Tao Liangchen

Chapter 786 PayPal Payment Platform

The employees at PayPal were actually quite happy about the company being sold.

This was because Su Yehao promised no layoffs within three years, unless an employee violated company rules, and that benefits would be on par with Yanwenzi Group.

Many companies had reduced or even eliminated year-end bonuses the previous year, but Yanwenzi Group had continued as usual. This was well-known and gave them an excellent reputation in the human resources market.

Furthermore, PayPal latching onto a major player greatly increased its chances of survival.

For these veteran employees, it also meant a higher chance of receiving stock rewards before the company went public.

The listing requirements of the NASDAQ Stock Exchange included a rigid stipulation of having hundreds of shareholders. This often benefited insiders, enriching veteran employees of the company overnight, a common occurrence.

Originally, PayPal employees had little hope, only expecting the company to stay afloat so they could keep their jobs.

Who would have thought they’d be so lucky? They were suddenly acquired by Yanwenzi, a giant in instant messaging and social networking. They didn't have to do anything; the company took care of itself, collectively getting them better-paying and more secure jobs.

The marketing department, in particular, felt like it was New Year's. With Yanwenzi Group responsible for attracting traffic, completing tasks would be much easier. With the help of a sister company like Google, the burden on their shoulders was significantly reduced.

The programmers just buried themselves in development. When a startup couldn't get funding and its growth data was poor, they would blame the marketing department. Now that there was a strong parent company to help, they were naturally happy...

After leaving the contract drafting to the legal team, Su Yehao chatted briefly with PayPal's executives and then went to Elon Musk's office.

People's ideas change at different stages of their lives.

Take Su Yehao himself. He used to think twenty yuan for a stick of sandalwood was extravagant. Now, upon hearing that Gulfstream Aerospace had released a new private business jet, the G550, he pre-ordered three of them last week.

Two new planes were for his own use, and the other new plane, along with the current older Gulfstream V model, were for his executives to use for work. Su Yehao usually didn't meddle in things, and he still expected them to help him grow bigger and stronger, so it was appropriate to provide some benefits to win them over.

In many Fortune 500 companies, top executives also had the right to use private jets, which improved efficiency and increased safety. Compared to the revenue these executives could generate, it was extremely cost-effective.

Elon Musk was just an ordinary person. Thinking about the more than twenty million dollars he was about to receive, he was already considering where to buy a big house, so he asked Su Yehao:

"Will our company relocate in the future? I mean, to Yanwenzi Group headquarters in Silicon Valley, or somewhere else. Silicon Valley house prices are falling like crazy. I can get a new house then, closer to the company."

Su Yehao nodded and said, "It should move near Menlo Park. In my opinion, it's not the lowest point for house prices yet. I'll consider buying some land and existing office buildings then. Elon, do you have any plans for PayPal's development? I'd like to hear your suggestions."

Hearing this, Elon Musk was slightly stunned and asked in surprise, "Don't you already have an idea? To cooperate with Netflix, which you just acquired, and then sell traded movie discs?"

"...Who said that? I have no such idea at all. If users can rent at a low price, why would they want to buy at a high price? Its market is too small. Besides, companies like Amazon and eBay are already developing very well. I think competition means starting from scratch, which is too troublesome."

If Su Yehao wanted to do online shopping business in the United States, he could have started planning two or three years ago.

But Amazon's development ideas were fine. His plan had always been to invest in shares and make money through wealth management. The cost might even be lower than if he invested himself.

The market had already been basically divided up. Entering now meant facing fierce competition, the cost of acquiring customers would definitely be high, and it would be difficult to find a new path. From all angles, there was indeed no need to enter the market personally.

Amazon's stock price plummeted from more than 300 billion US dollars to just over 6 billion US dollars, and continued to fall with huge losses. That's why it was said that starting your own company was not as good as investing, while also avoiding countless troubles. /

Hearing this, Elon Musk immediately realized that he had misunderstood and asked puzzledly, "Then why did you acquire our company? I and other shareholders have always believed that the best destination for this company is to be acquired by an online shopping company, so that it can exert its greatest advantages."

Su Yehao replied, "Just like you said, the credit card industry in the United States is too perfect, and it is particularly troublesome to develop PayPal independently. My plan is to build it into a platform and cooperate with many online shopping platforms. Even if I give up some of the profits, at least I can occupy the market first."

"But this is not easy. Amazon is building its own payment system, and eBay is also trying in this direction."

"But they are not interconnected, are they? This adds trouble to consumers. People need a product that is convenient enough to span many platforms, and when I become one of the major shareholders of Amazon, it will not be a problem to let PayPal join in."

"...What? You still plan to invest in Amazon?"

Elon Musk was a little surprised.

Amazon is not a small company like PayPal. To become one of the major shareholders, it would cost at least ten billion US dollars or more.

For a moment, he even thought about buying some Amazon stock in advance, waiting for good news to come.

Su Yehao nodded indifferently and only said:

"That's right, Amazon is very short of funds, isn't it? If I make letting PayPal participate in the payment system one of the investment requirements, their board of directors has no reason to refuse me. At that time, whether it is the principal deposited in the capital pool or the handling fees for transactions between buyers and sellers, can bring us income. Other small and medium-sized online shopping companies will not refuse our cooperation, because they lack the strength to build a payment platform."

To put it bluntly, PayPal and the Xinyongbao (Credit Treasure) payment tool that Su Yehao built in the mainland are basically the same.

However, credit cards are more developed in the United States, and people can directly pay with credit cards when they consume, making the promotion process much more troublesome than Xinyongbao.

Fortunately, every time you pay with a credit card, you have to pay a certain handling fee, but using the funds left in the PayPal account, the handling fee is slightly more cost-effective, which is equivalent to grabbing food from the VISA alliance and MasterCard International Organization that issue credit cards. This is the root cause of PayPal shareholders' concerns that the company will be targeted.

Involving a conflict of interest, there will definitely be contradictions.

Fortunately, there is also a conflict of interest between card issuing institutions. Out of consideration for the interests of consumers, they probably dare not blatantly suppress PayPal, which is "seeking benefits for consumers", so as not to look too ugly, so Su Yehao is not too worried.

After listening to him, Elon Musk understood and said with a smile:

"That's right, the things we can't achieve may be just small things in your eyes. Last year, in order to compete with eBay, Amazon allowed third-party retailers and sellers to use its e-commerce platform. Users are in a stage of rapid growth. If we can carry out in-depth cooperation with Amazon and eBay, and promote it through Yanwenzi and Google, I am confident that I can double PayPal's users within a year."

"...I am looking forward to it. PayPal will first develop according to the current plan. If you need anything, you can directly contact John Zhou. He will arrange a comprehensive promotion for you in the near future. Remember to prepare in advance."

There were too many celebrities under Su Yehao's command, so that he didn't have much interest in seeing old acquaintances from his previous life.

After leaving other things to John Zhou, he took Jiang Yu to see the people from Goldman Sachs. It was said that a mysterious shareholder was willing to talk about selling Apple shares, but temporarily hid his identity and was unwilling to trade at market prices, asking for a 5% premium.

The mere 5% premium also seemed to indicate that the other party was very insecure and not optimistic about the short-term trend of Apple's stock price...