Rebirth of the 92 Business Tycoon

The second working day after the beginning of autumn, August 12, Tuesday, today is the busiest day since the establishment of NEXTDOOR.

Feng Yiping was unwilling to talk about the ostentation. He arranged the press conference in a small building of the company. Mike was leading a group of people downstairs to check the preparations. Upstairs, Feng Yiping and Jin Ling , Buchanan and Zhou Xinyu are chatting with the shareholders and management of Coin Star.

Yesterday, August 11, NEXTDOOR has signed an acquisition agreement with Coin Star. To a certain extent, it can be said that the two parties are already a family-except for those directors who are not in the company's board of directors.

Feng Yiping was very satisfied with the work of the original management of Coin Star. After listening to Feng Yiping's future plans and arrangements, the management was also very satisfied with the company's future development prospects. Most of the executives decided to stay.

Of course, although their positions will not be changed for the time being, because Merbach is still the CEO, future adjustments will definitely be necessary, such as key positions such as CFO.

Although they have changed their owners, these executives are as excited as Zheng Jiayi who came here on the first day. They are also yearning and looking forward to the new chapter that is about to open.

"This kind of mental state seems to exist only 2000 years ago," Merbach said, looking at the group of people, those who followed him since the beginning of the business.

"Thank you Feng, thank you for letting them and me again rejuvenate their entrepreneurial passion,"

"No, Merbach, I should be grateful to you. If it weren't for your support, the acquisition could not be so fast and smooth."

This time, it was able to negotiate an acquisition instead of being forced to make a public mandatory tender offer, which is a hostile acquisition. As the founder and CEO of the company, Merbach played a very important role in this.

He is less than 35 years old this year, and all aspects of conditions are at the peak. However, after the rapid development of the first few years of entrepreneurship, since the beginning of the new century, like many companies, the development of the coin star he founded has fallen into Stagnant.

This is the career and goal he has determined to fight for his whole life. Therefore, he has been thinking about new directions and ways out, but he has not gained anything. After a whole day of exchanges and arguments with Feng Yiping, Feng Yiping proposed Those actions made him impressed, and the future described by Feng Yiping also made him stunned.

From that day on, he has been an active supporter of the acquisition plan. Of course, as Feng Yiping promised, he is still responsible for the company's specific operations, and the company's name is still retained, which has a certain relationship.

In short, this is also a self-made billionaire who is also a self-made billionaire. Under the influence of Feng Yiping, he is full of enthusiasm and looks forward to his second venture.

His role as an example is crucial to Feng Yiping's next job as the management of Coin Star.

Those non-management shareholders of Coin Star were dissatisfied with the current status and rewards of Coin Star for a long time. Feng Yiping's quotation provided them with an excellent opportunity to leave the market.

These two items directly and profoundly affected the following process. If not, Feng Yiping would have to start a hostile takeover plan.

Not only will it increase costs in all aspects, but there are also considerable risks. This risk mainly comes from local governments.

Although the United States upholds the law of market freedom at the federal level to encourage and support mergers and acquisitions between enterprises, local states have opposed mergers and acquisitions, especially malicious mergers.

As the main enforcer of the company laws of each state, the courts of each state have always stood by the acquired company in the struggle between acquisitions and anti-takeovers.

Their interpretation of the relevant acquisition laws through legal precedents is often a very tolerant attitude towards the reverse acquisition strategy of the acquired company, while the requirements for the company that initiates a hostile acquisition are very strict.

This is actually a kind of local protectionism, because in the opinion of the state courts, maintaining the stable and continuous operation of local companies in the state and protecting the interests of the management and employees who have inextricable social and economic ties with the state is far more protective than protection. The interests of the "Predator", "Seagull", "Vulture", "Liar", and shareholders who do not know where they are, who attacked companies in this state are important.

Therefore, Merbach’s support and help has saved Feng Yiping a lot of time cost, opportunity cost, and of course, capital cost.

"Fon, Merbach," Buchanan walked over, "It's almost time, and the media has already entered."

He is very excited. This acquisition, as a forward, also made great contributions, and the acquisition of a NASDAQ listed company will also be another brilliant piece in his career.

