Chapter 289: The Killer Weapon and Good News
In his email reply, Moritz congratulated Jerry Yang for the significant progress in his recent negotiations with SoftBank Group, and expressed his full understanding of the concerns of Jerry Yang and Ferro.
When Li Xiaofan read Moritz's email, he felt that the first part was full of polite language, and the second part was the trump card.
The trump card that excited Li Xiaofan was the attachment in Moritz’s email: This is an “Internet Analysis Report” from Morgan Stanley, commonly known as “Mogul” in the financial world. The main content of this report is The drafter was Mary Meeker.
It was Mary Meeker, who was later called the "Queen of the Internet" by Wall Street and a influential figure in the global Internet era. In August of this year, Mary Meeker represented Morgan Stanley in successfully excavating and listing Netscape on Nasdaq. She is currently in the limelight!
Moritz said in an email reply to Jerry Yang: Jerry, I believe you are also very familiar with Ms. Mary Meeker from Morgan Stanley. I have accompanied her to Yahoo for several in-depth visits recently. Research. The nearby "Internet Analysis Report" in my email is internal information just obtained from Morgan Stanley yesterday, and the main drafter is none other than Ms. Mary Meeker. The current global Internet trends she pointed out in this report are: email is the ‘killer application’ of the current Internet, and information browsing services will be tomorrow’s ‘killer application’!
Moritz said in the email, please be patient and read this "Internet Analysis Report" from Morgan Stanley. This analysis report makes a very bullish bet on our company Yahoo, as well as Internet companies such as America Online and Amazon. This report drafted by Ms. Mary Meeker proposed for the first time some indicators of network traffic monitoring such as "page views". She believed that the value of an Internet company cannot be evaluated purely based on book profits...
Ms. Mary Meeker predicts that free email services are the 'killer application' of the current Internet. The current provision of free email services will likely bring huge Internet traffic, while services such as our Yahoo company that provide browsing information will Is tomorrow's 'killer app'. Therefore, it is recommended that Jerry and Ferro consider whether Yahoo should develop a free email service?
Moritz finally mentioned in the email that Ms. Mary Meeker suggested that Yahoo can start preparations for listing on the Nasdaq early next year as soon as possible. Her company, Morgan Stanley, is willing to host Yahoo's initial public offering. Lead underwriter of the IPO. According to private communications with Ms. Mary Meeker, her current reasonable market value assessment of our Yahoo company is approximately US$300-500 million.
Moritz said in the concluding remarks of the email: If this latest "Internet Analysis Report" from Morgan Stanley is circulated within Wall Street investment banks, with reference to Ms. Mary Meeker's valuation of our Yahoo company, Wall Street's valuation of Yahoo could exceed SoftBank's current price. Please refer to the above opinions to all shareholders...
After Li Xiaofan read this reply email from Moritz, he felt like he had received a shot in the arm and he suddenly became excited!
When Yang Zhiyuan called, Li Xiaofan had suggested that Yang Zhiyuan communicate with Moritz to start Yahoo's IPO work as soon as possible, and it seemed to have a certain effect.
Li Xiaofan also has to admire Mary Meeker’s judgment on the current global Internet trends: free email is the ‘killer application’ of the current Internet. Li Xiaofan knew that free email services would bring huge traffic, but this required capital support and high requirements on backend server capacity. Therefore, the current "free email" service of the Singapore Yahoo website is actually not open to all the public. Currently, free email services are only provided to merchants who create personalized web services and some internal VIP members.
Morgan Stanley’s “Internet Analysis Report” couldn’t be more timely!
After receiving the reply email from Mr. Moritz of Sequoia Capital, Li Xiaofan immediately forwarded the reply to Jerry Yang on Moritz's email, and also copied it to Moritz and Ferro.
He said in his reply email:
Dear Jerry, thank you for your hard work and the significant progress in negotiations with SoftBank Group...
After reading this "Internet Analysis Report" from Morgan Stanley forwarded by Mr. Moritz, I personally think that given Morgan Stanley's huge influence in the industry, Wall Street will have a new assessment of our Yahoo company. value.
So at this moment, I support Mr. Moritz’s opinion and believe that Yahoo’s IPO process on Nasdaq should be launched as soon as possible.
Another good news I want to tell you is:
The opening of Yahoo Singapore Station, through media reports, has given Yahoo a huge influence in Singapore and Asia.
Recently, Ascendas Group, which is responsible for park development and investment promotion under Singapore's JTC Jurong Group, contacted our Singapore company. Ascendas Group plans to make a global investment advertisement on the American Yahoo website. Ascendas Group will recommend in its advertisements the Sino-Singapore Suzhou Industrial Park, the first joint project between China and Singapore developed by their group, as well as the Singapore Science Park and other projects developed and operated by their group in Singapore...
In addition, Singapore City Development, which is responsible for the development of the luxury villas in the Sentosa Bay villa area in Singapore, also intends to do an advertisement on the Yahoo website in the United States. The luxury villas in the Sentosa Bay villa area in Singapore are currently approved by the Singapore government and are the only villa luxury villa area that can be sold to non-Singapore citizens and global wealthy people.
My assistant Desha is currently working hard to connect with Singapore Ascendas Group and Singapore City Development. At present, the annual Internet advertising budget of the two companies may exceed 1 million US dollars...
In addition, I would like to report to all shareholders that the Singapore Yahoo station has been progressing very smoothly since its launch on October 12. At present, in cooperation with the Singapore Small and Medium Enterprises Association, more than 1,200 Singaporean small and medium-sized enterprise member companies have been personalized. The income from the web page production service fee for each merchant is more than 1,000 Singapore dollars, and the income from the web page production fee alone has exceeded 1.5 million Singapore dollars. Recently, many local businesses in Singapore and from neighboring Malaysia and other places have contacted our Singapore Yahoo company to connect with the advertising business on the Yahoo Singapore site...
The content of Li Xiaofan's reply email is very similar to the content of the email from Mr. Moritz of Sequoia Capital. The meaning of the words is:
Morgan Stanley has issued an Internet report. Our Yahoo is not worth 150 million US dollars. We can have a new round of negotiations with Softbank and other venture capital companies such as IDG.
The opening and operation of the Yahoo Singapore site is good, and it is even profitable. It may form a replicable overseas Yahoo site model project, which is very beneficial to the overall valuation of Yahoo in the United States.
At present, we should start the IPO listing and stock raising process of Yahoo on Nasdaq as soon as possible!