Chapter 381 You are the CTO of 51.com

When acquiring a small company like Kuxun with nearly 50 people, there is actually nothing to investigate in terms of due diligence.

Kuxun's main assets are actually some office equipment. The company still has more than 13 million in cash on its books, and then there is a team of nearly 50 people.

51.com actually spent just over 66 million to acquire such a good start-up company.

Yongzheng Accounting Firm, co-founded by Zhao Lei and Wu Ruohan, also received its first business from 51 Group. From April 26 to April 30, Yongzheng completed due diligence and issued an investigation report.

Next, it’s the May Day Golden Week holiday.

Gao Yang suggested that Chen Hua could arrange for Kuxun Company to take out a sum of money from its account and give each employee a holiday allowance of 8,000 yuan to take a good May Day holiday.

On May 9, 51.com will hold a press conference, inviting only mainstream media in Beijing, to announce the acquisition of Kuxun Company for 80 million.

After that, the entire team of Kuxun Company will move to the Weber Building and become a member of the 51 Group.

Some personnel will be integrated into 51.com, while others will be assigned to other project companies.

Today, the 51 Group's office in the Weber Building is divided into 6 office rooms, with a total of more than 900 people.

The Ministry of Human Resources' college recruitment tour has recruited more than 200 freshly graduated undergraduate and master's students in the past two months.

Various regional companies are also recruiting people on a large scale this year. 51.com alone will recruit more than 400 new people for the 23 new local stations it opened this year.

In 2006, excluding Yuanda Company and Yueju Company, the total number of employees of 51 Group will exceed 2,500.

Before May Day, financial arrangements had been made for a short-term loan of 66 million yuan from China Merchants Bank, the 51 Group's account opening bank, with a term of one year.

China Merchants Bank is happy to provide loans to 51 Group. All 51 Group companies have accounts with China Merchants Bank, and their annual turnover is several hundred million, so they don’t have to worry about solvency at all.

In the second half of 2005, third-party bank and securities custody was opened, and all 51 Group companies chose China Merchants Bank for their stock accounts and fund custody banks.

China Merchants Bank naturally knows that 51 Group is a high-quality customer and is not short of money at all.

Gao Yang chose to cooperate with this bank because it provides the best services and has more high-net-worth customers. It is much easier to deal with than several major state-owned banks.

In my memory, this bank has never exposed any scandals such as insiders misappropriating customer deposits.

During the May Day holiday, siblings Yaoyao and Shitou just celebrated their 100th anniversary. Gao Yang also returned to Jinyang with his family to hold a 100th anniversary banquet for the two children.

On May 1st, Gu Yawen turned 28 years old. In the evening, she celebrated her birthday at her home in Xishan Garden. Mr. Wu and his wife visited Xishan Garden for the first time.

On May 4th, there was still a small banquet held at the Jinyang Municipal Party Committee Guest House, mainly for relatives and friends. In the end, there were still about ten tables.

When Gao Yang returned to his hometown this time, all he heard was good news.

Jiajiahui Supermarket's store opening plan is going very smoothly, and DM Business's revenue has finally reached a breakthrough this year. Judging from the first four months, DM Business's revenue this year is expected to exceed 6 million.

In addition, Sihai Liquor Industry has successfully won the distribution rights of Wuliangye in Jinyang. The wine company's revenue this year is expected to exceed 6 million, which is very likely.

The single-store sales performance of Jiajiahui Supermarket has also increased significantly. Yang Yong and Jiang Bing feel that the retail consumer market has grown significantly this year, showing the characteristics of not being weak in the off-season.

In 2007, He Yong is expected to be promoted to deputy director, and Wu Peng is also expected to be promoted to deputy director. They are both making progress, and they are making rapid progress, all because of their achievements.

As for Xiao Jin, he is now a diligent career man. Whenever he has time, he will go to the Anren Road construction site to check the cement grade, the amount of steel bars, the thickness of the concrete, etc., in detail.

As the top leaders of the two townships, Wu Peng and Xiao Jin sent township cadres and village cadres to work on duty at the construction site every day to ensure the quality of the project.

This time when he returned to his hometown, Gao Yang went to the Shimen Village orchard to see the renovation progress. His cousin Tang Fei was very diligent and managed well. More than 800 acres have been transformed. Under the guidance of agricultural technology experts, more than 600 acres have been planted with fruit seedlings.

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During this May Day holiday, Gao Yang also had a relaxed and happy time. The Shanghai Stock Exchange Index had already reached 1,400 points on April 28. The money-making effect of the bull market will soon come...

On May 9, 51.com held a press conference for the acquisition of Kuxun, and only invited more than 40 media from Beijing. The venue of the press conference was the Shangri-La Hotel, not far from the Weber Building.

