American History 1988
Chapter 155 - 149 One Hundred Million US Dollars

Chapter 155: Chapter 149 One Hundred Million US Dollars

Although the release of Teams 2.0 received acclaim from most new and existing users, Byte Software also vigorously promoted their ownership of the new algorithm.

However, due to the report from the "Mercury News", Sequoia Capital and KeyPoint Ventures were unwilling to change their previous offers.

Even if it hadn’t been for Durell’s sudden involvement, Valentine might have continued to stick to the last offer of sixty million US Dollars.

Durell from KeyPoint Ventures, although he likes impromptu investments, it doesn’t mean he’s a sucker.

As one of the most influential venture capitalists in Silicon Valley, Durell has his own investment principles.

Seeing the tacit understanding between the two men, Dean knew that Byte Software had little room for negotiation.

Sequoia Capital and KeyPoint Ventures could already represent the attitude of Sand Hill Road, and if they were unwilling to re-quote, Dean would not receive any other offers.

"I need to confirm first, what do you mean by other help?" Dean decided to listen to the soft conditions other than capital.

Valentine and Durell exchanged a glance, "Venture capital institutions have their own political brokers, of course, that’s not the point. Our partners are a resource in themselves.

In addition, we have public media resources and technical resources that Byte Software doesn’t have, we know most of the technology companies in the Bay Area, and perhaps some of them have the technology you want."

Well, compared to top-tier venture capitalists like Sequoia and KeyPoint Ventures, Morgan Tailer and Mayfield indeed fell a bit short.

Although their quotes didn’t bring any surprises to Dean, they were acceptable.

This was only slightly off from his most optimistic outcome, but clearly, things can’t always go perfectly.

Besides, the current timing didn’t allow Dean to ask for too high a price. Amidst internal and external troubles, it was already good not to slip.

"Gentlemen, please hold on for a moment, my other investors will be right over." Dean checked his watch, fifteen minutes from Sand Hill Road to Central Avenue was enough.

"OK, that’s what we came here for today," said Durell, still in his wrinkled clothes and holding his coffee, his voice steady and unhurried.

"Dean, trust me, Sequoia Capital can offer more assistance to Byte Software," Valentine added with a shrug after catching Durell looking his way, "Of course, our odds are even better if we include John."

"Gentlemen, I am very much looking forward to working with you, but it requires everyone’s agreement." Dean could make the choice for Byte Software by force, but the board of directors had its own significance.

In addition, Dean wanted to hear the opinions of the other two investors; they knew more about their peers on Sand Hill Road.

As they were speaking, David Morgentaler and Glenn Miller had knocked and come in.

"I hope we haven’t missed the most exciting part," David extended his arms and hugged Valentine and Durell in turn. "Standing in this office reminds me of the time when I used to work at Apple."

Morgan Tailer, Redshirt Capital, and KeyPoint Ventures all participated in Apple’s IPO. This reunion at Byte Company not only made David Morgentaler sentimental but also increased his confidence.

See, such a gathering is not common even in Silicon Valley.

"So where were we?" After David and Glenn sat down, they turned their attention to Dean and the others.

David and the others already knew the intentions of Sequoia Capital and KeyPoint Ventures. Byte Software’s second round of fundraising was, in fact, what Morgan Tailer and Mayfield wanted to see.

Because as Dean said, Byte Software really was running out of money. The consumption rate of funds on the balance sheet was even faster due to the various PR expenses during this period.

Now that everyone was present, Dean didn’t keep them in suspense; he repeated the conditions proposed by Valentine and the others.

To be honest, neither David nor Glenn had any dissatisfaction with the second-round valuation of seventy million US Dollars.

In just over three months, their initial investments had more than tripled. In terms of data, Morgan Tailer and Mayfield had already made a positive return.

Besides, Byte Software was in need of capital at the moment, and the patent dispute with Bell also put certain pressure on them.

The involvement of Sequoia Capital and KeyPoint Ventures would not only bring urgently needed funds to Byte Software but also represent a boost in its own right.

After a brief discussion in a low voice, David and Glenn nodded towards Dean. It was time; further delay wouldn’t benefit Byte Software.

"OK~" Receiving the signal, Dean clapped his hands to attract everyone’s attention, "Well then, Valentine, Durell, it’s a pleasure working with you~"

"Yeah~" Valentine stood up excitedly, walked over to Dean, and then gave his shoulder a firm slap, "We have work to do next, buddy.

I can’t wait to sell Teams into every company in America and give AT&T a good kick in the ass while we’re at it."

Durell wasn’t as loud as Valentine, but he too was a man of action.

"The voice coding technology involved in Teams—I’ll contact a few friends to see if there’s any potential for cooperation."

The resources of Sequoia Capital and KeyPoint Ventures were much richer than those of Morgan Tailer and the others.

Now that Byte Software was about to have a share of theirs, Valentine and Durell started actively scheming for the current patent dispute.

"I think it’s time for us to hold another board meeting, to discuss the second round of fundraising and how to deal with the upcoming lawsuit from Bell."

Dean reciprocated with prompt action; quickly signing the contract would reassure Valentine and Durell and get them on the board, making them feel secure.

"Good~" Valentine nodded in satisfaction, "Sequoia Capital’s funds can be transferred at any time, guys, let’s move fast."

