Anyone who is a little familiar with the history of the Internet knows that Google finally launched a "Dutch auction" and made all the old Wall Street celebrities.

This is a terrifying choice that will instantly turn Google into a public enemy of Wall Street.

As a designated underwriter of Google, Credit Suisse employees who participated in the listing operation can purchase stocks at a low price through "green shoe options" - a discount of US$40 over the market price, and a limited purchase of 100 shares per person within the specified time.

Let's make it clearer. If I am an employee of Credit Suisse and are involved in Google's listing operation, then I only need to invest $4,500 and buy 100 shares at $45. The money can turn into $10,000 on the opening day, and it can turn into $20,000 in three months.

However, no one bought it.

Because these insiders were scared

Now, the rumors are flying everywhere, Wall Street openly and secretly stated that Google will fail.

Can a company in Google fight against the entire Wall Street? Obviously not. So the relevant practitioners unanimously criticized Google and did not believe that Google's stock price would rise sharply, thus losing great investment opportunities.

However, at this moment, when Song Weiyang flew to the United States at the beginning of the year, Google did not have a crazy plan to "auction and list".

Just last month, Google suddenly terminated negotiations with Microsoft, saying that we do not intend to sell ourselves to Microsoft. Then it announced the employment of two banks, Morgan Stanley and Goldman Sachs, as underwriters listed on Google IPO, with an estimated fundraising of US$4 billion, and investment institutions estimated that US$12 billion of Google stocks will be marketed.

Before IPO went public, the company's founders, shareholders and underwriters would negotiate for months. Everyone sat together to discuss how much should the public offering, which ones should be sold to internal employees, which ones should be sold to major shareholders, and how to sign the underwriters' option contract. Anyway, the whole process took a long time and was very cumbersome.

Song Weiyang came to the United States for a meeting this time and did not even talk about the above key contents, and was directly suppressed by the five shareholders.

All shareholders want to take advantage of the opportunity of IPO to increase their holdings, but they do not allow Taurus Capital to participate in it. The reason is for Google's long-term development... In fact, it is nonsense. Given Google's current situation, it is not qualified to let the US government focus on it, and it will not care about the shareholding ratio of Chinese shareholders.

It is obvious that they are joining forces to bully Song Weiyang, a Chinese!

Sequoia Capital even wants to acquire the founder's stock in Song Weiyang's hands, which is the kind of stock that is 10 shares of voting rights, because the two founders must implement the A-share model if they bite to death.

Song Weiyang kept smiling throughout the whole process and said happily that it was OK. Now we will sign an option contract. According to relevant American laws, I will sell you as much as I have after Google is listed for half a year. No matter the market price, I will sell you as much as I have. No matter the market price, I will sell you as much as I have after it is listed for one year. No matter the market price, I will sell you as much as I have.

The negotiators of Sequoia Capital stopped talking for a moment. Who knows how much Google's stock will rise in a year? Google's current valuation is only more than $2 billion. Even if it is about to go public on the iPo market, the price of $300 per share is purely crazy about money.

It’s not four years ago now, the Internet bubble has been squeezed out long ago!

The negotiations were broken, and Song Weiyang was too lazy to waste time and directly allowed negotiators to attend the meeting in the next few months.

To welcome Song Weiyang, Larry Page and Sergey Brin specially chose a Chinese restaurant for dinner. After ordering, Larry smiled and asked, "Song, are you particularly angry now?"

"How could it be? I treat all those guys as clowns. Are you angry about the clowns' performance on stage?" Song Weiyang said with a smile, "I just feel funny."

Sergei said, "Sequoia Capital not only wants to buy the stocks you have, but also the stocks we have. If we don't sell, they don't agree with the ab-share model, and these capitalists want to gain control of Google."

In the United States, there have been companies listed on the A-share model for a long time, but they have disappeared for many years. Larry and Sergey are challenging the authority of capitalists.

Song Weiyang shrugged, "I am also a capitalist. If they can afford to pay, I will be happy to sell the shares to them, but unfortunately they are all too stingy."

Sergei laughed and said, "That's because your bid is so outrageous. If Google's stock price can reach $300 after half a year of listing, do you know what this means? It means that the entire Nasdaq will be heated by Google!"

Larry said with concern, "Last year, the Nasdaq index rose too fast, and continued to fall after New Year's Day this year, and the entire online stock market was in a turmoil. Goldman Sachs and Morgan Stanley were not confident in Google. The green shoe option they gave was priced at only $80. I am planning to change the underwriter now."

Sergei said, "This is the usual model of Wall Street. Investment banks, as underwriters, joined forces with the original shareholders to seriously underestimate the value of the upcoming listed companies and even deliberately release negative information to lower the company's issue price. The original shareholders took advantage of the large increase in iPo's holdings, and the insurers also bought at low prices. They could make more than 50 profits on the first day of opening, and even make a profit of 200 when the Internet bubble is serious. They made a lot of money, but the company and founders suffered huge losses."

