During the closed-door discussion, Robin was not in the right state.
His mind was constantly thinking, and as he was thinking, he came to a realization.
Since he had to find a backer either way, he might as well look for the biggest one.
Who was the biggest?
De Fengjie's total disposable funds were not even one-tenth of Li Mu's net worth. At this time, the best choice was naturally to support Li Mu.
Li Mu was a strong man, and sometimes he often used underhanded tricks. However, one thing was certain about Li Mu, and that was that he would not slaughter the people who truly stood behind him. On the contrary, as long as the people who stood behind him did not play any tricks, and steadily followed the pace of development of Li Mu, they would definitely get unexpected huge gains.
Of course, if one wanted to get on Li Mu's boat and become a member of Li Mu's big ecology, one must sacrifice enough shares to Li Mu in exchange for his resources.
For Li Mu, his approach was very simple. A total of 25% of the shares was the chain, and the investment of funds and follow-up resources was the meat. If one wanted to eat meat, he had to accept the chain. This was the proper way to play. Otherwise, if one wanted to eat meat but did not want the chain, he would be chased and beaten to death.
In the big ecological strategy of Teng Xun and Alibaba in his previous life, it was unknown how many such chains were held in their hands. On the other end of these chains were all companies and teams that relied on them to survive.
Moreover, these two companies were at each other's throats to the point where if you raised a Tibetan Mastiff, I would also raise it; if you raised a Golden Retriever, I would also raise it; if you raised a Husky, I would also fucking raise it. The various breeds of underlings under them were biting each other all day long. The money-burning wars that would occasionally break out in the subdivisions were like a dog fight between two rich men.
Describing companies as dogs was not because Li Mu discriminated against them, but because he wanted to describe this dependent relationship as best as possible.
Robin was also faced with a choice at the moment. Should his company rely on Li Mu to survive? If he wanted to, he would put on the chain for the company, hand the other end to Li Mu, and then wait for various resources from Li Mu. Otherwise, Li Mu may cultivate a bigger, stronger dog to compete with his own company.
De Fengjie's Jimmy was very depressed. He had called Robin's name several times, but Robin's eyes were still empty, as if he did not take himself seriously.
Jimmy knocked on the table, representing De Fengjie, and stated his demands: De Fengjie could allow Baidu to give 25% of its shares to Li Mu, but De Fengjie required to increase its capital to avoid dilution, and they could also allow other shareholders to cash out their capital increase.
In other words, De Fengjie would rather spend more money than reduce its shares.
This meant that Robin's team, as well as other small shareholders, had another opportunity to cash out.
However, Robin was not interested.
Diluting the shares by 25% was already very difficult for Robin to accept. If De Fengjie did not dilute the shares, he and his team would have to further dilute their shares to give the 25% to Li Mu. In this case, the team would have very little shares left.
And Robin knew very well that as long as Baidu acquired Easy Listening, and Li Mu became a shareholder of Baidu, and exported resources to Baidu, Baidu's market value would definitely soar.
In this case, the more shares they kept, the more benefits they could get.
De Fengjie was very smart, but Robin was not stupid.
Robin looked at Jimmy and said very seriously, "If Baidu decides to acquire Easy Listening and introduce Li Mu as a strategic shareholder, we will not accept any form of capital increase. As the major shareholder and the founder with the majority of the voting rights, I have the right to make the final decision."
Jimmy knew that Robin was going to show his cards.
Now, it was no longer a negotiation, but a fight for benefits. Robin was like a demolition team, determined to tear down De Fengjie's current shares, and De Fengjie was like a holdout, he could not give up his own interests no matter what. At least at this stage, he could not compromise. He had to be a holdout for a period of time, and he would consider compromising when the price of the land rose.
Since negotiation was useless, they could only fight!
If they really wanted to argue about who really had the right to speak, then they would basically reveal the dagger. In this way, De Fengjie's interests might be threatened. Therefore, Jimmy began to bare his fangs and said, "Robin, I advise you to think carefully. Although De Fengjie is not a top investment institution, we still have a certain say in the American capital market. If you don't take our interests seriously, then all the American capital will stay away from you in the future!"
Robin looked at Jimmy, smiled after a while, and said disdainfully, "Jimmy, you've made a fool of yourself!"
Jimmy frowned. "What do you mean?"
Robin laughed and said, "Don't threaten me with my future in the American capital market, because you don't represent the American capital market, and you can't represent it! If you really want to represent the American capital and refuse Baidu, then you can consider withdrawing your investment. As long as you agree to withdraw your investment, I will sell everything I have and pledge all my shares to give De Fengjie the exit fee at a valuation of 120 million. But do you have the courage to do that? "
Jimmy was speechless for a while.
