Depth: Gates, Jerry Yang and Choi-chi Murdoch's trial of strength
Posted on May 16th, 2008 in Depth reading google, myspace, test, yahoo
This is a global top-level business intelligence major competition.
Early February, Bill Gates led Microsoft announced plans to 44.6 billion U.S. dollars acquisition of Yahoo. News, world attention. However, Yahoo co-founder Jerry Yang in the first time that Yahoo will never allow the "bondage to survive." On at this time, News Corp. head Rupert Murdoch high-profile "scrap" to, Yahoo's bid to join the ranks.
Three world-class commercial giants, staged a "Campaign." Some people say that this is a "conspiracy" - Murdoch and Jerry Yang is in "collusion" to raise the value of Yahoo; Some also say that this is Bill Gates permanent desire to dominate the IT industry's first attempt; Some even said, adding "scuffle" Murdoch attempted spying, senior Internet industry secrets…… no matter how the three giants, with each of thinking, no matter how the result of struggle, it is certain that in the acquisition and anti - The trial of strength in the acquisition, the three will be played every individual skills, showing the most senior business intelligence……
Gates, the last one mind
"Global People" magazine reporter Min Luo
2008 to Bill Gates, will be a special year. July, he will create your own Microsoft officially retired. But before that he intended to do an "earthshaking" thing - to complete the acquisition of Yahoo.
The two giants to each other
Gates of Microsoft, is currently the world's largest and most valuable company, with the market value of 320 billion U.S. dollars and 21.6 billion U.S. dollars in cash reserves. Fukediguo the Gates, as is entirely possible for Fentu money, but he has a principle - not to spend money wrongly accused.
Early February, Microsoft officially submitted to the Board of Yahoo offer single, would like to share, the price of 31 U.S. dollars, Yahoo's purchase of all of the shares, the acquisition in cash plus a certain number of Microsoft shares. At that time, according to Microsoft's shares, the total value of the deal reached 44.6 billion U.S. dollars. However, Microsoft submitted quotations, its shares continued low, if the original proposed acquisition transaction, Yahoo will be received well below the 44.6 billion U.S. dollars. Yahoo's board of directors was that Microsoft's offer "significantly underestimated the value of Yahoo's" Therefore, the acquisition of Gates rejected the request.
Shortly thereafter,半路Shachu "Cheng Yaojin" - News Corp. head Rupert Murdoch suddenly high-profile appearance, that is willing to 50 billion U.S. dollars to buy Yahoo. News Corp. senior also claimed that Microsoft submitted to the Yahoo offer one-on the day, they were with Yahoo high-level contacts.
Murdoch's suddenly "scrapped" out, so that Gates was shocked. He knew that it would be Hongtaiwujia Murdoch, Yahoo more valuable. Nevertheless, he still claimed that the acquisition of Yahoo would not abandon the plan.
Later, Gates opened up another "front" - Yahoo's board of directors aside, turn to do the work of Yahoo's largest shareholder, sought to move forward to put pressure on, to force them to sit down to negotiate with Microsoft.
Board of Trustees led by Jerry Yang of Yahoo, quickly clear the intention of the Gates, immediately declared its readiness to put "poison pill" - Once a hostile takeover of Microsoft in Yahoo's stock, it will take substantial measures such as issuing new shares, diluting Microsoft Yahoo held by the company's stock share, it can not achieve control of Yahoo's purpose.
Yang showed that the "magic weapon", Gates is a Road to the problem. However, it seems that he did not intend to compromise. February 18, his hard-line statement once again, Microsoft's pricing is "fair", on this issue, they will not be conducted in private with the Yahoo board negotiations. Gates also reminded Jerry Yang, if rejected Microsoft's offer, Yahoo Internet search market will eventually be the boss Google Jikua.
The current "three big mountains"
Is determined to Yahoo's acquisition of Gates, in addition to Murdoch in competition with Jerry Yang and wisdom, have to use their brains to solve several problems before it.
The first is to resolve antitrust problems.
Gates had eaten on this issue in the defeat. October 2007, Microsoft was found in an attempt to "eliminate competitors in the market and harm the interests of consumers", the EU paid 497 million euros of hefty fines. Now, Microsoft will acquire Yahoo may face the same problem. However, many people believe that Microsoft and Yahoo in the Internet business in a relatively high degree of overlap, even if the two together still Dibu Guo Google, it is possible through the U.S. government's antitrust investigation.
Second, Yahoo operates in Gates will become a cross in front of a big mountain.
