I am a chaebol in South Korea

Chapter 140: Zak's Desire for Control

"Drink the strongest wine, ride the wildest horse: conquer the wild horse, make her bow to her brother's crotch." '

With superb skills and strong waist strength, the wild horse yearning for freedom yielded to the strength of the big brother. '

'Give rewards: Be perceptive. '

Compared to the lipstick on your neck, the reward for two hours of practice smells good.

'Keen insight: with stronger observation and keen insight, see through the surface to get the truth. '

The reward is a bit like "face reading and writing," observing the target through micro-expressions, body language and subtle emotional changes.

Li Zhenyu can see through a person's true feelings and thoughts, 'Is this an alternative version of mind reading? '

Not knowing that his mind was wandering again, Claire circled him to make sure there was nothing wrong.

The three of them walked at her urging toward the stairs, a long corridor flanked by separate rooms.

Under the soft carpet, the boards echo "creak".

On both sides of the door came the decadent sound, let Li Zhenyu smile more and more presumptuous.

Turns out, Zach's a big player, too.

"Mark." In a room covered with red carpet, the two met Zuckerberg playing Super Mario.

"Hi, Claire." Dropping the handle, Xiao Zha looked at Li Zhenyu and said, "Is this your BOSS?"

"Lee Jin-woo, from one of South Korea's most powerful families, is a business genius himself."

Just like Li Zhenyu will get the intelligence of the participants, Xiao Zha also does his homework.

His history, Chunju Lee's influence in South Korea, his personal career and moves on Wall Street.

Among other things, he is the majority shareholder behind Universalinvestment.

Zhao is just a puppet he pushed to the front.

"Welcome, Zhao." They raised their hands to say hello, and Zach asked them to sit where they wanted.

The sofas at the scene have all been replaced with more fashionable chairs and sofas.

Li Zhenyu chose a "palm" style chair to sit down, "Zack, how much money are you going to ask for this financing, and how many shares can you take out?"

Facebook's angel round took place in 2004, with PeterThiel and ReidHoffman investing $500,000 for a 10% equity stake.

Series A was in 2005, and this time Facebook got $12.7 million.

In April 2006, Facebook raised $27.5 million and was valued at $550 million.

Round C, right now.

In October 2007, Microsoft invested $240 million, or 1.6% of the equity, valuing Facebook at more than $15 billion.

In November, Li Bancheng invested $60 million, accounting for 0.4% of the equity.

In early 2008, EuropeanFoundersFund invested $15 million.

In March, Li Bancheng added $60 million, and its share rose to 0.7%.

If Claire's information is correct, after tomorrow's funding meeting, C will be terminated.

Whether there will be a Series D before the IPO is still unknown.

Facebook is growing so fast that it is burning money in direct proportion to its growth.

The faster it grows, the faster it burns.

No one can say for sure that this money will last until Facebook goes public...

Now that he had asked, Zach cut to the chase and told him the terms.

This time, he will offer 1.2 percent of the Class A shares, with a base price of $240 million.

And Microsoft's investment amount is the same, the proportion of equity is different.

Less than eight months ago, in the middle of a Li half town.

The speed at which Facebook's valuation has risen is an understatement.

Moreover, this is only the base price, the real price must be higher than 240 million.

As for the so-called Class A shares, here we have to mention Facebook's unique dual-class share structure.

The equity issued during the financing period is divided into two types, A/B, with the same rights, but the voting proportion is different.

Normally, each share held by shareholders can be counted as 1 vote, and the number of votes is accounted for by the number of shares owned.

However, the dual-class share structure enlarges this right infinitely.

The voting rights of A-class shares remain unchanged, and they still enjoy the rights they deserve.

The voting power of Class B shares is magnified 10 times on this basis, and the vote per share is calculated as 10 votes.

In simple terms, ten Class A shareholders who hold 1% of their shares will vote the same as one Class B shareholder who holds 1% of their shares.

In addition, in order to ensure absolute control of the company, co-founder Sean Parker had the idea of adding a voting proxy agreement in addition to the dual-class share structure.

Before the listing, all investment institutions and individuals must sign this agreement with Facebook to enter.

At its core, it agreed to authorize Zuck to vote on behalf of shareholders in 'certain' occasions where a shareholder vote is required.

The agreement guarantees Zuck absolute control, even if his personal stake drops to 1 percent, based only on proxy voting rights.

Inside Facebook, he also retains strong influence and decision-making power.

"Everyone here today is invited?"

"No, only you... And a few others."

This big gasp, make Li Zhenyu almost excited.

"Only A shares, no B shares?"

"Class B shares are issued only to the founders' team or outstanding contributors involved in the company's operations."

Zach told him in a nice way, 'No way. '

The B-class shares were created to ensure his absolute control of the company.

From the beginning, it was tailor-made for him.

How can it be issued?

In his knowledge, no one should raise such doubts in front of him.

Class B shares?

That's my place, my...

"Outstanding contribution, I thought only the founding team could get."

Li Zhenyu smiled thoughtfully, as if he really played the idea of B shares.

This displeased Zach, and the look he gave Claire conveyed it.

Clare smiled wryly that, as the introducer, it was not her fault.

Besides, since there are A/B points, why can't others even ask a question?

This young man is too petty and overbearing.

Clare's impression of him, too, fell a few points.

Entrepreneurs who think they can change the future are very different from the average person.

Now...

She just wanted to say, 'When it comes to money, everyone is equal.' '

No one is more noble than others, no one is more hypocritical, everyone is trying to play their role, in order to be able to share more.

At this time, Li Zhenyu's thinking eyes are full of condensation, and also noticed something wrong with small Zha.

"Sorry, funny thing happened to me... Do you like hunting, Zach?"

Mr. Lee laughed loudly and steered the conversation toward hunting.

He didn't say anything about that, as if he'd never even thought about Class B shares.

Even before seeing Zach's expression, Lee Zhenyu had already made a decision.

Instagram, the Instagram idea, maybe you should keep it to yourself.

Xiao Zha is only feeding a white Wolf, he really want to tell him the idea of Instagram, get B shares to become a majority shareholder of Facebook.

One day, he turns around, and Zach has a knife in his back.

Li Zhenyu also dont want to do the stage of the old general, babbling down.

He was intrigued by the idea of what would happen if Instagram and Twitter were combined.

Text and photo sharing, plus the innovation of short videos...

Can Facebook's era of domination still come?