Start from 1980

Chapter 1006 Company Listing
Because the founders of Cisco, Sandy Lerner and his wife, are not suitable to manage the company, they have not been able to enter the inner circle.

For the two founders, it was undoubtedly painful to be isolated from the company they founded.

Therefore, Lerner always provoked all kinds of disputes in management. The company's eight vice presidents couldn't bear it anymore and were going to threaten to resign collectively to force the board of directors to fire Lerner.

Although the founder firmly believes that her technology can create a successful business, she has never been able to handle things other than technology well due to her technical background.

She is more emotional than rational in her work.

One employee once commented: "Working with her is very difficult, hot tempered, yelling, harsh, and has a very blunt style."

And Lerner's husband, Bosack, is a more typical "technical school". He is not good at communicating with others, and naturally he cannot effectively manage his emotions with his grumpy wife. It is said that the two had separated in 1988. .

In fact, in February this year, Cisco should be listed.

It's just because the boss is not in the United States, so Morgridge declined the listing time.

After all, for such a big thing as going public, if the boss is not around, it would be too disrespectful to the boss.

In addition, Lerner is always making troubles. Although he did not object when he proposed the IPO plan, he is not optimistic about Cisco's future and always makes troubles.

Because the boss was not around, even Morgridge couldn't hold back the grumpy professor, so he could only wait for the boss to come.

As of December last year, Cisco had 12 employees (including 172 engineers), and all key functional departments were available. The revenue and profit of the year reached 35 million US dollars and 2766 million US dollars respectively.

This data is very attractive.

As long as it goes public, it means that the company can develop rapidly in the initial germination process of the Internet.

When Teacher Su saw Lerner, he was also unceremonious and told the founder directly: "I heard that you are the root of all Cisco's problems?"

"Me?" Lerner was startled, and then said: "No, I think they don't know how to manage, and I don't think Morgridge has the ability and doesn't know how to run a business."

Su Chen shook his head and said: "You are going to resign, you can choose to sell the shares in your hand to me now, or you can choose to wait until the company is listed, and then sell it to me. In terms of our past friendship, I can pay a premium Acquisition."

"If you want me to leave the company, I will not continue to hold the shares in my hand." Lerner said, "I don't want my capital to be with people I don't like."

"Okay, then how about I buy the shares held by the two of you at a price of 1.7 million US dollars?" Su Chen said, once the company is listed, if the shares held by the two of them are sold, it will cost at least [-] million US dollars.

If I sell it now, I can spend 7000 million less.

Then he reminded: "But from my standpoint, I hope that you will not completely give up the opportunity to grow together with Cisco."

"No, since you think I'm not suitable to stay in the company, then I choose to resign." Lerner is also a ruthless person, even more ruthless than Jobs.

Jobs had to keep at least 1% of his shares in order to participate in the board of directors, but she chose to sell them all.

Lerner and Bosack had a lot of opportunities to obtain greater benefits, but they were kidnapped by emotional factors, making them lose their most basic judgments on enterprises, industries, and major technological trends.

Su Chen nodded: "In that case, I will draft the document now to acquire the shares held by the two of you, but Mr. Posac..."

"I'll tell him."

Since he had no objection, Su Chen didn't talk nonsense, and directly asked Morgrich to draft a document to acquire the shares held by the two of them at a price of [-] million US dollars.

At noon, Bosak packed his things and left the company.

Morgridge reported to Su Chen: "BOOS, the launch date is at the end of this month, and it's the right time for you to come to Los Angeles at this time."

"Dude, you've done a good job, I have to consider raising your salary." Su Chen looked at this competent subordinate.

This person laid the foundation of Cisco's cultural tone. Without him and Chambers, Cisco probably would not have become a company with such a good market value.

Chambers was able to reach the later heights, and he also stood on the shoulders of this man.

Morgridge smiled and said, "Since the boss asked me to do this job, I will naturally do everything well. Do you need to review these documents?"

"Let me see." Su Chen said.

He doesn't understand technical things, but he is still very sensitive to commercial data.

……

On April 1990, 4, Cisco's stock was listed amidst the doubts and expectations of many people, which was delayed by more than two months from the original track.

The listing day was uneventful, with the stock opening at 18 yuan per share and closing at $22.20 per share, and most of the buyers were institutions.

If someone bought $1000 of Cisco stock on the day it went public, those shares would be worth $1999 by 10.

Because most of the buyers are institutions, few retail investors have made such money, while those institutional buyers have made a lot of money.

The money has been made, but some people should leave. The founder and wife of the company have left the company.

I don't know if they regretted selling their shares to Su Chen before listing.

But judging by the stock price, they are only making $7 million less now.

After Bosack and Lerner sold their shares, the largest shareholder is Shengshi, holding 67%, and the rest is jointly held by company executives, employees and other institutions.

This made Valentine so envious that everything turned purple.

Just like Li Cucumber, he felt that his luck was taken away by this guy.

So Valentine's Sequoia Capital is also among those buying Cisco shares.

When the company goes public, it is inevitable to hold a celebration banquet to invite these old subordinates to eat and drink together, and to have a blood fight or something.

This is the usual method of every boss, even Valentine is no exception.

"Guys, today, after so many years of hard work by everyone, we are finally taking this company public."

Su Chen took the microphone and spoke, "I didn't participate in the company's operation in the past, but now, I want to propose four major models of Cisco's customer service.

They are listening to customers, hiring technical salespeople, using the Internet, helping customers to help themselves..."

After announcing the four major models, he added: "So Oled and Tonyson must work harder to study our new model, and at the same time, in order to make Cisco a billion-dollar company.

Mr. Morgridge also wants to go beyond the original management style and make Cisco's production line go beyond routers.

Because it is very dangerous to put all your eggs in the same basket, once the basket falls, all the eggs will be broken.

I hope everyone stops thinking that routers are the future of the web! "

Everyone is confused, routers are not the future of the network, so what is the future of the network?

But everyone still didn't take what the boss said as a joke.

After a brief speech, Su Chen didn't say in detail what to do, and continued to eat and drink.

When the reception was over, Morgridge couldn't help asking: "Sir, what is the future of the Internet?"

(End of this chapter)