My Age of Investment

   Chapter 1032

"The next step is to maintain the status quo. We will tell Ballmer one by one about Yahoo’s support for Ahri and what management strategies it implements, and try to strive for Microsoft’s support so that Ahri will not be affected by changes in major shareholders. ."

  Ma Yun frowned and said: "Ballmer is such a strong person, it's not easy to persuade!"

   "That's why it's the next best thing!"

   "What about Zhongce?"

  Xia Jingxing slowly said: “Zhong Strategy is to buy back part of Ari’s equity and replace the major shareholder with Envision Capital or Softbank.

  Everyone has been working together for so long, and we know each other and we work together, and Microsoft can’t afford the remaining equity. "

  Ma Yun was lost in thought. In fact, he had considered the plan proposed by Xia Jingxing.

  The disadvantage is that the proportion of equity held by Vision Capital or SoftBank will increase again, which will threaten his founder.

  Xia Jingxing did not say a word, silently observing the subtle expressions on Ma Yun's face.

  In order to facilitate the next showdown, he now has to test Jack Ma's bottom line a little bit.

  "This plan is okay, but the biggest question is how much can you pay?"

  Ma Yun pretended to be joking and said, "You are so poor now, what do you use to buy shares?

  If you can't get the big money out, you can only go to Sun Zhengyi.

  Whether it is for future development, or from the perspective of the country, nation, or even personal emotions, I am more inclined to become a major shareholder of Ari. "

  Xia Jingxing kept a faint smile on his face, but cursed the old fox secretly in his heart, this guy tried him in turn!

   also asked him how much money he could spend, and the purpose was naturally to calculate how many shares he would increase.

   "If Microsoft agrees to sell, the big deal is that I pledged the shares of Facebook, YouTube, Renaissance Industry, and Domestic Holdings. If we pool together, it shouldn't be a big problem to take 10% of the shares."

  Ma Yun calculated silently in his mind that Envision Capital holds 23% of Ari’s parent company, plus 10%, which is 1% short of security control rights and 34% veto rights.

   Thinking of this, Ma Yun looked up at Xia Jingxing, who was laughing at himself.

  Obviously, this is the result of careful calculation by the other party, and all his careful thoughts have fallen into the eyes of the other party.

  "Dalun, Yahoo has a 26% stake in it. It’s not easy to convince Microsoft to sell only 10%. If you have plenty of money, you can buy it all."

  Xia Jingxing waved his hand, "No, no, I'm just an investor, so I just need to make money."

  Ma Yun smiled, no longer temptation, and asked: "What about the best policy?"

   "The best policy is to buy back the 26% equity, Vision Capital, Softbank...plus your management!"

  Ma Yun suddenly dilated his pupils, "Plus our management?"

  Xia Jingxing nodded, "Yes, your shareholding is too low, which is not conducive to long-term work. I believe Mr. Sun Zhengyi can understand it."

  Ma Yun was really taken aback by Xia Jingxing's current situation. The past Xia Jingxing gave him the impression of "a whale" and he would swallow everything.

  For example, he has already invested in them, but he has to invest in the digital e-commerce platform Jingxi.

  Although it was invested in the name of Fuxing Industrial Holding Group, it seems to Jack Ma that it is the same. He just wants to swallow the dividends of China's e-commerce industry and even the vertical e-commerce platform. I heard that I have been exposed to Dangdang before...

  Of course, Jack Ma was still a little dissatisfied and nervous about Xia Jingxing’s investment in Jingxi.

  He and Cai Congxin have joined together, for fear that Xia Jingxing will merge it with Fuxing Mall and go all-out to enter the e-commerce field.

However, one year later, Fuxing Mall also sells mobile phones and home appliances. Although Jingxi has expanded a lot of categories, it is still a thousand miles away from Ari, and Xia Jingxing did not inject capital again. The standard VC hits Law.

  This incident gave him a lot of peace of mind about Xia Jingxing, and the relationship between them was as good as ever.

  Now Xia Jingxing wants to take him to play, how can he not make him feel good.

  Looking at Xia Jingxing with a gentle smile, Ma Yun remembered that summer...

  A sunny and handsome guy appeared at the Pebble Beach Golf Course, and as soon as he opened his mouth, he would participate in their "$1 billion per shot" investment bet...

  Since then, he has been very fond of Xia Jingxing’s timely rain.

  Facts have proved that the addition of Envision Capital has indeed given the management more favorable conditions to sell the same amount of equity, raise more funds, and depress the price of Yahoo China’s transaction.

  It’s just that because of various misunderstandings, such as Xia Jingxing’s investment in Jingxi and joining the Huashan Club by himself, a pair of good friends drifted away...

  Thinking of this, the regret that Ma Yun couldn't express in his heart, a thousand words were stuck in his chest.

  "Daren...I..."

  Ma Yun said emotionally, "I thank you on behalf of the team, but we have no money!"

Ma Yun smiled bitterly, "You just said that Ali Baba's pledge rate is very low, and I and the team together, at most we can borrow several billion Hong Kong dollars. This little money is not enough to acquire equity, that is the whole thing. Li Group’s equity includes Taobao, Alipay, Alisoft, Yahoo China and other businesses."

