Reborn Entrepreneurial Giant

In addition to chatting at this meeting, the Vision Fund has improved its organizational structure. The domestic Vision Fund, Xiangcai Securities; the Vision Fund headquarters in Xiangjiang, set up a hedge fund to be responsible for high-risk investment, and also responsible for private equity and venture capital in overseas markets. fund……

This adjustment means that the Vision Fund has officially formed from a grassroots team into a qualified investment institution. After Lehman’s bankruptcy, it will probably start fundraising, and use other people’s money to invest to achieve its own strategic goals. What a wonderful thing, think about it. A little excited.

After talking about the Vision Fund, taking advantage of Jumei's high reputation in the Internet industry, Qu Li made an appointment with the Kuxun team. Kuxun is a search engine-based start-up that provides travel information services.

The company established in 2006 has gathered a bunch of big names, the most famous being Zhang Yiming of ByteDance, who is now the CTO of Kuxun. But Chen Hua, the founder of Qu Li's fancy, is a top search engine technical talent in China. Joined Microsoft Asia Research Institute in 2004, participated in Microsoft Chinese Search and directly participated in the development of Microsoft Live Search core code at Microsoft headquarters in Seattle.

Kuxun first started to search and resell train tickets. After financing, it has successively expanded to search channels for real estate, catering, shopping, recruitment, special air tickets, cars, etc. But this kind of positioning is too broad, and it lacks money to develop, so in June, it shifted from the vertical search of life to the focus of entering the travel search market, and investors were even more dissatisfied.

"Are you going to invest in Kuxun?" Chen Hua and the others were excluded by Kuxun's board of directors at this time, so you should not need to find him if you want to invest in Kuxun.

After the capital took control of Kuxun this summer, it wanted to lay off 200 people in Kuxun. It was at this time that Zhang Yiming and Xie left for Microsoft.

"I want to invest in you and your team."

"But Kuxun is already..." Chen Hua was honest, talking about the current situation of Kuxun

"I need you in two aspects. One is the search technology that Jumei lacks, and the other is hotel and air ticket reservations. Of course, the most important thing is that Kuxun is cheap now, and the team is excellent, which can save us a lot of time..."

"Is Jumei going to do a search?" Chen Hua was taken aback

"Search on the website. If possible, the CTO of Jumei will communicate with you about the specific situation. I'm going to stand in front of you to show Jumei's sincerity."

"Can our team of 200 people survive?"

"What Jumei lacks is experienced programmers..."

"What can we do after we go in?" Chen Hua has already been marginalized, what else can he think, Qu Li is such a legend, maybe Kuxun will have a miracle happen.

"Jumei's current energy is mainly focused on e-commerce, followed by cloud computing businesses like Amazon AWS..."

"So what about Kuxun, other than search technology, what is the significance of Jumei?"

"As I said before, Kuxun's hotels, air tickets, and train ticket businesses are all valuable to Jumei. If Jumei can acquire Kuxun, it will retain its shopping search and movie ticket online ordering business..." Qu Li said own plan

"The investment in Kuxun will not be very large for the time being, about 50 million a year. The e-commerce market is expanding rapidly. We can't put priority on the secondary, because the small loses the big..."

"Do you think neither life search nor vertical search has a future?"

"Why should I find ten websites when a whiteness can solve it?"

"We are more professional!"

"Why do you think Jumei has transformed from a clothing e-commerce company to a comprehensive e-commerce company? What is the logic behind this?"

"..."

Looking at the members of the Kuxun team who were lost in thought, and the gentle Zhang Yiming wearing glasses, Qu Li was a little proud and started his own performance...

After Qu Li expressed his sincerity, Jumei will then contact the Kuxun board of directors to formally initiate a takeover offer. The price is set at 10 million US dollars. Don't even think about getting back the cost. If you can lose as little as possible, let's lose less.

The matter here is not over yet, and something new came to the door, Spreadtrum's stock price fell to around $1, and Wu Ping came back from the United States to find Qu Li.

The news that Spreadtrum Communications wanted to acquire the baseband business of Texas Instruments came from the United States. Not only did it not attract more bidders for Texas Instruments, but Freescale, which is also in the United States, contacted Spreadtrum, hoping to sell its own wireless business.

Freescale is a semiconductor subsidiary spun off from Motorola. Now it operates independently. Their wireless business includes GSM/WCDMA/HSDPA/HSUPA/LTE, including 2G/3G/4G baseband chips and radio frequency, PA and other services. .

The baseband business of Texas Instruments is the second largest in the world, second only to Qualcomm. Freescale has Motorola as a major customer and has a high market share. However, the former is more customized, with technology but no patents. The cooperation with Nokia will expire at the end of 2009 ; The contract between the latter and Motorola expired at the end of 2008 and was not renewed. It can be said that no matter which baseband business it acquires, it will not be able to bring revenue growth to Spreadtrum.

"The acquisition of the baseband business and team of Texas Instruments must be paid to Qualcomm for patent fees. The acquisition of Freescale, with Broadcom's lawsuit before it, should not be necessary..."

"We have a cooperative relationship with Qualcomm, and we don't need to be so antagonistic..."

To be honest, the domestic government is shouting and screaming at Qualcomm tax, but other mobile phone companies such as Huawei and ZTE, such as Coarse Grain OV Lenovo, do not have this qualification, but they may accept it with pleasure. After all, Qualcomm tax is accompanied by patent protection.

Honor's deep binding with Google Android and Qualcomm has both advantages and disadvantages, which limits its own development. It will be overtaken by the iPhone in two or three years, and it will be difficult to surpass it in the future. But what can he do? The HTC back then was different than the iPhone. Well, it was still overturned.

"With the acquisition of Qualcomm, our revenue next year will be greatly improved..." Wu Ping continued, Texas Instruments' contracts with custom customers last until 2012, but Nokia's big contract ends in 2009.

"Insist on long-termism, the explosion of smart phones, the mobile phone industry will usher in a major reshuffle, a single baseband is useless, what we want is an integrated, high-performance and low-power SOC..."

"But we lack experience in mobile phone chip research and development, and we are even more short of money."

"Honor will spend money to develop ARM-based chips with Spreadtrum, and will only provide products and services to third parties for the time being..."

Apple often pays fruit chain suppliers to develop exclusive devices for them. Honor can actually develop it by itself, but the contract with Qualcomm is there. Qu Li is willing to sacrifice immediate interests for long-term interests and support the development of Spreadtrum. At the same time, rely on the support of other mobile phone companies Purchasing reduces comprehensive R\u0026D costs.

"Spreadtrum's share price is still falling..."

"It's okay, at most we will privatize Spreadtrum."

"But investors in the United States have lost so much, they will..."

"The leeks have been harvested..." Qu Li just wanted to continue, but soon realized that something was wrong: "It is still possible to set a fixed increase, but it will dilute the rights and interests of the original shareholders, and Spreadtrum is not our only choice."

The founder is a minority shareholder. Whether it is privatization or fixed increase, Wu Ping's interests will be damaged, but when the company develops, it will be better than half-dead now, unless Wu Ping and others are optimistic about Qu Li's plan for Spreadtrum and want to make more money. much money.

"If you have any ideas, please communicate with Sun Jianhe. I don't want to waste time on these things." Qu Li is too lazy to talk nonsense with Wu Ping. It was because he was in the wrong position. For example, Li Yinan was obviously a technical talent, and he engaged in some insider trading, and ended up serving a few years in prison.