"!!!"
Yuan Hui's eyes widened, and he suddenly stood up:
"55.5%, you have completely taken a controlling stake in Xiao i Robot!"
"That's right."
Wang Yi smiled slightly.
Sure enough, this Yuan Hui guy was an old schemer!
He only wanted to use Wang Yi's funds and resources to get through the current difficulties, expand Xiao i Robot, and yet didn't want Wang Yi to have a controlling stake!
How could there be such a good deal?
Wang Yi was a businessman, not a saint!
Fortunately, Wang Yi had prepared early and dealt with them individually; otherwise, he would only have been used as a tool by Yuan Hui!
"You..."
Yuan Hui was furious, momentarily unsure whether to curse Wang Yi or the two shareholders.
He was sold without receiving any notice!
Unbelievable!
Moreover, everything complied with the articles of association, with no issues.
For a limited liability company to sell shares, other shareholders must be notified, and the consent of over half of the shareholders must be obtained.
However, for a joint-stock company, shares can be sold without notifying other shareholders.
Furthermore, to go public, a company must be a joint-stock company.
As for limited liability companies, if they want to go public, they also need to be restructured into joint-stock companies.
Therefore, many companies aiming for an IPO are mostly joint-stock companies.
Xiao i Robot was one such case.
Wang Yi efficiently acquired the shares of the two major shareholders, completely taking control of Xiao i Robot, without any issues.
Seeing Yuan Hui's anxious expression, Wang Yi smiled faintly:
"Don't worry, sit down. Now you can seriously consider whether you're willing to sell all the shares you hold to me."
Currently, Xiao i Robot was just starting.
Once acquired, Wang Yi would, like Apple, have to invest billions, even tens of billions, over several years to develop AI algorithms and build databases...
These were endless money pits, and it would be difficult to get sufficient returns in the short term.
If Wang Yi invested tens of billions in R&D funds for a large stake, and Yuan Hui, contributing nothing, also held a large stake, essentially getting billions or tens of billions for free, was that possible? Was it fair?
Even a saint wouldn't do that!
For a money-burning giant like Xiao i Robot, Wang Yi had to acquire it completely!
It wasn't that Wang Yi was being greedy; it was about effort and reward being proportional, and value matching!
In its previous life, Xiao i Robot, even with capital injections from Ali and others, didn't develop particularly well, indicating that Yuan Hui's capabilities were average, and less valuable than the AI algorithm experts Wang Yi recruited.
If Wang Yi were to distribute shares later, they would have to go to giants and capital institutions that matched Wang Yi's strength, capable of investing tens of billions in R&D, forming strong alliances.
Or to world-leading algorithm experts, algorithm titans capable of advancing AI progress single-handedly!
Only such high-caliber individuals would be worth Wang Yi distributing shares to.
Clearly, Yuan Hui was nowhere near that level, falling far short.
Similarly, the same applied to Xingyi Technology.
It wasn't that Wang Yi was unwilling to share shares; it was that the current senior management's value wasn't sufficient to warrant him giving them shares.
The prerequisite for distributing shares must be a match in value, resources, and capital!
For instance, several major shareholders of Xiaomi Technology, the co-founders who shared shares with Lei Bus, were either capital institutions that invested heavily in funds and resources to co-found Xiaomi at its inception, or former Microsoft and Google president-level executives!
For example, Morningside Ventures, DST, and Qiming Venture Partners were all major investors, exchanging real money for shares!
And Li Bin, who held about 13% of the shares, not only invested capital but was also a former Microsoft executive and a former Google director!
Even Kai-Fu Lee personally invited him out of retirement multiple times to serve as a senior executive.
Another example is Old Li, Design Director of Kingsoft Software Design Center, Internet Content Director, General Manager of Kingsoft PowerWord, a typical tech guru and Lei Bus's confidant, who only received about 3% of the shares.
The same applied to another co-founder, Huang Jiang, a Microsoft executive for 14 years and a tech guru responsible for Microsoft's mobile phone business.
Lei Bus valued their abilities, which is why he gave them shares.
