Wall Street Legend

  Chapter 174 Apple Comes Again (33)

   It is no secret that China's high-quality Internet companies like to gather together to list on NASDAQ.

Speaking of which, it was a forced and helpless choice. Ye Dongqing knew some relevant information, such as fixed profit requirements. Technology companies often need to go through long-term financing and burning money in the early stage to achieve the company's final profit goal. On the other hand, according to the listing rules, companies need to achieve profitability before they can get financing. This alone has shut out a large number of technology companies.

In addition, the difficulty of queuing up for listing is also a key point, and the rule of different rights for the same share is not yet supported. People call them "AB shares". The voting rights of B shares may be ten times or twenty times that of A shares. Internet companies need a lot of financing in the early stage, which will lead to the loss of equity.

Start-up teams often hold few shares, but they have a lot of voice in the company's control. This is different rights for the same share, which not only ensures the company's good capital circulation, but also prevents the founder team from being coerced by capital and easily being trapped. Wealthy investors were kicked out.

  Combined with these, it is indeed better to go public on NASDAQ, and the trading system is more open and transparent. Ye Dongqing supports Bonnie's idea with both hands, but the timing of the choice is not very good.

  A group of people are walking on the street, the weather is already a bit hot at the end of May.

  Ye Dongqing is going to take Bonnie Ma and others to Apple for a visit without prior notice, but with so many shares in Apple, it is almost impossible to be kicked out, so don't worry about anything, go first and then talk.

He said to Boney: "I am in favor of letting Tencent go public on Nasdaq. I have met Mr. Bernard Madoff, chairman of Nasdaq, at parties several times. I believe the other party should be willing to help, but I suggest It’s better to wait until the end of next year, or the next year to go public. Tencent is already making a profit, isn’t it? At that time, the shares will become more valuable. If necessary, I can provide you with a low-interest loan in a few months. Don't worry about money for now.

Now the global Internet industry is still in the doldrums, and there are some signs of recovery, but investors still lack confidence, it is not a good time to go public, otherwise I would let Facebook go public, but like Tencent, its value is still underestimated Yes, now that the IPO is listed, it will lead to the loss of some long-term benefits. I know that many companies have developed very well even if they are not listed. I can help you solve part of the funding problem. Unless you are not optimistic about the future development and hope to cash out part of it, otherwise I can't think of any reason to rush to go public. "

  The reason why they are willing to provide loans is mainly out of long-term interests.

   It must be losing money to go public now. Look at Google, it didn’t think of going public until it couldn’t hold on anymore. The current valuation has reached more than 10 billion U.S. dollars.

In Bonnie's eyes, Ye Dongqing undoubtedly belongs to the type of smart and successful people. He grew up in the United States and has a clearer understanding of the rules of the game. He hesitated for a while and said: "Of course I am optimistic about our company, and I don't spend too much money myself. If you are willing to provide loans, it will be no problem to go public after four or five years. The performance this year has been very good, with a profit of almost 30 million U.S. dollars. In fact, there is no need to accept loans, but we can develop after we get the money. faster."

   "Then I suggest you wait and be more patient.

   Didn’t you plan to list in Xiangjiang last time? I haven’t asked you why you suddenly changed your plan? "

"Because it's more troublesome, and I think investors in the US understand the Internet industry. After all, it is a mature market. A few days ago, people from the MIH Group also suggested that I go public in the US. They think the same as you and think it's unnecessary. I am in a hurry to go public, I will seriously think about it, and I can probably wait a little longer,” Boni said.

  They had arrived at the building where Apple was located. Ye Dongqing made a phone call, and soon someone came out to greet them.

  The listing arrangement has been officially put on hold. Both Ye Dongqing and MIH Group do not want to go public in the near future, so that their shares will shrink due to the pitiful public offering funds. I believe Boni will consider their correct suggestions.

  …

  The warrants have not yet been delivered, so Danshui Investment Group has not yet obtained the right to appoint board members to help supervise Apple.

With more and more stocks in hand, Apple's top executives already know that there is someone like him. The executive in charge of the reception is named Tim Cook, who will take over the position of Apple's CEO after Jobs dies. At present, Tim Cook is still in charge of the company's operations and sales, and his ability is quite good.

After introducing each other, Cook told Ye Dongqing: "The CEO of the company, Mr. Jobs, is in a meeting. Judging from your recent large-scale increase in Apple's stock holdings, you must already know my boss very well, right? No one will invest in a company that they don't own. A company that understands."

   "I really hope to have a face-to-face meeting with Mr. Jobs. This is also one of the purposes of my coming today. Recently, iPod sales are booming. Maybe my vision is right. Those warrants may help me make a fortune."

   "About this, I don't think you need to worry. As far as I know, the premium of those warrants is not too high. Some shareholders have already begun to regret it."

The launch of iTunes for one month directly led to a sharp increase in the sales of iPod music players, and the stock price rose slightly accordingly. In the past month, it has increased by a little over 3.0%, which is not considered a skyrocketing increase. But he didn't say that at the moment.

You know, this is just the beginning of Apple's success. It has been listed for almost 20 years, resulting in a very scattered shareholding in Apple. Nearly a hundred institutions hold its shares. It took a lot of money to buy Apple shares from these institutions. The employees of the investment group are very energetic, and the harvest season is about to begin.

Ponny's English is not very good, and a translator is helping him to tell him that it has hardly changed from the last time he came here. Ye Dongqing is looking forward to meeting Jobs, and takes time to show Ponny a taste of Apple's corporate culture. A partner was inspired, such as realizing that the Internet does not only exist on computers, but will also develop to mobile terminals in the future. This may be better than telling him directly.

It’s similar to Facebook before. Take a quick look. The focus of Tim Cook’s introduction is still the research and development laboratory. It’s been a while since the last visit. The new iPod and the next-generation prototype have just been developed. Extend the playback time to around ten hours, and the memory gets bigger.

He acted as an interpreter himself and told Poni some of the conversation. It would be fine if other people came to visit, but Ye Dongqing was different. He was about to become the largest shareholder of Apple, so Cook’s introduction was quite serious, and he quietly told some of his prospects for the future. he.

  To be honest, Ye Dongqing feels that some ideas are still too immature...

  (end of this chapter)