You call this entrepreneurship?

Chapter 265 Objection
"Cash Ability Co., Ltd."

Davis was stunned for a moment. He didn't remember this company being included in the information he had read, so he turned to look at his assistant.

His assistant was also desperately searching for information about Qvod.com. The information provided by Qvod.com was all from years ago. It would be weird if there was such information.

Seeing that the assistant had no results, Davis looked at David Banks again.

David Banks also looked confused and had no idea what was going on.

The YouTube team also looked at each other and started discussing and asking each other questions.

For a moment, the conference room was filled with noisy voices and the sound of shuffling papers.

Qin Shaoyan said impatiently, "Everyone, what do you think of this proposal?"

"If you have no objection, let's start the discussion based on this price."

Davis immediately said: "We object!"

He was very annoyed. The sudden and unexpected changes on Qvod caught him off guard.

The most infuriating thing is Qin Shaoyan. As a shareholder of YouTube and Qvod, the two websites have no secrets at all for him.

YouTube is one-way transparent to Qin Shaoyan, but Davis and others have limited knowledge of Qvod.

Qin Shaoyan immediately announced the reserve price of 240 million US dollars, so there was no point in negotiating.

Although everyone had already agreed on the price privately, Davis was still unwilling to give up and was wondering if he could bargain.

What if it succeeds? Even if it's only $10 million, it would be good.

Now, the other party has started to bring up the previous 360 million US dollars again.

YouTube's shareholder representatives have begun questioning David Banks, where did the $360 million come from?

David Banks was helpless and kept signaling to Davis.

Davis felt very sad because the 360 ​​million had something to do with him.

When Qin Shaoyan proposed that YouTube acquire Qvod, he didn't take it seriously at all because YouTube didn't have that much money to make the acquisition.

Later he thought this was a good opportunity for hype, and even if the acquisition could not be completed, it would help increase YouTube's valuation.

So Davis hinted to David Banks that it was okay to ask for a higher purchase price.

But no one expected that after such twists and turns, YouTube is actually going to acquire Qvod.

There was silence on YouTube, and Xiong Xiaoge, who was sitting on Qvod, suddenly spoke up.

"Yes, last time it was 360 million, why did it change this time?"

When Xiong Xiaoge spoke, Qin Shaoyan was a little surprised. You were silent just now, but now you become excited when the price increase is mentioned.

Zheng Nan from Sequoia was stunned at first, then immediately shouted: "Yes, I was there at the time, and it was indeed 360 million. You have to have business credibility."

Xu Xin opened his mouth, but he didn't feel like joining in the fun, so he just nodded to show his agreement.

All of a sudden, the shareholders of QVOD began to make noise.

What is "Business reputation is more important than anything else!"

"We must have a spirit of contract!"

"A verbal promise is still a promise!"

These people originally came here to disrupt the negotiations, so they would not let go of the opportunity.

What if, what if YouTube really relents?

Then the valuation of QVOD went up directly.

It was the first time that Yan Yan from SoftBank saw such a scene. He was stunned and then he joined the crowd in making a fuss.

Davis on the other side was so angry that his face almost turned black. He looked directly at Qin Shaoyan and said, "Mr. Qin, this is different from what we agreed on. Do you still have any credibility?"

Qin Shaoyan was shocked and asked, "What does this have to do with me?"

"Qvod shareholders have the right to raise questions and they have freedom of speech. You can't ban them from speaking, right?"

"Even if I take a step back, my shareholders haven't said anything wrong, have they?"

"Mr. Qin," Davis said, suppressing his anger, "You and I both know that the price of 360 million is simply impossible. Why bother discussing it?"

"Davis, if it's according to what we agreed before, it's 240 million US dollars." Qin Shaoyan said confidently, "But you changed your mind in front of me today, and I didn't say anything?"

"My shareholders are just expressing reasonable opinions, why should Mr. Davis get so excited?"

"Business is like a battlefield. Don't bring your personal emotions into work."

"..." Davis was speechless. These words sounded so familiar.

This seems to be my word.

Qin Shaoyan said slowly: "Since we have an agreement, let's abide by it and negotiate based on 240 million US dollars."

Davis fell silent, and the CEO David Banks next to him was also very melancholy. If you shareholders can talk directly to each other, what else do you need me as the CEO for?
The price has been set, what else is there to discuss? Just jump to the next step.

