Chapter 352: Firmly Seize the Initiative

Daum's current operating conditions are not very optimistic. Since the company has not received support from a large number of financial institutions, even though Daum has been listed on the stock exchange, the company's stock price has not shown explosive growth in a short period of time.

This situation has also caused a lot of headaches for Daum's top management. According to the company's current situation, if it cannot turn losses into profits or obtain sufficient financing in a short period of time, Daum is very likely to face a financial crisis!

President Li Zaixiong felt very frustrated when he thought about the Internet technology companies in the United States that had raised a lot of funds and had a market value of tens of billions or even hundreds of billions of dollars. They were all the same Internet technology companies, so why was there such a big gap? Yahoo's market value had already exceeded hundreds of billions of dollars, and they didn't even have a fraction of that!

…

"President, according to our current financial situation, our company can only operate for three months at most before we run into financial problems. If we cannot find a new source of funds in a short period of time, our Daum company... may become the first company that has been listed for less than a year and goes bankrupt due to financial problems...", Section Chief Yi Yuxiang, who is in charge of the company's finances, had a rather grim look on his face.

Li Zaixiong's face was gloomy after hearing the bad news. After thinking for a while, he gave an order, "First, control and reduce the company's unnecessary financial expenditures. Say that the company is undergoing reorganization and adjustment, and there is no financial problem."

"...We will get new financing in the shortest possible time, and these problems will be solved by then." Although Li Zaixiong said it with certainty, he was still unsure. After all, given the current situation, he did not see any hope of turning the situation around.

…

"President! Good news!" A young subordinate knocked on the door excitedly. Before Li Zaixiong could respond, the other party rushed in and said, "President, good news! Representatives from an organization came to us to seek cooperation!"

"...What's the matter?..." Li Zaixiong, who was worried, was a little annoyed when he saw his subordinate suddenly barging in. However, when he realized what was going on, his brows suddenly lit up. "Did you just say that the agency representative came to us to seek cooperation?!"

"Yes, President, the other party claims to be the representative of Comet Capital. He is optimistic about the future of Daum and hopes to reach a cooperation with us!" The subordinate confirmed again excitedly.

They are of course aware of the strength of Comet Capital. If they can get their full support, then their Daum company will not only soar to great heights, but at least the current financial crisis will be easily resolved.

"Hurry! Take them to... no, take them to the conference room, and be polite. I'll prepare here and come over to receive them in person later~!" The president, Li Zaixiong, made a decision quickly.

For Daum, which currently has no other options, the opportunity to cooperate with Comet Capital is something that cannot be missed. As long as the other party's requirements are not too demanding, he, as the president, will agree to all of them.

…

"Hello, President Li Zaixiong! I am Wu Mingxi, the director of Mingren Law Firm, and the head of the legal department of Jinhe Group and Comet Capital. I came here mainly because Zhang Junfeng, the chairman of Comet Capital, is optimistic about Internet technology companies. It was also at his instruction that I negotiate with Daum on behalf of Comet Capital."

"We at Comet Capital hope to acquire 15% of Daum's shares, and at the same time, President Lee Jae-woong will initiate a resolution for the company to raise funds again. As long as the financing resolution can be successfully passed by the board of directors, all the new shares issued by Daum will be taken over by Comet Capital!"

Hearing Wu Mingxi's arrogant words, Li Zaixiong was surprised and delighted. He knew that the reason why Comet Capital did this was most likely to obtain more Daum shares as a benefit for subsequent raising the price and investing in Daum.

Of course, this is understandable. After all, there is no such thing as a free lunch in this world. No financial institution will spend a lot of time and energy to help others earn more profits without seeking returns!

Of course, Li Zaixiong also had some concerns about Comet Capital's investment, such as whether the other party would use the investment to dilute the shares of the original shareholders, completely sideline him as the president, or even directly appoint a new president and kick him out as the founder of the company.

In response to such concerns, Li Zaixiong asked the other party directly. After all, such matters still need to be clarified to ensure that his own interests are not protected in the future.

"President Li, rest assured that when Comet Capital becomes the major shareholder of Daum, we will not interfere with the daily operations of the company. We will only make some minor adjustments, such as adding the KaKao Talk R&D and operation and maintenance team under Nexon to Daum according to the instructions of Chairman Zhang Junfeng..."

"Of course, the reason for doing this is also to hype Daum and boost its stock price. As a leader in the Internet industry, President Li should be familiar with KaKao Talk, an instant messaging software, right?"

"KaKao Talk's R&D and operation and maintenance team are going to join our company?!" Li Zaixiong was stunned. As a colleague, he had naturally heard of KaKao Talk, an instant messaging software.

As one of the most popular software currently ranked first in terms of registered user data in Korea, it is not inferior to listed Internet companies like them.

After hearing what Wu Mingxi said, the shrewd Li Zaixiong quickly understood Comet Capital's intention. The other party was most likely to use Daum's status as a listed company to hype the communication software KaKao Talk.

There is no mistake in the poem, post, content, and read the book on 6, 9, and bar!

If it was really as he imagined, then it was great news that KaKao Talk, an instant messaging software, and its R&D and operation team joined Daum. However, KaKao Talk itself did not seem to have any profitable projects, so this unprofitable instant messaging software alone would not be able to attract many financial institutions to invest, right? Although Wu Mingxi did not give a clear answer to Li Zaixiong's concerns, he also tactfully told the other party that since Comet Capital was willing to spend a lot of money and energy to acquire Daum's shares and spare no effort to hype it, it must have been well prepared and there would definitely be no obvious flaws.

Wu Mingxi seemed to think that Li Zaixiong was still a little hesitant, so he smiled and reminded him, "Of course, in order to ensure that the plan to invest in Internet companies can proceed smoothly, in addition to Daum, Chairman Zhang Junfeng also asked us to visit other Internet companies, such as NAVER, which also uses search engines and portal websites as its main selling points..."

(End of this chapter)