e-commerce industry next quarter!"

Aaron Swartz said that after eBay entered the e-commerce industry, it quickly estimated the B2C industry, that is, Amazon, eBay, and the future Taobao, Goudong and other industries, and now the e-commerce transaction volume in a quarter, At around US$5 billion, America's e-commerce revenue scale for the whole year is almost more than US$20 billion!

   "At present, PayPal's revenue, in addition to the e-commerce industry, comes from users' daily transfers, cross-border transactions, Enron Online, etc. Among them, Enron Online accounts for about 30% of PayPal's daily turnover!"

  PayPal can perform so vigorously, and it is inseparable from the support of Enron Online. The energy transaction of Enron Online is very active, and it has contributed a lot of transaction volume to PayPal.

   "In the next step, PayPal hopes to cooperate with airlines, railways, hotels and other industries such as Federal Airlines and Pacific Railroad to become their payment channels for online ordering!"

Aaron Swartz said that the main thing PayPal does now is to attract more people, let more people use PayPal, and then cooperate with more industries to make PayPal their online payment channel, even if necessary , PayPal doesn't mind sending its own development engineers to help airlines, railways, hotels, cinemas and other industries develop their own online official websites and the like!

  Song Yang listened to the reports from Aaron Swartz and a group of PayPal executives. After PayPal was launched, it has indeed made great strides, users continued to pour in, and the daily turnover continued to increase.

   "How much does PayPal lose every day now?"

After listening to these reports, Song Yang asked directly, PayPal, which seems to be very popular, is now a loser. Lots of knives.

   "From the launch of PayPal to the present, PayPal has lost more than 20 million US dollars. In the future, with the increase in the cost of acquiring new users, coupled with advertising investment, etc., before October this year, PayPal is expected to lose more than 100 million US dollars!"

   The treasurer in charge of PayPal got up at this time and said, Greg, who was attending the meeting together, was stunned for a while before he recovered.

  PayPal would lose money, Gleek had thought, after all ICQ, America Telecom, Alcatel mobile phones, etc., were all losing money when they were first launched, but PayPal could lose so much, which Gleek did not expect.

  Greck looked at Song Yang, Song Yang didn't seem surprised that PayPal lost so much, or he was mentally prepared.

Song Yang glanced at the treasurer and motioned him to continue talking. Seeing Song Yang's gaze, the treasurer turned on the projector and released a PPT, "Now PayPal's PMMF money fund has higher interest than bank deposits, which makes a lot of investment. Institutions, all began to deposit US knives in PMMF funds!"

Looking at the PPT on the projection, even if Greg doesn't know much about finance, it can be seen that the income of the PMMF fund is not proportional to the expenditure. In order to reduce the risk, the PMMF fund can only buy low-risk products such as federal government bonds, but pay for it. The interest to the user is higher than that of the bank.

In this way, PayPal has become the existence of the wool that has been smashed. "If the scale of the PMMF fund continues to expand, then PayPal will not only be unable to obtain income from the PMMF fund, but will have to bear management fees, interest, etc., and lose money every year. More than ten million dollars or more!"

   "The interest rate of the PMMF fund cannot be reduced, at least not now. We must continue to increase the interest rate and attract more users to put the US knife on the PayPal platform!"

Song Yang said directly, the PMMF fund is the biggest bargaining chip in PayPal's hands, and it will definitely be reconciled with Goldman Sachs, Citigroup and other institutions in the future. At that time, the PMMF fund will be Song Yang's side, and it will be able to support PayPal. Biggest chip ever.

   Hearing Song Yang's words, Aaron Swartz and a group of other executives all looked at each other, wondering what Song Yang was trying to play, and he was happy to let PayPal lose money!

   "Song, there are some situations in Silicon Valley now. Several companies have announced the launch of their own electronic payment brands, including payment brands such as dotBank, Billpoint, X.com..."

  Aaron Swartz's last sentence caught Song Yang's attention, and he raised his brows. Song Yang did not expect that Brother Xiao Ma would come out, "X.com payment company?"

Seeing that Song Yang seemed very interested in X.com, Aaron Swartz took out the prepared materials and flipped through it, "The founder of X.com is the founder of Zip2 in Silicon Valley, which is a company Silicon Valley's online content publishing company founded by... the Musk brothers!"

