Top of the Great Era

Chapter 2341 High value of intangible assets
When Zhou Buqi came to Kakao Group, he met the enthusiastic and ambitious Jin Fanxiu. He felt that this person had changed a lot, and his spine was obviously stronger and more confident.

It seems to have the momentum of a new chaebol.

In fact, the chaebol system in South Korea has social inevitability.

Under the social structure of a small country with few people, no matter how developed the economy is, the scale of the economy will not increase.Therefore, if South Korea wants to have a giant company, it must be chaebol-style, and it must be involved in all walks of life.

If you only work in a certain industry, the income scale is too limited, and it is difficult to become a business giant.Only by constantly expanding, expanding to all walks of life, becoming a diversified giant covering all aspects, will it be able to rival world-class giants in terms of revenue scale.

This is also the reason why there were several large consortiums in Japan back then.

However, Japan reformed very quickly. Although Japan is also a small country with few people, all Japanese companies have gone global and made money in overseas markets, which made up for the lack of a small local market.

Like those developed countries in Europe, there is no plutocratic system, so giant companies are rare.Occasionally there can be a giant company, and it must be a multinational giant.

Big countries like China and the United States are different. Many giant companies are not competitive overseas, but they can also become the world's top [-] by relying on the local market.

After all, the threshold for cross-border business is too high.

Only the top entrepreneurs have the ability to become a world-class multinational giant and sell their products all over the world.There are only a few such companies in China at present, counting and counting, that is, Haier, Gree, Lenovo, Huawei, Asda, and Changyou. Behind them are Mr. Zhang, Ms. Dong, Mr. Liu, Mr. Ren The boss and Boss Zhou.

Other companies are always less interesting.

Some companies' products are also very popular abroad, but they are all limited in scale.If the scale is too small, it can only be regarded as a competitive boutique company, not a giant company.

From the perspective of cross-border business, even domestic giants such as ZTE, Midea, Ali, Baidu, and Inspur are not satisfactory.

As for state-owned enterprises, almost the entire army was wiped out.

Unless it is that kind of rare minerals, there are no foreign countries but only domestic ones, so I have to buy them.

It is really difficult to become a world-class multinational giant, which means that this company is recognized by consumers from different countries, races, languages, and cultures all over the world.

Such companies are all treasures in the field of human commerce and commerce, and each of them can be recorded in business history.

This also leads to the development of Korean companies in the direction of chaebols, which is an inevitable trend.

Doing cross-border business?
It's so hard!

It is almost impossible to escape from death.

However, if the company wants to develop and expand its scale, it can only develop in a more and more diversified direction, becoming a new generation of chaebols, covering all walks of life, and exploring the local market as much as possible.

Kakao Group now has such a trend.

Now it only covers the IT field, social networking, e-commerce, news, instant messaging, streaming media, games, payment, group buying, takeaway, search, and a variety of online application tools.

It is simply impossible for these businesses to go overseas.

That can only be in-depth cultivation in the local market.

Jin Fanxiu had long wanted to discuss the future development plan of Kakao with Boss Zhou, so he took this opportunity to talk about it.

However, Yahoo Korea will be discussed first.

The report on Yahoo Korea provided by Yahoo is of little reference value.Zhou Buqi is more concerned about Jin Fanxiu's opinion, after all, he is the new talker in the Korean Internet industry.

Kim Beom-soo said: "I think Yahoo Korea's actual assets can reach 5-6 million US dollars, including fixed assets, contract assets, cash flow on the account, and rich and powerful technical reserves and intellectual property rights."

"There are really so many?" Zhou Buqi smiled, "In Yahoo's report, Yahoo Korea's assets are only 2.3 million US dollars."

"So low?" Jin Fanxiu was a little surprised, and then suddenly realized, "Actually, the most important asset is brand equity. Yahoo may be included in the statistics."

"Ah."

Zhou Buqi nodded.

Yahoo Korea actually has no decent assets. The so-called fixed assets are office buildings.This is ridiculous. Yahoo has been developing in South Korea for 15 years, and it has always been a rented office building.

If Yahoo does not withdraw from South Korea, it is good to say that the lease contract is also a positive asset.After all, Yahoo entered the game early, and the office building is located in the core area of ​​Seoul.Now that new companies are entering the market, if they want to rent this kind of office building, they can't rent it, so they can only go to the suburbs.

But if you withdraw, it will be miserable, you will have to pay a liquidated damages, and your positive assets will become negative assets.

Contract assets refer to those commercial contracts signed by Yahoo Korea, which can bring some benefits to Yahoo Korea.But these benefits are not even enough to pay the salaries of employees.Once it withdraws from South Korea, Yahoo will have to pay liquidated damages for these contracts, which also turns positive assets into negative assets.

The cash flow in the account is real, and Yahoo Korea now has a net cash of US$1200 million in the account.

These assets are actually nonsense.

