I’m in Hollywood Chapter 1070: Frightening
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Unlike the blockbuster news focused on the media and entertainment version at the end of the year, Yahoo's IPO is a news event at the social level.
While the Nasdaq index exceeded 2500 points this week, the market value of major technology companies in the market has reached a new high.
According to the closing data of Eric when it reached New York on Wednesday, the well-deserved king of the Nasdaq market is Microsoft, and its market value has reached an astonishing 335900 million USD. In addition, among other star technology stocks, the market value of Intel is 157200 million USD, the market value of Cisco is 133.5 billion USD, the market value of AOL is 66700 million USD, and the market value of SUN is 38600 million USD ......
Among them, even the most profitable Microsoft, the price-earnings ratio has reached more than 100 times the bubble level. Therefore, the Nasdaq market at this time can only be described as "crazy".
Although only in the first three quarters, Yahoo has already achieved revenues of 1.2 billion 9 6 million USD, which is more than double that of 6. 3.6 billion USD last year. It is expected that the company ’s annual revenue growth rate will still be close to 200%. However, even if it is just calculated according to the 33 USD single share issue price, the market value of Yahoo 3 3.7 billion USD, combined with the profit expectations given by Yahoo, will still bring a price-earnings ratio of about 200 times.
Under normal circumstances, unless a company is extremely optimistic about the development potential of a company, otherwise, if the price-earnings ratio exceeds 30 times, it is difficult for this company to attract investors.
It is conceivable that the current Nasdaq market basically has few intellectual investors. In the temptation of huge short-term arbitrage trading profits, everyone is betting wildly and then secretly praying that they will not be the last receiver before the Nasdaq crash.
The Yahoo was launched in such a state of tightness, which is almost windy, and the timing is extremely sensitive. Although the stock subscription of more than 15% of the issuance was successfully achieved in the pre-IPO process, no matter who, even Eric itself, is not very sure whether the official listing transaction of Yahoo stock will become the last one to crush the camel straw.
Therefore, everyone has the mentality to do its best to make the worst plan. Near the last day of listing, the entire Firefly system is still making full preparations for Yahoo listing.
After a busy day, non-stop, in the evening, Eric originally planned to invite the executives of the Firefly system enterprises who came to the Yahoo bell-ringing ceremony to have a dinner together. I received a call temporarily and had to rush to Nass in Midtown Duck Exchange.
Although there are more than 12 hours before tomorrow ’s listing and trading, the Nasdaq Exchange on 42nd Street in Midtown has been packed with reporters from all sides.
As soon as the Eric ’s car stopped outside the exchange building, the group of sharp-eyed journalists immediately frantically gathered up. Countless hands holding camera and voice recorder crossed the bodyguards around Eric and reached him, a voice. A big reporter tried his best to stretch the recorder in his hand, suppressing all the loud voices around him: "Mr. Williams, we just got the news, the Yahoo team in the exchange seems to be in conflict with the top of the Nasdaq Group, Are you here to solve this matter? "
After hearing this reporter ’s sudden question, the other media people around were stunned, and immediately gave up the question, and at the same time crazily hoped that Eric could answer the question just now.
Through the siege of the reporters and into the building, Eric pulled down the suit that was ripped off, looked around, and turned his head worriedly, asking his bodyguard captain Carter Moen: "What about Mary?"
Carter said: "Miss Meyer is still in the car, the crowd is too chaotic, I just suggested that she rush over after you come in."
Eric nodded, waved his hand to the Steve · Mitnick assistant who was ushering in, and accelerated his pace to the Nasdaq Exchange Hall.
Unlike traditional stock exchanges such as the New York stock exchange and the London stock exchange, Nasdaq is actually the abbreviation of 'National Association of Securities Dealers Automated Quotation System' and belongs to the world's first electronic stock securities trading On the platform, users basically trade stocks through phones and computers.
Therefore, the Nasdaq Stock Exchange in the building on 42nd Street is more like a symbol. There is no comprehensive hardware and software trading facility in the exchange, and there are many sets around the hall to the world. The photographic equipment and live broadcast facilities that instantly disseminate the news of the exchange look more like a TV Station studio.
Unlike the New York stock exchange, which is a non-profit social public service organization, although the size and trading volume of listed companies have long been able to compete with the NYSE, in fact, Nasdaq is a guinas. The Duck Group is a profitable private company.
Seeing the appearance of Eric, the two men who had been facing each other immediately came together.
