Rebirth, you call this an honest man?
Chapter 223 The Battle for Facebook Management
Zach came back to his senses after hearing Shan Menghan's question and said,
"Hello, Mrs. Wang, I'm sorry to disturb your rest. Here's the deal. Facebook is holding a board meeting today. Mr. Wang's friend Ms. Lin Wenying will compete for my Facebook management rights at the board meeting. At that time, Wang
The investments brought in by my husband originally supported me.
In the end, because Lin Wenying used certain methods, most of the shareholders attracted by Mr. Wang supported her, so I called Mr. Wang just to ask for his help to win over several shareholders to support me."
"Is Lin Wenying trying to steal the CEO of Facebook?"
Shan Menghan was a little surprised. Although Wang Heng said that Meituan would have the strength to compete with Xixi, after all, it was not there yet. She thought it would be difficult to get the CEO of Meituan justifiably. She saw that Wang Heng was not willing.
Unexpectedly, Lin Wenying was even more powerful. Facebook was valued at US$15 billion, and now that Microsoft has joined, the valuation has soared to over US$20 billion.
There are now 100 Meituan companies, and Lin Wenying dares to get involved in them. Why can’t she be the CEO of Meituan?
Thinking of this, she wants to support Lin Wenying's fight for Facebook's management rights.
It is too difficult to give birth to a child for Wang Heng, and although the cash reward of 500 million is a lot, she prefers this to controlling Meituan.
"Yes, Ms. Lin Wenying is just a college student who has dropped out of school. She has no experience and no ability to manage Facebook well. If Facebook is handed over to her, I think it will be a disaster for Facebook!
"
"You didn't drop out of school either?"
"No, no, I'm different. I founded Facebook. No one knows Facebook better than me."
"But what I know is not like this. The idea for Facebook came from the Winklevoss brothers. They asked you to build a website. If you use their ideas to make Facebook and take it for yourself, you are a thief."
Lin Wenying needs to fight for the management rights of Facebook, so she will naturally investigate Zach's dark history. But if Shan Menghan wants to make a career, she will naturally focus on Wang Heng's most valuable company.
So Shan Menghan also knows some relevant information about Facebook, not to mention that the Winklevoss brothers and Zach have already gone to court. There is no way Zach can cover up this kind of news.
After listening to Shan Menghan's words, Zach's face turned green. Is this still a friendly force? Who is this helping?
Seeing that friendly forces turned into enemy forces, Zach couldn't care less about the embarrassment and simply reported it directly.
"Mrs. Wang, Ms. Lin Wenying has an improper relationship with Mr. Wang. Mr. Wang came to the United States several times to live with Ms. Lin Wenying, so our interests are consistent and we cannot let Ms. Lin Wenying succeed."
Shan Menghan heard Zach's complaint and looked back at Wang Heng. She didn't know what Wang Heng was thinking, whether he supported Zach or Lin Wenying. After all, Facebook is such a huge network.
Although Lin Wenying is Wang Heng's girlfriend, now that Xiao Yan has given birth to a son for Wang Heng and has moved into Wang Heng's home, they all say that Lin Wenying has the upper hand, so it seems that Lin Wenying is not as successful as Xiao Yan.
So Lin Wenying and she should be from the same school. They are in the same university and belong to the same man. Shan Menghan and Lin Wenying have a little sympathy for each other.
Zach said Lin Wenying's fault was equivalent to saying her fault, so Shan Menghan glanced at Wang Heng and hung up Zach's phone directly.
When Zach saw Shan Menghan hang up the phone without saying a word, he thought the complaint had worked, so he happily waited for the afternoon shareholders meeting.
After Shan Menghan hung up the phone, Wang Heng asked who called and what was going on.
Shan Menghan didn’t want to hide it either,
"Zach from Facebook called and said that Lin Wenying is going to compete with him for Facebook's management rights. They are about to hold a shareholders' meeting. Zach wants you to help him win over a few shareholders to help him."
"Oh, it's Zach. Don't worry about him. He's not clear-headed. He called me even though he knew Lin Wenying was my woman. Moreover, it was my permission that Wenwen wanted to take over the management of Facebook. Go to sleep."
Wang Heng also doesn’t know the other shareholders of Facebook, and his other equity interests have long been authorized to be managed by Lin Wenying, so he can’t help Lin Wenying.
After listening to Wang Heng's words, Shan Menghan's desire to control Meituan became stronger. Lin Wenying can control Facebook, why can't she control Meituan?
………………
Beautiful country, at 2:30 pm, Facebook held a general meeting of shareholders. Most of the shareholders were present. Those who were not present authorized their representatives to come.
