There was a gentle evening breeze on the Huangpu River. Everyone at Phoenix Fund was in high spirits during the night tour. At this time, Liu Qing, the president of Didi, was also calling his cousin Liu Zhen.
How could Didi not pay attention to such a big thing caused by Uber (China)? Since Liu Qing has such a connection, she naturally wanted to inquire about it.
Liu Qing was on the phone in the study room of her villa. After a few pleasantries, she asked: "Jen, your Uber (China) strategy is very strange. Phoenix Fund is so strong, why don't you invest in it?"
?Instead, it’s a direct acquisition.”
At the morning press conference, Phoenix Fund President Qiao Shuang disclosed the details of the acquisition. Phoenix Fund invested US$7.2 billion to acquire 80% of Uber China's shares and renamed the company Uber (China).
At the same time, Phoenix Fund will also inject US$1 billion to acquire 1.47% of Uber's shares. They will hold shares in each other.
Mutual shareholding is a common model in business. This is a reflection of the willingness of both parties to cooperate strategically.
Liu Zhen said calmly: "Jean, since Phoenix Fund has such strength and is optimistic about the travel field, and Mr. Kalanick of Uber wants to withdraw from the Chinese market, acquisition is normal."
In fact, there is a red line in the field of venture capital: it is best for any major shareholder not to hold more than 30% of the shares. Beyond this line, unless it is a particularly outstanding unicorn, no venture capital will continue to invest money.
Because the most delicious piece of the cake has already been eaten.
Uber China has this shortcoming. For example, after five or six rounds of financing for Didi, Tencent, the largest shareholder, only holds a little more than 10% of the shares. And Uber China’s controlling shareholder, Uber, holds a shareholding ratio of as high as 88.5%.
Therefore, Uber can only invest its own money to raise his son. In addition, he is currently expanding globally. For example, he is also facing competition from Lyft in North America. Therefore, Kalanick began to intend to quit after Apple invested in Didi.
Liu Qing laughed and said, "Jen, it seems that the market rumors are true. Your Uber (China) management knows nothing about the acquisition news!"
Liu Zhen said expressionlessly: "Jean, if you are calling to say something to ridicule me, then you can hang up."
Liu Qing laughed, "That's not the case. Uber (China) is Didi's biggest rival at the moment. If I don't respect you, I disrespect myself. When will Phoenix Fund take over Uber (China)?"
Liu Zhen pondered for a few seconds and replied: "Tomorrow afternoon. Jean, I'm looking forward to the start of our second match."
The good media has long written in the news: The competition between Uber (China) and Didi in the field of shared travel is the competition between a pair of "genius sisters".
In the list of the world's 25 geniuses released by the American "Wired" magazine in April, Liu Qing and Liu Zhen were both selected.
Liu Qing sneered in her heart and said: "Jen, if I were you, I would choose to resign. As the head of strategy of Uber (China), he doesn't even know about the equity change, so how can he lead the battle?
In addition, I don’t think this is the beginning of our second battle. Phoenix Fund may have strong funds. But the power of your shareholders is too weak. If the subsidy war continues, all venture capital in China will not agree.
Next, it will be just a state of anxiety, and then there will be a new round of merger negotiations. Now we are just trying to get as many negotiating chips as possible."
Although the outside world compares her with her cousin, she actually knows very well that her cousin has no say in Uber China’s affairs. Uber China’s regional managers report directly to Kalanick.
Her cousin is only responsible for government and media public relations. In the eyes of the outside world, Liu Zhen is the spokesperson of Uber China. But everyone in the industry knows the inside story. Liu Zhen is far from her position in Didi.
She deliberately raised her cousin to the same height as herself, but it was just a superficial courtesy.
Liu Zhen suddenly smiled and said: "Jean, then I will not resign. That's it, goodbye."
After hanging up the phone, Liu Zhen walked to the balcony of her room and stared at the Huangpu River. According to her previous schedule, she was currently communicating with Uber headquarters and reporting on her work. Today she was free.
