232. noomo media
On a plane flying from New York to California.
For Mark Tarpenning, the situation now seemed like a dream.
‘I can’t believe Ho-Young Yun saw what I posted on the community as a grudge.’
It may make people laugh when they hear it, but Mark Tarpenning and Martin Everhard had a dream.
‘One day internal combustion engine cars will disappear from the world. The era of electric cars will come.’
Although it was unpredictable whether that future would come in 10 or 20 years, the two of them believed that that time would come someday.
They had even decided on a company name.
‘Tesla’
It takes its name from Nikola Tesla, who was one of America’s greatest inventors and was also said to be a famous competitor to Edison.
However, they did not have the money, so they planned to establish ‘Numo Media’ first, and later sell Numo Media to build Tesla.
The reason why Noomo Media was established in California was that California was the most concerned about emissions and environmental issues in the United States, so it was thought that it would be active in establishing Tesla.
‘This is like a heaven-sent opportunity.’
As the CFO of Numo Media, he had some understanding of the circumstances of the US political and business world.
So, of course, he knew Yun Ho-young’s name well.
‘As the head of Gaia Investment, a major shareholder in prominent IT companies including Blizzard. There are even rumors that he has a connection with the US president.’
That’s why he left behind the important thing of a $3 million loan to expand the company and boarded the plane in a hurry.
‘Chairman Yun Ho-young is also a person who sees the future like us?’
However, his question is a problem that can be solved only by meeting and talking with Yun Ho-young.
After a good night’s sleep, you’ll be in California.
Mark buried himself in the economy seat he bought to save a penny and went to sleep.
.
next day.
Hoyoung once again arrived at Noomo Media’s office.
Yesterday, I decided to meet up with Martin Everhard again, and I spent the day comfortably touring San Francisco for the first time in a long time.
I bought a gift for Sumin, which I don’t normally buy, and I rode the cable car like a tourist.
“I was waiting. President Yoon.”
“Oh, this is Mr. Mark Tarpenning.”
“hello. I’m Mark Tarpenning, CFO of Noomo Media. It is an honor to meet you.”
Mark Tarpenning bowed his head slightly like Asians, knowing where he had learned from.
Hoyoung thought that it was unfamiliar to be treated with such respect in the United States.
So far in the US, he has been a kind of challenger.
He and the other party at the table were always the subject of negotiations, and none of them were easy.
However, the attitude of Numo Media’s management toward him now was completely different.
They greeted him with the same attitude as if they were receiving an honored guest.
Martin Everhard, who had been bewildered yesterday, had a deep conversation with Mark last night, and his attitude towards Hoyoung became even more solemn.
After a brief chat, they had a full-fledged conversation.
“Now then, shall we talk about investing in earnest?”
“haha. I was waiting for you to come out and say something.”
“As I said, I want to invest in Tesla. However, I have been thinking of two ways to invest.”
“Two?”
“yes. So please listen to both and decide.”
Hoyoung looked around the two members of Numo Media once and then continued.
“The first is simply how I engage with the Tesla project. If you accept me as a co-founder, I will finance everything. Instead, since I am a co-founder and a major shareholder, please give me a 51% stake.”
Hoyoung’s first suggestion was simple.
Mark and Martin had something they wanted to say, but they kept quiet when they remembered Hoyoung’s request to listen to both.
Seeing them like that, Hoyeong smiled and opened her mouth again.
“Second, you want me to sell this Numo Media. In addition to the sale proceeds, we will also invest in Tesla additionally. I will receive the share I request in proportion to the total investment. How are you?”
When Mark and Martin heard Hoyoung’s second proposal, their eyes lit up and looked at each other.
‘I knew it would be like this.’
Hoyoung suppressed the laughter that was about to come out.
In the original history, they sold this Numo Media in 2001 for a whopping $187 million, and they built Tesla with that money.
Of course, since the electric car was a business that could not be reached with only about 250 billion won in currency, he went to Elon Musk for a large amount of investment, and as a result, he was kicked out of the company.
“If you were to acquire Noomo Media, how much do you think it would cost? I think that’s the most important thing.”
Mark Tarpenning asked Ho-young, as if he would of course choose the second one among Ho-young’s suggestions.
“haha. To be honest, I’ve been looking at the size of Numo Media’s business as well as its sales. So the conclusion I came to is that it has a value of about $83 million.”
“You mean $83 million.”
Mark’s face was not that bright.
There were two reasons for this. First, the amount Hoyoung suggested was not satisfactory.
He was also a prominent figure in the IT industry.
He knew very well that just $83 million was not enough to start an electric car business.
And the second reason is that Hoyoung presented the right amount so accurately.
