Winning the new financial era

Chapter 177
Makarim, Feili, and William stared at each other. Half a day later, Makarim was the first to say, "Okay, this method is good, I agree."

Of course he has to agree!
He felt that Zhang Yida still favored himself. When Gojek’s valuation and user base were much behind the other two companies, this Chinese investor actually fought for an equity equality for Gojek.

"I also agree. I hope that Ruixiang Group can drive everyone to make progress together and make the joint venture bigger and stronger as soon as possible."

The second person to express his opinion was Philip. Their company’s valuation and size were caught in the middle. No matter what calculations, it was impossible for Traveloka to be the major shareholder and secondary shareholder.

Now it is tied for the second largest shareholder with the other two companies, which is not too bad.

"Since Mr. Zhang has spoken, I will also give him face. Tokopedia also agrees."

William did not object, but agreed to Zhang Yida's proposal, which surprised Makarim and Philip.

Just now, the CEO of the Internet company with the highest valuation in Indonesia is very strong, making it clear that he wants to overwhelm the other two companies.

In fact, William’s thinking is very simple. After the launch of the e-wallet company, with the user base of Tokopedia, it will definitely be the main force for promotion.

At that time, my company will make the biggest contribution to the e-wallet. When increasing capital and expanding shares, I will increase the shareholding ratio. Others have no reason to object!
Seeing that everyone agreed, Zhang Yida breathed a sigh of relief.

He was really afraid that several companies would fall apart, and the plan of the joint venture company would be aborted.

The purpose of Ruixiang's investment in Indonesia is to integrate the local Internet power and become a sharp knife that stabs the entire Southeast Asian market.

If Ruixiang came to Indonesia to set up a mobile payment company by itself, it would be too difficult to do business.

There is no political relationship, and the market is not familiar, so it is difficult to become bigger and stronger.

With the support of these leading parties, things will be much easier to do.

Moreover, the mobile payment business involves a huge amount of funds and a huge amount of user personal information, and many countries, including Indonesia, are strictly regulated.

The Indonesian central bank also requires that foreign capital must cooperate with Indonesian practitioners to develop mobile payment services.

That is, you can come to my country to invest, but you must bring people from our country to play with you.

Similar to China's previous auto industry, trading the market for technology.

Ruixiang directly holds 49% of the shares of the joint venture company, and indirectly holds 5% of the shares through three Indonesian Internet companies, adding up to 54%.

As for the future, whether the shares will be diluted.

Just like what Zhang Yida said, as long as it can promote the business growth and value of the joint venture company, you are welcome to increase your holdings.

The plate is small, even if the holding is 100%, there is no two money.And if the plate is big enough, even holding only 1% of the shares is worth a lot.

After the four parties negotiated, under the witness of the lawyer, signed the capital contribution agreement.

William also suggested signing a supplementary agreement, the content of which is that the subsequent capital increase and share expansion should be divided according to the contribution of shareholders.

Those who make a large contribution enjoy the right to increase capital; those who make a small contribution are not eligible to increase their holdings and can only passively dilute their shares.

The supplementary agreement is very detailed, taking into account how to evaluate and measure the contribution, and various situations.

Three Indonesian local Internet companies help e-wallets to promote new users as contributions, and Ruixiang provides advanced technology and technical personnel as contributions.

It is fair and just to include their respective resources.

The name of the e-wallet is R.Pay, which is the initial letter R of Ruixiang, combined with the English Pay for payment.

As the major shareholder of the joint venture e-wallet company, Ruixiang is also a shareholder of the three companies, so the product naming rights will naturally be taken over.

R.Pay, as the first payment product of Ruixiang to go overseas, should be brought back to China to brag if necessary.

It placed Zhang Yida's high hopes, and Rui needed to use it to hype the concept of "transnational financial giants" in order to increase its value in the next round of financing.

Before leaving Indonesia, Zhang Yida met the founder of a start-up company, Akima Zaki.

Achima is the founder and CEO of Bukalapak, an Indonesian e-commerce company.

This company is a deadly rival to Tokopedia, which Zhang Yida previously invested in, just like Ahri and Goudong in China.

Bukalapak is an Indonesian local e-commerce platform company established in 2011. Its products cover home appliances and furniture, digital products, beauty and personal care, men's and women's clothing and other categories.

In addition, they are also selling air tickets and train tickets, and even financial products and investment services are also involved.

The financial business is also doing very well, and mutual funds, gold trading and other sectors are all online.

According to the post-investment valuation of US$1 million, Zhang Yida invested US$1000 million in them, occupying 10% of the shares.

The investment funds were withdrawn from Yimin Wangjin's account, and the name of the investment was also in the name of Yimin Wangjin.

After all, Tokopedia is also in Indonesia. It is not good to invest in the name of Ruixiang.

Zhang Yida was betting on both sides, betting on the entire track, not a single player.

No matter who wins in the future, there will still be some money.

At the same time, it is to hedge the risk of Tokopedia's $8000 million.

……

After Zhang Yida and his party left Indonesia, they went to Singapore.

In Singapore, Zhang Yida was going to visit three companies.

The first company to go to Sea Group is a company known as the "Penguin" in Southeast Asia.

Sea was founded in Singapore in 2009 by Li Xiaodong, a Chinese born in Tianjin. Its predecessor was CG-Game, which has some connections with Chen Ou.

