Reborn multinational giant
Chapter 428
Marcus stopped the argument of eBay CEO John Donahoe. Although PayPal was acquired by eBay, they operate independently in name. Donahoe bypassed him and directly refused Huizhong and Fang Zhe, which made him feel very embarrassed.
Fang zhe just doesn\'t see the contradiction between them. After a company acquires another company as a subsidiary, if the subsidiary maintains independent operation, there must be a contradiction between the management of the parent company and the management of the subsidiary.
At this time, Fang zhe also understood why Marcus condescended to meet him at the door. I\'m afraid he had long guessed about the purpose of his trip and the cooperation conditions between Huizhong and paypal.
As for Donahoe, as a reborn person, Fang Zhe, who has learned about the separation of eBay and PayPal in his previous life, naturally knows why he is unwilling to split PayPal from eBay.
Although Donahoe is the CEO of eBay, he is a professional manager after all, and he still has no shares, only options and wages. His interest depends on eBay\'s performance. If eBay\'s performance is good and the stock price is good, then his "salary" will be high, otherwise it will be low, and he may even be fired.
Now, after more than ten years of development, eBay\'s growth in the field of e-commerce has already slowed down. On the contrary, PayPal\'s payment business, which was acquired to facilitate transactions, is getting better and better, and even contributes nearly half of the revenue and profits of the parent company eBay.
If PayPal is spun off, eBay\'s growth rate will be halved in an instant, and eBay\'s share price will shrink all the way and become worthless. In that case, let alone making money, I\'m afraid it will come to an end!
In fact, PayPal was spun off from eBay in 2014 until it was officially spun off in 2015. After independence, PayPal\'s share price rose all the way, while eBay\'s share price fell all the way. Until 2018 before Fang Zhe\'s rebirth, PayPal\'s market value was nearly $100 billion, but eBay\'s market value was less than $30 billion, including current PayPal CEO Marcus, EBay CEO Donahoe and a number of professional managers and executives of PayPal and eBay all ended up packing up and leaving.
To put it bluntly, the main players in this game are not the CEOs of their two companies on the surface, but the complex interests of the board shareholders behind the two companies.
"Mr. Fang Zhe, let me make you laugh. Our company is very willing to cooperate with you in the field of mobile payment, but the conditions for splitting PayPal from eBay are even more, which need to be decided by the board of directors." Marcus politely refused Fang Zhe, but his eyes were not free to look at a middle-aged man wearing black hair glasses not far from him.
"It seems that this guy is really undercover." Fang zhe followed Marcus\'s hint and looked at the middle-aged man.
If Fang zhe hadn\'t done enough homework on the high-level information of PayPal and eBay, I\'m afraid Fang zhe would never have thought that the black haired middle-aged man in front of him was actually the most talkative person in the audience.
This person is no one else. He is Pierre omidia, the founder of eBay, and the chairman of eBay\'s board of directors. His attitude is very important whether PayPal can be separated from eBay or even agree to the conditions for Huizhong\'s cooperative investment.
In Fang Zhe\'s opinion, omidia, the founder of eBay, should be a reborn person. After he founded eBay in 1995, he handed it over to Whitman, a professional manager who had served as an executive in P & G and Disney in 1998. He himself chose to "retire" at the age of 30 when he held more than 40% of eBay shares worth tens of billions of dollars Live a bohemian life!
To tell the truth, Fang zhe still envies people like omidia. If he can, Fang zhe also wants to leave Huizhong alone and become China\'s richest man who eats, drinks and plays all day. However, this idea occasionally reverberates in Fang Zhe\'s mind. Everyone has his own life attitude and choice, and Fang Zhe is the kind of person who can\'t be idle.
Although omidia is in a "retired" state and rarely interferes in the affairs of eBay, when Fang Zhe, founder and CEO of Huizhong, a company comparable to eBay, comes to visit in person, omidia naturally has to go out in person.
What\'s more, Fang zhe doesn\'t believe that omidia, who has such a life attitude, can\'t guess the intention of his visit. If he can\'t guess, he can\'t sit in this office today.