This is why Sequoia Capital does not allow Song Weiyang to increase its holdings during the IPO stage. For Wall Street, Song Weiyang has always been an outsider. He is not qualified to get a share of the pie at critical moments - the company's IPO listing, of course, I hope that the more financing, the better, but it will dilute the stocks in large quantities, and existing shareholders may not be able to maximize their interests.

The United States is an inclusive society and is also extremely closed unless you can bring them greater benefits.

Song Weiyang asked, “In your heart, what is the issue price of Google?”

"More than $120," Larry said.

The three of them were chatting about the serious matters, and the waiter in the Chinese restaurant brought the tableware. Shen Si was stunned when he looked at the plastic chopsticks - let's call them chopsticks for now.

One end of the chopstick is a dining fork, which can be used directly by the Americans. The other end is a chopstick. Americans who don’t know how to use chopsticks can also use this thing as tweezers. Of course, you can also choose to break it apart from it, and it is the American version of disposable plastic chopsticks.

Seeing that Shen Si was fiddling with chopsticks, Larry took the initiative to introduce, "Miss Shen, the Li Hongzhang mess in this Chinese restaurant is very delicious!"

"Li Hongzhang...small?" Shen Si was quite surprised and thought to himself that Li Zhongtang was miserable. He was cursed by Americans every day after more than a hundred years of death.

Larry smiled and said, "Yes, Li Hongzhang's scattered rice is the signature dish here, and Zuo Zongtang's chicken is also very delicious."

Well, a pair of political enemies in the late Qing Dynasty are still fighting in the United States.

With great anticipation, Chen Jing finally saw these two famous dishes. In her opinion, one was stewed randomly and the other was guk meat. "Zuo Zongtang guk meat" was sour and sweet. It should be delicious, but unfortunately the thing was so sweet that it tasted so good.

Therefore, "Li Hongzhang Miscellaneous" became the main target and was eaten by Song Weiyang and Shen Si.

Sergei ate Gu?k meat with relish and said, "We still want to try our best to win the A-share model. If it really doesn't work, we can only give up. Anyway, we can control the shares in the short term. If we encounter malicious acquisitions in the future, we will start the 'poison pill plan', and no one else will control Google anyway."

"The Poison Pill Plan is too passive. Kill a thousand enemies and lose 800 of them." Song Weiyang said.

We won’t give a professional explanation for the so-called “poison pill plan”. Let’s give a more vivid metaphor. If a tiger wants to eat me, I swallow poison in front of the tiger, and then I become a poisonous person. As long as the tiger eats me, I can even poison it if I don’t poison it. So the tiger has only two choices, either give up on the plan to eat me, or risk his life to eat me.

Don’t try to kill me, you can die together!

Historically, Shanda once wanted to acquire Sina, and it has been put into practice. Sina escaped by chance through the poison pill plan, but it was also severely damaged in the short term.

Larry asked, "Song, do you have any good suggestions? How to force other shareholders to agree to the ab-share plan?"

"No matter what they are." Song Weiyang said with a smile.

Sergei said, "But they joined hands with underwriters to lower prices, especially Sequoia Capital, which is simply the biggest obstacle to Google's listing."

There are specific reasons for the two founders' vigilance and hatred of Sequoia Capital. Sequoia Capital has a large amount of investment in Yahoo, hoping to turn Google into a wing protector of Yahoo, and even handed over Yahoo's search business to Google, which caused Google to be involved in a very troublesome patent lawsuit two years ago. At the same time, Sequoia Capital also forced Google to replace CEO, trying to control Google through administrative means.

Song Weiyang smiled and said, "Look for more underwriters and replace the current underwriting institutions. There are so many investment banks in the United States, but it is not a solid piece of paper."

"I have this plan, too." Ali smiled wickedly.

Historically, while Alibaba and Sergei were disgusted by investment banks, they also made those investment banks feel disgusted and wanted to vomit.

Because Google's performance is really good, it is the only one among the unlisted Internet companies, investment banks urgently need such companies to stimulate the stock market. So Google never signs an underwriting contract. First, Goldman Sachs and Morgan Stanley announced their cooperation, and then they met Credit Suisse, which was seducing other investment banks to join the market.

Those investors first joined forces to put pressure on Google and soon started to fight. Generally speaking, underwriters would charge 7 financing commissions, and Google was forced to suppress the price to 3. When IPO's second round of financing, Merrill Lynch directly announced its withdrawal because the commission paid by Google was so low that they had no money to make.

Song Weiyang said, "If you don't go on sale, forget it."

Ali and Sergei looked at each other and suddenly burst into laughter. Ali even slapped the table and said, "This is a genius idea, let the capitalists on Wall Street eat shit!"
Chapter completed!