BXBX NOVEL Chapter 11 - Acquiring A Business
The team was working on the new project enthusiastically after learning about their income recently. However, this was only temporary, and the team would get to earn a lot more later on after the lawsuits concluded.
Some upperclassmen approached Vince during lunch break, asking for an opportunity to make some money like his friends.
They mainly were seniors already accepted by good universities to pursue computer science or computer engineering degrees. The others were inexperienced and lacked the knowledge his team required in developing their new game.
A few aspiring 3D artists also provided proof of work, such as a design portfolio. Vince took their contact information before continuing to eat lunch.
[I guess a bunch of kids making a million dollars all of a sudden garners peoples\' attention,] he thought.
Of course, it shouldn\'t have been a surprise considering how popular their first game was, but he assumed young people didn\'t often think too deeply about this sort of thing.
He contacted three programmers and two artists and offered a complete workstation worth $20,000 as an upfront payment for their services. In addition, Vince would reserve the right to remove them from his employment within the next six months without repercussions as a probationary period.
Anywho pass the probationary period will then be offered employment.
These students were older than Vince and had fewer restrictions, yet they\'re still senior high school students. The five of them immediately accepted the offer.
The workstation was a massive boon for all of them, considering it an investment towards their future career. The recruits would not be disappointed if they failed the probationary period.
He contacted Lewis-Jacobs to prepare the employment documents detailing the spoken agreement he discussed with the new employees. Finally, he ordered the equipment and directed them to the appropriate addresses before logging on to Bitcoin Market Exchange.
[Bitcoin is getting too expensive. People will stop buying premium accounts status and cash shop coins sooner than later. There are no quick alternatives for a convenient payment and exchange process for cash and Bitcoin. I\'ll have to develop a payment system that can bill a specific dollar amount worth of Bitcoin at the current going price of BTC in the market,] he thought.
Vince\'s idea was complicated, especially considering all the other foreign currencies involved with a global mobile game like Wingin\' Chicken and the upcoming new game.
Vince took some time to think about a solution and found it right in front of him. Bitcoin Market Exchange facilitates all the transactions of Bitcoin as the only cryptocurrency exchange in the world.
[It\'s best to partner up or acquire them as my stopgap solution, though it may be difficult. The Bitcoin Market Exchange is doing well for itself these days and would require more effort and persuasion] Vince thought.
DWDollar has been living these past few weeks hectically. His business was booming, and his Bitcoin savings were shooting up in value though he didn\'t own much of it in the first place.
It costs a fortune to maintain and grow Bitcoin Market, and he thought they were going out of business within the year if they couldn\'t get an angel investor to bail them out.
[All these millions of transactions are already close to the limit for my small company. We\'re making a decent amount of money from transaction fees, but expansion will cost millions I don\'t have,] DWDollar thought.
Bitcoin Market only takes 0.25% of the value of the transaction as a fee.
This rate was fair for an exchange comparable to modern currency exchanges in 2021 but didn\'t provide enough revenue to catch up with demand and the stress on their network. Moreover, DWDollar was distressed about the company\'s future in his office.
He checked his email like usual and found one from Lewis-Jacobs.
[I remember reading about this law firm on the news. They represent Future Technologies, a company I should thank them for my current predicament.] he thought begrudgingly.
It was an invitation to their offices in Austin, Texas, to negotiate a potential deal with Future Technologies. They insisted that he travel there for which total costs would be paid for and allowed two other Bitcoin Market executives to join.
[The business has stabilized the past week, and I cannot pass up an opportunity like this,] he thought.
So DWDollar chose two of the highest-ranking employees they had and booked the highest-class plane tickets and rooms in a five-star hotel.
They enjoyed their free travel to Austin and met with a junior partner from Lewis-Jacobs at the airport.
The junior partner provided information regarding the scheduled meeting time. They were free to do as they wished before then, and a driver would be ready to bring them to the offices.
"I appreciate the gesture of goodwill by sending a lawyer to welcome us. I forget that I am a CEO sometimes.", DWDollar said.
"Yeah, boss. It seems like this meeting is important. We should bring our A-game during the negotiation, whatever we\'re negotiating for.", the security lead named Chen suggested.