For example, Sean is in jail, so it is his representative who comes,
For example, Wang Heng, his 5% equity voting rights are authorized to Zach, and it doesn’t matter whether he comes or not.
As Zach's number one enemy, Savarin arrived at the venue early,
At the beginning, he owned one-third of Facebook's shares, but Zach used means to drive him out of the management and dilute his shares. The hatred between the two has long been unresolved.
When Lin Wenying found him, he immediately agreed to support Lin Wenying and Zach in their fight for power. It would be best if Lin Wenying won, and she could drive Zach out of Facebook's management just like Zach drove him out.
He came here just to see Zach make a fool of himself. Although he owns the equity of Facebook, Facebook usually does not need to notify him of anything. He can only show his face during the shareholders meeting, so he must come here.
Zach was also upset when he saw Savarin. Not to mention that Savarin’s vote must have been won over by Lin Wenying.
He didn't know how many of the investment companies Wang Heng brought to him would support him, but it didn't matter. On the surface, the equity holdings supporting him already exceeded 52%.
So even if Lin Wenying woos all the shareholders brought by Wang Heng, and Savarin is also included, it only accounts for 47%. The advantage lies with him.
As for why he called Wang Heng for help, it was because he had an ominous premonition when he woke up in the morning.
After the time for the shareholders' meeting came, Zach came on stage to interrupt the discussion below and said in a deep voice,
"The convening of this shareholders' meeting was initiated by Ms. Lin Wenying. Its purpose is to compete for the management rights in my hands.
Everyone should understand the harm caused by capital grabbing management rights and driving the founder out of office. For the common interests of everyone, so please vote seriously."
This shareholders' meeting competes for management rights. Even 1% of the shares have voting rights, because only more than 50% can determine the outcome.
Therefore, even the representative of Microsoft, which owns a little more than 1% of the shares, was also present. Of course, he is generally not needed. Unless Lin Wenying or Zach gets 50 votes first, the votes in Microsoft's hands will play a key role.
,
Lin Wenying naturally would not be at a disadvantage when Zach was canvassing for votes. Although she had already secured the victory, she still had to go through the procedures. However, she did not canvass for votes, but directly exposed Zach's old background.
"As we all know, the idea of Facebook came from the Winklevoss brothers. They took the idea of Facebook to Zach to design the website.
However, after Zach created the website, he took it for himself. This kind of thief behavior was eventually sued by the Winklevoss brothers. Although Zach had already divorced each other, his personal mistake cost the company 6,000
Wan pays for him,
In this regard, I have reason to believe that in the future, when Facebook's valuation increases or it goes public, the Winklevoss brothers will not regret it and continue to bring up old matters.
Therefore, in order to prevent Zach from causing damage to the interests of all shareholders and causing serious difficulties and impact to the company,
I suggest replacing the CEO in a timely manner and readjusting the company's development strategy so that more capable people can continue to lead Facebook forward and create better and more benefits for everyone, so please vote carefully."
Lin Wenying did not use Zach to dilute Savarin's equity and drive him out of the management.
Because Zach did this in a reasonable and legal manner, and it cannot be ruled out that Wang Heng will dilute the equity of other shareholders in the future.
It can’t be said that Zach completely stole the Winklevoss brothers’ idea.
In the beginning, in order to get revenge on his ex-girlfriend, Zach created an online photo library software, which included photos of all Harvard girls and allowed others to rate their appearance.
Zack only made this website to gain a sense of presence, but its popularity was unexpected, attracting 20,000 visits within two hours, and even causing Harvard's network to crash.
Then it attracted the attention of the Winklevoss brothers. After the photo scandal, the two brothers approached Zach and proposed a bold entrepreneurial idea that no one had ever tried successfully before - an online social network.
Initially, this network will be named "Harvard Sorority" by the three people, and its main function is to provide Harvard classmates with the possibility of finding dates online.
What Zach needs to do is provide technical support to the Winklevoss brothers.
Zach showed a strong interest in this, and he verbally agreed to the Winklevoss brothers joining the team.
However, in the following months, after Zach smelled the future of this website, he found various reasons to refuse to meet with the Winklevoss brothers.
Later, when Facebook was born in early 2004, the Harvard fraternity was naturally stillborn.
The Winklevoss brothers believed that Zach had plagiarized their ideas. They complained to the Harvard School Committee, but received no response from the school.
So they took Zach to court. The lawsuit lasted for a long time. It was not until 2008 that the two parties reached a settlement agreement. The two brothers received a cash compensation of US$20 million and Facebook stock worth approximately US$45 million.
.
On the eve of Facebook's IPO in 2011, the valuation exceeded US$100 billion. Upon seeing this, the Winklevoss brothers believed that the 65 million that Zack had previously compensated them was too little, and took Zack to court again, but this time it was directly rejected by the court.
