Chapter 911: 911
If audio player doesn't work, press Stop then Play button again
"What? You said you wanted to sell all the Yahoo shares held by KY investment fund? Boss, is that good? At first, we promised David Ferrero and Jerry Yang many good conditions in order to obtain Yahoo's angel round investment. Later, we continued to absorb Yahoo's shares, but now we have to suddenly sell them all. It's a pity." Henry Williams stood up excitedly. Obviously, Henry resisted Yang Jing's order.
No wonder Henry would resist this order. It was not so easy to get Yahoo's angel round investment.
At the beginning, under the guidance of Yang Jing, Henry, who had just joined KY investment fund, began to establish "Alcatel" capital. This investment institution is a venture capital fund specially established by KY investment fund for the Internet market, which is a wholly-owned secondary subsidiary of KY investment fund.
However, like the parent company KY investment fund, Alcatel capital with abundant funds is unknown in the industry. Few people know that there is such a huge crocodile hidden in the financial industry. The reason for this is mainly because of Yang Jing's mandatory order.
At first, Henry and his colleagues didn't understand why the boss insisted on deep achievements and fame. No matter KY investment fund, Pacific Capital and Atlantic capital, they all call the wind and rain in the international financial community. Once their true identities are exposed, whether they are Tiger Fund, quantum fund, Goldman Sachs, Solomon brothers, Lehman Brothers, Bear Stearns Merrill Lynch, these big investment banks, must maintain a 45 degree look up to these three giants.
There is absolutely no doubt that KY investment fund, Atlantic capital and Pacific Capital are giants among giants. The so-called international hot money refers to such giants hidden under the water. This is definitely an existence that no large consortium is willing to easily provoke, and it is also an existence that any investment bank or fund needs to look up to.
The same is true of Alcatel capital. In fact, according to the level, Alcatel capital is at the same level as Pacific Capital and Atlantic capital, both of which are wholly-owned secondary subsidiaries under the name of KY investment fund.
Since its establishment, Alcatel capital has been a venture capital specifically for the IT industry. After the establishment of Alcatel capital, Yang Jing authorized Henry to summarize all the IT industry shares controlled by the Dragon Fund into the name of Alcatel capital, including Microsoft, Oracle, Cisco, Dell, IBM, ATT, Qualcomm, Intel, NVIDIA, Motorola NOKIA......
After the establishment of Alcatel capital, in addition to acquiring shares in the IT industry, it has also integrated into many famous investment institutions, such as the famous Sequoia Capital, of which nearly 40% of the shares are controlled by Alcatel capital.
At the beginning, Alcatel capital took the initiative to contact Yang Zhiyuan and David Philo, but because Alcatel capital was not famous at all, Alcatel capital wanted to make an angel round investment in Yahoo, which was rejected by Yang Zhiyuan and David Philo.
Then, in early 1995, Yang Zhiyuan and David Philo found Sequoia Capital and wanted Sequoia Capital to venture capital Yahoo. However, at that time, Mike Moritz, one of the partners of Sequoia Capital, hesitated after hearing Yang Zhiyuan's introduction to Yahoo, because Yahoo is so different. Yahoo is not the same as Netscape. Yahoo itself only "provides services on the network" and is free. So where is the profit point? Moritz couldn't see Yahoo's profit point, so he naturally hesitated.
The news that Yang Zhiyuan took the initiative to seek Angel round financing from Sequoia Capital was naturally known by Alcatel capital at the first time, so Christopher Mendes, who was in charge of Alcatel capital, that is, a successor of the younger generation that old Mike was very optimistic about, immediately found Moritz and proposed that Alcatel capital replace Sequoia Capital to make angel round investment in Yahoo. Of course, Nominally, Sequoia Capital makes an angel round investment in Yahoo.
Alcatel capital is the largest partner of Sequoia Capital. Naturally, Moritz cannot refuse this request, so Sequoia Capital finally made an angel round investment of $2 million to Yahoo!
Just an angel round made Alcatel capital spend so much energy, but now he wants to sell all the Yahoo shares he spent so much effort to get. Henry is naturally reluctant to do it.
