My Age of Investment

Seeing Yang Zhiyuan's silence, Xia Jingxing continued to add weight to the other party's heart: "Replace the 3.9% equity you hold in Yahoo with equity in Yahoo Mail, and then inject it into Facebook, and replace it all with equity in Facebook.

As Google's search market and online advertising market share continues to increase, Yahoo's market value may continue to decline.

Facebook, on the other hand, is dominating the social arena. Every year, the company’s user base grows by hundreds of millions, and its valuation doubles.

Let go of Yahoo and make an explanation to past partners and shareholders. Even if there are any problems in the future, no one will find fault with you. This is a common choice for everyone. You are just the person who signed on behalf of you.

Bring Yahoo Mail to join Facebook and start a business and grow together with Facebook.

For you, this is a second entrepreneurial start-up, an opportunity to re-prove you are Jerry Young.

You are not just an investor or shareholder, but our partner and co-founder. "

Yang Zhiyuan nodded. Now he really felt Xia Jingxing's sincerity. The other party wanted to help him, and maybe he had some selfish motives, but he was definitely not like some guys from the outside world who saw Yahoo's bloody wounds and wanted to pounce on him and take a bite. .

"Are you sure Microsoft can agree to such a plan?"

Jerry Yang smiled and said, "Although what they value most is Yahoo's search and portal business, they also own Hotmail.

In the global market, Hotmail and Yahoo Mail are basically neck and neck, both with more than 200 million users.

But in the US market, which is the most valuable, Yahoo Mail ranks first, with nearly 100 million users, twice as many as Hotmail, which ranks second, and four times as many as Google Gmail, which ranks third. "

Xia Jingxing smiled and said, "So, this requires you to communicate and coordinate.

If Microsoft really doesn't agree, we have alternatives. "

"What alternative plan?" Yang Zhiyuan leaned forward.

Xia Jingxing said calmly: "Ali's equity."

Yang Zhiyuan's eyes widened, and he suddenly realized.

…………

…………

After settling down Jack Ma and Yang Zhiyuan, Xia Jingxing called Gates.

Soon, Ballmer flew to Silicon Valley from Microsoft's headquarters in Seattle.

Walking into Vision Capital's Silicon Valley office, Ballmer shook hands warmly with Xia Jingxing.

"Darren, Bill told me, thank you for intervening on behalf of Microsoft."

Xia Jingxing looked at the old man with a smile on his face. He remembered that last year the other party came to buy Android aggressively. After being rejected by him, he slapped the table with him. He was a very strong person.

Going forward a few years, Microsoft wanted to buy a stake in Facebook, and Ballmer also acted as Gates's pawn. He used various threats and inducements to himself, asking to lower Facebook's valuation and sign a search engine cooperation agreement...

To be honest, everything in the past made it difficult for him to have a good impression of Ballmer.

But business is business after all, so it’s better not to get too involved with personal emotions.

"Mr. Ballmer, please come in!" Xia Jingxing greeted Ballmer and his group very politely, putting aside his personal likes and dislikes for the time being.

Entering the conference room, Xia Jingxing sat on one side of the long table with Ricky, the head of Vision Capital's Silicon Valley office, and several Silicon Valley office executives. Ballmer and people from Microsoft sat on the other side of the long table, talking to each other. Staring at each other.

"Mr. Ballmer, since Mr. Gates has told you everything, let's be more direct today, shall we?"

Ballmer smiled gently, "No problem, Darren, just tell me your plan."

“With the split of Yahoo, Jerry Young’s 3.9% stake in Yahoo was completely converted into a stake in Yahoo Mail.

Yahoo Mail belongs to Facebook, Ali's 26% equity belongs to Vision Capital and Ali's management, and all the remaining assets belong to you, including the portal, search business, etc. "

Ballmer nodded slightly and did not rush to express his opinion. He asked with a smile: "Darren, you must have convinced Jerry with this plan, right?"

Xia Jingxing smiled lightly, "Persuasion is not an accurate word. Jerry just said to consider it! Maybe he has the idea of ​​bringing us in to get Microsoft to increase its offer? What do you think, Mr. Ballmer?"

Ballmer laughed loudly, "Darren, you are so funny! Vision Capital, Facebook, and Ahri should not be able to save Yahoo from the quagmire. On this planet, apart from us, Microsoft, Google should be the only one with this qualification."

Xia Jingxing looked at Ballmer, who was smiling proudly, and did not get angry with the old guy. He always spoke like this, so forcefully that he almost showed no mercy.

"After excluding Ali's equity assets and Yahoo Mail, Microsoft can save a lot of money and integrate it more easily. After all, what Microsoft lacks most now is time."

Xia Jingxing smiled, "I heard that Google X Lab has recently been recruiting talents in browsers and operating systems.

Even opponents have to admire the brothers Larry Page and Sergey Brin. Every time Google enters a new field, it can always quickly strangle its opponents. This is no different for search engines and online advertising. "

Ballmer smiled faintly, "But they made a huge fall in front of you, Darren, and staged a Dunkirk evacuation on the social battlefield. Now they have all retreated to India, traveling across half of the world. It’s really far away.”

Xia Jingxing had a faint smile on his face. When your negotiating opponent praises you, be careful.

Sure enough, Ballmer changed the topic and said, "MSN will integrate Yahoo's portal resources, LiveSearch will integrate Yahoo's search resources, and Hotmail will integrate Yahoo mailboxes. The strength of Microsoft's various Internet product lines will be strengthened, giving Google a Normandy landing." "

Xia Jingxing remained silent, and Ballmer continued: "In addition, we will rely on the strong technical resources of Microsoft Research Asia to strengthen cooperation with Ali to help this e-commerce platform go out of China and onto the world stage."

Will your life be in vain if you co-author me? Microsoft gets all the benefits?

Xia Jingxing smiled and said, "The plan is grand, but you have to take the first step."

Ballmer knew that the other party was reminding him that if Vision Capital, Facebook, and Ahri did not get any benefits, they would not contribute in this transaction.

Without the input of these three companies, Jerry Young would not have moved forward with the Microsoft deal.

In other words, Microsoft couldn't give Jerry what he wanted, but the three companies could.

"Darren, as far as I know, Jerry Yang only holds 3.9% of Yahoo's shares as an individual shareholder, and he has only been CEO for more than half a year.

Shareholders elected him to that position, hoping that he would create benefits for all shareholders.

If you sacrifice the interests of shareholders just for personal interests, do you think it will cause any trouble? "

Ballmer smiled and spread his hands, "Of course, this is just a hypothesis and may not be true, but it is best to pay attention."

Xia Jingxing leaned forward, "Mr. Ballmer, Google's share of the search market has been increasing by one to two points every month for a year and a half. Microsoft and Yahoo's combined share is only 20% or 30%." Market share is gone.

Google is a very ambitious company and has swallowed up the Internet market. After growing in strength, it is almost certain that it will turn its attention to software and operating systems. "

Ballmer stopped talking. Time is one of their weaknesses, because Google will not wait for them to slowly negotiate a result.

In fact, Gates' instructions to him were to win quickly. If he wins Yahoo a day earlier, he will have an extra chance of winning.

As for some leftover materials, it’s a good idea to sell them off and save some acquisition costs.

This is a deal that’s good for you, good for me, good for everyone.

It's just that Ballmer is a bit stubborn and always wants to overpower Xia Jingxing in negotiations and gain some benefits.