Episode 162. This is the first time since the opening of the school.
At my words, Eric Schuma, the CEO of Goggles, put on a surprised expression.
“..60% is 500 million dollars?”
“yes. At 60% of today’s market price, it’s about $360 million, which means we’re going to give you another $140 million.”
After thinking for a moment, Eric shook his head.
“The current market price is the same, but even in a year or two, it will more than double that price. The price is too low. Besides, if you have a 60% stake, you are asking for management rights, but that is not possible. Our two founders really hate being interfered with. So, we have been receiving minimal external investment so far. However, in this case, you came with a special item called the U map, so if you hand it over to us, we will show you the proper sincerity.”
“I want to know what the sincerity of showing is.”
“$700 million for a 49.9% stake. How is it?”
$700 million for a 49.9% stake.
It wasn’t bad conditions.
The value of Goggle’s stake jumps to $3 billion in just two years.
At that time, the 700 million that I invested will become 1.5 billion dollars, and I will be able to earn more than 200% of my investment.
And if U-map joins the goggles, the rate of return will be even higher.
But I was not satisfied with that level.
“We’ll fix $700 million. Instead, we want a 60% stake.”
Eric shook his head.
“Then I think I should say sorry. As I said before, the top priority of our policy is to maintain control. No matter how much money you give, it won’t be 60%.”
Also, it doesn’t come off easily.
“Hmm… the motto of the goggles was ‘change the world’, wasn’t it? No matter how good an idea is, it takes money to change this vast world. That’s a lot of money too. Even if it turns into a profit next year, wouldn’t it be possible to change the world with just the profits from business management?”
“..that is something we are thinking about too. However, handing over the stake is a last resort, so I have no intention of taking it yet.”
“Even if I have management rights, I have no intention of participating in the management of Goggles, but if you really like it, how about doing this?”
“..If it’s like this..?”
“I will lower the voting rights of the stock I will receive by one-tenth.”
Eric asked with a surprised face.
“Are you going to lower your voting rights to one-tenth?”
voting rights.
the right to exercise management rights.
It can be said that management rights are secured as much as the number of voting rights.
In Korea, each stock has equal voting rights.
However, unlike Korea, the US can hold different voting rights for each stock.
For example, after dividing the stock into two types, you can set the voting rights of Class A stock to 10 and Class B voting rights to 1.
In a situation where the management right is to be exercised, 10 Class B shares must be collected to have the same rights as 1 Class A share.
Therefore, if I lowered the voting rights of my stock to one-tenth, even if my stake was 60%, I could not exercise the management right.
However, there was no change in the fact that 60% of the goggles profit was mine, as the rights in case of cash dividends are the same as Class B and Class A stocks, except that I cannot exercise my management right.
“It’s the best way to show my will to guarantee management rights. How is it? Is there anything that still bothers you?”
I continued to look at Eric who was thinking.
“If you are offered a U-map item, $700 million, and even voting rights, and you refuse, we are considering finding another search portal company as the next best solution. Shouldn’t the original transaction be equal in giving and receiving?”
At those words, there was tension on Eric’s face.
“We talk to the founders and try to get back to you as soon as possible. So, please delay your judgment a little.”
After #jaeun’s return, Eric visited Goggles’ two founders, Larry Poe and Sergey Bain.
Eric said to Larry.
“Larry. Damoye CEO Mr. Kang has proposed to acquire a 60% stake in Goggles.”
At that, Larry jumped.
“I beg your pardon? 60%?”
“never. Eric, you must have refused with a single blow, didn’t you?”
Sergei, who was next to him, also assisted with a word.
“It’s really ridiculous. Do we still look like small ventures that rent and operate a warehouse? As a representative of a very successful IT company, I was expecting what he would say, but I was disappointed.”
Eric calmed the two of them excited and continued.
“Calm down for a second and listen to me.”
When Eric told Jaewoon exactly what he had heard, their expressions changed.
Sergei opened his mouth.
“..Certainly, it doesn’t seem like a proposal that was taken lightly.”
Eric nodded his head.
“Investment money is also investment money, but if Mr. Kang ever forms a partnership with the afternoon side, our momentum, which we are chasing right now, may be broken.”
Larry asked.
“Isn’t it an item that had that much destructive power in Eric’s eyes?”
Although both Larry and Sergey were initially reluctant about Eric’s presence.
Thanks to Eric’s insight and insight, the company has grown so much, and now he trusts him more than anyone else.
“yes. Even though I tried quite hard to restrain myself in the place I was with Mr. The item itself was good, but the completeness was even more surprising. It felt like I was using the best of the strengths that could be extracted from that item… I was really greedy.”
The three of them thought each other for a moment.
Sergei spoke first.
“Are you in a situation where you have to get the money in some way anyway? Like me and Larry, there are a lot of items that I want to do, but I can’t because I don’t have the money. Even if we hand over 60% of the stake to Mr. Kang, the voting rights are overwhelming, so it will not threaten our management rights, and if we can bring that U-map item, we will be able to increase our share much faster than now. I agree.”
Larry nodded too.
“I agree too. For $700 million, you can quickly start a new item like a translation service. If I receive an investment, I think it would be better to receive it from Mr. Kang, who has excellent capabilities as a businessman, rather than investors who are only interested in investment returns.”
