Reinventing the Millennium

Chapter 259 Seeking common ground while reserving differences (two in one)

Fang Zhuo's thinking on the "poison pill plan" was approved by the three lawyers of Cadwalader Law Firm, but the key point of this operation fell on the board of directors, which is beyond the scope of the law's help.

They can only formulate a plan that is more in line with regulations around Fang Zhuo's confidence in operating the seat, and further improve the details of the follow-up actions.

As a lawyer with rich experience in mergers and acquisitions, Martin had a more ruthless inspiration almost instantly.

For example, according to Article 1934 of the US Securities Exchange Act of 16, shareholders who hold more than 10% of the company's shares, the so-called insiders, cannot conduct opposite operations within six months of buying or selling stocks.

Therefore, Martin put forward a very targeted suggestion. If the seat is obtained, the private placement implemented by the "poison pill plan" is not only for Yike investment. At that time, other shareholders holding more shares are potential competitors.

Then, as long as Yike Investment buys stocks from them within six months, they will not be able to participate in the private placement of new shares.

In other words, if the stock is bought from major shareholder Duan Yongji on February 2 today, as long as Sina's "poison pill plan" is triggered before August 27, Duan Yongji can be forced not to increase his shareholding.

This will be beneficial to Yike Investment's substantial increase in shares, and avoid the emergence of a major shareholder who can veto it with one vote.

The provisions of this trading law are used to prohibit short-term operations by insiders, but when used at the right time, it can produce the effect of pointing east and west.

After Fang Zhuo listened to the details explained by lawyer Martin, he was quite fortunate that he had invited professionals to do the work. However, the domestic part obviously fell on him, whether it was a seat on the board of directors or a shareholder with a relatively large shareholding. Both hands need some extra impact.

On the night of the first day of the Lunar New Year, Fang Zhuo did not go home for dinner. He entertained three lawyers while discussing better operations.

Because the plan has changed, the three lawyers are also discussing with each other, trying to achieve the best effect when launching.

The next day, the second day of the Lunar New Year was a whole day of communication, and from time to time, I also received research opinions from the New York law firm.

Just as Sina innovatively created the VIE structure when it went public on NASDAQ, Fang Zhuo is also striving to comply with the framework of various US program regulations in order to seek control of this "no man's land".

On the third day of the Lunar New Year, which was also the first day of March, the three lawyers arranged to visit Shencheng, a city they had never been to before. Fang Zhuo held an Yike meeting with a small number of people. work arrangements.

On this day, Zhao Shumei and Fang Tong followed him to the company curiously, seeing that they would not see their son for a whole year. They didn't disturb the meeting, but just strolled around the 23rd floor of Hang Lung.

At 10:30 in the morning, Fang Zhuo hurriedly ended the meeting and entered the CEO's office, and saw two people drinking coffee.

"Dad, Mom, hey, let your uncle and the others go to the Bund to play, you insist on coming to my place, are you bored?"

"It's not boring, it's very interesting, Xiao Zhuo, are the books on your bookshelf real or just pretend?" Zhao Shumei pointed to the bookshelf in the office, she just saw that there are many kinds of books on it.

Fang Zhuo took the water to make tea, and replied casually, "I have basically turned over all the above, but I haven't finished reading all of them."

Zhao Shumei asked in surprise, "Why haven't you read all of them?"

"For example, Sartkin's "Recursive Macroeconomics" that I brought back from New York was recommended to me by a professor there, and he only recommended a few chapters, so I read it as he said."

"There are quite a few books that I read only when I was puzzled, and used them for comparison."

Zhao Shumei wondered: "Son, aren't you making a music player? What kind of economics can it involve? Is it needed for foreign investment?"

"It's a little bit related. The main reason is that I have doubts in my heart." Fang Zhuo said carefully, "Some things need to be compared with theory. OK?"

"It's pretty good, it's all pretty good now, but it's not very popular." Zhao Shumei only complained about this.

"Home is where my heart is at ease, or, Mom, Dad, you should stay in Shencheng, let's buy a house with a better view." Fang Zhuo suggested again.

Fang Tong said nothing, only looking at what his wife meant.

Zhao Shumei refused without hesitation: "If you don't come, just wait until you have a grandson."

Fang Zhuo thought for a while and said, "If you buy a house in Shencheng now, it will definitely increase in value in the future."

Zhao Shumei blinked, quite moved.

At this moment, the landline of the president's office rang.

Fang Zhuo picked up the receiver in two steps, chatted briefly and then hung up the phone.

"Is there something serious?" Fang Tong got up from the sofa.