After listening to Song Yang, he finally knew what Zip2 was doing. It was a model of Dianping and Gaode maps, putting a store on the website, and then giving the address navigation to guide users to the store. To put it bluntly, it was also selling advertisements. .

   "Silicon Valley...Iron Man?" Song Yang couldn't help laughing and whispering after hearing the name.

"iron Man?"

Aaron Swartz and the other executives all listened with a dazed look. They didn't know how this had anything to do with Marvel. Besides, if I really wanted to talk about the Iron Man in Silicon Valley, it had to be Song Yang who was currently in the office. ? !

Now there are many media in America, who regard Song Yang as the original Howard Hughes, the man who once led the trend of America's generation. He is the prototype of Iron Man, and Song Yang is considered by many media. It's the Howard Hughes of the Internet!

   "There are rumors that Zip2 is negotiating with Compaq Computer and is seeking an acquisition deal. It is rumored that Compaq Computer has offered a purchase price of 300 million US dollars for Zip2!"

   "X.com is likely to be one of PayPal's opponents." Aaron Swartz said cautiously.

In the past few years in Silicon Valley, every few weeks, there will be lucky people. There is no doubt that Zip2 has become the new lucky person. After the acquisition, Musk, the founder, will be worth more than ten million dollars. As for the big head, it must be taken away by venture capital firms, which is also the norm in Silicon Valley.

Those VCs, like hyenas, will find one Internet startup after another, like Zip2, give millions of dollars, get a controlling stake in Zip2, then package and promote it, and sell it to the company. Take the money and leave. As for the founder, a Silicon Valley "rookie" like Musk is powerless to resist, and the equity has long been divided. When he finally leaves the market, he can get tens of millions of dollars, which is not bad. .

Aaron Swartz is still a bit afraid of X.com. Other payment brands are obviously to join in the fun, but the founder of X.com is familiar with Internet routines, and if he sells Zip2, he can If you get a US dollar, it is really possible to challenge PayPal.

But it's just a little bit uneasy. Aaron Swartz doesn't think that this X.com payment company, and the boss behind it, can compete with PayPal, no other than the boss, PayPal's current big gold Lord, the tens of billions of dollars worth of knives are worth not crushing each other?

   When Song Yang heard Musk's name, he paid attention to it and made Aaron Swartz stare at him a little bit, but now PayPal's opponent is not X.com, but the traditional banks.

   "Continue to promote PayPal, not only in America, but also in overseas markets. This year, PayPal will cover the global mainstream market."

  Song Yang got up and looked at Aaron Swartz and others, "Where there is the Internet, there must be PayPal. I need to make PayPal synonymous with online payment!"

   After Aaron Swartz and others left, Greck looked at Song Yang, "PayPal may lose a lot, and if it goes on like this, PayPal will have many opponents!"

  Greck knows that when it is difficult to stop PayPal from developing, the banks will resort to all kinds of secret and covert means, and the giants of Wall Street will definitely take action.

   "PayPal can't stop. If you want PayPal to survive, you must have the strength to force the bank giants back to the negotiating table!"

Song Yang said to Gleick, the giants like Goldman Sachs and Citigroup have failed to take care of PayPal. If they don’t work hard at this time, they won’t let PayPal pass when they finish cutting the leeks in Southeast Asia and turn around. So comfortable, during this period, PayPal needs to raise enough chips.

   "PayPal is planning to build the largest customer service center on the Internet in Houston, which is expected to provide two to three thousand jobs for Houston. Houston Mayor Adrian welcomes this!"

   "Bank of Italy, announced a partnership with PayPal, becoming the first bank in Europe to start cooperating with PayPal."

   "Eastern Europe has become the fastest growing market for PayPal overseas. Yeadex, the agent of PayPal in Eastern Europe, announced that PayPal's daily transaction volume in Eastern Europe has exceeded the $10 million mark!"

PayPal is still surging forward, and various news are constantly coming out, some of which have improved customer service functions, and some have reached cooperation with new companies. Fill with water.

  Silicon Valley and Wall Street seem to be in an eventful season this year, with all kinds of news constantly. While PayPal is starting to stir, the tech industry has once again heard a big melon, and the Capitol Hill hearing against Microsoft is about to begin!

   (end of this chapter)