Gao Yang did not attend the press conference. Fang Jian, Jin Yang, He Guangwen and others attended, as well as Chen Hua, the founder of Kuxun.

51.com’s acquisition of a start-up company like Kuxun for 80 million yuan has still become a big news in the Internet circle.

Ding Lei and Li Yan didn't know about this beforehand. The press conference was still being held. After the news came out on the Internet, Ding Lei and Li Yan were also shocked.

The two called Gao Yang to inquire about the matter, and Gao Yang explained:

“The reason for acquiring Kuxun is that this company is good at making lifestyle search engines, and the entire technical team has joined 51 Group.

51.com has completed the reorganization of its business divisions. After 51pay is launched, it will be even more powerful with the addition of a lifestyle search engine.

51.com must race against time and strive to achieve revenue of over 100 million this year..."

Both Ding Lei and Li Yan knew about the reorganization of the business division of 51.com's business line. Gao Yang had consulted these two big bosses about this matter before.

Ding Lei said worriedly: "Gao Yang, you spend a lot of money, what if your capital chain breaks?"

Gao Yang chuckled: "Brother Lei, don't worry, 51 Group will never have its capital chain broken."

Neither Ding Lei nor Li Yan knew that 51 Group had invested a large amount of money in the stock market and was making money almost every week.

On May 8, A-shares surged in volume, and the Shanghai Stock Exchange Index rose nearly 4%, approaching 1,500 points. The stock positions of the 51 Group companies increased by 60 to 70 million in market value on this day.

On May 9, the Shanghai Stock Exchange Index continued to rise in volume, and 51 Group made another more than 50 million yuan that day.

The money-making effect is obvious. 51 Stock Bar and 51 Fund Bar are very busy, and new registered users are increasing at an average daily rate of three to four million people.

In the profit ranking list of the 51 Fortune Real Stock Trading Competition, the ranking changes every day. Some people even made more than 30% of the profit in two days, caught the daily limit with full positions, and successfully exchanged shares continuously.

Gao Yang just looked at the stock market conditions. He had a lot of funds and had no interest in making quick money in the short term.

On May 15, the Shanghai Stock Exchange Index experienced two consecutive days of sharp rises, and the closing price on that day exceeded 1,660 points. The trading volume exceeded 50 billion for the first time since June 2002.

The money-making effect has stimulated OTC funds to rush into the market. 51 Fortune ranked first in the real stock trading competition, and its income exceeded 300% in two and a half months.

Today is also the day when the original Kuxun team officially moved to the Weber Building.

After 3 p.m., Zhang Yiming received a call from the president's office, saying that the chairman wanted to talk to him.

Zhang Yiming was a little flattered. After arriving at Gao Yang's office, Gao Yang first asked him about some of his personal experiences, and then suddenly said:

“Yi Ming, 51 Group already has a relatively well-established system for employee career planning.

The first is the direction of technology research and development, from intern, assistant engineer, engineer, senior engineer... and so on, the highest level is the chief scientist in a certain technical field.

The second is the management direction, which starts from the interns and goes all the way to the project company’s vice president, CEO and group management.

How do you think about your career plan?"

Zhang Yiming did not expect that on his first official day at the Weber Building, the big boss Gao Yang summoned him and asked him such a question.

Zhang Yiming thought carefully and replied: "Mr. Gao, I am engaged in programming. At this stage, I want to do research and development seriously. If there is an opportunity in the future, I also want to try a management position."

Gao Yang said: "51 Group already has six or seven project companies in the Internet area. If you are asked to be the CTO of a project company now, would you dare to take it?"

"Ah?" Zhang Yiming was startled, but then gritted his teeth, "Thank you, Mr. Gao, for trusting me so much. If there is such an opportunity, I want to try it."

Gao Yang said: "51.com is the first Internet project we founded, and it is currently the largest project. This year, while 51.com has reorganized its business lines into business department management, it is also rapidly promoting the construction of regional sub-stations.

The CTO of 51.com has always been Professor He. He also has to coordinate the work of the research institute, which is a bit busy.

You will first assist Professor He in the research and development and technical team management of this project as an assistant CTO.

I will give you three months. After three months, you will tell me whether you are qualified for the position of CTO of 51.com.

Yiming, 51.com will expand rapidly this year and strive to achieve revenue breakthroughs in its business line.

This CTO position is different from an ordinary CTO. I hope that while assisting Professor He in leading the technical team, you will also think more about how to combine technology research and development with the business model of the business line."

Zhang Yiming said: "Thank you, Mr. Gao, I will work hard..."
Chapter completed!