The next day, Chen Dongcheng and Cai Bingyao met. They shook hands and exchanged a few words, and then quickly got to the point.
When Cai Bingyao met, he first complained: "Mr. Chen, we are really forced to raise Series C financing so quickly.
Uber has put too much pressure on us. If we don’t raise funds, we will not be able to hold on to the Malaysian market.”
Chen Dongcheng asked directly: "Which capital is willing to invest in this round?"
Cai Bingyao answered very quickly: "There are currently several capitals that are very interested, among which Tiger Management is the most willing to lead the investment.
Several venture capital investors from the previous Series A also plan to follow up, but Mr. Chen still has no answer.”
Chen Dongcheng nodded, there are quite a few people who are optimistic about Cai Bingyao.
It has to be said that Cai Bingyao, who has a family to rely on, can make countless entrepreneurs envious to death.
The energy of his family makes it easy for him to chat and laugh with various venture capital partners.
As long as Didi performs well, Grab's financing will go smoothly.
Cai Bingyao observed Chen Dongcheng's expression and continued: "Currently, Tiger Management intends to give us a valuation of US$180 million. We plan to raise US$60 million in this round."
Chen Dongcheng is quite satisfied, at least Cai Bingyao has not lost his mind.
This valuation is not much different from when Chen Dongcheng invested.
It seems that Uber has put too much pressure on Cai Bingyao, so he is willing to take out more shares in this round.
In exchange for a large amount of funds being deposited into the account, a lot of support will be provided for a while.
Chen Dongcheng smiled and said: "I have no objection to the valuation, but I want to invest more in this round. Is that okay?"
Cai Bingyao smiled and shook his head: "Of course, no problem, this is your right."
The next step is to discuss the division of investment amounts for this round.
Tiger Management, as the lead investor, requires at least 10% of the shares.
Chen Dongcheng does not intend to let his shares be diluted and needs to invest US$6 million in this round.
After dividing the remaining quota, Chen Dongcheng obtained another 5% of the shares, which was the limit that Cai Bingyao could accept.
The venture capital investors who entered the A round before were also asked to divide the investment share. You have to give them face, right?
Chen Dongcheng only needs to spend another 12 million US dollars to obtain another 5% of Grab's shares.
Cai Bingyao watched Chen Dongcheng review the investment agreement and sign it.
Cai Bingyao shook hands with Chen Dongcheng and said: "Thank you for your trust. I will definitely lead my employees to fight this counterattack."
"The enemy of my enemy is my friend. If you have any difficulties, you can tell Didi more. After all, you are also global allies."
Chen Dongcheng smiled and patted Cai Bingyao on the shoulder: "I will get the funds as soon as possible to fight this battle well. I am waiting to attend your celebration banquet."
"Okay, I will definitely invite you then."
Cai Bingyao nodded solemnly.
After walking out of the company, the smile on Chen Dongcheng's face disappeared.
He knew that Cai Bingyao planned to sacrifice shares in exchange for financing.
Taking this path undoubtedly represents walking a tightrope.
The only thing Cai Bingyao can rely on is his family.
At present, these investors will indeed give him face, but if the financing continues, as the market expands, how much influence will their family have?
Will Grab be owned by Cai Bingyao?
Do other small shareholders still have a say?
Back at the hotel, Song Meng found that Chen Dongcheng's face was not very good: "What's wrong?"
"If you encounter something troublesome, why don't you go to the Twin Towers now?"
Chen Dongcheng didn't tell Song Meng this. He was more indifferent to Grab than to Didi.
Treat it completely as a money-making tool.
What Chen Dongcheng can do is to gain more shares within his own capabilities.
To prevent subsequent rounds of financing from being diluted too badly.
If Chen Dongcheng's estimate is correct, Cai Bingyao will conduct another financing in more than three months.
The cost of financing is so high that many venture capital institutions can’t help but curse.
It's shameless to ask for money.
Survival has become what Cai Bingyao cares about most.
Defeating Uber will not only severely damage Didi’s vitality.
Grab was even worse. I almost lost my underwear.
After the last round of financing, Cai Bingyao, as the founder, only has 3% of his shares, like Didi's Cheng Wei, which has to be said to be an irony.
Chen Dongcheng suddenly thought: If the money is left in the bank, he can only earn interest.
Investing in Grab will at least make him a fortune.
It doesn’t matter how dishonest Cai Bingyao does things, it’s enough that he can make money.
Chen Dongcheng, who was thinking about it, regained his good mood.
Take Song Meng and wander around the streets of Kuala Lumpur.
After going to the Twin Towers, Song Meng was quite happy and took a lot of photos on the overpass.
The Sunshine Plaza downstairs is Song Meng’s favorite.
In order to increase his step count, Chen Dongcheng followed without complaint.
As long as the number of steps in the game is increasing, money will continue to come in.