Yahoo in China to branch offices as an example, it is controlled by the Alibaba. Gates announced the planned acquisition of Yahoo, Alibaba Chairman of the Board had tough Humayun said: "Whether Microsoft and Yahoo's acquisition results of Alibaba, will not change the company's leadership and the (company's) direction." This means that Gates To be successful, a full acquisition of Yahoo, will not be easy - he was either Yahoo's regional partners to provide more board seats, or to provide them with more favourable prices. This would lead to the tremendous increase in the cost of acquisition. Gates will spend this kind of "innocent of money"? ?
Third, Microsoft's Bill Gates still faces shareholder opposition.
Microsoft's shareholders that the acquisition of Yahoo would be a lot of energy scattered Microsoft, is entirely self-trouble. These shareholders also believe that the 44.6 billion U.S. dollars of the purchase price too high, once the transaction successful, will enable Microsoft's main business - the software industry suffer. It is precisely because of these worries, most recently, Microsoft's stock price has continued to decline, or more than 10 percent. Not only individual investors, even many institutional investors have started to reduce the holdings of Microsoft stock.
All for "remedial measures"
As everyone knows, Bill Gates of Microsoft is leading the "software carrier." May be the result of inertia, Gates has always dominated the operating system to software development, as Microsoft's main business. But in the Internet industry, its performance less.
After the Internet in 2000 before and after the development of low ebb after 2006 also ushered in a new round of rapid expansion. Its huge market space, more and more software developers to begin a large scale to enter this field. However, the software industry, Microsoft boss, I do not know why it has not fully followed up.
2005, Gates issued a called Live Internet application platform. However, this collection office, blog, mail, photographs, and other services on one platform for the Internet, does not develop smoothly. On the contrary, Google is advancing by leaps and bounds at this time, their business from the initial search to the Internet mainly to the development of diversified products and services. This makes Microsoft is facing challenges from Google. For example, on February 6 this year, Google has released a word-processing, spreadsheets and scheduling, and other functions of the office software on the Internet by Repeng - this should have been Microsoft's "territory."
What is the Jiuxin Gates, Google is free to the general users with software to corporate users of software sales prices much lower than Microsoft to use Google's free software, even on the Internet, handling and storage of their own文件. This is a major challenge for Microsoft.
"Remedial measures never late." The Gates to retire understand that he must leave a question of Microsoft's future "legacy" - acquisition of Yahoo, Microsoft Internet opened up a new road. Gates believes that now is the best time - Yahoo has Fengguangbuzai, not only severe decline in page views, but also reported the news of the layoffs.
But let Gates irritated that the Murdoch bid to join the ranks, not only for he is a blow to Microsoft's future is also a great test - News Corp. and Yahoo if the negotiations are successful, the two sides set up after the merger the new company, Traffic on its network will reach 150 billion times, making it second only to Google the world's second-largest Internet entities. If this, Gates will then ignore the Internet business to pay a heavy price.
"Global People" magazine Contributing By Zhang Rui
It is often said, "Sishibuhuo", but this year just 40-year-old Jerry Yang, but the unprecedented confusion - in the end Mai Bumai own Yahoo ?
Lonely Rye
Jerry Yang Gang Chudao, someone asked him Are you afraid of Microsoft, he said, "not afraid." However, on January 31, 2008 night, when Bill Gates will hit his home telephone and stated to 44.6 billion U.S. dollars to buy Yahoo, he strongly feel uneasy.
Yahoo's Jerry Yang to the staff, he refused to explain the reasons for Microsoft, only emphasized the point: "Microsoft's acquisition of the request, greatly underestimated the value of Yahoo." He believes that global Internet advertising market is rising and is expected to 2010, The size of the market by 2007 of 45 billion U.S. dollars to 75 billion U.S. dollars. Moreover, Yahoo or global awareness of the highest and most respected brand one of the world every two Internet users, there is one of Yahoo's users are trying to use…… Jerry Yang made the remarks to encourage employees to hold onto positions.