The Nasdaq Group CEO Frank · Saab expression was very excited and waved his arms to speak first: "Eric, I have a hard time understanding your thoughts, why do you need to temporarily perform technical maintenance and stress testing on the Nasdaq trading system This is simply unreasonable. I know you value the listing and trading of Yahoo, but the Nasdaq platform has been established for 27 years. We have never delayed the listing of any company for technical reasons. Your request is completely unnecessary. Moreover, to take a step back and say that even if you want to do this, it should be done by our company's own technical team. We can't open the server to outsiders for testing. "
Eric listened to Frank · Saab ’s complaints, looked up at his watch, and interrupted the other party: "How long will your technical team overhaul and test?"
Frank · Sabo waved his arm and paused before saying: "Eric, this is completely unnecessary."
"I insist," Eric's voice calmed down, eyes fixed on Frank · Saab: "Or, you continue to refuse, and then I cancel the listing tomorrow, there are a large group of reporters outside, you can now hold a press conference to announce this News. So, how long will your technical team overhaul and test? "
Eric insists that the Nasdaq Exchange carry out maintenance and testing of system equipment, which is naturally not unreasonable or unfounded.
In the past history, Faceb00k encountered a sudden failure of Nasdaq system equipment on the day of listing, which eventually caused the failure of the Faceb00k stock trading order worth 1 billion USD to be completed successfully, and even caused the share price of Faceb00k on the day of listing to a large extent. The "tragedy" of the issue price fell below, because of the unfavorable start, Faceb00k's stock price continued to slump in the following year, and the market value of the company at the lowest valley was only more than 30 billion USD, which was less than one-third of the market value on the day of listing.
So, if Frank · Sabo really insists on not compromising on this matter, Eric does not mind temporarily holding a press conference to urgently cancel the listing operation of Yahoo tomorrow.
The sudden burst of pressure on Eric made Frank · Saab suddenly soften. If Yahoo's listing operation is really canceled temporarily, although Firefly may face unpredictable losses, but he is also the CEO of the Nasdaq Group. Must be swept out by Board of Directors.
Unconsciously swallowing saliva, Frank · Sabo finally did not dare to spit out another hard word.
However, as the leader of the group, he really does not know how long it takes for the Nasdaq trading system platform to be overhauled and tested. After hesitating for a moment, he reported an inaccurate time: "Probably, it takes five or six hours."
"Since the market closes at 4 pm, you have been delayed for an hour and a half." Eric raised his hand and knocked on his watch, saying: "So, call your technical team immediately, Steve they must also start from I will assist and carry out the necessary supervision, whether it is six hours or twelve hours. In short, before tomorrow ’s transaction, do I have this problem? "
Frank · Sabo shook his head a little bit hard: "No, no problem."
"That's it, let's get started," Eric said, looked around, walked to a chair next to the camera next to him, sat down, raised his arms and looked at the crowd.
Frank · Sabo didn't dare to make any sloppy eyes anymore, took out his mobile phone and started to dial on the spot.
Steve · Mitnick waved to let everyone disperse, walked next to Eric, and also took a chair to sit down, smiled bitterly: "I had an argument with the original person in charge here for an hour, Frank · Saab came over, and noisy After half an hour, I can only call you over. "
Eric shook his head to say that it was okay, and said: "Wait later I will have dinner with Ian and John, you can only stay here."
"It's nothing," Steve · Mitnick smiled: "Suddenly I'm going to be a billionaire, I still can't believe it myself. My parents have always disliked me studying computer, think it is not doing business, even often I am worried that I will come to the streets in the future. "
After the last stock split and the last equity incentive plan before the IPO, Ian · Gnier and Steve · Mitnick, the two most important veterans of Yahoo, held 16 million shares, just according to 33USD Based on the issue price, both of them have exceeded 500 million USD. In addition, the number of shares held by Tina · Brown is 6 million shares, and the value of this stock is also close to 200 million USD.
That is to say, Yahoo has already created three billionaires before it goes public. In addition to the three core senior executives, there are another 48500,000 stocks distributed in the hands of Yahoo management and elite employees. Once listed, Yahoo will create more than ten millionaires and hundreds of millionaires at once. The history of enterprise development in the whole world is very rare, and it is also known as one of the signs of the technology stock bubble by some media.
Looking at the Steve · Mitnick with some emotions, Eric smiled and said: "So, you can tell your parents about this now and surprise them."
"My mother has been taken aback," Steve smiled a little more, and said: "She thinks that your Boss must have an abnormal brain before she can give so much money to employees."
