Top of the Great Era

Chapter 2337 The Virtue of Diligence and Thrift

The next day, Zhou Buqi went to Korea, and Xu Baihui went with him.

Recently, S/M Entertainment is cooperating with Jieyu Media to jointly launch a new girl group.The new girl group will be a multinational force, mainly composed of girls from China, Japan and South Korea.If possible, choose another American Asian or go to Southeast Asia to find a mixed-race girl left behind by a white man, so as to open up the European and American markets in the future.

This is the butterfly effect.

At least there was no such girl group in the previous life.

Xu Baihui held a lot of power, so she asked Boss Zhou, if you want to reserve a few for him... all of them can be reserved for him, it will be done!
Zhou Buqi resolutely refused, "Do your business well!"

From the capital to Seoul, it's here in no time.

On the plane, Xu Baihui chatted with him, "Why are you going to Korea? Can you tell me?"

Zhou Buqi laughed and said, "What's so inconvenient?"

Xu Baihui rolled his eyes at him, "I'm not worried that you have some commercial secrets."

Zhou Buqi said: "Even if it's a commercial secret, it shouldn't be hidden from you, right?"

With a smile on the corner of Xu Baihui's mouth, she was beaming, "It's not too bad!"

Zhou Buqi said, "Go see Li Zairong and talk about Yahoo."

"Yahoo?"

Xu Baihui was very strange.

As the boss of Zhou, he went to South Korea in person and rushed to see Li Zairong, more or less in the intention of asking for help.This is not right, what can Yahoo beg Samsung Electronics to do?In order to get through the relationship with Samsung mobile phones?
Zhou Buqi said a little angrily: "Those Yankees are really used to living a rich life. They know how to waste money every day. Even Lu Qi is the same. Maybe it's because they have lived in the United States for too long. The Chinese nation's tradition of thrift and housekeeping Virtue is gone."

Xu Baihui couldn't help laughing, "What's the matter?"

Zhou Buqi said: "Didn't Yahoo have an accident last year, and then reorganized the board of directors and replaced a new CEO. After the new team came to power, the first thing to do was to increase revenue and reduce expenditure."

"Ah."

Xu Baihui nodded slightly.

She also heard some, Yahoo was a mess.It is precisely because Yahoo is in such a mess that this gave Boss Zhou the opportunity to sneak in and buy Yahoo.

Zhou Buqi said: "The CEO of Yahoo is named Thompson. He is a good person, but his thinking... is too American and too wasteful. At that time, Yahoo's business in South Korea had fallen into losses for the fifth consecutive year. He felt that Yahoo There is no chance to turn around in the Korean market, so I plan to exit Korea and stop losses in time.”

Xu Baihui said softly: "Well, we should withdraw from Korea. I always go to Korea, and I know it quite well. Their people love China, and they like to use domestic products, and they are unwilling to use foreign products. Internet giants are South Korea’s market share is very low.”

Zhou Buqi nodded, "It's logical."

"Ah?" Xu Baihui was a little confused, "Isn't the reality?"

Zhou Buqi said: "Yahoo wants to withdraw from the Korean market in order to cut costs and save money. However, Yahoo has more than 600 employees in Korea, and there are many signed business contracts. If it withdraws, Yahoo will have to Paid more than $9000 million in severance and liquidated damages."

This is typical American thinking.

If you see something bad, just throw it away.

For example, if you eat watermelon, you can cut at least half of it and throw it away; for example, if you slaughter cattle and sheep, only the best part of the meat will be left for sale, and the rest will be thrown away; Thousands of catties of grain may be scattered in the water... no one will pick it up, and it will be swept directly into the sea to feed the fish.

This is often the case when many large companies undergo business restructuring.

If you don't need it, just cut it all off!
Therefore, in this process, it often takes a staggering restructuring cost, which can be hundreds of millions of dollars.

Zhou Buqi suffered this loss when he reorganized Ziwei Star Global. Seeing the terrifying restructuring cost of 10 billion US dollars, he was too shocked to speak.

Fortunately, he took SoftBank along with him at the time.

enough money.

As long as you get things done, the extra money is worth it.

Reorganizing Yahoo won't do it.

In order to acquire Yahoo, Ziweixing International used half of the stock transaction and half of the cash delivery, and it had to spend nearly 120 billion U.S. dollars for this, which is an unimaginably huge sum.

In order to raise funds, Zhou Buqi carried out a wave of hype, selling part of the shares he held in Ali, Yahoo Japan and Facebook.The cash in Ziweixing International's account and the cash in Yahoo's account were pooled together, and it was considered a barely successful fundraising.

As a result, Ziwei Star International has no money on its books.

Another urgent issuance of corporate bonds with an interest rate of 10 billion US dollars as high as 9% was considered to maintain the basic operations of the company.

This is also the reason why Boss Zhou has acquired Snapchat and Shopify in succession in recent days. There will be many different opinions internally. It is really a bit indigestion.

Ziweixing International has not yet been listed, and financing is very difficult.

Now the company's corporate debt has reached 85 billion US dollars, which has basically reached its peak.If you want to issue more corporate bonds, you must either go public to endorse the stock price, or you must promise a high return with an annual interest rate of more than 10%.

Ziweixing International must save money.

Zhou Buqi knew it well.

So if you want to intervene in Yahoo's restructuring, you can save a lot of money.

