Chapter 1055 Peers Are Enemies
Lawrence's humor greatly enlivened the atmosphere of the scene, but when he entered the question-and-answer session, his previous humor did not win him the attention of the media reporters. All the media reporters focused on Li Mu. There are too many questions to ask Li Mu who is sitting next to Lawrence.
When countless media reporters raised their hands, Li Mu said with a smile: "I'm sorry everyone, I'm from China, so I'd better take care of China Media first. The first opportunity to ask a question is from a reporter from China CCTV. ."
The microphone was given to a female CCTV reporter in her twenties. Although the other party was certain that Li Mu would definitely give CCTV a chance to ask questions, he did not expect that Li Mu would give himself the first opportunity to ask questions so openly and directly.
The female reporter stood up and asked Li Mu: "Mr. Li, there are many professional comments on finance and the Internet. They all agree that you choose American capital to talk about the C-round financing of Muye Technology, and the ultimate goal is for the company to be listed in the United States. , I would like to ask you, in your plan, is Makino Technology really inclined to go public in the United States?"
When Li Mu heard this question, he smiled slightly and said very frankly: "Yes, I do tend to let Muye Technology be listed in the United States in the future."
The female reporter asked, "Can you tell us why you did this?"
Li Mu said seriously: "As the most developed market in the Internet industry, the understanding, tolerance and recognition of the Internet by American society and capital far exceeds that of other countries. The Internet industry is different from the physical industry, and most of the assets of Internet companies are intangible. The specific evaluation of assets and intangible assets requires the market environment as a basis. If you want the market value of Muye Technology to be recognized to the greatest extent, you must choose to list in the most mature market, otherwise there must be a phenomenon of being seriously undervalued. Development has a big impact.”
Li Mu didn't know why CCTV reporters asked him whether he decided to go public in the United States in the future, but Muye Technology's ambition to go public in the United States is now very obvious, otherwise he would not be able to go to the United States to raise funds, and at the same time in the United States Above such a big movement.
The reason for not considering listing in China is not that Li Mu is not patriotic, but that Makino Technology is not suitable for listing in China at present.
First of all, domestic A shares have very strict thresholds, and they are not suitable for today's Internet companies, especially profitability indicators;
A-shares require listed companies to make continuous profits within a certain period of time, but most of the Internet companies are burning money. Although Muye Technology can barely rely on YY and Paradise Town to be self-sufficient, this is only the current situation. If the financing is successful, the cash burn will start immediately. At that time, the negative book profit of Muye Technology may be scary to death. It is normal for the negative book profit of several hundred million US dollars or even more than one billion US dollars a year, and it is fundamentally incompatible with A shares. Require;
Second,
There are still no Internet companies in A-shares, and the entire capital environment lacks sufficient understanding and recognition of Internet companies. Even if Muye Technology can be listed on A-shares, the valuation will be much lower than expected. Broken legs.
After the CCTV reporter asked questions, Li Mu chose the American CNN reporter for the second time.
A CNN reporter, a middle-aged man in a suit, asked Li Mu: "Mr. Li, the speed of development of Muye Technology has shocked the entire US Internet industry, and it has become a direct competitor with Microsoft MSN. I think The question is, in your eyes, which Internet companies in the United States are likely to become strong competitors of Muye Technology?"
Li Mu thought for a moment and said: "There is no doubt that there are many great Internet companies in the United States, whether it is Google, Microsoft, Oracle, etc., all of which are examples of Muye Technology, but in my opinion, I hope that all Large American Internet companies can become competitors of Muye Technology."
As soon as Li Mu's words came out, many reporters expressed surprise. The meaning of Li Mu's words is obvious. He hopes to become competitors with all large Internet companies in the United States. .
The reporter asked: "Mr. Li, can I understand that Muye Technology is not satisfied with the current development direction, and will develop into more fields in the future?"
Li Mu nodded: "For me personally, I will not confine Muye Technology in the field of instant messaging software, I also hope that there is an opportunity to allow Muye Technology to develop horizontally and open up the front line. Once the front line is opened, it will naturally have more opponents."
Then, a reporter from The Wall Street Journal asked Li Mu: "Mr. Li, as far as we know, the valuation of Muye Technology in the venture capital industry has exceeded 20 billion US dollars. Are you satisfied with the valuation of 20 billion US dollars? ?"
Li Mu laughed. Although he didn't know why the reporter from The Wall Street Journal asked this question, he still answered: "I must answer your question honestly. First of all, am I satisfied with the valuation of 20 billion US dollars? I can tell you clearly that this price is raised at a certain stage, and I am definitely satisfied, but that stage is not now; secondly, I think the speed of thinking of most VCs cannot keep up with the development speed of Muye Technology. Under these circumstances, if we want to reach a cooperation, then they must be catching up with our speed, because the development of Muye Technology will not stop because of them. If they can't keep up, then their valuation to Muye Technology will not have any value. practical meaning."