As for others, even if they had followed Lei Bus since Kingsoft, loyal and dedicated, if they lacked sufficient capability, Lei Bus wouldn't give them a single share.
Out of so many people at Kingsoft, only Old Li, who was a director, a confidant, and the most capable, received Xiaomi shares.
For everyone else, it was out of the question.
Something as important as shares could not be distributed without sufficient value matching.
Clearly, Xingyi Technology's current senior management had not reached this level!
Most were rookies, promoted and heavily relied upon by Wang Yi, and the high salaries, positions, and career development they currently received already far exceeded their value!
For example, Chen Chuanqing was just a small assistant at Vancl, with an annual salary of 70,000.
Coming to Meiyou Technology, he became Vice President of Meiyou Group and President of the E-commerce Department, with an annual salary starting from 500,000 in the first year, which was quite good!
Giving him Meiyou shares on top of that? That was unrealistic.
Then there was Zhu Changlin, who was just a hardware engineer and acting project manager at HTC, not even a proper manager, with an annual salary of 100,000.
Coming to Xingyi Technology, he became Vice President of Xingyi Mobile, with an annual salary also starting from 500,000 in the first year, which was very good.
Giving him Xingyi Technology shares on top of that?
That would be a joke.
After all, when Xingyi Technology was founded, Zhu Changlin didn't invest heavily, nor was he Li Bin, a former director at Microsoft or Google, and he didn't make significant contributions.
What Zhu Changlin could do, others could also do, or even do better.
Zhu Changlin, Chen Chuanqing, and others becoming core senior executives at Xingyi Technology and Meiyou Technology and receiving their current high salaries already exceeded their capabilities; asking for shares on top of that was unrealistic.
To put it plainly, it wasn't that Wang Yi was being greedy and unwilling to share shares; it was that the other party's capabilities didn't match the value of Xingyi Technology's shares!
As Xingyi Technology grew rapidly, to advance further in the future, it would need to attract more international experts in cutting-edge fields, and even capital giants, forming powerful alliances.
Only such entities could be considered for some shares or options.
For example, developing AI algorithms was a bottomless money pit.
Wang Yi invested 3 billion, and three years later, Xiao i Robot became an industry leader.
Then, by introducing Tencent, giving Tencent a 20% stake in Xiao i Robot, Tencent could invest 10 billion in R&D funds into Xiao i Robot!
This was the true meaning of distributing shares: powerful alliances to grow stronger and larger.
But giving 20% of the shares to Yuan Hui would be meaningless.
After all, Yuan Hui's capabilities weren't particularly outstanding, even inferior to Li Wei's.
Of course, Li Wei could only be considered a talent, not an expert.
The subsequent development of Xiao i Robot would require hundreds of talents like Yuan Hui and Li Wei; Wang Yi couldn't possibly distribute shares to all of them.
Unless someone surpassed Yuan Hui and Li Wei, reaching a global top tier, where one person was worth a thousand Yuan Huis and Li Weis, only then would their existence be worth Wang Yi offering shares to recruit them.
Good steel should be used on the blade.
Shares were good steel, and Wang Yi wasn't short on money, so there was no need to sell them cheaply, let alone blindly distribute them.
As for not distributing shares leading to senior executives slacking off or being unmotivated... this was completely overthinking it; performance appraisals weren't just talk.
There were many capable people, but companies with salaries as high as Xingyi Technology were rare.
Any senior executive whose performance wasn't outstanding or who couldn't keep up with the company's development would face a salary cut, demotion, or even be fired.
After firing one executive, a hundred more capable executives would immediately line up to apply, eager to jump to Xingyi Technology, even for half the salary!
The future was an era where unemployment could strike at any moment!
With the high compensation Wang Yi provided to Xingyi Technology's executives, no one would be foolish enough to not cherish the opportunity, slack off, and get eliminated.
On the contrary, they would work intensely, fearing that their performance wouldn't be outstanding enough, leading to salary cuts, demotions, or even layoffs.
The same applied to ordinary employees.
At Xingyi Technology, there were strict and fair professional title levels and promotion channels.
Everything was based on performance and ability; the capable were promoted, the mediocre demoted.
