Chapter 906

When Tom Anderson, eBay's vice president, interviewed Peter Thiel, one of PayPal's founders, Meg Whitman was struggling with the board's anger.

When there is bad news in the market, it's hard to save the decline of stock price by operation. Meg Whitman let all shareholders' shares shrink by 7% in one day. However, this is just the beginning. Once PayPal signed a contract with Muye technology and Muye technology officially controlled PayPal, eBay's share price will fall another round.

Twice in a row, the stock price dropped at least a dozen percentage points.

Meg Whitman has been anxiously waiting for Tom Anderson, waiting for his feedback. If Tom Anderson fails in this effort, I'm afraid this matter will not be saved.

Just when Meg Whitman was impatient, Tom Anderson called and said, "PayPal and Makino technology together give us a perfect offer!"

"What offer?" asked Meg Whitman

Tom Anderson's voice was a little shaky, and he said: "Peter til just talked to Elon Musk and Li Mu on the phone in China. They have a new idea. They both want us to hold PayPal, but we can only hold 51% of the shares. Li Mu's Pastoral technology wants to hold 29% of the shares of PayPal, and the original team accounts for the remaining 20%!"

Meg Whitman's heart suddenly relaxed, 51% already good! Absolute holding is enough. At present, she only dare to expect so much, but when she thought that Muye technology would also participate, she frowned: "that Li Mu would also come in? And then we became partners with him? "

Meg Whitman doesn't like Li Mu very much. A 20-year-old Chinese kid who hasn't dried up has brought so much trouble and crisis to herself. She doesn't want to become a partner with Li Mu in the future.

Tom Anderson said: "Li Mu means that he wants Muye technology and eBay to import resources to PayPal. At the same time, he is willing to use YY to cooperate with us to promote eBay's business in all countries except China. In return, we should also tie up with his YY to enter overseas markets, that is to say, in the future, both sides can reach a strategic alliance."

Meg Whitman was a little surprised.

Li Mu even wanted to not only invest in PayPal, but also cooperate with eBay. Besides PayPal, the two companies cooperated directly, which was a little unexpected to her, but Meg Whitman was excited when she thought about the advantages and disadvantages.

No way not excited! No matter what I think about Chinese Internet companies and Li Mu, I can't deny that YY is really in a strong momentum. Unlike eBay, it needs to invest a lot of cash and resources to make any market. YY is not the same. It can quickly capture the elite in this market without spending a penny. This plague like self-communication power That's what eBay dreams of.

If we cooperate with Li Mu, eBay and YY will surely be able to achieve mutual benefit, take what we need and grow together in the future.

This is not the most important thing. The most important thing is that if eBay succeeds in controlling PayPal, its biggest crisis will be able to survive. Moreover, if eBay and Makino technology establish a partnership, it will be another huge good news for eBay. By then, eBay's share price will surely soar.

Thinking of this, Meg Whitman has made a decision at the bottom of her heart. Both public and private must agree to the offer immediately, and let the offer land as soon as possible. Otherwise, her pressure is too great to bear.

At this time, Tom Anderson said on the phone, "but paypal and Makino technology have a relatively demanding requirement."

Meg Whitman blurted out, "what's the request?"

"While PayPal is willing to let us and Makino technology take a stake at a valuation of US $1.5 billion, the problem is that they let us pay for Makino technology's 29% stake first, and then sign a contract in the form of interest free loan to Makino technology, and Makino technology will repay us the money after round C financing," said Tom Anderson

Meg Whitman almost bled.

It's not that I was angry, but that I finally saw Li Mu's way of playing.

She knows that Muye technology is preparing to finance round C, but there has been no clear news, which is understandable. The valuation of Muye technology varies from day to day, without mentioning a suitable price, Li Mu will never let capital in easily.

If you want to raise money, you haven't raised it yet. That is to say, Li Mu doesn't have a lot of cash flow on hand. With a valuation of 1.5 billion US dollars, he has 29% of the shares. Li Mu needs to pay 435 million in cash. You don't have to know that he certainly doesn't have so much money. Otherwise, whoever has so much money will go to raise money.

