Chapter 1340 Intimidation and Lure

In a short period of time, Robin asked himself countless times in his heart.

Why would I, a dignified student studying in the United States, a technology pioneer in the computer field, and a complete elite, be beaten and even unable to maintain my original level in front of a young man in his early twenties like Li Mu?

He obviously has 80% strength, even if his Li Mu's strength is 80%, he should at least stick to his 80% strength. Why should he be affected by his 80% strength when he encounters his strength? To a big discount?

This feeling is really depressing. It's like playing a game. Not only is the opponent's attack and defense much stronger than his own, the key is that he also has a buff that reduces the enemy's damage and defense. What should I do? Robin is also very desperate!

Li Mu actually summed up a truth long ago, negotiating, we must stand in the attitude of crushing to destroy the opponent's psychological defense, even if the ability is not enough to crush, but also to achieve crushing in the momentum.

In fact, Robin can say with a lot of backbone: "What tricks do you have, I'll follow, let's see you in the rivers and lakes."

But he didn't dare, because he had been completely crushed by Li Mu's aura. He believed in Li Mu's threat, and subjectively believed that Li Mu would do it at that time. At the same time, he lacked confidence in himself. Baidu and Google poach people and use their own resources to make search engines. I am afraid that Baidu will soon be impacted. If Li Mu really cooperates with Google, Google should not ignore this world-class technology. Internet giants, if Google cooperates with Li Mu, 80% of Baidu will still die...

Subconsciously, Robin stopped thinking about how he should resist, he just thought about a question: "Li Mu wants to apply for the certificate, and if he accepts the certificate, he will be on his boat, it's not a bad thing, Everyone wants to be able to lean against a big tree to enjoy the shade, but the crux of the problem is how much is the ticket price for the back to the big tree!"

15% of Baidu shares?

To be honest, it's really high.

YiTing Technology really doesn't have such great development prospects, especially after Li Mu has already spun off Tieba.

And Baidu's valuation of 120 million US dollars is indeed not too high, and the future is very promising, but if it is diluted by 15% at this time, it will have the right to speak to itself and the team in the future. And in terms of capital operation, the situation is too embarrassing.

Jimmy is also very worried. What he is worried about is that if Baidu agrees to Li Mu's request, how will the 15% stake be given?

Normally, if a shareholder wants to sell 15% of the shares, then all shareholders must sell in equal proportions. Defengjie now accounts for nearly 23%. If they want to sell 15%, they must take out nearly 3.5% of the shares. Defeng Jie doesn't want to dilute his shareholding right now.

He wanted to speak, but when he thought of Li Mu's vicious tongue, he flinched again.

At this time, Robin said, "Mr. Li, we need to discuss what you said."

Li Mu said, "Yes, we can go out at any time and leave the conference room for you to discuss."

Robin nodded: "Okay, then please give us an hour, let's discuss it carefully."

Li Mu said, "I have one more condition that you can discuss together."

Robin hurriedly asked, "What conditions?"

Li Mu said: "In addition to replacing 15% of Baidu's shares with YiTing Technology, I personally want to invest 10% of Baidu's shares in cash. The price can be as you said, 120 million US dollars, and 10% of the shares are sold to me in cash. You original shareholders cash in first."

Having said that, Li Mu looked at Robin and said with a smile, "Robin, you haven't had a chance to cash out since you started your business, right?"

Robin hasn't recovered from Li Mu's 10% lion's big mouth. Hearing Li Mu's question,

He nodded subconsciously: "Not yet."

How can it be so easy to cash out?

Capitals like Defengjie are behind them, and they will monitor every penny they give to Baidu. Although they won't pay attention to every one, they also require that all the money must be used for Baidu's own operations. In a fanny pack? Don't look at Baidu's current valuation of over 100 million US dollars, but you can still only get a monthly salary! Really get paid! The shares are placed there, and capital is not allowed to cash out!

In fact, this is not to blame for the capital. If the capital invests in a team or a project, if the valuation is 10 million yuan, and they are given 1 million yuan and 10% of the shares, the 1 million yuan must be used by them to run the company, not Give it to them, otherwise they will get 1 million and turn their heads, and the company still has no money to operate. In a few days, the company will become yellow, won't the capital become a successor?

Therefore, almost all capitals will put forward clear requirements for their investment objects and prohibit cashing, unless when the capital invests in this project, the project has been financed for many rounds, has a good foundation and development space, and the investee has If you have the right to speak, you will ask the capital how much to raise and how much to cash out.

Just like Li Mu, he directly made a clear request to Sequoia when he completed the C round. The shareholders have to cash out 10% of the 3.3 billion US dollars, which is 330 million US dollars, which will be directly shared by the shareholders. .

At this time, Li Mu struck while the iron was hot and said, "I invested 12 million US dollars in Baidu, which is regarded as a direct purchase of the shares in your hands. You can cash out freely. I have no opinion."