Li Mu's words have made it clear that the valuation of 20 billion US dollars is not attractive to the current Muye Technology. If capital wants to invest in Muye Technology, it must set a price that can really catch up with the development speed of Muye Technology.
Not long ago, when Li Mu offered a price of 17 billion US dollars, the media was surprised by Li Mu's overconfidence. At that time, many media writers criticized him, thinking that his offer was basically impossible to be recognized by any venture capital. , But I didn't expect that after such a short period of time, due to the continuous success of Li Mu's various strategies, the VC's initiative to value Muye Technology has exceeded 20 billion US dollars, and now, Li Mu has completely taken the initiative, and he has already 20 billion. I couldn't look down on him, and this time, no media dared to ridicule Li Mu like they did before.
A reporter from The New York Times asked: "Mr. Li, in less than two years, you have built an Internet empire with a valuation of more than 20 billion US dollars, which is an incredible success all over the world. So what do you think contributed to your success and the success of Muye Technology?"
Li Mu said: "There is an old saying in China called 'the right time and place are right for people', which roughly means that to win a war, you need to have excellent climatic conditions, favorable geographical environment and stable military spirit, and the climatic conditions are understandable. For opportunities, the geographical environment can be understood as the environment, and the military spirit can be understood as the inner aspirations of the team members, and Muye Technology just has these three points.”
The questions and answers of the first few questions were generally harmonious, and Li Mu's answers also satisfied the questioners. Next, Li Mu actively hoped to select several media from the Internet industry to ask questions.
Yahoo was the first to get the chance, but what Li Mu didn't expect was that the Yahoo reporter's question was full of gunpowder.
"Mr. Li, as we all know, the Internet industry is developing very fast, but the bubble is serious, and the speed of update and iteration is also very fast. As an instant messaging software, YY is indeed very popular in the US market, so what do you think, How long can YY be popular with users? Or, when do you think the YY bubble will burst?"
Li Mu didn't expect that the first question from his colleague would be so unfriendly.
However, it is also in line with Guo Degang's classic remarks that only peers are enemies.
What's more, in 2000, Yahoo's market value climbed to a scale of 100 billion US dollars, and it is currently the number one company in the Internet industry. It is understandable that Yahoo people are pretending to be arrogant.
So, Li Mu looked at the provocative white Yahoo reporter, smiled slightly, and said, "Although you are a Yahoo reporter, I'm not sure how much you know about the Internet industry, let's put it this way, in my eyes , YY is a just-needed product and is highly irreplaceable. In contrast, as a portal website and a free email service, Yahoo itself is not a just-needed product, and the substitutability is too high. The next ten years will continue to develop, but if Yahoo does not transform as soon as possible, I am afraid that it will start to decline in the next few years, if you want to see the bubble burst, it is more realistic to wait and see Yahoo.”
Among the Internet companies in the United States, the most interesting is Yahoo, because in Li Mu's eyes, Yahoo has made mistakes all the time except for finding the right development direction at the beginning of the Internet's birth.
Missed the opportunity to buy Google at a low price, but when you wanted to buy it, you found that you couldn't afford it;
It was originally possible to acquire Facebook for one billion dollars, but there was no business ethics at the critical juncture, and it wanted to further reduce the price to $850 million, but was flatly rejected by Mark Zuckerberg, and when Facebook made an offer of more than $1 billion, Facebook It has been completely abandoned;
In 2008, Yahoo had been losing for many years. In order to fight against Google, Microsoft made a $50 billion offer for it, but was rejected by the proud Yahoo;
In 2016, Yahoo finally found a seller and was taken over by the US communications giant Verizon for $4.8 billion...
In Li Mu's eyes, Yahoo can be said to have been reluctant to make progress since 2000, and while eating its own money, while going downhill, it did not forget to pretend to be coercive. The most ridiculous thing is that Yahoo has been in the booming Internet and mobile Internet for so many years. In the field, there is rarely any commendable achievement, which is really funny.
But now, the funny Yahoo reporter actually looked down on Muye Technology, which made Li Mu quite unhappy, so he didn't take into account the presence of so many media, let alone that Yahoo was still the industry's first, and directly attacked in public.
The reporter didn't expect Li Mu to be so direct, and subconsciously asked: "Yahoo's market value is at least six or seven times that of Muye Technology. Why do you think Yahoo's bubble will burst instead of Muye Technology?"
Li Mu said with a smile: "It is impossible for Yahoo to affect Muye Technology at all. On the contrary, Muye Technology can affect Yahoo in many ways."
The reporter was also young and energetic, and being so choked by Li Mu, his pride and arrogance as a Yahoo employee was aroused. He said excitedly: "How does Muye Technology affect Yahoo? Please give an example."
Li Mu smiled slightly and said: "I didn't plan to vigorously promote YY mailboxes in the United States, and I didn't think about launching YY's English portal immediately, but since you have objections to Muye Technology, I might as well give you a demonstration. Let you see whether YY can influence Yahoo, or Yahoo can influence YY."