On May 21 this year, after Alibaba and Yahoo jointly announced the stock repurchase action, the financing plan also began.

This month, Alibaba plans to raise $4.3 billion to sell common stocks of $15.5 per share and convertible preferred stocks of $1,000 per share.

The so-called convertible preferred stock means that the holder can convert it into common stock in a specific proportion.

This thing is mysterious, but it actually means literally "convertible".

When the company you invest in is getting worse and worse, the preferred shareholder can distribute the company's remaining property before the common shareholder, and if it wants to operate better and better, you can also exchange it for more valuable common stocks.

This is extremely risky for investors, and of course, the price is not cheap either.

At the same time, this design is also accepted by joint-stock companies.

Imagine a situation where no one wants the stock you normally issued, and people even think it is hard to wipe their butt when they buy it, you can issue convertible preferred stocks and use the one with low risk and fool some money.

Of course, this thing has no meaning to Wen Xiaoguang.

Although Li Yidan had tried his best to convince Wen Xiaoguang, he didn't agree at the time and always felt something was wrong.

And what he and Tang Shujie said about having a meeting was this.

What is discussed is not a unilateral increase in holdings, but also opinions on reducing holdings.

"Ali is actually competing with us. I directly say that buying stocks when they raise funds is profitable, but while making this little money, we also helped our competitors. After May 21, Yahoo's voting rights were reduced to less than 50%, and she gave up a series of veto rights related to Alibaba Group's strategy and business decisions."

"Jack Ma is clearing all obstacles. Seeing this year's action is equivalent to his second entrepreneurship. When he starts a business, he will definitely fight with WeChat on the projects he and his business will do."

In fact, Weituo and Alibaba are still in cooperation. They exchanged WeChat traffic for about 1.2% of Alibaba Group's equity. However, the honeymoon period is less than a year, and the two companies are embarking on the road of competition in multiple fields.

The world is changing with each passing day, which is normal in the business society. As the saying goes, there are no friends forever.

Although Wen Xiaoguang sat firmly on Diaoyutai, after hearing them arguing for a while, he felt that these people couldn't argue. "I will find time to talk to Jack Ma, and wait for me to decide later."

The difficulty in making a decision is because everyone is right. Some people say they should be split directly, but is this good for Weituo? Wen Xiaoguang remembers that even if there is no WeChat at all, they will make great progress.

So Weituo gave up this investment income, and the result was the same.

But on the other hand, Weituo also bought Alibaba's stocks at this time, making a small amount of money, but it may eventually lead to a big mistake.

Dialectics doesn't work at this time because the world is extremely complex.

Of course, if you really take a step back, choose to split all cooperation with Alibaba, and inherit Tencent's path towards the opposite side of Alibaba, Weituo is not without options, at least one JD.com.

Just recently on August 14, JD.com suddenly announced that all home appliances in the mall will maintain zero gross profit in the next three years, which has opened up a crazy price war with Suning.

Liu Qiangdong is tough and tough, with Alibaba's complete ecosystem, and he still leads JD.com to get better and better. Moreover, the biggest crisis he has encountered over the years is actually just the Minnesota incident, and the business itself seems to have been living well.

Although the heavy asset model has always been suspected, capital is confident in him and has been tolerant of JD’s losses for many years. In seven years, many investors gave him more than 2 billion US dollars to burn.

Regarding this, Liu Qiangdong's response is actually correct: JD.com's burning money is to exchange RMB for logistics centers, warehousing bases, big trucks one by one, and wealth is still there, just like you exchange money for a house, while the burning money on the O2O platform is to really burn money.

The subsidy war on takeaway platforms is spent, and users cannot be bought. As long as the opponent subsidizes more, users will betray them immediately.

Wen Xiaoguang felt that before meeting Jack Ma, he would have to meet Qiang Dong at least once.

Both of these two people have tough elements in their personalities, but Wen Xiaoguang is not a soft persimmon. The labor and capitalist holds WeChat, and he is not as comfortable as you.

There is another advantage to shaking hands with JD.com. After Liu Qiangdong invested in logistics, he has not dared to take any action in other directions. He has no choice but to give up the payment field. Here, there is room for cooperation with WeChat Pay.

As I thought about it, Wen Xiaoguang didn't hesitate and just flipped through the phone book to call. Beijing was so big, the entrepreneurs' circle was very small, and the industry was close to each other, so I made an appointment as soon as I made an appointment.

The other party also wanted to see him very much.

However, when he went downstairs, he saw Starbucks opposite him, and Wen Xiaoguang thought a little bit, and blamed him for something he had forgotten. Fortunately, he didn't have the patience to listen to them quarrel for too long at this meeting.

Dr. Tang waited for less than 30 minutes.

After seeing Wen Xiaoguang, she ran out of it, but more than one person came out, and she was both assistant and secretary, which made her a little confused, "... Are you?"

Wen Xiaoguang also seized the time, "It's too late, let's go with me first and tell you on the way."

Tang Shujie took a look at Song Yiqiu who followed her. If she was beautiful, she would not be inferior, but she seemed to be a little older.

"Yiqiu, you come and drive."

