章節 57: CH57 - Netscape
Two days later, Seok-won met Tom Harper again in the business meeting room of the hotel where he was staying. The quiet, luxurious interior of the five-star hotel added to the gravity of the occasion as they sat down to finalize the investment contract. Tom, in a somewhat awkward suit, looked tense, while a lawyer sat beside him to offer legal advice. Seok-won was accompanied by Landon, who had arrived from New York the day before.
After thoroughly reviewing the contract, the stern-looking lawyer in a black suit and tightly knotted tie spoke up.
"There are no issues with the content."
Landon smiled and added, "As agreed, $2 million will be invested in exchange for 20% of the equity in the new company. Additionally, there is a clause granting our representative the right of first refusal if additional investment is required in the future."
Already familiar with these terms, Tom nodded slightly.
"Then, if there are no objections or issues, you may go ahead and sign the contract," Landon said.
Tom exhaled softly, emotions welling up inside him. He was on the verge of restarting the web browser development project he had almost given up on due to the harsh realities he faced. With mixed feelings, Tom took the pen handed to him by the lawyer and, after a moment of contemplation, signed the contract.
Seok-won, smiling broadly, stood up and extended his hand.
"Now we're really in this together. I'm looking forward to seeing you create a fantastic web browser that will put NCSA in its place."
"Thanks for believing in me. I won't let you down," Tom said, his face flushed with excitement as he shook Seok-won's hand.
"Have you thought about what to name the new company?" Seok-won asked.
Tom, with no hesitation, replied, "I'm thinking of calling it Mosaic Communications."
"Based on the name of the web browser you created?" Seok-won asked.
"Yeah," Tom confirmed.
Seeing Seok-won's lukewarm response, Tom asked, "Is the name not good?"
"It's not that, but it could lead to issues down the line," Seok-won explained.
"What do you mean?" Tom asked, looking puzzled.
"Even though you developed the web browser, NCSA holds all the rights to it," Seok-won pointed out.
"Right," Tom said, his face twitching slightly as he nodded, still stinging from the fact.
"If you create a new web browser, NCSA is bound to be displeased. If you use the name Mosaic, how do you think they'll react?"
"Mosaic is a name I came up with!" Tom snapped, feeling defensive.
Seok-won gave him an understanding look but remained firm.
"I understand how you feel, but since NCSA holds all the related rights, it's not really yours anymore."
"Damn it," Tom cursed, frustrated as he acknowledged the truth of the situation.
Landon, who had been quietly listening, chimed in.
"The representative is correct. NCSA could cause trouble if you use the Mosaic name."
Tom's lawyer also sided with Seok-won, causing Tom to bite his lower lip in frustration.
However, Tom wasn't a child and soon calmed down, admitting, "You're right. It would be foolish to cling to something I can't reclaim."
Relieved that Tom was willing to listen to reason, Seok-won felt a weight lift off his shoulders. In the original timeline, Tom had indeed faced legal issues when he named his company Mosaic Communications, as NCSA sued him for patent infringement, arguing that the name and the technology used were too similar to what he had developed while at NCSA.
'Even if we avoid using the Mosaic name, NCSA will likely try to find something else to attack us over. But it's better to minimize the chances of giving them any ammunition,' Seok-won thought.
Tom's entire philosophy and approach to web browser development were deeply rooted in his experience with Mosaic, so conflicts with NCSA were likely inevitable. However, Seok-won was satisfied that they had avoided using the name and the potential legal issues it could bring.
Seok-won then made a suggestion.
"What do you think about the name Netscape for the company?"
Tom tilted his head, looking intrigued. "I've never heard that word before."
"It's a combination of 'network,' meaning the internet, and 'escape,' as in adventure or exploration. I came up with it," Seok-won explained, keeping a straight face even though he knew the real creator was sitting right in front of him. "It symbolizes a gateway to explore new worlds through the internet. What do you think?"
"Netscape…," Tom muttered, repeating the word a few times. His eyes suddenly lit up. "It's easy to remember, and it rolls off the tongue nicely. More importantly, the idea of exploring new worlds through the internet is perfect for a company developing a web browser. I love it!"
"I'm glad you like it," Seok-won replied.
"I don't just like it—it's much better than Mosaic," Tom said enthusiastically, even clapping his hands.
Given that the real Tom Harper had coined the name Netscape in the original timeline, it was only natural that he would be so pleased with it.
"So, the first thing we need to do is find an office, right?" Seok-won asked.
But Tom shook his head. "No, there's something we need to do first."
"What's that?" Seok-won asked.
"I need to bring over the colleagues who helped create Mosaic," Tom said.
"NCSA is a national research center, and this is a fledgling startup. Do you think they'll be willing to jump ship so easily?" Seok-won asked, concerned.
Tom shook his head reassuringly. "The people who joined later are just along for the ride. The real core members are the student researchers who worked with me from the beginning."
After all, Tom Harper himself hadn't even graduated yet.