Moreover, Jerry Yang and that they still have a bargaining chip against Microsoft - Yahoo "fun of corporate culture" and Microsoft orthodox stereotypes incompatible with the corporate culture, many employees do not want Microsoft Yahoo to become its new owner; five Microsoft The major shareholder, is also a major shareholder of Yahoo, Jerry Yang Xiaoming also of interest to them, for they are opposed to Microsoft's acquisition; Google has taken the initiative to Microsoft's attempt to acquire Yahoo's motive Taofa, condemned the move is monopolistic behavior, Internet industry will undermine the healthy competition - from within the industry such voices, is likely to lead to the U.S. government to investigate Microsoft's acquisition of motivation……
However, even Jerry Yang himself does not know, Bill Gates in the face of the offensive, how long he will adhere to. Gates has said, is willing to "take any necessary action" to complete the deal. What is the anxiety that Jerry Yang, Yahoo's many shareholders have publicly expressed their support and agree with Microsoft to offer a code. There's even a grip 1.36 million shares of Yahoo stock fund companies would also like to prosecute Jerry Yang, the reasons for that - he refused to Microsoft's acquisition programme. Even Yahoo's board of directors also recently split to the Chairman of the Board, headed by Luo Yibo Stockton part of board members, have expressed support for Microsoft on Yahoo's acquisition.
The outside world to speculate that Microsoft might offer will be raised to 50 billion U.S. dollars, or directly from the hands of Yahoo shareholders hostile takeover of its shares, then in June this year at the general meeting of shareholders on the reorganization of Yahoo's board of directors. By that time, Yang also did not yield probably can not.
"David Tiger" the first case of "Qunlang"
In fact, Microsoft's coveted Yahoo, can be traced back more than 10 years ago.
1994, is still reading courses Dr. Jerry Yang and his classmates Filo, co-founded a "Jeremy World Wide Web Wizard" search engine site (later renamed "Yahoo!"). Soon it became the search engine leader.
April 12, 1996, Yahoo successfully listed on the Nasdaq. On that day, its shares rose to 13 U.S. dollars from 33 U.S. dollars, the company raised the funds to more than 20 billion dollars.
Wind large tree strokes. Yahoo attracted glory over the overflowing of the capital giants greedy eyes. America Online (AOL), Microsoft and others have to find a home, everyone should buy Yahoo. The highest profile is Bill Gates. He issued a memorandum companies will embrace the Internet's "historic Declaration," which eat into Yahoo's confidence. America Online will stick to Jerry Yang, once the commitment to the successful acquisition of Yahoo, Jerry Yang ensure that a billionaire; Otherwise, it will support another engine company Yahoo Jikua.
Jerry Yang took the stubborn refusal of all "to offenders." Later, he said: "If I were the sake of money, then I can sell early to Yahoo, but I do not want to betray our own things, because Yahoo is my career."
Repeat the embarrassment of war fail
Ma usually like to wear shirts and trousers Ka Qibu Jerry Yang, the life of civilians in particular - hungry four U.S. dollars can be called a bowl of Vietnamese beef noodle soup, in addition to hiking holidays is the cyclist. And the daily life of Yaoqiubugao, as a veteran of the entrepreneurial Jerry Yang, his company's position in the same Buzai Yi. In a very long time, Yahoo's chief executive officer of the External are the professional managers, he just "civil" canonization "Yahoo Chief."
Tim Cougar is the first to employ Yahoo CEO. At that time, he and Jerry Yang and Filo were company employees and called Yahoo "iron triangle." In the "iron triangle" of support, Yahoo was created 500 million visitors monthly income of 100 million U.S. dollars track record. However, in the beginning of the new century "network cold spell" of the attacks, Yahoo also entered a development period of doldrums. Tim Cougar in the resignation request of the Board of Trustees of the left.
Terry Semel to the Yahoo Jerry Yang is the personal recommendation of the Board of Trustees of the second term CEO. Before he was president of Warner Brothers. The beginning of taking office, Semel Yahoo bloated by cleaning up the organizational structure, so that once miraculously Yahoo's market value reached 127 billion U.S. dollars. But on at this time, Google rise rapidly, will soon be left behind Yahoo, the world's first boarded the king of search-engine. The squeeze on Google, Yahoo's performance continued decline in stock prices continued lower.
Thus, 10 years ago. "Ghost" has emerged - in June 2007, Bill Gates, Jerry Yang once again sent to the offer, the bid is 50 billion U.S. dollars. However, Microsoft left to the olive branch was quickly blocked Jerry Yang back, because Jerry Yang said that Yahoo has yet to be pitiable, "bondage" stage.
But in fact, Yahoo is becoming more and more "pathetic." November 2007, Google's shares break through 700 U.S. dollars mark at one stroke, while Yahoo is still hovering in the under 30 dollars. Finally, the sound of the Board of censure, Semel leaving a heavy heart. Chongfengxianzhen do not like Jerry Yang, CEO of the identity of the official to embark on Yahoo's management outlook.