Might as well make money!
"A severance package of US$9000 million?" Xu Baihui was shocked, "So much?!"

Zhou Buqi said helplessly: "Yes, their labor costs are high. Fortunately, there were many conflicts between the management and the board of directors in the past few months, and the plan to withdraw from Korea has not yet started. After I took over Yahoo, Thompson followed up with I made this suggestion, and it was immediately stopped by me."

"Stop it? Don't you want to withdraw from the Korean market?" Xu Baihui frowned slightly, a little suspicious, "You can lead Yahoo to revive in the Korean market? This is unlikely, right?"

Zhou Buqi said with a smile: "Of course not. If I can handle the Korean market, I won't support Jin Fanxiu to establish the Kakao Group in South Korea. Ziweixing's business will go directly."

Xu Baihui saw that he was smiling, so she knew that he should be on the right track, so she breathed a sigh of relief and asked softly, "Then what are you going to do? Find Lee Jae-yong? Get Samsung Electronics to help?"

"Correct."

"How to help?"

"Sell him Yahoo Korea."

"I knew it!"

Xu Baihui hid her mouth and laughed, overjoyed, this is indeed Boss Zhou's style.

Zhou Buqi said with emotion: "Many people start wasting money when they have money, and forget the glorious virtue of thrift. Many rich people throw away their old clothes if they don't like them. But these high-end clothes , Even if you buy it in the second-hand market, you can still sell it for a lot of money.”

Xu Baihui laughed and said: "Yes, there are many female stars in Japan. They have become a big industry by selling stockings, shoes, and original bras and underwear to the public. They are really thrifty."

Zhou Buqi said: "Yes, the principles are the same. Some people see things that are discarded, but others are dreams. Businesses that big companies don't like and want to throw away are very important to many small companies. Enterprises may be willing to pay any price to get it."

Xu Baihui couldn't stand his bragging, "Has Samsung Electronics become a small company?"

Zhou Buqi said: "Samsung Electronics specializes in electronics. In the Internet field, their strength is indeed very weak. In the past few years, Yahoo has been providing software and mobile services for Samsung's hardware products. This A few years later, Ziwei Star rose up, and the bigger orders fell into the hands of Ziwei Star."

Boss Zhou has such a good relationship with the Samsung prince, which is somewhat of a face-saving project.

In fact, it is a bundle of interests.

Take what you need.

Zhou Buqi wants to make a lot of money in South Korea, and a big chaebol like Samsung is an unavoidable hurdle.Even if it can be circumvented, it will definitely cause fierce friction with Samsung.

This is completely unnecessary, one more thing is worse than one less thing.

Multiple friends have multiple roads.

For Samsung Electronics, it is not just as simple as making money, but also a long-term strategy for corporate development.

Samsung Electronics is very strong in the field of hardware. In terms of the comprehensiveness and autonomy of the industry, it can be called the world's number one. It dominates the market of mobile phones, tablet computers, and televisions.

However, Samsung Electronics has a fatal flaw, that is, the level of Internet services and software business is too poor.

It was fine ten years ago.

At that time, TVs and mobile phones were all independent, and the connection to the Internet was not so strong.Now it is different, hardware and Internet platforms have been connected, and the emergence of smart TVs and smart phones has completely changed the way hardware products are played.

Hardware products must not only do a good job in basic hardware, but also do a good job in software, and provide the best Internet service experience.

This is Samsung Electronics' biggest weakness.

How to do?
Samsung Electronics can't handle it well with its own strength, so it can only go to foreign aid and go to Internet companies to purchase related services.

Who should I buy from?

Google?

This is not good, Samsung already uses Google's Android system, and then buys Google's related technologies and services. Doesn't that completely tie Samsung mobile phones to Google?
In that way, Samsung mobile phones will completely surrender to Google, and they will no longer have any bargaining power.

Microsoft?
This is even worse. Microsoft also has a hardware business, and it also produces TVs and smartphones. This is more corrosive than Google.

Companies such as Oracle, IBM, and Adobe all have strong software, but poor Internet services.

Amazon is mainly engaged in e-commerce, and Facebook has not yet grown up...So in the past few years, Samsung Electronics searched around the world, and the only Internet giant that can match Samsung smartphones and Samsung smart TVs is Yahoo! up.

Since 07, Samsung Electronics has started a strategic cooperation with Yahoo, and then the business cooperation between the two parties has deepened.In the field of Internet service and software business, Samsung Electronics mainly relies on Yahoo.

It was not until the rise of Ziweixing that Samsung Electronics had a second choice, and gradually turned its main partner to Ziweixing International.

Especially Zi Weiyun.

There was no Ziwei Star in the previous life, and Samsung Electronics once relied on Baidu to provide technical support.So much so that the technical vice president of Baidu always went to South Korea to discuss business with Samsung Electronics and guide them to improve.

The vice president of technology is a woman, her husband is a well-known entrepreneur, the family is very rich, the marriage is open, and each plays his own way.Taking advantage of the opportunity to discuss business with Samsung and come to South Korea, she always went to S/M Entertainment, and met a handsome guy from the group EXO who was a trainee in South Korea.

She is both a godmother and a godsister. The most important thing she lacks is money, and she even pays the handsome guy liquidated damages to help him leave S/M Entertainment and return to China to develop.All the way up, he has no acting skills but endless resources, blockbuster movies, big IP TV dramas and popular reality shows, and he has gradually become a national idol.

(End of this chapter)