The most important thing is that although Henry saw the bubble in the Internet market, he firmly believed that the bubble would burst, but what company was YAHOO? That's the No. 1 Internet enterprise in the Internet market! Especially in the past January, Yahoo's share price once exceeded the mark of $500 a share. At that time, Yahoo's market value was as high as $128 billion!
The $2 million Yahoo shares invested by Alcatel capital five years ago were worth more than $25 billion in January!
Although Yahoo's share price fell this month, it was still favored by all investors. It was a pity to sell Yahoo's shares at this time.
"Moreover, we now hold a lot of Yahoo shares. If we really announce the reduction of Yahoo shares, it will cause market panic." Henry is still trying to persuade Yang Jing. After all, it is too rare for such good blue chip stocks as Yahoo.
Henry's words are also very reasonable. Since the rise of the Internet market, Yahoo has always been the leader in this emerging market. In terms of popularity, those old IT enterprises can't compare with this magical Yahoo. Although the market value of old IT enterprises such as Microsoft, Cisco and Oracle is higher, in terms of market popularity, Yahoo can throw them half as far away as the Pacific Ocean.
At first, Yahoo just made a simple classification of the website, so that the website resources became orderly and convenient for users to query and use. Subsequently, Yahoo gradually expanded and established an ecosystem integrating search engine, e-mail, instant messaging, web advertising and website construction platform, covering all aspects of people's life. Yahoo has become the largest Internet portal in the world.
By 1999, Yahoo had 120 million independent users, of which 100 million users had registered in at least one channel or feature service of Yahoo. This number is simply an incredible number in modern times.
If such a leader in the Internet market rashly announces the reduction of its shares, it will definitely cause market panic.
But Yang Jing shook her head very firmly. He looked at Henry sincerely and said: "Henry, we are engaged in speculation and investment business, and the most taboo is to be decisive! I admit that Yahoo is a good stock, and we have earned enough benefits from it, but these benefits are only paper data after all. If we can't cash out Yahoo's stock, it's not a benefit. Especially now Yahoo's stock price is obviously declining, if we If you don't cash out while Yahoo's share price is still high, do you have to wait until Yahoo's share price falls below the issue price? "
"Boss, how can this be possible?" Henry will certainly not believe this. You know, although Yahoo's share price has fallen from the highest touch to $500 to more than $300, it is still the same as last December's share price. No matter how much it falls, it can't fall below the issue price!
Yang Jing shook her head slightly and didn't argue with Henry about it. Did Yang Jing tell Henry that although Yahoo's current share price is more than $300, in less than a year, Yahoo's share price will fall below the $30 mark by January next year. On the day Yahoo went public in April 1996, its closing price has reached $33!
The most important thing is that Yahoo's share price has not recovered since it began to fall in January this year. By October next year, Yahoo's share price will even fall to $8.7! Do you really have to wait until that time to sell? But if you sell again at that time, who will take over!
The most important thing is that although Yahoo is very beautiful now, the head of Yahoo is really not very good. Although he and Yang Zhiyuan are compatriots and both surnamed Yang, Yang Jing, who is familiar with the development history of Yahoo, really doesn't recognize Yang Zhiyuan's leadership level.
Yang Jing never denies that Yang Zhiyuan is a talent. After all, Yahoo was founded by him. With this, Yang Zhiyuan can afford the title of "talent". But talent does not mean that he can become a good leader!
Yahoo's success lies in many aspects. The most important thing is to occupy a "first", so Yahoo can have unlimited scenery in recent years. Even in 2006, Yahoo occupies the first position of Internet enterprises!
Among the top 20 global Internet companies in 2006, it dominated three seats, and Yahoo, Yahoo Japan and Yahoo China ranked first, seventh and 14th respectively. Google, Facebook in the United States, the groom of China, find Fox and www.com are all its followers and imitators. Yahoo's "empire" in those years , almost invincible, even equivalent to the whole Internet. No wonder some experts exaggerate: "the Internet will change the whole world one day, but without Yahoo!, I'm afraid the Internet can't even touch the door."