As Noomo Media’s chief financial officer, he naturally knew better than anyone how much the company would be worth, and knew that Hoyoung had offered a reasonable amount.
“By the way···.”
Seeing Mark with that expression, Hoyoung smiled and said,
“If you accept the second offer, aren’t we like partners? I will purchase all shares for $120 million. And we invest $60 million as an initial investment fund. Then you just have to give me a 33% stake. How is it?”
Hearing Hoyoung’s words, Mark’s eyes lit up.
$180 million.
It was exactly the amount he thought he would need for his initial funding.
‘Yes, I can start with that amount of money.’
He asked Hoyoung cautiously.
“I’m terribly sorry, but could I talk to Martin for a minute?”
“sure. We can give you more time if needed. You can make an appointment to meet next time, and think about it slowly until then. I have work to go to Seattle in a week or so, so I hope to talk as much as possible within that time.”
“ah···! no. It will only take a moment.”
“haha. Anything.”
Mark gestured to Martin.
“Would you like to come over here and talk to me for a minute?”
“okay.”
And the two went into the meeting room next door.
Hoyoung was looking at them with a smile on her face.
.
After about 20 minutes, Mark and Martin returned to the room where Hoyoung was waiting.
“How did you talk?”
“That’s right. Chairman Yoon. We have decided to sell the company.”
Hoyoung smiled happily and nodded.
“Good idea. I believe that the two of us can make Tesla the world’s leading electric vehicle company.”
“thank you. I will do my best to live up to the president’s expectations.”
“haha. Aren’t you now a partner with an equal stake in me? It may take some time, but please be comfortable with me.”
“For that, we should have dinner together tonight. thank you President.”
The executives of Hoyoung and Numo Media joined hands.
“And, one more thing, there will probably be moments when you feel like $180 million isn’t enough. At that time, please feel free to contact me. Please do not forget that I am the representative of Gaia Investment.”
Hoyeong said to them with an infinitely kind face.
Watching Hoyoung say that, Mark Tarpenning and Martin Eberhard felt that they had a stronger backing than anyone else.
“Then, leaving the details up to the staff, can you recommend the best restaurant you two go to often? I’ll buy you dinner tonight.”
“good. There is a place I often go to. But where are the working staff…”
“haha. I will be here tomorrow morning. I will put in a call to come right away.”
“Aha···. All right.”
Hoyoung left Numo Media with a bright face and headed to the restaurant.
Of course, on the way to the restaurant, it was Ho-Young who did not forget to call Smith and tell him to fly to San Francisco.
.
.
.
Smith moved to California, and the acquisition of Numo Media went off the rails.
It was the result of the two executives who wanted to dispose of Numo Media as soon as possible, and Hoyoung’s will.
On the way, Smith grumbled that he only called him when something like this happened.
‘So, shall we not invite long-distance business trips from now on?’
At Hoyoung’s words, Smith, who used to secretly give the impression of going on a business trip as an excuse, even waved his hand.
Hoyoung soothed him with delicious rice and alcohol.
In this way, Hoyoung acquired Numo Media for a reasonable amount of 120 million dollars.
“boss. Why did you acquire Noomo Media? To be honest, I don’t know.”
“okay?”
“yes. To be honest, Numo Media feels very different from how Boss has invested so far. I don’t think I’ll be explosively successful in the future, and I don’t think I’ll be able to make a big profit here. Even if this company grows… I think it could grow to $200 million, but nothing more. I don’t think Boss bought this company for a mere $80 million profit.”
Hoyoung smiled.
Maybe it’s because I’ve been with Smith for a long time.
He was clearly aware of Hoyoung’s behavior and investment patterns.
“you’re right. I bought Numo Media not for the same reasons as before, but for two different reasons.”
“Can I ask you something?”
“The first is the Tesla project I decided to invest in.”
“The electric vehicle project?”
“yes. As you are well aware, I am already doing a car business in Korea. That’s why I think electric cars will bring great synergies in the future. And I thought the Tesla project had enough potential.”
Smith nodded.
If you think only of Tesla, the context coincided to some extent with the value investment Hoyoung had been doing so far.
“And the second is because I have a place to use this Numo media.”
“A place to write?”
“yes. Now do you remember where I said to go tomorrow?”
“I remember it as Seattle, Washington.”
“you’re right. There is one company in Seattle that I had my eye on. And the company is now desperately wanting an e-book company to build on its own.”
“okay? What is the name of that company?”
“Amazon. Originally, it was an online bookstore. Distributes physical books or ebooks. And recently, it is an online shopping mall that has started distributing items such as electronic products and furniture.”
Hoyoung set his next target as Amazon, which will later become a huge dinosaur company that accounts for more than 60% of online distribution in the United States.
