Back To 1995

  Chapter 878 Drain from the bottom

   Khosla and KPCB Venture Capital have already been slapped in the face by Google and paid a price of 100 million dollars. So what if Excite and George Bell were slapped in the face by Google.

  Even Khosla was happy to see that those companies that looked down on Google were all slapped in the face one by one, or were acquired by Google. This is enough to prove that his vision is correct!

Listening to the busy tone on the other end of the phone, the ominous premonition in George Bell's heart became stronger and stronger. At first he thought that Google was worthless, but now Google is soaring. George Bell listened to Khosla's words , Google seems to have the support of a giant company, otherwise, how could KPCB Venture Capital make such a big change, and would rather give up Excite for Google.

Like Excite, many companies were surprised by what happened to Google, especially Yahoo's board of directors. When they heard that Song Yang was willing to return the 9% equity he held to Yahoo for the sake of Google, the entire Yahoo board of directors was completely blown up. pot.

  The current board of directors is basically controlled by several major investment banks on Wall Street. Even Softbank, known as Yahoo's largest shareholder, has little say in Yahoo's board of directors.

Softbank has been very active in recent years. After the success of investing in Yahoo, Masayoshi Son has successively let Softbank invest in dozens of hundreds of Internet technology companies in recent years, not only in Silicon Valley, but also in Asia. Invest less.

As the major shareholder of Yahoo, plus Masayoshi Son's Softbank market value exceeding US$200 billion, and companies such as Japan Yahoo, Masayoshi Son is already the richest man in Japan and Asia, and even ranks first in the richest man list. Among the best, second only to Song Yang, Bill Gates, Buffett and others.

   But on Wall Street, Masayoshi Son's Softbank can't compete with the gangsters on Wall Street. Yahoo is still in the hands of Wall Street people!

  Yahoo's board of directors suddenly heard that Song Yang was willing to return the equity to Yahoo's board of directors. Although he was talking about Google's name, Yahoo didn't believe that rhetoric at all.

"There is news from Marcus that as long as Yahoo uses Google's search engine, Bruno Song can agree to take the 4% of Yahoo's equity held by the North American Global Investment Foundation and the 5% of Yahoo's equity that Double-click exchanged at the beginning. And return to Yahoo!

   But the requirement is to pay in cash! "

  Yahoo's chief financial officer, to Yahoo's president Coorg, founder Yang Zhiyuan, David Filo, and a group of Yahoo directors and executives talked about this sudden event.

   "Is there something wrong with Yahoo's operation?" Loeb, Citigroup's representative at Yahoo, was the first to ask Coorg if he had concealed something from Yahoo's board of directors.

Considering the current size of Yahoo, 9% of the equity is definitely a lot of money. Song Yang suddenly wants to throw away the 9% of Yahoo’s equity. If it gets out, I don’t know how much it will affect Yahoo. , It is not impossible to even directly smash Yahoo's stock price.

  Coorg had a headache. Yahoo management and the board of directors had been thinking about Song Yang's 9% stake.

   "Yahoo's performance in the new quarter is not satisfactory, but it is not the problem of Yahoo alone. Besides, I guarantee that everything is normal for Yahoo!" Coorg said helplessly.

   "This amount of equity must not be passed on to the market!"

Another representative of Wall Street on Yahoo's board of directors said that Yahoo's current stock price has exceeded 400 dollars. If Song Yang sells all the 9% of the shares, Yahoo's stock price will definitely collapse. Yahoo's stock has shrunk a lot.

It seems that Song Yang is negotiating with Yahoo, and even found a reason to talk about becoming Yahoo's search engine for Google, but in fact, there is only one way before Yahoo's board of directors, which is to take over the 9% of Yahoo's equity at a high price , and there is no room for negotiation, Song Yang didn't leave them a way out at all, if they didn't accept it, Song Yang would be thrown out of Nasdaq, and they would have to play with them at that time.

   "Jerry, we need to get Bruno Song to visit Yahoo, this affects the entire Yahoo!"

At this time, Coorg had to look at Yang Zhiyuan, who had lost power in Yahoo. Yang Zhiyuan and Filo seemed to have a high status in Yahoo. Yahoo continued to create momentum for them, making them symbols of Yahoo. Yahoo's right to speak has been far inferior to what it used to be.

  When Yang Zhiyuan heard that Song Yang was going to sell Yahoo’s shares, he couldn’t help being in a daze. He felt that Song Yang’s selling of Yahoo’s shares was far from a simple reason. Google was basically a cover.