Now, under the leadership of Yahoo, the Internet has touched the door and is changing the world, but the pioneer Yahoo has lost its way.
In 1997, two Stanford students started a research project called "backrub" and wanted to sell it to Yahoo for $1 million. This is the prototype of Google. On Google's 1998 page, there is an exclamation mark behind the logo, which is basically imitating Yahoo!.
However, the cold Yahoo was indifferent. In 2002, Yahoo repented and began to seriously consider acquiring Google, only to find that it could not afford it. Today, the market value of Google exceeds 800 billion US dollars
And Facebook!
In 2006, Yahoo offered $1 billion to buy Facebook. Zuckerberg and Facebook investors almost agreed to the deal. At that time, when Facebook was troubled, Yahoo took advantage of the fire and cut the price to $850 million at the last minute.
Feeling humiliated, Zuckerberg tore up the agreement submitted by Yahoo in front of everyone on the board of directors. A few months later, Yahoo offered another $1 billion or more, which was rejected by Facebook. Today, the market value of Facebook exceeds $500 billion
Of course, Yahoo missed not only Facebook and Google, but also Microsoft.
On February 1, 2008, Microsoft offered a high price of US $45 billion, with a premium of 60%, and offered an olive branch to Yahoo, hoping to break Google's monopoly in the search and online advertising market through the marriage of the two, but Yahoo thought that the quotation greatly underestimated Yahoo's market value.
Three months later, Microsoft raised its offer to $50 billion, but it was still rejected by the latter. Microsoft negotiated Yahoo, all parties have been optimistic, but it didn't end in the end.
Missed the opportunity to sell at a high price. Yahoo is like a discounted commodity on the shelf, waiting helplessly for bargaining and painfully looking forward to the presence of buyers.
As a result, on July 25, 2016, American communications giant Verizon announced its acquisition of Yahoo for us $4.83 billion.
For the former Internet giant, this ending is more like a humiliation. The $4.8 billion price is less than a fraction of the $100 billion valuation at its peak.
Although it has nothing to do with Yang Zhiyuan that Yahoo was eventually acquired by Verizon at a price close to humiliation, it is actually Yang Zhiyuan's decision whether he missed Google, Facebook or Microsoft! Without those wrong decisions, who knows what Yahoo will be like? Maybe Yahoo will surpass apple and become the first in the world
However, it doesn't make any difference......
It can be seen that although Yang Zhiyuan is a talent or even a genius, he is definitely not a qualified leader, otherwise Yahoo, once the first in the world, will not fall into this situation!
Now, it is the end of Yahoo's glorious peak. If you don't sell your Yahoo shares at this time, will you really wait until Yahoo is hopeless? That's not what the Dragon Fund should do!
PS: bow and thank the "very lazy fish" for the reward of 100.
Please report us if you find any errors so we can fix it asap!
"What? You said you wanted to sell all the Yahoo shares held by KY investment fund? Boss, is that good? At first, we promised David Ferrero and Jerry Yang many good conditions in order to obtain Yahoo's angel round investment. Later, we continued to absorb Yahoo's shares, but now we have to suddenly sell them all. It's a pity." Henry Williams stood up excitedly. Obviously, Henry resisted Yang Jing's order.
No wonder Henry would resist this order. It was not so easy to get Yahoo's angel round investment.
At the beginning, under the guidance of Yang Jing, Henry, who had just joined KY investment fund, began to establish "Alcatel" capital. This investment institution is a venture capital fund specially established by KY investment fund for the Internet market, which is a wholly-owned secondary subsidiary of KY investment fund.
However, like the parent company KY investment fund, Alcatel capital with abundant funds is unknown in the industry. Few people know that there is such a huge crocodile hidden in the financial industry. The reason for this is mainly because of Yang Jing's mandatory order.
At first, Henry and his colleagues didn't understand why the boss insisted on deep achievements and fame. No matter KY investment fund, Pacific Capital and Atlantic capital, they all call the wind and rain in the international financial community. Once their true identities are exposed, whether they are Tiger Fund, quantum fund, Goldman Sachs, Solomon brothers, Lehman Brothers, Bear Stearns Merrill Lynch, these big investment banks, must maintain a 45 degree look up to these three giants.
