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Ziweixing issued an offer to buy Douban, but Yang Bo didn't really want to sell it.

However, in the case of Douban, Ziweixing is the capital side and an evil villain.

Zhou Buqi was able to play around with the investors of Ziwei Star through a wave of operations, but Yang Bo couldn't tease the investors of Douban. The two sides are not on the same level at all.

Regardless of the fact that Polaris Ventures only owns 25% of Douban, but this share... as long as the capital game is played, it is enough to kill Douban.

The most powerful move is that according to the laws of our country, shareholders who hold more than 10% of the shares can apply to the court to dissolve the company.

As long as this trick is used, the small company will stop.

Domestic capital mergers and acquisitions are still in their infancy, and similar tricks have long since failed in the US market. Some capitalists are extremely ruthless, and they can use various means to buy some stocks, and they can play various capital black operations, such as "corporate sniper", "corporate predator", and "ruthless speculator" Wall Street tycoon Carl Icahn.

However, with only 10% of the shares, it is difficult for the court to approve an application to dissolve the company.

Because the subsidiary company and the parent company are not a family.

No matter how poor the performance of the subsidiary is, it will not affect the parent company. No matter how serious the subsidiary's losses are, it has nothing to do with the parent company, and the parent company does not have enough reasons to propose dissolution.

So the next indicator came out again-accounting for 20% of the shares.

Holding less than 20% of the shares is called equity participation, and the cost method is used for accounting. It probably means that the subsidiary does not pay dividends, and the parent company does not keep accounts. That is to say, the profit and loss of the invested subsidiary has nothing to do with the parent company, and they are two completely independent companies.

Since it doesn't matter, the grounds for the dissolution of the company are not sufficient, and it is difficult for the court to approve it.

If it exceeds 20%, it is a real "parent-child relationship", and the profit and loss income of the subsidiary company must be entered into the statement of the parent company. If the subsidiary suffers serious losses, the parent company has enough reasons to apply for the dissolution of the subsidiary to reduce its own losses.

Therefore, 20% is called the competition warning line.

In the capital game of investment and mergers and acquisitions, 20% is the dividing line.

Many companies engage in mergers and acquisitions, not one-time acquisitions, but in batches, first acquire 20% of the shares, start strategic cooperation, and try it out first.

Failed, anyway, it is not included in the company's report, and the impact is controllable.

If successful, the acquisition of the remaining shares will be completed.

Some people say that holding 51% of the company’s shares can give you absolute control over the company, while others say that 67% is the right to control the company. They are not accurate. Some bosses hold 70% of the company’s shares, but still cannot achieve absolute control, and they can still be controlled by small shareholders. Play to death.

The most important thing is that both sides should be equal.

If there are two opponents with similar abilities, holding 51% can absolutely control them. If there is an elephant and an ant, as long as the elephant holds more than 20% of the shares, it can kill the ant alive.

Polaris and Ziweixing, led by Zhou Buqi, have a common practice of 25% when investing in companies, and become a "family". With this family relationship, capital control can be better accomplished.

Ziweixing and Douban are like the relationship between elephants and ants.

If the shareholding is less than 20%, it will be difficult for the elephant to deal with the ants.

For example, Ali invested in Meituan in his previous life and suffered a big loss.

Ali's support is indispensable behind Meituan's ability to stand out from the battle of thousands of regiments. In order to support Meituan, Boss Ma even sent all the generals of the Zhonggong Iron Army to serve as the COO of Meituan.

However, Ali accounted for less than 20% of the shares, sowing the seeds of disaster.

Boss Ma wanted to strengthen control, but Wang Xing was unwilling. The conflict arose, and Wang Xing turned around and defected to Penguin. Boss Ma was furious, but he had no choice but to sell the shares of Meituan, and turned around and bought Ele.me with a huge sum of money, which kicked off the prelude to the food delivery war.

Zhou Buqi went downstairs to meet Yang Bo.

At this time, the group's legal affairs, finance and other personnel have clearly stated their interests.

Ziweixing is determined to win Douban!

In front of Yang Bo, there were only two ways - either to sell, or... to die.

IDG holds only 0.4% of Ziweixing's shares, and it can turn the world around. Polaris Venture Capital holds 25% of Douban's shares. Once it sells, Douban's size will fall apart in less than half a month.

Zhou Buqi didn't want to turn against Yang Bo, so he warmly said some good things.

When others sang bad faces, he should sing red faces.

Zhou Buqi made a promise that after Douban was merged into Ziweixing, except for the Douban group that will be changed to a hobby circle, other businesses will continue to operate independently, and an additional 5 million yuan will be injected for the development of Douban's own business.

The direction of Douban's positioning in film and television, music, and book reviews will never change.

Chatted for an hour.

From when Yang Bo bought the domain name from Zhou Buqi, to when he helped build the school intranet, and later separated to start their own businesses... the past is emotional and embarrassing.

Back then, Yang Bo was a high-achieving returnee from the United States.

Times have changed, and the subject and object have changed positions.

Finally, it was settled.

Ziweixing invested 3 million yuan, plus 100,000 shares of stock, to acquire Douban.

