Chapter 291 I am standing at your end

"In fact, the conflict between us is inevitable."

In the conference room, Xie Jingxing broke the silence with his concluding remarks. He sat by the window with his back to the light. Through the glass window on the other side, he could see the inquiring eyes constantly passing through the corridor and looking in.

Prince Wang clenched his fists to cover his mouth and coughed muffledly, his back unconsciously bending down a little.

"You haven't slept well recently?"

Xie Jingxing stretched out his hand and pushed the paper towel in front of him across the smooth tabletop: "After discussing this matter, you still remember to collect all the information. Your negotiation team is not bad. They are professional, tenacious and strong."

"You won. I had no intention of showing up, nor was I prepared to be forced to hand over my super voting rights," he said to himself.

Prince Wang took out a tissue and blew his nose vigorously. The weather in Shanghai was cold and gloomy, and he caught a cold.

Xie Jing Xing shook his head slightly: "Aren't you going to say anything? If you want to fight to the death, you shouldn't sit here, right?"

"Why fight to the death when you can win?"

Young Master Wang frowned in confusion. If Xiyou earned less expected future profits, he would lose more current profits. It would be too incompetent and angry to be in a lose-lose situation like this.

He's just incompetent, not stupid.

In other words, hatred has reached a higher dimension, and losing together is far from enough to vent the anger, you have to win!

"Qu Dejun said that your bottom line is to take ten times the profit and walk away, leaving the mess to me."

Prince Wang paused for a moment and said firmly, "I don't think so. You have high expectations for Panda TV. When we first talked about the girl group talent show, you responded very positively."

"..."

Xie Jingxing was speechless. It was true. When they first talked about the girl group audition that night, he offered 1 million yuan for investment with Pony. No one would believe him if he said he had no expectations.

"Girl group talent shows, PUGC content, I guess you didn't think about these things when you first encouraged me to start Panda TV. So you're right when you say that the conflict between us is inevitable. You just wanted to use me to ignite the online live broadcast market. Douyu is the real option for your pan-entertainment strategy."

Prince Wang became more and more confident as he spoke: "After I made the PUGC plan, you passively changed your strategy and paid more attention to Panda TV, hoping to seize control."

"No, I invested 1 million in a girl group variety show to deal with public opinion crisis PR. I sincerely hope to do a good job on Panda TV. But you found Qihoo 360, which was hot for only three minutes and forced me to withdraw my shares. This is a natural contradiction between the two of us. We are not the same kind of people and cannot live together."

Xie Jingxing seriously refuted that the advantage of working with smart people is that you don’t have to care about the other person’s feelings. Obviously, Young Master Wang is not capable of this, and this is the real problem between them.

At least that's what he thought.

"Oh, you see, I guessed right!"

Prince Wang supported himself with his arms and stood up. "You have high expectations for Panda TV, and so do I. And you are a smart person. No matter how much you hate me, you will always put profit first. But I can't do that. So, under the premise that neither of us intends to perish together, who is more likely to give in?"

"No...you, how long did it take you to come up with this line of speech?"

Xie Jingxing was stunned and blinked blankly. It was true that setbacks made people grow up. They had learned how to be cautious and use tricks to engage in psychological warfare.

Prince Wang’s expression remained unchanged. “Before you came in this morning, how about you apologize to me now? Then we can talk about what I should do to make you willing to give up your super voting rights.”

"What is this, a medieval duel of honor, betting that my gun has no bullets?"

Xie Jingxing didn't like the feeling of being looked down upon, so he pushed the chair away and stood up.

Prince Wang couldn't help but laugh: "Whatever you think."

"What you should do now is to find a professional manager who can understand and implement our PUGC pan-entertainment strategy, get Zhang Juyuan out, and stop the internal friction among the management."

Xie Jingxing sighed: "It's the same for us. Internal friction is wrong. You hand over the control, hold the shares and wait for appreciation to make a lot of money. This is good for everyone."

"Then you fight Qihoo 360, and I will leave and start a new one." Prince Wang said without hesitation.

"Brother, stop talking nonsense. As the old saying goes, all roads lead to Rome, but the Rome of reincarnation and the Rome of entrepreneurship are not the same thing."

Xie Jingxing pointed to his feet: "No matter what method, sooner or later, which road, I will stand at the end of your entrepreneurial journey, I will stand here!"

"If you really want to hear an apology, I can say it 10,000 times, but it won't mean anything."

He walked closer and patted Prince Wang on the shoulder: "You have a lot of problems, but your vision for entertainment is pretty good. The reason I want to talk to you alone is to tell you that time waits for no one. The market is fair. It won't stop there and wait for you just because you can go home and call me daddy."

"Now, step down as CEO and chairman, and then watch carefully while I take you to Rome."

…………

【Principal Wang resigns as CEO】

【Principal Wang resigns as chairman】

[Internal fighting at Panda TV]

On January 1, three terms topped the Weibo hot search list. The live broadcast platform created by two super rich second-generations with their own traffic has never lacked public enthusiasm, and the general public just watches it for fun.

However, people in the venture capital circle noticed something unusual. The founder of the absolute controlling shareholder resigned from the positions of chairman and CEO without any warning, which was enough to cause an earthquake within the company.

Internal fighting, to what extent will it go? I'm afraid that if they are already fighting offline, someone will commit a bloody crime tomorrow and put a gun to your head.

"The effect has been achieved. Don't push too hard. We have time to talk slowly." Mr. Qu sorted out the documents and gave instructions on the follow-up operations. Wanda Group had just been listed on the Hong Kong stock market. He couldn't always stay here to clean up the mess for the young master. Jin Xiu was responsible for discussing the rest.

