When Li Mu suddenly said such a sentence, not only Jimmy was stunned, but everyone present was also stunned.
Jimmy didn't know how he offended Li Mu. This guy spoke to him so rudely as soon as he came up, but he really couldn't afford to offend Li Mu. VCs like De Fengjie were considered powerful in front of entrepreneurs, but in front of a god like Li Mu, they were not even worth a fart.
The total scale of the fund managed by De Fengjie was only one billion US dollars, and this money was all their own. Not to mention De Fengjie's Asian president, even if the president of De Fengjie came and Li Mu scolded him, he still wouldn't dare to say a word.
Robin was surprised by Li Mu's attitude towards Jimmy, but he was happy in his heart. At least Li Mu helped him vent his anger.
Jimmy was very strong in front of him, and he even repeatedly pointed out the business development of Baidu, which made Robin very unhappy, but he had no choice. He took De Fengjie's money, so he had to give him face.
Moreover, Baidu had not found a suitable profit model yet, and the whole development route was still burning money. Whether it was the acquisition of Yi Ting Technology, the second round of financing, or capital increase, he had to ask De Fengjie for help.
In fact, Li Mu's thinking was very simple. He was negotiating with Baidu for the merger and acquisition business, and this should be a business operation. Someone like De Fengjie should not have appeared in today's negotiation. He did not care how many shares De Fengjie owned in Baidu. No matter how many shares De Fengjie owned in Baidu, it was his own business. He could communicate with Baidu in private, or even scold Robin in private, and it was none of his business. But if De Fengjie insisted on intervening in the negotiation between two business teams, it was a little f * cking disgusting.
For Li Mu, Jimmy was an uninvited guest, so there was no need to save face for such a person. He was already giving him face by not kicking him out.
Moreover, Li Mu expected that Jimmy came over to intervene in today's negotiation, so in order to prevent him from making any more noise, he gave him a show of strength first.
After that, both parties took their seats. Li Mu glanced at Robin and said, "Robin, you start first."
Robin nodded and said, "Li Zong, we have communicated with your company's team several times before, and the intentions of both sides are actually highly unified. Baidu wants to acquire Easy Listening Technology, and you also want Easy Listening Technology to be acquired. It's just that we haven't reached a consensus on the valuation issue."
Li Mu asked, "Robin, what is Baidu's current valuation?"
Robin said, "Our last round of financing was 65 million USD. After this period of development, we are confident that Baidu's current valuation can reach 120 million USD."
Li Mu asked him, "Okay, you said it's worth 120 million dollars. Where did you get this number?"
Robin explained, "This valuation is quite reasonable. Our Baidu's recent traffic growth trend is relatively good, and …"
Li Mu interrupted him with a smile and said, "Robin, although I don't want to interrupt you, you are not answering my question. My question is, how did you get the valuation of 120 million USD? Was it given by an authoritative third-party agency, or did you make it up yourself?"
Robin said awkwardly, "Li Zong, we are very confident in this estimate …"
Li Mu waved his hand and said, "Robin, the figures you make up are meaningless. If you say that Baidu is worth 120 million USD, then okay, I say that Easy Listening Technology is worth 30 million USD. After you acquire Easy Listening Technology, the total market value will be 150 million USD. My 30 million should account for 20% of the shares. Then let's happily decide that Baidu will acquire 100% of Easy Listening Technology's shares, and all the shareholders of Easy Listening Technology will get 20% of the shares after the acquisition by Baidu. Do you agree?"
Robin hurriedly said, "Li Zong, this is too unreasonable …"
Li Mu asked him back, "Why is it unreasonable? You say you're worth 120 million USD, and I say I'm worth 30 million USD. Why is it that you're reasonable and I'm unreasonable? "
Robin was a little shaken by Li Mu's assertiveness and explained, "Li Zong, Easy Listening Technology's current UV and PV is much worse than Baidu's, and Easy Listening Technology currently does not have a mature business model. The development potential of the search engine is much greater than the vertical field …"
Li Mu laughed and said, "Robin, the development potential of the search engine is great, but don't forget that you still have Google behind you. I have reason to worry that in the future, Google will exert its power in the Hua Xia market and continue to eat into Baidu's market share. But looking at the whole market, there is no one that can compete with Easy Listening in the field of online music and music downloads. At that time, it is likely that all the users will be using Google's search engine, but they will still be using Easy Listening to listen to music. So, who do you think has the greater development potential?"
Jimmy had been listening to the translation beside him in a low voice. At this time, he couldn't help but say in English, "Li Zong, I think you are confusing me. What Robin wants to say is the development prospects of the two fields. It is like a car manufacturer and a match manufacturer. Even if the match manufacturer has a higher market share in the industry, its development space is much worse than that of a car manufacturer!"