"It's just that a venture capitalist came over, it's okay, it's nothing serious, Dad, you have a taste of this tea." Fang Zhuo brewed tea and put it on the coffee table, "The leader agreed after drinking this tea, and I will keep it for you later. I'll buy it again."

Fang Tong took a sip, felt that it was really good, and said, "I don't want it, how can I drink such good tea usually, you can keep it for entertaining people."

"I'm still the top leader of the company, so what can I do with some company tea." Fang Zhuo said with a smile, "I haven't seen any leaders recently, and my dad is my big leader."

Fang Tong took another sip of tea, um, the fragrance remained on his lips and teeth.

"Take it, your son respects you, and he didn't even say to buy me a necklace or anything." Zhao Shumei chimed in beside him.

Fang Zhuo pretended to be wronged: "Mom, all my belongings are in that card, how can I be filial."

Boom, boom, there was a knock on the door of the president's office.

Fang Zhuo reckoned that he just called to say that he had arrived downstairs, and Xiong Xiaoge obviously wanted to give him a surprise attack. He walked over quickly and opened the door to greet the president of IDG Huaxia himself.

Xiong Xiaoge walked in aggressively as soon as the door opened.

Then, he saw two people standing up from the sofa.

"Mr. Xiong, happy new year. These are my parents." Fang Zhuo introduced with a smile, "Mom and Dad, this is Mr. Xiong, the president of IDG Huaxia who has helped me a lot. He is very kind."

Fang Tong and Zhao Shumei greeted each other with a smile.

Xiong Xiaoge shook hands hastily, holding back the words of preparing for the journey.

This... What else can they argue about in front of their parents?
However, next time you come here, you can bring your parents with you, and let them reprimand and reprimand this young entrepreneur who does not speak business ethics.

Xiong Xiaoge complained in his heart, but praised Fang Zhuo's youth and promise.

Fang Tong and Zhao Shumei were very happy to hear it.

"Mr. Xiong, let's go to the meeting room, Dad, Mom, let's have some tea, and I will have a chat with Mr. Xiong." Fang Zhuo said after greetings.

Xiong Xiaoge agreed, and followed Fang Zhuo to leave the CEO's office.

"Hey, where's Xiao Pan? Didn't I mean to come with you?" Fang Zhuo pushed open the door of the meeting room, suddenly remembering what he had forgotten.

"He parked below, I'll come up first." Xiong Xiaoge's face darkened as he entered the conference room.

Fang Zhuo didn't sit down either, and patted Xiong Xiaoge on the shoulder: "Old Xiong, the past is over, let's look forward, your dignified president doesn't even have such a heart?"

Xiong Xiaoge was annoyed: "What the hell are you, the president, still poaching people from your partner's company?"

Just as he was talking, Pan Ben cautiously walked into the conference room.

Xiong Xiaoge was too lazy to say anything, and didn't want to quarrel with Fang Zhuo in front of Pan Ben. He hummed and knocked on the conference table: "Mr. Fang, I heard that you want to mortgage equity for financing?"

Fang Zhuo smiled at Pan Ben, and pointed to his side.

Pan Ben walked over silently and sat in the second seat on the side opposite Xiong Xiaoge, President of IDG Huaxia District.

It's a bit like buying and leaving, the identities of each other have changed tacitly at this moment.

Xiong Xiaoge sighed inwardly. Pan Ben, a high-achieving student, was recruited from Peking University and had a solid experience in IDG. His abilities are quite good, but he was kidnapped in just over two months. soul medicine.

"Old Bear, you also know what equity means to a company. It's not that I have a small belly, it's really easy to make people choke in their throats." Fang Zhuo said the reason more sincerely, "You think about it from my standpoint. "

Xiong Xiaoge said word by word: "IDG Huaxia and IDG America operate absolutely independently, and I, Xiong Xiaoge, guarantee it with my personality."

Fang Zhuo nodded and said, "I believe in you."

He added indifferently: "But I also feel that it is not professional enough to ensure the stable development of a company purely by virtue of personal character. Old bear, I am not targeting you, but...well, I have a different idea."

Xiong Xiaoge's expression was not good.

Fang Zhuo turned around and pointed to the marks left on the whiteboard during the morning meeting: "I don't think we need to worry about this matter. I was at the company on the first day of the Lunar New Year. I was busy for another day yesterday. I am still in the meeting this morning. Old Xiong, I As a company, we don’t want to leave room for hidden dangers in the future, we seek common ground while reserving differences, and keep moving forward steadily.”

Xiong Xiaoge sighed, "Mr. Fang, IDG can definitely help you a lot in the United States, especially in the area of ​​music copyright."