The three of them agreed and enjoyed the amenities before the allotted meeting time. They ate lobster, caviar, and other expensive foods in delight.
[Now, this is how life should be. Why can\'t it always be this fun and carefree?] Dollar thought.
A vehicle was ready to bring them over to the law firm around 4 pm, and it arrived at the law firm headquarters after 30 minutes.
The group was welcomed by Ms. Marcia Kemp and directed into one of the best conference rooms the building offered.
"Please take a seat while we wait for the others. Let me introduce myself. My name is Marcia Kemp, a senior partner here at Lewis-Jacobs. I\'m glad to meet the three of you.", Ms. Kemp said confidently.
The leadership of Bitcoin Market replied in kind with their introductions.
"I assumed your law firm would have been too busy with the lawsuits everyone keeps talking about on the news.", Dollar mentioned.
"I\'m not at liberty to discuss it in detail, but I can assure you that our side will win both cases in a few weeks\' time." Ms. Kemp replied.
After a few minutes of waiting, the junior partner they met the day before walked into the conference room with a 13-year-old boy.
It seemed rather odd to see a kid wearing a full tailored suit.
[I assumed the kid developer would be more like a nerd. This kid exudes much more confidence than most IT professionals I know.] Dollar thought.
All of them took the time to shake hands and introduced each other.
"Good day, gentlemen. My name is Vince Dalton, the lead developer of Future Technologies. I\'ve invited you here to negotiate a deal between my company and Bitcoin Market. As industry leaders in the cryptocurrency market, you guys know how difficult it can be to process crypto payments and traditional bank charges. The price of Bitcoin is booming and becoming more volatile. As a result, it\'s getting harder and more expensive for my users to buy in-game coins with BTC and will eventually cripple the game\'s revenue potential. I cannot let this happen with both my old game and new projects I have planned in the future.", Vince said.
He wasted no time with pleasantries and cut straight to the chase.
"That all makes sense, but what does Bitcoin Market have to do with this?" DWDollar asked.
"That is what we will be negotiating mainly. How should I call you? DW or Dollar?" Vince asked.
"Dollar is fine. I admit that we are the largest cryptocurrency exchange at the moment but expanding our product line is too much for Bitcoin Market right now." Dollar replied.
[This guy is going to play hardball, it seems. I don\'t want to waste too much time, but I need Bitcoin Market\'s cooperation for my plans to work.] Vince thought.
"I\'ll share some ideas regarding a Bitcoin payment portal I want your help developing. This concept will be the main payment processor for our current and future products.", Vince said. They talked about the idea for hours, and the lawyers only got involved towards the end of the conversation to attempt closing the deal.
"This is a brilliant vision, and it seems feasible. The revenue potential is fairly high. I know some people who are working on the e-commerce platforms of popular banks and large retailers. It will be costly but doable. If we do start working on this project, we\'ll need at least $25 million as a starting budget." Dollar proposed.
"Alright, I will offer you $25 million for the first year of development and another $25 million to work for me. I want to buy your exchange. You will retain your positions but will have Future Technologies as the parent company and access to more of my available capital", the boy business owner declared.
The three Bitcoin Market guys were stunned to hear the offer to buy the company. Cryptocurrency was still at its infancy stage, and only a handful of investors believed in the technology. The blockchain has its\' flaws but is a viable option for online payments.
"I\'ll have to think about this first. Do you mind if you can give me a day to process all this information?" Dollar asked.
"Feel free to enjoy the rest of your stay here in Austin. Please talk to Ms. Kemp when you\'ve decided. Unfortunately, I have to leave soon, but it was a pleasure to discuss business with all of you." Vince said with gratitude.
Vince left the office heading home while Dollar and his crew were thinking deeply in the conference room.
Ms. Kemp gave them some space and time to make a decision. Then, a few hours into enjoying the five-star hotel, Dollar called Ms. Kemp to prepare the necessary documents.
He decided to sell his business to a boy, yet he felt, in his heart, this would be the best decision for his company.
[This luxurious life is too hard to pass on, too.] So Dollar thought as he was drinking champagne by the pool with a few young women.
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