Shenhao started as a military training anchor

Grab headquarters in Singapore.

Grab board members disagreed on how to deal with Hawley.

CEO Chen Bingyao also directly showed off his cards.

If you want to continue fighting, yes, you have to come up with money and bear at least half of the losses in the subsidy war, so that you can continue to fight with Holly.

If you feel that burning money is too aggressive and you don’t want to fight, that’s fine. You have to find a way to make Holly stop.

Grab started out by relying on online ride-hailing, and online ride-hailing accounts for a very large proportion of its revenue.

If the online ride-hailing market is severely squeezed, Grab's market value will be severely reduced even if it has businesses such as food delivery and e-commerce.

From the start of the subsidy war to now, Grab's market value has dropped from more than 90 billion to more than 80 billion.

Including the money invested in the market, the company lost nearly 15 billion in this online ride-hailing war.

Instead, Holly took Yi Su all the way.

It has entered the Southeast Asian market strongly, and its valuation is heading towards 300 billion.

When the two met at the Singapore Financial Summit last year, the market values ​​of Yisu and Grab were about the same. In less than a year, Yisu's valuation was more than three times that of Grab.

Judging from the current market situation, it already feels like it can’t squeeze the thigh with its arms.

Temasek and Toyota advocate peace and ending the war, and finding common interests for negotiations.

But Didi and Uber advocated continuing the fight.

These two families and Yi Su are enemies who have never been in contact with each other until death.

In the Chinese market, Holly beat Didi three times.

In the North American market, Hawley gave Uber a shot in the arm.

As the two major shareholders of Grab, we can bring the war with Holly to Southeast Asia. Why not?
Didi CFO Liu Qingdao: “Judging from the current market situation, although Yisu’s market share has surged, our order volume has also shown a growth trend.

The situation is unclear now. If I get discouraged at this time, based on my understanding of Holly, I will definitely pursue him fiercely, and the losses will be even more serious at that time.

Must hold on. "

Koslow, Uber’s global president, agreed with Liu Qing’s view.

The two wore the same pair of pants and catered to each other.

Chen Bingyao nodded and said: "OK, keep fighting, you can get the money."

Liu Qing and Koslow immediately took a stand and assumed half of the losses.

Because Chen Bingyao holds 63% of the voting rights, the board of directors passed a resolution to continue the subsidy war.

Grab once again spent one billion funds to compete with Yisu.

That night, Holly and Zhang Lei had a meal together as friends.

Hillhouse Capital is still a shareholder of Grab, and Zhang Lei will not disclose the contents of Grab’s board of directors to Holly in private.

For example, tactics, capital investment... he would definitely not talk about these things.

I just said that this subsidy war will continue.

Holly smiled and could guess at a glance that Didi and Uber’s decision must be behind this.

The two companies let Grab continue to fight with Yisu, and they got a breather in their respective markets.

It seems that they are spending real money to support Grab, but it is actually a transfer of war.

"Don't give up until you reach the Yellow River." Holly said, "June is the typhoon season in Southeast Asia, right?"

Zhang Lei clinked glasses with Holly and didn't understand what Holly meant.

Holly smiled.

If you still refuse to bow to Brother Huo, let the typhoons in Southeast Asia blow more violently.

At the end of May, Yisu spread the flames of war from Jakarta to five Southeast Asian megacities: Kuala Lumpur, Singapore, Bandung, Manila, and Bangkok.

Full bloom.

Chen Bingyao broke out in a cold sweat. He originally thought that Holly would continue to fight with him in Jakarta, a city worth tens of millions.

Unexpectedly, he directly opened the battle line and launched a fierce attack on Grab on multiple battlefields.

One billion is simply not enough to burn.

Until now, the battle is not about strategy and tactics, but about family wealth.

Simply and crudely, money is being thrown around Southeast Asia like paper.

Chen Bingyao gritted his teeth and gritted his teeth.

On June 1st, the two companies each lost more than 40 million.