After walking for more than 5,000 steps, Chen Dongcheng found a place and took Song Meng to drink coffee and rest.
Song Meng looked at the tourists outside the window and complained: "There are so many Chinese in Kuala Lumpur."
"Then you have never been to Thailand. When you take a bus, you may feel that it is no different than in China. The bus is full of uncles and aunties from China."
"Yeah, I have a best friend who went to the Maldives with her boyfriend, and found that the ferry boat was full of Chinese people. Grandpa and aunt were really too busy."
Chen Dongcheng went to college in Pengcheng and heard too many stories about wealthy people in Guangdong.
In the past, I could only envy and complain.
When he became like them, Chen Dongcheng finally understood why the life of rich people was so boring.
There's plenty of money to spend, and if you don't find something to do for yourself, you'll probably be bored to death.
Chen Dongcheng looked at the shopping bags in Xie Jingyu and Pang Zhengyang's hands.
Take any one of them and it can equal two or three months’ salary of an ordinary office worker.
If you don't have money, you can't wait to break it in half and spend it. If you have money, you can't spend it all.
"Have you rested yet?"
"You have already rested, shall we continue?"
After another stroll, Pang Zhengyang and Xie Jingyu both felt their legs were weak, and Song Meng finally walked out of the square with satisfaction.
“I really want to do it again!”
Song Meng looked at Sunshine Plaza reluctantly, turning back three times every step of the way.
Xie Jingyu couldn't help but twitch the corner of his mouth. The physical strength of these boss ladies was really terrifying.
Stayed one more night in the hotel and flew back to Pengcheng directly the next day.
Song Meng began to resume her normal life, going to work during the day and taking extra classes at night.
To Chen Dongcheng, the tuition fee is definitely nothing.
Directly arrange for teachers with the best reputation to give Song Meng one-on-one tutoring.
If he fails to pass the exam again, Chen Dongcheng will really have nothing to say.
…
Science Park.
Chen Dongcheng came to the Science Park this time not to see Sundong Technology.
Building D, 15th floor.
Chen Dongcheng sublet the office building he bought previously to Super Orangutan at a very favorable price.
The area of 3,300 square meters is a huge surprise for Super Orangutan.
Tiaotiao and the others originally planned to rent Shum Yip Shangcheng, but now they have a better choice.
According to Tiaotiao's idea, this office building will be divided into two parts.
2,300 square meters will be used as the future office space of Super Orangutan, including the training base for coaches.
Tiaotiao asked Mochuan Decoration to carefully decorate the remaining 1,000 square meters according to their ideas, making it Super Orangutan's first all-in-one store in Pengcheng.
Opening a gym in the Science Park is a great idea.
Who doesn’t know that this is the area with the worst overtime problems in the country?
Tiao Tiao opened a gym here. This idea really shocked Chen Dongcheng.
The gym has been open for a while, and Chen Dongcheng asked Zhuang Manting to send several flower baskets when it opened.
The elevator arrived at the 15th floor, and several young men in their early thirties walked out of the elevator with Chen Dongcheng.
Just by looking at his hairline, he knew he was a programmer working nearby.
"Is this a reliable gym? It's the first time I've heard of a gym that doesn't require an annual membership."
"Don't worry, I've been there several times. This gym is quite interesting. You'll know it when you get in."
"No matter how they deceive me, I won't get a fitness card."
Several programmers murmured, and Chen Dongcheng, who was following behind, heard them all.
When I walked to the door, there was a lead programmer who entered the password at the access control.
Several other programmers also have similar operations.
Tiaotiao and their stores are equipped with password doors.
Users who purchase courses will receive the access code half an hour before class.
This is because Chen Dongcheng gave a discount, so Tiaotiao was willing to open the first all-in-one store with an area of 1,000 square meters.
At first, they planned that 300 square meters would be enough, and they would wait and see the market feedback first.
There were no staff members throughout the process, and several programmers who came here for the first time were a little surprised.
Shouldn't there usually be a front desk at the door?
This super gorilla is really special.
There was a vending machine at the door, and Chen Dongcheng scanned the code and bought a bottle of mineral water.
Although there was no staff, it was easy to find the changing room by looking at the instructions posted on the wall.
Xue Ningzhi was solely responsible for the design of Super Orangutan.
According to Tiaodiao’s philosophy, Super Orangutan focuses on youth and sports.
Therefore, the main color of Super Orangutan’s store is orange.
The spacious and bright classroom makes people feel full of energy as soon as they enter the door.
The decoration style is also very personal and cool.
This can be seen from many men and women taking selfies.
Unlike other small stores in the future, this all-purpose store is the largest in area and is also equipped with bathrooms.
According to Tiaotiao's original plan, the bathroom was not included in it.
The maintenance cost is high and does not conform to Super Orangutan's philosophy of pursuing profits.