   But this is related to Yahoo, and Yang Zhiyuan doesn't have much choice. Although Yahoo's management rights are controlled by Wall Street, his worth is also tied to Yahoo's stock price. It is impossible to sit back and watch Yahoo's stock price crash.

   Glancing at Coorg, and a group of Wall Street representatives on Yahoo's board of directors, Yang Zhiyuan still nodded.

   When I came to Yang Zhiyuan's office again, it was already different from the narrow office at the beginning. Now Yang Zhiyuan's office is quite large, with all kinds of facilities, just like the president's office in the film and television.

   But now, Yang Zhiyuan's office has been completely separated from the office of ordinary Yahoo employees. The scene where any Yahoo employee could come to the office to find Yang Zhiyuan at any time when he had any ideas and ideas is gone forever.

   It was still the same as when Song Yang first met Yang Zhiyuan, all he drank was tea, but at this time, the smile on Yang Zhiyuan's face was obviously much less.

   "Why sell Yahoo shares?!"

  In the office, there were only Song Yang and Yang Zhiyuan. After making a cup of tea for Song Yang, Yang Zhiyuan asked Song Yang directly.

   "Marcus has already explained to Yahoo, and you should also know that the North American Global Investment Fund has just invested in Google. I need to make Google the search engine of Yahoo and the leader of the search industry!

  Of course, Apollo Space Exploration Company, Siebel Automobile, etc. all need a lot of dollars to invest! "

  Yang Zhiyuan listened to Song Yang's words, and stared at Song Yang closely. He didn't know whether he believed Song Yang's words or didn't believe them at all, so he just sighed in the end.

  “After Yahoo went public, it was beyond my imagination, but it was completely different from what I thought.”

   In front of Song Yang, Yang Zhiyuan seldom showed a sad face. The current Yahoo is not what Yang Zhiyuan wants. The Yahoo he wants to build is also completely different from the current Yahoo that buys and buys everywhere and does everything for the stock price.

   But helplessly, Yahoo is now controlled by Wall Street and professional managers. No matter how dissatisfied Yang Zhiyuan is, it is difficult to change Yahoo's situation.

  Song Yang was silent about Yang Zhiyuan's situation for a while. It was not just him. Several of the major Internet companies in Silicon Valley are now dominated by the founder team. Even ICQ is now a mess.

   "Song!"

   When Kuge met Song Yang, he immediately gave Song Yang a hug, as if they were old friends, and Song Yang also had a smile on his face.

   "Song, I still remember the scene when Double-click exchanged shares with Yahoo!"

Kuge seemed to recall the past, and couldn't help sighing, but in fact, he was implying that Double-click came to the door to beg for an exchange of shares with Yahoo, but today, he wants to sell Yahoo's shares. Not authentic.

   Song Yang laughed, looked at Kuge and said, "I haven't forgotten either!"

Back then, when Double-click exchanged shares with Yahoo, Yahoo was quite domineering. At that time, Coorg was not relentless. He opened his mouth to exchange 5% of Yahoo’s shares for 18% of Double-click’s shares, plus several million dollars in cash. In the end, after a long time of wrangling, it became 5% of Yahoo’s equity in exchange for 13% of double-click equity, plus a few million dollars in cash, and an advertising campaign that promised tens of millions of dollars for Yahoo next year. Oral agreement received.

  Coorg at that time was quite tough, and the lion opened his mouth wide, without any mercy.

  The so-called 30 years in Hedong and 30 years in Hexi, this time, no matter what Song Yang does, he has to return everything Kuge did back then, right? !

   "160 billion US dollars, we ask Yahoo to repurchase this 9% of Yahoo's shares according to the market value of 160 billion US dollars!"

  As soon as he came up, Marcus opened his mouth and asked the Yahoo board to spend 14.4 billion US dollars to buy back the 9% stake in Yahoo Song Yang held.

"impossible!"

   "Yahoo's market value is less than 130 billion US dollars, which is too unfair for Yahoo!"

  Yahoo's chief financial officer, shaking his head like a rattle, are you kidding, more than 10 billion dollars in cash, the entire Yahoo is going to be drained.

Although Yahoo has made many large-scale acquisitions in a row this year, most of those acquisitions were equity exchanges and did not cost much cash, but what Song Yang wanted was all cash. If Yahoo wanted to raise such a large sum of cash, it would definitely have to sell its iron. .

   "Then you mean that the future market value of Yahoo is not worth 160 billion dollars?!"

   At this time, Song Yang asked the chief financial officer of Yahoo, and then looked at Coorg.

  (end of this chapter)