The parent company of MIH is South African Newspapers, and the CEO of South African Newspapers, Cus Baker, has never been a traditional newspaper man. He has no baggage or complex about the newspaper industry. He very clearly believes that the newspaper industry will decline.

When he had the opportunity to take over the power, he did not hesitate and went straight to the digital world. At the beginning, MIH was just an investment department he established for Internet investment.

MIH moves firmly in the Internet market and chooses to hold the shares obtained through investment for a long time. The most classic and successful investment of MIH is

There is no better example than investing US$34 million in Tencent in 2001. At its peak, the shareholding reached 50%. In 2017, its income increased nearly 5,000 times, with a compound annual growth rate of 64.94%.

MIH also proudly declared in its official documents: Since buying Tencent shares, MIH has only received dividends and has never sold a single Tencent stock, even if Ma Huateng himself reduces his holdings from time to time.

But MIH never wavered. No matter how Tencent's stock price soared or plummeted suddenly, it was not until 2018 that MIH cashed out part of its funds.

The final result is that MIH made more money from Tencent than all domestic VCs combined.

Before the formal meeting with Kus Baker, Liu Zhiping first met in Xiangjiang with Wang Dawei, the vice president of MIH China Business Department who found Tencent.

Wang Dawei is an American who speaks fluent Chinese. He also got this name himself. "The Internet can make a big difference."

Wang Dawei discovered Tencent by accident, "Every time I go to a Chinese city, I will go to the local Internet cafes to see what games the young people are playing.

I was surprised to find that the OICQ (predecessor of QQ) program was hanging on the desktop of almost all Internet cafes. I thought this should be a great Internet company.

At the end of 2000, I contacted the general managers of several invested companies and found that their business cards all had their OICQ numbers printed on them. This made me even more excited and wanted to see what kind of company this was."

Intuition is a shortcut to the truth.

So, when the life of "Little Penguin" was hanging by a thread, "Network has a lot to offer" also found Tengcent Company on the fourth floor of SEG Technology Pioneer Park under the guidance of fate.

Later facts also proved that Wang Dawei's unique vision and Ma Huateng were indeed lucky. Whenever this "little penguin" was in trouble, the god of fate would always favor it.

The purpose of Liu Zhiping's search for Wang Dawei is also very simple. He hopes that he can convince MIH's boss Cus Baker so that Fengrui can smoothly acquire MIH's Tencent shares.

Wang Dawei gave the answer: "Martin, we are also old friends. You should know what I am like. I am not as humble as you Chinese people, so I will tell you straight.

If you, Fengrui, want to acquire Tencent, I can stay out of it, and I won’t give you any nonsense after you officially send the acquisition money to Tencent.

But you can't ask me to help you convince Baker. I can't do this. I can't betray my Chinese friends. I hope you won't embarrass me!

Moreover, I have been in China for so many years, and the Tencent team is the smartest and most diligent group of people I have ever met, and you may not win in the end!"

Liu Zhiping also said apologetically to Dawei: "Thank you, Dawei, for embarrassing you. I hope we can have the opportunity to fight side by side!"

In fact, Liu Zhiping just wanted to give it a try, so after being rejected by Dangwang, Liu Zhiping flew directly to Cape Town, South Africa, the headquarters of MIH, to meet with Cus Baker, the CEO of MIH's parent company, South African Newspapers.

When Liu Zhiping was at Goldman Sachs, Cus Baker accepted him, so he easily got an appointment to meet with Cus Baker.

Everyone is a businessman and very busy, so at the beginning of the meeting, Liu Zhiping said straight to the point: "Baker, we have dealt with each other before. I believe you should be very clear about the purpose of my trip. We are Fengrui."

I want to buy the Tencent shares you hold."

As for Kus Baker, it can’t be said that he doesn’t care about Tencent and Fengrui, but at least he doesn’t care about it that much. The current Tencent is just an investment for himself to “cast a wide net”, and it is not the “only MIH”.

The market value of Tencent’s shares is as high as one MIH” Tencent,

After all, current Fengrui and Tencent can only be considered small companies among Internet companies in the world, let alone among companies around the world.

Therefore, Cus Baker did not talk about the acquisition of Tencent at first. Instead, he was more curious about Liu Zhiping joining Fengrui. As Cus Baker, who has dealt with Liu Zhiping, he knew that Liu Zhiping was also an arrogant person.

He didn't even dare to ask Liu Zhiping to join him. Of course, Liu Zhiping probably didn't like his company either. Now he has joined a small company instead. It's hard not to attract the attention of Kus Baker.

So, Kus Baker said to Liu Zhiping: "Martin, actually I'm more curious about why you joined Fengrui. If I knew you had the intention to leave, I would have invited you to join our South African newspaper industry. I wouldn't even ask you to be the president of MIH."

question."

Liu Zhiping replied: "Baker, many people have asked me this question, including my father, my wife, my friends, and my former boss.

It seems that everyone thinks why I gave up my high salary, as if I shouldn’t ‘marry’ to a small company like Fengrui.

As everyone knows, it is my honor to join Fengrui. It is really my honor. This is not modesty. This may be the most successful decision in my life. This is a team with passion, dreams and courage to fight.

Especially my current boss, he is really a strange person. I have never seen anyone with such a forward-looking vision and such a big picture. Although he is still very young, I believe his future is limitless!"

After listening to Liu Zhiping's words, Kus Baker became even more curious about Li Feng. Even Liu Zhiping, who had always been proud, admired him so much.

But Kus Baker still said: "Martin, when it comes to hard work and dreams, I have come into contact with many entrepreneurial teams.

In particular, the Tencent team is the most diligent and motivated team I have ever seen, so why did I choose to sell Tencent’s shares to you, Fengrui?”

What dreams! What passion! What diligence! It’s all nonsense in the world of capital!

Liu Zhiping knew that Kus Baker was going to discuss specific conditions, and Liu Zhiping also followed Li Feng's wishes and stated his own conditions: "Baker, the current valuation of Tencent is about US$150 million to US$200 million.

Fengrui values ​​Tencent at the highest price of US$200 million, and is willing to pay a premium of 20% to acquire your Tencent shares. MIH’s current shareholding in Tencent is 46.5%, with cash of US$111.6 million, which can be spent within one year.

complete."

After listening to Liu Zhiping's quotation, Kus Baker shook his head repeatedly and said "NO, NO, NO" three times. Then Kus Baker said: "Martin, you should know that we at MIH are not short of money.

!”

Before coming, Liu Zhiping also discussed with Li Feng on the phone, knowing that MIH did not care about the money and had to pass the share swap plan.

Liu Zhiping also readily gave another plan, saying: "Then based on our Fengrui valuation of US$500 million some time ago, you must know that this was already half a year ago.

And we, Fengrui, are willing to acquire 46.5% of MIH’s Tencent shares for 10% of the shares and US$50 million!”

After listening to Liu Zhiping's quotation again, Kus Baker still shook his head repeatedly, saying as before, "We at MIH are not short of money!"

At this time, Liu Zhiping had no choice but to show his low price, "We Fengrui can exchange 20% of the shares in your hands for 46.5% of the Tencent shares!"

After listening to Liu Zhiping's quotation again, Kus Baker still shook his head repeatedly, saying as before, "We at MIH are not short of money!"
Chapter completed!