My Age of Investment

"Whether Yahoo should be involved, Mr. Sun doesn't count?"

Xia Jingxing gave Jack Ma a look, the old man has taken over as his substitute, so you don't say a word.

Sun Zhengyi also noticed Xia Jingxing's winking, smiled and said nothing, as if he was holding a wisdom pearl.

Jack Ma took a deep breath, "Daren, I also think it would be better to let Yahoo get involved!"

Xia Jingxing was stunned for two seconds, then flew into a rage, and slapped the table with a "bang", startling Sun Zhengyi and Ma Yun.

Especially Ma Yun, who shrank his neck suddenly, thinking that Xia Jingxing was going to hit someone.

Xia Jingxing was young and tall, if he really wanted to fight, he would not be able to win.

Fortunately, his worries did not come true.

Xia Jingxing stood up and said coldly, "Jack, are you kidding me?

If this is the case, Vision Capital will withdraw from Ari’s D round of financing. "

Jack Ma was about to defend himself, but Sun Zhengyi added fuel to the fire: "I have never seen such a low-quality investor, Darren, put away your prestige, please leave immediately."

Seeing the coldness on Sun Zhengyi's face, Jack Ma's face was full of worry and anxiety.

Xia Jingxing understood a lot.

Sun Zhengyi wanted to irritate himself and force himself to leave.

And Jack Ma was afraid that he would be fooled, so he left like this, and his strategy of combining vertical and horizontal alliances failed.

How could he be fooled by such a simple scheme?

In fact, table-patting and facial expression management are the basic operations of investors, in order to create a sense of tension, carry out psychological oppression, and facilitate negotiations.

Of course, you have to master the speed well, if the fake show is really done, it will be funny.

Xia Jingxing ignored Sun Zhengyi, looked down at Ma Yun, and said in a cold tone, "Jack, you need to give me a reasonable explanation."

Jack Ma is not stupid, seeing that there is still room for recovery, he quickly explained: "That's right, we want Yahoo to acquire the shares of Taobao from Softbank.

Vision Capital and SoftBank acquired the shares of Ahri from other investors.

Yahoo injected the acquired shares of Taobao and Yahoo China into Ari as assets, and Ari issued new shares to Yahoo.

Vision Capital and Softbank acquired 33% of the equity held by other shareholders, and when they issued new shares, they had to dilute it for a round.

Of course, Ali also needs a cash financing, which can be jointly provided by Vision Capital and Yahoo. "

Xia Jingxing estimated in his heart that this plan would be more beneficial to Yahoo, Softbank, and Ahri.

Yahoo China injected Ali, and Yahoo got rid of the burden at a high price.

Softbank cashed out a sum of money through Taobao's equity, recovered all its investment in Ali, successfully landed, and could continue to gamble in the future.

The "three-legged confrontation" originally planned by Ari has added a new vision capital, which has become a "four-nation struggle for hegemony".

As long as the three shareholders other than Ahri's management, any two of them combined do not exceed 50% of the shares, Ahri's control is relatively stable.

Of course, the sum of the three shareholders must be greater than 50%.

Because Ari's management currently holds a total of 47% of the shares, more than half of the shares have been lost.

Xia Jingxing thought carefully in his heart.

Ma Yun looked anxious, for fear that Xia Jingxing would refuse.

This is the most beneficial plan for their management. It was originally expected that the tripartite confrontation, the close relationship between Yahoo and Softbank, could hold more than two-thirds of the shares, close to 70%, which greatly threatened Ahri's management.

With Yuanjing Capital entering the market and becoming three external shareholders, the situation will be greatly improved.

But there is a premise in it, Xia Jingxing has to accept this plan.

If Xia Jingxing refuses, it will return to the original point.

Even if it returns to the original point and Yahoo continues to inject capital, the relationship between Jack Ma and Jerry Yang may not be restored to the past.

A trace of regret flashed in Sun Zhengyi's eyes, why didn't he drive this young man away?

He and Jerry Yang have joined forces to put pressure on Ma Yun these days, asking Ma Yun to exclude Vision Capital from financing objects.

They used all kinds of tricks, including ruthless words to liquidate Ahri's equity, no more investment, and so on.

Jack Ma was unmoved, and insisted on bringing Yuanjing Capital into the market.

Then they had no choice but to play the emotional card again, telling the story of Softbank and Ari getting acquainted in Weimo.

Ma Yun is very grateful to Masayoshi Son for his generosity, but he still refuses to back down when it comes to corporate control.

In order for Vision Capital to successfully enter the market, Jack Ma has paid a lot behind the scenes.

The reason why Sun Zhengyi wanted to isolate Vision Capital was because he saw the infinite dawn of Ari after completing this round of super-large-scale financing. He didn't want Vision Capital, which had nothing to do with them, to take a share of the pie.

Xia Jingxing thought about it for a while, and it was almost impossible to buy more than half of Ahri's equity.

Not to mention Sun Zhengyi's attitude, Ahri's management would not agree. Isn't this rejecting tigers before and welcoming wolves later?

If this goal cannot be achieved, we can only lower our expectations.

"We want 30% of the shares!"

As soon as Xia Jingxing said it, Sun Zhengyi sneered and said: "This is impossible, Jack said, priority is to ensure that Softbank holds 30% of the shares.

The management holds 31% to 32% of the shares, and the remaining shares are divided in half by Yahoo and Vision Capital, each holding 19% or 19.5%. "

Seeing that the words were opened, Sun Zhengyi simply explained: "In this shareholding structure, Ahri's management is still the largest shareholder, and with any investor, the shareholding and voting rights can exceed 50%.

As for the three investors, any two combinations will not exceed 50%.

It has to be said that this is a very ingenious shareholding structure.

