Sun Zhengyi, Ma Yun And Yang Zhiyuan Had To Tell Stories.

Investment

Project.

Ma Yun's first stroke

I also corrected a version, saying that Ma Yun gave him an introduction in Sun Zhengyi's office, and then spent 6 minutes in the bathroom persuading Sun Zhengyi, which was misled by the media.

I don't believe that it takes 6 minutes for a gay boy to solve a little hand, and there is no need to talk about it for 6 minutes. Although they are almost the same, standing in the bathroom is not a good thing.

Actually, it was in the office of Wan Tai in Beihai.

We called all the heads of Internet companies to the office, and then Ma Yun was underneath.

During the Spring Festival, I disclosed this feeling to Ma Yuncai in his family. He felt so good that he was waiting downstairs. The coordinator said, "you only have 6 minutes to explain, then you ask questions.

If you are not interested or interested in 6 minutes after listening, you will leave without any chance. If you are interested in this topic, you will ask questions a little longer. "

So 6 minutes came from here.

Some of the famous people went up to the project.

Ma Yun came back a little bit later. He wore the simplest jacket, a broken jacket and half a piece of paper.

I haven't had the chance to ask him why he used half a sheet of paper now. He probably wrote the main points. Ma Yun is studying English, so his English is very good. His language talent is still used, and there is e-commerce.

At that time, I heard clouds and mist, and I didn't know much about e-commerce.

He confidently said, "I am not short of money".

I knew afterwards that Ma didn't seem to have much money, but now he and I do not admit it.

He said, "Wu Ying, you are wrong in this version. We got the money from Goldman Sachs. For me, 5 million dollars is the sum of all the money in the world."

At that time, the cow was actually the head of sina.

His company is not listed yet, and it is already worth 600 million dollars. Sun Zhengyi said, "I must support a company and destroy it."

He is very willing to be such a real person.

After Ma Yun finished, we began to vote, including Xue Cunhe (Softbank China executive partner), Zhou Zhixiong (founder of venture capital venture partners), these are well-known figures in the investment circles now. We all agreed with Ma Yun and stopped the investment of Sun Zhengyi's other investment.

It was also a famous Internet Co at that time, and the head of the company is now my good friend. He still said, "if you vote for me, there will be no Ma Yun."

I said, "if I throw you, I will still have Ma Yun, and I will not have your share, because you have made a lot of mistakes that you should not make."

UT is SBCVC's LP.

So at that time, we first gave Alibaba $18 million, and in 2003 added $50 million to Alibaba.

I think this is one of Sun Zhengyi's smartest investments.

Sun Zhengyi invested in many companies related to the Internet industry. I think there are three investments that are very correct and make a lot of money.

One is YAHOO.

At that time, when he voted for Yang Zhiyuan, Yang Zhiyuan was not short of money. He had already begun to make money, and the cash flow was very good. VC had invested him in the stock market.

Then Sun Zhengyi went to ask Yang Zhiyuan, "who are your competitors?" Yang Zhiyuan said Netscape.

At that time, Netscape did a good job in the market.

Sun Zhengyi said, let Yang Zhiyuan must accept his investment.

Yang Zhiyuan said, "I am not short of money."

Sun Zhengyi said, "well, I have 100 million dollars. I have to invest in an Internet company. If you don't let me vote, I will go to your competitors."

Yang Zhiyuan said, "you might as well throw me."

100 million dollars. That's a lot of money. It's a great threat to others.

But because of this investment, Sun Zhengyi made a lot of money later.

Another is UT.

I talked to him for 30 minutes, and he decided to invest 30 million dollars, 30% of the shares, 30, 30, 30.

I counted the money, invested in 1995, and later he invested a lot.

On the day of our listing in March 3, 2000, the money increased 100 times and earned 3 billion dollars.

That's where he invested his investment.

Another is Alibaba.

He should be regarded as the shareholder of Alibaba's third big groups. YAHOO first, Ma Yun plus team second, Sun Zhengyi third, and now there are about 25% of the shares.

So Ma Yun is also director of Softbank.

In the near future, you will see a very wonderful story. It has a great relationship with Ma Yun and Softbank. It has a direct relationship, but I can't reveal it yet.

