Tan Yaocheng felt quite complicated when he was about to see Li Mu again. The current valuation of Makino Technology has far exceeded that of Baidu. In his eyes, Li Mu was just a personal webmaster similar to Li Xingping, but he didn't expect that he would be in such a short period of time. Makino Technology has reached such a high level within a short period of time.
Tan Yaocheng doesn't understand, and he can't figure it out. Makino Technology under the control of Li Mu is like a plug-in, just like the super player in the legend who has the coordinates and vision of the whole map. Compared with him, other companies are like those Players at the lowest level have no map, no coordinates, and only a small field of vision illuminated by candles. In order to find a location, they may have to walk around the entire map in a roundabout way.
From the beginning to the present, Makino Technology has taken one step at a time, and every step has shocked the entire Internet industry. And he is not even twenty years old this year. No one knows how much room for development Makino Technology will have in the future.
What makes Tan Yaocheng most heartbroken is that Baidu withdrew from Makino Technology and exchanged Makino Technology's shares for 20% of Yiting's shares. Looking back now, it is like exchanging a watermelon for a sesame seed, and the loss is extremely heavy.
Now, Tan Yaocheng has been ordered by Mr. Li to talk to Li Mu about the shares of Yiting.com. The golden age of MP3 search has begun. If Baidu cannot integrate Yiting.com, then it will really miss this great opportunity. It's a good time. With the current influence of Yiting.com, Baidu can no longer directly do MP3 search without it. If Baidu does this, Li Mu will definitely go against Baidu, and the gain will not be worth the loss.
For Baidu, the best way is to acquire more shares of Yiting.com from Li Mu, achieve absolute control as soon as possible, and then directly integrate Yiting.com.
The two met at seven o'clock in the afternoon, and Li Mu was a little late for seven or eight minutes. When they arrived at the restaurant, Tan Yaocheng had been waiting for half an hour.
As soon as they met, Li Mu apologized to Tan Yaocheng: "I'm sorry, Mr. Tan, I was too busy and was delayed for a while."
Tan Yaocheng smiled slightly, pushed up his glasses and said, "You are a very busy man now. You have so many things to do. If you have time to see me, I will be very satisfied."
Li Mu sat down opposite Tan Yaocheng and said with a smile, "But speaking of which, we haven't seen each other for a while."
Tan Yaocheng nodded: "Who wouldn't tell me? We have been very busy recently. We have just developed a search plug-in for IE. From now on, users can directly enter keywords in IE to search."
Li Mu smiled and said: "You are very active in developing your business now. Are there any new directions in other aspects?"
Tan Yaocheng said with a smile: "No matter how active our business is, we can't compare with your Makino Technology. If you look at your recent actions, it's too frequent. Even QQ has been killed by you. I see next year, Makino Technology will be the leading company in China." It is the largest Internet company. When the time comes, it will definitely be no problem for you to be on the rich list."
Li Mu said: "Those are all false and cannot be cashed out."
Tan Yaocheng said: "Who said you can't cash out? The capital market will give you a valuation of 6 billion, and you can get a sum of cash immediately just by nodding your head."
Li Mu smiled and said: "Forget it, I have no idea of cashing out now. After all, I don't have any shortage of money on hand, so why bother to raise money to cash out."
Tan Yaocheng asked him curiously: "Are you planning to not raise funds before going public?"
Li Mu nodded: "As long as Makino Technology's cash flow is positive, I don't need to raise funds. YY will soon start accepting commercial advertising, and the income will increase by a certain amount. The cash flow will be enough."
Tan Yaocheng sighed: "I really envy you. Even Mr. Li often laments that we Internet people who came back from overseas think that we are the most Internet-savvy people in China, but none of them are as good as you. There are so many Internet companies in China now. , there are only a few who have truly found a business model, and you are one of them. YY’s income is so stable, which is also the main reason why capital is particularly attracted to Makino Technology.”
Li Mu said: "You can't just look at YY's revenue without looking at YY's costs. Our current team of several hundred people has extremely high labor costs and office costs, and the cost of server bandwidth is also extremely high."
Having said this, Li Mu couldn't help but ask him: "By the way, Mr. Tan, you should know many senior talents in data processing. Can you introduce me to some and help me set up a few IDCs (Internet Data Centers)?"
Tan Yaocheng said: "Are you planning to build a large data center?"
Li Mu nodded: "I have had this idea for a long time, but there have been no high-end talents in this field. We have focused our energy on competing with Teng Xun some time ago, and now is the time to start taking precautions."
In the future, large Internet companies will cooperate with operators to build their own data centers, which will not only reduce costs, but also provide better server and network support for their products. Li Mu also wants to provide powerful server support for Makino Technology. So this piece has been put on the agenda.