,
In the parallel world, Zach and the Winklevoss brothers fought a lawsuit for four years. It was because they had no money that it was only in 2008 that Zach chose to settle.
In this world, Wang Heng raised one billion in one-time financing, so Zach reconciled with the Winklevoss brothers very early.
Zach's stain could not be washed away, so he could only watch Lin Wenying take it out on the board of directors and say,
In addition, the Winklevoss brothers are famous bad boys, and the shareholders present have obviously heard of their reputation, so the situation at the scene is very unfavorable to Zach.
Zach didn’t defend himself and said directly,
“Everyone, Ms. Lin Wenying is just a student from a third-rate university in China. She dropped out of school last year to work as an intern at Facebook.
During her internship, she did not make any contribution to Facebook. If everyone had believed Ms. Lin Wenying’s words and allowed her to obtain the management rights of the company,
I believe that under her leadership in the future, not only will the value of the equity in your hands not increase, but the value of the equity in your hands will shrink, so for the future of the company, please vote for me."
Lin Wenying did not fall behind and retorted,
"If the company is handed over to Zach, he will have sole power. If it is handed over to me, I will form a senior management committee of Facebook and choose 6 senior executives to manage and develop the company with me. I believe I will be more qualified than Zach to run Facebook."
CEO of .com."
The so-called seven-member management committee has no role at all. As long as Wang Heng holds the controlling rights, he can take up the post of chairman at any time and replace the company's management. Therefore, Lin Wenying's words can be regarded as deceiving people.
…………
On the stage, Zach and Lin Wenying were canvassing for votes.
The shareholders in the audience began to vote, and the two fixed votes were cast first.
Lin Wenying managed Wang Heng’s remaining 42% equity representative and voted directly for Lin Wenying.
As for Zach’s management, and the original angel round investors, almost 46.6% of the equity also voted for Zach.
There are still three people who have not voted, one is Sean’s representative with 4.75%, one is Microsoft’s representative with 1.34%, and the other is Savarin with 4.75%.
Savarin didn't vote for Zach. Zach knew it, but he didn't think that Sean's representative didn't vote either.
You must know that the first CEO of Facebook was Sean. Although Zach is the founder and major shareholder, he is responsible for technology.
At first, the management of Facebook was in the hands of Sean. After Sean came in, he personally handed over the management to Zach, the technical guy.
So Zach never thought that Sean would rebel. When he saw that Representative Sean hadn’t voted yet, Zach couldn’t help but said,
"Didn't Sean tell you to vote for me? Why are you still hesitating?"
Then Savarin laughed,
"Zach, you also have today, hahahahaha... Stop dreaming, let me tell you, in order to bring you down, I chose to reconcile with Sean, so his vote is for Ms. Lin Wenying
of."
As Savarin voted for Lin Wenying, Lin Wenying now had 47 votes.
The 1.34% offered by the Microsoft representative on the field did not work at all, so he simply abstained and sat together to watch the excitement.
The whole audience was waiting for Representative Sean to express his position. At this time, Representative Sean felt that he had reached the pinnacle of his life.
He will decide the ownership of a super company valued at US$20 billion. He almost peed.
He even felt that he really had the power to decide such a big thing, and he felt a little arrogant.
At this time, no one bothered him anymore. Although Lin Wenying got Sean's promise, it was still a verbal agreement.
Sean has the right to go back on his word at any time, unless he directly writes a letter of authorization to her.
Of course Sean's representative did not have the power to make the decision on his own. After enjoying the highlight moment for a while, he decisively voted for Lin Wenying.
At this moment, the shareholders represented by Lin Wenying cheered on the spot,
The shareholders represented by Zach were a little downcast.
Zach never thought that he would lose. Wang Heng obviously supported him. Wang Heng attracted so many investment companies. In the end, except for Wang Heng himself, all other votes went to Lin Wenying.
Wang Heng was so useless that not even a single shareholder came over to him.
The other was Sean. Sean's betrayal caught him by surprise. He doubted that anyone had doubted Sean.
However, he never thought about how reliable a person who betrayed his brother could be. As long as the benefits were sufficient, Sean would naturally betray Zach.
You know how useful U.S. dollars are in a beautiful country. Isn’t it easy for Lin Wenying to bribe a person in prison with the U.S. dollars given by Wang Heng?
Although Zach could also use Facebook's funds to provide Sean with a comfortable environment, of course this was against the law, so he subconsciously didn't want to.
The 60 million in cash was a settlement between Facebook and the Winklevoss brothers, not Zach personally, so no one can say anything wrong when Zach spends it.
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