What's wrong with me being a rich man?

Chapter 531 Bull Demon and Snake God
Bi Sheng's Letao.com didn't last.

However, I have indeed felt greater pressure since last year.

The consecutive IPOs of e-commerce giants JD.com and Alibaba have had a significant impact on the entire vertical e-commerce market.

Tmall launched "Tmall Global" in 13 to seize the cross-border e-commerce channel, and launched the "Brand Clearance" channel in 14, directly targeting the flash sale model of Letao.com and Vipshop.

JD.com acquired Paipai.com from Tencent, expanding into apparel and beauty categories. Its self-built logistics system now covers 90% of districts and counties nationwide, with delivery times exceeding those of all vertical e-commerce platforms.

The concept of vertical e-commerce, which was quite popular a couple of years ago, is about to be cut off without anyone noticing.

Letao.com and Vipshop are already considered to be doing well.

In the third quarter of last year, Bi Sheng approached Vipshop twice to explore more cooperation possibilities to meet the challenges, but no progress was made due to major differences between the two parties. This time, taking on a broader project in the lower-tier market is truly finding a new world to explore.

After he got started, he became confused: why hadn't any of his peers tried this more before?

After much deliberation, Bi Sheng met with investor Xu Xin in Lingang and realized that the giants' influence was indeed too great, not only in the actual market but also in the realm of ideas.

Of course, it's not certain that Pinduoduo will succeed right now, but the feedback from those who tried it out was far better than expected.

Therefore, when we meet Brother Yu again after the holiday, the specific arrangements will be announced.

Pinduoduo will nominally be an internal incubation project of Letao.com. The angel round will only raise $10 million for initial validation. After seeing the results in June, the next round of financing will be discussed.

This angel round saw Falcon Capital and Today Capital each invest $500 million and acquire a 15% stake.

Yu Xing then realized that Red Falcon had also joined in.

He was somewhat amused and exasperated: "The kestrel hasn't even shown its face yet, why are you including it? You shouldn't be so concerned about the Lingang area."

Carbon Silicon Data will not appear on Pinduoduo's shareholder list in the early to mid-stages to avoid causing any disruptions. However, there will be some cooperation on traffic. But, for this type of project, snowballing in the early stages will rely more on WeChat and Wechat. The traffic from Lingang is only better than nothing.

“Wanying and I are mahjong buddies, so of course we do things together. You know about Alibaba selling its Meituan shares, right?” Xu Xin said matter-of-factly. Seeing Yu Xing nod, she continued, “It’s easy for Lingang to stay out of it, but people will consider Lingang.”

Yu Xing looked at President Xu, knowing there was more to come.

Xu Xin said with a smile, "Wanying talked to me about helping a friend acquire Meituan shares. I also talked to Wang Xing, but Tencent strongly opposes it. President Yu, they strongly oppose it."

Yu Xing frowned slightly.

“Look, Wanying told me that without considering the Lingang factor, it’s just a financial operation, but while you think it’s financial, they don’t see it that way,” Xu Xin threw the question back at her. “So tell me, should we withdraw or not?”

Seeing that Yu Xing didn't speak immediately, she said, "Anyway, I'll listen to you, Mr. Yu, this time. You're the one who decides."

Yu Xing was silent for a moment, then sighed, "This is really annoying."

He shook his head slightly: "What did she say? She definitely doesn't want to back out."

Guoshanfeng is inherently ferocious, and now that he has encountered this easy prey in front of him, with his competitor on the other side, how could he possibly back down?

Xu Xin laughed, not surprised by their mutual understanding, and said, "Wanying and Wang Xing talked. The newly appointed President Ren and President Liu are completely different in style. Today they can oppose this matter, and tomorrow they may oppose other decisions. Theoretically, this matter should only be a matter between us and Alibaba."

Yu Xing nodded, feeling that this explanation should hit Wang Xing right in the heart. Ren Yuxi's completely different way of doing things could easily lead that talented person from one danger zone to another.

He knew this matter wouldn't be resolved quickly, so he simply said, "Liu Chiping came from Goldman Sachs. He's quite rational when it comes to investing in Tencent. Ren Yuxi, what do you think of him?"

“He doesn’t seem like… the CEO.” Xu Xin gave a negative review, then shook her head and said, “I haven’t had much contact with him, so my evaluation may be biased. However, for the current Penguin, perhaps what it needs most is change. So, I haven’t seen Pony give him a gag order. He probably wants to see what changes this will bring to the Penguin.”

If you don't change, you'll lose. This trend is already evident in the competition of short videos. Changing your approach might offer a way out.

Yu Xing laughed and said, "That makes sense. Ren Yuxi's public persona is just a facade. It's said that Tencent is going to increase its investment in technology. Weishi and Weichat have merged again. It seems that they are going to compete on differentiation. On the other hand, Leyin... well, let's not talk about that."

