Chapter 1167 At All Costs

The two have been partners for so many years, and of course they know each other very well.

Hastings knew Randolph's temperament very well. It was very stable. The more serious things happened, the more calm he became. It perfectly complemented his sometimes irritable temperament in the past.

Hastings knew one thing deeply. Once Randolph was as determined as he is now, then what he was doing at that time would have at least a 60% success rate if not a 90% success rate.

Hastings immediately objected. He did some operations on his computer and said, "Dear directors, I just sent you an email about the benefits that our cooperation with Wal-Mart will bring to the company. It contains detailed information. I hope everyone can make a decision after reading this email,"

"We have to think about it carefully," said the old director who repeatedly criticized him. "From your speech just now, I vaguely saw the passion you had when you came to solicit investment a few years ago, but, alas ," he sighed, "Hastings, what you are talking about now is not your original dream, but how to get a company to acquire us,"

During the conversation, the disappointment was palpable.

Why am I like this? Hastings himself couldn’t explain clearly, “Believe me, Mr. Exxon, any decision I make is for the benefit of the company and shareholders.”

After saying this, he really couldn't say anything else at this time.

"I happened to be studying Wal-Mart recently," said a well-known university professor who is an independent director. "As far as I know, it has only focused on acquiring companies in the retail industry. It has not been involved in mergers and acquisitions of companies in other fields. This Will it break this tradition?"

"When doing sales, they may choose to do leasing as well. However, if they are asked to invest more resources to focus on leasing, I am not sure whether they will have such determination,"

When he said this, he was obviously not optimistic about it.

"Traditions are always going to be broken," Hastings said.

"Even if Wal-Mart is interested in acquiring it, how likely is it that it will bid against NEXTDOOT?"

The independent director who spoke was the CEO of another company in Silicon Valley. "We all know that Wal-Mart is famous for its frugal approach of making good use of every dollar. What's more, NEXTDOOR and Wal-Mart are not in the same industry."

In an acquisition war, the white knight introduced is often in the same industry as the one initiating the acquisition and is a competitor. In this way, the white knight will take proactive actions for his own benefit.

He shook his head, "I also think that it is very difficult to promote such a merger. To a certain extent, we are still competitors of Wal-Mart. Will it have the opposite consequences if we take the initiative to come to you like this?"

Hastings felt his heart bleeding!

Originally, another approach to ask someone to acquire it would always remind him of the humiliation he had received at Blockbuster. He overcame that sense of shame and once again took the initiative to propose such a plan. He never thought that it would be so unexpected. Approved by everyone.

Should I go find Blockbuster again? No, never!

Although he believed that if he approached Blockbuster again this time, Blockbuster would definitely welcome him. Blockbuster CEO John Antioco, who had drooped his eyelids and looked at him sideways, would definitely greet him at the gate in person.

But Hastings would never give them that chance again.

"Believe me, I have repeatedly weighed the relevant risks, which are also explained in the email," he could only say at this time.

"In this case," Randolph also operated on the computer, "this is the reason why I agree with the acquisition of NEXTDOOR, and I also ask all directors to consider it carefully,"

Hastings is tempted to move to remove Randolph as a director on the spot, but this is currently unrealistic.

Not to mention the rules of procedure of the board of directors, there are strict regulations, and the chairman cannot change the agenda that has been set at will.

In addition, the appointment and removal of directors is also very serious. When a board meeting is held, the matter must be explained in the notice and the identity of the director must be clearly stated so that directors can be prepared.

Let's just say that if he really did that at this time, it would definitely be shooting himself in the foot.

Under the current circumstances, if Randolph was proposed to be removed from the director's qualifications, the direction would be obvious-because Randolph is standing against himself.

In this way, it will definitely affect his prestige in the board of directors and win more sympathy for Randolph. Not only will he inevitably lose his qualifications as a director, but it may also make this proposal, which is not very approved of in the first place, even less likely to win. All support.

At this meeting, it was rare that Hastings walked out of the conference room after Randolph. He eagerly communicated with every director, but turned a blind eye to Randolph.

Of course, Randolph's attitude was not much better than his.

…………

Down the Mississippi River, in a small town in Arkansas in the southern United States, Gary, the vice president of Walmart who was also in charge of DVD rentals, hurried back to the office after a meeting. His secretary reported to him with a notepad, "Gary, there is a guy who claims to be Netflix Hastings, the company president, called and asked to speak to you,"

Netflix’s Hastings calling? Gary was stunned. He had never seen this person, but of course he had heard of it. However, the current relationship between Netflix and himself was not very harmonious. The following department reported that Netflix was following the company's steps to implement some of the company's new initiatives. , what does he mean by calling at this time?

He looked at his watch and saw that there were still nearly five minutes left before the next item on the schedule. "Get his call now,"

Although Walmart currently has not surpassed Netflix in related business fields, Walmart was named the largest company in the United States last year. How can there be any pressure on Netflix at this time?

The call was quickly answered, "Hello, I'm Gary,"

Hastings over there was probably chatting on the phone, and Gary really didn't have time to listen to this, "Mr. Hastings, I also admire Netflix's success in the DVD rental field, but it will be available in a few minutes." Attend a meeting, then I will ask directly, how can I help you? "

This was originally a greeting directly used in supermarkets, but Hastings on the other end of the phone felt a very familiar feeling from this sentence, just like when he took the initiative to find Blockbuster. The same thing, politeness cannot hide arrogance.

