Winning the new financial era

Chapter 196
"Mr. Liu, I have an appointment with you today. I mainly want to talk to you about the future of the bike-sharing industry."

In a private clubhouse in the capital, Zhang Yida and Liu Da, a partner of Happy Capital, drank tea by the sea and chatted.

"Bike sharing? The future of the industry?"

Liu Dahai was a little puzzled, yesterday the venture capital king Shen Beipeng sent him a message: Zhang Yida wanted to meet him.

Liu Dahai didn't think much about it. He thought about it: he and Zhang Yida had never known each other before, and it was definitely a business-related matter for him to find him.

The companies in Zhang Yida's hands, whether it's Ruixiang, Yimin Wangjin, Huimin Travel...all of them are delicious!
People like Shen Beipeng and Xu Xiaoming have made a lot of money next to Zhang Yida, the God of Wealth.

Could it be that Zhang Yida wanted to seek investment from himself?
It's not necessary, he wants to raise funds, and if the news is released, the threshold will be broken by venture capital institutions...

"Yes! Huimin Travel Group intends to integrate industry resources and reshape the industry order after obtaining a new round of financing of 15 billion U.S. dollars."

Zhang Yida nodded slightly, revealing the next move for Huimin's trip.

"Integrate the industry... do you want to buy Baimo Bicycle?" Liu Dahai said in surprise, remembering that the only connection between himself and Zhang Yida was this Baimo Bicycle.

"Yes. The bike-sharing industry has entered the second half and is bound to usher in a reshuffle.

Wouldn't it be better for Baimo Bicycle and Huimin Bicycle to merge and seek common development?

Mr. Liu, what do you think? "

Zhang Yida picked up the teacup, took a sip, and observed Liu Dahai's reaction.

The topic Zhang Yida raised made Liu Dahai startled, but he quickly regained his composure and replied calmly:

"I respect the opinions of the founding team. As an investor, it is not convenient for me to express my views on this."

Zhang Yida didn't believe that he wasn't tempted. How long had he invested in Bicycle?Not even a year.

In such a short period of time, the projects invested will be rewarded, which is something that many venture capital institutions cannot ask for.

There are many ways to exit venture capital: IPO listing, equity repurchase by the founding team, and mergers and acquisitions.

Zhang Yida knew: Liu Dahai just wanted an archway!Just set one up for him.

Staring at Liu Dahai, Zhang Yida went on to say: "The bike-sharing industry has now entered a state of vicious competition.

Bikes are free to ride and there is no charge.In the future, who will pay for the operation and maintenance costs of bicycles, employee salaries, and the production of new bicycles?

Is it possible to burn VC money all the time?

It's time to return to the essence of business. If it goes on like this, everyone will have to be buried together.

Mr. Liu, you have been a venture capitalist for so many years and have rich experience. You must be able to tell the difference between good and bad business strategies.

I heard that Happy Capital invested USD 3000 million in Bimo, which is not a small amount, and the sunk cost is too high. "

Liu Dahai remained silent, he knew what Zhang Yida said.

Happy Capital invested USD 3000 million in Baimobike in its A round of financing, and after the dilution of the B round of financing, it still holds 22.5% of the company's shares.

It can be regarded as spending a lot of money on this project.

After a year of development of shared bicycles, he also has a clear view of the future development direction: it will definitely be an era of large capital investment and large capital operation.

Can Baimo become the final victor?This is hard to say, there is some hope, but not much hope.

The gap with Huimin Bicycle is already there, and it will become bigger and bigger.

Smooth the gap?Catch up with Huimin Bicycle?
Let’s start with a one-time financing of 100 billion!

Otherwise, Baimo will continue to raise a round of financing of 20 to [-] million U.S. dollars, and Huimin will raise another round of [-] billion U.S. dollars...

How to fight this battle?Shared bicycles with no money.

If you sell yourself now, you should be able to get a good price, and everyone will happily take the money and leave.

If it's too late, I'm afraid it won't be able to sell at a higher price...

Sighing, Liu Dahai said, "Mr. Zhang, tell me what you think!"

When Zhang Yida heard this, his eyes lit up, and there was a door.Quickly said: "Mr. Liu, I think so. Bimo Bike merged into Huimin Bike, the purchase price can be divided into two parts, one part is the additional equity issued by Huimin Travel, and the other part is cash..."

After Zhang Yida finished speaking, Liu Dahai frowned slightly: "Mr. Zhang, the purchase price of 2.5 million US dollars is a bit low!
With such a low price, I can't convince Fu Weiwei and the others. "

Zhang Yida glanced at him, and thought: 3000 million US dollars entered the market, nearly doubled in half a year, and he is still not satisfied.

You can't be too greedy in life, accepting what you see is the kingly way.

Zhang Yida thought about it for a while, and then said: "Let's do this! Give Mr. Liu a face and increase the price to 3 million US dollars."

Liu Dahai was still about to speak, but Zhang Yida interrupted him, saying: "A friend of mine once said that it is better to pay half the price to beat them than to buy them.

But he is a foreigner, a foreign business society, and interests come first.