Yang also can not seem to save Yahoo, even though he developed an ambitious revitalization plan and prepare mass layoffs, but Yahoo's latest annual report shows that in 2007 the company's net profit fell 12 percent in particular his main G of the fourth quarter, the company received only about 200 million U.S. dollars of net profit, down 23 percent.
Therefore, the internal Yahoo, Jerry Yang suspected it was the beginning of wisdom. Some people even said that if Microsoft, Yahoo News Corp. bid likens Gates, Rupert Murdoch and Jerry Yang of the three major business intelligence competition, then, Yang is likely to be charged in the wind.
In fact, Yang has already lost to Gates and Murdoch's experience. 2005, the United States in the acquisition of network competition in the MySpace community, Yang lost to Rupert Murdoch. 2007, the United States in panic buying at the popular site Facebook, and Jerry Yang defeated by the Gates. Especially the acquisition of Facebook loss of the incident, still make Jerry Yang Ewan sigh. At that time, the United States as the second largest social networking site Facebook, released to the wind after the auction, Yahoo in the first six months on Microsoft and the other side of the negotiations, but in the end Microsoft's "interference" success, Yahoo had to Yinhenertui…… the first time Failure means that Yahoo missed a golden opportunity after another. Therefore, many of Yahoo's staff: Jerry Yang, Yahoo you can lead how far ?
(The author of the Guangdong Technical Teachers College Dean of the School of Management, Professor of Economics)
"Global People" magazine Contributing By Zhang Rui
It is often said, "Sishibuhuo", but this year just 40-year-old Jerry Yang, but the unprecedented confusion - in the end Mai Bumai own Yahoo ?
Lonely Rye
Jerry Yang Gang Chudao, someone asked him Are you afraid of Microsoft, he said, "not afraid." However, on January 31, 2008 night, when Bill Gates will hit his home telephone and stated to 44.6 billion U.S. dollars to buy Yahoo, he strongly feel uneasy.
Yahoo's Jerry Yang to the staff, he refused to explain the reasons for Microsoft, only emphasized the point: "Microsoft's acquisition of the request, greatly underestimated the value of Yahoo." He believes that global Internet advertising market is rising and is expected to 2010, The size of the market by 2007 of 45 billion U.S. dollars to 75 billion U.S. dollars. Moreover, Yahoo or global awareness of the highest and most respected brand one of the world every two Internet users, there is one of Yahoo's users are trying to use…… Jerry Yang made the remarks to encourage employees to hold onto positions.
Moreover, Jerry Yang and that they still have a bargaining chip against Microsoft - Yahoo "fun of corporate culture" and Microsoft orthodox stereotypes incompatible with the corporate culture, many employees do not want Microsoft Yahoo to become its new owner; five Microsoft The major shareholder, is also a major shareholder of Yahoo, Jerry Yang Xiaoming also of interest to them, for they are opposed to Microsoft's acquisition; Google has taken the initiative to Microsoft's attempt to acquire Yahoo's motive Taofa, condemned the move is monopolistic behavior, Internet industry will undermine the healthy competition - from within the industry such voices, is likely to lead to the U.S. government to investigate Microsoft's acquisition of motivation……
However, even Jerry Yang himself does not know, Bill Gates in the face of the offensive, how long he will adhere to. Gates has said, is willing to "take any necessary action" to complete the deal. What is the anxiety that Jerry Yang, Yahoo's many shareholders have publicly expressed their support and agree with Microsoft to offer a code. There's even a grip 1.36 million shares of Yahoo stock fund companies would also like to prosecute Jerry Yang, the reasons for that - he refused to Microsoft's acquisition programme. Even Yahoo's board of directors also recently split to the Chairman of the Board, headed by Luo Yibo Stockton part of board members, have expressed support for Microsoft on Yahoo's acquisition.
The outside world to speculate that Microsoft might offer will be raised to 50 billion U.S. dollars, or directly from the hands of Yahoo shareholders hostile takeover of its shares, then in June this year at the general meeting of shareholders on the reorganization of Yahoo's board of directors. By that time, Yang also did not yield probably can not.
"David Tiger" the first case of "Qunlang"
In fact, Microsoft's coveted Yahoo, can be traced back more than 10 years ago.
1994, is still reading courses Dr. Jerry Yang and his classmates Filo, co-founded a "Jeremy World Wide Web Wizard" search engine site (later renamed "Yahoo!"). Soon it became the search engine leader.