Dean and David exchanged glances, "We’ll sign the contract tomorrow and then call a board meeting."

"We should finalize everything this week; I have a trip to Tokyo next week," Durell was always busy, not even knowing where he’d be tomorrow.

"No problem, we’ve already..." Dean hadn’t finished speaking when suddenly the phone on the desk rang.

Dean apologized with a glance to everyone and picked up the phone.

"This is Byte Software, Dean Price."

"Hello, Price, this is Gates."

"Gates?" Dean Price raised his eyebrows in surprise, "The Gates from Microsoft?"

Upon hearing this, everyone else in the office instantly focused their attention here.

"Yes, I’ve tried your software, and it’s a fantastic idea."

"Thank you," Dean nodded to the others in the office, confirming their guess. "So, what can I do for you?"

"I think the one who needs help is you. Byte Software has run into trouble, hasn’t it?" Bill Gates leaned back in his chair, idly flipping through a PC World magazine with a smile.

"Byte Software has encountered a bit of trouble, but we can handle everything," Dean said cautiously, unsure of the other party’s intent.

"One hundred million dollars!" Bill Gates stated the figure with composure.

"What?!" Dean was stunned by the number that had just been blurted out.

"One hundred million dollars for Microsoft to acquire Byte Software. We’ll take care of the trouble for you, and you can still remain its CEO," Bill Gates said, setting down the magazine as if he were discussing a trivial matter.

After a slight pause of two seconds, Dean declined politely. "Sorry, Byte Software has already found a solution. However, we would be very willing to talk with Microsoft about software development collaboration for the Windows 3.0 system."

"OK, we welcome anyone to develop software on Windows 3.0. Also, good luck to you guys," Gates said as he hung up the phone, his gaze once again scanning the magazine on the table.

Dean’s earlier interview had been covered by more than just the San Francisco Chronicle.

The PC World magazine on Bill Gates’s desk was also headquartered in San Francisco.

However, being a monthly publication, it lagged behind newspapers in terms of timeliness. It was not until mid-May that the magazine began to be distributed across North America.

Of course, the magazine had its own advantages: it was not limited by article length, allowing it to provide readers with detailed introductions to major events in the computer industry.

Even the monthly sales of over 800,000 copies made the magazine’s influence even greater.

The San Francisco Chronicle circulated only on the West Coast, but PC World reached the entire America.

The reason Bill Gates called Dean was thanks to this magazine. The San Francisco Chronicle might not reach Seattle, but PC World could.

At that moment, the cover that Bill Gates was looking at featured an aggressive octopus with a small figure in blue armor beneath its feet.

There was no doubt that this was an allegory for the patent dispute between Bell Company and Byte Software, and PC World’s stance was unmistakably clear.

"Bell Company has never disappointed, always managing to flaunt its lack of scruples in the most unexpected places.

Suing a software company that uses international public standards, just because these standards contain its patents.

Oh, my God, didn’t anyone tell Bell that international public standards are meant to be used by everyone?

If they didn’t agree with such terms, why did they sign the contract in the first place?

They use international organizations to promote their own agenda and, at the same time, wave the legal baton threatening others to pay exorbitant patent fees.

Without a doubt, all this is driven by greed. Bell is still the same old Bell!

As for Byte Software, I have great sympathy for it. The concept of its Teams software is terrific.

The advancement of computer technology needs innovative companies like this to push it forward.

But obviously, Bell doesn’t like to see these developments. They fear new technologies will replace the decrepit throne beneath them.

They plan to strangle all technological revolutions in the cradle and allow their business empire to continue its feeble existence.

Look, the call to battle has been sounded, and the twilight of the gods is upon us!"

That was the original text from PC World, and although it was somewhat melodramatic, it made many people interested in Byte Software.

Gates was among them, and Microsoft’s market value had already surpassed ten billion dollars. Acquiring Byte Software for a trifling sum of one hundred million dollars would be a breeze for Microsoft.

Unfortunately, the offer was declined, but Gates didn’t take it to heart; it was just a whimsical interest of his.

Microsoft’s current focus, without a doubt, was the newly released Windows 3.0 – Gates’s opening battle to dominate the operating system market.

But his phone call had everyone in Byte Software’s office on edge.

No surprise there, as Microsoft had now surpassed Lotus and Oracle, becoming the highest-valued listed software company.

"Dean?" Valentine’s voice instinctively softened several notches; although they had reached a verbal commitment, the agreement wasn’t signed yet.

Facing the anxious looks of his colleagues, Dean shrugged, "Microsoft plans to buy us for one hundred million dollars."

Phew—indeed, Valentine and the others exchanged knowing looks as expected. This Seattle lad’s style had become increasingly sharp in the past two years.

Miscopro Word Processing Software was a lesson from the past; WordStar once comfortably held the throne of word processing software, but now it was nearly forgotten.

"Dean, what’s your opinion?" Durell asked, uncommonly serious with his question first.

He was a thorough "anti-Gatesist," willing to support any company that competed with Microsoft.

Although the offer of one hundred million dollars meant that the investment they had agreed upon five minutes earlier had appreciated by 43%, Durell wasn’t excited about it.

He even decided that if Dean agreed to Gates’s acquisition, then KeyPoint Ventures would withdraw from the funding round.

But his worries were unnecessary. "I think Byte Software is worth more than that; we at least need to go through Nasdaq first," Dean replied.

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