Rebirth of the Internet Overlord

After all, the anxiety in Ling Shengnan's heart is only known to himself, and a person's expectations for a thing will not affect the progress of the thing itself. At least in the face of the changes in the Skype acquisition, the Rothschild team has made a good decision after discussion

Quite a plan.

Faced with the Rothschild team members who once again sat at the negotiating table and argued hard, Meg Whitman readily accepted their changes.

After all, everything that happened in front of me was consistent with that person's original expectation. It seemed that there had been changes, but in fact, it was according to his calculation.

All she has to do now is wait and wait for that person to bring the situation to the next key rhythm.

Because, based on her understanding of that person.

He always has his own rhythm in doing things.

***+***

"Currently, we have secured two issuers, including Salomon Smith Barney and Morgan Stanley, as underwriters, so we only lack one securities firm in terms of the requirements for issuance of stocks."

Charles put the information aside and reported to Ning Zimo: "We will determine the remaining brokerage between Bear Stearns and Merrill Lynch. The issues that have not been reached with them currently focus on the issuance price of the stock."

"Someone wants to take advantage of the situation?" Ning Zimo smiled.

He had experienced something like this in his previous life when Luban Technology was listed.

At that time, Luban Technology was considered a well-known company in many high-tech industries, so many securities companies came to visit when it was listed. However, in the hot market, there were still securities companies who came to the door and promised to underwrite at relatively lower prices.

Obtain distribution rights.

You must know that the first batch of stocks issued by a popular company are extremely popular. If the market value of the company is not accurately positioned, it is very likely that the opportunity to raise a large amount of funds will be missed.

If the market accepts the value of 20 yuan but the issue price is set at 15 yuan, it is very easy for the brokerage to sell the stock and obtain a commission. But the price difference in this transaction becomes a loss for the stock owner company.

That's what taking advantage of someone's situation means, and Charles saw that Ning Zimo had figured it out right away, and he was no longer surprised by his judgment.

After all, after so many days of contact, he discovered that Ning Zimo was not a junior in the capital market.

Because he didn't know how he had such a sophisticated sense of smell at his age, he always attributed this sophistication to Ning Zimo's talent.

In Charles's eyes, Ning Zimo is not only an Internet giant, but a business giant!

Thinking of this, Charles shrugged lightly:

"For this listing, Bing has planned 2.5 billion shares and priced them at US$40. Currently, the shares to be put into circulation in the stock market are 25% of 625 million Class A shares, and employees need to sign a Class C stock agreement before the listing.

The Class B stock agreement that needs to be signed with senior executives has also been completed."

Seeing Lu Qi on the side smiling and nodding, Ning Zimo knew that he was very satisfied with the share agreement signed before the listing.

In fact, Ning Zimo himself is very satisfied with this structure.

After experiencing the shackles of his previous life, he learned the lesson and no longer indulged in capital.

Whether it is the Sequoia Capital introduced by Peter Thiel, or the stocks and employee and executive shareholdings in the capital circulation market, Ning Zimo has stipulated the three-tier stock rights of ABC early on.

In addition to Class B shares with the highest voting rights held by decision-makers, Sequoia Capital will receive Class A shares with the same rights, while the stocks held by employees will enjoy the same rights but will not be liquid. As for the circulation market

The stocks are all Class C stocks with the same tradability and rights.

This is the dual-class equity structure that Ford adopted when it went public in 1956 to protect major shareholders and discriminate against small shareholders. In its previous life, Google took these two-tier structures to the extreme and turned them into a three-tier structure.

These three types of stocks have the same face value but different voting rights.

Class A shares, with one vote per share, are sold to the public;

Class B shares have 10 voting rights per share and are not listed on the market;

Class C employee stocks have voting rights and benefits from U.S. stocks, but they cannot be circulated in the world, and the voting rights belong to company executives.

Currently, Class B shares are only held by Shengli Investment, an offshore company in which Ning Zimo holds a majority stake, and the trio of Luqi and Kaltix.

Although Class B shares have not been diluted too much at present, the three-tier equity structure and the vesting of voting rights for Class C employee stocks are destined to ensure that Bing’s senior management will be diluted more than their shareholding ratio due to development needs one day in the future.

, can still occupy more than 65% of the voting rights through 20% equity holding!

This will play a decisive role in the company's future development decisions.

Speaking of which, Ning Zimo didn't want Bing to go public because Bing had already started making money in the second year after its establishment. What's more, by 2007, Bing's annual profit had reached 16.1 billion US dollars, and its net profit had reached 40

A lot of billions of dollars.

There are a lot of troubles in going public, but due to the tradition of Silicon Valley, employees must have stock options or direct share awards as compensation. After those low-level employees hold shares, if the number of shareholdings exceeds the legal limit, they must disclose financial information as a public company.

For this reason, Ning Zimo had to make some efforts in advance on the equity structure.

The three-tier stock structure is constructed on this basis.