He could go on and on about this, but he has a lot of work to do. In short, Leyin is not good enough in terms of traffic base and algorithm technology, but the data on the surface is very prosperous.

Bi Sheng plans to stay in Lingang until he finishes watching the launch event for the Silicon Carbon Group. Pinduoduo's incubation base will also be located in Shanghai, because the Yangtze River Delta region can directly connect with many sources of goods, which will facilitate faster cooperation.

As the second week of February passed and the third week of the Silicon Carbon Group's Sunday press conference began, Lingang suddenly became bustling with activity.

Although the official website and various platform accounts claimed that the 19th and 20th were designated as media and public days for visiting, and that special receptions were set up, the groups of people who came to Hong Kong in advance all had their own reasons.

Institutional shareholders such as IDG, Qiming Venture Partners, and Zhejiang Industrial Investment Group naturally came to show their support. In addition to those with direct interests, many investment institutions that had not cooperated with Lingang Carbon Silicon also came after hearing the news.

Carbon Silicon Lingang has two very clear business directions: vehicles and the internet. However, the participants this time were roughly split 50/50. Some were observing the current state of the new energy industry, while others were planning to pursue further financing cooperation with Douyin.

In addition, founders of many new energy projects that have been initiated or are still in the PPT stage have also arrived in Lingang ahead of schedule.

What Yu Xing didn't expect was that many well-known Zhejiang businessmen also came to Lingang to support their "little brother" from Haiyan.

Speaking of Yu Xing, who hails from Zhejiang Province, he is naturally the youngest brother in terms of age, but given the foundation of his business in Lingang, where he is both involved in the automotive and automotive industries, he has grown up considerably.

In recent years, Yu Xing has not been particularly keen on making friends with his fellow townsmen, and he rarely attends various chamber of commerce activities during holidays. Therefore, he was quite surprised by the arrival of Guo Guangchang of Fosun, Zong Qinghou of Wahaha, Lu Weiding of Wanxiang Group, Chen Zongnian of Hikvision, and others.

However, since they came to support him at such a crucial time, he naturally had to give them a warm welcome.

Finally, various media outlets and automotive websites also participated, including CCTV, which sent representatives to conduct interviews and recordings in advance, fully demonstrating their concern for the development of the new energy industry.

On February 17, Xiong Xiaoge, who had been drinking for two days, used facial recognition to enter the president's office of the Silicon Carbon Group.

Ten minutes later, Yu Xing, who had just finished the meeting, saw President Xiong sitting leisurely in his seat reading the newspaper and couldn't help but chuckle: "President Xiong, are you not having any drinking parties today?" "I can't drink anymore, any more drinking will interfere with business." Xiong Xiaoge waved his hand, "I didn't expect you to have old friends here for team building."

Xiong Xiaoge has extensive experience in investment. He has dealt with or had good relationships with almost everyone he met during his visit to Hong Kong, so it was inevitable that he would have a few drinks with them.

"Is there something else important?" Yu Xing asked, puzzled. "Isn't the important thing to check on the development of Douyin and wait for feedback on our new car?"

“Your car manufacturing influence is quite significant. Now that the government is supporting this sector, many people want to come and build good relationships. I think we really need to set up a high-end agritourism resort here in the carbon silicon area, where everyone can fish, drink, and discuss cooperation. That would be much better.” Xiong Xiaoge didn’t answer immediately, still somewhat surprised by the unexpected liveliness in Lingang.

Yu Xing chuckled: "Why don't you let me start a song and dance troupe?"

Xiong Xiaoge glanced at President Yu, but didn't respond to that. Instead, she got down to business: "President Yu, let me state my position first. I am firmly optimistic about the development of new energy vehicles. Even if the feedback on the new car launch is not as expected, it's fine as long as we are on the right track."

Yu Xing felt slightly relieved: "Thank you for your continued support, Mr. Xiong. This time, while it may not be the best, it shouldn't be too bad either."

"Just saying thank you isn't enough," Xiong Xiaoge said, seizing the opportunity. "President Yu, I have a small favor to ask of you."

Yu Xing was taken aback, then laughed and said, "There's more to come, Mr. Xiong, go ahead and say it."

"I am firmly optimistic about the development of new energy." Xiong Xiaoge emphasized his position again. "So, as everyone knows, IDG has invested in silicon carbon and is now in talks with several new electric vehicle projects. But this matter... I'm not sure how to judge it. I would like to ask you, as a professional, to give your opinion."

Yu Xing considered the possibility of being contacted by companies like XPeng and NIO.

He Xiaopeng of XPeng and Li Bin of NIO have both arrived in Lingang and met each other.

He asked, "Whose project is it?"

Xiong Xiaoge said seriously, "Lu Qun's Qiantu Motors, Huang Xiuyuan's Youxia Motors, and Shen Haiyin's Qidian Motors."