Fang Zhuo smiled and said nothing, which was sticking to his point of view.

What IDG America is going to do is a bit like what it wants to do with Sina. Its A-round opening is almost close to 34% of the vetoing holdings. In the future, if the company does not meet its expectations, it will easily veto it with one vote. Who can stand it?
A founder like Sina Wang Zhidong can tolerate the shareholding being reduced to a few percent, but he is a minority in China. Even with the consideration of the US market, he must not be the second Wang Zhidong.

There was some silence in the meeting room.

"The U.S. market is in a state of incremental growth. If Ipod does not support Microsoft for a day, we will have an absolute advantage. There are no other competitors in the market for the time being."

"Even when iPods are supported, our prices are very competitive."

"According to my observation, American consumers are actually similar, and they are more sensitive to prices. They are not as rich and powerful as I imagined before I went there. They would rather die than buy Chinese products."

"Mr. Xiong, Mr. Fang, things are not going down, we are still going up."

After Pan Ben took a deep breath, he expressed his opinion and smoothed things over by the way.

Fang Zhuo gave the new employee an appreciative look.

Xiong Xiaoge compromised.

In fact, in front of Fang Zhuo, the founder with absolute control, he couldn't face the persistent statement of uncompromising.

Xiong Xiaoge firmly believes that the mp3 market has great potential, not only hardware, but also software that needs to be launched urgently.

"I don't think it's urgent to pledge the equity. I have friends over there. Let's see if we can find new investors." Xiong Xiaoge said slowly, this was something he had considered on the way.

Fang Zhuo smiled: "Old Xiong will always be Yi Ke's good friend."

Xiong Xiaoge felt that only young people could say such things, that is, Fang Zhuo could change his face seamlessly like this.

Today’s IDG Huaxia only has Xiong Xiaoge, and Yi Ke’s side plus Pan Ben barely counts as two people, but Fang Zhuo and Xiong Xiaoge’s words are useful, and the two decided that the A round cannot be only IDG America’s family. Talk about market development at home and abroad.

As the first person to engage in venture capital in China, Xiong Xiaoge is definitely capable, visionary, and courageous. Fang Zhuo and he are very good at chatting.

At noon, Fang Zhuo hosted Xiong Xiaoge and Pan Ben for dinner. He brought his parents with him, as well as Su Wei, the personnel director who rushed over in the third year of junior high school.

During the dinner, there was little talk about work.

Fang Zhuo was surprised to find that Mr. Xiong Xiao Ge Ge Xiong was a very humorous person.

This made him couldn't help examining the source of his impressions. The most profound one was Xiong Xiaoge leading people to besiege Guahao.com, and then he was busy chatting about business affairs every time they met. He really didn't expect such a side.

In the afternoon, the company had a car to send Fang Tong and Zhao Shumei to the Bund to play with their uncle and aunt, and there was an extra Director Su Weisu in the conference room.

The atmosphere of this half-day meeting was relatively relaxed. The two sides exchanged views and were unanimously optimistic about the company's future development.

In the evening, Xiong Xiaoge received a text message from a friend. Seeing that the conversation was almost done, he said something off topic to Fang Zhuo: "Mr. Fang, did you go to that CCTV program?"

"Go, I am obliged to share ideas with domestic entrepreneurs." Fang Zhuo said without hesitation.

Xiong Xiaoge was a little puzzled, but attributed this statement to the second layer of personal reputation and brand promotion. After all, CCTV's communication power is very strong.

At 05:30 in the afternoon, the president of IDG China declined the dinner invitation, saying that he still had other things to do.

When this person left, Su Wei asked Fang Zhuo: "Is the equity pledge temporarily suspended?"

"No, let's see which bank can give more." Fang Zhuo shook his head, his tone was not what he talked with Xiong Xiaoge, "On the one hand, this equity pledge is to prepare for Yike's market development, on the other hand On the other hand, it will be distributed to Yike Investment."

Su Wei nodded intently.

"Oh yes, and, Xiao Su, didn't you want a group of people from domestic Internet companies a few years ago? You screen to see if there are any from Sina." Fang Zhuo was talking about the company that closed down because of the Internet bubble. other company personnel.

Not only small companies, but also large companies such as Ali and Sina have laid off many employees, including technical personnel.

The 23rd floor of Hang Lung took the opportunity to absorb a lot of technical talents. The software development of Yike and Guahao.com now relies on the richness and strength of this area. iMusic is a little later than expected, but it will be launched in mid-March.

At that time, Yike will usher in a new stage.

(End of this chapter)