As long as ordinary employees' performance was outstanding, they could be promoted step-by-step, receive raises, and advance to management.
Similarly, if management didn't work hard, they would be replaced by their subordinates.
As Xingyi Technology developed to this point, its organizational structure grew larger, and a wolf culture, similar to Huawei's, became indispensable.
Wang Yi motivated employees with industry-leading high salaries + fair, just, and transparent promotion channels + performance appraisals!
In reality, few companies directly distributed shares to employees; most converted a portion of employees' salaries into stock options.
These options were relatively friendly before an IPO; one might even make a profit.
But after an IPO, they were likely to be a trap.
Often, when they were granted, the stock price was high, seemingly worth three million.
By the time employees wanted to cash out their options, the stock price would be low, the options only worth one million, and they would be subject to various restrictions, making them impossible to redeem.
Haven't you seen the options of a certain major company that haven't been cashed out for nearly ten years? Forcing employees to fight for their rights...
The buyer is not as shrewd as the seller; employees are not as shrewd as the boss.
In fact, for workers, shares and options are abstract; the high salary they actually receive is real.
At Xingyi Technology, Wang Yi didn't play games; he directly invested money.
While competitors offered an annual salary of 200,000 + 300,000 worth of year-end stock options, Wang Yi directly gave a base salary of 200,000 + a 400,000 year-end bonus!
Compared to 300,000 in stock options that might not be obtainable for many years, the 400,000 year-end bonus received in the same year was more appealing.
Enough to motivate employees!
After completely acquiring Xiao i Robot, Wang Yi would also adopt Xingyi Technology's system, motivating employees with promotions, raises, and massive year-end bonuses!
There was no need to distribute shares.
As for Yuan Hui, he was even less worthy of Wang Yi giving him shares potentially worth tens of billions in the future.
He couldn't handle it!
"Don't worry, I'll give you a satisfactory price."
Wang Yi smiled slightly.
Yuan Hui was momentarily speechless: "..."
Wang Yi held 55.5% of the shares, not only making him the largest shareholder but also giving him complete control.
Now, Wang Yi called the shots at Xiao i Robot; he could even remove Yuan Hui as chairman with a single word.
"You..."
Yuan Hui's face flushed with anger, but he was still unwilling to give up.
He still wanted to hold a large number of shares, so that Wang Yi would invest tens of billions in R&D, making Xiao i Robot bigger and stronger, and he would get tens of billions for free!
Wang Yi said calmly:
"The AI field is a money pit, and there's currently no way to monetize it, so we can only keep burning money. Even if we burn tens of billions, we might still not find a way to monetize and ultimately fail! I can bear this cost, but what about you? Can you bear it?"
"I..."
Yuan Hui fell silent; he really couldn't bear it!
"Furthermore, even if it eventually succeeds, it would require tens of billions. Do you have that capital?"
"I don't..."
Yuan Hui's expression darkened.
"Director Yuan, listen to my advice: the AI field is too deep for you to grasp. Why not sell all your shares to me? I'll give you a high price!"
Wang Yi chuckled:
"With this money, you can either continue to start a new business or do anything else you wish."
"Hmph! What if I don't sell?"
Yuan Hui snorted, clearly intending to resist to the end.
Wang Yi said nonchalantly:
"Then we'll follow the rules. Xiao i Robot needs to develop and requires R&D funds. I will introduce Xingyi Technology as a new shareholder, increasing investment by hundreds of millions a year, as R&D expenses. And if you don't have enough funds to follow up with investments, your shares will be continuously diluted, becoming less and less."
"Furthermore, with high R&D investment but no monetization channels, it's losing money every year. Your shares won't be able to pay dividends."
"After five or six years, perhaps a monetization method will be found, and after seven or eight years, perhaps it will start to be profitable. But by then, how many shares will you have left?"
Yuan Hui sank into silence: "..."
Once Wang Yi took control and had enough capital for additional investment, Yuan Hui would be completely out of luck.
"Alright, I'll sell!"
Yuan Hui sighed, having no choice but to sell his shares.
"That's wise. As I said before, I will still give you a suitable price. A valuation of 30 million!"
Wang Yi said.