Sun Zhengyi is very interesting. He sees a company and keeps investing, not letting others throw it, and that's the same for UT.

He said, "as long as you are short of money, we will vote."

He refused to let others vote.

It was not until five or six months before we listed that we persuaded him, "you can't only have one investor, we need some strategic investors."

This only allowed Intel and Panasonic to invest.

Intel made 10 times in 6 months.

Sun Zhengyi is the same with Alibaba. He always wants to invest.

In two years, he invested one hundred million dollars to make Taobao and Taobao free for Ma Yun, and then continued to invest 350 million or 1 billion continuously.

In 2005, because of investment for some time, I am the chairman of Digital China, and now the chairman of Digital China, I have made a forum on Digital China in the United States.

Yang Zhiyuan was also invited to the top of the US IT industry.

Because I organized this meeting, I hope more people to participate.

Ma Yun is more fun. We must let him come.

He started to say, and then there was something clashed and I couldn't say it. After one or two times, I called him.

I said, "you must come, even if you stay for two days, so we have a good communication."

Then he went.

Yang Zhiyuan was not familiar with Ma Yun at that time. Sun Zhengyi introduced them to them.

Ma and I couldn't play basketball. Then we told Ma Yun, what are we going to do? The members of their meeting group visited the 17 mile beautiful road without organizing the ball, then went to the golf driving range, and an American coach taught us to play.

Ma Yun always wants to make a play and say that we will win or lose.

It was fixed the night before, and we were going there to compete, and the participants came to bet.

At that time, it was $100 a dollar, who beat far, who won, every bet was $100, half of them were on me, half of them were on Ma Yun.

At that time, those who played were all bet on Ma Yun, and those who couldn't play bet on me to win.

Because I am taller than Ma Yun, I think I will win.

In fact, the people they know know that the ball must be hard to beat.

When we got there, the coach asked us to toss a coin. I chose the right one. I said, I'll fight first.

In fact, I was stupid. At that time, I should be fighting later.

As a result, I didn't move the ball, but I couldn't fight it. He didn't move at all. Ma Yun played 70 yards. He was happy and broke. He took 100 dollars and helped the man who bet on him win some money.

YAHOO's Yang Zhiyuan took time to have a private conversation with Ma Yun at that time.

At that time, eBay was a large company. Now eBay is also quite large. It is a company with a market capitalization of about about 30000000000 dollars, when their market value is even higher.

Because of the Internet bubble, they were probably worth about 50000000000 dollars.

At that time, if eBay fought with Alibaba, Alibaba was very afraid that Goldman Sachs were afraid that they would run away, but Ma needed money.

The bank did not give him money. At that time, the scale of PE and VC in China was very small. Even though we did not have so much money to do for him, he needed quite a lot of money to do it.

Finally, YAHOO sees them.

Yang Zhiyuan's words touched Ma Yun. "We are all Chinese and do something together."

At that time, YAHOO invested $1 billion, and this (single financing limit) record lasted for a long time. Until the beginning of this year, Jingdong mall took a $1 billion 500 million investment to break the private capital record of private enterprises besides listing.

1 billion US dollars invested, YAHOO accounted for 43%, and the voting power was 37%.

The $1 billion investment and the acquisition of YAHOO China is a particularly important development for Alibaba.

He has a lot of money to support, the operation is very successful, the management is also very good, really eBay play in China's share is very small.

The price of YAHOO comes in. We earn almost 10 times.

Our board of directors asked for the sale. I agree with Xue Mu He. Don't sell it. If you wait for another two years, you will make 10 times more.

When YAHOO came in in 2005, if we waited for two years -- 2007, it would be 10 times as big as that, and we would make 500 million dollars.

But the board thinks that 50 million dollars is enough, forget it, sell it.

On the day when Alibaba listed in Hongkong, I remember very clearly that Ma Yun called me and he was very happy. "Oh, Wu Yingna, where are the 24.8 billion?"

Listening to the Mandarin and English of Zhejiang people, I am really happy for this friend.

Really, 24 billion 800 million dollars.

UT was the first company to exceed $10 billion.

Ma said long ago, "do more if you want to do it, because you have already done 10 billion dollars".

So in this process, Ma Yun gathered good investors and partners at several key nodes, which is very important for the listing.