Chapter 1418 Swallowing a Camel Is Not Easy

"From my personal point of view, the biggest problem with Muye Technology's acquisition of Apple is not Apple itself, but the acquisition offer that Muye Technology can give Apple."

Louis Martin said to Li Mu: "No matter how low Apple's market value is, the $3 billion will basically bottom out in this round. After all, Apple still has its own operating system and computer mainframe business, and this wave is too bad. , so there will be a certain oversold phenomenon in Apple's stock price. When the bad news is almost digested, there will be a proper bottoming out. Let's take 3.5 billion US dollars as an example. If Makino Technology hopes to acquire a successful acquisition, the price should be at least 50 More than 100 million yuan, the two parties will have several rounds of negotiation between you and me, and it is estimated that the price of the actual operation should be around 5.5-6 billion US dollars."

"5.5-6 billion?" Li Mu smiled slightly, noncommittal to Louis Martin's words.

In fact, his psychological price, even if it is 7 billion US dollars to buy Apple is not expensive, if 5.5-6 billion can be won, it is really cheap to grandma's house.

However, just looking at the amount of 5.5-6 billion US dollars, although it is cheap, it is also a huge amount of money for Muye Technology. With the current capital volume of Muye Technology, it is far from suppressing that it wants to swallow such a camel. Its share price so easy.

Louis Martin asked Li Mu: "Mr. Li, assuming Apple accepts a privatization acquisition at a valuation of $6 billion, how is Muye going to pay for this huge amount of money? Muye's last round of financing only raised $3.3 billion. If If I remember correctly, 300 million US dollars was used to cash out the shareholders, and the actual injection of operating capital was only 3 billion US dollars, and Makino Technology has invested and built a large number of data processing centers around the world, this money should also be Seventy-eighty-eight of the flowers, right?"

Li Mu nodded and said, "Muye Technology will definitely not be able to get $6 billion in cash, but other solutions can be chosen."

Louis Martin asked: "Are you looking to acquire with some cash and some shares of Makino Technology?"

Li Mu asked with a smile, "Am I crazy? I used the shares of Muye Technology to acquire Apple? Let Apple's shareholders change from holding Apple shares to holding shares of Muye Technology? Isn't this a blessing in disguise for them?"

Louis Martin nodded and asked in surprise, "Then how are you going to raise the funds?"

Li Mu said: "We can negotiate with Apple first, negotiate an intentional price, and then communicate with Apple's shareholders, pay part of the cash first, and then pay the rest after the listing of Makino Technology, and pay them a considerable interest additionally, what do you think? Is it possible?"

Louis Martin said: "I personally think that Apple's shareholders may not agree. They are all masters of capital. If they are no longer optimistic about a project, they will choose to stop loss and cash out as soon as possible, and then use the money to make other investments. What people don’t care about the most is the interest rate, on the contrary, they are all people who like to give other people interest rates and invest other people’s money.”

Having said that, Louis Martin looked at Li Mu and said expectantly, "Mr. Li, in fact, the best way is for Muye Technology to raise another round of financing and use the raised money to acquire Apple. The current valuation can reach more than 70 billion US dollars, if you raise another round and dilute 10% of the shares, the funds for the acquisition of Apple will come out, and the remaining money can be used for other layouts.”

Li Mu smiled slightly and said, "Before the IPO, I'm not going to refinance."

Muye Technology's current user volume, product strength, team strength, and support strength are all very strong, and the gap between it and other competing products has also widened by 108,000 miles, and YY's value-added service income is very considerable, "Paradise". Small Town", "Plants vs. Zombies Online" and the YY game hall are also very profitable. There are also giants such as Muying Ticketing System. The overall profits are very considerable, and there is no need to burn money in all business lines. At the time of planting, Li Mu no longer needed a lot of capital to snatch the market, so he diluted the shares,

Completely worthless.

However, for Louis Martin and Sequoia, they are also very optimistic about the future of Muye Technology, so they also hope to win more shares of Muye Technology before Muye Technology goes public. The market value of Muye Technology is rising fast. , beyond imagination, the sooner you get the shares of Muye Technology, the sooner you can lock in huge profits.

Although Li Mu is not going to raise money, money is indeed the biggest problem when he wants to acquire Apple now. Li Mu does not have that much cash, and the most valuable thing in his hand is the shares of Muye Technology, but at this time, it is really not worthwhile to exchange shares for Apple.

However, having said that, now is the best window to acquire Apple. Both Apple's stock price and the confidence of Apple's managers will completely bottom out in the recent period. Now that there is a future problem, if you wait for the bottom to rebound and then try to get apples, the cost will definitely be much higher.

