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Chapter 65: For shares or cash?

大 What big news happened in the United States in July 2009?

The Quartet mergers and acquisitions that Facebook, Teresa Roy, China's richest man Li Jiacheng, and Apple are negotiating are undoubtedly one of them.

The first three are giants worth 10 billion US dollars. Facebook and China ’s richest man, Li Jiacheng, do n’t need to introduce them. Although Teresa Roy ’s worth is less than 10 billion U.S. dollars, they are very close. Moreover, under his name He is not alone in his investment funds.

Among them, the weakest-looking Apple company is also well known to Americans because of the increasingly popular product of ins. Users covering 12 countries' ins have become a necessity in many people's lives.

Even because of ins, many Americans are used to taking a few photos before doing something, such as eating, such as before going to bed, or just getting up in the morning.

Of course, after taking the photo and saying good night, you have to remove your makeup before you can sleep. After getting up in the morning to finish your makeup, you have to lie back on the bed and take a photo to say good morning.

头 "Wall Street Times" headline: M & A cases that are likely to exceed $ 1 billion.

For a ‘game’ company that has only been in existence for more than two months, the transformation of the first Internet product to obtain such a high valuation in such a short period of time is simply incredible.

Under the attention of the people in the United States, and even the attention of people in other countries, the number of registered users of ins has once again grown wildly.

A lot of Facebook users who have not used ins themselves also choose to download ins because of these news. When they download ins, they become active users of ins because of its simple photo social function.

"Their registered users have exceeded 30 million."

The members of the negotiating team on Facebook, at this time, were not very good, because the news was leaked out, which helped ins increase the value of itself. The higher the value of ins, the greater their investment in acquiring ins.

Someone suggested: "We should warn them that this method will only fail this merger."

虽然 Although this proposal is the idea of ​​many people in the negotiation team, they also know that it is now that they are already riding a tiger.

多 More than 10 million users, and more than 30 million users, are completely different concepts.

At this time, even if they are not willing to acquire ins, the value of ins also goes up, and if ins is acquired by their competitors at this time, their pressure is even greater.

"Who exactly leaked the news? Apple? Teresa Roy? They are most likely because they are vested interests." Someone analyzed: "Li Jiacheng is also possible, because the greater the value of ins, he will He needs to invest more money, and as he invests more money, we need to exchange more shares for him. "

The person in charge of the team said: "It is meaningless to discuss these now. The Quartet merger and acquisition case, it is difficult to ensure that the information is not leaked. And, even if you know who leaked it, what can be done? It should be acquired, we Still have to buy it. "

After some discussion, during the negotiation process, Facebook, which had always maintained a high attitude, finally let go of their arrogance and began to actively contact Sith and others. The process of negotiation has accelerated a lot in the interim.

Lucis' resentment was resolved, and the news of the good news gave a big sigh of relief.

Being able to negotiate as soon as possible means that he can get more cash and can invest in the hardware production of the iPhone.

The most important question now is whether he wants all cash or some Facebook shares.

"Why not take a share?"

Lucis felt incredible about Wen Ming's struggle at this time.

"Do you know how many people are now, waving a check to get Facebook shares? Do you know that even if Facebook is listed now, its market value will more than triple its current valuation? If Facebook etc. Do you know how much it can be worth before it goes public after it has captured more markets in two years? "

多少 How much Facebook can be worth after the listing, Wen Ming knows better than anyone in the world. After six years, the market value of Facebook can reach 480 billion US dollars, which is about 20 times the current valuation.

That is to say, if Wenming can get Facebook shares, no matter how much, six years later, he can turn 20 times.

Even after six years, Facebook's shares will increase, and at that time, it would be impossible to get a proportional share of Facebook. No one would be willing to give up Facebook's shares easily.

Qi Wenming sighed and said, "It's because it takes two years to go public before I hesitate."

The Quartet M & A case talked about now, and the final result is almost certain.

The value of ins is around 1 billion U.S. dollars, and it will not change more or less. Facebook's valuation is $ 24 billion. The value of the US $ 15 billion valuation when Microsoft and Li Jiacheng bought Facebook shares a year ago was up by almost US $ 10 billion.

(Ps: In real history, Facebook raised a financing in May 2009. 2% of the shares were sold for 200 million US dollars, which is lower than Microsoft's valuation when financing. But this is a special case because investor Milner No preference shares, no board seats. Note 1)

But if there are other people who want to invest in Facebook at a valuation of $ 24 billion, Facebook will simply not accept it because they don't want more shareholders.

I was able to make Facebook accept this offer, in addition to Li Jiacheng's priority financing rights, but also because Facebook really needed ins.

Sith still couldn't understand, saying: "This time Facebook is expected to take out 2.4% of the shares, and the ins will be completely owned by them. The 2.4% of the shares will be allocated by us and our three parties. Among them, Tai Lei Sharo does not want cash, which means that he will get 0.24% of the shares, but he is not satisfied with 0.24% of the shares. He wants to replace as many of these 2.4% of the shares as possible with cash. That's what Li Jiacheng did. He also wanted to replace as much of our shares as possible with cash. "

Speaking of this, Sith shouted angrily: "Do you know why these two world-class rich people want to exchange cash for Facebook shares? Or, do you know why the two of them can become the world Rich? "

The roar from Wu Wenming's office ~ www.readwn.com ~ made Cage and others outside the door more lame. As an employee of Apple's legal department, Cage naturally understood the demands of both parties in the negotiation process, and he could not understand why Wenming didn't want Facebook shares.

When you don't know how to make a decision, look at how people who are better than you make decisions. Both Teresa Roy and Li Jiacheng are far stronger than Wen Ming.

Following the choices of these two people, will they suffer?

"Isn't it good for us to eavesdrop?"

Cage whispered a little, James next to him glanced at him and said, "You are not ignorant of Wenming. I am worried that Wenming asks for cash because he is afraid that he will not live long. But if he Ming ’s cancer has n’t recurred. Is n’t it a big loss? ”

Tom Ting is a little anxious behind the two because "Talking Tom Cat" is about to be released and he won't be able to change his name again.

"You two, go ahead and explore the tone?"

Tom Ting feels that these two college students are definitely in their hands, but it is Cage and Wenming's eyes that respond to him.

In the office, Wen Ming rubbed her forehead and said, "Sith, can I be quiet for a while, think about it?"

Lucis sighed and said, "You don't have too much pressure. You've made enough money. There really is no need to take such a big risk."

After speaking, Sith left Wenming's office and opened the door with wide eyes and small eyes.

Uh ...

Uh ...

Ps: There are fewer new books, and everyone is not good enough, so I recommend two books, "Divine Flower on the Other Shore": The old author's new book can be maintained. "High-Risk Occupation": The first new book on the military.

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