Imran Khan

She got fired. So the new CEO came in. That time we approached Yahoo and said, hey, listen, we're going to buy back 20% of our stake. We're going to pay $14.40, which is, I think, valued at $40 billion. So you're going to get $8 billion or so cash. So that's great for Yahoo. You can return the capital to your shareholders.

She got fired. So the new CEO came in. That time we approached Yahoo and said, hey, listen, we're going to buy back 20% of our stake. We're going to pay $14.40, which is, I think, valued at $40 billion. So you're going to get $8 billion or so cash. So that's great for Yahoo. You can return the capital to your shareholders.

She got fired. So the new CEO came in. That time we approached Yahoo and said, hey, listen, we're going to buy back 20% of our stake. We're going to pay $14.40, which is, I think, valued at $40 billion. So you're going to get $8 billion or so cash. So that's great for Yahoo. You can return the capital to your shareholders.

At first they didn't, but after a lot of negotiation, we had to come up with the price. And at that time, Yahoo went through a lot of problems themselves. So we bought back the share and then we had to go raise the money, raise the $8 billion to buy back that 20% stake. Was it an easy process? It was difficult in a sense like, you know, getting Yahoo to do anything was tough.

At first they didn't, but after a lot of negotiation, we had to come up with the price. And at that time, Yahoo went through a lot of problems themselves. So we bought back the share and then we had to go raise the money, raise the $8 billion to buy back that 20% stake. Was it an easy process? It was difficult in a sense like, you know, getting Yahoo to do anything was tough.

At first they didn't, but after a lot of negotiation, we had to come up with the price. And at that time, Yahoo went through a lot of problems themselves. So we bought back the share and then we had to go raise the money, raise the $8 billion to buy back that 20% stake. Was it an easy process? It was difficult in a sense like, you know, getting Yahoo to do anything was tough.

And then raising capital was tough in a sense. There were a couple of issues. In 2012, Facebook went public and the stock literally just went down 40%. It tanked. Yeah. And so when we decided to go raise money from the private market, investors were not interested. Look at Facebook, that went down 40%. I don't want to put Alibaba.

And then raising capital was tough in a sense. There were a couple of issues. In 2012, Facebook went public and the stock literally just went down 40%. It tanked. Yeah. And so when we decided to go raise money from the private market, investors were not interested. Look at Facebook, that went down 40%. I don't want to put Alibaba.

And then raising capital was tough in a sense. There were a couple of issues. In 2012, Facebook went public and the stock literally just went down 40%. It tanked. Yeah. And so when we decided to go raise money from the private market, investors were not interested. Look at Facebook, that went down 40%. I don't want to put Alibaba.

And then also some of the investors were concerned about the whole Ant financial issue, the corporate governance. So the way we solve it, this was one of the most creative transactions, and I'm very proud of it because all bankers were against me doing that. Basically, Joe and I talked about it, and he agreed on it, obviously. I cannot do it. I said, the whole issue is the lockup, right?

And then also some of the investors were concerned about the whole Ant financial issue, the corporate governance. So the way we solve it, this was one of the most creative transactions, and I'm very proud of it because all bankers were against me doing that. Basically, Joe and I talked about it, and he agreed on it, obviously. I cannot do it. I said, the whole issue is the lockup, right?

And then also some of the investors were concerned about the whole Ant financial issue, the corporate governance. So the way we solve it, this was one of the most creative transactions, and I'm very proud of it because all bankers were against me doing that. Basically, Joe and I talked about it, and he agreed on it, obviously. I cannot do it. I said, the whole issue is the lockup, right?

Because all these investors were concerned that, hey, we bought the Facebook shares. Facebook went public. I have six months lockup, and the stock went down 40%. I don't want that situation. We looked at Alibaba. I said that, listen, this is going to be a $25 billion transaction. And the amount we are raising, let's say $8 billion transaction, $4 billion is dead. So that's not a problem.

Because all these investors were concerned that, hey, we bought the Facebook shares. Facebook went public. I have six months lockup, and the stock went down 40%. I don't want that situation. We looked at Alibaba. I said that, listen, this is going to be a $25 billion transaction. And the amount we are raising, let's say $8 billion transaction, $4 billion is dead. So that's not a problem.

Because all these investors were concerned that, hey, we bought the Facebook shares. Facebook went public. I have six months lockup, and the stock went down 40%. I don't want that situation. We looked at Alibaba. I said that, listen, this is going to be a $25 billion transaction. And the amount we are raising, let's say $8 billion transaction, $4 billion is dead. So that's not a problem.

$2.5 billion is a common stock that came from the Chinese investors. So that was not a problem. So the really issue is we're raising $1.75 billion from global investors who are concerned because of the Facebook situation. So we looked at it and said, look, it's going to be a $25 billion public IPO.

$2.5 billion is a common stock that came from the Chinese investors. So that was not a problem. So the really issue is we're raising $1.75 billion from global investors who are concerned because of the Facebook situation. So we looked at it and said, look, it's going to be a $25 billion public IPO.

$2.5 billion is a common stock that came from the Chinese investors. So that was not a problem. So the really issue is we're raising $1.75 billion from global investors who are concerned because of the Facebook situation. So we looked at it and said, look, it's going to be a $25 billion public IPO.

Who cares if we sell 8%, 9% of that offering to a group of investors who we know will have to buy more at the IPO and give them no lockup? Because we know we can go to Fidelity saying, hey, I'm going to give you $200 million. But by the way, this company is going to go public at a $25 billion offer.

Who cares if we sell 8%, 9% of that offering to a group of investors who we know will have to buy more at the IPO and give them no lockup? Because we know we can go to Fidelity saying, hey, I'm going to give you $200 million. But by the way, this company is going to go public at a $25 billion offer.