  Xia Jingxing nodded, "I know that, I can help you!"

  Ma Yun became interested, "how do you say?"

   "Let's pledge the shares of Ari's unlisted business together, so that we can complete the acquisition. Only considering the pledge rate, the number of shares that can be acquired will not be too many, three or five points!"

  Three or five points also made Jack Ma very excited. Regardless of the management's total shareholding of 31%, in fact his personal shareholding in Ari is very low, less than 8%.

  If there is a chance to increase his holdings to more than 10%, he can't let it go anyway.

  Xia Jingxing’s best policy, he is very tempted!

  Even though Ma Yun was trying his best to restrain his emotions, the stroke of joy on his face did not escape Xia Jingxing’s eyes.

  Xia Jingxing smiled. With this plan, he is not afraid that Ma Yun will not be tempted, but that he is not interested in money.

  Obviously, he is still interested in money.

  Of course, he wants to eat as much of Ari’s equity as possible, but this is a four-sided wrestling game. If you want to break the game, you have to scatter enough bait.

  Many people around, including many friends, think that he is more independent and do not like to share, but that is just not to the point where he needs to divide the profit and form an alliance.

   Profits are not taken lightly. If you want to go out, you must achieve the desired effect, otherwise it will be throwing coins.

   "Old Ma, how about it? Is this plan okay?"

  Ma Yun smiled and said: “It’s good, but it’s not easy to implement it. I am very confident in Ah Li’s future, and I am afraid that others will not approve it.

  After all, most of the business of Ari Group is not listed, so it is not easy to price. "

  Xia Jingxing chuckles, it's all here, and Jack Ma is still playing with himself.

  No more, I’ll give you a reassurance: “I’ve been hanging around on Wall Street for several years, and I have a good relationship with many organizations. You see that Facebook is not listed, so I pledged a lot of money for the loan?”

  Ma Yun suddenly realized that he knew what Xia Jingxing said was sacred.

   "That's OK, if things don't go well, when we negotiate with Microsoft, try our best to talk about it."

  Speaking of this, Ma Yun felt a little shaken. If he and others successfully prevented Microsoft from acquiring Yahoo, would Yahoo allow himself to buy back shares?

  Thinking of this, Ma Yun felt that his position was beginning to be a bit unstable.

  Xia Jingxing glanced at Ma Yun and was very satisfied. That's right, go on the road!

  …………

  …………

  After arriving in Silicon Valley, I took a rest.

   Early the next morning, Xia Jingxing and Ma Yun asked Yang Zhiyuan to go to Pebble Beach to play golf.

  Revisiting the old place, the three of them are in a good mood.

  More than two years ago, the three people got together here, and this is how the joint investment in Ari came about.

  Yang Zhiyuan took a shot, and the white ball flew over a beautiful parabola and landed on the coast.

  Jack Ma clapped beside him like a caring little brother, his face sincerely praised: "Good ball! Jerry, if you don't start Yahoo, you might become an excellent professional golfer!"

  Xia Jingxing smiled on the sidelines, passed it! Regret to create Yahoo Jerry Yang?

  Yang Zhiyuan laughed, and pointed at Ma Yun with a smile, knowing that the other party is flattering, but he just likes to listen and never tire of listening.

  After several years of in-depth contact, his character has long been cleared by Jack Ma.

After playing for a while, the three of them started talking about Yahoo.

  Ma Yun expressed his worry that Ari’s major shareholder would become Microsoft, and then looked at Yang Zhiyuan with a worried expression on his face.

"Don't worry, Yahoo won't sell it. I just follow the shareholders' wishes and make a false impression with Microsoft! After a period of delay, I will set a high price to scare away Microsoft. This is not my responsibility. The explanation passed."

  Yang Zhiyuan slid his cue and looked at the beautiful coastal scenery with turbulent waves in the distance. He felt that his plan was too perfect to shut up all the annoying flies.

  Xia Jingxing's expression remained unchanged, everything was in his expectation.

  Ma Yun couldn’t help it, and asked, “You’re not afraid of shareholders being held accountable afterwards? Jerry, no one is a fool. You can’t hide these tricks from the investors on Wall Street.

  If Yahoo’s stock price collapses due to the breakdown of negotiations, they will only shirk all the responsibility on you. "

  Yang Zhiyuan shrugged, with an indifferent look, completely letting himself go.

   "That's not right, Jack, don't you want to see Microsoft's acquisition fail?"

  Ma Yun knew that he was almost exposed, and hurriedly added: “I’m not worried about you? I don’t want to see you take responsibility for it.”

   After finishing speaking, Ma Yun found that Xia Jingxing was looking at him with a playful face, and immediately became a little flustered in his heart. Don't you let this guy see through it?

  He vaguely felt that Xia Jingxing had also changed his position, or that his position had not changed!

Yang Zhiyuan smiled and said: "It's a big deal to resign and not be the CEO. I don't want to be anymore. Yahoo's current situation has completely disappointed me. I can't control it. The shareholders are short-sighted people. They can do whatever they like. Do it!"

  Seeing Yang Zhiyuan with a trace of determination across his face, Xia Jingxing knew it in his heart.

  This is a heart that has been hurt before, and completely self-defeating.

  　The patch is completed.

  (End of this chapter)