What remains is to confirm that there are still many details to discuss, such as auditing and risk investigation.

Investigation and research on aspects including production and operation, finance, taxation, guarantees, and litigation.

Discuss payment methods, cash, liabilities, assets, equity, etc.

Preparation of legal documents and confirmation of personnel arrangements for the management of the company after the acquisition.

Solutions for existing employees and other related issues, until equity transfer and payment.

Davis was still not giving up. "John, the price of $240 million is a bit inappropriate."

"Leave some money for YouTube. You are also a shareholder of YouTube. Even if it is less than 20 to 30 million US dollars, it will be fine."

"There's a Chinese saying that goes, 'You're only as good as your own.' If you make concessions on price, YouTube will compensate you in other ways."

Wow, you have studied Chinese culture in depth.

Qin Shaoyan didn't have the heart to talk to him about the palms and backs of the hands. He was eager to sell YouTube as soon as possible.

Now Qvod is the real son!

Qin Shaoyan sighed and said, "I'm sorry, I have to take responsibility for the other shareholders of Qvod."

Davis struggled for a moment, "Really? We can't surrender?"

"No." Qin Shaoyan said firmly, "Just follow our agreement."

Davis frowned and nodded slowly, "In that case, our next negotiation..."

At this time, Xiong Xiaoge interrupted Davis again, "Wait a minute!"

Everyone's eyes were focused on Xiong Xiaoge, but President Xiong was calm and composed, and said loudly: "If you can't buy it at the price of 360 million, then I oppose the acquisition plan!"

Davis was stunned. He said angrily, "Mr. Xiong Xiaoge, IDG only holds 5% of the shares in Qvod. What's the point of your opposition?" "It's 10%." Xiong Xiaoge corrected him, "It's useless if I oppose it alone. Why don't you ask other shareholders of Qvod what they think?"

Zheng Nan from Sequoia immediately followed up, "We at Huaxia Sequoia also oppose it! We have 10% of the shares."

Xu Xin also echoed, "We at Capital Today also oppose it, 8%."

Yan Yan said slowly: "Softbank objects, 12%."

Davis looked at them in astonishment and angrily asked, "You all oppose? Do you have enough votes?!"

At this time, the representative of Chao Neng Li Co., Ltd. also stood up and said, "We Chao Neng Li Co., Ltd. oppose the acquisition plan. We hold 25.6%."

Xiong Xiaoge said seriously: "Mr. Davis Hansen, we have a combined equity of 65.6%. Can we object?"

Davis looked at Qin Shaoyan in bewilderment, somewhat incredulous, "What's going on?!"

Qin Shaoyan spread his hands and said innocently, "I don't know either."

……

The acquisition negotiations had to be cancelled again in less than half an hour.

The reporters standing guard at the door were surprised to find that every member of the YouTube team had a serious expression on their faces and hurried out of the hotel.

Unlike the high spirits before entering, when they came out, everyone had a stern face and said nothing into the reporter's microphone.

The reporter, who was good at observing people's expressions, immediately became excited. There was a problem in the negotiations. There was big news!
"Excuse me, Mr. David Banks, why did the negotiations end in less than half an hour?"

"Excuse me, YouTube representative, is this halftime?"

"May I ask YouTube's representative if the acquisition negotiations are going smoothly?"

"Excuse me, Mr. David Banks, what do you think of this acquisition?"

They had no time to talk to reporters about their thoughts at this moment. They silently squeezed into the car under the escort of security guards and drove away.

Reporters immediately began writing articles and headlines on the spot, excitedly imagining what was happening at the negotiation venue.

"Shocked, YouTube's negotiation team left without saying a word, fearing the acquisition will be blocked."

"It's settled! The fastest business negotiation in history, a deal was reached in just half an hour!"

"Because of this incident, the American team is unhappy. When will the Chinese respect the rules of commercial negotiations?"

Just as the reporters began to use their imagination, Edward stood up and said, "Everyone, please be quiet. On behalf of one of the YouTube shareholders, I would like to greet all the journalists."

"Please be patient, we will hold a press conference later and invite you to attend and disclose some inside information at the same time."

The reporters were all excited as if they were injected with chicken blood. They could receive gifts and travel expenses at the press conference.

