Revisiting Future Path

087 Not a joke

Wei Dongsheng shook his head and rejected Xiong Xiaoge's suggestion: "NetEase has the way of Netease, and Spring and Autumn has the way of Spring and Autumn."

Wei Dongsheng eased his tone and explained in detail: “The business model of Chunqiu Network is not about showing off technology or being superstitious, but rooted in user needs. What kind of games will Chunqiu Network launch when users have any needs. Timing In the paid field, there is already "World of Warcraft"; in the freemium field, there is also "The Spring and Autumn of the Ten Kingdoms". If a role-playing game with a similar mechanism is launched in a short period of time, it will inevitably distract attention. "Western Journey 2" arrives The evolution of "Fantasy Westward Journey" is certainly a road to success, but it is not the pursuit of Chunqiu Internet. In this world, there are many roads to success. Instead of being greedy and greedy, it is better to concentrate on the path under your feet."

Xiong Xiaoge smiled: "Who can guarantee that the road under your feet is the road to success."

Wei Dongsheng also smiled, but the answer was an unusually aggressive leak test: "I can guarantee it."

Xiong Xiaoge choked.

Faced with Wei Dongsheng's self-confidence, Xiong Xiaoge was speechless for a while, and he understood why Yang Fei spent half a year without gaining anything. Xiong Xiaoge awkwardly ended the questioning, and said in a three-pointed real seven-pointed false tone: "Mr Wei is really confident."

Wei Dongsheng took a step back to ease the atmosphere: “As an operator, Chunqiu Network cannot only operate one online game. However, unlike other game manufacturers’ model of "casting the net, fishing more fish," Chunqiu Network filters games based on user needs. After selecting the player group and field, we will try our best to do well. In addition to "World of Warcraft" to supplement the time-based payment field, Chunqiu Network has just launched a new project that will fill the gap in the leisure field of Chunqiu Network."

Xiong Xiaoge no longer cares about the development model of Chunqiu Network.

Because, no matter how bright the future of the Spring and Autumn Network, Xiong Xiaoge does not think it can grow to 5.78 billion US dollars.

Two billion dollars, all hope is slim!

Moreover, the copyright of "The Spring and Autumn of Ten Kingdoms" is in Chunqiu Software, and the exaggerated sales of "Spring and Autumn of the Ten Kingdoms" are not equivalent to the sales of Chunqiu Network. After deducting sales share and operating and tax expenses, Chunqiu Network can only get 30% to 40% of gross profit. In other words, the monthly sales of "Ten Kingdoms Spring and Autumn" can reach 578 million U.S. dollars. Even if the Spring and Autumn Network develops smoothly and the market value reaches 578 million U.S. dollars on schedule after three years, this investment will not be able to bring real benefits to IDG.

Just like Wei Dongsheng is unwilling to sell Chunqiu Network at a loss, IDG is also unwilling to invest in low-profit projects.

Since neither party is willing to compromise, the negotiation of the second option can only lead to collapse.

Xiong Xiaoge looked down on the prospects of the Spring and Autumn Network, and also looked down on the prospects of Tencent, and restarted the first plan proposed by Wei Dongsheng in a timely manner: "In 2003, Tencent developed very well, with annual operating income of 735 million yuan and profit of 322 million yuan. , Not worse than Chunqiu Network. Moreover, Tencent’s idea of ​​repurchasing shares is very strong, and is willing to raise it to 6.5 million US dollars. If Chunqiu wants to buy 7.2% of Tencent’s equity, the 6 million US dollars it paid six months ago is not enough."

Xiong Xiaoge is bluffing and raising the price.

The news that Wei Dongsheng found showed that the Tencent team did not have a clear understanding of their own value and was unwilling to follow up on the offer of Chunqiu.com. After IDG urged it for half a year, the Tencent team reluctantly raised the repurchase terms from 4.579 million to 5 million US dollars. It is precisely the generation gap between 5 million and 6 million US dollars that IDG took great pains to organize today’s talks, and the extra 1 million US dollars would be 1 million US dollars.

Wei Dongsheng insisted on the base price of 6 million US dollars: "In my eyes, Tencent's 7.2% equity is only worth 6 million US dollars."

Yang Fei spoke on behalf of Xiong Xiaoge: "I think Mr. Wei is very optimistic about Tencent. Tencent is the first investment of Chunqiu."

Wei Dongsheng: "I am optimistic about Tencent's huge number of active users, not Tencent. If IDG owns 72% of Tencent's equity, I will be very happy to offer an offer of US$72 million or even US$100 million, which will completely cover Tencent. Unfortunately, IDG only has 7.2% equity. This equity cannot affect Tencent’s senior executives’ decision-making. It is also difficult for Chunqiu Network to realize Tencent’s resources smoothly. Therefore, I can only give a quote of $6 million."

Negotiations are deadlocked again.

IDG wants to raise the price to 6.5 million US dollars or even 8 million US dollars, but Wei Dongsheng is unwilling to let go and firmly insists on 6 million US dollars: "The reason why Chinese Internet companies have come out of the cold winter depends entirely on the "Monternet" business of China Mobile. Tencent is no exception. Looking at Tencent’s current revenue structure, you can see how much it relies on the cooperation with China Mobile. However, the phenomenon of SMS charging has attracted public outrage. It is said that SMS business revenue only accounts for the mobile company’s annual revenue. 3% of revenue, while complaints against SMS services accounted for as much as 70%. Once the country starts to control the turbulent telecommunications business under the mud and sand, Tencent’s revenue and profits will immediately be cut."