Li Mu is smart. Li Mu is very clear in his mind that if he first raises money and then shares in PayPal, capital will inevitably take advantage of it. So if he wants to take advantage of it, he must first invest in it and then finance it. If he can first invest in it, he has no money. What should he do? Can only play the most shameless empty handed white wolf.Now Meg Whitman has seen that Li Mu and paypal have joined hands to force his own army and almost cornered him. Now he has come up with such an attractive offer to lure him. If he agrees, he will pay the 435 million dollars for Li Mu. Although he is not willing to be the enemy in his heart, he has no way to deal with the situation.

Once he promised the offer, Li Mu became the shareholder of PayPal without spending a penny. Although he owed 435 million yuan on the book, the company's valuation increased by more than 435 million yuan.

When she thought about this, Meg Whitman had ten thousand grievances in her heart, but she was helpless to realize that once she felt this kind of grievance in her heart, it means that she had decided to accept it subconsciously.

So she said to Tom Anderson, "come back as soon as possible, and I'll report it to the board of directors. When you come back, I'll call the board of directors together."

……

On the morning of September 20th.

Before Li Mu set out for Muye technology, he deliberately wore a very decent formal dress and put on a special spirit of dressing up.

There are two reasons for wearing formal clothes: one is that we have already made an appointment to go to the school to attend the new year's party this evening, and give a speech to the new students' younger brothers and sisters at the party;

the other is the news released by Muye science and technology yesterday. This morning, we will hold a press conference in Muye science and technology.

The reason for the launch was simple. EBay accepted its offer, including borrowing 435 million dollars to Makino technology to buy 29% of PayPal.

The press conference was of a large scale. It not only invited all domestic media, but also media reporters from all developed countries in Yanjing.

At the conference, Li Mu, along with Elon Musk I and representatives of eBay, officially announced to the outside world that eBay and Muye technology had jointly invested in PayPal, and everyone would sign a contract at the conference site.

In addition, Li Mu will also announce that in the future, Muye technology and eBay will reach a strategic partner for overseas market development. Once announced, this news will be a great good stimulus for both eBay and Muye technology.

At present, the media do not know that Muye technology and paypal have reached a cooperation agreement with eBay, so today's press conference will definitely become a major news in the Internet industry, even in the financial industry.

This time, eBay was really crisp. On the same day, after the board meeting, it accepted its offer and couldn't care to send someone from the United States to sign the contract. After the three parties' Legal Affairs confirmed the contract remotely and there was no problem, eBay directly entrusted their person in charge in China to sign the contract with Li Mu and Elon Musk on behalf of eBay.

In fact, the core terms of the three-way cooperation contract are very simple. The two sides, with a real valuation of US $1.5 billion, respectively invest 51% and 29% of their shares. Within 15 working days after the signing of the contract, the two sides will pay the funds to the account, and then the whole process of equity participation will be completed.

According to the regular process, before one company invests in another company, it is necessary to do a perfect due diligence and audit work for this company first, but Li Mu is in a hurry. As for all due diligence and audit work of PayPal, eBay has already done it, and it is requested by a very professional team. At that time, it was the due diligence and reconciliation based on the valuation of 1.5 billion US dollars Audit, now the valuation has not changed, so Li Mu also gave up the reconciliation audit and directly recognized the valuation.

Before the official signing of the contract at the conference, Li Mu had to sign a loan agreement with eBay's representative in private. EBay would lend $435 million to Muye technology, which would be paid to Muye technology's US branch within three working days.

This money is completely interest free, and there is no clear repayment date. The repayment time is written as follows: within 30 working days after Muye technology completes the next round of financing and the amount of financing reaches the account.

That is to say, if Li Mu wants to refinance for a year and a half, eBay will not urge repayment, as long as it pays back their money after financing itself.

EBay has a lot of money. It has set aside 1.5 billion yuan of cash from the stock market for PayPal acquisition. At present, even those who lent to Li Mu are only 80%, that is, 1.2 billion dollars. So they don't have any financial pressure on this. For the board behind eBay, they don't care about borrowing this money from Li Mu. After all, once the three-way cooperation contract is signed, eBay can stay in the United States all night Publicize the great good news.

Once the money is paid, it will be paid to PayPal by the U.S. branch of Makino technology, which will formally complete the entire equity investment, and then there will be a separate debt relationship between Makino technology and eBay.