For Xiaohuangqi, being able to get the investment from Wanli Travel is a major victory.
This is not just a matter of money. With its current popularity in the capital market, there is no need to worry about finding money, but who gives the money is very important.
If Lin Yi hadn't received the first $100 million from Xiong Chang and Robin Li, he probably wouldn't be able to survive now.
This time, it was his turn to be someone else's backer.
"$100 million?"
"right."
"Lin Yi, I must admit that your courage exceeds my imagination. I believe Dai Wei will use this 100 million US dollars to prove your vision."
Lao Zhu, who came forward to communicate on behalf of the yellow car, seemed very excited. The money from Wanli Travel was enough to establish the status of the yellow car in the industry.
It seems that this time, I will add another classic case of using small things to make big things in my record.
Although the intentions of both parties have been basically negotiated, for such a large investment, the process should still be followed normally.
As a strategic investor, Wanli Travel was bound to conduct detailed due diligence on the yellow cars. Lin Yi left this task to professional Liu Jianni.
Then something happened.
Liu Jiani encountered some resistance in her work at Xiaohuangche. It is said that Dai Wei and his team were very resistant to her due diligence measures.
Start-up companies will have some problems to a greater or lesser extent. Lin Yi and Liu Jianni are actually mentally prepared for their management level.
However, Dai Wei may have had no experience, so his attitude was very blunt, which once caused the due diligence work to be completely stopped and unable to continue.
Fortunately, Lao Zhu is an experienced veteran. He communicated back and forth between the little yellow car and Wanli Travel, and acted as a lubricant. In the end, the process was pushed down stumblingly.
When Liu Jianni reported to Lin Yi, she said this: "We initially expected that the little yellow car was a grassroots team, and we may have overestimated them."
"According to my investigation, the other party does not have effective management, the system is lacking, the team is nepotistic, and it is very arbitrary."
"Even considering the time when it was established and the stage it is at, compared with those mature entrepreneurial teams, it can only be said to be quite naive."
"Dai Wei is said to have been the president of the student union in Guanghua. I don't know how he got involved, but in terms of the tightness of the organizational structure, Little Yellow Car can't even compare to the student union's play house."
"Ignoring everything else, I think the biggest problem is its financial management. At the current level, I think it is very dangerous to hand it $100 million."
Lin Yi chuckled lightly. He was not too surprised to hear such a comment. He even comforted his CFO and said:
"It doesn't matter, we can talk about everything."
His first question to the other party wasn't directed at the management team.
"Lao Zhu, I'm not talking about you. I read the charter of the little yellow car. Why did you make it into such a mess?"
"Before we came from Wanli Travel, we had only completed Series B financing. Surprisingly, in addition to Dai Wei himself, there are two investors who have veto power. Are you bullying other people's children because they don't know how to do it?"
Lao Zhu just laughed at this, while Dai Wei, who was present at the same time, seemed very awkward.
He actually called him a kid.
Lin Yi didn't know that he had unintentionally aroused someone's sensitive nerves, and he still made his request loudly:
"It's a bit unkind of you to do this. I don't care how you discussed it before. After Wanli Travel comes in, only our family can veto it with one vote."
Of course Lao Zhu objected: "You can't say that, you have to say it's on a first-come, first-served basis. I haven't heard that later investors can still make demands to early investors, and I haven't heard that even if they have a veto power, they can still ask for it back."
, you are making things difficult for me."
"Why don't you give me one more vote?"
Lin Yi rolled his eyes on the spot and emphasized with emphasis: "It was all rejected with one vote. It's useless for you to count one more vote for me. I think the word "good to fool" is written on my face?"
"How much money did you give Dai Wei? Wanli Travel is prepared to pay you 100 million US dollars, not to play the veto game with you."
"Anyway, let me put it here, we won't pay until this matter is resolved."
Lao Zhu naturally refused to give up his rights easily, and he was arguing with great energy. Lin Yi just gritted her teeth and refused to let go. At most, Liu Jiani would be left to quarrel with her old acquaintance.
This matter was discussed back and forth for two rounds, and the final result was that after this round of financing, only Wanli Travel and Dai Wei were allowed to have veto power.
Yes, due to Dai Wei's persistence, he himself was able to retain it, and Lin Yi also approved it.
Dai Wei is somewhat grateful to Lin Yi for this matter. This makes the situation of the board of directors simpler, but it also means that the importance of traveling thousands of miles to the little yellow car has become more and more prominent.
Unfortunately, this gratitude lasted only a short time.
Because Lin followed up and put forward a second condition: "Based on Jenny's due diligence at Xiaohuangche, we believe that you still have many immature areas in management and internal control."
"In order to ensure the safety of the US$100 million invested by Wanli Travel, we hope to send a financial director to supervise the use of large amounts of funds."
As soon as he finished speaking, Dai Wei on the other side had already categorically rejected: "This won't work!"
"One of the most basic principles when we do financing is that we cannot interfere with the management and operation of small yellow cars. This applies to all investors equally."
Although Dai Wei didn't say anything harsh, he was very emotional, probably because he wanted to express his firm attitude.
Lin Yi glanced at him and explained patiently: "I don't want to get involved in your business. I came up with this idea purely for the sake of financial security."
"After all, according to Jenny's inspection, what do you think of your finances...just like your famous attraction in P University."
Dai Wei immediately realized that what Lin Yi was talking about was the "One Tower Lake Picture", which is the collective name of Yanyuan's iconic Boya Tower, Weiming Lake and the library.
What he wants to express here is obviously a homophone: a complete mess.
Lin Yi didn't mean to play tricks. He felt that he was subtle enough, but it seemed that he accidentally stepped on the other person's tail.
Dai Wei stood up abruptly and replied with a decisive tone: "If the finances are controlled, how can there be any business independence?"
"No need to discuss this issue!"
The three people present were surprised by his reaction, but Lin Yi was not frightened by him and just emphasized calmly:
"This is also a necessary condition for me. Without this, Wanli Travel would not invest."
"If you don't vote, don't vote, it's your loss!"
Dai Wei was unexpectedly tough, and he didn't finish even saying such a sentence. He simply left the table and walked towards the door, as if he wanted to leave directly.
Because Lao Zhu was unprepared, he was unable to catch Dai Wei in time.
In his opinion, although Lin Yi's demands were many, they could not be called excessive, and it was out of the question to say that he was deliberately making things difficult.
Naturally, you have to pay a price to get 100 million U.S. dollars, not to mention the support of Wanli Travel is of special significance to the bike-sharing industry.
In his heart, he was actually not very satisfied with Dai Wei. Even if the negotiation really couldn't work out, there was no need to react like this. I don't know what kind of monster he was doing.
Lao Zhu made a decision for a second, then turned around and apologized:
"Sorry Lin Yi, Jenny, he may be a little too impulsive. We can discuss this matter again. We will contact you later."
After this explanation, he hurried out to catch up with Dai Wei.
The sudden end of the negotiation in this way was obviously beyond everyone's expectations. Lin Yi asked strangely: "Did I say anything that was particularly unpleasant?"
Liu Jiani spread her hands and said she had no comment.
Lin Yi laughed a few times indifferently. The reason why he wanted to choose the yellow car was not because he admired the other team's team, but simply because he didn't want to see it do evil again.
"We treat ourselves as nothing more than a piece of cake, but it seems that some people still only treat us as a piece of garlic."