Chapter 1915: The valuation is too low!

The latest chapter of the strongest rebirth in life
After talking about the office, Yin Jun and Bill Gates both smiled.
Everyone feels that they have taken advantage, but only Yin Jun knows that he is the one with the most advantage.
10% of Microsoft shares, but it will be worth 80 billion US dollars, this wealth, it is impossible to let go of it.
Afterwards, the two also discussed the office development team, and finally decided to take this out and set up a department independently, or the team should be responsible for them. Microsoft only provided them with funds and other guarantees.
In terms of treatment, Kirin Software's treatment is even higher than that of Microsoft. Now that it has turned to Microsoft, it must not be reduced.
So Bill Gates listed them as a separate operation, and this treatment can be different from that of Microsoft headquarters.
Speaking of these companies in Silicon Valley, Microsoft is really not a very generous company, and hardly ranks among the top ten companies in the United States.
Compared with Gu Ge and MOU, corporate culture doesn't know where the difference is.
This is the same as Apple.
More than 100 global vice presidents in the hands of Joe Gang resigned more than 10 each year, all of whom resigned because he could not bear the pressure.
Apple ’s own employee benefits are also not improved because Joe ’s boss only receives $ 1 a year.
You said that the president has only received $ 1. Are you sorry for the more?
But this is fart.
After Joe helped sell Pixar to Disney himself, he owned more than 4 billion US dollars worth of Disney stocks and could not run out of dividends every year. Of course, he didn't need to get much money from Apple.
Moreover, Apple also needs to give him a certain share of stock every year based on his achievements. With these, he can also become Apple's largest individual shareholder in the future.
Besides, Joe ’s host only receives a salary of $ 1 per year, but all his travel expenses and various work expenses are based on the best. The charter flights are all daily.
Such a comfortable day is really similar to those of our government employees in China, and the grade is even higher.
So it can also be seen from this point that Joe Gang, like Bill Gates, is indifferent and selfish in his bones, especially for the lower-level employees.
Kolotti was also a little uplifted at this time.
Because after talking about office matters, it was his turn to act.
As the plenipotentiary of Goldman Sachs, he and Bill Gates have had dozens of calls and exchanges and several face-to-face meetings.
There is only one purpose to make Goldman Sachs a listed underwriter of Microsoft ipo.
Can be talked about many times, but still failed.
Now that Yin Jun is present, it is naturally better to talk about it.
At Microsoft, as long as the two of them are settled, the listing underwriting will be completed.
"Mr. Gates, let's talk about Microsoft going public now!" Koloti was a bit impatient.
"it is good."
Coincidentally, Yin Jun was there, Bill Gates thought it was a good opportunity for discussion and learning.
Don't look at the dozens of companies under Yin Jun, which have never been listed, but Bill Gates knows that the name of Yin Jun's genius is definitely not to be ridiculous.
Let Yin Jun come up with a little idea, which will have greater benefits and benefits for Microsoft's listing.
"I have already told you before, we have detailed charts of Microsoft's current development status and annual sales status, and you have already seen it." Koloti said, "We think the valuation of $ 1.5 billion, And taking out 30% of the shares to be listed on ipo is a very suitable ratio. In the future, it will have further development and great benefits for Microsoft to obtain funds in the market. "
"In terms of taking out shares, you can really ask Jun." Bill Gates raised his hand first. "Before we discussed 20% of the shares, he took them out. If he is willing to take out 10% again, , I also agree. "
Little Fox!
Kolotti muttered secretly in his heart, but could only helplessly look at Yin Jun.
Bill Gates and Paul Allen are of course pleased. According to the previous regulations, only Yin Jun ’s shares were diluted, and their shares could wait until the listing and then skyrocket.
Yin Jun has a total of 50% of Microsoft's shares. If you take out 30%, Yin Jun's shares will only be 20%. Like Paul Allen, it is less than 30% of Bill Gates.
On the surface, this gives Yin Jun an arbitrage opportunity to leave, but everyone knows that Microsoft has a great future, and the more it comes out at this time, the more it will lose.
"30% of the shares is impossible." Yin Jun said straightforwardly, "According to the rapid development of Microsoft today, in fact, I think that 15% is enough, and the remaining 5%, we give the company a All senior executives, as well as every employee, must take 1,000 or 10,000 shares symbolically, so that they can share the joy of the company's growth. "
"Well, it's a good idea to give them 5% of the shares." Bill Gates immediately expressed support for the proposal.
That's how they did it in the previous life.
After Microsoft went public, Bill Gates had 45% of the shares, Paul Allen had 25% of the shares, and then 5% were given to the company's executives, and 25% took out ipo to raise funds.