There is absolutely no doubt that KY investment fund, Atlantic capital and Pacific Capital are giants among giants. The so-called international hot money refers to such giants hidden under the water. This is definitely an existence that no large consortium is willing to easily provoke, and it is also an existence that any investment bank or fund needs to look up to.
The same is true of Alcatel capital. In fact, according to the level, Alcatel capital is at the same level as Pacific Capital and Atlantic capital, both of which are wholly-owned secondary subsidiaries under the name of KY investment fund.
Since its establishment, Alcatel capital has been a venture capital specifically for the IT industry. After the establishment of Alcatel capital, Yang Jing authorized Henry to summarize all the IT industry shares controlled by the Dragon Fund into the name of Alcatel capital, including Microsoft, Oracle, Cisco, Dell, IBM, ATT, Qualcomm, Intel, NVIDIA, Motorola NOKIA......
After the establishment of Alcatel capital, in addition to acquiring shares in the IT industry, it has also integrated into many famous investment institutions, such as the famous Sequoia Capital, of which nearly 40% of the shares are controlled by Alcatel capital.
At the beginning, Alcatel capital took the initiative to contact Yang Zhiyuan and David Philo, but because Alcatel capital was not famous at all, Alcatel capital wanted to make an angel round investment in Yahoo, which was rejected by Yang Zhiyuan and David Philo.
Then, in early 1995, Yang Zhiyuan and David Philo found Sequoia Capital and wanted Sequoia Capital to venture capital Yahoo. However, at that time, Mike Moritz, one of the partners of Sequoia Capital, hesitated after hearing Yang Zhiyuan's introduction to Yahoo, because Yahoo is so different. Yahoo is not the same as Netscape. Yahoo itself only "provides services on the network" and is free. So where is the profit point? Moritz couldn't see Yahoo's profit point, so he naturally hesitated.
The news that Yang Zhiyuan took the initiative to seek Angel round financing from Sequoia Capital was naturally known by Alcatel capital at the first time, so Christopher Mendes, who was in charge of Alcatel capital, that is, a successor of the younger generation that old Mike was very optimistic about, immediately found Moritz and proposed that Alcatel capital replace Sequoia Capital to make angel round investment in Yahoo. Of course, Nominally, Sequoia Capital makes an angel round investment in Yahoo.
Alcatel capital is the largest partner of Sequoia Capital. Naturally, Moritz cannot refuse this request, so Sequoia Capital finally made an angel round investment of $2 million to Yahoo!
Just an angel round made Alcatel capital spend so much energy, but now he wants to sell all the Yahoo shares he spent so much effort to get. Henry is naturally reluctant to do it.
The most important thing is that although Henry saw the bubble in the Internet market, he firmly believed that the bubble would burst, but what company was YAHOO? That's the No. 1 Internet enterprise in the Internet market! Especially in the past January, Yahoo's share price once exceeded the mark of $500 a share. At that time, Yahoo's market value was as high as $128 billion!
The $2 million Yahoo shares invested by Alcatel capital five years ago were worth more than $25 billion in January!
Although Yahoo's share price fell this month, it was still favored by all investors. It was a pity to sell Yahoo's shares at this time.
"Moreover, we now hold a lot of Yahoo shares. If we really announce the reduction of Yahoo shares, it will cause market panic." Henry is still trying to persuade Yang Jing. After all, it is too rare for such good blue chip stocks as Yahoo.
Henry's words are also very reasonable. Since the rise of the Internet market, Yahoo has always been the leader in this emerging market. In terms of popularity, those old IT enterprises can't compare with this magical Yahoo. Although the market value of old IT enterprises such as Microsoft, Cisco and Oracle is higher, in terms of market popularity, Yahoo can throw them half as far away as the Pacific Ocean.
At first, Yahoo just made a simple classification of the website, so that the website resources became orderly and convenient for users to query and use. Subsequently, Yahoo gradually expanded and established an ecosystem integrating search engine, e-mail, instant messaging, web advertising and website construction platform, covering all aspects of people's life. Yahoo has become the largest Internet portal in the world.
