Rebirth 76: Industrial Internet Empire

JPMorgan Chase Tower in Dallas, Texas.

Although it was already late at night in Texas time, the conference room was still as bright as day.

Channing's email made Canaro, who was responsible for Amazon's IPO work, walk on thin ice and held an emergency meeting overnight.

"The cooked duck will fly away, JPMorgan Chase will become a joke in the capital circle! Let's talk about where our problems lie?" Canaro said with a livid face.

"Since registration, our communication with Amazon has been very smooth, and Amazon has been very cooperative. I can't understand why there was such a big disagreement suddenly!"

"Is there something wrong with Goldman Sachs?"

"That's right! It's not like Goldman Sachs wants to leave us and go it alone, right?"

"Impossible! We have signed a memorandum of cooperation, and no one can bypass the other to cooperate with Amazon!"

…………

Canaro frowned and said: "There is no problem with Goldman Sachs. I just communicated with Cohen and they also received a termination notice from Amazon!"

"What's the reason for the termination?"

"Same as our reason for terminating the contract, the board of directors is very dissatisfied with our work!" Canaro said solemnly.

"Why? Our progress has been fast enough. From registration, approval to preparation for the road show, it only took three months!"

"I don't think it has anything to do with the progress of the IPO. Amazon has already met the conditions for listing, but they don't seem to be in a rush for the IPO. Backed by the wealthy Zhiyuan Group, Amazon has no shortage of money..."

“Is it because you are not satisfied with the valuation?”

"Probably not. It's normal for the underwriter and the IPO company to have differences in valuation. It just doesn't make sense to terminate the contract because of this!"

.........

At this moment, Canaro's cell phone rang: "Mr. Canaro, this is Abby Cohen. I checked the flight information for the past two days. Yang Mo from Zhiyuan Group has come to Silicon Valley. He should be responsible for our work." Very dissatisfied, if my guess is correct, the problem should be with the company’s valuation, and we need to reach a consensus on modifying the valuation as soon as possible!”

"If you are just dissatisfied with our valuation, it would be much easier..." Canaro said with some relief.

"I'm afraid it's not that simple! The gap should be huge, otherwise there wouldn't be such an extreme reaction!" Abby Cohen said worriedly.

"Then how much adjustment do you think is appropriate?" Canaro asked.

"To show our sincerity, I'm going to raise the valuation to about $300 billion?" Abby Cohen said.

"A sudden increase of 60 billion? Is this too much?" Canaro said in surprise.

"This is just our preliminary quotation. Based on my understanding of Yang Mo, this price should not impress him! Let's make an alternative plan like this first. I'm afraid we won't be able to confirm the others until we meet Mr. Yang Mo!" Abby Cohen said.

The news that Amazon wanted to change underwriters spread throughout Wall Street overnight like it had grown wings...

Since opening his eyes in the morning, Qian Ning’s cell phone has not stopped. Not only Goldman Sachs and JPMorgan Chase, but also top investment banks such as Bank of America, Beleda, HSBC, and Deutsche Bank have also tried to get a piece of the pie. Amazon is such a huge piece of the pie. Who doesn’t want to take a bite of meat?

Amazon headquarters.

Yang Mo watched Qian Ning answer the phone hurriedly and said with a smile, "Can't you just turn off the phone?"

"Mr. Yang, do you really want to terminate the contract? Isn't that bad? It's not a wise move to offend Wall Street's top investment bank!" Qian Ning asked in confusion.

"Don't worry! They won't agree to terminate the contract easily. As expected, they are already on a flight to San Francisco..." Yang Mo chuckled.

"Are you putting pressure on them? Aren't you going to change the lead underwriter?" Qian Ning asked with a look of joy on his face.

"That's not necessarily true! It depends on whether they are willing to spend the money!" Yang Mo said.

"Director Yang, Mr. Qian, Ms. Abby Cohen from Goldman Sachs has arrived. I asked her to wait for you in the reception room..." Assistant Fang Yu walked in and said.

Qian Ning stood up and was about to run to the reception room. When Yang Mo didn't move, he stopped again.

Yang Mo looked up at Fang Yu and said, "Xiao Fang, go and receive Ms. Abby Cohen first and ask her to wait for a while..."

Ten minutes later, Fang Yu returned to the President's Office: "Director Yang, Mr. Qian, Ms. Abby Cohen has brought a new IPO plan and would like to talk to you..."

After another ten minutes, Yang Mo and Qian Ning hurried into the reception room.

"Mr. Yang, Mr. Qian, we are very sorry that we did not do a good job before and let you down. We hope you can be given another chance..." Abby Cohen apologized sincerely as soon as they met.

"Terminating the contract with Goldman Sachs is really a difficult decision for Amazon! But we have to make such a choice for the development of Amazon. Ms. Abby, please forgive me. We will pay dues as stipulated in the contract. Thank you for all your efforts for Amazon IPO!" Yang Mo said very politely.

"Mr. Yang, you are serious! This is what we should do. Goldman Sachs has always put the interests of our clients first! I wonder what we did poorly that made you want to terminate the contract with Goldman Sachs?" Abby Cohen thought Suddenly, did Amazon find another company to take over this project so quickly?

"Really want to hear it?"

"Please make it clear to Mr. Yang..." Abby Cohen said.

"Amazon chose Goldman Sachs and JPMorgan Chase as the lead underwriters of the IPO because of your professional capabilities as top investment banks. However, I don't know who is responsible for this IPO planning project, you or Mr. Canaro. I I feel very unprofessional!" Yang Mo said, spreading his hands.

"Mr. Yang, can you tell me in detail?" Abby Cohen took out a delicate notebook and prepared to record it with a very sincere look on his face.

"First of all, Amazon is a company with a capital market valuation that may exceed 200 billion! The suggestion you gave is 240-[-] billion US dollars. Ms. Abby, I am very surprised. This is actually the suggestion given by Goldman Sachs! Your road show The planning plan has almost no highlights, how can such a road show convince investors that this is an Internet company with a valuation of more than [-] billion US dollars?" Yang Mo said in a deep voice.

"Mr. Yang, I don't understand something. Do you think Amazon is a company with a market value of more than [-] billion?" Abby Cohen asked in confusion.

"Isn't it worth it?" Yang Mo asked.

"It's normal to have differences in valuations. Different people have different opinions..." Abby Cohen shook her head and said with a smile.

"The valuations of Cisco and Intel have reached several hundred billion US dollars. Do you think Amazon is not worth a valuation of US$5000 billion?" Yang Mo asked.