Grapefruit successfully emerged by using its super voting rights to dismantle the negative public opinion about the founder of the absolute controlling shareholder. For such a company, any startup company that is sensible would have to think carefully before accepting its investment.

This is one of the few cards they can actively play out. They may try it out first and create some plausible rumors to create pressure, but they cannot throw all of them out at once.

"The main thing is to use the veto power. Our veto power is valid for all major matters. Be flexible and don't focus on financing."

Mr. Qu was still worried and said in detail: "For example, the normal selection of senior executives requires a half-vote of the board of directors, so we use the veto power to slightly block it. In this regard, our interests are not completely aligned with Qihoo 360, so you have to analyze the specific case."

"I see."

Jin Xiu nodded awkwardly in response.

The core use of the veto power held by Banana Entertainment is to veto the next round of financing before Grapefruit Capital hands over its super voting rights to prevent it from automatically triggering the AB super voting rights that contain a sunset clause.

The specific usage remains the same no matter how it is used.

The main point of negotiation now is the amendment of the charter of the board of directors and the charter of the shareholders' meeting. This is a very cumbersome game process. Grapefruit means that Banana Entertainment is the major shareholder after all. According to the normal charter of the board of directors, the latter has absolute right to nominate directors.

Even if the super voting rights are abolished in the future, Banana Entertainment will still be able to rely on its majority of board seats to force Grapefruit Capital out at any time and anywhere by doing the same thing as today.

Therefore, Grapefruit requires that the mechanism for producing board seats in the future be constrained. In simple terms, the establishment of a new board of directors must be approved by Grapefruit, and the selection of directors must be approved by two-thirds of the directors, and shareholder voting rights will not be the main factor.

Banana Entertainment is naturally unwilling to do this. If this were to happen, they would suffer huge losses in the future on the board of directors until their shareholdings are naturally diluted to the point where they no longer have control.

Every time the two sides have been arguing with each other and trying to come up with some weird clauses in the hope of gaining an advantage, the legal team has to stay up all night trying to find legal basis and design rigorous clause language.

Digging holes and filling them up, the art of writing is fully utilized.

As Mr. Qu and Jin Xiu were talking, the office door was pushed open and Prince Wang walked in briskly: "The company wants to sign a cooperation agreement. Would you like to take a look at it together?"

"Well, Mr. Qu's flight for the afternoon is not on time, so I'll go." Jin Xiu explained on his behalf.

Prince Wang nodded slightly and said, "Mr. Qu, you have worked hard during this period. Let's meet again at Wanda's annual meeting in a few days."

"No problem, keep busy and feel free to contact me if you have any questions."

Mr. Qu smiled with satisfaction. Setbacks and sufferings themselves are not worthy of being praised, but sometimes the impact they cause is positive.

On the first day of the negotiations, Xiao Wang confirmed from Xie Jingxing in person that Panda TV's strategy of targeting PUGC professional content production and pan-entertainment was correct, and after being provoked by such an undisguised and blatant method, he completely calmed down.

Now he does not have a formal position, but he comes to the company on time every day to punch in and work on specific business as the founder. He is content and does not care about the strange looks from his employees.

That's right. Considering the decades of hard work that Lao Wang has gone through in starting his business, what happened to Panda TV is nothing.

The outcome is still undecided. As long as Grapefruit's super voting rights are taken away, the outcome is still uncertain.

"What kind of cooperative business is this?" Mr. Qu asked casually after packing up his things with full of emotion.

Prince Wang took the initiative to open the door for him: "In the field of online education, providing live course services for colleges and universities."

“How can colleges and universities provide K12 education?” Mr. Qu was puzzled.

Prince Wang explained in detail: "We provide third-party live online course software services for ToB universities and primary and secondary schools, which are service providers for enterprise video conferencing software, as well as some corporate education propaganda business."

"This project is with Jiaotong University... When was this project discussed? Did Xiyou help with the negotiation?"

Mr. Qu's voice became shrill, and Jin Xiu vaguely sensed that something was wrong, but couldn't tell what it was.

"Yes, this project was proposed when Xie Jingxing and I were in a public opinion crisis. There happened to be a Net Cleaning Campaign, and he proposed to do some positive business. At first, he just wanted to help poor primary and secondary schools in mountainous areas to provide online live classes for key middle schools. As we talked, the business model of the whole project turned out to be not bad." Young Master Wang looked at it rationally, and there was no hostility towards Xie Jingxing in his words.

Mr. Qu clenched his teeth, almost unable to catch his breath, and cursed slowly with trembling lips: "You are paralyzed."

"Mr. Qu, Mr. Qu, what's wrong with you?"

"I'm fine. I just feel a little dizzy due to high blood pressure. I'll be fine after a while."

Mr. Qu leaned against the wall with his head down. After a few minutes, he said weakly, "Please help me refund the ticket."

"Don't worry about the plane ticket, let's take you to the hospital first." Prince Wang took out his cell phone.

President Qu used all his strength to grab his wrist tightly and said, "Let's go to the signing site."

"Mr. Qu, is there any problem with this project?" Jin Xiu read the man's expression carefully.

President Qu glared at her fiercely and said, "If a company directly managed by a Beijing government department wants to invest in Panda TV, can you veto it?"

“…This cooperation project should have been signed after the Lunar New Year.”

Prince Wang's face turned pale as he spoke something. There was dead silence, no one responded. He felt a little dizzy, the road in front of him was distorted and unclear, and his body went limp and he fell to the ground.

"Boss Wang, Boss Wang!"

Screams were heard, and the sky was filled with crystal snowflakes, which fell to the ground and covered the road in white.

(End of this chapter)