Among them, 2 million in cash belonged to Polaris Venture Capital, 1 million in cash and 100,000 in stock belonged to Yang Bo. Since then, Yang Bo has officially become a member of Ziwei Star, with an annual salary of 400,000, M3 level, and 8,000 shares of option for 4 years.

This plan was proposed by Nie Caijun.

Zhou Buqi looked at it, and twitched the corners of his mouth, feeling cold in his heart.

How shabby!

If Yang Bo had joined Xiaonei back then, now he... at least would have 150 million shares, an annual salary of 4 million, and an M8 grade. Maybe the position of Ziweixing's president will belong to him.

Yang Bo sighed self-deprecatingly, and shook his head, "I refused last time, but I won't this time."

Then, after taking the contract, without looking at it, just sign it directly.

Destiny is so rough and twists and turns.

Yang Bo felt depressed and left after signing the contract. The back is a little stooped, full of depression and desolation.

Zhou Buqi sighed and shook his head secretly.

Tang Binchen didn't have much contact with Yang Bo in the past, and couldn't empathize with Boss Zhou. He was very happy to win Douban, and said: "Looking at it this way, the interest circle project is half the success. Next, we will adapt the Douban group and integrate it into Youyou.com, Xiaonei.com, Weizhi, Weidian, and Encyclopedia of embarrassing things are enough to compete with Baidu Tieba.”

Zhou Buqi nodded, "By the way, Weizhi blocked Baidu crawlers, how is it?"

"Then you have to ask Guo Pengfei."

"Let him come here."

After a while, Guo Pengfei ran over panting, "What's the matter? I'm in a meeting, so I'll make a long story short."

Zhou Buqi asked: "Baidu crawler."

Guo Pengfei said: "Oh, it's a trivial matter, you don't need to worry about it, Weizhi has already fully blocked it, and you can't find any Weizhi content on Baidu. However, after blocking, Weizhi's traffic has decreased by 22% .”

Zhou Buqi waved his hand and didn't care, "No response from Baidu?"

Guo Pengfei said with a smile: "Their corporate development department sent us a letter, saying that they hope to cancel the blocking, and the two companies are sincerely cooperating. I ignored them."

Zhou Buqi nodded, "It seems that blocking the reptiles has worked. Li Yanhong didn't call me, but sent a letter in the name of the company... Hey, interesting!"

"Is he angry?"

"Definitely."

Guo Pengfei snorted, "He was the one who provoked us first. The school bought more than a dozen people. But I heard from Shi Jinglin that it seems to have stopped recently. I don't know if their headhunting is over, or they were scared. "

"Scared?"

Zhou Buqi snorted coldly and shook his head.

How famous is Baidu these days? How famous is Li Yanhong? The Government Affairs Council held a meeting to study the topics of the Internet industry and invited Internet entrepreneurs to give lectures, and Boss Li did his part.

The main reason is that Zhou is not too young.

For a young man in his early twenties to give lectures to a group of old men on such an occasion, it was unreasonable on the scene.

Tang Binchen said softly: "Boss Li is very proud. In May, I participated in an Internet forum held in the city, and he took the stage to speak. It was really... as if he was pointing the country, as if the Internet in China was led by him. .”

Zhou Buqi said lightly: "Just wait, Baidu will fight back."

Guo Pengfei said with a smile: "If you fight back, you can fight back. That's Wang Xiaozhou's business."

Zhou Buqi said: "Go away, go and do your work!"

After dismissing Guo Pengfei, Zhou Buqi murmured slowly: "We must hurry up on the interest circle, um, keep it secret. The full-scale competition with Baidu is about to begin."

Tang Binchen said with a smile: "According to Ziweixing's practice, the new semester starts and new products are launched. When the school starts in September, Helo, Jinri Toutiao and Interest Circles can be launched at the same time, as a gift for college students on the school intranet this semester. Especially gold coins system."

"Yes! How is the development of the gold coin system?"

"I'm not sure. The project was taken over by Xu Liangjie. He said that this is a middle-Taiwan project and he needs to coordinate the resources of the group. Last time I went to report to him, it seemed that the progress was quite fast."

"Design it and add the circle of interests to the gold coin system."

"It's not easy to place advertisements in interest circles. The Douban group has no advertisements, and it's a pure waste of money."

Zhou Buqi asked, "Where is Baidu Tieba?"

Tang Binchen shook his head, "Baidu Tieba's advertising is also very restrained, and it pays great attention to user experience, but..."

"Um?"

"I seem to have heard that Baidu Tieba can do soft promotion, cooperate with some merchants, publish some promotional posts, or sell the Tieba directly to enterprises, which are operated by enterprises...mainly some health products, medicines and hospitals. Yes, too much false information."

Zhou Buqi's face darkened, "We will never touch this kind of thing!"

Such incidents in Baidu Tieba have been a tradition for many years. After all, if a company wants to make money, if there is less advertising, it can only go this way.

However, these years, Baidu has too much momentum, and the archway is too upright. Even if something goes wrong, the officials will help cover it up. It wasn't until Boss Li committed a crime and was on the wrong team that such incidents erupted collectively.

Zhou Buqi said: "Slowly explore the matter of profitability, first make the product well, and combine it with the gold coin system efficiently. I have a hunch that the new semester, the gold coin system will make college students crazy."