"Yeah, I actually feel distressed," Eric joked as he covered his chest with a gesture.
In spite of this, Eric actually has no problem with such a large-scale equity incentive plan, and high equity incentives will naturally be tied to strict competition agreement restrictions.
In an era when Internet companies are springing up like mushrooms, Yahoo Group ’s elites who have been in the Internet industry since the three companies established in Eric have led the team away from Yahoo alone, it ’s easy to pull To venture capital and quickly accumulate sufficient wealth through IPO, it may even become a competitor of Yahoo.
But in fact, this has not happened. Yahoo has maintained the absolute dominance of mainstream Internet services such as web portal, e-mail, instant messaging, browser software, and even the latest search engines. In addition to Jeff · Rock and others who left when the first equity incentive plan was launched three years ago, in recent years, there have been few core executives leaving within the Yahoo group, mainly due to the company's generous equity incentives and strict competition. Industry regulations.
Although the total book value of the 96500,000 share equity incentive plan so far exceeds 3billion USD, Eric gains 30billion USD, and the pros and cons of which should be decided. The investors who want to have some foresight can understand.
Talking with Steve and staring at the exchange for a while, until Meyer walked over with a mobile phone and received a call from Ian · Gnier and others from the Plaza Hotel, Eric left to rush tonight banquet.
Early early in the morning, Eric woke up in the penthouse on Sixth Avenue at seven o'clock.
He came to the restaurant downstairs. Meyerr was ready for breakfast. When she saw Eric sitting at the dining table, the female assistant handed over a stack of newspaper.
"I will not watch it today," Eric shook his head and said, "We will be on the 42nd street before eight o'clock."
Meyer took away newspaper, served the breakfast of the two, and sat down opposite, saying: "The message sent by Mr. Mitnick at four o'clock in the morning, they have completed the maintenance of the Nasdaq trading system and Testing, the technical team of Yahoo and NASDAQ are still there, to ensure that there will not be any accidents during the entire transaction today. In addition, Mr. Katzenberg arrived at New York last night at 9 o’clock. For dinner, Katzenberg said that he will go directly to the NASDAQ exchange today. "
Eric added some milk to the oatmeal and nodded: "Well, also??"
Meyer continued: "The midnight show Box Office of" Mission: Impossible3 "is probably 9200,000 USD, which is lower than that of" Charlie's Angels3 "and" The Matrix2 "during the summer season."
"It's already good."
Eric did not feel any disappointment. North America has just experienced a large-scale cooling in recent days. It has snowed in many places on the east coast. Many people are reluctant to go out during the day, let alone go to the midnight movie in the early morning. In this case, the midnight show Box Office of "Mission: Impossible3" can still be maintained above 9million USD, and it has even been somewhat superb.
I heard a few things reported by Meyer, and Eric looked at the **** the opposite side: "Speaking of it, it will be Thanksgiving immediately. I will give you a holiday today after I'm busy. Go back and spend my family with Thanksgiving. Just come back next week. "
Carolyn is still recuperating, Meyer subconsciously wants to ask Eric what to do if he leaves him, and suddenly remembers something, and then closes his mouth, just nodded gently.
After breakfast, Eric took Meyer to the Nasdaq Exchange on 42nd Street. Compared with yesterday afternoon, although it is not yet eight o'clock, today's NASDAQ exchange is more lively and inside and out. Many guests who rushed to the Yahoo listing platform even appeared earlier in the transaction than Eric. In the hall.
Greeting everyone warmly, Eric then unexpectedly found two beautiful figures in the crowd, a little surprised: "Why are you two?"
Cindy picked up her badge and shook it at Eric, saying: "I am a star user of the Yahoo blog, Ms. Brown personally called me to invite me to the Yahoo platform."
Eric smiled and looked at Linda next to Cindy: "What is your brand?"
Linda reached out to grab the Cindy badge, but it was opened, and he lifted his chin in a somewhat depressed manner. The bachelor said: "No, you should drive me out."
Cindy came over and gently took Eric's arm, leaned into his ear and whispered with a smile: "She subscribed for 1.5 million shares, and the savings in recent years have been smashed into it."
"Large customer," Eric reached out and brought the little emotional Linda over, saying, "Okay, wait for me to ring the bell with me on the stage. But first, I do n’t care if I ’m locked up."
"I've seen you through," Linda leaned over reluctantly, nipped at the waist of Eric, and said, "Irresponsible man."