America's Road to Fame

Chapter 340 Kakao Company
William Chen came to South Korea this time, of course, not only for the SNN company, this investment, in his opinion, is just a trivial matter, it is a matter of coming to South Korea, otherwise Zhang Zhao is enough to deal with it.

The main purpose of coming here this time is still to hope to deploy the Internet industry in South Korea.

How about South Korea?Its capital Seoul business circle can cover more than half of the country's population, so it is easy for this kind of country to develop its economy. As long as Seoul develops, it can greatly improve the economy of the entire country.

After all, the population is small and the country is small. If resources are gathered in such a city circle, it will be well developed. Whether it is national governance or economic development, the difficulty will be greatly reduced.

Because of the dense population, the efficiency of the society is high, the additional expenses required are small, and the development of business is also very easy.

This is completely different from Huaguo. Huaguo has too many people and is scattered in a vast land area. If the country only develops the economy, then it can completely concentrate on development, drive a group of rich people, and bring the total amount of society up. .

But if we want to achieve common prosperity, the difficulty is very high. Coastal cities are easy to develop, but what about inland mountainous and remote areas?If the government has a sense of responsibility and is unwilling to give up these people, it will need to spend a lot of extra funds and resources to support them. This kind of thing, capitalist countries will not do it, because it is completely cost-effective.

It's like looking at the free shipping area of ​​Huaguo and Guangdong Province. Its economic volume, whether it is total or per capita, is already very small compared to developed countries, and it beats all Asian countries.

If only these places were developed, then the living conditions in northern Europe would have been comparable to those in northern Europe.But this is impossible, it is completely contrary to the country's ruling philosophy. The ultimate ideal of socialism is the prosperity of all people. Therefore, even in remote areas where development is extremely difficult, the country will not give up, but will work hard to develop, so that The people there have also become richer. This is the difference between Huaguo and capitalist countries. They have simple and romantic feelings.

Speaking of South Korea, their situation is doomed. As long as they win the Seoul economic circle, it is equivalent to winning the entire South Korean market.

This is convenient for conquering South Korea, but there is another situation, that is, due to historical reasons, this country has never been truly independent as a country, and has always been a subsidiary country of the surrounding powers. Her self-esteem is particularly strong, even to the point of being pathological.

Therefore, it is shown that the public is very supportive of domestic brands, and the same is true for Internet products, just like American companies, whether it is Google, Facebook or Chen William’s HOLA, want to beat local companies in this country’s market. That is very difficult.

Therefore, it is very important to attack South Korea, that is, to cooperate with the local people and put a local skin on the company.Just like the conglomerates that South Koreans are proud of, they are actually controlled by Wall Street behind them, but these controls are very subtle. Through various methods, they transfer profits to Wall Street, but on the surface, these consortiums are holding shares. As well as management, it is a local consortium.

This method is also something William Chen needs to learn from.

At present, in the Internet market in South Korea, there is a social software that has a higher share than HOLA, that is kakao talk. This software was released in the first half of this year, and it can be clearly seen that it has borrowed from HOLA.

The founder of kakao company is Jin Xiufan. Before that, he founded Hangame, the largest game platform in South Korea, and later served as the CEO of NHN, the largest Internet group in South Korea. KaKao was the product launched after he left.

Before, William Chen had sent someone to contact the founder of kakao and proposed the idea of ​​investing in this company.

This proposal also made Jin Xiufan very interested, because in South Korea, almost all enterprises have the support of large financial groups behind them, and the mobile Internet, because it has just started to rise, has not yet attracted the attention of large financial groups, so it is considered temporary. survived, but if kakao company wants to continue to develop, this kind of thing will come sooner or later.

What Jin Xiufan values, on the one hand, is that kakao talk and HOLA are currently the top two mobile social products in the South Korean market. If William Chen’s proposal is followed, the two will be merged and handed over to his kakao company to operate. Then kakao immediately became a social product with a monopoly in the South Korean mobile Internet market.

