The so-called art comes from life. The example of friends starting a company in partnership and finally falling apart has been staged all the time, both before and after this film.
On June 4th, Xun You Science and Technology announced that the board of directors of the company passed the Proposal on Removing Mr. Xu Yuan from the post of President of the Company with the voting result of "5 votes in favor, 2 votes against and 65,438+0 abstentions".
14 years ago, it was Chairman Jun Chen who founded Xun You Science and Technology with Xu Yuan with such great strength and courage.
And such a thing happened once as early as 20 19.
Xun You Science and Technology has three founders, namely Xu Yuan, Jun Chen and Zhang Jianwei. 20 19, Jun Chen teamed up with Xu Yuan to play big brother Zhang Jianwei.
This is an enterprise that focuses on the acceleration of online games. Whether it is computer games or mobile games, domestic or foreign games, there will always be various problems such as poor signal and delay due to network reasons, and Xun You Science and Technology's business is to solve this problem through software.
In 2005, Zhang Jianwei and Xu Yuan began to explore the Internet field together.
In 2008, they founded Xun You Science and Technology Company with their partner Jun Chen.
20 1 1, and the three signed the Xun You Agreement on Concerted Action in Science and Technology.
On 20 15, Xun You Science and Technology landed on the Growth Enterprise Market of Shenzhen Stock Exchange. Through negotiation, Zhang Jianwei is the chairman of the company, Xu Yuan is the director and president of the company, and Jun Chen is the director of the company.
After listing, Xun You Science and Technology's initial share price trend was not bad, and it experienced a continuous daily limit, but it gradually declined from 20 16.
Since 20 19, disputes between the three partners have been staged continuously. Among them, at the board meeting from 2065438 to September 2009, Xu Yuan and Jun Chen * * * proposed to remove Zhang Jianwei from the post of chairman and elect Xu Yuan as the candidate for chairman.
Now, at the beginning, Jun Chen, who kicked off the chairman together with Xu Yuan, is doing the same thing again, kicking Xu Yuan out, which is quite a bit like the second child and the third child uniting to kill the boss first and then killing each other.
However, under the circumstances that the company's performance is affected by the market and the founding team is not in harmony, Xun You has become increasingly unpopular in the capital market, and its share price has fallen below the peak 10%.
It can be said that there is no winner in this struggle.
I don't know if this is what Jun Chen wants. Jun Chen may have gained the right to speak in the company, but this stock price decline is probably not the side effect he wants.
Why can't friends start a company together? Can't friends really start a company together? Can't Swift Technology have another ending?
In fact, the reason why friends can't start a company in partnership is essentially because of two problems: power and money.
1, right
Power can be said to be the primary contradiction of friends' partnership.
When Xu Yuan, Jun Chen and Zhang Jianwei signed the Agreement on Concerted Action, there was no agreement on who would make the decision, but "everyone would become the actual controller at the same time". In other words, all three partners are senior leaders.
As the saying goes, two tigers are not allowed in one mountain, let alone three tigers. With the change of the market, enterprises often have to make various decisions. Once the three partners disagree, it is not only difficult to unify their opinions, but may even affect their feelings because of friendship.
The so-called friend is that he doesn't care about each other, but in business and business decision-making, he just needs to care about each other. This irreconcilable contradiction doomed the disintegration of cooperation.
2. Money
In addition to the issue of power, money is also an important factor that turns people against each other.
"I have worked hard for the company and have done so many things from before to now. Why do I get so much? Do you take so much? "
"If I hadn't joined the partnership and guided key decisions, would the company have the current valuation? Do you work hard if you do more work? "
The reason why many people can share weal and woe, but they can't * * wealth lies in the unfairness of this interest. Since ancient times, people who fought side by side with the emperor can survive no matter what difficulties and hardships they encounter. In the end, sharing the cake became the emperor's biggest headache. We can't miss this and forget that. Those who are so powerful and threatening will not only get no credit, but also be beheaded, leaving no talent for future generations.
Enterprises are also fighting for the country. In the distribution of benefits, we should not only be able to retain people so that talents are willing to follow suit, but also take into account the issue of fairness. The partner is undoubtedly the most important person in the company. If the money is not divided well, the enterprise must have a big problem.
So, it seems that there is really no way out for friends to start a company together?
This is not true. In modern enterprise management, the so-called power and money are actually concentrated in a scientific system, that is, equity. How equity is distributed directly affects the distribution of power and money. If the equity is well designed, friends can also start a company together.
The distribution of equity directly affects the power and money distribution of partners, because equity represents voting rights and income rights. Let's take a look at the equity of the three partners when the Concerted Action Agreement was signed.
It can be seen that in the months of 20 10 and1,Xu Yuan holds 18.7%, Jun Chen 13.7% and Zhang Jianwei 19.0%. In other words, the shareholding ratio of the three people is very close.
Equal share can be said to be a taboo for partners to start a business, which will directly lead to the dispersion of discourse power and no one can make unified decisions. But from the perspective of interests, it may be that the interests of the three partners really need to be divided equally. How to solve this problem? Actually, there are many ways.
1, reasonably allocate real shares+imaginary shares.
First of all, one must have absolute right to speak. If we can't reach an agreement on this, the fundamental problem can't be solved. The best way to achieve this goal is to let this person occupy the majority of real shares, generally more than 50% of other valid votes, preferably more than 2/3.
However, at this time, the issue of interest distribution needs to be solved. By signing a virtual share agreement, we will decide dividends and appreciation together with other partners, and grant other partners the right to receive dividends and appreciation according to the same value as real shares, that is, design virtual shares.
2. Limited partnership enterprises
If it is really difficult to realize the design that the real shares are tilted to one side and everyone's shares can only be close, then the indirect shareholding mode of limited partnership can be adopted, so that the actual controller can become the GP (general partner) of limited partnership and the other partners can become the LP (limited partner), thus transferring the control to the actual controller.
It can be said that limited partnership is the best way to realize the separation of control rights and income rights of start-ups, but this move is not applicable after the listing of enterprises, because listed companies require the same shares and rights, even if there is a limited partnership, the equity will directly penetrate.
3. Protocol control
What if the equity distribution is close and it has been listed? In fact, the agreement on concerted action adopted by Xun You Science and Technology is one of the ways to ensure everyone's consent. However, this method is not safe enough. Yonghui brothers Zhang Xuansong and Zhang Xuanning signed a concerted action agreement, but in the end their opinions were out of date and the agreement was cancelled, which greatly affected the development of Yonghui.
It is prudent to supplement a voting entrustment agreement and entrust the voting rights of the other two partners to the actual controller. The two partners don't need to participate in the decision-making of the shareholders' meeting at all, and they can "lie flat".
Many Internet companies, such as JD.COM and Pinduoduo, which need a lot of financing, control a lot of control rights with little equity through voting entrustment, so as to avoid the enterprises from getting out of control.
If we had learned these three methods, the three partners of Elephant Trunk Xun You Technology would not be in today's predicament, and eventually their old friends would not be here, and the company's share price would plummet.
Summary:
In fact, the contradiction of interest distribution will not only occur between the partners of the enterprise, but also between the core talents such as executives. There is also a scientific method to evaluate everyone's value contribution fairly.
Whether the equity distribution mechanism between the partners of a startup enterprise is reasonable or not is directly related to the future development of the enterprise. Even mature enterprises, whether the evaluation of talent value is reasonable will greatly affect the enthusiasm of talents. Xun You's technology, that is, it suffered from the failure to set rules at the beginning, should be taken as a warning.