Who allowed Chen Dongcheng, a big boss, to be so capricious that he immediately approved a floor of office buildings? This store was simply added to it.
The gym is on the same floor as the company. This is the first all-purpose store to be officially opened after Super Orangutan adjusted its thinking.
Tiaotiao and the others would often come over for a visit and receive feedback from customers immediately.
"Hey, Director Chen?"
Keqi was wearing a vest and his muscles were bulging. He was somewhat surprised to find Chen Dongcheng who was visiting the classroom.
Chen Dongcheng smiled at Keqi and waved.
Kitchi trotted over with a respectful look on his face: "I'll call Tiao Tiao and the others right now."
"No, please show me around first."
Keqi nodded quickly: "Okay, come with me."
Due to the large area of this store, three classes can be held at the same time.
The number of people in each class is about twenty, not too many.
Keqi explained: “We focus on group exercise classes and keep the proportion of private lessons down.
The pay-per-view model has received praise from many users..."
According to Kitsch, Super Orangutan does not have monthly or annual passes.
A single group class starts at 69 yuan, and there are mainly 89 yuan, 129 yuan, and 159 yuan classes.
Don't think that the income of white-collar workers will be high. They have a glamorous appearance. Only they know how high the cost of living in big cities is.
Even if you want to go to the gym to exercise, stay healthy.
The high annual fees and annoying sales pitches alone can disincentivize them.
Kitsch said Super Orangutan coaches will not work part-time in sales.
This makes Chen Dongcheng very satisfied. Even Zhuang Manting had to worry about selling classes at Youlaihui before.
You can imagine how common it is in traditional gyms for coaches to sell courses part-time.
After all, coaches can get a share of the sales of personal training classes, and this mechanism also encourages many coaches to take the initiative to develop students.
The more you sell, the more you earn.
Traditional gyms rely on selling annual passes to cover costs and rely on coaches selling classes to make profits.
Keqi didn't dare to be presumptuous when facing Chen Dongcheng, but he was inevitably a little proud.
"Director Chen, several of us believe that coaches should only focus on teaching, so we have no sales positions internally.
A coach’s salary is mainly composed of a base salary and class fees.
On the one hand, the class fee is linked to the instructor’s star rating, and on the other hand, it is related to the occupancy rate and repurchase rate of the course.”
The basic salary is only two to three thousand, and the commission on class fees is the bulk.
According to Kitsch's description, the monthly income of Super Orangutan's coach will not be less than 15,000.
Don't look at the annual salary of hundreds of thousands online. In fact, this income is not low for big cities.
Not long after, Tiao Tiao rushed over.
To Chen Dongcheng's surprise, Tiao Tiao was already pregnant.
The last time we met, it wasn't so obvious.
Tiaotiao took Chen Dongcheng to the rest area and began to report in detail the situation of the store.
Due to its large area and location in the Science Park, a park with huge traffic, this store has always had a high occupancy rate.
According to Tiaotiao, each class is almost guaranteed to have 20 students, and at least 36 classes can be scheduled a day.
The income from a monthly group exercise class is 1.5 million, which is guaranteed to be profitable.
Tiaotiao smiled and said: "Customers now know about us through word of mouth."
"What are you going to do next?"
"I plan to establish an independent subsidiary, Super Ape Academy.
Mainly responsible for training coaches and developing courses, we cannot just rely on poaching people from outside.
Coaches you train yourself will be more loyal to the company."
Tiaotiao mentioned Super Ape Academy and talked endlessly about various plans.
Including independently developed courses, we strive to further increase the proportion of full-time coaches.
The copyright to introduce a set of Les Mills courses is expensive, costing hundreds of thousands.
90% of domestic gyms, especially small gyms, do not purchase copyrights.
Just invite Les Mills-certified coaches to the gym to give classes, or train coaches in your own stores.
Chen Dongcheng is quite satisfied that Tiaotiao has the awareness to independently develop courses.
It's not pleasant to be controlled by others, and it's a waste of money.
Chen Dongcheng suddenly figured out what Tiao Tiao meant. He looked at Tiao Tiao looking at him eagerly and laughed dumbly: "Are you short of money?"
"I can't hide it from you. In addition to the decoration of this store and the recruitment of coaches, there are also various benefits for coaches.
The company will definitely be short of money in the next few months."
Only now did Tiao Tiao realize how reckless he was when he started his own business in a hurry.
Without Chen Dongcheng's support, their little savings would not be able to be used at all.
If they want to implement all of their ideas, they will definitely not be able to do it with less than a few hundred million.
Besides, as Super Orangutan becomes popular, other visionary entrepreneurs will not be able to smell the smell of meat?
The only thing Tiaotiao can do is to persuade Chen Dongcheng to pay them more money.
Let’s start staking out the territory as soon as possible and build a scale.