In this three-story villa located at the foot of Xiangshan Mountain, Jing Gao only sat in the living room last time, but this time he went a step further. Follow Brother Ren's son through the large living room to a row of side rooms on the east side.
The second brother Ren was waiting in the study, wearing a white cultural T-shirt, big pants, and slippers. He was drinking tea comfortably in front of the window. When he saw his son and Jing Gao come in, he habitually said sarcastically: "Xiao Jing, you are not brave. Is it quite big? Why don’t you even dare to call me, and you still want Xiao Song to convey it? "
Jing Gao witnessed how Professor Zhao quarreled with Brother Ren that day, and said: "Mr. Ren, this has nothing to do with courage. This is a matter of etiquette. I'm calling you rashly, just in case you can't miss the time." ?”
"Then I won't see you." Brother Ren said matter-of-factly.
Jing Gao smiled, just then Ren Zhi poured tea, Jing Gao took it, "Thank you."
"You're welcome." Ren Zhi responded and sat next to him, listening to his father and Jing Gao chatting about business matters. He has graduated from college for a year and is managing a company in Shanghai that is involved in electronic manufacturing and the Internet.
Jing Gao sat down and drank some tea, and proactively asked, "Mr. Ren, I would like to hear your opinion on whether to acquire LeTV's film and television business, LeTV Cloud." Taking the initiative to ask may seem frivolous, but in fact it is reasonable.
Ren He looked victorious. You are a demo, can you compete with me on how well you cultivate your qi? He took a sip from the purple clay pot and said directly without any pretense: "You can buy it!"
Jing Gao pondered for a moment and asked for advice: "Mr. Ren, it is true that these three companies of LeTV are high-quality assets. But according to the email you asked Assistant Song to send me, there seems to be a big problem with LeTV's capital chain. Moreover, LeTV's Jia He has always been an accountant, and his finances have never been very clear. Paying 11.6 billion to buy these three companies seems a bit unworthy."
In fact, from a sound perspective, it is best not to have anything to do with LeTV. What does that mean? It's okay to buy shares of Coolpad, but don't buy LeTV's internal companies.
Because you don't know how Mr. Jia does the accounting. There's probably a hole buried there.
Ren He smiled and said slowly: "Of course the price needs to be negotiated. The asset package also needs to be adjusted. There are two points you should pay attention to in this matter.
First, what Jia Yueting plans to sell you is indeed a high-quality asset package. At present, what he can offer and what you are interested in are roughly these three companies. Second, there are some things that he didn’t tell you thoroughly.
After LeTV Pictures was fully acquired by LeTV.com. All the entertainment industry shareholders of LeTV Pictures have been converted into shareholders of LeTV.com. Therefore, there is no need to sell LeTV Pictures for more than 9 billion yuan.
The human resources in the entertainment industry are actually very weak. It was a circle where capital was king. If you have money, it is not difficult to find people to support you. Xiaozhi, your Uncle Hu is in the film and television industry, you know that, right? What do you think. "
Ren Zhi named the old man and said: "Mr. Jing, the most common saying in the entertainment industry is that capital is saturated and there are many employees, but there are few good directors and good actors. In fact, this is not accurate. The entertainment industry is now the most demanding and the most popular. The core resources are theaters, TV stations, and video websites.”
Jing Gao roughly understood. That is to say, the "big screen" and "small screen" facing the audience are the most scarce and core resources. It also includes video websites, where online dramas are broadcast. This is a typical situation of oversupply of film and television works.
Of course, there are still a lot of bad movies in Chinese film and television works.
Brother Ren said: "So, for the asset package of LeTV Pictures + Huaer Pictures, your combined price of 6 billion is a very fair price. As for cloud computing, Xiaozhi, you majored in computer science. Let me tell you." "
A wry smile appeared on Ren Zhi's lips, and he explained: "Mr. Jing, in terms of cloud computing, it is not technically difficult to roughly set up a framework. In 2006, Eric Schmidt, the CEO of Google at the time, proposed Cloud computing concept.
The core cost of cloud computing is actually electricity.
There are many cloud computing brands on the market now. The pain point of a cloud computing company is to have application scenarios. For small domestic companies, their first choice is Alibaba Cloud, Baidu Cloud, and Tencent Cloud. Therefore, many companies have cloud services and engage in big data. But they are basically only provided for internal or related enterprise use. This is the case with LeTV Cloud.
The consulting firm’s valuation of LeTV Cloud at US$1.08 billion is not too outrageous. However, after LeTV Cloud leaves the LeTV ecosystem, this value is greatly reduced.
Therefore, simply acquiring LeTV Cloud from the perspective of hardware servers and software talent teams, and then providing services to LeTV and its affiliated companies, would be too much to pay US$540 million.
With this money, you can buy your own servers and recruit talents. I personally value this acquisition at $200 million. "
Jing Gao did the math in his mind. In other words, Brother Ren believed that the reasonable price was about 7.4 billion yuan. The price quoted to him by Steve Jobs last night was completely inflated by 4.2 billion yuan. I'll go!
"Mr. Ren, what do you mean when you say the asset package needs to be adjusted?"
Brother Ren said happily: "Xiaojing, do you know why I concluded that it's OK to buy it from the beginning?"
Jing Gao smiled inwardly, Mr. Ren, this is a habit developed as a teacher, he likes to interact. After thinking for a while, he said, "I don't know."
Brother Ren said: "Your Phoenix Fund acquired Uber (China), and you paid a premium of almost US$2 billion. This made you famous. In my opinion, as long as you can win the subsidy war with Didi, This is a very good acquisition.
So, why does LeTV want to sell you its asset package? Not just because you're talking to them. reputation! I have a lot of idle funds. Why doesn’t LeTV look for me?
For the same reason, Phoenix Fund's reputation is not loud enough in China's business community. Still need to keep brushing. LeTV is a star company. Being a white horse rider will bring you huge benefits in terms of reputation.
I can assert that as long as you complete the deal with LeTV, many CEOs will regard Phoenix Fund as their first choice for large-scale mergers and acquisitions and asset sales in the Chinese corporate world. And how much trouble will this save you? "
Jing Gao suddenly felt like he was enlightened. He has been using price and value to evaluate whether LeTV's asset package should be purchased, adding at most one factor: promoting the rise of Phoenix Films. But as Brother Ren said, this deal will not only bring him "profit", it will also bring him "fame"!
This intangible asset will bring great convenience to his business path.
For example, as we all know, the Hurun Wealth List is nicknamed the Pig Killing List. Most wealthy people give money to Hurun and don't want to be on the list. However, some people also gave money to Hurun to improve its ranking. When people in the company are doing business, they directly brag about how high our boss is on the rich list and how powerful he is. You can’t believe this?
This is the classic use of "reputation" in business.
Brother Ren is really awesome. No wonder the business is so big.
Jing Gao stood up, bowed to Brother Ren and said solemnly, "Thank you, Mr. Ren."
Ren He was immediately satisfied and felt very happy, but he kept his face down and waved his hand, "Are you going to say thank you? I haven't finished saying it yet. A transaction price of less than 10 billion cannot achieve a sensational effect. You We still have to ask Jia Yuoting to add things to the asset package."
Jing Gao sat upright and maintained a listening attitude.
At this time, Ren He's wife Zhang Ting walked in and said, "Have you finished talking? Let's eat."