Yes, on the one hand, he said that he would make De Fengjie have no future in the American capital market, and on the other hand, as a capital company in the American capital market, he desperately held onto Baidu's shares. This was obviously contradictory.
Jimmy's face darkened, and he asked Robin, "Do you really have to go this far? At least De Fengjie was the first capital to help you establish Baidu. Without us, you and Baidu wouldn't be where you are today! "
Robin also responded tit-for-tat, "I know that without you, Baidu and I wouldn't be where we are today, so I didn't let you down. When you invested in me, the valuation was only ten million dollars, and now it's more than a hundred million dollars. If you withdraw now, you will get nearly ten times the return. I've done you right!"
Jimmy said, "You should be grateful, and De Fengjie can help you a lot. In a year or two, don't you want to go public on NASDAQ?" Robin nodded, "I want to go public, but I don't necessarily need your help.
Robin nodded. "I want to go public, but I don't necessarily need your help. Jimmy, let's be frank. De Fengjie is Baidu's rocket booster. You have completed the stage mission, and I have given you considerable benefits. However, there is no way for us to cut ties with each other in terms of capital. So, from now on, De Fengjie can just sit back and enjoy the fruits of others' labor. Baidu's development will bring De Fengjie more benefits in the future, but the prerequisite is that De Fengjie doesn't get too greedy, and don't try to interfere with the company's operations. From now on, you are no longer the rocket's booster, but the rocket's payload. Stay safe, and Baidu can take you to greater heights. This is the choice that maximizes your benefits."
Jimmy's face was very ugly. Seeing that Robin was no longer someone he could influence, he stood up and said, "Robin, remember what you said today, you will regret it one day."
After that, he got up and was about to leave.
Robin stopped him and said seriously, "One last thing, do your part as the 'payload', and Baidu will bring you at least a hundred times or even hundreds of times the investment profits in the future. From now on, Baidu will no longer accept any investment from De Fengjie, but De Fengjie is welcome to cash out at any time!"
Jimmy exploded in anger.
The meaning of Robin's words couldn't be more obvious. De Fengjie would never increase his shareholding in Baidu. On the contrary, he hoped that De Fengjie would quickly cash out and leave!
The angry Jimmy slammed the door and left.
After he left, Robin instantly breathed a sigh of relief.
It wasn't a technical thing, but it was something that required courage.
However, Robin didn't regret it at all.
If De Fengjie wasn't so greedy and accepted the fairest solution of equal dilution, then they wouldn't have fallen out today. On the contrary, everyone would be happily waiting for Li Mu to help them make more money.
However, De Fengjie was an organization that pursued its own interests with all its might, even to the extreme.
Since that was the case, they could only fall out.
Once they fell out, there was no need to think about the next problem.
Robin called his assistant and said, "Go and say hello to Li Zong's assistant, and tell him that I have decided to accept his proposal."
15%+10%。
Robin wasn't ready to bargain with Li Mu anymore.
Because De Fengjie was his negative example.
Haggling excessively would only result in more losses.
Instead of that, it was better to do what he did with Jimmy just now. He gritted his teeth, stomped his feet, and made a decision.
So, Li Mu came over with a smile on his face.
Seeing Robin's determined face, Li Mu smiled and asked him, "Robin, have you thought it through?"
Robin nodded and said with a smile, "Li Zong, have you thought it through? The future of Baidu depends on you and your big ecology!"
Li Mu smiled and said, "It's not about relying on me. Let's work together."
Then, Li Mu began to discuss all the details of the cooperation with Robin.
1. Easy Listening Technology will exchange 100% of its shares for 15% of Baidu's shares, and Baidu's existing shareholders will be diluted in the same proportion;
2. Li Mu will purchase 10% of Baidu's shares from all the existing shareholders of Baidu at a valuation of 120 million US dollars. Li Mu will invest 12 million US dollars in cash, and Baidu's existing shareholders will be diluted in the same proportion. Current shareholders can cash out at most 50%;
3. Li Mu will lend 8 million US dollars in cash to Baidu interest-free for three years in his own name;
4. Li Mu, on behalf of himself and the existing shareholders of Easy Listening Technology, will fully authorize the voting rights and board seats corresponding to 25% of the shares after the merger to Robin. Li Mu and other shareholders will not interfere;
5. The default search of YY123 will be permanently set to, and popular keywords will be linked to the search results page;
6. Before Baidu is officially listed, Makino Technology is not allowed to engage in the development and operation of search engine products, and is not allowed to hold more than 20% of shares in other similar competitive companies;
After these details were settled, Li Mu immediately asked the legal and capital operation teams of both sides to conduct in-depth docking. They quickly solved all the problems in the process and asked for the dust to settle as soon as possible.
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