Chapter 189
Previously, Yi Feng had met with the founder of Tencent, Ma Huateng, and the technical director, Zhang Zhibei, at the White Swan Hotel in Guangxi. The two sides had initial negotiations about Yi Feng investing in Tencent.
At that time, Yi Feng proposed an investment plan: he would invest 1 million yuan in Tencent for a 10% stake and participate in the operations of Tencent. They also discussed a bet agreement.
In the bet agreement, if Yi Feng joined Tencent and achieved an annual revenue of more than 10 million yuan within a year, he could increase his stake to 51%. If the revenue target was not met, Yi Feng would have to invest an additional 5 million yuan without increasing his stake.
At the time, Ma Huateng and Zhang Zhibei were somewhat interested, but the proposal for changing the shareholding needed the agreement of other shareholders, including third-party investor shareholders, IDG Capital, China Telecom, and other co-founders.
Now that Ma Huateng was calling, there must have been progress!
Yi Feng’s lips curved into a confident smile, as this year was Tencent’s most challenging year. It seemed they were getting desperate.
After the phone rang three times, Yi Feng calmly answered the call.
“Hello, President Ma.”
“Ha ha, Yi, I have some good news for you today,” Ma Huateng’s hearty laughter came from the other end of the phone.
“Oh? What good news?” Yi Feng feigned ignorance.
“After rounds of discussions with other shareholders, including Zhibei and I, everyone has unanimously agreed to discuss your investment and shareholding. Everyone feels it’s time to introduce new investors and capital,” Ma Huateng said.
“That’s good news,” Yi Feng smiled.
“However, there are some details we need to discuss in a meeting, including the bet agreement. Do you have time to come to Shenzhen in the next two days? Set a time, and I will inform the other shareholders,” Ma Huateng asked.
After pondering for a moment, Yi Feng replied, “I’m only free on the weekends. Tomorrow is Saturday, I can be in Shenzhen by 9 AM. My schedule is quite tight; does this time work for you, President Ma?”
“Haha, that works. I also want to settle this matter for the company as soon as possible. Let’s meet at 9 AM tomorrow then. I’ll inform the other shareholders and book a meeting room. I’ll send you the location by text later,” Ma Huateng laughed.
“Alright, I’ll wait for your message,” Yi Feng smiled.
After discussing the main issue, they chatted casually for a few minutes before hanging up.
Yi Feng toyed with his phone, contemplating how to negotiate this investment and shareholding deal.
He aimed to fully control Tencent, ultimately obtaining 100% of the shares. However, he knew this couldn’t be rushed. The first step was to become a shareholder and gain some operational control. The second step was to fulfill the bet agreement to completely take over Tencent’s personnel and operations department. The third step was to plan to acquire shares from the original shareholders.
Yi Feng was ambitious about Tencent. The company would become a behemoth in the future, spanning from Tencent to investments in the entertainment industry, potentially forming a super business empire.
Now was the best time to join Tencent. Once they solved their financial issues and found a profitable model, there would be no role for him.
He had to seize this only great opportunity!
Yi Feng thought rapidly, then picked up his phone to call Wang Tie.
After a while, the call connected.
“Hey, Tie, are you free in the next two days?”
“Brother Feng, it’s the weekend, and I planned to go back to the company to deal with supplier issues. Brother Feng, is there something you need?”
“Let those issues be for now; I’ll have Ping’an assist you. You’re coming with me to Shenzhen for a couple of days.”
“Ah? To Shenzhen? Brother Feng, what are we doing in Shenzhen?”
“Heh, President Ma of Tencent just called me. Our investment is making progress. We have a meeting in Shenzhen tomorrow morning. I need you to organize a brief on our company’s situation into a document and send it to me. Also, it’s a chance for you to broaden your horizons and lend a hand.”
“Wow, that’s great! No problem, Brother Feng!”
Wang Tie had heard about Yi Feng’s plan to invest in Tencent. He liked the QQ software operated by Tencent, despite its occasional crashes and disconnections.
“Alright, see you tomorrow!”
…
Meanwhile, in the president’s office at Tencent.
Ma Huateng looked at the four co-founders and tapped on the table, “You all know the situation. Tomorrow at 9 AM, Yi Feng will be here in Shenzhen for the investment meeting. If you have anything to say, speak now.”
