Back To 1995

   Chapter 526 A group of runners-up

  People will have different ideas in different times. Aaron Swartz has long passed his youth and frivolity. Wikipedia is indeed what he has always wanted to do, but only if he can eat!

The identity of the president of PayPal has brought enough changes to Aaron Swartz, no matter how the American banking industry views PayPal, but when you see Aaron Swartz, the president of PayPal, you must give some points face.

Going out now, as long as Aaron Swartz takes out his business card, he will be treated as a "big man" by those so-called celebrities or congressmen. After all, he is the head of PayPal with a valuation of more than ten billion dollars. people!

   If it is Wikipedia, of course, it will also have influence, but if you want to be sought after, Aaron Swartz knows with his toes that it is impossible.

   Everyone knows that PayPay will hit the market soon, and Aaron Swartz's worth will also soar, so now, Swartz doesn't want to leave PayPal!

   On Aaron Swartz's side, let PayPal and Prosperity Bank begin to secretly contact each other, ready to start acquiring the other party, even if the bank license.

On the Silicon Valley side, the concept of electronic payment is also hot. After PayPal was launched, several major payment software followed the trend. After it was reported that PayPal received a billion-dollar venture capital from Goldman Sachs, these follow the trend. His work has also begun to be approached by various venture capitalists in Silicon Valley.

   "We need to promote a larger-scale bonus system, allow more users to pay with dotBank, and introduce more new features!"

   In a long and narrow office at 394 Silicon Valley Street, the founder of dotBank spoke to several partners and executives in a high-pitched voice.

  dotBank's financial director, with enthusiasm towards Zheng Zheng, talked about making dotBank surpass PayPal's own boss and said, "Boss, it's unfortunate to tell you this news, we don't have enough money!"

   "Now attracting a new user, the cost to dotBank is as high as $11, and to attract new users through this user, the cost is as high as $21, and X.com is competing with us!"

   The financial director said helplessly, now that dotBank claims to have 5 million users, in fact it is only more than one-third, and users are basically bought with money, and the cost is much higher than PayPal.

As advertised by dotBank, as long as a user registers an account, they will be rewarded with ten dollars. In addition to the one dollar in the account itself, that is to pull a head, dotBank needs to spend eleven dollars, and this new user, if If you can invite friends to register, you will get another ten dollars, and the cost is equivalent to twenty-one dollars!

This cost is really scary. Although PayPal did the first thing to sign up and send US knives, a new PayPal user actually only gave a few US dollars, and more of them were coupons. The coupons to buy games with money, ebay, Amazon coupons, etc., spread the cost and increase the revenue of Xue Leshan, eBay, and Amazon. In fact, the cost is not too high. The cost of a new user is five Around the US knife.

Moreover, in Bangzi, Siam, Lao Maozi and other places, there are fewer US knives issued, and bonuses are paid according to local salaries. The average cost is even reduced to one US dollar, and one US knife pulls a head, which is absolutely not a loss for PayPal. Yes, if it can attract 100 million users with 100 million dollars, then it is estimated that Goldman Sachs is willing to pay for PayPal...

   But dotBank payment is completely reckless. It has no overseas market and can only stay in America, robbing users from PayPal at high prices. A new user costs 21 dollars, which can burn more money than PayPal.

   Hearing that there was not enough money in the account, the founder of dotBank didn't care, "Vision, vision decides everything!"

"The future belongs to the era of electronic payment. If there are people on Wall Street and Silicon Valley who don't want to see only one PayPal payment in the future, they must support us. PayPal's valuation has exceeded 10 billion US dollars, and it was obtained from Goldman Sachs. One billion dollars, dotBank will also start financing!"

The founder of   dotBank said confidently, "In the past few days, Sequoia, KPCB Ventures, AOL, Yahoo and other companies have all called me and they want to invest in dotBank!"

Hearing this, the atmosphere in dotBank's office immediately became warm. What they were most afraid of was not enough money to burn, but now it seems that venture capitalists in Silicon Valley and Internet companies are obviously very interested in dotBank payment. interest.

