Reborn Entrepreneurial Giant.

Chapter 305 Ten billion market value

On December 12, Jumei's stock price opened higher by more than $16, with a market value of more than $50 billion. Compared with less than $100 per share at the beginning of the year, it has increased more than five times in one year. It is a big bull stock no matter which securities market it is in.

Wall Street and domestic financial circles are discussing Jumei's stock. Many people disagree because Jumei's debt ratio is too high, with interest-bearing liabilities exceeding US$10 billion and total liabilities approaching 200 billion (no money is paid to suppliers after the goods are sold) (counting liabilities), but Jumei’s global revenue is only 350 billion, so the risk is too great.

The Internet industry doesn't care about this. This is Google, a place that many people yearn for. A series of reports occupied the headlines of major media for the next week. Major newspaper weekly and monthly magazines put this acquisition on the front page.

Many people have discussed this acquisition together with Ali's acquisition of Yahoo! You must know that Yahoo occupies about 40% of the shares of Ali Group (the actual share is rounded to the nearest decimal point), and Ali's founder team is about 32 %, SoftBank is about 28%.In such a comparison, it is obvious that Jumei has taken a big advantage.

If the acquisition plan of Jumei and Google can pass the board of directors, the total share capital will increase to 2.2 million shares.Among them, Qu Li plus equity incentives that have not been fully realized have a total of 8100 million shares. Lin Bing, Chen Danlin, and Dadongzi add up to more than 3600 million shares. The management seems to have more than 1.2 million shares, accounting for about 55%. %.

If Ali's founder lost control of Ali Taobao in terms of equity, then Jumei's team has firmly controlled Jumei.Shareholding ratio is just an appearance, behind it represents the stability of business operations and teams. Which one is more reassuring, the combination of Yahoo plus Ari, or the combination of Google plus Jumei?

Outsiders only see Jumei's glory, but this means that Shopee may be hurt. You must know that unless Google's top executives are fools, their withdrawal from the Chinese market was not based on economic interests.Therefore, if you want to acquire Google Zhongguo, you do not have to have money. Maybe some people only see Jumei’s concessions, but in fact both parties have made a lot of concessions.

From the sale of Shopee to Google's investment in Jumei, becoming a small shareholder of them, and determining the price of Google's investment in Jumei in a very short period of time, every change may take other companies a week or two to make adjustments, but Jumei and Google Compressing all this time to two months, it all started with the iPhone launch conference. Qu Li wanted to send a letter to Qiaobusi to thank him for the opportunity he created for himself.

Of course, Qu Li has been under tremendous pressure every day in the past two months, which is beyond the comprehension of outsiders.

"Congratulations. You are the best entrepreneur I have ever seen. You are as good as Larry and Brin. If you were in the United States, I believe you will achieve greater achievements..." Schmidt said with him after the press conference. Qu Li chatted for a while, and then visited Glory together.

The success of Gpad exceeded Google Android’s expectations. It’s hard for science and engineering men to believe why so many people bought an enlarged version of Honor G3. However, Honor exceeded their imagination time and time again. As the leaders of all this, Schmidt and It’s hard for the Google duo to doubt Qu Li’s ability.

Schmidt re-examined the initial versions of Nexus at Honor and expressed his gratitude to designer Qian Cheng and others. The design style of this phone is very different from Honor's metal right-angled frame, and it uses a large number of arc-shaped designs and detachable designs. The plastic case allows consumers to replace the battery themselves, unlike the batteries of Honor G2 and G3, which are not removable.

The Honor G series has a metal right-angle frame, the magic series has a metal arc frame, and the back is flat. The Google Nexus has a plastic arc design, and the iPhone has a rectangular arc corner on the front and an arc design on the back.

High-end mobile phones have their own design language and style. The design of Honor mobile phones is very beautiful. In 2009, it won almost all major industrial design awards in the world. The design of Nexus is relatively average, but Google’s purpose is to set a good example for other Android mobile phone companies. A more realistic benchmark, rather than blindly pursuing the height of Honor phones.

After seeing the finished product in Beijin, Schmidt went south to Xingsha. The OEM of Nexus mobile phones is at BYD's Xingsha factory. Google will release this mobile phone in January next year, and he wanted to see it on site.

BYD used to be an OEM for Nokia and Motorola, earning hard-earned money. Now it OEMs for Honor, and its excellent quality has been recognized by consumers around the world. During this period, although there was financial support provided by Honor and Vision Investment, Wang Chuanfu and BYD Electronics still overcame many difficulties.

Because of Buffett's investment and the recommendations of Honor and Qu Li, Google Schmidt also knew that there was an entrepreneur like Boatman in Zhongguo. They would meet each other when they went to Xingsha this time.Google Nexus mobile phones only require WCDMA standard, and the order volume is not large, less than 100 million units.Unlike the Honor G3, an order for 1000 million units was placed with BYD Electronics from the beginning.

Schmidt's visit to Honor attracted a lot of people to watch. Lei Jun and others were like fans. The appeal of Silicon Valley's top entrepreneurs is not comparable to that of Qu Li.

By the way, what is Honor’s current valuation?Since Lehman Brothers was kicked out last time, they have not had any major capital operations. The corporate bonds originally planned to be issued in 2009 have also been delayed due to various things.Different from Jumei’s bbb rating, Honor has reached an A-level. This is because it has been established for such a short period of time that it will not be difficult to catch up with Apple in a few years.

Schmidt left Beijin and went south to Xingsha. The leaders of the Ministry of Industry and Information Technology came to the former Motorola Building and Qu Li and other Jumei senior executives to understand the situation. Seeing that Qu Li's energy and energy were not as good as before, they knew that he was under a lot of pressure.

"Although work is important, your body is even more important. You have gathered so many elites here, so don't let Qu Li get exhausted..." The big leader said with a smile. Only then did Lu Qi, Lin Bing and others realize that Qu Li's condition was not good. How good.

"Everyone is under great pressure in this acquisition." Qu Li said a few words briefly and got to the point. This acquisition is very complicated and there are still many details that have not been negotiated. However, the senior management of both parties signed the contract and the remaining details will not be discussed. become a hindrance to cooperation between the two parties.

“Although Google has not acquired Shopee, Shopee’s product data will be open to Google searches, and traffic imported to Shopee through Google will incur fees...

In addition, Brady, the current CEO of Shopee, will give up his stock options in Jumei, lead a team to join Google, and become the leader of Google Shopping..."

"The Google shopping function will cooperate with Shopee next year and will be initially opened in markets such as North America, England and Japan. Simply put, we gain traffic, and they can gain more advertising fees, including e-commerce advertising from brands."

In the future, the scale of e-commerce advertising will exceed that of search advertising. Amazon’s advertising sales revenue in 2021 will be US$312 billion, accounting for nearly [-]% of the market. If Google Shopping can really occupy a place in the e-commerce advertising segment, this time it will The cooperation with Jumei is very cost-effective.

"You didn't get any advantage in this acquisition!" the boss of the Engineering Department said.

"It's so easy to take advantage of it!" Qu Li's tone was a little low. Even without Google Zhongguo, Jumei's market value may still exceed 1000 billion US dollars. If Google becomes a shareholder of Jumei, it will make a lot of money no matter how you look at it, but now there are With the excellent team of nearly 700 people in Google, will Jumei’s future be smoother?

"Next year, there will be traffic imported from FB and Google at the same time. Shopee will have both opportunities and challenges..." Lu Qi stood up and explained that there is no good thing in this world that can be taken advantage of.