Winning the new financial era

Chapter 176 Shareholding Ratio Dispute
The traffic in Indonesia is very congested, and it was already three hours before the convoy arrived at the central business district of Sudirman, south of the capital Jakarta.

Looking at the skyscrapers standing on both sides of the road, Zhang Yida nodded secretly. When he got here, he finally felt like the capital of a country, which could catch up with the top second-tier cities in China.

The vehicle stopped in front of a brand new office building, and a group of people got out of the car, went upstairs and entered Gojek's headquarters.

Gojek's headquarters is located on the 26th floor of the building, and the entire floor is rented. The decoration is beautiful, and it is more luxurious than the offices of many Internet counterparts in China.

Zhang Yida asked Aluwei about the rent, and Aluwei told him 56 million rupees per square meter per month, which is about 250 yuan per square meter per month in RMB.

It is not much cheaper than the rent of Grade A office buildings in Beijing. Gojek spends several million RMB on rent a year.

After Zhang Yida and his team entered Gojek, hundreds of programmers were still typing codes at open workstations.

Zhang Yida took a few glances and found that most of the people had darker complexions, so they should be indigenous people.There were not many Chinese with lighter complexion, only a few people were seen.

Entering a luxurious conference room, Zhang Yida met Fili Unadi, the founder and CEO of the Indonesian version of "Ctrip" Traveloka.

And William Tanuviaya, the founder and CEO of the Indonesian version of "Taobao" Tokopedia.

Both of them could tell from their looks that their complexion was fair and their appearance was Chinese, so they should be of Chinese descent.

From the Ming and Qing Dynasties to the Republic of China, many Chinese from Fujian, Guangdong and other places chose to go to Nanyang to seek a living, and thus formed the famous population migration in modern Chinese history-Going to Nanyang.

These ancestors and descendants who went to Nanyang, while striving hard, also seized the opportunities of the times, and finally accumulated a lot of wealth.

Many Chinese have had a huge impact on the economy of Southeast Asia, changed the backwardness of the host country, and completely changed the destiny of themselves and their families.

Zhang Yida knows that in traditional industries, the Chinese chaebols in Southeast Asia play an important role.

Unexpectedly, in the Internet industry, it will soon be monopolized by Chinese Americans.

The three largest unicorns in Indonesia in the future are either CEOs or co-founders.

Philip and William met Lei Dongming last time, and Lei Dongming negotiated with them about the investment.

So Lei Dongming came forward to introduce the two parties, and Feili and William greeted Zhang Yida warmly.

In their view, Zhang Yida is a local tycoon from China, the big money maker behind the scenes, and the company needs a lot of help from the other party in terms of financing in the future.

He not only talked in Chinese, but also said that he would take Zhang Yida to experience the enthusiasm of the Indonesian people.

After chatting for a while, Sifang began to return to the topic.

"This time I came to Indonesia mainly for the establishment of an e-wallet joint venture between our four parties.

On the way from the airport, I also chatted with Aluvi from Gojek, and got a general understanding of the status quo of mobile payment in Indonesia.

To be honest, I think Indonesia's mobile payment infrastructure is still poor and very unpopular.

Improving this backward situation is also conducive to the promotion and improvement of Gojek, Tokopedia, and Traveloka in the local Southeast Asian market.

In China, taxi-hailing software, online travel software, and e-commerce software all use the latest mobile payment technology.

Basically, Internet users in China have one or more e-wallet accounts.

To set up an e-wallet company, in addition to technology, we also need usage scenarios.

We, Ruixiang Group, can provide technical support. The three companies belong to taxi-hailing, e-commerce, tourism and other fields, and can provide users with rich usage scenarios.

But three scenarios are far from enough. In the future, e-wallets can also be expanded to offline merchants, restaurants, hospitals, public transportation systems, shopping malls... and many other scenarios.

In China, Mobao Pay of Ruixiang Group has more than 1 million C-end active users, and there are more than 1000 million small and micro enterprises and merchants who cooperate with B-end to provide usage scenarios.

E-wallet is destined to be a big outlet, and the market potential is large enough.

Our four parties join hands to be number one in Indonesia first, and expand to the entire Southeast Asian market in the future.

Three, also talk about your ideas! "

After listening to Zhang Yida's words, all parties reacted differently.

Makarim, the CEO of Gojek, frowned. The e-wallet is indeed an outlet, but in a four-party joint venture, each company can't share much?
Moreover, among the four companies, Gojek is the smallest, with a valuation of less than US$1 million.

In the case of a joint venture, the right to speak will not be gained much.

The CEO of Traveloka, Philip, nodded and expressed his approval of Zhang Yida's words. Many of Traveloka's businesses are limited by mobile payment technology and cannot be fully utilized.

He has heard about China's mobile payment technology for a long time, and it is definitely among the best in the world.

If Ruixiang is willing to provide mobile payment technology, he is very supportive of the joint venture.

Tokopedia CEO William, with a smile on his face, asked:

"Mr. Zhang, I am in favor of this joint venture. How should the equity be allocated?
I suggest ranking shareholders according to the valuation of each company! "

William made a good idea. Among the 4 companies present, apart from Ruixiang, Tokopedia has the highest valuation, which has reached 8 million US dollars.

Zhang Yida didn't answer, he also saw that Tokopedia wanted to be the second shareholder of this joint venture company.

He didn't have much opinion on this, but turned his attention to Makarim and Fili to see how they responded.

"Ruixiang Group's valuation is as high as tens of billions of dollars, and it is also the technology provider of the joint venture company. I have no objection to it being the major shareholder of the joint venture company.

But in the case of our three companies, I suggest an equal distribution of equity. "

Speaking of Makarim, Ruixiang is more than a hundred times larger than Gojek, and is an important shareholder of Gojek. He supports Ruixiang as a major shareholder.