In order to make this moment more brilliant, he did not hesitate to activate all of his relationships, not to mention the main media on the western side, and even the well-known media on the eastern side were invited by him.

"Then let's go down?" Feng Yiping smiled and stood up.

"please"

He and Merbach walked side by side, with Jin Ling following behind, and behind them were the executives of the two companies.

The small lobby downstairs was already crowded with reporters from all over the United States at this time. Most of them were not quite sure about what medicine Buchanan and NEXTDOOR were selling in the gourd. They were all walking with them at this time. Talking and guessing.

NEXTDOOR has developed rapidly and has expanded to Canada, and there are more and more functional sections on the website. What is the big news that Buchanan and the public relations department are talking about?

Seeing Feng Yiping and Merbach come together, some reporters who knew Merbach quickly had a guess, could it? What is the market value of Coin Star?

There are many reporters who have such conjectures. All of a sudden, the photojournalists began to take photos wildly.

Buchanan walked to the stage with a smile, "Dear guests, friends from the media, thank you for your presence. Next, I would like to invite our founder and chairman of NEXTDOOR, Yiping and Mr. Feng, to announce a company Important move,"

This is the first time that Feng Yiping, who is still enthusiastic in the United States this year, made a public appearance and spoke before so many American media.

Many reporters felt that this trip was the right one. A world-renowned scholar, the richest man in Mainland China, and an idol of young entrepreneurs in the world, Feng Yiping first publicly appeared as the founder and chairman of NEXTDOOR, who is currently popular in the US This is very newsworthy.

"Guests and friends, thank you very much for your support to NEXTDOOR. First of all, I would like to introduce a friend to you. He is the founder and CEO of Coin Star, Mr. Merbach,"

Merbach stood in front of the stage and waved to the audience with a smile.

"After a period of in-depth contact and communication, BlueSeaOne LLC, a subsidiary of NEXTDOOR,"

Feng Yiping used the name "Blue Ocean 1" for the new company established in Delaware for acquisition.

"Yesterday, a merger agreement was signed with Coin Star. After the merger, the name of Coin Star Company will not be changed. The original'CSTR' in Nasdaq is still in use. Please see later for specific matters. Announcement,"

"Wow," I immediately raised my hands below, "Feng" and "Feng", the reporters were yelling and wanted to ask questions.

"Andrew," Buchanan next to him called the Wall Street Journal reporter.

"Hello Mr. Feng, could you please tell me, why did you choose to cooperate with Coin Star? NEXTDOOR’s main business and Coin Star’s main business seem to have nothing in common,"

"The purpose of NEXTDOOR has always been to serve all of our registered members. This is also the starting point for all our decisions. The acquisition of Coinstar~www.wuxiaspot.com~ is our move to provide users with better services."

Of course Feng Yiping couldn't tell all the reasons now, so he only said this reason.

The second opportunity to ask questions was given to Yahoo's financial reporter. He asked Merbacher, "Why did Coin Star agree to the NEXTDOOR acquisition?"

"First of all, we believe that the two sides can complement each other. Like NEXTDOOR, Coin Star is also user-oriented, and NEXTDOOR has more than 30 million registered users."

"Secondly, the current development of Coin Star has fallen into a bottleneck period, and Feng has given a good solution to the current situation of the company. These solutions are beneficial to users and all shareholders of the company. The company’s development is extremely favorable,"

"We have always believed that with his outstanding vision and ability, Mr. Feng will lead the coin star, continue to move forward and reach another new height."

"Mr. Feng, the company you established this time is Blue Ocean 1. Will there be Blue Ocean 2 after that?"

…………

Ten minutes later, Yahoo released this news before the paper media, “BlueSeaOne LLC, a subsidiary of NextDoor, signed an acquisition agreement with CoinStar yesterday. NextDOOR will acquire all the shares of CoinStar with all cash of 491.6 million. The stock price is 19.2 US dollars. Such a purchase price is a 40.1% premium over the average share price of Coin Star in the past 40 days.

Although the amount of this acquisition is not large, because this acquisition is associated with the news of Feng Yiping and NEXTDOOR, this news quickly became the headline of the major media and aroused many people’s attention. Hot discussion. (To be continued.)