The most important and most valuable assets, in fact, the technologies, patents, and intellectual property rights owned by Yahoo Korea are the core value.

Also, is the "Yahoo" brand.

Whoever buys Yahoo Korea will have the right to use the "Yahoo" brand in the Korean market.Yahoo, as a multinational giant in the IT field, no matter how it declines, this brand is there, and this is a monument in the Internet industry.

Kim Beom-soo also has the same opinion, "Yahoo Korea's most valuable assets are mainly intangible assets. The technology and intellectual property rights that Yahoo Korea has accumulated over the years, as well as the Yahoo brand."

Zhou Buqi asked with a smile, "How is Yahoo Korea's technology?"

Kim Bum-soo immediately became awed, "It's not an exaggeration to say that it is the number one in Korea. Yahoo entered Korea in 97, and was the first Internet company to enter Korea. The development of Internet technology in the early days almost all relied on Yahoo."

Having said that, Zhou Buqi also understands the positioning of Yahoo Korea here.

Just like domestic Internet companies.

If you want to do technology, you must dig people from Ziweixing, Baidu, Microsoft Research, and Google Research.

However, technology does not equal business.

Good technology does not mean good business.

In the past few years, domestic Internet giants have risen one after another, defeating the menacing Silicon Valley giants.These rising domestic Internet giants have solved many technical problems by poaching technical talents from Silicon Valley giants.

It is now 2012, and many Internet companies go to Microsoft Research to recruit people when they start a business or need technological innovation.

It's like treating Microsoft Research as a treasure trove of talents.

Whoever needs it, just dig a few.

The Microsoft Research Institute is equivalent to a horse farm, raising a bunch of Maxima, which are usually raised here to eat and drink.The Maxima is waiting for Bole's arrival, and then leaves the racecourse to sprint and gallop in the vast fields.

For Microsoft, of course it will be very aggrieved.

After spending money to raise so many Maxima cubs, and working hard to raise these cubs, they were all poached by others, and then turned to compete with Microsoft.

Is it tolerable or unbearable...

never mind!

As long as you have money to make, you can bear it!
With such a large domestic market, Microsoft earns tens of billions from the country every year.To make money, even if you encounter some uncomfortable things, you can endure them.

Yahoo's positioning in the South Korean market is similar to that of Microsoft in the domestic market. It is a long-distance horse farm for Internet technology.

The difference is that Yahoo Korea has no money to make.

Year after year of losses.

Still so aggrieved.

It can only be withdrawn from the Korean market.

Google China also withdrew in the same way. Not to mention making no money, it still needs to help its competitors to cultivate talents...then bye bye!In a sense, these domestic Internet giants are actually "cultivated" by international giants such as Microsoft, Google, Oracle, and Yahoo.

That is, the national policy of "market for technology".

If there is no money to make, who is willing to cultivate competitors?

So Yahoo's determination to withdraw from Korea is very strong.

Zhou Buqi doesn't care about these things. There is no competitor in South Korea that can pose a threat to Ziweixing.Ziweixing not only will not suppress, but will support, just like supporting Jin Fanxiu to make Kakao Group.

Jin Fanxiu didn't see all the thoughts of Boss Zhou, and asked tentatively, "Will Yahoo Korea really sell it?"

Zhou Buqi said: "It must be sold. Including all tangible and intangible assets, all Yahoo Korea's business and intellectual property rights, and Yahoo's brand in Korea. How about it? Is there any need for Kakao here?"

Jin Fanxiu smiled, "It depends on Ziweixing's support for Kakao."

Zhou Buqi laughed.

The Internet is a big copy, so the boundaries of intellectual property rights in the Internet industry are not clear enough, even you should stop copying, I just open source it.

The technology and intellectual property rights of Yahoo Korea have long been taken away by Yahoo headquarters.

Even if Yahoo Korea is sold at that time, this part of the intellectual property rights will be "shared", not if I sell it, I will lose it.

Yahoo is a wholly-owned subsidiary of Ziweixing International, and Yahoo Korea's technical reserves are of course stored in Ziweixing International's technology warehouse.

If Ziweixing International's support for Kakao is strong enough, Yahoo Korea's technical reserves can be directly shared with Kakao for free through Ziweixing International's technology warehouse.

What else to buy?

In the past few years, Kakao has developed so fast, Ziweixing and Ziweixing International have provided a lot of help.Even in order to help the development of Kakao's core product KakaoTalk, Ziweixing International shared part of the core code of Helo to help Kakao improve the product.

"However, Yahoo's brand is still very attractive," said Kim Bum-soo.

Zhou Buqi glanced at him, "Do you want to buy?"

Jin Fanxiu nodded, "For Kakao, the technical reserves of Yahoo Korea... are not very attractive. With the support of Ziweixing, Kakao has hardly encountered any technical problems. But Yahoo's brand is too attractive. This will even trigger social effects and become a symbolic event in the Korean Internet industry!"

(End of this chapter)