Eric looked at the two of them and said.
“If the two of them agree, I will contact Mr. Kang to agree to the acquisition of the stake.”
It was my first job after returning from a business trip to the United States.
“Is there no need to go to America anymore?”
“yes. After reviewing the acquisition contract, the founders of goggles decided to come here. The last time I went to America, they said they would come this time.”
“Oh, people are polite!”
“haha. Rather than that, it seems like you want to see Korea at least once, right? In particular, I think you are curious about what our Damo-Yeo headquarters looks like. When I said that it was a 45-story building, he kept asking me about the size of the building and how many employees it had.”
“okay? Anyway, that’s good.”
“yes. There is no need to worry about it any more, since the agreement has been made on the exclusive provision that only U-Map can be used neatly in Easy OS.”
Daewon hyung suddenly made a mischievous expression on his face and asked me.
“By the way, you said you were going to give a speech as a representative of a school graduate?”
“..how did you know that?”
“How do you know? It was just in the newspaper.”
“A newspaper?”
“yes. The day after tomorrow, we will gather as representatives of Seoul National University graduates and the CEO will speak with me.”
“Huh… the media don’t really have much to do. What’s in the papers saying that’s a big deal?”
“It’s great. Considering only the wealth you have, even the chairman of a large conglomerate group is no match for you. A young businessman who succeeded like that is a representative of Seoul National University graduates, so it is bound to be of utmost interest.”
“Hmm… is it? Then I should pay attention to the speech.”
“okay. Prepare well. It’ll probably go straight out of the newspaper. haha.”
#End of February, the day of the Seoul National University graduation ceremony.
Seo Yi-hyeon, a graduate student at the engineering college, was driving to school, and the parking attendant lifted a pole and blocked the window, so the window was lowered.
“I am a student here.”
“There is no entry today. There is a temporary parking lot about 300 meters away, so park there.”
“What do you mean? You want me to walk 300 hundred meters?”
“No, why can’t you go in?”
As Seo Yi-hyun and the parking attendant were arguing, a black sedan passed leisurely by his side.
Seo Yi-hyun saw it and built a pedigree.
“That car over there, why is that just going in?”
“That’s the Blue House Chief of Staff’s car.”
Surprised by the words, Seo Yi-hyun widened her eyes.
“..the chief of staff? Why does such a person come to our school?”
“I have a graduation ceremony today.”
“graduation? But what does that have to do with the chief of staff?”
Meanwhile, another black sedan passed by him.
When Seo Yi-hyun saw it and was about to say another word, the parking attendant said.
“That is the car of the Chairman of the Gowon Group. They were brought in because they were involved in the graduation ceremony.”
As the chairman of the second-largest chaebol in the business world jumped out, Seo Yi-hyun gradually lost his dignity.
“..Is President Kowon also here for the graduation ceremony?”
“yes. You may not have heard the rumors, but today, everyone, CEO Kang Jae-woon will give a speech as a representative of the graduates. So, there are so many people coming in, so normal vehicles are restricted from entering. So please return the car now.”
“Oh, I see. All right.”
#Meanwhile, in front of the gym where the graduation ceremony will be held.
Philosophy graduate Ha Cheol-jin and his mother were surprised when they arrived in front of the gym.
his mother asked him.
“Chuljin-ah. Didn’t I say that the graduation ceremony is held in the gym?”
“..Right.”
“But what about those chairs out there? And what about those big white screens?”
Ha Cheol-jin answered with a bewildered face.
“..me too…why are you doing this today?”
Originally, there were more people who didn’t attend the graduation ceremony than those who did.
Even the chairs in the room were not fully filled.
To be honest, Ha Cheol-jin didn’t even want to attend.
I had to come because of my mother’s sanctification.
But today, there were hundreds of chairs outside.
There were even people with large broadcast cameras on their shoulders here and there, so the atmosphere was quite strange.
“Any famous person coming?”
At the words of her mother, Ha Chul-jin recalled a conversation she had with her classmate a few days ago.
“Chuljin-ah, did you hear that?”
“I heard that the CEO came out as the representative of this graduate.”
“Damoyo CEO? Come to think of it, that person was a student at our school, right? Did you graduate this time?”
“It was. So I’m going to the graduation ceremony.”
“What? Sometimes they say that people who go there are rude.”
“That’s what you say when you didn’t know that such a famous person would come out as a representative of the graduates. If not for this opportunity, when will a commoner like me be able to see such a person in person again?”
“It’s like such a snob.”
“Mom, I think I know why. I heard that the CEO is coming today as representatives of the graduates.”
“Damoyo CEO?”
Ha Cheol-jin lifted the D-Tab that was on his side and showed it.
“I am the representative of the company that made this.”
the mother asked with a surprised face.
“The company that made it is a huge company. But were you a student here?”
“yes. That’s great, right? Probably a lot of people from outside come to see him.”
The mother was greatly admired and looked at Ha Cheol-jin.
“After all, it’s Seoul National University, so all those people come out.”
“Um… no matter how much Seoul National University students are, they usually don’t do that. It is probably the first time since the school was established that a person who did not graduate from an undergraduate degree succeeded in a business of that size.”
“yes. It’s just that he’s special. Maybe a genius that comes out once in a hundred years, or something like that. Oh, here it is! that person.”