This is similar to the mentality of domestic retail investors to invest in stocks. When the stock continues to fall below the limit, the stocks in their hands want to sell but they can’t. At this time, they dream of cutting the meat quickly, but once the limit is opened, many people are reluctant. He sold it because he felt that since the down limit has been opened, it indicates that the rebound is not far away. He might as well sell after recovering some of the losses, and even hope that the stock can rise to a new height.

After much deliberation, Li Mu still felt that it was the safest to acquire Apple in the near future, so he said to Louis Martin: "Louis, I will immediately set up a business unit dedicated to the acquisition of Apple. Senior consultant of the Ministry, you have worked hard for the past two days to help you sort out the specific plan of Makino Technology to acquire Apple, and also started to investigate the lowest price that Apple may accept. After the World Health Organization lifts the warning of the epidemic in China in the past few days, I will personally go to a company. Go to America and get this thing down."

Louis Martin nodded and said, "Since I'm here, I'll do my best to help you and Makino achieve your goals, but then again, why do you have to wait for the WHO to lift the epidemic warning before going to the United States?"

Li Mu said: "I do my duty as a public figure. I stayed in Yanjing throughout the epidemic, hoping to take myself as an example and improve everyone's confidence in resisting SARS. I don't want to leave the epidemic area because of me. , and it affects some people.”

"I see." Louis Martin said, "In this case, we will start preparing for it in the past few days. We are not in a hurry. After all, Apple will not be able to deal with this mess in a while."

...

Up to now, the SARS epidemic in Yanjing and the whole country has been under very effective control. According to the first-hand information obtained by Muye Technology, there have been no new patients in Yanjing these days, and patients in Xiaotangshan Hospital have also recovered one after another.

According to this rhythm, it will take less than a month for the impact of SARS to end completely. At that time, the people of the whole country will be able to breathe a sigh of relief.

However, Li Mu speculated that the WHO should not be so strict. They could not wait until all the patients were discharged before announcing the lifting of the threat. Judging from the actual situation of domestic epidemic control, even if the threat is lifted now, there is nothing wrong. question.

Once the WHO announced that the crisis of the outbreak in China was over, Li Mu's mission in SARS would be complete. The first thing Li Mu would do was to fly to the United States as soon as possible to clear up the recent backlog in one go.

The most important issue is the acquisition of Apple, in addition to other business development of Makino Technology in the United States.

Mark Zuckerberg's Facebook has also been launched. In order not to interfere with his own thinking, and in order not to let Muye Technology frame Facebook's development space, Li Mu adopted a loose operation mode for this project, letting go Mark Zuckerberg fiddled with it himself, but even so, Li Mu still had to find out about the situation and see if there was any deviation from this young man's thinking pattern compared to his previous life. , he continued to let him run forward by himself.

There is also Elon Musk, who has been waiting for further communication with Li Mu on the electric vehicle and commercial launch vehicle projects. These two projects will take a long time and funds to develop slowly. Before getting Li Mu's final answer, Elon Musk didn't dare to act rashly.

Li Mu plans to go to the United States to complete all these things in one month, and then communicate with the people of Sequoia Capital about the listing of Makino Technology in the United States. Now that the company is developing smoothly, it is time to plan the IPO.

IPO is an opportunity to create miracles for a company like Muye Technology.

The capital market is relatively calm. How much is Makino Technology worth? The valuations given by capital are also relatively conservative. Although according to Louis Martin, Sequoia Capital is willing to give Makino Technology a latest valuation of more than 70 billion US dollars. But Li Mu is very disapproving of this valuation.

A mere America Online has a peak market value of nearly 200 billion US dollars, while Makino Technology only takes one YY out of it. Which data is not far beyond that of AOL in terms of number of users, influence, and coverage? Not to mention the huge power when the entire ecosystem is integrated into one, such an Internet giant has a valuation of only 70 billion US dollars, which is really nonsense.

However, Li Mu is also very clear in his heart that with the nature of capital, a valuation of 70 billion is not a pit, and a maximum of 80 billion is too high, because they also have to reserve profit space for themselves, and even they are waiting in their hands. Its shares skyrocketed after listing, so it is impossible to value Makino Technology with the market value after listing.

For the circulation market, investors have great confidence in a healthy and story-telling company, which can often bring a higher price-earnings ratio to the company, and the final result is that the stock price and market value soar even more.

Based on the current market conditions of the entire Internet industry, if the acquisition of Apple is successful, Li Mu is confident that after the IPO of Muye Technology, the market value will quickly exceed 150 billion US dollars, and even after Mango-ME2 and YYtunes mature and Muye Technology successfully digests Apple, it will hit 200 billion US dollars. Market value mark.

By that time, the fundraising amount of Muye Technology will probably reach 20 billion US dollars, and that is the real realization!