"Mr. omidia, what do you mean?" Fang zhe asked directly without beating around the bush.
"Mr. Fang Zhe, I\'m glad you can discuss cooperation in person today, but as Marcus said, I can\'t decide to split PayPal alone, which needs the discussion and voting of all shareholders of the board of directors." omidia gave the same answer as Marcus.
"Wait for the board of directors to decide?" Fang zhe smiled contemptuously. The board of directors of which company is not decided by several major shareholders. Although there are a and B shares in American stocks, and the equity model of separation of voting right and equity, it is obvious that eBay, a company whose management is basically professional managers, is not included in this list. It actually knows eBay, It is still several major shareholders of omidia and eBay.
Now, if Fang Zhe is right, omidia and several other eBay shareholders present have held more than 50% of eBay shares, that is to say, omidia and others have long thought of the current scene. The reason why he said so is to bargain and strive for greater interests.
Fang zhe secretly gave Huang Siyi a look, and Huang Siyi clearly started the negotiation with PayPal:
"Mr. Marcus, Mr. omidia, I wonder if you understand that Huizhong company split its third-party payment software Alipay similar to PayPal from its parent company and established a completely independent company last year.
Although part of this is due to our mainland China policy, the more important reason is to provide better independent development and rising space for Alipay.
I know that PayPal of your company has covered hundreds of countries in the global payment field, with more than 200 million users, annual transaction volume of hundreds of billions of dollars and net revenue of billions of dollars. Therefore, I am very optimistic about the prospect of our cooperation.
This time, I specially took a basic development report from the independent Alipay company in recent two years. Because we Huizhong and Alipay are not listed companies, these information has not been specifically disclosed. I believe you will be very interested in reading this report and data. "
Huang Siyi said that in the curious and expectant eyes of the PayPal side, including omidia and others, he asked the assistant next to him to take out more than ten prepared reports from the briefcase. Since omidia and others had ideas long ago, how could Fang zhe not have prepared early!
"OhMyGod!" was quiet because of reading the report. A startling cry suddenly sounded in the conference room.
Fang zhe just doesn\'t see the contradiction between them. After a company acquires another company as a subsidiary, if the subsidiary maintains independent operation, there must be a contradiction between the management of the parent company and the management of the subsidiary.
At this time, Fang zhe also understood why Marcus condescended to meet him at the door. I\'m afraid he had long guessed about the purpose of his trip and the cooperation conditions between Huizhong and paypal.
As for Donahoe, as a reborn person, Fang Zhe, who has learned about the separation of eBay and PayPal in his previous life, naturally knows why he is unwilling to split PayPal from eBay.
Although Donahoe is the CEO of eBay, he is a professional manager after all, and he still has no shares, only options and wages. His interest depends on eBay\'s performance. If eBay\'s performance is good and the stock price is good, then his "salary" will be high, otherwise it will be low, and he may even be fired.
Now, after more than ten years of development, eBay\'s growth in the field of e-commerce has already slowed down. On the contrary, PayPal\'s payment business, which was acquired to facilitate transactions, is getting better and better, and even contributes nearly half of the revenue and profits of the parent company eBay.
If PayPal is spun off, eBay\'s growth rate will be halved in an instant, and eBay\'s share price will shrink all the way and become worthless. In that case, let alone making money, I\'m afraid it will come to an end!
In fact, PayPal was spun off from eBay in 2014 until it was officially spun off in 2015. After independence, PayPal\'s share price rose all the way, while eBay\'s share price fell all the way. Until 2018 before Fang Zhe\'s rebirth, PayPal\'s market value was nearly $100 billion, but eBay\'s market value was less than $30 billion, including current PayPal CEO Marcus, EBay CEO Donahoe and a number of professional managers and executives of PayPal and eBay all ended up packing up and leaving.
To put it bluntly, the main players in this game are not the CEOs of their two companies on the surface, but the complex interests of the board shareholders behind the two companies.