By 1999, Yahoo had 120 million independent users, of which 100 million users had registered in at least one channel or feature service of Yahoo. This number is simply an incredible number in modern times.
If such a leader in the Internet market rashly announces the reduction of its shares, it will definitely cause market panic.
But Yang Jing shook her head very firmly. He looked at Henry sincerely and said: "Henry, we are engaged in speculation and investment business, and the most taboo is to be decisive! I admit that Yahoo is a good stock, and we have earned enough benefits from it, but these benefits are only paper data after all. If we can't cash out Yahoo's stock, it's not a benefit. Especially now Yahoo's stock price is obviously declining, if we If you don't cash out while Yahoo's share price is still high, do you have to wait until Yahoo's share price falls below the issue price? "
"Boss, how can this be possible?" Henry will certainly not believe this. You know, although Yahoo's share price has fallen from the highest touch to $500 to more than $300, it is still the same as last December's share price. No matter how much it falls, it can't fall below the issue price!
Yang Jing shook her head slightly and didn't argue with Henry about it. Did Yang Jing tell Henry that although Yahoo's current share price is more than $300, in less than a year, Yahoo's share price will fall below the $30 mark by January next year. On the day Yahoo went public in April 1996, its closing price has reached $33!
The most important thing is that Yahoo's share price has not recovered since it began to fall in January this year. By October next year, Yahoo's share price will even fall to $8.7! Do you really have to wait until that time to sell? But if you sell again at that time, who will take over!
The most important thing is that although Yahoo is very beautiful now, the head of Yahoo is really not very good. Although he and Yang Zhiyuan are compatriots and both surnamed Yang, Yang Jing, who is familiar with the development history of Yahoo, really doesn't recognize Yang Zhiyuan's leadership level.
Yang Jing never denies that Yang Zhiyuan is a talent. After all, Yahoo was founded by him. With this, Yang Zhiyuan can afford the title of "talent". But talent does not mean that he can become a good leader!
Yahoo's success lies in many aspects. The most important thing is to occupy a "first", so Yahoo can have unlimited scenery in recent years. Even in 2006, Yahoo occupies the first position of Internet enterprises!
Among the top 20 global Internet companies in 2006, it dominated three seats, and Yahoo, Yahoo Japan and Yahoo China ranked first, seventh and 14th respectively. Google, Facebook in the United States, the groom of China, find Fox and www.com are all its followers and imitators. Yahoo's "empire" in those years , almost invincible, even equivalent to the whole Internet. No wonder some experts exaggerate: "the Internet will change the whole world one day, but without Yahoo!, I'm afraid the Internet can't even touch the door."
Now, under the leadership of Yahoo, the Internet has touched the door and is changing the world, but the pioneer Yahoo has lost its way.
In 1997, two Stanford students started a research project called "backrub" and wanted to sell it to Yahoo for $1 million. This is the prototype of Google. On Google's 1998 page, there is an exclamation mark behind the logo, which is basically imitating Yahoo!.
However, the cold Yahoo was indifferent. In 2002, Yahoo repented and began to seriously consider acquiring Google, only to find that it could not afford it. Today, the market value of Google exceeds 800 billion US dollars
And Facebook!
In 2006, Yahoo offered $1 billion to buy Facebook. Zuckerberg and Facebook investors almost agreed to the deal. At that time, when Facebook was troubled, Yahoo took advantage of the fire and cut the price to $850 million at the last minute.
Feeling humiliated, Zuckerberg tore up the agreement submitted by Yahoo in front of everyone on the board of directors. A few months later, Yahoo offered another $1 billion or more, which was rejected by Facebook. Today, the market value of Facebook exceeds $500 billion
Of course, Yahoo missed not only Facebook and Google, but also Microsoft.
On February 1, 2008, Microsoft offered a high price of US $45 billion, with a premium of 60%, and offered an olive branch to Yahoo, hoping to break Google's monopoly in the search and online advertising market through the marriage of the two, but Yahoo thought that the quotation greatly underestimated Yahoo's market value.