The average daily order volume in Southeast Asia’s online ride-hailing market has exceeded 10 million.

This is something that has never happened since the rise of the online ride-hailing industry in Southeast Asia. Grab’s average daily order volume is only about three million.

It is an online ride-hailing platform in the same echelon as T3 in China.

This time with Holly, the entire market experienced explosive growth.

Grab’s single-day order volume reached 5 million.

The order volume skyrocketed, and Chen Bingyao panicked.

Subsidies will become larger and larger, and there will not be enough money to burn.

Not only that, the Grab platform has never served such a large number of orders.

The server and scheduling system simply collapsed.

On the other hand, Yisu has a technical team of 100 people working day and night in the Singapore operations department. Orders of several million are a piece of cake for Yisu.

No money to burn.

Technical services cannot keep up.

What does Grab use?

It has only been twelve days since Chen Bingyao last held the board of directors, and the board of directors was held again.

This time he, the CEO, the person with the most voting rights in the company, took the initiative to sue for peace and end the war.

Scared.

I want to surrender.

It is hoped that Toyota and Hillhouse Capital will act as intermediaries to coordinate Yisu and Grab.

Holly smiled when he received Zhang Lei's call. In all likelihood, he was still using the same tricks he used to deal with Didi and Uber.

Let Yisu sell the Southeast Asian market to Grab, and Grab will exchange shares. Yisu will become Grab's major shareholder, and Holly will become a member of Grab's board of directors.

Holly went.

As he expected, Chen Bingyao proposed the idea of ​​exchanging shares for the market.

It’s all down to this, your idea is a bit too naive.

Yisu is not Didi or Uber. Now that Yisu has the market advantage, what qualifications do you have to raise conditions?

The two intermediaries, Hillhouse Capital and Toyota, did not say anything. It all depends on Holly's attitude.

Holly said bluntly: "Mr. Chen is not sincere enough."

At the board meeting, Liu Qing, Koslow and others all looked at Holly.

Liu Qing knew Holly best. After hearing his words, she vaguely felt that Holly had a greater ambition hidden.

Chen Bingyao said: "Mr. Huo, if you have any other conditions, we can negotiate."

Holly did not beat around the bush with them and directly stated his attitude, "Grab's stock market has been suspended to cooperate with Yisu's acquisition.

Mr. Chen can retain certain shares and continue to serve as Grab CEO. "

The board members all looked shocked.

Only then did Chen Bingyao realize that the subsidy war was just Holly's method. He had been aiming to acquire Grab from the beginning.

Asking him to sell the company he has been running for ten years, he must be very reluctant to do so.

Even if we lose the online ride-hailing market and still have the e-commerce and food delivery markets, Grab can still maintain a market value of tens of billions.

It would be better than him going to work for Holly.

Now it depends on whether the major shareholders will put pressure on him?
Toyota and Hillhouse Capital, as co-investors of Grab and Yisu, advocate merger and acquisition plans to maximize the interests of shareholders.

Didi and Uber opposed the proposal and agreed with Chen Bingyao’s proposal to exchange shares for the market.

All eyes turned to Temasek, the angel investor, and SoftBank, the largest shareholder.

Temasek CEO He Jindao said: "Both options are beneficial to Grab's future development and safeguard the interests of shareholders."

The meaning is obvious. As an angel investor, I accept it. You can discuss it yourself.

In the end, it depends on how SoftBank expresses its position?

Misha, vice president of SoftBank Group, said: “I support Mr. Chen’s proposal.

Grab has been deeply involved in the Southeast Asian market for many years and knows the Southeast Asian market best. Mr. Chen is a very good CEO. I believe that Grab will develop better and better under his hands. "

Holly smiled. After years of hard work, he was beaten by Yi Su until he surrendered and asked for peace?
Can Chen Bingyao, an outstanding CEO, compare with Huo Ge, CEO of the Year?
Holly asked Misha directly: "Is this your answer or Mr. Sun's answer?"

It means, let Son come and talk to me.

(End of this chapter)