"30 million is too little, 50 million!"
Yuan Hui said.
Wang Yi waved his hand:
"Let's compromise at 40 million."
"Deal!"
Yuan Hui agreed.
Both parties signed the contract, and Yuan Hui transferred all 44.5% of his shares to Wang Yi for 17.8 million.
At this point, Wang Yi achieved 100% control of Xiao i Robot.
Of course, all of Xiao i Robot's patents, intellectual property, and debts also belonged to Wang Yi.
That's right, Xiao i Robot currently had tens of millions in debt, and employee salaries had been delayed for several months...
As for heavily relying on Yuan Hui?
Wang Yi was no longer considering it.
When Yuan Hui only wanted to use Wang Yi's funds and resources to get through the crisis but didn't want Wang Yi to have a controlling stake, he cut off his own future of being heavily relied upon.
Instead, Wang Yi would keep and heavily utilize the sensible Li Wei.
Yuan Hui and Li Wei co-founded Xiao i Robot, both with technical backgrounds.
Ultimately, Li Wei was ousted by Yuan Hui, and the two went to court multiple times.
What exactly happened in their previous life, outsiders had no way of knowing.
But it always felt like Yuan Hui could share hardships but struggled to share wealth.
Also, after Ali's investment, there were no large-scale follow-up investments, likely because Yuan Hui controlled Xiao i Robot and didn't want his shares diluted or Ali to take control.
Since Ali couldn't gain a controlling stake, it naturally wasn't willing to invest more.
This led to the unsatisfactory development of Xiao i Robot in its previous life.
Of course, Wang Yi would also transfer the algorithm experts recruited by Jian Ziyan to Xiao i Robot.
After the signing was complete, Yuan Hui packed his belongings and left the office with a complex expression.
Wang Yi said nothing; in his hands, Xiao i Robot would develop better and become more brilliant!
Witnessing this scene, all the employees were bewildered, unable to comprehend that the chairman had actually resigned!
Unfathomable.
Li Wei stepped forward and smiled:
"Just today, Director Wang, Chairman of Xingyi Technology, fully acquired Xiao i Robot. From now on, our Xiao i Robot will be a subsidiary of Xingyi Technology. Everyone, please welcome Director Wang."
A wave of sound!
After a brief silence, thunderous sounds erupted:
"Director Wang has become our new boss, so will all our overdue salaries and bonuses be paid?"
"Certainly. Director Wang has a big business; he wouldn't withhold our money."
"Your perspective is too narrow. Acquired by Director Wang, Xiao i Robot will no longer lack funds, and its future is limitless!"
"Exactly. AI voice chat software requires algorithms and is very capital-intensive. Director Yuan didn't have the strength and didn't want to be controlled, which restricted the development of Xiao i Robot."
"Indeed, AI is such a money pit; only a big shot like Director Wang can afford to play in it."
"Welcome, Director Wang, we're ushering in a new era!"
"Director Wang is mighty! Xiao i Robot's future is boundless!"
"Damn it, good thing I didn't resign. That was a close call; I almost missed out on this immense fortune."
"Only by following Director Wang can we develop. I fully support and endorse this!"
...
Listening to these words, Yuan Hui's expression became extremely complex.
He never imagined that in the eyes of the employees, he was such a figure, one who actually hindered the development of Xiao i Robot.
In reality, that was exactly the case.
Rejecting a giant's controlling stake meant the giant wouldn't invest heavily, and without investment, there would be no development.
These were self-evident truths.
Conversely, to achieve development, one had to be willing to relinquish control.
In its previous life, Meizu was actually the same.
If it had accepted capital investment in 2011 and rapidly developed and grown stronger with the power of capital, where would Xiaomi have been?
By 2015, Meizu had been surpassed by various latecomers, and by the time it accepted Ali's investment, it was already too late.
Similarly, the same applied to Xiao i Robot.
However, now that it was acquired by Wang Yi, it was no longer an issue at all.
Wang Yi raised his hand, signaling everyone to quiet down:
"Starting today, Xiao i Robot will be integrated into Xingyi Technology and undergo a complete transformation."