Three months later, Microsoft raised its offer to $50 billion, but it was still rejected by the latter. Microsoft negotiated Yahoo, all parties have been optimistic, but it didn't end in the end.
Missed the opportunity to sell at a high price. Yahoo is like a discounted commodity on the shelf, waiting helplessly for bargaining and painfully looking forward to the presence of buyers.
As a result, on July 25, 2016, American communications giant Verizon announced its acquisition of Yahoo for us $4.83 billion.
For the former Internet giant, this ending is more like a humiliation. The $4.8 billion price is less than a fraction of the $100 billion valuation at its peak.
Although it has nothing to do with Yang Zhiyuan that Yahoo was eventually acquired by Verizon at a price close to humiliation, it is actually Yang Zhiyuan's decision whether he missed Google, Facebook or Microsoft! Without those wrong decisions, who knows what Yahoo will be like? Maybe Yahoo will surpass apple and become the first in the world
However, it doesn't make any difference......
It can be seen that although Yang Zhiyuan is a talent or even a genius, he is definitely not a qualified leader, otherwise Yahoo, once the first in the world, will not fall into this situation!
Now, it is the end of Yahoo's glorious peak. If you don't sell your Yahoo shares at this time, will you really wait until Yahoo is hopeless? That's not what the Dragon Fund should do!
PS: bow and thank the "very lazy fish" for the reward of 100.
"What? You said you wanted to sell all the Yahoo shares held by KY investment fund? Boss, is that good? At first, we promised David Ferrero and Jerry Yang many good conditions in order to obtain Yahoo's angel round investment. Later, we continued to absorb Yahoo's shares, but now we have to suddenly sell them all. It's a pity." Henry Williams stood up excitedly. Obviously, Henry resisted Yang Jing's order.No wonder Henry would resist this order. It was not so easy to get Yahoo's angel round investment.At the beginning, under the guidance of Yang Jing, Henry, who had just joined KY investment fund, began to establish "Alcatel" capital. This investment institution is a venture capital fund specially established by KY investment fund for the Internet market, which is a wholly-owned secondary subsidiary of KY investment fund.However, like the parent company KY investment fund, Alcatel capital with abundant funds is unknown in the industry. Few people know that there is such a huge crocodile hidden in the financial industry. The reason for this is mainly because of Yang Jing's mandatory order.At first, Henry and his colleagues didn't understand why the boss insisted on deep achievements and fame. No matter KY investment fund, Pacific Capital and Atlantic capital, they all call the wind and rain in the international financial community. Once their true identities are exposed, whether they are Tiger Fund, quantum fund, Goldman Sachs, Solomon brothers, Lehman Brothers, Bear Stearns Merrill Lynch, these big investment banks, must maintain a 45 degree look up to these three giants.There is absolutely no doubt that KY investment fund, Atlantic capital and Pacific Capital are giants among giants. The so-called international hot money refers to such giants hidden under the water. This is definitely an existence that no large consortium is willing to easily provoke, and it is also an existence that any investment bank or fund needs to look up to.The same is true of Alcatel capital. In fact, according to the level, Alcatel capital is at the same level as Pacific Capital and Atlantic capital, both of which are wholly-owned secondary subsidiaries under the name of KY investment fund.Since its establishment, Alcatel capital has been a venture capital specifically for the IT industry. After the establishment of Alcatel capital, Yang Jing authorized Henry to summarize all the IT industry shares controlled by the Dragon Fund into the name of Alcatel capital, including Microsoft, Oracle, Cisco, Dell, IBM, ATT, Qualcomm, Intel, NVIDIA, Motorola NOKIA......After the establishment of Alcatel capital, in addition to acquiring shares in the IT industry, it has also integrated into many famous investment institutions, such as the famous Sequoia Capital, of which nearly 40% of the shares are controlled by Alcatel capital.At the beginning, Alcatel capital took the initiative to contact Yang Zhiyuan and David Philo, but because Alcatel capital was not famous at all, Alcatel capital wanted to make an angel round investment in Yahoo, which was rejected by Yang