"It's your discretion to distribute the amount to the employees." Kolotti was a little bit crying and laughing, "but the 15% share of ipo is listed, it is too few, and it is not enough!"
"Why not enough points?" Yin Jun said neatly, "We plan to issue 100 million shares, 15 million shares will be listed on ipo, you Qualcomm eat 5 million shares, and the remaining 10 million shares are handed over to the stock market Investors, they can consume it, and it ’s already pretty good. "
"100 million shares?" Colauti surprised. "That's only 15 dollars per share? Is this price lower?"
The listing of technology stocks in the United States has seen some moisture in recent years.
For advanced technology stocks like Microsoft, stocks with great potential for future development, Goldman Sachs expects a listing price of about 20 yuan, of course, there are no 100 million shares.
"This is the second point I want to say." Yin Jun said, "Now I calculate it according to the ipo of 1.5 billion US dollars, which is actually not so appropriate."
"1.5 billion is not low anymore! This is the highest ipo valuation since the company's listing history!" Koloti quickly said, "For this 1.5 billion US dollars, we at Goldman Sachs are under enormous pressure and need to pay a lot Hardship to maintain the stock price, do n’t let it fall.

Listed underwriters have to take part of the original shares of listed companies, the reason is that Koloti said.
They are not only responsible for listing these companies, but also maintaining the company's stock price, and don't let it break as soon as it comes up. That is shameful.
In the next year or so, because the shares of the listed underwriters cannot be sold, their maintenance will always exist and will not be abandoned halfway.
This is a guarantee for shareholders of listed companies.
Otherwise, who is willing to give them so many shares in ipo's valuation in vain?
I got it on the stock market, and on the first day it must have skyrocketed by more than 50%, or even more.
After taking my stock, you should naturally shield me from the wind and rain. This is a normal exchange of interests.
But the target of this interest exchange should also be found.
Do n’t find those bragging ups, and you will have nothing to catch when you encounter something. Watching others smash this company ’s stock but there is no way to stop it. This is so maddening.
Therefore, these well-known large companies have always been listed, they have to find giants in this regard.
Goldman Sachs is one.
Merrill Lynch is also one.
Bear Stearns and Lehman Brothers are also one.
Citi also counts.
Damo and Momo are also fine.
Other than that, the rest are less reliable.
This is not to say that super giants such as Royal Bank of Scotland, Royal Dutch Bank, and Swiss Bank are not strong enough, but that they are really not as good as locals in the United States.
Conversely speaking, these big investment banks and banks also have to choose their cooperation partners, and not all cats and dogs can find them for underwriting.
Obviously they are bad stocks that cannot be lifted, and they are not willing to touch them.
After all, it's not that poor.
So for some small companies that are not qualified but want to go public, finding investment banks and banks is not so reliable.
For both of them, it is a kind of gambling, or a huge speculation.
The stock market is at risk, and it is always the stocks of companies in this category.
Colauti's words were quite satisfactory, but Yin Jun would not believe it all.
Even if Yin Jun and Krautti are good friends, he knows deeply what kind of monster Goldman Sachs is.
In Goldman Sachs's business field, there will be no warmth. If you all believe in Krautti, the Kirin Group will become a delicious meal for financial tycoons.
"Now 1.5 billion, just at the current stage, does it join the office we just talked about?" Yin Jun didn't say much and asked Kolauti directly.
Krauti was speechless.
Just now he was also frantic to discuss the value of office, but unexpectedly turned to the valuation negotiation side.
"According to what we said before, the office will reach the sales target of 5 billion US dollars at the end of December next year ... such a gross profit directly reaches 2.5 billion US dollars!" Yin Jundao ~ EbookFREE.me ~ If investors let them know With such a big advantage, why do n’t they hold high Microsoft stocks? In this case, do you think US $ 1.5 billion is still appropriate? "
"That's just an uncertain future." Kolotti quickly quibbled. "Besides, it will be listed in May and June next year. I can't see it at this time!"
"You don't believe I can do it?" Yin Jun said leisurely.
"It's not ..."
"Then you should take this into account." Yin Jun said rightly, "Only the most reasonable valuation can make Microsoft go public, otherwise this is a waste of the hard work of hundreds of people! We don't ask for anything Once rich, but if we underestimate our wisdom and labor achievements, it is absolutely not allowed! "
"Correct!"
Bill Gates responded with a smile.
Just now Yin Jun and Koloti came to run him together, but now he and Yin Jun are running against Koloti.
This change of identity is really cool!