"First, the parent company will allocate 100 million in funds for company expansion. All overdue employee salaries, bonuses, and so on, will be paid in full!"
"Director Wang is mighty!"
Everyone was excited; the overdue salaries finally had a resolution!
"Secondly, Xiao i Robot will undergo departmental adjustments, dividing into two major business units: C-side and B-side."
"The C-side will remain free for consumers, with continuous investment in R&D to make Xiao i Robot smarter and more intelligent. At the same time, it will be integrated into Xingyi Mobile, becoming Xingyi Mobile's AI voice assistant!"
Everyone nodded, fully understanding that this was the reason Wang Yi acquired Xiao i Robot.
Just like Apple acquired Siri, it was also to integrate it into phones.
Wang Yi continued:
"C-side employees' salaries will not be increased for now."
Hearing this, everyone was a bit disappointed, having thought that a change in chairman would bring a 10% raise.
"However, there will be a year-end bonus incentive. If Xiao i Robot can be successfully integrated into the Xphone 1 and function normally before the end of this month, everyone will receive an additional three months' salary as a year-end bonus! If it can't be done, then there will be none."
Hearing this, everyone became excited:
"Working for one month, and getting an extra three months' salary as a year-end bonus? Wouldn't that mean receiving four months' salary at once next month?"
"Oh my god, that would be amazing."
"As expected of Director Wang, so generous! An extra three months' salary, we must get this done!"
"That's right, if anyone doesn't work hard and prevents me from getting the bonus, they're my enemy. From today onwards, everyone work overtime!"
"Yes, full sprint! Must be done before the end of the month!"
"If completed by the end of the month, we'll get four months' salary all at once on January 28th. That's fantastic."
...
Listening to the excited chatter, Wang Yi frowned slightly:
"You only get paid on the 28th?"
Li Wei nodded:
"The company's income couldn't cover its expenses; it had been behind on payments, only able to issue some on the 28th of each month..."
Wang Yi: "..."
"That won't do. How about this: from now on, just like Xingyi Technology, salaries will be paid on the 8th of each month. If it's a holiday, they'll be paid in advance!"
"This... Thank you, Chairman!" Li Wei beamed.
The others were even more excited:
"Paid on the 8th? Even major BAT companies aren't that prompt, are they?"
"As expected of Director Wang. No wonder they say Xingyi Technology's benefits are even better than BAT's; turns out salaries are paid earlier too."
"This is great, moving from the 28th to the 8th. Luckily, I didn't resign and waited for Director Wang."
"Alas, those colleagues who resigned are unlucky. If only they had held on for two more months, Director Wang would have arrived."
"No choice, with salaries delayed for four or five consecutive months, no one could bear it. Everyone has elderly parents above and young children below."
...
Listening to everyone's words, Wang Yi sighed:
"For the previously overdue salaries, the finance department will immediately tally them, report them, and coordinate with the parent company. Funds will reach the company's account this afternoon, and then be disbursed to everyone."
"Also, for employees who have already resigned, Xiao i Robot apologizes to everyone; all overdue salaries will also be paid in full, even if they have left."
"Furthermore, we are launching a 'Return Home Program.' Employees who left previously, as long as their conduct is fine and their professional abilities are up to par, can return. They will be treated equally!"
"Thank you, Director Wang!"
"Thanks!"
"Now, our brothers who left are probably all coming back."
"This is truly good. I'll notify them right away..."
For a moment, everyone was overjoyed.
They just felt that following Wang Yi was too comfortable.
Although the base salary hadn't changed, the performance bonus was too high.
A three-month salary bonus right from the start was incredibly exciting.
Getting paid on the 8th, overdue salaries for resigned employees being paid as usual, the "Return Home Program"... all were very humane.
Anyone who has worked would understand that not being laid off by a major company was something to be grateful for.
Such good treatment as Wang Yi offered was truly unimaginable.
Wang Yi continued:
"This month's C-side business is for Xiao i Robot to adapt to the Xphone 1. As for the person in charge, I will transfer someone from Xingyi Technology to lead it, and arrange a team of Xingyi Mobile business unit technicians to jointly advance the adaptation work."