We Chinese are different, we pay attention to harmony and prosperity.Unless it is absolutely necessary, there is no need to play this trick. "

Zhang Yida was talking about Chen Bingyao. In his previous life, he was unwilling to buy GoJek. The reporter asked him, and he replied to the reporter.

Liu Dahai thought about it. If the purchase price was 3 million, Happy Capital's 22.5% stake would be worth 6750 million US dollars, and the return on investment would more than double, which is not bad.

Although this is a bit far from the ten times or eight times return he wanted, considering the pressing situation, it is not a decent ending.So he replied:

"I dare not give Mr. Zhang a guarantee. I can only say that I will try my best to convince the founding team."

"It's okay, just do your best!"

Zhang Yida said generously.

……

"Brother Bin, Zhang Yida is going too far, inciting other shareholders to force us."

Fu Weiwei came to Li Bing's office and began to complain.

"Don't worry, come on, drink some water first."

Li Bing poured Fu Weiwei a glass of water and comforted him with a smile.

"Can I not be in a hurry? There is a fire in our backyard. If this continues, people will not be in harmony, and the team will not be able to lead.

This Zhang Yida is really too despicable, he can play all kinds of dirty tricks.

You laughed and negotiated with us that day, and stabbed you in the back.

The person is not big, but the bad water is full of belly. "

Fu Weiwei looked angry and scolded Zhang Yida all the time.

"The shopping mall is like a battlefield, and it is very normal to use these methods."

Li Bing looked at Fu Weiwei and thought: You are still too young!

"Flies don't bite seamless eggs, those shareholders are originally doing venture capital and only value commercial interests.

Now Zhang Yida promises some benefits, so naturally go with him! "

Li Bing has nearly 20 years of entrepreneurial experience, and has seen many types of venture capitalists, and he has long been familiar with them.

"Liu Dahai and several investors in our B round of financing have come to speak well for Zhang Yida.

Say something like "the situation is grim", "a decision must be made early", "choice is greater than effort".

When the company was doing business before, I didn't see them so caring.

Now that there is an opportunity to merge and exit, one is more attentive than the other. "

Fu Weiwei continued to start the complaint mode, "spraying" investors.

"Normal operation. How many projects can these small investment institutions successfully exit a year?
Is it not necessarily a perfect exit after being listed?Broke, the stock price is low, and there are too many.

Now that there is a merger and acquisition project, they are naturally holding on tightly. "

Li Bing is very calm, he is very clear about the little Jiujiu of those venture capital institutions.

Fu Weiwei pursed her mouth and said aggrievedly:

"But they can't collude with Zhang Yida and come here to force our founding team?"

Li Bing smiled, shook his head and said:
"It cannot be said that they are colluding. In fact, they are on our side.

We all have one common interest: selling the company for a good price. "

Fu Weiwei was stunned for a moment, and soon realized that it was indeed the truth!
Brother Li Bing is worthy of being a big boss, he is so rational in analyzing problems, he is still too rookie, he needs to learn more.

Li Bing continued: "Now the venture capital institution is the middleman between us and Huimin.

We have to make good use of it.In fact, it would be nice if there was someone in the middle of the conversation, and Zhang Yida and we wouldn't fall apart. There would always be a step down. "

Fu Weiwei nodded, very much approved of these words, and said: "But this is very inefficient! Our 7-day agreement with Pang Lei expires in two days.

In case Huimin’s talks collapse, Ahri’s investment will also be missed..."

Li Bing tapped his fingers on the table, this problem is indeed difficult, if one is not handled well, Baimo may die without a place to bury him.

Suddenly, Li Bing thought of a good way and said, "Well, you can talk to Pang Lei. Just say: the company's shareholders have disagreements, and they need to discuss it again, and let them give them another week's time.

Huimin, speed up the negotiation.Results must be available within a week.

If you still can't talk well after a week, then stop thinking about it!Decisively choose Ali. "

Fu Weiwei felt quite embarrassed. If she finally negotiated the acquisition with Zhang Yida, wouldn't she be playing a trick on Ari?
Offending such a giant, it may be difficult to start a business in the future...

Seeing that Fu Weiwei didn't speak, Li Bing knew that the girl had a moral and cleanliness addiction, and persuaded:

"Don't worry. So what about Ali? Their venture capital department often plays entrepreneurs like this.

If you reach an agreement with Zhang Yida, tell him not to disclose the news of the merger.

As for Ari, you just politely reject him.

A giant like Ari, as long as you help him take care of his face, nothing will happen.

Even if it suffers a loss, it will not be passed on to the outside world. "

Fu Weiwei struggled for a while, but nodded in agreement with Li Bing's plan.

"Bingge, what is our psychological price?"

Li Bing thought for a few minutes before saying, "Zhang Yida has already offered 3 million US dollars, which is an increase of 5000 million US dollars compared to when he negotiated with us.

I'm guessing it certainly didn't reach his bottom line.

His bottom line is estimated to be between $3.5 million and $4 million.

Let's talk according to this, and don't let go until the last moment. "

"Okay! Understood!"

Fu Weiwei nodded, she was quite satisfied with this valuation range and could accept it.

(End of this chapter)