The reason why IDG looks down on Tencent is also because Tencent is almost parasitic on Monternet at this moment, and there is no promising prospect at all. Xiong Xiaoge heard Wei Dongsheng's over-the-picture voice: "Do you have a way?"

Wei Dongsheng gave a reason: "Chunqiu Network is an online game operator."

Xiong Xiaoge's eyes lit up: "You mean, realizing Tencent's traffic advantage into a game player?"

Wei Dongsheng: "Yes."

Xiong Xiaoge hesitated: "Tencent also tried to set foot in the online game industry, but ended up failing."

Xiong Xiaoge is talking about "Triumph".

Wei Dongsheng: "I have paid attention to Triumph. To be honest, although this game lacks the hardware foundation of a big explosion, it is definitely an investment that can recover the cost. The failure of Triumph is more due to Tencent's failure. Professional. However, Chunqiu Network is a network operator, and everyone knows the operation of "Ten Kingdoms Spring and Autumn" at a glance. If Chunqiu Software and Chunqiu Network jointly operate "Triumph", "Triumph" will never die as miserable."

Xiong Xiaoge thoughtfully.

If Tencent can operate jointly with Chunqiu Network, it may not be able to break new ground.

However, considering the perseverance of the founder team of Tencent and the stubbornness of the founder team of Chunqiu, if the two sides have different opinions and quarrel inside, it is difficult to think about the picture for good.

After all, $6 million is better than $5 million.

Xiong Xiaoge considered for a long time, and finally chose to compromise.

Wei Dongsheng sighed and said goodbye to Xiong Xiaoge, Yang Fei, Zhou Quan and others: "I wanted to cooperate with IDG at a deeper level, but it seems that I can only wait for the next time."

Yang Fei smiled and said, "There is definitely a chance in the future. You see, when we met at this moment last year, we did not negotiate a business; when we met this year, we negotiated a $6 million business; when we meet next year, maybe we can talk about 6000 Ten thousand dollars is a big business."

Wei Dongsheng laughed and said, "I hope so."

IDG agreed to sell a 7.2% stake in Tencent for US$6 million, which does not mean that Wei Dongsheng has successfully obtained a 7.2% stake in Tencent.

The purpose of the shares is cooperation, how to cooperate, the prospect of cooperation, and the exercise of their respective rights all require contract details. In addition, IDG’s willingness to sell is one thing, and Tencent’s willingness to accept Chunqiu’s shareholding is another.

Taking Chunqiu Network as an example, Huo Yongshan owns 13.3% of the equity. Can venture capital such as IDG acquire Huo Yongshan's equity to control Chunqiu Network?

The answer is no.

Huo Yongshan wants to sell again, Wei Dongsheng has a thousand ways to make him unable to sell; venture capital to get 13.3% of the equity, Wei Dongsheng still has a thousand ways to depreciate 13.3% of the equity to 1.33%. Regardless of Huo Yongshan or Jing Minqiang, if you want to transfer the equity of Chunqiu Network, you must obtain the consent of Wei Dongsheng.

The reason for this is that Wei Dongsheng not only holds 62.7 shares of Chunqiu Network, but also controls the operation of Chunqiu Network.

It's the same for taking a stake in Tencent.

If the Tencent team dislikes and even opposes Wei Dongsheng, Wei Dongsheng's 7.2% stake in IDG will not help, just like Huo Yongshan did with Chunqiu.

The premium acquisition of 7.2% of IDG's equity is just the first step to reach Tencent. The equity transfer contract contains more trivial details. Fortunately, these can be transferred to legal departments and other departments for processing. The taste of the Spring Festival is getting heavier and heavier. Wei Dongsheng is busy finishing the bidding for Tencent's equity acquisition and the first stage design of the "Cambrian 2004" supercomputer. He drove back to his hometown in Panyang.

On the way, Wei Dongsheng suddenly received a call from Tencent: "Hello, this is Tencent's Zeng Liqing. May I ask, are you Wei Dongsheng, President Wei?"

Wei Dongsheng replied in the affirmative: "It's me."

Zeng Liqing: "IDG reached an equity agreement with you a few days ago. Doesn't Chunqiu Company feel that the distance between Yanjing and Shenpeng is a bit far?"

Wei Dongsheng understood Zeng Liqing's illocutionary meaning, and retorted in a light tone: "The distance between Yanjing and Shenpeng is always less than the distance between South Africa and Shenpeng."

After IDG transferred 7.2% of its shares to Chunqiu, Chunqiu held 7.2%; Tencent’s founder team held 46.5%; MIH held 46.3%. MIH's full name is Milad International Holding Group Company, located in South Africa. In any case, the distance is farther than Yanjing.

Zeng Liqing and Wei Dongsheng did not know each other and had no friendship. After a few simple words, he said: "If Tencent insists on repurchasing 7.2% of its shares, what is the highest asking price in Spring and Autumn."

Wei Dongsheng: "720 million."

Zeng Liqing: "Uh, your asking price is too high."

Wei Dongsheng: "720 million US dollars is not high."

Zeng Liqing was coughed by Wei Dongsheng's words: "720 million US dollars... I can sell Tencent to you."

Wei Dongsheng: "Do you think I am joking?"

Zeng Liqing: "Otherwise?"

Wei Dongsheng: "If I say, if you are willing to accept ten-year installments, I am willing to buy Tencent for 10 billion US dollars, do you still think I am telling a joke?"

Zeng Liqing was completely stunned.

Zeng Liqing’s cell phone microphone was blocked for two or three minutes before continuing to talk: "You have 10 billion US dollars?"

Wei Dongsheng: "No."

Zeng Liqing: "Since you don't have 10 billion dollars, why do you believe you are not telling a joke?"

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