Chapter 1018 The Collapsed Valuation System

In fact, the boss William White is very incompetent, and Yahoo, which is about to go public, is the top priority of White's investment.

Not to mention other things, just a valuation, a group of Wall Street bigwigs have already quarreled.

Two years ago, how much valuation could you give to a company with only one million hits?

One hundred million is too expensive, right?

Without White's investment, no one would bet on it. This valuation is simply outrageous. Was it worth ten million when you William White invested it?

Not worth it, five million at most, but so what?

In 1996, Yahoo's weekly visits directly jumped to 45 million.

But so what!

You lost more than one million a year, how do we calculate the price-earnings ratio? One billion, it can't be higher, this is the final offer, we won't add another dime!

However, in the last quarter of 1996, Yahoo's advertising revenue exceeded 10 million. According to the contract they have signed now, just advertising revenue alone has the opportunity to challenge the 100 million mark this year.

The population of the United States is about 270 million, and less than 20% of them are Internet users. Yahoo's weekly hits are close to 100 million.

Fuck, a billion? Come, come, I will pay 1.5 billion in cash for the overall acquisition.

A company of 180 people, is it worth 2 billion? As the lead underwriter, Morgan Stanley has collapsed a bit.

"Asshole, what does White Investment say about the guy who said he wanted to buy it as a whole?"

"Ahem, boss, refuse, William White will inject another 200 million. The valuation is 2 billion."

For a moment, Andy felt that the air around him was condensing. Nima, Damo is so embarrassing this time, will you guys play it?

If it is really listed at a valuation of one billion yuan, this will definitely be the biggest joke of the year.

"Is this just decided?"

"Yes, William White is back, and rejected the foot basin man at the first time?"

"Softbank, right?"

"Yes, the foot basin man flinched. I don't know why."

"Huh, what's so strange about this, William White has a close relationship with the Footbath consortium. Softbank? Does he think he is Mitsui?"

Of course William White wanted to squeeze the old grandson's space, just kidding, if something goes wrong, it will not end well.

So, on the first day back in Los Angeles, he decided to clear the venue.

Get out, you are worth at least one billion dollars, although you are considered powerful, but is there any comparison between us?

To be honest, Felson was very puzzled. Of course, it is impossible to be acquired as a whole. It seems a bit excessive to drive away investors directly, right?

Yang Zhiyuan knew the news at first, and of course expressed his dissatisfaction. In fact, he and Sun Zhenyi had already talked about each other.

But, two billion!

The rich is the uncle, there is no doubt about it. Moreover, William White does not want strategic investors, he just restricts shares.

What made Morgan Stanley dumbfounded was that there was still more than a month to go public. If you make a fool of yourself at this time, investors should vote with their feet.

But instead of shrinking, investors got even more excited. After leaving a Softbank, a bunch of foot basin consortiums rushed in instead.

Is this a conspiracy? William White went to the foot basin this time for this?

Fund managers on Wall Street were dizzy, and they really didn't know what to say in the face of inquiries from various clients.

Do you dare to say no?

Think about Netscape and Pixar, didn't you try your best to belittle it?

What happened afterwards?

Customers who felt cheated, of course voted with their feet. You bastards, will you invest in it?

Damn, why doesn't the White Fund engage in private equity.

"Warren, you are a rare visitor. If you order something yourself, I won't get up to greet you."

William White didn't mean to snub Buffett on purpose, not to mention the power behind him, even this guy's age, you should have corresponding respect.

Buffett couldn't help laughing at the piles of documents. Well, there seems to be something wrong with the rumors from the outside world. To be able to approve so many documents, this is not some dandy.

"Are you, the documents that have been piled up for a year?"

"How is it possible, these are required to be signed, many things have been emailed, and these have legal effects, it is impossible to use email."

"Hahaha, I don't have so many documents to sign."

William White cast a sidelong glance at the man and offered him a cigar. "Here is one of Cuba's top products. It is said that all of them are made by beauties, and you don't want any ugly ones."

Buffett wasn't polite to him either. When it comes to enjoying it, he's really not as good.

Lighting the cigar, William White turned his sore neck. The clicking sound made Buffett on the opposite side very speechless. You bastard, don't go out for a while, it will definitely not be so hard.

"Warren, I'm in business, so of course I have a lot of things to do. If it's an investment company, I'll finish it in two days."

"Yes, the purpose of coming today is to ask for advice."

"I don't dare to ask for advice, let's discuss with each other. Actually, I like your investment philosophy very much. By the way, I am the major shareholder of your company, don't you know?"

Buffett adjusted his glasses and took a puff on his cigar. How could he not know that the nearly 5% shareholding is almost the largest individual shareholder.

"I'm curious, since you also agree with value investing, do you think the current Internet companies are valuable?"

"Of course there is, and at the same time, let me correct you, I didn't say that the Internet didn't have a bubble.

On the contrary, many companies simply mess around. You know, my venture capital company has rarely invested in Internet companies in the United States. "

"You're saying that good companies still have value."

"In fact, the Internet is a winner-takes-all industry, and the competition is extremely fierce.

Moreover, the first-mover advantage is very important. Without So easy, Yahoo's valuation would be even higher. You see, Yahoo dominates everything from clicks to ad revenue. "

"Does the winner take all? The risk is a bit high."

"It's a big deal. So easy started earlier than Yahoo and has more funds than them. However, So easy lost. Although the gap is limited, losing is losing.

However, there are also advantages. The search engine is basically these two.

In fact, the ideas of the two companies are different. Yahoo is equal to So easy plus NBC Online. It is a portal website plus search, and here I am completely operating two systems. As for the reason, I think you should be able to guess. "

"Hahaha, anti-monopoly? This is a rainy day."

"Hey, they are very upset with me. Any guy who comes up always wants to kill me. Of course, I will also send a big meal to every guy who comes up."

The grievances and grievances between William White and the Department of Justice are known to almost every American. Overall, he plays a nice guy who gets bullied.

Since he is a good guy, the Ministry of Justice is naturally evil. If things go on like this, the relationship between the two will be good.

William White wasn't sure how much Buffett would listen. In general, he will make some attempts.

Because everyone's identity has arrived, some things can be said directly. In this regard, both William White and Buffett have good reputations.

What, why is this old boy so cheap.

Think too much, it's just money outside the street, whoever has the ability will get it. If Buffett invests, Yahoo's valuation will increase again.

If you insist on not letting others take advantage of it, then simply privatize it.

Privatization may be a good choice. However, have you ever seen a privatized Internet company?