"And the remaining B-side business will be our focus for profitability!"
Hearing this, everyone became interested.
The most awkward thing about Xiao i Robot currently was that it had over 100 million users but no way to monetize them!
It was too awkward.
Even becoming Xphone 1's AI voice assistant wouldn't allow for monetization.
The parent company's business also had no revenue.
At most, the parent company would allocate funds to Xiao i Robot for R&D and operations, and Xiao i Robot would help the parent company enhance phone competitiveness and boost sales.
But in terms of profitability, there was no discussion.
But listening to Wang Yi, did he mean he had found a direction for profitability?
Li Wei was excited:
"Chairman, have you really found a way to monetize Xiao i Robot?"
Wang Yi nodded:
"Of course, that is to focus on the B-side! Provide AI customer service to companies like China Unicom, China Telecom, China Mobile, major banks, and e-commerce platforms, helping them handle user inquiries and earning service fees!"
This market also had a bright future!
"???"
Li Wei was stunned, then his face lit up:
"Great idea! Serving individual C-side customers, we can't monetize them, so there's no revenue. Getting users to sign up for VIP memberships is unrealistic. But by turning to the B-side and providing services to those businesses, allowing them to save over half of their manual customer service expenses, they will naturally be willing to purchase our AI customer service! That way, we can become profitable! Brilliant!"
The others also nodded, highly excited:
"Director Wang is brilliant; we hadn't thought of this."
"Exactly. Currently, China Unicom, China Mobile, China Telecom, major banks, and e-commerce platforms are all facing an overwhelming number of user inquiries that they can't handle. Substantially increasing human customer service leads to high costs, which is precisely our Xiao i Robot's opportunity!"
"This really isn't difficult; we just need to create a system, integrate our Xiao i Robot, and then interface and adapt it for B-side clients."
"It wasn't easy, but we've finally found a profit point."
...
"From now on, Li Wei will be the President of Xiao i Robot's B-side Business Unit!"
Wang Yi looked at Li Wei:
"President Li, next, you'll need to recruit. Besides developing AI customer service software, you'll also need to hire business personnel familiar with telecom operators and banks. They will develop B-side clients and promote our AI customer service."
Li Wei smiled:
"Don't worry, Director Wang, we've had previous collaborations with the three major telecom operators, so we have some connections; it won't be a big problem."
"Very good. Then your B-side Business Unit should start B-side operations as soon as possible. E-commerce AI customer service can also be prioritized. Once developed, integrate it into Meiyou Mall for testing and optimization. After it's perfected, other e-commerce platforms like Taobao and JD.com will also be our clients!"
"Understood, Director Wang, we will give our all."
Wang Yi changed the subject:
"Similarly, the B-side Business Unit's monthly performance and year-end bonus will be tied to revenue. Higher revenue means higher performance for you. If revenue explodes, you might even get ten months' worth of year-end bonus! Of course, if revenue is low, everyone will 'drink the northwest wind' (i.e., starve)."
"Director Wang, don't worry, we will give our all!"
Everyone spoke up, full of fighting spirit.
Just for the ten-month year-end bonus and performance, they had to fight hard!
Wang Yi nodded in satisfaction; this mobilization was very successful!
Nothing was more enticing than high bonuses.
For many companies, the monthly salary might only be 10,000, but those with outstanding performance could receive year-end bonuses of 500,000, or even millions!
With such a high year-end bonus, who wouldn't work their hearts out?
Watching everyone busy themselves, Wang Yi returned to his office with satisfaction.
The rest was left to Li Wei to handle, which was a good opportunity to observe his capabilities.
At this moment, Wang Yi received a call from Ye Changpeng:
"Chairman, we spoke with Tangren again today. We offered 10 million, but Shopkeeper Cai is still unwilling to transfer Hu Xiaoyao, demanding 15 million."
"Heh heh, this woman is truly greedy. Stop negotiating, come back."
Wang Yi was quite speechless.
"Just give up like that?"
Ye Changpeng was a bit unwilling.
"Give up?"
Wang Yi chuckled:
"You come back first. Later, that person surnamed Cai will come looking for us!"
(End of Chapter)