Winning the new financial era

Chapter 178

"Mr. Zhang, in fact, I made it very clear when Mr. Lei came over last time.

Grab currently has no shortage of development funds, and will not rashly disrupt our financing rhythm.

We expect to start the E round of financing in August, you should wait a few more months! "

In Grab's large and bright conference room, Chen Bingyao is talking with Zhang Yida in English.

He is a Malaysian Chinese, but he can't speak Mandarin and Hokkien, which Zhang Yida couldn't understand, so he just communicated in English the whole time.

Through the huge floor-to-ceiling windows of the meeting room, you can see the endless coastline along the coast of Singapore. Zhang Yida is also thinking in his heart: how should this move in Southeast Asia be played?
Chen Bingyao, Zhang Yida only talked with him for a few minutes, and he saw that he had a strong desire to control and a strong goal.

Once you make up your mind, you won't change it easily.

"Mr. Zhang, we at Grab have always admired and learned from China's Ruixiang Fintech Group.

We also established a research and development center in Beijing, China this year.It doesn't matter even if the financing cannot be negotiated, we can still cooperate in many fields. "

Chen Huiling, the co-founder of Grab, is much more euphemistic than Chen Bingyao.

Ruixiang Group is more than 10 times larger than Grab, and it is a well-known company even in China.

In the field of Internet finance, besides Leech Financial Services, we must count them.

This kind of company, if you can make good friends, you must make good friends.

Zhang Yida has also heard about Grab's R&D center in Beijing.

This is the first Internet company in Southeast Asia to open a branch in Beijing, which is indeed a bit eye-catching.

As for the purpose, it is not difficult to guess: one is to enjoy the bonus of Chinese engineers, and the other is to absorb Chinese talents and Internet models to help Grab complete the localization in Southeast Asia.

At present, Grab has completed the promotion and layout of taxi-hailing software in many countries in Southeast Asia, and has gradually turned its attention to food delivery, express delivery, grocery delivery, online payment and financial services.

This trick is also learned from Chinese companies, and it is determined to become a super APP.

A super APP provides users with a variety of Internet services, and at the same time gathers traffic to feed back various businesses.

“Hearding that Grab has launched its own electronic GrabPay, this step is indeed prophetic.

I also predict that e-wallets will become the next entrepreneurial outlet in the Southeast Asian Internet market.

In addition to mobile payment, I judge that Internet funds, Internet insurance, online wealth management, consumer credit and other financial segments also have huge opportunities.

If Grab is interested in cooperating with Sharp, Sharp can transplant all these businesses to Southeast Asia.

GrabPay only guards a mobile payment, and its strength is weak. There are local competitors in Southeast Asia, and giants may enter in the future.

Spin off Grab and develop into a large financial holding company. I think it should be better able to adapt to the fierce competition environment that we will face next. "

Zhang Yida’s words are sincere. He just wants to promote Grab’s splitting of the e-wallet, independent financing and independent development.

R.Pay is considered a move, plus Grab.Pay, and Air.Pay, which has an indirect shareholding in Sea Group, and the larger e-wallet companies in Southeast Asia are all in the urn.

Chen Bingyao shook his head and said:
"Mr. Zhang, I'm afraid you don't know much about the Internet market in Southeast Asia. Except for e-wallets, the sub-sectors you mentioned, such as funds, insurance, lending, and wealth management, are currently difficult to implement.

There are 11 countries in Southeast Asia with a population of 6.5 million. The development of each country is very uneven, including differences in economy, politics, and cultural customs.

In China, the Internet infrastructure is in place, and a good idea can be valued at tens of billions of dollars and hundreds of millions of users in two or three years.

But in Southeast Asia, we can only promote it one by one, and we have to deal with the government agencies of each country.

Some countries have local protectionism, you are not allowed to enter and develop business, and the market can only be occupied by their local companies.

In addition, when entering the markets of different countries and carrying out corresponding financial services, local regulatory policies must also be followed.

Regulatory authorities in some countries or regions will also impose strict license entry thresholds.

I have said so much, which means that we have to base ourselves on the present, do a good job in mobile payment first, and then talk about other things.

I know that Ruixiang Group has achieved impressive results in various financial segments in China.

But the region is different. This is Southeast Asia, and many Chinese models will not work here.

Without localization transformation, it is difficult to achieve success. "

"Having said that, it's always right to plan ahead."

Zhang Yida still agrees with Chen Bingyao's words. The Southeast Asian market seems to be a hot spot for entrepreneurship, but there are many pitfalls. If you don't work hard for three to five years, don't think about the harvest.

In the previous life, after Lazada was acquired by Ahri, several capital injections were added, and a total of billions of dollars were invested in Southeast Asia.
Revenues are surging, but profits are still far away.

If you want to develop in Southeast Asia, you have to be prepared for a protracted war.

"China's domestic Internet dividend has reached its peak, and Ahri, Penguin, Goudong, and Qiandu will gradually turn their attention to the Southeast Asian market.

In addition, many small Chinese start-up companies are already gearing up and eager to go overseas.

Grab's layout in advance and early planning can also seize more markets.

