Reborn IT Giant

"Mr. Zheng is a legend in the investment community. Whether it was his initial investment in crude oil futures or his investment in the Internet, Mr. Zheng's gains are very enviable. So I have reason to believe that Yahoo's future will be limitless."

"It's just a pity that I am really not as good as Mr. Zheng in this regard, so I missed Yahoo's first financing, and it may even be the last financing. After all, with Mr. Zheng's Yahoo, it must be difficult to have more funds.

It’s a problem.”

Michael Moritz said it easily, but only he knew how much he regretted in his heart. If it weren't for this, he wouldn't have traveled thousands of miles to New York.

"Mr. Moritz was joking, I am just keen on investing in Internet companies, and many people know this. As for the future of Yahoo, I am not God, so how can I guarantee success? I am just betting.

"

As soon as Zheng Yan finished speaking, Michael Moritz took over, "In that case, would Mr. Zheng be willing to give up Yahoo's shares to Sequoia Capital? Mr. Zheng invested 20 million US dollars in Yahoo and received

I bought 40% of Yahoo’s shares, and I’m willing to pay double the price.”

"Getting a 100% return on investment within a few days is almost impossible in the investment world, but as long as Mr. Zheng agrees, we can sign the contract right away."

Michael Moritz was also testing. He wanted to know how determined Zheng Yan was to invest in Yahoo, so as to determine the scale of the subsequent negotiations. However, it was obvious that his method was used on the wrong target.

"Mr. Moritz, your conditions are indeed very attractive. Twenty million U.S. dollars, a 100% return on investment, and still can be achieved within a few days. I am afraid that everyone will be tempted, but Mr. Moritz, do you think 20 million U.S. dollars is enough?"

Is there any difference to me compared to 40 million?”

After hearing Zheng Yan's answer, Michael Moritz felt as if he had punched cotton. But Zheng Yan was right, there was no difference at all between 20 million and 40 million for Zheng Yan.

Michael Moritz said with a frustrated face: "Everyone knows that Mr. Zheng is the one who is most in need of money in the entire investment world. I actually want to use the profits of 20 million US dollars."

Impress you. Okay, I admit, I made a stupid mistake."

Just when Zheng Yan thought the topic was over, Michael Moritz spoke again.

"Mr. Zheng, I can only blame my own indecision for missing the investment opportunity in Yahoo. I know this very well. However, Sequoia Capital is indeed very interested in Yahoo. I wonder if Mr. Zheng can give up some of his shares? Or did I just

Buy with the conditions listed.”

Now Zheng Yan was a little confused. Sequoia Capital has invested in so many companies, so why did it focus on Yahoo this time? Is it just because it invested in Yahoo? But this doesn't make sense.

How did Zheng Yan know that because of the success of Netscape and the news they released at the press conference, the success of Elite Technology was already foreseeable. It can be seen that the rise of the Internet industry is inevitable, and Zheng Yan

Michael Moritz naturally wanted to try it due to his own influence.

"Mr. Moritz, your conditions are indeed very sincere, but you seem to have overlooked an issue. The funds invested by Yanhuang have always been rotated between different companies, but the Internet company invested by me has not been sold so far.

precedent"

"Whether it was the earliest Cisco, or the later Oracle, or even the exhausted Apple, even though there was no dividend at all, I still didn't sell it. Does Mr. Moritz think I will sell my Yahoo shares?"

"Almost all investors choose short-term investment, and some choose medium- and long-term investment. But I am different from them. I have always chosen to invest in the long term to catch big fish. If not necessary, the shares in my hand will be lost in a few years.

It will not be sold inside.”

Zheng Yan thought to himself: Are you kidding? Yahoo's peak market capitalization is more than 100 billion US dollars. I finally bought the shares at a bargain price. Why should I sell them to you at a bargain price? Just because of your Sequoia Capital brand?

It's quite a beautiful thought.

Michael Moritz certainly didn't know what Zheng Yan was thinking, but he had thought about being rejected long before he came to see Zheng Yan, so he was not disappointed at all and continued: "What if it is exchanged for shares?

Mr. Zheng needs to know that Sequoia Capital owns a large number of shares in listed companies."

"Exchange for shares?" Zheng Yan became interested now and said, "Mr. Moritz might as well talk about it. If it's the same shares that I'm interested in, it wouldn't hurt to exchange them."

It has to be said that Sequoia Capital is a miracle in the venture capital world. Its scale cannot be said to be amazing. However, according to incomplete statistics, Sequoia Capital has invested in more than 300 listed companies, which is why Zheng Yan is interested.

Michael Moritz was relieved when he heard Zheng Yan's answer. If Zheng Yan refused without hesitation, it would only mean that Zheng Yan was infinitely optimistic about Yahoo's future, and the regret in his heart would only be even greater.

"Mr. Zheng, you just said that you are also a shareholder of Apple and plan to continue to hold Apple's shares. Do you want to increase your shareholding ratio?"

As soon as Michael Moritz's words came out of his mouth, Zheng Yan became excited. Although Apple is a quagmire now, it will be a giant in the future. Just as Zheng Yan was about to ask about the specific terms of exchange, Bill Miller spoke up.

"Mr. Moritz, if I remember correctly, you told me that you were looking for Zheng Yan to discuss cooperation, so I brought you here. But are you talking about cooperation now? Why does it sound like a joke to me?"

"Apple was indeed very powerful in the past, but that was then. Since you, Sequoia Capital, also have shares in Apple, you should be aware of Apple's current situation. Under the pressure of Microsoft, it has almost lost its last living space.

"

"Although Yahoo is a new company, and no one knows what Yahoo will be like tomorrow, but since Mr. Moritz is so optimistic, it means that Yahoo has great potential, and you can at least bet on Yahoo's future."

"But what about Apple? Apple's future is basically foreseeable. If there are no big changes, acquisition is its only way out. And according to my understanding, currently within Apple, there are no people who want to sell Apple.

There’s a lot of noise.”

In fact, there is no need for Bill Miller to say that Sequoia Capital is the type of shareholder who is inclined to sell Apple. It is just because some people are firmly opposed that they want to take advantage of this opportunity to get rid of Zheng Yan.