Yu Xing suddenly felt lost. Who? Who? Who are they all?
Who are these people? Where did they all go?
He remained silent for a long while: "Mr. Xiong, this..."

How should I put it?

How should I put this...

Xiong Xiaoge remained serious and, seeing that President Yu didn't quite understand, introduced: "Lu Qun is a car designer. He founded Great Wall Huaguan Company in 2003, and Qiantu Motors, which was just established this month, now wants to rely on his previous design experience to make pure electric sports cars."

Yu Xing's lips moved, but he didn't interrupt President Xiong.

Xiong Xiaoge said, "Huang Xiuyuan used to work in the internet industry. He ran a vertical e-commerce platform called 'Tomato Tree' that sold shoes, then a product guide website, and later a short comedy video business that received investment from Baidu. Two years ago, he invested in a mobile phone top-up company, which reportedly yielded good returns. His current venture, Youxia Motors, aims to compete with Tesla's Model S and raised 300 million yuan in angel investment last year."

Yu Xing sighed: "What can you do with 300 million US dollars?"

"Uh, not US dollars, it's Chinese yuan." Xiong Xiaoge scratched his head.

Yu Xing: "..."

A 300 million RMB angel round is being used to build cars.

“Cough, Shen Haiyin of Singulato Motors, haven’t you heard of him?” Xiong Xiaoge mentioned the third person. “He used to be the vice president of Kingsoft, and later became the vice president of 360. He also founded a car company last year called Zhiche Youxing Technology. He told me that he plans to name the car brand Singulato. The name has not been officially registered yet, but this month he just received 1500 million yuan in angel investment, in Chinese yuan.”

Yu Xing suddenly felt a tickle in his throat, quickly took a sip of tea, and said helplessly, "More than 200 million US dollars in angel round, that's really not much, Mr. Xiong. I'm not trying to be mean, but you saw me throwing money into it with the money I made from selling WeChat. You should at least see this kind of momentum before continuing to negotiate on building cars."

Let's not even talk about 300 million Huaxia coins; 1500 million Huaxia coins is actually far from that in terms of scale.

“The automotive industry is too big, Mr. Yu. You yourself said that even if the Silicon Carbon Group succeeds, it can’t just take over the market by itself, right?” Xiong Xiaoge laughed. “The situation is different now than before. Back then, you had to invest huge sums of money. Now the supply chain is more mature, so it’s easier to do it.”

Yu Xing chuckled: "That depends on who's eating the peaches. You, Mr. Xiong, you..."

“It’s not just me, but Youxia, Qidian, and Qiantu have all come to Lingang. We all had a frank chat together,” Xiong Xiaoge said. “They have some good plans, but I’d like to hear your opinion on the specifics.”

Seeing that President Yu did not speak, he added, "It's not just us, but also local state-owned enterprises have teams here. President Yu, you see, Carbon Silicon Group is in Lingang, but other places also want to upgrade through new energy projects. Everyone came here this time not only to see what kind of new cars Carbon Silicon can sell, but also to have a reference point."

BYD just launched the "Tang" last month, but it is more like a "traditional car company". On the contrary, the carbon silicon group, which has been focusing on new energy since its inception, is very new and is regarded by many people as a new exploration of the industry direction.

A successful car company will have an immeasurable positive impact on the local economy.

Yu Xing was a little surprised: "How come I didn't know there was an inspection team from local state-owned assets?"

“They just arrived yesterday, some from Anhui Province and some from Hunan Province,” Xiong Xiaoge said with a smile. “So, I say, this time Lingang is really lively, it’s like a gathering of talents.”

Yu Xing held back his complaints, not uttering them aloud. He hadn't expected that things in Lingang had become so chaotic.

He thought for about ten seconds and then tried to persuade him, "Mr. Xiong, instead of investing like this, you might as well invest in Yu Kai's Horizon Company. His company is more reliable."

"Mr. Yu, if one out of ten investments succeeds, that's good. Angel rounds and Series A rounds don't require much money." Xiong Xiaoge said nonchalantly, "If we lose money, we lose money. It's not that big of a deal. It's just that if IDG invests, local governments might follow suit and invest, which would be quite troublesome."

He laughed and said, "You don't need to show your face. Just set up a meeting room, partition off a section, and listen from there. You won't offend anyone. That's called listening through a curtain."

Yu Xing hesitated, thinking about his schedule and those strange and mysterious people, before suddenly realizing what was going on.

He shook his head, looked at Boss Xiong who was seeking help, and decided to let these people meet tomorrow night.

However, Yu Xingxian gave a heads-up: "President Xiong, I can be quite sharp-tongued at times."

Xiong Xiaoge immediately said, "Okay, okay, President Yu, I was just afraid you wouldn't be sharp enough."

(End of this chapter)