Of course, some reporters did not forget their duties and immediately put the microphone in front of Edward and asked directly: "Mr. Edward Damon, how is the progress of the acquisition negotiations?"

"Why did the meeting end after only half an hour? Did the two sides have a major disagreement or was there something unpleasant?"

“Can you tell us a little bit about that?”

Edward looked at the reporter with a smile and said with a relaxed expression: "This negotiation was conducted in a cordial and friendly atmosphere. There was absolutely no unpleasantness."

"We both respect each other and appreciate each other's professionalism in business negotiations."

"During the talks, there was a frank exchange of views, and the two sides fully exchanged views and reached consensus on certain issues."

"The negotiations went smoothly, but the two sides still had differences on some details."

The reporter kept asking, "What is the disagreement and what impact will it have on the negotiations?"

"Business negotiations are serious and professional, and both parties need to communicate on many details." Edward explained to the reporter with a smile, "For example, the payment method for the acquisition, cash, stocks, bonds, real estate, and audit and legal terms that need to be confirmed."

"Business negotiation cannot be completed in one or two meetings. It is a long and rigorous process. Just discussing a payment method may take a long time."

"Take real estate for example, it also involves asset evaluation."

Edward gave an incessant on-the-spot explanation, providing reporters with a lot of useful information.

For the press conference in the afternoon, the hotel prepared sumptuous dishes and drinks in the restaurant.

In the cheerful and friendly atmosphere of the dinner, Edward told reporters about the popularity of the concept of video websites and the interesting things that happened when Yahoo and Google acquired YouTube.

Edward is very talented in storytelling, and he tells a business acquisition case in a way that is full of twists and turns and very interesting.

Add some interpretation and some rumors and everyone will be fascinated by it.

Soon the reporters imagined the intrigues, twists and turns, spy battles, power struggles, and maneuvering in the business world.

Especially Qin Shaoyan, a shareholder of Qvod.com, who stayed at Bill Gates' mansion, could be written into a special report.

In this era, Bill Gates' halo as the world's richest man is extremely dazzling, and he is looked up to by others.

Especially in China, the name of the richest man is a household name.

If you randomly ask people on the street who the other richest people are on the rich list, few people can answer. If you ask who is the richest man in the world, there is almost only one answer.

Coupled with the long-term flattery from "Reader" and "Yilin", in the eyes of some groups, Bill Gates has a status similar to that of a contemporary saint. As long as you have anything to do with this person, your net worth will immediately double.

After eating and drinking, the invited reporters not only took away stories, but each of them left with satisfaction, holding a thick envelope.

After returning home, the reporters worked overtime all night, wrote one article after another, and then quickly reviewed, proofread, and typeset and printed them.

The next day, people were all excited when they saw the article in the newspaper.

Wow, this website called YouTube has such a story.

The concept of video websites has only been popular for a short time, but Yahoo and Google have already made moves to compete for it, and a fierce commercial war has broken out.

The article not only describes the details of the business war in great detail, but also has first-rate writing and storytelling, coupled with the journalists' imagination and interpretation, and some artistic processing.

The business case surrounding YouTube is written like a spy novel, which readers can't help but find exciting.

Not only did Yahoo and Google make huge bids, they also accused each other, but in the end Microsoft stepped in and snatched the deal.

Readers can’t help but become curious, is this video website really that valuable?
Is it worth a fight between Yahoo, Google and Microsoft?
Ordinary people just watch the fun, but people in the industry see the trick.

The recent rumors about YouTube are easy to verify. There are also a lot of news coming out in the United States, which are even more outrageous than those in China.

This incident has become known to everyone on the American Internet.

The Chinese Internet industry was slow to realize the truth, and after some research, it was surprised to find that the story behind YouTube was even more exciting than what was reported in the newspapers.

Then everyone started paying attention to YouTube's acquisition of Qvod.

The venture capital circle is more concerned than the Internet, and they quickly start communicating privately.

As venture capitalists who invested in Qvod, Xiong Xiaoge, Zheng Nan, Xu Xin, and even Yan Yan from Softbank were constantly harassed.

Venture capitalists are asking, what happened to the acquisition talks?
How much is YouTube willing to pay for the acquisition?

(End of this chapter)