I am very supportive of this plan, because it can make Jack feel at ease.

Only when Jack is at ease can Ali develop better and our shareholders can make money. "

Sun Zhengyi looked at Ma Yun and said, "Jack, am I right?"

Ma Yun smiled uglier than crying, and looked at Xia Jingxing with some guilt.

Looking into Ma Yun's eyes, Xia Jingxing complained in his heart why Ma Yun didn't tell him earlier.

In fact, Ma Yun also had no confidence, and wanted Xia Jingxing to face Sun Zhengyi's pressure in person and feel his own involuntary control.

Noticing the eye contact between the two, Sun Zhengyi continued: "Daren, don't be dissatisfied with this plan.

You should know that I don't welcome you to invest in Ahri.

It's Jack, fighting for you.

And Jack agreed that Softbank's shareholding reached 30%, so I reluctantly agreed to this plan and persuaded Jerry to agree.

How about it? If you are not satisfied, you can just get up and leave.

If you think it is feasible, then we will communicate the follow-up details. "

Xia Jingxing understood that Jack Ma, Yahoo, and Softbank had already reached a unity, and they also arranged for Vision Capital clearly.

Thinking of this, Xia Jingxing felt that Yang Zhiyuan was a little cowardly. If he wanted to hold 30% of the shares, it should be Yahoo. How could he get Softbank.

However, considering that SoftBank currently holds 20% of Ahri, it only increases its holding by 10%, which is not a big deal.

However, Vision Capital and Yahoo’s holdings range from 0% to 20%, which is a relatively large range, and the funds and assets required are far more than Softbank.

From this point of view, it is much easier for Sun Zhengyi to persuade Yang Zhiyuan, or Yahoo's management and shareholders.

The investment in Ali is too large, and Yahoo's management and shareholders also have different opinions.

Xia Jingxing thought about it for a while, and could only secretly scold Sun Zhengyi for being too cunning and too calculating.

Ma Yun is also a calculating man!

Relatively speaking, he and Yang Zhiyuan suffered the most.

Especially Yang Zhiyuan, who originally expected to hold 40% of the shares, was halved alive, and he didn't know what fascination soup was poured by Sun Zhengyi.

"Daren, can you give me a quick word?"

Sun Zhengyi spoke in a very bad tone, with all kinds of guns and sticks.

Xia Jingxing knew that this meant that he was dissatisfied with his sudden intrusion; it also meant to stimulate himself to leave quickly.

Of course, the most important point is that the other party has no friendship with Vision Capital, or even himself, and has no interest relationship, so naturally there is no need to praise him.

Xia Jingxing lifted his lips, and was about to speak, but was interrupted by Sun Zhengyi: "Don't mention the increase in shares, this is the final plan."

"It's very impolite to interrupt others. Is Mr. Sun Zhengyi also a low-quality investor like me?"

Xia Jingxing was suffocating in his heart, and he also insulted Sun Zhengyi.

Just as Sun Zhengyi doesn't need to buy his account, he doesn't rely on Sun Zhengyi for anything, and he doesn't have to worry about it at all.

And Ma Yun will support him, and the management of Ari is the one who makes the final decision.

It's just that Masayoshi Son has an early advantage of investing in shares, and he has a lot of influence on Yahoo.

Ma Yun has to take care of Softbank's interests and emotions in terms of emotion, reason and reality.

Sun Zhengyi was not angry when he was bullied, and sat there expressionless, with a very calm mind.

It can also be seen that the other party had intentionally provoked Xia Jingxing before, and it was not for any emotional dispute.

Xia Jingxing looked at Jack Ma, who smiled wryly and made an apologetic expression, very embarrassed.

"Anyway, I will not agree to this plan, unless Vision Capital holds 30% of the shares."

Xia Jingxing is not afraid of wearing shoes with bare feet, and now he has basically figured out the thoughts and fears of all parties.

Ma Yun wants to attract Vision Capital to enter the market, but he must set a scope of holdings for Vision Capital. This scope cannot threaten the management, and at the same time, it can check and balance Yahoo and Softbank.

Yahoo and Softbank teamed up to drive Vision Capital away, but Jack Ma was unwilling.

What Vision Capital wants to obtain can only be cut from Softbank and Yahoo.

Both parties are unwilling?

Then we can only put pressure on the hard-working Jack Ma, and let him be the doormat and lubricant between the three parties.

Sun Zhengyi knew exactly what the young man in front of him was thinking, so he just ignored it.

Time passed by, and the three of them were silent in the room, neither of them giving in.

In the end, Jack Ma couldn't bear it anymore, and said to Sun Zhengyi: "Why don't we stick to that plan, Ahri's management holds 31% of the shares, and the remaining 69% is divided equally among the three companies, each holding 23% of the shares."

Sun Zhengyi was very dissatisfied with how he could spit out the meat that reached his mouth. Moreover, this plan had long been rejected by him.

Now that Jack took it out again, did he rely on the support of the young man in front of him?

"no!"

Sun Zhengyi said decisively: "If you insist on this, Jack, then Softbank will liquidate all the shares in Ahri and Taobao, and Yahoo will also withdraw from its investment in Ahri."

Xia Jingxing would not be spoiled by the old man, and said with a smile, "Okay, we will take over all the equity."

Sun Zhengyi smiled disdainfully, "Let's not talk about whether you can afford the more than two billion, or even more than three billion dollars? Do you think Jack will agree?"

Ma Yun smiled apologetically at Xia Jingxing, which was not in the interest of their management.

Xia Jingxing quickly thought of a countermeasure in his mind, how to break the situation?

Now all three investors have reliance, and they all understand the biggest fear of Ari's management, no one can force the other to make concessions.