Reborn: Billionaire in College

Once again arriving in the capital, Guan Yifeng and Li Fu followed Chen Pingjiang as usual.

"I'll consider buying a private jet." After being watched by the enthusiastic crowd once again, Chen Pingjiang made a secret decision.

What is important to Chen Pingjiang now is privacy, which civil aviation cannot provide. If he accompanies other girls in the future, maybe the whole world will know about it.

Why was the relationship between Boss Wang and Miss Tian exposed back then? Wasn’t it because sharp-eyed netizens took a picture of the two of them together on a flight? If Boss Wang had a private jet at the time, he wouldn’t have been secretly photographed.

On the other hand, Chen Pingjiang has been traveling more and more frequently, and civil aviation flights are fixed, which is very inconvenient for Chen Pingjiang. With a private plane, he can go wherever he wants. Especially for some airports that do not have direct flights and need to transfer, the role of private planes is reflected.

After leaving the airport and getting on a special car, Chen Pingjiang and his party went straight to AutoNavi's headquarters.

"During this period, have you obtained any information from your contacts with the AutoNavi team in Beijing?" Chen Pingjiang and Bu Housheng were on the left and right of the business car.

"No, they are still very alert and never tell me the approximate price."

"They only have 2000 million US dollars in cash on their books, about 1000 million US dollars in cash equivalents, an estimated 7000 million US dollars, and 50 million US dollars in various loans. The ideal premium for the acquisition is 100%, and it is best not to exceed %."

也就是说高德方面的实际价值也就2.6亿美金，溢价50%大概4亿美金，溢价100%大约5.2亿美金。

Chen Pingjiang thought about it for a while and nodded: "Well, this price is about right."

There is no standard for the specific premium of an acquired company. It all depends on the importance of the company in the future strategy of one's own company.

Microsoft acquired Blizzard at a premium of 45.3%, and Musk acquired Twitter at a premium of 38%.

The most amazing thing is that a certain company spent 6 million to acquire a small company with a net asset of only 1500 million yuan, with a premium rate of 40 times, which resulted in a letter of inquiry from the China Securities Regulatory Commission.

There are too many tricks involved.

Behind the high-premium acquisition, there may be suspicion of helping related parties to get out of trouble or hyping up the company's market value. In addition, there are also hidden risks such as performance betting and goodwill impairment.

"Nice to meet you again, Mr. Chen."

When the two sides met again, Cheng Congwu still seemed a little unhappy.

No one would be happy to give away the child that I had raised with so much effort. Although I had a good talk with Chen Pingjiang last time, I still felt melancholy when this day finally came.

At this point, it is impossible not to sell, as it will damage the business reputation.

Besides, all shareholders except him wanted to sell, and Cheng Congwu had no veto power. AutoNavi was not structured as an A-share company, and Cheng Congwu did not have a veto power.

However, he also figured it out. AutoNavi's name would not be changed and he would still be the CEO. It would simply be a one-time buyout of the money he would earn in the future.

Hou Jun on the other side first put forward his own point of view: "We will discuss the specific price later. Before that, we must first determine the transaction method. After discussing it, we hope to use the cash + stock method to trade."

Chen Pingjiang smiled and exchanged glances with Bu Housheng next to him, then turned back to Hou Jun and shook his head: "Sorry, we only accept cash transactions."

Renren is not short of money. In fact, it has so much money that it can't spend it all. Wouldn't it be crazy to use stocks instead of money?

Besides, Renren's stock has been favored in the long term and has great room for appreciation.

To take a step back, even if Renren had no money, Chen Pingjiang would still take out a loan.

"Why? Mr. Chen, can you tell me the reason?"

"No reason. Renren is an overseas company. It is very troublesome to exchange shares. The review by the US Securities and Exchange Commission takes a very long time. Besides, Renren has enough shareholders."

This old guy Hou Jun has a lot of power behind him, but Chen Pingjiang doesn't like someone with such a complicated background to get involved in his company.