   "dotBank has opened a new round of financing. Our goal is to get $100 million in venture capital. Guys, I want to make dotBank users surpass PayPal!"

Not only is dotBank shouting the slogan to surpass PayPal, but also several other electronic payment platforms that follow the trend. Billpoint payment, PayMe, X.com payment, etc., stimulated by PayPal, are constantly recruiting troops, from investment People take money there, ready to start a new round of burning money, and attract more users to enter the market.

In the office paid by   X.com, the Musk brothers are also discussing. The office is full of smoke. As workaholics, coffee, tobacco and alcohol are essential things in daily life.

"Currently, the scale of X.com payment users is 4.1 million, and there is still a big gap with PayPal, but this part of the gap is mainly in overseas markets, and in America, PayPal users, compared with X.com payment, It's about eight to nine million higher!"

Compared with the office of dotBank, the X.com office is a lot more luxurious. At this moment, the Musk brothers are also discussing the electronic payment industry with several executives. By selling Zip2, Musk got a lot of money. The US knife also makes the promotion of X.com much smoother than dotBank.

   "It's not impossible to surpass," Musk looked at those reports and seemed confident, "X.com now pays a higher cost to acquire new users than PayPal, but we have a chance to surpass each other!"

  Musk means to burn money, now rely on burning money, first catch up with PayPal in America.

   Greg Kerry, an investor who had invested in Zip2 before and made Zip2 go through the most difficult early stage, and was still the first investor of X.com, frowned when he heard that he was going to burn money.

Greg Kerry is a small real estate developer in Canada. He is not born in Internet technology, but his experience is much richer than that of Musk. Just like Jim Clark did to Anderson, Greg Kerry is also basically to Musk. as above.

Greg Kerry is experienced, mature and prudent. During the Zip2 period, coordinating internal relations can also suppress Musk and others, and make Musk listen to his opinions. Otherwise, with Musk's temper, Zip2 has long been inside Made into a pot of porridge.

   "Musk, I need to remind you that the owner of PayPal has more dollars than all of us here combined!"

   "Now we have no way out!"

I haven't achieved success yet, but Musk's temper and personality are the same as those of later generations. He doesn't look back when he touches the south wall. , he will never look back.

   "X.com payment, in order to increase more users in the shortest time, we need to increase the subsidy amount, attract more users to pay with X.com, and increase the interest of wealth management products on the platform!"

Looking at Musk, who was going to fight to the end and compete with Song Yang in the electronic payment industry, Greg Kerry could only sigh helplessly. He will never give up until he burns all the money he made from Zip2.

   But you want to burn money with Song Yang?

Greg Kerry always felt a little trembling in his heart. It wasn't that he couldn't trust Musk, but he really felt that the gap was too big. There are different opinions on Song Yang's current worth, but it was dozens or even more than Musk's. Hundreds of times, that's no problem at all, let alone hooking up with Wall Street now.

   "Maybe, X.com also needs to find new partners!"

Musk's brother, Kamba Musk said at this time, "PayPal has begun to cooperate with Goldman Sachs and Deutsche Bank, Wells Fargo is negotiating with Billpoint Payment, dotBank Payment is cooperating with Yahoo, Sequoia Investment, etc. Chicago is the first The bank also announced that it will launch its own electronic payment platform, and X.com payment also needs new partners!"

Kamba Musk said this to Greg Kerry. Musk was inconvenient to say it. He was responsible for saying it. He told Kerry that the money he invested was not enough. X.com For payment, you need to find a new big money owner. Just like PayPal chose Goldman Sachs, dotBank and Yahoo are in a relationship, X.com also needs to find a big head.

  Gregor Kerry didn't have much to say on this point, and nodded without much thought.

   Musk saw this and said directly, "I will visit Bill Gross, an investor in Confiniti, and ask him to invest in X payment."

  The popularity of the Internet is on the rise. New industries such as electronic payment are now about to break through. New payment platforms that keep popping up all want to bring down PayPal...

   (end of this chapter)