Rebirth in a Perfect Era Chapter 906: Full acceptance
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When eBay ’s vice president Tom Anderson interviewed Peter · Thiel, one of the founders of PayPal, Meg Whitman was annoyed by the board.
When there is bad news in the market, the decline in the share price is difficult to save by operations. Meg Whitman made the stocks of all shareholders shrink by 7% in one day. However, this is only the beginning. Muye Science and Technology signed a contract, Muye Science and Technology officially controlled PayPal, and eBay's stock price will fall another round.
Two times in a row, the stock price fell by at least a dozen percentage points.
Meg Whitman has been anxiously waiting for Tom Anderson, waiting for him to give himself feedback. If Tom Anderson fails this time, I am afraid that this matter will not be saved.
Just when Meg Whitman was in a hurry, Tom Anderson called and In short said happily: "PayPal and Muye Science and Technology together gave us a perfect offer!"
Meg Whitman immediately asked: "What offer?"
Tom Anderson ’s voice was a little trembling, saying: "Peter · Thiel just communicated with Elon · Musk and Li Mu on China on the phone, they have a new idea, and both of them are willing to let us Holding PayPal, but we can only take 51% of the shares, Li Mu's Muye Science and Technology takes 29% of PayPal, the original team accounts for the remaining 20%! "
Meg Whitman felt relieved in an instant, 51% was already good! Absolute holding is enough. Now I dare to expect so much, but when she thinks that Muye Science and Technology will also participate in the stock, she frowns: "That Li Mu also wants to come in? Will we become partners with him after that?"
Meg Whitman does n’t like Li Mu in her heart. A 20-year-old baby with a creamy China hairline has brought such great troubles and crises to herself. She does n’t want to be Li Mu in the future. Partner.
Tom Anderson said: "Li Mu's means, I hope that Muye Science and Technology and eBay will do the resource import for PayPal. At the same time, he is willing to use YY to cooperate with all countries except China to promote the business development of ebay. In return, we also To be bundled with his YY to enter the overseas market, that is to say, the two sides can reach a strategic alliance in the future. "
Meg Whitman was a little stunned.
Li Mu did n’t just want to invest in PayPal, but also wanted to cooperate with eBay, but also put aside the PayPal level, the two companies cooperated directly, which is really a bit beyond her expectations, but think about the pros and cons, Meg · Whitman's heart burst into excitement.
There is no way not to be excited! No matter what colored glasses I have for China internet companies and Li Mu, I cannot deny that YY's current momentum is indeed too fierce. Unlike eBay, any market in eBay needs to smash a lot of cash and resources to promote, but YY has Not the same, you can quickly capture the elite in this market without spending a penny. This kind of plague-like self-propagation power is what eBay dreams of.
If you cooperate with Li Mu, in the future, eBay will be able to reciprocate with YY for mutual benefit, each to meet the needs and grow together.
This is not the most important thing. The most important thing is that if eBay successfully controls PayPal, it will be able to survive the biggest crisis of its own. Moreover, if eBay and Muye Science and Technology establish a cooperative relationship, for eBay, it is another The huge positive news, by that time, eBay's stock price will skyrocket.
Thinking about this, Meg Whitman has made a decision in her heart. Both public and private, you must immediately agree to this offer, and let this offer landing as soon as possible, otherwise you will be too stressed, too big to carry Too.
At this time, Tom Anderson said on the phone: "However, PayPal and Muye Science and Technology have a relatively demanding requirement."
Meg Whitman blurted out and asked him: "What requirements?"
Tom Anderson said: "althoughPayPal is willing to allow us and Muye Science and Technology to buy shares at a valuation of 1.5 billion USD, but the problem is that they let us first pay the funds needed for his 29% of the shares for Muye Science and Technology. Muye Science and Technology signed a contract in the form of interest-free borrowing, and Muye Science and Technology repaid the money to us after the C round of financing. "
Meg Whitman almost vomited blood after listening.
It's not that you are angry, but you have finally seen the Li Mu's gameplay.
She knows that Muye Science and Technology is preparing for the C round, but there has been no clear news. This is understandable. The valuation of Muye Science and Technology is the same every day. Without talking about a suitable price, Li Mu will never let capital in easily.
If you want to finance it, you have n’t raised it yet, which means that Li Mu does n’t have a lot of cash flow. At a valuation of 1.5 billion USD, you own 29% of the shares. Li Mu needs to pay 435 million cash. Do n’t think about it. Rich money, otherwise who has so much money to go to finance.
