Chapter 44. Investing in Ali, the Mother-in-Law Personally Cos for Su Qingyan
Teacher Ma found Li Mo… truly inscrutable.
After receiving SoftBank’s investnt proposal, he hadn’t given a direct reply. Instead, he ca to Li Mo to negotiate terms. After all… for the sa amount of equity, he wanted to secure more funding. Right now, with Ali… he was absolutely confident it would succeed.
But… the reaction of the “Five Tigers” (core team) had completely caught him off guard. For a mont… he didn’t know how to continue.
“SoftBank’s strength…”
“I’m well aware of it.”
“As a top-tier investnt firm in Japan, their capabilities are undeniable.”
After a long pause… Li Mo finally spoke slowly.
Ma Xiaoyun let out a sigh of relief. He had been worried Li Mo might back out.
In reality… he wanted both Li Mo and Masayoshi Son to invest, with each competing to drive up the valuation. That way, his own gains would be maximized.
“I suspect SoftBank wants more than just 30% equity, right?”
Teacher Ma fell silent… This Mr. Mo… really knew everything. Every move was within his expectations! He even wondered if Li Mo had been eavesdropping during his talks with Son.
“You’re right…”
“Mr. Mo, your foresight is uncanny.”
“That’s exactly how it is with SoftBank’s investnt proposal.”
“Earlier… they wanted to take 49% equity.”
The Five Tigers stared at Li Mo… growing even more astonished. A shrewd negotiator like Teacher Ma… was being completely led by the nose in this discussion.
“For soone like Teacher Ma, that’s unacceptable.”
“I understand—you’d rather let Ali collapse than surrender control.”
“That’s why I said you’d never willingly submit to others.”
“So companies lost control after going public because their equity was diluted too much.”
“Their boards were taken over.”
“You’d never allow that.”
Teacher Ma could only smile bitterly. He felt completely outmatched in this negotiation. Every move he made… was anticipated. Even his innermost thoughts… were laid bare.
“Mr. Mo, dealing with soone as sharp as you…”
“isn’t easy.”
For once, Teacher Ma was genuinely impressed. But… he wouldn’t give up his iron grip on Ali.
“Mr. Mo.”
“I’ve spoken with Masayoshi Son.”
“At first, 49% was too much.”
“Later, we settled on 30%.”
“But the board strongly opposed it.”
“Even 30% would threaten our control.”
“Especially Cai Chongxin—he’s the most against selling too much equity.”
“Right now, he’s in Hong Kong looking for alternative investors.”
“Many want to invest in Ali…”
“but I’d prefer it to be you.”
Teacher Ma recognized Li Mo’s brilliance. The stock market incident… the land deal… both proved how formidable Li Mo was. With him as a shareholder, he could seek his advice regularly. Ali would grow faster. But he also didn’t want Li Mo holding too much equity. Otherwise… one day, Li Mo might push him out. Cai Chongxin feared the sa— which was why he was seeking other investors.
“Mr. Mo…”
“I know you believe in Ali’s potential.”
“That’s why I’m here.”
“I want to ask…”
“what price you’re willing to pay.”
Now that they were discussing numbers, Teacher Ma grew tense. Ali’s survival wasn’t at stake… but its future ownership structure was.
Ma Tengyun and the others listened intently, waiting to hear Li Mo’s offer.
But Li Mo wasn’t in a hurry.
“Teacher Ma…”
“First, tell …”
“what’s the maximum equity you’re willing to sell?”
“You’ve already delegated so to smaller investnt firms, right?”
He threw the question back. After a long silence, Teacher Ma answered:
“We can offer 20%.”
“SoftBank’s bid is $20 million USD.”
“At current exchange rates, that’s 160 million RMB.”
Ma Tengyun and the others gasped. If Ali were fully sold now, it’d be worth 700 million RMB? Compared to Ali, QQ was still tiny. If QQ didn’t find new revenue streams soon, its valuation wouldn’t rise much.
“160 million for 20%…”
“That’s reasonable.”
Li Mo knew the future returns would be staggering. At its peak, Ali’s market cap would hit 10 trillion RMB. A 20% stake then? 2 trillion RMB. A 10,000x return.
“Teacher Ma, I want 30%.”
“Is that possible?”
“We can sign an agreent.”
“I’ll delegate all my board voting rights to you.”
“For fifty years.”
“If I sell shares, you’ll have proxy authority at market price.”
Li Mo understood now— Teacher Ma could not be controlled. He’d always insist on being CEO. He’d never take orders. But Li Mo didn’t care. As long as he got equity, he had no interest in Ali’s operations. His passion was QQ.
“This…”
Teacher Ma was tempted. If Li Mo handed over voting rights, he’d still have absolute control. He’d get the money… without losing power. Plus, with proxy selling rights, he could choose buyers who’d support him— or buy back the shares himself.
“Mr. Mo, let call Cai Chongxin.”
Li Mo nodded.
Teacher Ma left the room.
Once he was gone, Ma Tengyun asked urgently:
“Mr. Mo, isn’t Ali’s valuation too high? Is this investnt worth it?”
Li Mo sipped his wine calmly.
“Tengyun, mark my words.”
“Ali’s future is limitless.”
“I’m seizing this chance to buy in early.”
“Founding shares don’t co cheap.”
Soon, Teacher Ma returned.
“Mr. Mo, I’ve spoken with Cai Chongxin and the board.”
“They’ve agreed to sell 24%.”
“That’s the absolute maximum.”
“What price are you offering?”
He still wasn’t ready to close the deal. With SoftBank in the picture, he could play them against each other. But deep down… he preferred Li Mo’s terms.
“SoftBank offered 160 million for 20%.”
“Here’s my bid—”
“250 million RMB for 24%.”
This was the optimal offer from Li Mo’s intel. The extra cash would help Ali grow faster. Teacher Ma’s leadership was unquestionable— even if he made mistakes, they wouldn’t derail the company.
Most importantly… this price would make Teacher Ma say yes imdiately. No hesitation. No drawn-out bidding war with SoftBank.
The mont Li Mo nad the figure— Teacher Ma lost his composure.
“Mr. Mo… are you serious?”
He never dread… Li Mo would pay 90 million RMB more just for an extra 4% stake. The premium was insane!
“Absolutely.”
“If you agree, Tengyun will draft the contract now.”
Teacher Ma didn’t hesitate. He didn’t even call SoftBank to counter. He knew Son would never match these terms. Li Mo’s investnt style? Four words:
“Money to burn.”
“Deal!”
“Tengyun, get the paperwork ready.”
“From today, Mr. Mo is Ali’s shareholder!”
“QQ and Ali—brother companies!”
Ma Tengyun rushed out to finalize the contract. The mood was jubilant.
anwhile…
On a train to Shenzhen… A strikingly beautiful woman sat waiting, having politely turned away several n trying to chat her up.
This was Li Mo’s mother-in-law, Liu Pingping.
She had decided to go to Shenzhen personally— to find out exactly what Su Qingyan was doing, and who this boyfriend of hers really was!
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