As for whether it will infringe on the rights of small shareholders?

Isn’t the United States a free country? Isn’t it also a form of freedom to set rules for a company?

Thinking of this, Ning Zimo added, "We need to ensure that we use a three-tier equity structure to stabilize the decision-making level of the company before going public. After all, Bing has always been at the forefront of the future direction of Internet development.

In the future full circulation field, if we cannot get the decision-making power, it will have a huge impact on the company's future development direction."

"I understand," Charles nodded, "here in the equity structure, the current three-tier structuralism guarantees the decisions of the company's top management. And no one at the company's top level has the need to cash out. So, we don't need to do any work in this area.

.”

It stands to reason that a company's listing is a good time to cash out.

But the strange thing about Bing is that Bing's executives have begun to achieve the ultimate TUP equity reward since the end of 2004.

By 2009, Bing's first batch of 5-year TUP award stocks will expire. At that time, all first-term employees who participated in the TUP award equity will receive the first award. This is the largest award amount in the 5-year period.

As company executives, the trio of Lu Qi and Kaltix will receive a reward of over 100 million.

At the same time, Bing's growth momentum in 2008 was very gratifying. Without October, Bing's annual revenue had reached 20 billion US dollars.

With such growth momentum, there is no need to cash out the stocks held by Bing executives.

Anyway, relying on the TUP reward plan, they have been able to earn considerable profits.

The remaining stock appreciation is treated as a continued investment in the company.

Although he thought about these truths clearly, Ning Zimo still smiled at the trio of Lu Qi and Kaltix:

"It seems that everyone is full of confidence in the future development of the company."

"Of course." Sepp Kammuwa smiled happily.

Bing was only founded five years ago. The energetic young man, Sepp Kammuwa, who was only 22 years old at the time, is now 27 years old.

While stepping up to the position of senior vice president of Bing, he watched Ning Zimo use various methods to help Bing develop into a dominant position in search engines without investing too much energy on his own.

For such an unknown leader, Sepp and his two partners have always admired him very much.

CTO Tal Haveliwala laughed at the side, "Boss, these are your exact words, 'We Emperor Penguins are not short of money!'"

We Emperor Penguins are not short of money. This sentence is what Ning Zimo often uses to relieve everyone's pressure whenever Bing needs development.

During those days when it was facing direct competition from Google, Bing experienced the danger of spending all its working capital to implement one thing several times.

Fortunately, we survived those times, and these words have been engraved in the hearts of Bing’s senior executives.

"Hahahahaha, that's right, boss, our Emperor Penguins are never short of money." Another senior vice president, Granger, laughed heartily on the sidelines.

For a moment, the three of them laughed so hard that they fell on their feet, and the time when they first met Ning Zimo flashed back in their minds.

Looking at the increasingly naive Ning Zimo, Sepp Kammuwa sighed, "Boss, don't worry. The current name of Bing Company was not only given to us by the legendary old man, but also the benchmark you set for us early in the morning.

.

We will definitely stick to what we decided this early. Not only do we want to pass on this name, Bing is a legendary story, but we also want to make it worthy of its name."

Time seemed to go back to that morning six years ago. Lu Qi sat next to the young Ning Zimo and heard a legendary story from an old man.

At that time, he didn't know what Bing meant. But looking back now, he seems to see what has been forged along the way.

The weight of time gradually increased in Lu Qi's heart. He thought for a while and turned to Ning Zimo and said, "Boss, after the listing, can we send this old man's story out? Not for Bing Ying, but for that person."

Those three words that the old man emphasized throughout his life."

"Curiosity?" Ning Zimo raised his eyebrows and laughed, "That's for you to decide. What I want to do is to find time to have a drink at his place after finishing these things recently.

Hand-brewed coffee.”

The difference in flavor between Sima Lin and Richard's hand-brewed coffee suddenly came to mind.

Ning Zimo smiled again, "I have to go back and tell him that a person has to go through different scenery in his life to appreciate the flavor of the current cup of coffee."

His words caused different scenes to appear in the minds of several people present.

But after all, people need to go a long way to appreciate the meaning that the scenes in their minds bring to them at a certain moment in their memory.

Charles looked at the melancholy of the founder of Bing, and for a moment he didn't know whether to continue.

While he was making preparations, he saw Ning Zimo turning to look at him.

"Charles, since all the preparations have been made, I will not stay here for the rest of the time." Ning Zimo paused, "Next, the contact work with the brokerage will continue. Then, we must

The public announcement period for equity interests must be controlled after Christmas.”

"Emmm, but after the public notice period, Bing's listing work can proceed." Charles was very puzzled.

"There's no need to rush. After all, after it was revealed during the public announcement period that I am a shareholder of Bing, some things will be difficult to proceed with." Ning Zimo smiled and winked at Charles, "There is still a stage waiting for you.

My last performance, when the show over there comes to a close, it’s time for you to give it your best."