Tan Yaocheng said: "At that time, I can introduce you to some senior engineers in the industry, give you some suggestions, and even help you solve some problems."
Li Mu smiled and said, "Thank you very much. I'll treat you to dinner after it's done."
Tan Yaocheng waved his hand: "As for our relationship, do you still need to be polite about this?"
With that said, Tan Yaocheng also started to get down to the topic and said to Li Mu: "Actually, I asked you to come out to meet today because there is something I want to discuss with you."
"you say."
Tan Yaocheng said: "That's right. We have been deeply inspired by Makino Technology recently and want to develop dependent products with Baidu search as the core. We are very interested in MP3 search. Mr. Li said that you had promised him before that we would do it within three years." He left Yiting.com and transferred all his shares to Baidu, so he wanted me to ask you, can you do a round of equity acquisition first?"
Li Mu smiled and asked, "How much does Mr. Li want to acquire?"
Tan Yaocheng said: "What Mr. Li means is to give Yiting.com a valuation of 500 million, and we will acquire 30% of the shares in cash from you and another shareholder."
Li Mu nodded. The offer of 500 million is not low. After all, it is difficult to find a profit model in the field of MP3 search, listening and downloading. It can only do the simplest traffic advertising. Judging from the current traffic of Yiting.com, the advertising revenue is The potential is about one to two million per month. Even if there is room for growth, overall it is not worth five hundred million.
If sold to other companies, it is estimated to be only one to two billion, but Li Mu will definitely not sell it at this price, and other companies may not buy it if it is higher. But it is different for Baidu. Their core business It’s search. Now the demand for MP3 search is increasing, but Yiting.com controls most of the traffic and users. If Baidu wants to increase the size of its search service, it must capture MP3, a huge source of traffic.
Li Mu asked Tan Yaocheng: "If you control Yiting.com, do you want to use Yiting.com to do Baidu's MP3 search?"
Tan Yaocheng knew that he couldn't hide it from Li Mu, so he nodded frankly: "We also need some new businesses now to increase user stickiness."
Li Mu said: "Old Tan, we have a good relationship, but private matters are private matters and official matters are official matters. If Baidu has this idea, then I will make the scandal first. Even if I agree to transfer 30% of the shares to Baidu, I will not It is to let Baidu open a special entrance to Yiting.com, and not let Yiting.com in turn divert traffic to Baidu's products or make wedding dresses."
Li Mu knew what Baidu was thinking about. Baidu wanted to integrate Yiting.com into the Baidu search engine, and they would definitely focus on doing their own MP3 search. So if Yiting.com was given to them, they would not be able to figure out how to integrate it. Yiting.com does a better job and only thinks about how to direct Yiting.com users to its own MP3 search section as much as possible.
Tan Yaocheng heard Li Mu's words being so absolute, and smiled awkwardly: "Li Mu, to be honest, if Yiting.com can't divert traffic to our own products, then Yiting.com will be meaningless to us."
Li Mu said: "Why is it meaningless? At least you have 30% of the shares of Yiting.com. Even if you cannot integrate Yiting.com into Baidu Search, this is one of the assets of your Baidu company. You originally invested five million, and now 30% of Yiting.com’s shares are worth at least 50 million, and it hasn’t even been a year yet, but you have already made a lot of money.”
Tan Yaocheng said angrily: "If you hadn't kicked us out of the car midway, our original five million would be at least five hundred million now!"
Li Mu snorted and said, "Old Tan, even if you spend 10,000 yuan to open an account and trade in the stock market, you are often knocked out by the banker, let alone those millions invested in a company? You were knocked out by the banker when you were trading in the stock market. I can only blame you for your lack of determination. Can we still blame the banker for being unkind?"
Tan Yaocheng smiled bitterly and said: "You are right, we are not strong-willed. We didn't say anything more about this matter. But to be honest, Yiting.com is not very useful to you now, but it is not very useful to us." But the meaning is different. If you give Yiting.com to Baidu now, Baidu will definitely give you greater returns in terms of resources in the future."
Li Mu said: "Old Tan, who told you that Yiting.com is not important to me? To tell you the truth, I just did an analysis of the MP3 listening download market some time ago, and I also did an analysis of competing products in the same industry. , now that Internet users’ demand for digital music continues to rise, it will soon become the first category with the highest proportion of Internet users’ search behavior. How could I give Yiting.com to you under such circumstances?”
Tan Yaocheng looked at Li Mu in surprise and asked him subconsciously: "Do you still have time and energy to study the digital music market now?!"
Tan Yaocheng did not expect that Li Mu had such a clear understanding of the current development momentum of MP3. Baidu's own internal data shows that more than 25% of Baidu users' daily searches are related to MP3, and this proportion is still increasing, so MP3 It has become the category with the highest user search behavior. Users search in other areas, but all categories cannot be compared with MP3.
(End of chapter)