Zhiyuan and David Philo.Then, in early 1995, Yang Zhiyuan and David Philo found Sequoia Capital and wanted Sequoia Capital to venture capital Yahoo. However, at that time, Mike Moritz, one of the partners of Sequoia Capital, hesitated after hearing Yang Zhiyuan's introduction to Yahoo, because Yahoo is so different. Yahoo is not the same as Netscape. Yahoo itself only "provides services on the network" and is free. So where is the profit point? Moritz couldn't see Yahoo's profit point, so he naturally hesitated.The news that Yang Zhiyuan took the initiative to seek Angel round financing from Sequoia Capital was naturally known by Alcatel capital at the first time, so Christopher Mendes, who was in charge of Alcatel capital, that is, a successor of the younger generation that old Mike was very optimistic about, immediately found Moritz and proposed that Alcatel capital replace Sequoia Capital to make angel round investment in Yahoo. Of course, Nominally, Sequoia Capital makes an angel round investment in Yahoo.Alcatel capital is the largest partner of Sequoia Capital. Naturally, Moritz cannot refuse this request, so Sequoia Capital finally made an angel round investment of $2 million to Yahoo!Just an angel round made Alcatel capital spend so much energy, but now he wants to sell all the Yahoo shares he spent so much effort to get. Henry is naturally reluctant to do it.The most important thing is that although Henry saw the bubble in the Internet market, he firmly believed that the bubble would burst, but what company was YAHOO? That's the No. 1 Internet enterprise in the Internet market! Especially in the past January, Yahoo's share price once exceeded the mark of $500 a share. At that time, Yahoo's market value was as high as $128 billion!The $2 million Yahoo shares invested by Alcatel capital five years ago were worth more than $25 billion in January!Although Yahoo's share price fell this month, it was still favored by all investors. It was a pity to sell Yahoo's shares at this time."Moreover, we now hold a lot of Yahoo shares. If we really announce the reduction of Yahoo shares, it will cause market panic." Henry is still trying to persuade Yang Jing. After all, it is too rare for such good blue chip stocks as Yahoo.Henry's words are also very reasonable. Since the rise of the Internet market, Yahoo has always been the leader in this emerging market. In terms of popularity, those old IT enterprises can't compare with this magical Yahoo. Although the market value of old IT enterprises such as Microsoft, Cisco and Oracle is higher, in terms of market popularity, Yahoo can throw them half as far away as the Pacific Ocean.At first, Yahoo just made a simple classification of the website, so that the website resources became orderly and convenient for users to query and use. Subsequently, Yahoo gradually expanded and established an ecosystem integrating search engine, e-mail, instant messaging, web advertising and website construction platform, covering all aspects of people's life. Yahoo has become the largest Internet portal in the world.By 1999, Yahoo had 120 million independent users, of which 100 million users had registered in at least one channel or feature service of Yahoo. This number is simply an incredible number in modern times.If such a leader in the Internet market rashly announces the reduction of its shares, it will definitely cause market panic.But Yang Jing shook her head very firmly. He looked at Henry sincerely and said: "Henry, we are engaged in speculation and investment business, and the most taboo is to be decisive! I admit that Yahoo is a good stock, and we have earned enough benefits from it, but these benefits are only paper data after all. If we can't cash out Yahoo's stock, it's not a benefit. Especially now Yahoo's stock price is obviously declining, if we If you don't cash out while Yahoo's share price is still high, do you have to wait until Yahoo's share price falls below the issue price? ""Boss, how can this be possible?" Henry will certainly not believe this. You know, although Yahoo's share price has fallen from the highest touch to $500 to more than $300, it is still the same as last December's share price. No matter how much it falls, it can't fall below the issue price!Yang Jing shook her head slightly and didn't argue with Henry about it. Did Yang Jing tell Henry that although Yahoo's current share price is more than $300, in less than a year, Yahoo's share price will fall below the $30 mark by January next year. On the day Yahoo went public in April 1996, its closing price