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Published at 3rd of January 2022 12:27:44 PM


Chapter 676

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When she returned to the hotel, YAHOO chiefs and several key aides had been waiting for a long time. Since the Internet technology bubble, YAHOO's employment performance has been declining all the time, and various problems have been highlighted. It should be said that they have risen to Silicon Valley. They should be technology companies, but they have become the media companies themselves. They themselves have been swinging in technology companies and media companies.

As technology enterprises, their scientific research strength is insufficient, as media enterprises, their channels and content are also insufficient, and they are not sure whether to do information or entertainment, but no matter what they do, their content is insufficient. For example, mm has the largest film library in the world, which is the core of their assets and gives them enough confidence to extend to other industries, In addition, they are the world's largest film and television production group and the largest content provider. They are blooming everywhere in DVD production, leasing and online on-demand.

Yahoo is very envious of mm, but it doesn't have so much content to support it. The stripping of Time Warner Group from time publishing group gives them hope. They have a lot of digital content on the Internet, plus the physical content of Time Warner, online and offline synchronization. What's the problem? So they sent Philo to test.

Mark, the man in power of Time Warner, is a shrewd man. If Yang Zhiyuan, a man with super intelligence, goes, he may not have any sparks.

Philo boasted: "mark is a bit of a disgrace. When he is fooled by me in a few words, he can't wait to dig his heart and lungs. Bloomberg and Bertelsmann offer a high price, but he just wants to sell it to me. I dare say this price can make Bloomberg envy, envy and hate."

Yang Zhiyuan doubted that free lunches in shopping malls are often the most expensive. He said, "it's impossible! Why did he do this? It's equivalent to giving up more than a billion dollars! Is Yali's shares so valuable? Or are there any details we haven't paid attention to? Yali is a potential gold mine?"

Ferrero said dismissively: "aribaba is a potential gold mine? Now he has a market value of more than $10 billion. This is just a valuation. Who knows? But the publishing group in this era is real value."

Bartz, who connected Ren Yang Zhiyuan as CEO, also said: "yes! Ma Yun is ambitious and too difficult to do. In 2005, he almost obtained $1 billion in investment and Yahoo Huaxia equity by cheating. Now he turns his face and doesn't recognize others. He thinks that he has done a loss business and has always wanted to redeem his stock rights. He doesn't think about it. Without our $1 billion, his aristoba would have been gone."

Ma Yun got a billion dollar investment and a "dowry" like Yahoo Huaxia. This is a big event in the investment industry, which many people envy. However, Ma Yun believes that this is one of the biggest mistakes in his career. He tried to redeem his stock rights since 2009, but his bid did not satisfy Yahoo.

Why does Ma Yun think this is a mistake? This is because in the years after he took Yahoo Huaxia, Yahoo Huaxia not only didn't get better, but became worse and less important, becoming a chicken rib of Alibaba group.

Ma Yun must have wanted to get something from Yahoo when he bought Yahoo Huaxia. So what does Yahoo have?

Yahoo has many things. First, Yahoo has very good portal experience; Second, Yahoo started by searching; Third, Yahoo's mailbox is still very good; Fourth, Yahoo launched an im product, an instant messaging product, called "Yahoo com", which was also one of the top products in the United States at that time.

Ma Yun must have thought this: "I do e-commerce. E-commerce is just a platform, so where does my traffic come from? Traffic needs to be imported from the whole society outside the e-commerce platform. Portal, search, email and im are all good ways to import traffic, so my acquisition of Yahoo Huaxia is a particularly good business. In addition, yahoo Huaxia has a lot of experience in international operation. I We can bring the experience of the United States and Japan to China, which can help Alibaba's growth and China's e-commerce growth. "

Why did Ma Yun's wishful thinking fail? What are the reasons for Ma Yun's failure to integrate Yahoo China? There are probably three reasons.

First, business integration is out of focus. Yahoo has portals, search, email and im. When all these things suddenly run in front of Alibaba, "aribaba" will ask: "which one do I get first?"

These businesses of Yahoo Huaxia need to be integrated with Alibaba. However, in 2005, Alibaba already had its own mailbox products, strategic search products and its own IM system. So these "biological sons" of aribaba How to integrate with the business from Yahoo Huaxia has become a very difficult problem. For a long time, the business integration between Yahoo team and Alibaba team has not been completed, or even a focus has never been found.