Sea has three major platforms, all of which are in the leading position in the "Greater Southeast Region" including Wanwan: Garena, the No. [-] electronic entertainment platform, Shopee, the No. [-] e-commerce platform, and Airpay, the No. [-] e-wallet.

Li Xiaodong extended a warm welcome to Zhang Yida and his party.

Zhang Yida knows that Penguin is Sea's biggest financial backer, holding nearly 40% of the shares.

However, considering that there are not many companies with growth potential in Southeast Asia, I decided to try my luck at Sea.

"Mr. Zhang, Ruixiang and Sea are brother companies. You want to invest in Sea, and I welcome it."

After Zhang Yida expressed his intention to come, Li Xiaodong said with a smile on his face.

Seeing this, Zhang Yida felt that there was a connection, and asked again: "Then what is Sea's current valuation?"

"They are all brother companies, so I will give Ruixiang a preferential price of 25 billion US dollars.

Our external quotations all start at 30 billion US dollars. "

Li Xiaodong didn't go around in circles with Zhang Yida, and directly quoted the price.

"As far as I know, Sea's revenue last year was US$1.4 million, and its net profit was -US$9000 million!

Does Mr. Li have any views on future profits? "

Sea is indeed similar to the domestic magnesium group. It has been losing money for many years, and Zhang Yida was still losing money in the year of his rebirth.

It belongs to the kind that loses more and has higher market value.

Because the core data is soaring, Southeast Asia has a population of 6.5 million, and its financial report reports that there are 3.2 million active users...

Social + games + e-commerce + financial technology, all businesses with a lot of room for imagination are in its hands.

“E-commerce platform Shopee and e-wallet Airpay, these two businesses are heavily subsidized.

As for the games business, we have always been profitable.

After the user circle comes in and the activity is maintained, it will be about two or three years later, and it will be almost time for full profitability! "

Li Xiaodong obviously understands the Internet model very well, and he has adopted many domestic styles of play.

Zhang Yida thought to himself: No wonder the natives of Southeast Asia can't beat him.Li Xiaodong has started to play with ecology, and many start-ups in Southeast Asia are still in the stage of fighting on their own.

"Let's do this! Ruixiang will invest 2.5 million US dollars in you!"

Zhang Yida remembers that Sea’s market capitalization peaked at US$185 billion, and now it’s not a loss to start with US$25 billion, as long as you can get more shares, you can get more.

"It's not that much, just invest 1 million to 1.5 million US dollars."

Li Xiaodong smiled lightly, for financing, the more shares are released in the later stage, the less shares will be released.The 20%-30% dilution like the early stage financing would be too bad.

"Then invest 1.5 million US dollars! This time I invested in Southeast Asia, I brought a lot of money, and I will not be willing to spend it all!"

Zhang Yida did some calculations in his mind, 5.67% of the shares are considered important shareholders who have passed the 5% shareholding line.

……

The second stop came to Lazada, where CEO Maximilian Bitner gave a grand welcome to Zhang Yida and his team.

Lei Dongming talked with Lazada last year, but the situation was not particularly ideal, mainly because of the valuation.

In December last year, Lazada completed its G-round financing of 12 million euros led by Temasek and followed by Rocket Internet, and its valuation was pushed up to 2 billion euros in one fell swoop.

"Mr. Bitney, the last time I came here, the valuation was not 12 billion euros."

Lei Dongming was a little angry. In just a few months, the German big nose who went to Southeast Asia to do business has raised his price again.

"Mr. Lei, you also know that was the price last time. It's been a few months, how can the valuation not go up?

Moreover, our business has grown rapidly this year, and we have made great progress in six countries including Singapore, Malaysia, Thailand, Vietnam, the Philippines, and Indonesia. "

Maximilian Bitney smiled brightly. This is the second time for these Chinese local tyrants to come to him. He guessed that they really wanted to buy shares in Zanda.

The German people also welcome Chinese local tyrants who buy and buy all over the world!
Zhang Yida took out his mobile phone and checked the exchange rate. 12 billion euros is equivalent to 13.1 billion US dollars.

In April next year, Ahri will take a $4 billion holding in Lazada, which is equivalent to a valuation of $10 billion.

In less than a year, more than 50% of the income return.It's a good deal.

Zhang Yida agreed to the investment deal on the spot, acquiring a 1% stake in Lazada at a price of US$7.1 million.

"Don't worry! Chinese friends, you will feel lucky for this investment in the future."

Big Nose was very happy. He felt that he still underestimated the financial resources of the Chinese people. He thought: Will they agree to my offer of 15 billion euros?Hey, it's a loss.

……

On the third stop at Grab, Zhang Yida met founder Chen Bingyao and co-founder Chen Huiling.

Both of them are Malaysian Chinese who graduated from Harvard Business School, and Chen Bingyao is still a "rich third generation".

Tan Peng Yew's grandfather built a car empire from scratch - Tan Chong Motors, which is currently the manufacturer and distributor of Nissan Motor in Malaysia.

It's not as good as Guo Henian and Guo Lingcan's family, but it can be regarded as a rich family, the kind that has been rich for three generations.

When Zhang Yida came over, he still wanted to talk to the other party about buying a share. The biggest unicorn in Southeast Asia couldn't be let go anyway.

(End of this chapter)