Wall Street Legend

Chapter 174 Apple comes again (33)

It’s no secret that China’s high-quality Internet companies like to get listed on Nasdaq.

It sounds like a forced choice. Ye Dongqing knows a little bit about the relevant information, such as the fixed requirements for profits. Technology companies often need to go through long-term financing and burning money in the early stage to achieve the company's final profit goal. But in the Pacific On the other hand, according to listing rules, companies need to achieve profitability before they can obtain financing. This alone shuts out a large number of technology companies.

In addition, the difficulty of queuing up for listing is also a key point, and the rule of different voting rights for the same shares is not supported. People call them "AB shares". The voting rights of B shares may be ten or twenty times that of A shares. Most of them Internet companies require a large amount of financing in the early stage, which will lead to a loss of equity.

Start-up teams often don’t hold many shares, but they have a lot of say in the company’s control. This is the same share with different rights, which not only ensures the company’s good capital circulation, but also prevents the founder team from being hijacked by capital and easily being Rich investors kicked out.

Judging from these factors, it is indeed better to list on Nasdaq, and the trading system is more open and transparent. Ye Dongqing supports Boni's idea with both hands, but the time chosen at the moment is not very good.

A group of people were walking on the street. The weather was already a bit hot at the end of May.

Ye Dongqing planned to take Bonny Ma and others to visit Apple without prior notice. However, with so many Apple shares in hand, it was almost impossible to be kicked out, so there was no need to worry about anything. We went there first.

He said to Bonny: "I support allowing Tencent to be listed on Nasdaq. I have met Mr. Bernard Madoff, Chairman of Nasdaq, several times at parties. I believe that the other party will be willing to help. However, I suggest It's best to wait until the end of next year, or the year after that, before going public. Tencent is already making profits, isn't it? By then, the shares will become more valuable. If necessary, I can provide you with a low-interest loan in a few months. Don’t worry about money for the time being.

The global Internet industry is still in a sluggish state, and there are some signs of recovery, but investors still lack confidence. It is not a good time to go public. Otherwise, I would also let Facebook go public, but like Tencent, its value is still undervalued. Yes, now IPO listing will lead to the loss of some long-term benefits. I know that many companies are developing very well even if they are not listed. I can help you solve part of the financial problem. Unless you are not optimistic about future development and hope to cash out part of it, otherwise I can't think of any reason to rush to go public. "

The reason why we are willing to provide loans is mainly out of long-term interests.

It will definitely lose money when it goes public now. Look at Google. It didn’t even think about going public until it couldn’t hold on any longer. Its current valuation is as high as over 10 billion US dollars.

In Boni's eyes, Ye Dongqing undoubtedly belongs to the type of person who is both smart and successful. He grew up in the United States and has a clearer understanding of the rules of the game. He hesitated and said, "Of course I am optimistic about our company. I don't have much money to spend." If you are willing to provide loans, it will be no problem to go public in four or five years. The performance this year has been very good, with profits of almost 30 million US dollars. In fact, there is no need to accept loans, but we can develop after getting the money. Gotta go faster.”

“Then I suggest you wait a little longer and have more patience.

Didn't you plan to go public in Xiangjiang last time? I haven't asked you why you suddenly changed your plan? "

"Because it is more troublesome, and I think investors here in the United States understand the Internet industry. After all, it is already a mature market. A few days ago, people from MIH Group also suggested that I come to the United States to list. They have the same idea as you and don't think it is necessary. If I am in a hurry to go public, I will seriously consider it, and I can probably wait a little longer," Boni said.

They had arrived at the building where Apple was located. Ye Dongqing made a call and went out, and soon someone came out to greet them.

The listing arrangements have been officially shelved. Neither Ye Dongqing nor MIH Group wants to go public in the near future and let their shares shrink due to the meager amount of public funds. I believe Boni will consider their correct suggestions.

…

The warrants have not yet been delivered, so Tamsui Investment Group does not have the right to appoint board members to help supervise Apple.

With more and more stocks in hand, Apple's top executives already know that he is a person. The executive responsible for reception is named Tim Cook, who will take over the position of CEO of Apple after Steve Jobs passes away. Currently, Tim Cook is still in charge of the company's operations and sales, and his abilities are quite good.

After introducing each other, Cook told Ye Dongqing: "The company's CEO, Mr. Jobs, is in a meeting. Judging from your recent move to increase your holdings of Apple's shares, it must be clear to my boss, right? No one will invest in a company that they don't own." A company you know.”

"I really hope to talk to Mr. Jobs in person. This is one of the reasons why I came here today. The sales of iPods have been booming recently. Maybe my vision is right. Those warrants may help me make some money."

"On this point, I think you don't have to worry. As far as I know, the premium of those warrants is not too high. Some shareholders have already begun to regret it."

One month after the launch of iTunes, sales of iPod music players surged, and the stock price rose slightly. In nearly a month, it rose by a few percent, which is not a huge increase. After deducting handling fees, Ye Dongqing still lost money. But he didn't say this at the moment.

You must know that this is just the beginning of Apple's success. It has been listed for almost 20 years, resulting in Apple's equity being very dispersed. Nearly a hundred institutions hold its shares. It is a waste of time to buy Apple shares from these institutions. The employees of the investment group are very energetic, and the harvest season is about to begin.

Bonny's English is not very good, and a translator is helping to tell him that there is almost no change from the last time he came here. Ye Dongqing is fully looking forward to meeting Jobs, and takes the time to take Bonny to experience Apple's corporate culture. He is trying to make this person A partner was inspired by something. For example, he realized that the Internet does not only exist on computers, but will also develop into mobile terminals in the future. This may be better than telling him directly.

It’s almost the same as before at Facebook. Take a quick look around. The focus of Tim Cook’s introduction is the R\u0026D laboratory. It’s been a while since the last visit. The new iPod and the next-generation prototype have just been developed. Extend the playback time to around ten hours and the memory becomes larger.

He personally acted as a translator and told Boni some of the conversation. It would be fine if other people came to visit. Unlike Ye Dongqing, he was about to become Apple's largest shareholder, so Cook's introduction was quite serious and he quietly told some of his prospects for the future. he.

To be honest, Ye Dongqing feels that some ideas are still too immature...