"Mr. Fang Zhe, let me make you laugh. Our company is very willing to cooperate with you in the field of mobile payment, but the conditions for splitting PayPal from eBay are even more, which need to be decided by the board of directors." Marcus politely refused Fang Zhe, but his eyes were not free to look at a middle-aged man wearing black hair glasses not far from him.
"It seems that this guy is really undercover." Fang zhe followed Marcus\'s hint and looked at the middle-aged man.
If Fang zhe hadn\'t done enough homework on the high-level information of PayPal and eBay, I\'m afraid Fang zhe would never have thought that the black haired middle-aged man in front of him was actually the most talkative person in the audience.
This person is no one else. He is Pierre omidia, the founder of eBay, and the chairman of eBay\'s board of directors. His attitude is very important whether PayPal can be separated from eBay or even agree to the conditions for Huizhong\'s cooperative investment.
In Fang Zhe\'s opinion, omidia, the founder of eBay, should be a reborn person. After he founded eBay in 1995, he handed it over to Whitman, a professional manager who had served as an executive in P & G and Disney in 1998. He himself chose to "retire" at the age of 30 when he held more than 40% of eBay shares worth tens of billions of dollars Live a bohemian life!
To tell the truth, Fang zhe still envies people like omidia. If he can, Fang zhe also wants to leave Huizhong alone and become China\'s richest man who eats, drinks and plays all day. However, this idea occasionally reverberates in Fang Zhe\'s mind. Everyone has his own life attitude and choice, and Fang Zhe is the kind of person who can\'t be idle.
Although omidia is in a "retired" state and rarely interferes in the affairs of eBay, when Fang Zhe, founder and CEO of Huizhong, a company comparable to eBay, comes to visit in person, omidia naturally has to go out in person.
What\'s more, Fang zhe doesn\'t believe that omidia, who has such a life attitude, can\'t guess the intention of his visit. If he can\'t guess, he can\'t sit in this office today.
"Mr. omidia, what do you mean?" Fang zhe asked directly without beating around the bush.
"Mr. Fang Zhe, I\'m glad you can discuss cooperation in person today, but as Marcus said, I can\'t decide to split PayPal alone, which needs the discussion and voting of all shareholders of the board of directors." omidia gave the same answer as Marcus.
"Wait for the board of directors to decide?" Fang zhe smiled contemptuously. The board of directors of which company is not decided by several major shareholders. Although there are a and B shares in American stocks, and the equity model of separation of voting right and equity, it is obvious that eBay, a company whose management is basically professional managers, is not included in this list. It actually knows eBay, It is still several major shareholders of omidia and eBay.
Now, if Fang Zhe is right, omidia and several other eBay shareholders present have held more than 50% of eBay shares, that is to say, omidia and others have long thought of the current scene. The reason why he said so is to bargain and strive for greater interests.
Fang zhe secretly gave Huang Siyi a look, and Huang Siyi clearly started the negotiation with PayPal:
"Mr. Marcus, Mr. omidia, I wonder if you understand that Huizhong company split its third-party payment software Alipay similar to PayPal from its parent company and established a completely independent company last year.
Although part of this is due to our mainland China policy, the more important reason is to provide better independent development and rising space for Alipay.
I know that PayPal of your company has covered hundreds of countries in the global payment field, with more than 200 million users, annual transaction volume of hundreds of billions of dollars and net revenue of billions of dollars. Therefore, I am very optimistic about the prospect of our cooperation.
This time, I specially took a basic development report from the independent Alipay company in recent two years. Because we Huizhong and Alipay are not listed companies, these information has not been specifically disclosed. I believe you will be very interested in reading this report and data. "
Huang Siyi said that in the curious and expectant eyes of the PayPal side, including omidia and others, he asked the assistant next to him to take out more than ten prepared reports from the briefcase. Since omidia and others had ideas long ago, how could Fang zhe not have prepared early!
"OhMyGod!" was quiet because of reading the report. A startling cry suddenly sounded in the conference room.