Although Liu Qing's phone call was both a gun and a stick, it did put a thorn in her heart. She should probably consider leaving her job.
First, she has been back in China for more than a year. Her uncle is a recognized godfather in the Chinese business community and an unwavering leader. She still understands the power of the shareholders behind Didi. If Phoenix Fund just has more money, it will definitely not be able to withstand the pressure of mergers.
If Alibaba's Jack Ma and Tencent's Pony Ma work together to promote a merger, how many technology companies in China can refuse?
There is a high probability that none can be found.
Second, she was really unhappy. They, the pioneers of Uber, relied on their ideals, missions, and culture to come together, not on shares. So it was okay not to give them shares, but not to give them at least respect?
What’s the point of staying?
As for Phoenix Fund’s plan, who knows what’s going on? It’s so normal for her to be ignored as an iconic figure of Uber China. Who doesn’t understand the connotation of the co-CEO thing?
…
…
On the morning of the next day, Jing Gao was eating breakfast in the dining room of Room 3102 of Baijinwan Mansion, reading the newspaper sent by Guan Yujia.
All of them are news about Phoenix Fund’s acquisition of Uber (China). And what Xiao Qiao said, “US$9 billion is just a small business.”
Of course, there are positive reports in the newspapers. Phoenix Fund held a press conference yesterday to give "travel expenses".
"Hey, when did the relationship between you two get so good?" Jing Gao put down the newspaper and asked funnyly when he saw Yan Ting and Guan Yujia chatting quietly together and drinking soy milk.
Yan Ting's elegant smile, almond-shaped eyes and cherry lips, "You don't understand women's friendship. I can talk to Guan Guan very well."
Guan Yujia said shyly: "Mr. Jing, when you went to the yacht yesterday to answer the phone, Sister Yan and I talked a lot." Only then did she know why Sister Yan would follow Mr. Jing without any status due to such a good condition.
Mr. Jing was so angry that he was not prepared to take tens of millions for the beauty. Sister Yan was still full of sweetness and gratitude when she mentioned it last night.
Jing Gao remembered what happened when he answered the phone last night. When he and Weiwei were in a strong relationship, she went back to her hometown for the summer vacation. They were chatting on the phone about the night view of the Huangpu River, and naturally the topic expanded and they agreed to visit him when she returned to Beijing.
Pick her up at the station.
Shaking his head with a smile, Jing Gao ate the soup dumplings. The soup dumplings in Shanghai are very famous, with thin skin and thick soup.
While eating, Jing Gao's phone suddenly rang. Jing Gao answered the phone, and Ouyang Wan's charming voice came from inside, "Good morning, Mr. Jing."
"morning."
Ouyang Wan is a good person in social circles and went straight to the topic, "Mr. Jing, I just heard the news. The executives of Uber (China) have doubts about Phoenix Fund and are not optimistic about your ability to compete with Didi.
Shareholder power, prepare to resign. When you go to take over the company in the afternoon, you must make some preparations. People like Uber (China) can compete with Didi and not fall behind, many of them are talented people."
She is in Shanghai and has a clear view of the competition between Uber (China) and Didi. The employees and strategies of Uber (China) are all in the style of Xiaoling Kuai, and they are not inferior at all in the competition with Didi. The only thing
The difference is money. And this is exactly the strength of Phoenix Fund.
Jing Gao knew it well and said, "Ms. Ouyang, thank you."
As a powerful person, he entered the business field not to make money, but to expand his influence.
To use the simplest analogy, suppose he wants to build a villa in his hometown of Haizhou to experience the life of nature. Can he get the land smoothly by quietly being a god? He must take care of everything.
So, if he is the boss of a well-known domestic company and returns to his hometown to invest in the tourism industry, will it be easy?
If you want to be a powerful person and live a healthy life, social influence is indispensable.
Therefore, he hopes that Uber (China) can be the first in the travel field!
This chapter has been completed!