Of course, AutoNavi prefers cash + stocks. By exchanging stocks, it can directly enter the country's number one Internet company. Even if it is just a small shareholder, the value is extraordinary.

In the future, everyone just needs to have confidence in Renren’s stock price, and they can enjoy both the equity premium of Renren and the dividends brought by the appreciation.

"Giving cash in one hand and shares in the other hand makes everyone feel relaxed, right? There's really no need to go through so much trouble. If you use Renren shares as consideration, it's likely to involve additional taxes. The all-cash method is in line with market practice."

Hou Jun gave a helpless smile and said, "I just wanted to give it a try. If Mr. Chen doesn't want to, then forget it."

After thinking for a while, Chen Pingjiang gestured: "Our first offer is 4 million US dollars."

Before Cheng Congwu could say anything, Xiao Jun frowned and said, "It's a bit low, Mr. Chen. As long as it is successfully listed, AutoNavi's market value will be more than 4 million."

"Mr. Xiao has already mentioned the market value, which is 4 million. If you want to cash out, you will have to wait for half a year and the cash-out quota is limited each time. Wouldn't it be better to get the money earlier and retire earlier to travel around the world? Anyway, I think my offer is quite sincere. Everyone uses the market method, and the conclusions they come to should be similar."

"Market law is market law, and specific cases need to be analyzed specifically. AutoNavi has the largest market share in both maps and navigation, and is about to go public. The most important thing is that our A-level test and A-level navigation qualifications are not easy to obtain."

The two sides entered a tug of war.

It’s basically the same negotiation method as buying groceries.

Chen Pingjiang said: "Although AutoNavi is doing well now, I don't think Baidu and Tencent will not make efforts. Once the big companies leave, can AutoNavi still maintain its first place in market share?"

"Mr. Chen, let me be honest with you. 6 million US dollars is the result of our unanimous discussion. We think this number is more appropriate."

"Cheng Cong, 4.5 million, this is my bottom line!"

"5.5 million, this is our most sincere price."

"5.3 million, my bottom line can be a little higher, but I can't accept anything higher."

At this time, Cheng Congwu and the other two looked at each other and finally nodded: "Deal."

Seeing this, everyone present was visibly relieved.

This price is slightly higher than what Chen Pingjiang and others estimated, but it is acceptable.

Renren is rich, but that doesn't mean it's a sucker. Chen Pingjiang stood up with a smile and shook hands with everyone in front of him: "Congratulations, Mr. Xiao's retirement wish has come true."

Xiao Jun smiled and said, "Thanks to Mr. Chen."

Xiao Jun is not young anymore, and it can be said that among the three founding members, he is the one who wants to sell the most.

The agreement is jointly drafted by lawyers from both parties and becomes effective when both parties sign their names.

The next day, Renren issued an announcement to the outside world, announcing the merger.

As a listed company, this step is indispensable.

This also caused Renren's stock price to rise as soon as the U.S. stock market opened that evening.

After the news came out, the one who felt the most uncomfortable was Baidu.

Even someone as gentle and refined as Robin Li was so angry that he wanted to smash the cup.

If Gaode was just Gaode, Baidu would be confident that it could kill it, but when there is a giant standing behind Gaode, it will be in a daze.

To be honest, Baidu's business acumen is sometimes even better than Chen Pingjiang's.

Take autonomous driving for example. When Baidu was developing it, almost no one had heard of new energy vehicles. Later, new energy vehicles became popular, but no car company used its technology.

Robin Li claims that Baidu has reached the L4 level, but no one buys it.

Chen Pingjiang even wanted to join in and go to Baidu to take a look. You spent so much time and money, where are the results?
Baidu has tried almost every opportunity, but none of them worked.

Payment, takeout, audio, AI, nothing has been done.

If Baidu wasn’t really rich, I don’t know how many times it would have died.

It once spent $19 billion to acquire 91 Assistant, but it was eventually shut down.