Wen Xiaoguang threw the key over and asked Tang Shujie to get in the car together.

Because there are many people, it doesn’t matter if someone sees it. Anyway, he is either a man or a woman around him. He looks in a hurry and is all for work.

"Mr. Wen..." Tang Shujie felt a little embarrassed to see this attitude. Did she disturb others' itinerary?

"Wait for a moment. I'll call to handle the matter."

Wen Xiaoguang signaled her to be quiet for the time being, and the girl immediately did not dare to speak.

"Hey, Mr. Ma, it's me."

"...We want to make payments. I have also said in public that WeChat has supported several local life service providers. In their initial model, payment and collection problems could not be solved. So at that time, WeChat payment was launched in order to solve their problem, and it turned out that it was quite effective."

Mr. Ma also said bluntly, "Now everyone is busy competing for the high point of mobile Internet. In the field of instant messaging, we should pay attention to those who do not engage in socializing. I can't just press this... We have to discuss it."

Wen Xiaoguang thought to you whom you are fooling, "Don't we cooperate? Are you dissatisfied with anything?"

"There is no dissatisfaction. But we think it can be appropriately opened. You don't place advertisements on WeChat. This is amazing."

"WeChat must ensure user experience, there is nothing we can do about it. Or you have a good relationship with Brother Ma, so please tell him not to touch my mind."

Each company has its own reasons to reach this level.

All for strengthening the company.

There is no distinction between despicable and noble, and the Eight Immortals show their magical powers across the sea.

"Of course I won't interfere with WeChat's operations. This way, if it really doesn't work, I think we can acquire you in the payment field."

Wen Xiaoguang remembers that Alipay was not divested, "How to acquire it?"

"We have plans to ensure that it can be easily acquired."

Since that's the case, Wen Xiaoguang is not polite, "Then the projects about communication must be stopped."

"To be honest, this is very difficult. The decision made by the board of directors together, I can't give you a definite answer immediately."

Why don’t you go to heaven? This is what you want, and that is what you want.

Have a good rest for you.

The reason why Wen Xiaoguang just took a step back was not because of the communication. Although this guy can give them some trouble, he is not afraid. WeChat already has the advantage of first-mover attack.

He just feels that Ant Financial, with Alipay as its core, will indeed develop extremely rapidly in the future, and it is not impossible to cooperate in the payment field.

This is not the core area of ​​Weituo Management.

But the other party didn't want to give up anything and put his strong attitude towards logistics companies and the acquired companies on his head, which would not work.

"I want everything, I'll just sell the entire Weituo to you. Anyway, rumors are spreading outside."

"Really?" He was still a little excited. If there was a Microtuo entry system, Alibaba would definitely soar into the sky.

"Fake!"

~~

After hanging up the phone, Wen Xiaoguang looked at the people outside the car window, and his heart was actually on the other side.

He called Li Yidan.

"We suspend Alibaba's financing participation plan first. Although we have sufficient cash flow, there is indeed no need to feed each other. There is a giant beast that will not be satisfied."

Li Yidan couldn't help but feel a pity. She reminded again, "Mr. Wen, these 200 million US dollars can definitely be profitable, and even if we don't participate, you will not affect Alibaba."

Indeed, this is basically giving others the money they can earn.

But Wen Xiaoguang did not change his ambition, and he was not a person who obeyed him.

"I won't give him 200 million US dollars. Not only that, my attitude is also very firm. If Alibaba insists on challenging us in the core social field, WeChat will cut off all cooperation with them Taobao and Tmall. You can even go to contact us to see if someone is willing to buy 1.2 percentage points of Alibaba shares in our hands. That is the money we exchange for traffic. Let's exchange it and throw it on JD.com."

Li Yidan didn't expect that such a change would be, "To this extent?"

"A kind person cannot be a boss. Jack Ma will definitely be a good boss. He is too unkind and wants too much. He has a good temper and is easily bullied. This is how it is to be a person and a business. Don't always look at that little investment and make profits. Just a few hundred million US dollars are just missing. Are we short of that little money?"

"At this point, we need to learn from Tengxun. Ma Huateng looks gentle, but the company's behavior is very ruthless, and he will do whatever he wants."

"The initiative is always in our hands. Don't let us lose it. They are just as happy as they are. I bet with you that as long as we have a firm attitude, Alibaba will definitely make concessions and at least extend the projects in the future for half a year!"

Instant messaging is time-sensitive. The opportunity window will slowly close over time. If you drag it for another half a year, it is actually no different from pressing the 'giving' button.

Except for Tang Shujie, everyone else can understand Wen Xiaoguang's words.

Because the background of these words is that Alibaba is raising funds.

In their opinion, threatening to cut off the connection between WeChat and Taobao at this time is actually a bit "unkind to take advantage of others' danger".

If there is such a major adverse news during financing, it will affect their plans.

...

When communicating, you need to communicate in language that the other party can understand. Just talking, he will give you a sky-high price.

"Okay, Mr. Wen, I understand."

Tang Shujie watched Wen Xiaoguang make several calls in the car within twenty minutes, and then the commander Li Wenbo sent an email to Alibaba.

The wording in the email is quite intense.
To be continued...