has reached $33!The most important thing is that Yahoo's share price has not recovered since it began to fall in January this year. By October next year, Yahoo's share price will even fall to $8.7! Do you really have to wait until that time to sell? But if you sell again at that time, who will take over!The most important thing is that although Yahoo is very beautiful now, the head of Yahoo is really not very good. Although he and Yang Zhiyuan are compatriots and both surnamed Yang, Yang Jing, who is familiar with the development history of Yahoo, really doesn't recognize Yang Zhiyuan's leadership level.Yang Jing never denies that Yang Zhiyuan is a talent. After all, Yahoo was founded by him. With this, Yang Zhiyuan can afford the title of "talent". But talent does not mean that he can become a good leader!Yahoo's success lies in many aspects. The most important thing is to occupy a "first", so Yahoo can have unlimited scenery in recent years. Even in 2006, Yahoo occupies the first position of Internet enterprises!Among the top 20 global Internet companies in 2006, it dominated three seats, and Yahoo, Yahoo Japan and Yahoo China ranked first, seventh and 14th respectively. Google, Facebook in the United States, the groom of China, find Fox and www.com are all its followers and imitators. Yahoo's "empire" in those years , almost invincible, even equivalent to the whole Internet. No wonder some experts exaggerate: "the Internet will change the whole world one day, but without Yahoo!, I'm afraid the Internet can't even touch the door."Now, under the leadership of Yahoo, the Internet has touched the door and is changing the world, but the pioneer Yahoo has lost its way.In 1997, two Stanford students started a research project called "backrub" and wanted to sell it to Yahoo for $1 million. This is the prototype of Google. On Google's 1998 page, there is an exclamation mark behind the logo, which is basically imitating Yahoo!.However, the cold Yahoo was indifferent. In 2002, Yahoo repented and began to seriously consider acquiring Google, only to find that it could not afford it. Today, the market value of Google exceeds 800 billion US dollarsAnd Facebook!In 2006, Yahoo offered $1 billion to buy Facebook. Zuckerberg and Facebook investors almost agreed to the deal. At that time, when Facebook was troubled, Yahoo took advantage of the fire and cut the price to $850 million at the last minute.Feeling humiliated, Zuckerberg tore up the agreement submitted by Yahoo in front of everyone on the board of directors. A few months later, Yahoo offered another $1 billion or more, which was rejected by Facebook. Today, the market value of Facebook exceeds $500 billionOf course, Yahoo missed not only Facebook and Google, but also Microsoft.On February 1, 2008, Microsoft offered a high price of US $45 billion, with a premium of 60%, and offered an olive branch to Yahoo, hoping to break Google's monopoly in the search and online advertising market through the marriage of the two, but Yahoo thought that the quotation greatly underestimated Yahoo's market value.Three months later, Microsoft raised its offer to $50 billion, but it was still rejected by the latter. Microsoft negotiated Yahoo, all parties have been optimistic, but it didn't end in the end.Missed the opportunity to sell at a high price. Yahoo is like a discounted commodity on the shelf, waiting helplessly for bargaining and painfully looking forward to the presence of buyers.As a result, on July 25, 2016, American communications giant Verizon announced its acquisition of Yahoo for us $4.83 billion.For the former Internet giant, this ending is more like a humiliation. The $4.8 billion price is less than a fraction of the $100 billion valuation at its peak.Although it has nothing to do with Yang Zhiyuan that Yahoo was eventually acquired by Verizon at a price close to humiliation, it is actually Yang Zhiyuan's decision whether he missed Google, Facebook or Microsoft! Without those wrong decisions, who knows what Yahoo will be like? Maybe Yahoo will surpass apple and become the first in the worldHowever, it doesn't make any difference......It can be seen that although Yang Zhiyuan is a talent or even a genius, he is definitely not a qualified leader, otherwise Yahoo, once the first in the world, will not fall into this situation!Now, it is the end of Yahoo's glorious peak. If you don't sell your Yahoo shares at this time, will you really wait until Yahoo is hopeless? That's not what the Dragon Fund should do!PS: bow and thank the "very lazy fish" for the reward of 100.