Robin was surprised by Li Mu's generosity. The investment is allowed to be 100% cashed out. Li Mu really gave a very attractive offer. Everyone has been in business for so long, and they are worth it, but they have not made any money. They are struggling to start a business. On the road, everyone wants to get a big sum of money to reward themselves first. If 12 million US dollars comes in, and if half of it is cashed out, then the founding team will also have tens of millions of RMB to share, which can make the core layer truly get rid of poverty and become rich.

But, having said that, Li Mu wants 10% of the shares, which is too much.

Yiting.com came in and took 15%, Li Mu took 10%, and a quarter of Baidu's shares were gone. If Li Mu's request was agreed, then all shareholders would have to dilute their 25% shares. Defengjie has to give about 5.75%, 60% of the founding team has to give 15%, and the remaining small shareholders have to give 4.25%.

At that time, Robin's own shares will shrink to just over 25%, and Li Mu will become Baidu's second largest shareholder.

With so many shares being diluted, Robin would inevitably feel pain, so he suggested that there should be a communication within the team first, Li Mu respected his decision, and withdrew from the conference room with all the people on his side.

Before leaving, Li Mu looked at Robin and asked him, "Robin, how many shares does De Fengjie have in Baidu?"

"Around 23 percent," Robin said.

Li Mu nodded: "What about voting rights?"

"Equal shares, equal rights," Robin said.

Voting rights mean the actual management power of the company. Whoever has more voting rights can actually control the company's decision-making and development direction. Sometimes, investors have the same rights and the same rights, that is, they hold as many shares as they want. Voting rights. In some cases, investors will give up their voting rights and hand them over to the founders of the company.

For a start-up company, capital rarely gives up voting rights. Only when investing in mature companies will capital make such a concession. For example, Russian investment god Yuri-Milner not only gave up voting rights when investing in Facebook. , and also gave up the board seat, in order to show his favor to Mark Zuckerberg, tell him that I just want to make money with you, respect your decisions, and will not fight against you at any time.

However, Robin did not have the fate of Mark Zuckerberg’s heyday when he was founded. Although he was not willing to share the same rights, he has not yet found a suitable opportunity to withdraw his voting rights.

Li Mu smiled slightly and said to him: "Although it is the same shares and the same rights, your team's voting rights are still more than half, so I suggest you, don't pay too much attention to De Fengjie's attitude, in this matter , they should respect your decision unconditionally. If they threaten follow-up funds, then I can promise you in the contract that as long as you accept my conditions, in addition to an investment of 12 million dollars for Baidu, I will also Within one month, I will unconditionally lend Baidu an interest-free loan of US$8 million, with a repayment period of three years, which can be extended for five years if it is not enough, and if it is not enough, I will lend another US$10 million to Baidu next year.”

Having said that, Li Mu added: "If you accept, I will sign a concerted action agreement with you, entrusting all the voting rights corresponding to my shares to you, and I will not forcefully interfere with Baidu's operation and development. direction, give you enough respect."

Although he said that, Li Mu knew very well that he could not not interfere with the future development direction of Baidu, otherwise it would go astray, and he would be held responsible, but even if he got 25 shares, and the same shares With the same power, I can’t have the absolute right to speak. If I really want to interfere strongly, the impact will not be very big if there is this 25%. Therefore, it is better to give up the 25% and use other means to interfere and restrict in the future. Baidu's future development direction.

After Li Mu showed Robin his muscles, he was ready to throw a clear signal of solicitation to Robin. It doesn't make much sense to follow Defengjie. In fact, Defengjie's future depends on Baidu to develop and grow, so Li Mu wants to Give Robin a guarantee, a guarantee that he can ignore De Fengjie. All Robin's worries are just money. As long as he promises himself, De Fengjie will only become more and more marginalized in the future, and the voting rights are not enough, and Robin There is also a concerted action agreement signed by the owner of the team's shares, which means that Robin still has an absolute dominant position in the right to speak.

This made De Fengjie's Jimmy feel a little uncomfortable.

If it is really ignored by Robin, then he is likely to directly agree to Li Mu's request. At that time, De Fengjie will have to dilute his shares.

In fact, De Fengjie does not reject the dilution of shares, but Li Mu Shishi opened his mouth and wanted too much! They originally wanted to reduce the shareholding expenditure for the acquisition of EasyTing Technology to 10%, but Li Mu not only did not let go, but also proposed to ask for 10% more, which made De Fengjie very uncomfortable.

However, Robin was instructed by Li Mu's words. If he has a new capital guarantee, then there is really no need to look at De Fengjie's face all the time. You are an investor who makes money, just follow the money and don't meddle in your own business. !

Unconsciously, the relationship between Robin and De Fengjie has undergone a qualitative change under the influence of Li Mu...