April 12, 1996, Yahoo successfully listed on the Nasdaq. On that day, its shares rose to 13 U.S. dollars from 33 U.S. dollars, the company raised the funds to more than 20 billion dollars.
Wind large tree strokes. Yahoo attracted glory over the overflowing of the capital giants greedy eyes. America Online (AOL), Microsoft and others have to find a home, everyone should buy Yahoo. The highest profile is Bill Gates. He issued a memorandum companies will embrace the Internet's "historic Declaration," which eat into Yahoo's confidence. America Online will stick to Jerry Yang, once the commitment to the successful acquisition of Yahoo, Jerry Yang ensure that a billionaire; Otherwise, it will support another engine company Yahoo Jikua.
Jerry Yang took the stubborn refusal of all "to offenders." Later, he said: "If I were the sake of money, then I can sell early to Yahoo, but I do not want to betray our own things, because Yahoo is my career."
Repeat the embarrassment of war fail
Ma usually like to wear shirts and trousers Ka Qibu Jerry Yang, the life of civilians in particular - hungry four U.S. dollars can be called a bowl of Vietnamese beef noodle soup, in addition to hiking holidays is the cyclist. And the daily life of Yaoqiubugao, as a veteran of the entrepreneurial Jerry Yang, his company's position in the same Buzai Yi. In a very long time, Yahoo's chief executive officer of the External are the professional managers, he just "civil" canonization "Yahoo Chief."
Tim Cougar is the first to employ Yahoo CEO. At that time, he and Jerry Yang and Filo were company employees and called Yahoo "iron triangle." In the "iron triangle" of support, Yahoo was created 500 million visitors monthly income of 100 million U.S. dollars track record. However, in the beginning of the new century "network cold spell" of the attacks, Yahoo also entered a development period of doldrums. Tim Cougar in the resignation request of the Board of Trustees of the left.
Terry Semel to the Yahoo Jerry Yang is the personal recommendation of the Board of Trustees of the second term CEO. Before he was president of Warner Brothers. The beginning of taking office, Semel Yahoo bloated by cleaning up the organizational structure, so that once miraculously Yahoo's market value reached 127 billion U.S. dollars. But on at this time, Google rise rapidly, will soon be left behind Yahoo, the world's first boarded the king of search-engine. The squeeze on Google, Yahoo's performance continued decline in stock prices continued lower.
Thus, 10 years ago. "Ghost" has emerged - in June 2007, Bill Gates, Jerry Yang once again sent to the offer, the bid is 50 billion U.S. dollars. However, Microsoft left to the olive branch was quickly blocked Jerry Yang back, because Jerry Yang said that Yahoo has yet to be pitiable, "bondage" stage.
But in fact, Yahoo is becoming more and more "pathetic." November 2007, Google's shares break through 700 U.S. dollars mark at one stroke, while Yahoo is still hovering in the under 30 dollars. Finally, the sound of the Board of censure, Semel leaving a heavy heart. Chongfengxianzhen do not like Jerry Yang, CEO of the identity of the official to embark on Yahoo's management outlook.
Yang also can not seem to save Yahoo, even though he developed an ambitious revitalization plan and prepare mass layoffs, but Yahoo's latest annual report shows that in 2007 the company's net profit fell 12 percent in particular his main G of the fourth quarter, the company received only about 200 million U.S. dollars of net profit, down 23 percent.
Therefore, the internal Yahoo, Jerry Yang suspected it was the beginning of wisdom. Some people even said that if Microsoft, Yahoo News Corp. bid likens Gates, Rupert Murdoch and Jerry Yang of the three major business intelligence competition, then, Yang is likely to be charged in the wind.
In fact, Yang has already lost to Gates and Murdoch's experience. 2005, the United States in the acquisition of network competition in the MySpace community, Yang lost to Rupert Murdoch. 2007, the United States in panic buying at the popular site Facebook, and Jerry Yang defeated by the Gates. Especially the acquisition of Facebook loss of the incident, still make Jerry Yang Ewan sigh. At that time, the United States as the second largest social networking site Facebook, released to the wind after the auction, Yahoo in the first six months on Microsoft and the other side of the negotiations, but in the end Microsoft's "interference" success, Yahoo had to Yinhenertui…… the first time Failure means that Yahoo missed a golden opportunity after another. Therefore, many of Yahoo's staff: Jerry Yang, Yahoo you can lead how far ?
(The author of the Guangdong Technical Teachers College Dean of the School of Management, Professor of Economics)
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