“Tencent was founded by the five of us. I respect your opinions and thoughts.”
Zhang Zhibei sat up straight on the sofa and said firmly, “I agree with letting Yi Feng invest. Though 1 million isn’t much, they have technology and are about to operate the 361 PC Safety Manager software. If we join forces, we might find new revenue paths. The most important thing is the bet agreement. If he can’t achieve the ten million revenue, he will invest another 5 million, which can greatly solve our financial crisis and give us more time to explore profit models.” f𝐫e𝚎𝘄eb𝚗o𝐯𝐞𝐥.𝐜𝚘m
“If he fulfills the bet agreement, our company will have the capability to generate revenue, and we can quickly rise by expanding our user base. Overall, it’s beneficial for the company.”
“Tencent is our hard work. The company is facing operational difficulties now, and we can’t even expand our servers. I don’t want to see the company go bankrupt or be sold.”
The office fell silent, the other three remaining quiet.
Ma Huateng didn’t speak further, understanding that while the proposal benefited the company, it wasn’t necessarily beneficial for the founding shareholders.
Sometimes, company interests and personal interests aren’t aligned.
Yi Feng’s entry would inevitably dilute everyone’s shares, affecting all shareholders’ interests.
“Why are you all silent? Why am I the only one talking?” Zhang Zhibei showed a hint of dissatisfaction.
Ma Huateng then said, “I think Zhibei is right. It’s a critical moment for the company. We need to set aside personal interests for the greater good.”
“Cheng Dan, Old Xu, I know you’ve worked hard for so long and are reluctant to let others meddle in company affairs. However, Yi Feng is the only investor willing to invest directly.”
“If we wait for our revenue like other capital firms, we can’t overcome this hurdle.”
“State your opinions.”
Cheng Dan, a young man wearing glasses with a lean face and under 30, the same age as Ma Huateng, responsible for administration and HR at Tencent, said, “I agree with Zhibei and President Ma. However, I want to express a concern. I don’t want Yi Feng to be involved in company operations. As an outsider, unfamiliar with the company, his actions might negatively impact us. There’s a risk.”
Old Xu, Xu Ye, with a neat and tidy hairstyle, responsible for customer relations and external affairs, said, “Cheng Dan’s concerns are valid. Introducing a new investor is necessary and needed. However, I oppose Yi Feng’s direct involvement in company affairs.”
With both expressing their opinions, Ma Huateng remained expressionless, understanding their reluctance to dilute their shares and lose control.
Ma Huateng looked at the last partner, “Old Zeng, as our COO, what do you think?”
Zeng Jing, the main person in charge of QQ’s marketing and operations, with the greatest responsibility and power, said, “Zhibei makes sense. We need a new method, a new path, to quickly improve our revenue, a constant issue for us. Maybe Yi Feng will bring a different approach. However, I agree with Cheng Dan and others. We shouldn’t hastily involve him. At least he needs to familiarize himself with our business and technical situations before we evaluate his solutions.”
“Sigh, as the person responsible for operations for nearly two years, I’ve tried several profit models, none ideal. I feel guilty.”
After speaking, Zeng Jing sighed deeply, looking helpless.
Ma Huateng waved his hand, “This isn’t a blame meeting. Let’s not discuss this now. At least we’ve reached some consensus on introducing Yi Feng’s investment, which everyone agrees on. But the investment terms, including participation in company affairs and fulfilling the bet agreement, are unavoidable.”
“Old Zeng is right. We can give Yi Feng the space to participate in operations but also need to prevent new risks. I’ll personally oversee this and take full responsibility.”
“As for his initial 10% share quota, we’ve discussed it before. IDG and Telecom will each give up 1%, you guys give up 1%, and the remaining 4% will be diluted from my shares.”
“If he fulfills the ten million revenue bet agreement, we’ll hold a shareholder meeting to discuss it further.”
After Ma Huateng declared his full responsibility, everyone showed surprise, seeing his determination to make this happen.
Cheng Dan pondered for a moment and nodded, “Let’s do as President Ma suggests.”
Although everyone present was a founder and partner, Ma Huateng had the decisive authority in the team.
Others nodded in agreement.
Ma Huateng finally smiled, “Good, let’s prepare. Tomorrow at 9 AM, let’s meet Yi Feng!”
———-
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