Second, it is difficult to integrate Yahoo Huaxia's business with Alibaba's business. What should we do? Can Yahoo Huaxia develop independently?

To this end, Alibaba has sent many important executives for some time, and even once sent its "chief of staff", that is, Zeng Ming, the most theoretical person among the executives of the whole Alibaba group, to be the president of Yahoo Huaxia, but this is not enough. He led Yahoo Huaxia's transformation for many times, first positioning at the news portal, and then focusing on search.

When the community consumer industry got up, an individual in Alibaba went out to start a business and built a word-of-mouth network. Ma Yun also bought word-of-mouth network in the past and tied word-of-mouth network and Yahoo Huaxia together, hoping to form a business module, but later he failed. Therefore, when Yahoo and aribaba's own business modules could not be integrated, and Ma Yun hoped that Yahoo could develop independently, despite many transformation efforts, it finally failed.

Team running in is also a problem. Yahoo is an international team. In 2003, Yahoo acquired Zhou Hongyi's "3721" and asked Zhou Hongyi to be the president of Yahoo Huaxia. However, Zhou Hongyi was very uncomfortable and noisy for more than a year. Later, aribaba acquired Yahoo Huaxia, and the contradiction shifted to the Yali team and Zhou Hongyi team. What's going on between them? Later, Yahoo publicly condemned Zhou Hongyi who had left his job on the home page. It can be seen that the running in between the two teams was very difficult at that time.

When aristoba just bought Yahoo, he once pulled the whole Yahoo team and about several carriages of people to Hangzhou, hoping to instill aristoba's corporate culture into these people. But what happened? It was also a great failure.

This seemingly bright merger and acquisition case finally brews two big bitter fruits:

The first bitter fruit is that since then, Ma Yun has lost control of Alibaba in the sense of equity, and 70% of his equity has been given to son Zhengyi and Yahoo.

The second bitter fruit is that Yahoo Huaxia, the dowry of that year, finally became a big chicken rib of Alibaba group.

Later, in 2012, Ma Yun wanted to regain Alibaba's dominance in capital - after obtaining the dominance, it could be listed as a whole. In order to obtain this dominance, a very big battle has taken place between Alibaba and Yahoo. Finally, Alibaba spent US $7.6 billion to recover 21% of Yahoo's shares. At that time, it let out 35% of its shares and raised US $1 billion. Now it spends US $7.6 billion, but it only gets back 21% of its shares.

So that Ma Yun later admitted that he made a big mistake in this matter. If time could come back, he would solve this matter in a smarter way. This is bullshit. Time will not come back.

In fact, there is a very good question worth thinking about, that is: if we go back to August 2005, do aristoba and Ma Yun really have a smarter way to buy Yahoo? Yang Zhiyuan of Yahoo, Ma Yun's opponent, is also a Chinese entrepreneur with the highest IQ in the world, so Ma Yun is dealing with a smart man. When Ma Yun uses a smarter method, will the other party have a smarter strategy?

In addition, at that time, Yahoo was strong and Yali was weak. Without Yahoo's $1 billion blood transfusion, it was a problem whether Yali could grow up. Moreover, Ma Yun was very proud afterwards and called himself a big flicker. There were more than ten billion flickers. Only after Yahoo was finished and Yali was strong, could he have feelings in this regard.

So, business is a very interesting game. You can never go back to the past. But one thing seems certain: in the business world, free lunch is often the most expensive.

Now smart as Yang Zhiyuan, he also has this concern.

Ferrero said: "I also have concerns in this regard. I asked to sign a supplementary agreement. Five years later, either party has the right to redeem its own equity at the current market price. This guy actually agreed. Is this guy out of his mind?"

"Yes!" Yang Zhiyuan and others celebrated each other, which means that if they do not manage the time publishing group well, they can still sell it back to Time Warner, which ensures their long-term interests.

This is Mark's trick. His main aim is to dispel the concerns of Yahoo Yang Zhiyuan and Philo, so that they can jump into the pit and die at ease.

If the situation is bad, you can take back your own things. Time Warner guaranteed its own interests in the merger with AOL through this one. Instead of suffering losses, it took advantage of the situation to swallow AOL, which can be said to have guaranteed its own interests for a long time.

When Yang Zhiyuan saw this one, he became suspicious and said in unison, "is mark a stupid B?"

Mark sneered in his heart: "a bunch of stupid B!" this Arie can also be sold. The problem is that you must have 150 billion dollars! "




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