And Li Mu is smart and sensible, Li Mu knows clearly that if he first raises capital and then buys PayPal, the capital must necessarily account for small advantage, so if he wants to own small advantage, he must first acquire and refinance. What if I have no money? Can only play the most shameless white wolf with empty gloves.
Now Meg Whitman has also understood that Li Mu is actually teaming up with PayPal, and has put himself in an army, pushing himself almost to the end. Now he is taking out such an attractive offer to seduce himself, If you agree, you will have to pay 435 million USD for Li Mu. In your heart, although is not happy to be the head of this injustice, but due to the situation, there is no way.
Once he agreed to this offer, Li Mu became a shareholder of PayPal without spending a penny, and although owed himself 435 million on the books, but the company's valuation increased far beyond this 435 million.
When I thought of this, Meg Whitman felt ten thousand grievances, but she was very helpless to realize that once she felt this grievance in her heart, it represented her subconscious mind already. Decided to accept.
So she said to Tom Anderson: "You come back as soon as possible, I will report to the board of directors, and wait for you to come back to call the board meeting together."
......
In the morning of September 20.
Before leaving for Muye Science and Technology, Li Mu deliberately wore a very decent formal dress and dressed himself with extra spirit.
There are two reasons for wearing formal dress: one is that I have already made a reservation and I will go to school to participate in the welcome party this evening, and give a speech to the newly admitted Junior Brother students at the party;
Another is the news that Muye Science and Technology only announced yesterday. This morning, a news conference will be held in Muye Science and Technology.
The reason for the development of the conference is very simple. eBay accepted its offer in its entirety, and even included lending 435 million USD to Muye Science and Technology to purchase Muye Science and Technology's 29% stake in PayPal.
This press conference is very large. Not only all domestic media are invited, but also all media reporters from developed countries in Yanjing.
At this press conference, Li Mu, along with Elon · Musk and eBay representatives, will officially announce to the outside world that eBay and Muye Science and Technology will jointly buy PayPal, and everyone will sign a contract at the press conference.
In addition, Li Mu will also announce that Muye Science and Technology and eBay will reach a strategic partnership on overseas market development. Once this news is announced, it will be great for eBay and Muye Science and Technology. Good excitement.
At present, the media does not know that Muye Science and Technology and PayPal have reached a cooperation agreement with eBay, so today's press conference will surely become a major news for the international internet industry, even the financial industry.
This time eBay is really neat and clean. I accepted my offer after the board meeting that day, and I did n’t care about sending someone to come from the United States. Everyone signed the contract. After the question, eBay directly entrusted their person in charge in China to sign the contract with Li Mu and Elon · Musk on behalf of eBay.
In fact, the core terms of the contract between the three parties are very simple. Both parties have 51% and 29% of the shares at the actual valuation of 1.5 billion USD. Within fifteen working days after the contract is signed, the two parties will pay the funds to the account. Then completed the entire shareholding process.
According to the formal process, before a company acquires shares or invests in another company, it must first do a complete due diligence and audit for this company, but Li Mu has caught up with all the diligence and audit work of PayPal. , EBay has already finished it, and it was done by an extremely professional team. At that time, it was done according to the 1.5 billion USD valuation. The valuation has not changed, so the Li Mu has given up the due diligence and audit. Approved this valuation.
Before officially signing the contract at the press conference, Li Mu will sign a loan agreement with eBay representatives in private, which will be lent to Muye Science and Technology, 435 million USD by eBay, and the money will be paid to Muye Science and Technology within three working days. American branch account.
The money is completely interest-free, and there is no clear repayment date. The repayment time is written as: repayment within 30 working days after the completion of the next round of financing in Muye Science and Technology and the amount of financing is received.
That is to say, if Li Mu still wants to refinance for a year and a half, eBay will not urge repayment, just wait for their own financing and then repay them.
eBay is rich in money. It has earmarked 1.5 billion cash from the stock market for the purchase of PayPal, and now even lent it to Li Mu's, it has only used 80%, which is 1.2 billion USD, so they do n’t have any funds for this. Pressure, for the board of directors behind eBay, they don't care about borrowing the Li Mu money. After all, once the three-party cooperation contract is signed, eBay can promote this huge good news in the United States overnight.
Once the money is in the account, it will be paid to PayPal by the US branch of Muye Science and Technology, and the entire shareholding will be officially completed, and the rest will be the separate debt relationship between Muye Science and Technology and eBay.