You know, because of the different national conditions, South Korea does not attack monopoly as hard as Huaguo and Europe and the United States. Even in order to develop the economy, their government supports and encourages monopoly, just like those consortiums in their country, which one? Doesn't it have a monopoly position in its own field?
Jin Xiufan was born as a commoner, and in a country like South Korea where the class is severely solidified, it is normally difficult to have a way to rise. Even his kakao company, if it wants to develop, will inevitably need the support of the consortium.

But now, he has another choice in front of him, that is, with the support of William Chen's Meta Group and Future Group, he will become a new Internet conglomerate in South Korea. This temptation is not insignificant to him.

So what if there is William Chen's capital behind it?Which chaebol in South Korea does not have American capital behind it?But it still doesn't affect their family's ability to stand at the top of South Korean society in turn, so why can't I do the same?

And this possibility is foreseeable. Jin Xiufan has studied the Penguin Company in Huaguo many times, and is very yearning for their model. If Kakao Company can get HOLA's users in South Korea with the support of William Chen , Merge and operate the two social software, then in South Korea, he can also copy Penguin's current model - with a strong number of users, acquire or "borrow" all Internet products, leaving other companies with nowhere to go.

And because of the real situation in South Korea, monopoly is feasible, so he can even go further than Penguin. There is no need to create an open platform at all, and his company will directly end it. When a project becomes popular, they will enter. Learn from it, and then kill the original company and occupy the market.

In the end, it was very simple for kakao to become the giant of the Internet in South Korea.

The premise is to make kakao talk a monopoly social app first!

Therefore, William Chen took Quan Zhixian and Li Yanxi to kakao company and met with the company's founder Jin Xiufan.

William Chen chose to learn Korean before William Chen completed charging and was able to use the [Language Amplification Wind Chime]. Therefore, after the daily conversations between Quan Zhixian and Li Yanxi and the special professor, William Chen's Korean language is already good at this time Now, at least the spoken language is not a big problem, and there are no obstacles to normal communication.

In fact, after Kim Soo-beom studied engineering at Seoul National University, the best university in South Korea, he also went to the United States to study abroad, so there is no problem with communicating in English.

However, after meeting William Chen, he was very pleasantly surprised to hear his fluent Korean. During the whole process, he was very active and told William Chen about his plans for the future development of kakao company. In general, It is to learn the method of Huaguo Penguin Company, first complete the monopoly of the South Korean market, and then expand in the mobile Internet industry based on the advantages of users.

And it can be clearly seen that Jin Xiufan is also a very passionate entrepreneur with a keen mind and many ideas, and judging from the process of his founding kakao company, he has strong execution ability and a certain strategic thinking.

Therefore, Chen Weilian was quite satisfied with him. In the end, the two sides determined the general plan of cooperation.

William Chen will authorize kakao to merge HOLA and kakao talk’s South Korean users to form a new kakao APP, obtain the right to operate HOLA in South Korea, and be able to connect kakao APP users with HOLA’s global users, so that kakao will It is equivalent to the South Korean version of HOLA.

Of course, the premise of this authorization is that William Chen will grant all operations to Kakao Company, and Meta Technology Company will obtain 30% of Kakao Company's shares.

Then William Chen invested 1 million US dollars to obtain 24% of kakao's shares, so that the founding team's shareholding, including Jin Xiufan himself, became 46%.

However, 24% of the 14% stake that William Chen obtained is held by Future Investment Company, so the share directly controlled by William Chen is 44%, which is lower than that of Jin Xiufan's founding team.

The remaining 10% of the shares are held by CJ Investment Company owned by Quan Zhixian, 6%; CL Investment Company held by Li Yenxi holds 4%.

In this way, in fact, William Chen can control 55% of the shares, holding the control of kakao company; on the surface, the shares controlled by South Koreans are 56%.

Therefore, kakao is undoubtedly a local company in South Korea.

Of course, in addition to the above terms, Meta Group and Future Group will provide resources to support the development of kakao company, and when the company needs funds for development or mergers and acquisitions, Meta Group will also purchase corporate bonds for kakao provides low-interest funds.

(End of this chapter)