"They haven't left yet, but they're just as dissatisfied as I was with NCSA's interference and disregard for our work on Mosaic."
If NCSA had treated Tom poorly, there was no reason to think they had treated the other student researchers any better.
"If I go and talk to them, I'm sure they'll join us," Tom said confidently.
Seeing Tom's confidence, Seok-won nodded slightly. 'Their skills have already been proven, and if Tom can bring them along, it will significantly shorten the development time.'
Additionally, bringing over the skills and experience gained from developing Mosaic would be a major advantage.
'Of course, NCSA will be furious when they find out their people have been poached.'
But that was NCSA's fault for not properly valuing and respecting their talent.
'And anyway, developing a new web browser is bound to lead to conflicts with NCSA. There's no need to take the easy way around.'
Moreover, with a powerful competitor like Microsoft potentially entering the web browser market at any time, there was no room for hesitation.
'Even if it leads to problems later, the priority now is to seize the market as quickly as possible,' Seok-won thought.
Having reached that conclusion, Seok-won said to Tom, "Even if they're dissatisfied, it won't be an easy decision to leave the security of NCSA for a new startup."
"That's true… It wasn't easy for me either," Tom admitted, recalling the difficulties he had faced when he decided to leave NCSA for Silicon Valley.
"Passion is important, but you need to offer them appropriate compensation and incentives. After all, that's why you left NCSA, isn't it?" Seok-won pointed out.
"You're right. Asking them to join without any guarantees would be selfish," Tom said, nodding heavily as he realized the seriousness of the issue.
"It would be best to offer stock options so they can share in the company's growth. That way, they'll be more motivated to work hard," Seok-won suggested.
As the company grew, the value of the stock options would also increase, encouraging everyone to work even harder and take initiative.
"That's a great idea! I'll definitely do that," Tom said, visibly pleased with the suggestion.
For the rest of the meeting, Seok-won continued to provide Tom with valuable advice on how to run the company.
After the contract was signed, Seok-won checked out of the hotel and, along with Landon, headed to San Francisco International Airport in a limousine. As he leaned back in the plush seat, gazing out at the passing scenery, Landon, seated next to him, cautiously broached the subject.
"I've heard that he hasn't even graduated from college yet. Are you sure he's worth a $2 million investment?"
"Do you think I'm wasting my money?" Seok-won asked, glancing at Landon sideways.
"I'm sure you have your reasons, but I'm skeptical about whether we'll see a significant return," Landon admitted.
Given that the company hadn't even been established yet and that the CEO was a young, soon-to-be college graduate, it was understandable.
Seok-won's lips curled into a faint smile as if he had expected this reaction. "Remember when I bought Cisco shares?"
"Yes," Landon replied.
"At the time, I mentioned that the internet would become a gold mine," Seok-won continued.
Landon listened quietly as Seok-won elaborated.
"If Cisco is the company laying down the railroad tracks for the internet, then Netscape will be the helmsman guiding ships across the vast sea of the internet."
"So you're saying both companies are essential to using the internet," Landon said.
"Exactly," Seok-won confirmed.
Landon's furrowed brow relaxed as he began to see the bigger picture.
While he didn't fully grasp the grand vision Seok-won was painting, Landon felt somewhat reassured that this wasn't a spur-of-the-moment decision but a calculated investment based on the emerging internet business landscape.
Still, Landon remained somewhat doubtful about the success of this investment.
'It would be a miracle if we even got our money back,' he thought to himself.
Sensing Landon's reservations, Seok-won's smile grew more mysterious as he made an unexpected suggestion.
"How about a bet?"
Landon looked puzzled as Seok-won continued to smile.
"Let's bet that within five years—no, three years—Netscape's valuation will exceed $1 billion," Seok-won proposed.
"Excuse me? That's ridiculous," Landon said, barely able to suppress a laugh.
"I know you're optimistic about this investment, but that's just unrealistic."
For a company that hadn't even been established yet to achieve a $1 billion valuation within three years was, in Landon's mind, impossible.
"There's no way a brand-new company could reach a $1 billion valuation in just three years," Landon declared, shaking his head.
But Seok-won's smile only grew wider. "Venture capital is all about finding a diamond in the rough, taking the risk, and reaping the rewards. I believe Netscape is that gem."
He pulled a $100 bill from his wallet and held it out to Landon.
"I'm confident this company will be my unicorn, hitting the jackpot."
Landon stared at the bill for a moment before taking it from Seok-won's hand.
"Alright, let's make a bet. While I hope your investment succeeds, I have a feeling I'll win this one."
"Well, we'll see about that," Seok-won replied, his smile brimming with confidence.
Landon couldn't help but wonder, 'Could he actually win this bet?' before quickly shaking the thought from his mind.
'There's no way that could happen,' he told himself.
TL/n -
Netscape's initial public offering (IPO) in 1995 was a landmark event. The stock's value soared on the first day of trading, closing at $58.25, which gave the company a market value of $2.9 billion.
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