YY was just bought for US$36 billion, but it instantly became a hot potato and was shorted, with its stock price plummeting by nearly 30%.

The two parties announced their "breakup" a year after acquiring the self-media company "Li Jiaoshou" for 100 million yuan.

It spent hundreds of millions of dollars to acquire Nuomi and spent 200 billion yuan but failed in the local life sector.

The acquisition of PPS for US$3.7 million and its integration into iQiyi still had no effect.

The acquisitions of "Super Patrol" and "What to Watch Tonight" had no effect, and then they spent $1500 million to acquire "Magic Picture Wizard", which became popular for a while but then disappeared.

Internet takeover hero, a truly conscientious enterprise in China.

Those who are doing well will be acquired by Alibaba and Tencent, and those who are not doing well will be acquired by Baidu.

The fact that the investors did not rebel and give in to Robin Li was enough to amaze Chen Pingjiang.

"Our acquisition is not targeting any third-party company. Amap will be incorporated into Renren's huge ecosystem and become a part of it. As long as humans are engaged in production and life, they will inevitably have geographic information, such as traveling, ordering food, shopping, traveling, socializing, etc., which naturally requires location services and the visualization and analysis of massive geographic big data." Chen Pingjiang said bluntly in an interview: "All Internet giants, our daily lives of food, clothing, housing and transportation are related to maps. I personally welcome all companies to cooperate with Amap. We will open the API interface within this year."

Some are happy, some are sad, and some are greatly inspired.

Chen Pingjiang has proven his vision through countless actual combat, which has led to a surge in map concept stocks.

However, what no one expected was that just three days later, Renren made a strategic investment of up to 100 million US dollars in JD.com.

This time, Lao Ma couldn't sit still anymore.

The most frightening thing about Renren or Chen Pingjiang is its huge traffic.

Whether it is Renren, Weibo, Zhihu or WeChat, they are all social software. As long as they are social, they naturally come with traffic. Even Orange phones can be considered a traffic entrance.

Only Chen Pingjiang doesn't worry about where the traffic comes from. Companies like Alibaba are always worrying about traffic.

Renren makes a living by selling traffic, and Alibaba acquires companies everywhere for traffic.

Amap, Focus Media, and UC all follow the same path.

"Chen Pingjiang's approach is really wild, so wild that I can't quite understand it. He offended Baidu, Alibaba, and Tencent all at once."

"Chen Pingjiang is not inferior to them. There are only so many tracks, and the big companies are all mixed in and strangled."

…………

"Sit down, sit down, you're welcome, there are only three of us here today." Chen Pingjiang greeted Cheng Congwu and Dongzi with a smile.

He specially called the two of them over today to get together and strengthen their relationship.

AutoNavi and JD.com have been labeled as part of the Renren system and have boarded the Renren chariot. They will follow Chen Pingjiang in his charge into battle in the future.

"Old Cheng, don't be so serious and relax." Chen Pingjiang personally poured wine for Cheng Congwu, which made him feel flattered.

"As for me, I am very grateful that you can stay and continue to lead AutoNavi forward. AutoNavi is very important in the future structure, and you have a heavy burden. But the ecosystem is the ecosystem, and AutoNavi will always be independent. I don't need AutoNavi to lose its market share by serving the ecosystem. On the contrary, the group will use all its resources to help AutoNavi defeat Baidu and Carlife." Chen Pingjiang said: "Don't worry about traffic at all. As long as AutoNavi is connected to Orange Mobile and WeChat, it is equivalent to mastering a huge traffic entrance."

"It's the same with JD.com. Renren, Weibo and WeChat bring you traffic, and you help me promote payment. We all get what we need and make progress together."

"Besides, JD.com's logistics business also relies on maps, so it's a good opportunity for AutoNavi and JD.com to cooperate."

Cheng Congwu and Dongzi were both very emotional. They used to fight alone and were bullied. Now that they have found their big brother, their proud days are finally here. (End of this chapter)