Chapter 339： kakao

Chen William's visit to South Korea this time is of course not just for SNN's business. In his opinion, this investment is just a trivial matter. It is a matter of passing by when he came to South Korea. Otherwise, Zhang Zhao would be enough to deal with it.

The main purpose of coming here this time is to lay out the Internet industry in South Korea.

South Korea, what do you say? The business circle of its capital, Seoul, can cover more than half of the country's population. Therefore, it is very easy for such a country to develop its economy. As long as Seoul is developed, the economy of the entire country can be greatly improved.

After all, the population is small and the land is small. If resources are gathered in such a city circle, it is still very easy to develop. Whether it is national governance or economic development, this difficulty is greatly reduced.

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

This is completely different from China. The population of China is too large, and it is scattered in a vast land area. If the country only develops the economy, it can fully focus on development, drive a group of rich people, and bring the total amount of society up. .

But if we want to achieve common prosperity, it is very difficult. Coastal cities are easy to develop, but what about inland mountainous areas and remote areas? If these people have a sense of responsibility and are unwilling to give up, then they need to spend a lot of extra funds and resources to support them. This kind of thing will not be done by capitalist countries, because there is no cost-effectiveness at all.

Just like when you look at the free shipping area of ​​China and Guangdong Province, its economic size, whether in total or per capita, is very close to that of developed countries, and it slams all Asian countries.

If only these places were developed, then the living conditions in northern Europe would be comparable to that of northern Europe. But this is not possible. It is completely contrary to the country's governing philosophy. The ultimate ideal of socialism is to be prosperous for the whole people. Therefore, even in remote areas that are extremely difficult to develop, the country will not give up, but must work hard to develop, so that the country will not give up. The people there have also become rich, and this is the difference between China and capitalist countries, and it has simple and romantic feelings.

When it comes to 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 a convenient place to attack South Korea, but there is another situation. Because of historical reasons, this country has never truly been independent as a country. It has always been a vassal of neighboring powerful countries. The self-esteem is particularly strong, even to the point of morbidity.

Therefore, it is shown that the public is very supportive of domestic brands, and the same is true for Internet products. It is like an American company, whether it is Google, Facebook or William Chen, who wants to beat local companies in this country's market. is very difficult.

Therefore, it is very important to cooperate with the local people in the strategy of attacking South Korea, and put on a local skin for the company. It’s like the various consortiums that South Koreans are proud of. In fact, Wall Street is behind them, but these controls are very obscure. They transfer profits to Wall Street in various ways, but on the surface, these consortia are holding shares. As well as management, it is a local consortium.

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

At present, in the South Korean Internet market, there is a social software with a higher share than that of kakaotalk.

The founder of kakao is Kim Soo-bum. He previously 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 is a product launched after his departure.

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

This proposal also made Kim Soo-fan very interested, because in South Korea, almost all companies have the support of big financial groups behind them, and the mobile Internet, because it has just started to rise, has not attracted the attention of big financial groups, so it is temporary. Survived, but sooner or later if the kakao company wants to continue to grow, this kind of thing will come.

On the one hand, kakaotalk and the top two mobile social products in the South Korean market are what Kim Soo-fan valued. If they were to be merged according to Chen William's proposal and run by his kakao company, then kakao would The company 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 is not as **** monopoly as China, 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? Don't you have a monopoly in your own field?

Kim Soo-bum was born in a commoner. In a country like South Korea with a serious class fixation, it is usually difficult to have a way to rise. Even if his kakao company wants to develop, it will inevitably need the support of a consortium.

Now, he has another option in front of him, and that is to become a new Internet consortium in South Korea with the support of Chen William's Meta Group and the Future Group. This temptation is not too big for him.

What if there is William Chen's capital behind it? Which south Korean chaebol does not have American capital behind it? But it still doesn't affect their families being able to stand at the top of South Korean society in turn, so why can't they do the same?

And this possibility is foreseeable. Jin Xiufan has studied the Penguin company in Huaguo many times. He is very longing for their model. If kakao company can get users in South Korea with the support of Chen William, By combining the two social software, in South Korea, he can also replicate Penguin's current model-acquiring or "borrowing" all Internet products with a strong number of users, leaving other companies with nowhere to go.

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

It was very simple for kakao to become the South Korean Internet giant in the end.

The premise is to make kakaotalk a monopoly social APP first!

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

Chen William chose to learn Korean after the [Language Amplification Wind Chime] that Chen William could use when he was fully charged. Therefore, after the daily conversation between Quan Zhixian and Li Yuxi and the special professor, Chen William's Korean language at this time was already good. Now, at least the oral language problem is not big, and the usual communication is no longer an obstacle.

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

However, after meeting William Chen, I was very pleasantly surprised to hear that he was fluent in Korean. During the whole process, he was very positive and told William Chen about his plans for the future development of kakao. In general, It is to learn the method of Huaguo Penguin, first complete the monopoly of the South Korean market, and then expand in the mobile Internet industry according to 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 from the process of establishing kakao company, his execution is also very strong, and he has a certain strategic thinking.

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

Chen William will authorize the kakao company to merge with the South Korean users of kakaotalk to become a new kakaoAPP, obtain the right to operate in South Korea, and be able to connect the users of kakaoAPP with the same global users, so that kakao is equivalent to the South Korean version of yes Of course, the premise of this authorization is that William Chen will grant all operations to kakao, and Meta Technology will acquire 30% of the shares of kakao.

Then William Chen invested 100 million US dollars to obtain 24% of the shares of kakao, so that the founding team, including Jin Xiufan himself, held 46% of the shares.

However, 14% of the 24% equity Chen William obtained was held by Future Investment Company, so the shares directly controlled by Chen William were 44%, which was lower than the founding team of Jin Xiufan.

The remaining 10% of the shares are held by Quan Zhixian's CJ Investment Company, which holds 6%; CL Investment Company, which is held by Li Yuxi, holds 4%.

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

So there is no doubt that kakao is a South Korean homegrown company.

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

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