From Becoming Penguin's Major Shareholder to Building an Entertainment Empire

Note that this book is a slow-burn novel, and it will become increasingly exciting as the story progresses.

It starts from 2002, beginning at the Beijing Film Academy, and starting with the H...

Chapter 451 Taking Down KAKAO

"Then I wish us a pleasant collaboration?" Lee Boo-jin raised her glass.

"It's a pleasure to work with you."

Everyone clinked glasses.

Shen Fang looked at Lee Soo-man and said, "President Lee, from now on, SM Entertainment will be in your hands. I will not send anyone to interfere with the company's operations. As long as you do your job well, your future is limitless."

Lee Soo-man quickly expressed his gratitude, rising respectfully to say, "Thank you, Mr. Shen."

"Sit down, sit down, don't be so polite."

He trusted Lee Soo-man quite a bit. The reason he didn't send anyone to supervise him was because he was afraid Lee Soo-man would become disloyal. SM's true value really lay in Lee Soo-man's talent scouting. With him around, it was only a matter of time before SM started making money.

“Mr. Shen, I have the utmost respect for Tencent. During the global internet downturn, you were able to set things right and rise above the storm. Now that the downturn is over, Tencent has reaped great rewards. Our company, KAKAO, is also deeply rooted in the internet industry, and we would like to learn from your experience,” Kim Soo-beom said respectfully.

Shen Fang smiled slightly: "Going to learn from the masters is no problem, the problem is, I'll be charging tuition."

"Name your price."

"My tuition is a bit expensive."

Kim Soo-beom and Lee Boo-jin exchanged a glance.

“Mr. Shen, as long as Kakao can turn a profit and find the right direction for development, Samsung can afford any tuition fee.”

"I want 20% of KAKAO's shares, with Tencent investing in KAKAO Entertainment and providing technical and strategic cooperation. At the same time, Lao Chen wants to become a director of KAKAO, without voting rights, but we need to exclude our own people from certain company affairs and financial supervision."

Kim Soo-beom frowned: "Mr. Chen, your appetite is too big."

"Is it big? I don't think so."

“Mr. Shen, I believe that even without your help, we can still get on the right track; it’s just a matter of time.”

Shen Fang shrugged: "That's for sure, but the internet market is constantly changing. Now is the best time for a strong sector to emerge. Time is of the essence. I believe there are other online chat tools besides Kakao in South Korea. The internet isn't something that can be developed well just by having money. Otherwise, funds would have already entered the market. The current internet environment is still in the exploratory stage. Without a proper guide, it will directly affect a company's future. I believe President Kim understands this principle as well."

Kim Soo-beom wholeheartedly agreed with Shen Fang's words. Globally, very few internet service companies actually make money; most rely on traffic and advertising, and many don't even know how to monetize, essentially groping their way forward. Despite having a large user base, they don't know how to generate revenue.

It's like having a gold mine in your hands but no tools to mine it.

"Mr. Shen, why don't you tell me about the direction you've given me? I'd like to hear it."

"Miss Li, although you are very beautiful and have captured my heart, business is business. You can't expect to get something for nothing from me."

Lee Boo-jin rolled her eyes at Chen Fang.

"How can I agree to your request if you don't offer some insightful opinions? You're just thinking about taking over Kakao shares without any real knowledge or experience. Do you think I'm stupid?"

Shen Fang stroked his chin: "Let me point you out a few general directions first. Kakao 1.0: Communication; Kakao 2.0: Mobile Ecosystem."

Kakao 3.0: Synergy + Global. This is the best path and direction for your Kakao development. Actually, Kakao's company type is similar to Tencent's, but there are also many differences.

"KAKAO is currently in its initial stage and needs to vigorously develop network communication infrastructure, quickly seize the South Korean network communication market, and form a cooperative relationship with the national communications department. I believe this will not be too difficult for Samsung."

Kim Soo-beom's eyes flickered: "How do we collaborate?"

Shen Fang smiled and said, "It's very simple. By binding the national basic communication numbers with KAKAO user accounts, we can form a real user base. As long as we can secure this relationship, nearly 90% of South Korean users will become KAKAO's territory."

Shen Fang used WeChat's tactics on Kakao. With Samsung behind Kakao, it couldn't be easier for them to cooperate with the South Korean power grid operator.

Lee Boo-jin hurriedly asked, "Then how do we monetize the users?"

Shen Fang smiled and said, "Miss Li, you're trying to get something for nothing again. My idea just now could solve Kakao's current predicament."

Lee Boo-jin rolled her eyes at Chen Fang.

"Explain your monetization methods clearly, and I'll agree to all your requests."

"Words alone are not enough to prove anything."

"You don't believe me?" Lee Boo-jin asked incredulously.

Shen Fang shrugged: "There's nothing I can do. My mom said that you can't trust what a pretty woman says."

Lee Boo-jin... Although what you said sounds like a compliment, I'm not buying it!

"I keep my word!!!"

"Alright then, since Miss Li has agreed, let me explain. Let me make it clear beforehand that I will buy Kakao's shares at the original price."

Lee Boo-jin was furious, but Kim Soo-beom readily agreed.

“No problem, Mr. Shen, this is a technology-based investment, I agree to your request.”

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