If Mr. Chen doesn't agree with me, then just take it as a joke! "

Zhang Yida also got a little impatient. He came all the way from China to invest in you, gave you money and technology, and you pushed me out.

I am in a hurry, and I will fully support R.Pay and Air.Pay to fight for you.

In the future, Sea Group's e-wallet company Air.Pay will also be split and upgraded to become an independent financial group. While carrying out more financial businesses, it will also open up financing.

If GrabPay doesn't let itself take a stake, save the money and invest it in Air.Pay.

Chen Bingyao is also weighing the gains and losses. Grab's most important business at present is taxis, followed by food delivery, and then it is the turn of e-wallets.

The current GrabPay is just a chicken rib, with only 200 million users.

Do you want to dismantle it and give it to Ruixiang Group as a joint venture?

After the joint venture, Grab can obtain sufficient development capital and technology to carry out more and richer financial businesses.

At the same time, all the money saved by the group can be spent on taxi-hailing and food delivery business, which can reduce the burden a lot.

But what if the e-wallet is split and the control is lost?
According to Zhang Yida's tone, China's giant companies are going to promote e-wallets.

WeChat Pay and Paybey are not good friends. They are backed by two parent groups with a market value of hundreds of billions of dollars. They need money and technology.

"Mr. Zhang, GrabPay can be spun off and operated as a joint venture with Ruixiang Group.

But I have a condition, that is, to implement the AB share model. "

Chen Bingyao still made a decision and decided to cooperate with Ruixiang Group, but the control of the company had to be in his own hands.

"We are not a venture capital company, we not only contribute money, but also technology.

It's better to have both!

You hold 51% of the shares, and we hold 49% of the shares. "

Seeing that Chen Bingyao finally let go, Zhang Yida put forward his own conditions.

Investing in Grab is not enough, and getting an e-wallet is not bad.

"It's too much, I will give you 30% of the shares at most, and you have to use the AB share model."

Chen Bingyao is very strict about control rights. He knows that if GrabPay wants to become bigger and stronger, it must spend money.

If you don't engage in AB shares, and follow-up capital increase and share expansion, it is easy to change the position of the host and the client, and Ruixiang has become the controlling shareholder.

Compared with money, even if you count your own family, it can't compare with Ruixiang Group.

After arguing for a long time, everyone took a step back. Chen Bingyao agreed to Ruixiang's request for 49% of the shares, and Zhang Yida also agreed to the other party's AB shares.

GrabPay is priced at US$5000 million, and Grab, as the parent company, will inject another US$100 million in cash, which is equivalent to investing US$5100 million in the new company, accounting for 51% of the shares.

Ruixiang sent a technical team to Singapore and brought various financial technology patents of Ruixiang Group, and the price of the technology was 2000 million US dollars.

In addition, Ruixiang Group injected another US$2900 million in cash into GrabPay.

Ruixiang technology and cash invested a total of 4900 million US dollars, occupying 49% of the shares of the new company.

After the e-wallet business was settled, Zhang Yida became much closer to Chen Bingyao and Chen Huiling.

After exchanging with each other about Internet policies and regulations in their respective countries and their respective entrepreneurial experiences, Chen Huiling suddenly asked:
"Mr. Zhang, you still have a bike-sharing company in China called Huimin Bicycle, right?"

"Ah... yes, what's the matter?"

Zhang Yida was a little curious, how did he talk about shared bicycles.

"Grab is an Internet company that focuses on travel, has Mr. Zhang ever thought about getting Huimin Bike to cooperate with us?

Let Huimin bicycles go to sea and operate in Southeast Asia.

We Grab can set up a joint venture with Huimin Bicycle to establish a shared bicycle company, and Ruixiang will provide technology and capital, and Grab will be responsible for localized operations. "

Zhang Yida didn't know why this Chen Huiling fell in love with shared bicycles.

Bike going out to sea, Fof and Baimo did it in the previous life, and the momentum was quite big, but it turned out to be anticlimactic, and all of them died overseas.

"Yes! Let's do a pilot in Singapore first, and then promote it to other countries if the effect is good."

Grab also launched its own shared bicycle brand in its previous life, but its popularity is not particularly high.

Southeast Asia is not particularly suitable for the promotion of shared bicycles, but motorcycles are more suitable.

However, Zhang Yida did not reject the kindness of others, sharing bicycles going abroad is also conducive to the improvement of fame and social value.

However, Zhang Yida will not lose money and make money. Some countries and regions that are not suitable for sharing bicycles are determined not to enter.

Fortunately, Singapore is a garden city, and the quality of its citizens is not bad. It should not damage bicycles.

In the previous life, the little yellow car entered Manchester, England, and 1000 cars were released, and it is said that they were all broken...

This is still a developed country. In terms of quality, it is not as good as China.

"Okay, we can jointly establish a brand and put 1000 bicycles in Singapore to try."

Chen Huiling smiled, Zhang Yida's straightforwardness was somewhat beyond her expectation.

After staying in Singapore for a few more days, he hired a team of accountants and lawyers to implement the joint venture e-wallet and joint venture bike sharing. Zhang Yida then returned to China.

Zhang Yida went back alone, while Lan Lan and Lei Dongming continued to complete the trip to RB, South Korea and India as planned.

(End of this chapter)