Li Mu looked at him and gave him a friendly smile. Jimmy didn't know why, but he felt a chill from Li Mu's smile.
Li Mu smiled, held out a finger, and said to Jimmy in English, "First, I just told you, just listen and don't talk."
After saying that, he raised another finger. "Second, if you talk to me about capital issues, I'm willing to listen to you. But if you talk to me about specific business in the Internet field, your point of view has no value to me at all."
Then, Li Mu held out another finger, "Third, your metaphor just now is obviously belittling my Easy Listening Technology. If Baidu is a car manufacturer, then Easy Listening is at least a tire manufacturer. Moreover, Baidu's current position in the industry can't be ranked in the car industry. Correspondingly, Baidu is at most the French Peugeot or Citroen in the car industry, while Easy Listening is the Michelin or Bridgestone in the tire industry!"
Speaking of this, Li Mu looked at Jimmy and said seriously, "And you, like a bank that lent to Citroen, actually went to the business cooperation between Citroen and Michelin to talk nonsense. Do you have the right to do so?"
Jimmy didn't know how to refute Li Mu's words for a while. Li Mu's spoken English was a mess, and his words were also sarcastic. Jimmy was no match for him at all.
Robin tried hard to hold back his laughter. After Li Mu finished and Jimmy lowered his head to show his weakness, he continued to say, "Li Zong, if you have any objections to the valuation, we can find a third-party audit company to audit and evaluate our company to see how much the third-party authoritative company approves of the valuation of both our companies."
Li Mu waved his hand, "Robin, don't beat around the bush. An audit company can only audit the net assets and accounts. Can they see the future development of the industry? Can they see the future development potential of each company? If they can't see it, then what are they auditing for? We are both Internet companies, what do we have in terms of net assets? Besides a bunch of computers, computer rooms, and patents, what does Baidu have in terms of net assets? "
Robin felt a headache coming on. Sometimes, Li Mu didn't play by the rules, and he was too strong. So sometimes when he opened up a different path, he had to go around the other side and let the other side take his path as the main road.
Seeing that Robin was thinking, Li Mu stopped him from thinking deeply and said, "Robin, I insist on exchanging Easy Listening for 15% of Baidu's shares. There is no way we can go back on this point. And as a friend, I can tell you very frankly that Easy Listening is a pledge of allegiance to Baidu. Now I'm giving you a choice. It's not a question of whether or not you want to acquire Easy Listening, but a question of whether or not you want to get in the car of Makino Technology and my car;
"If you accept this pledge of allegiance, I can promise you that Makino Technology will not consider making a search engine in the next five years, and I will direct all search engine related resources to you;
"If you don't accept this pledge of allegiance, then when we leave this conference room, Baidu will be the enemy of Makino Technology. I can poach your people and Google's people to make my own search engine, or I can find Google to cooperate and set up a Google-Mu Ye joint venture to develop the Hua Xia market together. I can even invest in other big names like you who are interested in making search engines!"
Robin looked at Li Mu dumbfounded and exclaimed, "Li Zong, didn't you tell me last time that you weren't going to make a search engine?"
Li Mu nodded and said with a straight face, "That was last time, I've changed my mind now."
"How can you do this …" Robin looked at Li Mu gloomily, as if he had been cheated.
Li Mu smiled and said, "Robin, are you going to say that I'm a man of my word?"
Robin immediately nodded and did not speak.
Li Mu laughed and said happily, "Robin, don't let subjective likes and dislikes affect your judgment, it will make you seem childish and cute."
After that, Li Mu said again, "Let's put it this way. If you raise a dog and want to sell it, and I want to buy it, after I pay, I can say that I'm sorry, I don't want to buy it, and please give me back my money. This is indeed a man of my word."
"But!" Speaking of this, Li Mu deliberately paused and looked at Robin with a smile. "Let's say you raise a dog, and one day you ask me if I want to raise one too. I say I don't want to raise one, but after a while, you see that I have a dog, and then you come to accuse me of not keeping my word. This is not a question of whether I'm a man of my word or not, but a question of whether you are too naive! So what if I want to raise a dog? If I'm in a good mood, I'll raise one, I'll raise ten! That's what my family has! What's wrong? "
All the staff of Muye Technology couldn't help but laugh out loud, and the staff from Baidu couldn't help but laugh as well. It was particularly uncomfortable to hold back their laughter.
On the other hand, Robin immediately blushed at Li Mu's words.
He also reflected in his heart that he was too naive to blame Li Mu for not keeping his word, which was indeed a little too naive.
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