Because it not only brings advanced technology, but also a steady stream of money...

Although Tokopedia is valued at US$8 million and its volume is several times larger than Gojek, how can it be so good?

Makarim believes that Gojek is no worse than any other company, and the lag is only temporary, and it will be a matter of minutes to surpass Tokopedia and Traveloka in the future.

If you are willing to share the equity equally with the two companies, you are worthy of them.

"It doesn't matter to me, it's fine to distribute the shares equally or be the third largest shareholder."

Fili stated that the valuation of Traveloka reached 4.5 million US dollars after sharp investment.

For Traveloka, there is not much difference whether it is sorted by valuation or the shares are divided equally among the three companies.

"Electronic wallet companies need subsidies after their establishment. Let's put together 5000 million US dollars first!

If Gojek pays 1000 million US dollars for a share, I agree that the three parties will share the equity equally.

Makarim, what do you think? "

William smiled. He is very clear about the situation of Gojek. Since its establishment, it has completed two rounds of financing of 1500 million US dollars.

Not to mention asking them to pay 1000 million US dollars, it is estimated that it will be difficult to pay 500 million US dollars.

William's tactic of using money to suppress people was indeed ruthless. Makarim's face was livid with anger, and he said:

"$5000 million to set up a startup?
I would like to ask Mr. Tanuviyaya, how much money did you invest when you founded Tokopedia?

As far as I know, when Tokopedia was founded, it was just you and your friend.

Do you have $10 in starting capital? "

William shook his head and said, "Yes, it was really difficult when I founded Tokopedia, and there was not much venture capital.

But times have changed.E-wallet is a money-burning business. Without sufficient capital, you are not eligible to participate in this game.

Just ask Mr. Zhang in China, how much did they subsidize Ruixiang Group in the mobile payment business last year? "

Makarim turned his gaze to Zhang Yida, who was speechless, why did the flames of war come to my side.

Zhang Yida thought for a while and said, "Mobao Pay lost more than 20 billion yuan last year.

But Indonesia's population is several times smaller than that of China, so the loss cannot be so much.

And without a decent payment company as an opponent, many losses can be avoided. "

Makarim and William continued to argue with each other, in order to take a little more shares in the joint venture e-wallet company.

How big is the future potential of electronic wallets?

Just look at Ruixiang Group and Leech Financial Services Group.

Electronic payment is a big gold mine, and everyone wants to get more points.

In this situation, Zhang Yida is also very embarrassed, it is not easy to sideline, it is too offending.

Gojek is valued at US$5500 million, and Ruixiang Group invested US$500 million, occupying 9.1% of the shares.

Tokopedia is valued at US$8 million, and Ruixiang also invested a full US$8000 million, accounting for 10% of the shares.

As for Traveloka, the valuation is US$4.5 million, and Ruixiang invested US$5000 million, holding 11.1% of the shares.

These three companies hold shares in the joint venture company, which means that Ruixiang Group also indirectly holds a certain proportion of shares in the joint venture company.

If it is pure pursuit of holding shares, Zhang Yida simply supports Traveloka to take more shares, and Ruixiang indirectly holds more shares.

But the account is not calculated in this way. In terms of development potential, Gojek>Tokopedia>Traveloka.

The development of Gojek is about to speed up, and within two years, the valuation and user volume will surpass Tokopedia in an all-round way.

If Zhang Yida supported Tokopedia, Gojek might be offended.

In the previous life, Gojek launched an e-wallet company GoPay alone, and became the e-wallet with the most active users in Indonesia.

So Zhang Yida has a headache, the shareholding ratio is small, and it is very likely that Gojek will start a new business in the future.

If the joint venture company does not have Gojek, the largest unicorn in Indonesia in the future, it will be difficult to achieve the number one business in China.

At the same time, he has to consider the ideas of Tokopedia and Traveloka.

Gojek’s current valuation and user volume are not as good as those of the latter two. Putting the three in the same position is likely to offend the latter two.

Makarim and William were still arguing, Zhang Yida interrupted them:

"Gentlemen, pause for a moment. Let me tell you what I think!"

Makarim and William were still trying to save Zhang Yida's face, they stopped their quarrel and turned their attention to Zhang Yida to see what he wanted to say.

"Currently the largest electronic payment company in Indonesia is Tcash, which is a subsidiary of a telecom operator.

The strength of a country's telecom operators, I think several are very clear.

In addition, it is difficult to guarantee state-owned enterprises in the future, and whether foreign giants will enter this field.

If everyone fights on their own, maybe their respective e-wallet companies are second- and third-rate.

We cannot be blinded by the short-term interests in front of us.

Take a long-term view, think about it, if we work together, the e-wallet company can reach hundreds of millions of users.

Your ride-hailing business, your travel business, your e-commerce business will all benefit.

With the e-wallet, I think it will be more convenient for many people to use your platform for business.

Users who were not originally on your platform may also be drawn to your platform because of convenience.

So, I suggest that everyone take a step back.Shares are not immutable forever.

Whoever's platform develops better and brings greater development to the e-wallet company, he is eligible to increase shares in the subsequent capital increase and share expansion.

Including Ruixiang Group, it is not necessary to be the major shareholder in the future, and one of your three companies will be in charge.

But there is a premise that the company he belongs to can lead to a larger and more promising development of electronic wallets.

So, it is pointless for us to argue about this little stake now.

So arrange it!
The initial fundraising of the electronic payment company is set at US$500 million, Ruixiang will contribute US$245 million, and the three of you will each contribute US$85.

After the development of product research and development and the first stage of promotion, we will continue to negotiate the proportion of shares based on our respective contributions and the development of our respective companies.

What do you guys think?Anyway, I think it's fair and reasonable. "

(End of this chapter)