Reborn 92's Business Tycoon - Chapter 624: Jin Ling’s Troubles

Chapter 624: Chapter 624: Jin Ling’s Troubles

Feng Yiping and Huang Jingping didn’t know at the time that they would never actually live in this house.

However, one thing they knew immediately was that their plan to go directly from Los Angeles to New York had fallen through. Jin Ling called to say that there was a company in Silicon Valley that was well worth acquiring.

Feng Yiping hurried back to the company in Silicon Valley. In the office, the three of them were already waiting for him. Mike’s face was filled with an uncontrollable excitement.

‘You recommend acquiring deCarta,’ Feng Yiping said, taking a look at the information. “San Jose, that’s convenient. Founded in 1996, does it also make maps?’

‘Not just a map company, they mainly provide technology for map companies. Yahoo is currently using their services,” Mike said, ‘Although the company is small, with only thirty-odd employees, it has strong technical capabilities and is a major patent holder,’

It turned out to be a technology provider.

Since Feng Yiping was going to get involved in this area, naturally he learned some relevant information.

Unlike the map websites in China that do everything themselves, in the map industry, the Americans also have a very clear supply chain. For example, deCarta provides map technology, NAVTEQ provides basic data, and Google then integrates this technology and content with its own search technology to create Google Maps and bring it to market.

In other words, companies like deCarta do not target end users, which is no wonder that Feng Yiping had never heard of them before.

‘We have looked into it and found that they can not only provide online maps, but are also developing map-based search technology for nearby hotspots, which is very suitable for use on our website,’ said Hong Haoran.

‘Their research and development plan is that in the future, you can plan your journey, for example, search for nearby places you want to go to, provide you with possible route options, and estimate the driving and walking time from where you are to your destination,’

This Feng Yiping knows, isn’t this the LBS that caused a huge row a year later? Later navigation, as well as mobile terminals, none of them can do without the support of this technology.

It really is a good choice!

‘What about being acquired? Do they have any intention of doing so?’

If they are doing well on their own and have no intention of being acquired, then no matter how good the prospects are, it’s all for nothing and has nothing to do with them.

‘As long as the price is right, I don’t think they have any reason to refuse,’ Mike saw a way out, ‘I have had a few contacts with their CEO,’

‘Okay, Mike, you contact them first and sound them out,’

In an era when Motorola and Nokia’s feature phones dominated the world, the scope of application of these technologies was very limited. It wasn’t until a few years later when Nokia launched the N95 that they could be used in simple applications on mobile phones.

No one could have known then that six or seven years later, when Apple’s Steve Jobs launched the iPhone and ushered in a new era of smartphones, these technologies would be used in a wide range of applications.

Therefore, when discussing the acquisition in the light of current factors, one can disregard the finer details. In the long term, this deal will definitely be a good one.

‘In addition, regarding NAVTEQ, the company achieved sales of 82 million US dollars last year, with a net profit of negative 110 million US dollars,’ Jin Ling said, holding a folder. “According to the financial reports for the first two quarters, their sales revenue this year has maintained a year-on-year growth of nearly 20%. Full-year sales are expected to exceed 100 million US dollars, but it is estimated that the company will still incur a loss for the whole year, conservatively estimated at more than 50 million US dollars,’

‘What is the main reason for their losses?” Feng Yiping asked.

‘They have invested too many resources in map creation. Their digital maps already cover dozens of countries on six continents. The initial investment was huge, so they are currently open to new investment,’

‘Roughly how much?’

‘We estimate that 10% of the shares will also require the same amount of capital, around 50 million US dollars,’

‘Then let’s do it simultaneously,’ Feng Yiping said with a heroic bang on the table, ‘and strive to get both,’

‘I’ll get in touch with Carter at deCarta right away,’ said Michael, who had proposed the acquisition, excitedly.

If the acquisition was successful, he would naturally be the first person to take the credit.

Jin Ling stayed behind, “I feel like I’m becoming less and less qualified for the position of president,” she said suddenly, a little dispirited.

Feng Yiping, who had been smiling and immersed in the thought of getting a bargain again, suddenly looked serious. ‘You say that? If you’re not up to the job, can you lead the company to develop at such a fast pace? If you’re not up to the job, can you keep everything in the company in such good order? If you’re not up to the job, can you maintain such good relationships with all sides of the company? If you’re not up to the job, can I be so carefree as I am now?’

Jin Ling didn’t smile. ‘It seems that I am becoming less and less proactive. I don’t even think about the related aspects of some of your ideas, and I don’t even have the ability to fill in the gaps. According to my original character, after hearing your idea of doing NEXTDOOR, I would think of things related to electronic maps, but I didn’t.

You said that if you invest in a map company, even Mike would think of it, and that you could acquire a related digital map technology provider, but I still didn’t,’

‘You mustn’t say things like that,’ Feng Yiping poured her a cup of coffee, “the responsibility is not yours, it’s mine,” he said seriously.

‘It’s not that you lack initiative or sensitivity, it’s just that you don’t have time to think about these things. I’ve given you too much to do, and just implementing what I’ve asked for requires you to work day and night. It’s all my fault!’ He tried to pat Jin Ling on the shoulder.

‘What? Taking advantage of the situation?’ Jin Ling’s eyes were a little red.

‘So, you don’t need to worry at all, don’t even need to think about it, you are still you, that strategic management talent with keen insight and outstanding vision, which is hard to come by,’

‘Really?’

‘Really really! How about this, I don’t think there is a need to make any major changes to the group’s personnel structure at the moment, but you should be given a team to assist you in your work as president. In this way, you will have time to consider some directional issues, discover some deficiencies in my ideas, and assist me in doing a better and more perfect job,’

Feng Yiping is really a bit nervous now. If Jin Ling gives up, then he will definitely have a hard time, and he won’t be able to stay at the school so carefree and study abroad from China.

Fortunately, after listening to his words, Jin Ling finally regained his confidence. ‘First of all, since you have so many plans in the United States, I think it is necessary to set up a team here to manage them. It is not possible to call us from China every time something happens. It is unreasonable in terms of timeliness and sustainability,’

isn’t it? There are more and more things here. It is really necessary to set up a company to manage a software company, ACP New Energy Automobile Technology Company, which invested in the United States last time, and two possible electronic map-related companies.

‘You’re right, that’s what should be done. So you should do it all at once this time. Set up a North American office for Jia Sheng, add a global vice president to be in charge of all affairs in North America, and report directly to you and me,’

‘Who should it be?’ Jin Ling asked.

‘Mike is not suitable. I don’t have anyone suitable on hand. If you don’t have anyone either, then recruit. After all, since last year, there have been too many capable people, idling at home,’

‘From the way you put it, it seems like you’re not in charge of these matters again?’

‘Don’t you have it? Before the start of the semester, I need to take Jingping out and show her around,’ Feng Yiping didn’t give her the chance to get mad and just turned and left, ‘Thank you, Jin, for taking care of these matters,’