But, so what?

"I hope you can interview me as soon as possible?" Gary pondered for a moment, "In this way, the day after tomorrow, that is, after four o'clock in the afternoon on Thursday, I can spare half an hour. Can you come? Okay, I'll be waiting for you at the company. ,"

Gary was also a little confused at this time. If we were talking about companies like Sears, Kmart, Carrefour, and Metro, he knew exactly what happened yesterday and where they opened new branches. But He really had no time to pay attention to a company like Netflix that he was only slightly related to and had no direct business dealings with.

"Help me collect Netflix's information and recent developments, and inform the manager in charge of online DVD rentals that I will listen to his business report at noon on Thursday, so arrange it during lunch time," he told his secretary.

In Silicon Valley, Hastings put down the phone and took a long breath, as if exhaling the unhappiness in his heart. However, next, an imminent question came before him. Which person should he visit first tonight? director?

Judging from the reactions at the meeting just now, it is certain that my plan is at a disadvantage. In order to get the approval of the directors, I must first get the approval of the most influential director.

In the past, this person was naturally Randolph, but now, well, it’s better not to say anything.

Hastings, who has been having a hard time recently, really feels a little bit confused at this time.

After thinking about it, he still felt that the old Exxon who was the most rude to him today was the best target. The independent directors had no commercial connection with Netflix and had aloof status. For the sake of their own reputation, their opinions would be aloof.

But Exxon is a shareholder director, and he values ​​returns more seriously than those who are non-independent directors.

…………

"I knew you would come," Ackerson said, sitting in the living room of the hotel suite, with a bulldog leaning on the chair. "Tell me, what reasons do you want to use to convince me?"

"Eric, I didn't expect that we would be targeted by so many people. Maybe it's because we are too good. Since it seems that Netflix is ​​inevitable this time," he still endured I couldn't help but feel a little sad, but it was also a momentary emotion, "Well, Exxon, you should know that in the process of being merged and acquired, having more bidders is always a good thing for our shareholders, are you right? ?”

This is of course a good thing for shareholders. With one more bidder, the company will be acquired at a higher price.

…………

Just over ten minutes later, Hastings hurried downstairs. What annoyed him was that until he left, whether he supported himself or Randolph, that old fox from Exxon still didn't reveal a word, but , Hastings believed that Exxon must have heard the reason he said.

While waiting for the waiter to bring his car, a Prius parked in front of the hotel. Just by looking at the license plate, he knew it belonged to Randolph. Obviously, what the brother saw was similar.

Hastings turned his head to the side, and Randolph walked towards the hotel without looking sideways. The two former good partners and friends were now strangers.

Randolph naturally saw Hastings, but he didn't have any worries because he believed that everyone could see that his choice was ultimately beneficial to the company.

Ackerson was still waiting in the living room, watching Randolph nod his head, looking a little uninterested, "As expected, you are here too, tell me."

"Exxon, first of all I want to apologize to you. I bear a lot of responsibility for Netflix to develop to where it is today,"

Exxon nodded for the first time today.

"Although I think I have worked very hard, judging from the current results, I may not have worked hard enough, or in other words, our capabilities in some aspects are still very limited,"

"But Exxon, now we have a good opportunity to have a visionary and capable person who is willing to lead Netflix forward in the same way that he has led other companies that have stalled. The key is, he has already Very good direction and very thorough preparations, you know who I’m talking about, right?”

"Of course I do," Ackerson nodded again.

Even if he didn't know it before, now that NEXTDOOR has made such a big move, how come he doesn't know Feng Yiping behind it?

"Then what I want to say is very simple, Exxon, do you want Netflix, which you once favored, to become a company with a great future?"

"You believe him?"

"I give him a lot of credit," Randolph said without hesitation.

…………

At 10 noon on Wednesday, Netflix’s board of directors held another meeting.

The agenda of this meeting is very simple, which is a continuation of the last extraordinary meeting, that is, voting.

The conference room was very solemn. The secretary of the board of directors read out the agenda according to the script. The 12 directors almost all had the same expression, all with solemn expressions.

This is understandable, after all, this temporary meeting is related to the future of Netflix.

Hastings was no exception. In front of directors who knew the inside story, he did not act like he had everything under control.

"The vote will begin on Mr. Hastings' motion," the supporter finally said.

"I object," Randolph said loudly at once.

This is natural. Hastings looked at Exxon. Exxon looked at Hastings and shook his head, "I object,"

Hastings's heart suddenly sank, and his face turned darker than Little O'Hei.

Among the five non-independent directors, including him and Randolph, a total of four company executives, the CFO and COO are naturally on his side, so he has a guaranteed vote of 3, and with Exxon, he has 4 Of the 7 independent Dong Li, he was sure of getting 2 votes, but he was not sure of getting 3 votes.

However, no matter what, if Exxon does not support it, then his proposal has no chance of passing.

Sure enough, Murphy's Law worked normally again. With every "objection", his face became darker and darker, and finally he was very suitable to come to China to advertise toothpaste for black people.

The final result was that, including him, 4 voted in favor, 7 voted against, and 1 abstained.

…………

Hastings walked out of the conference room very quickly this time. He immediately called to book a flight himself, "I want a flight to Northwest Arkansas Regional Airport tomorrow morning."

So what if the board of directors fails? He has never been a stickler for rules when it comes to big things.

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