Chen Sheng suddenly remembered something again and said to Zhang Yida:
"The penguins seem to have noticed us!"
"Oh, what do you say?"
Zhang Yida was a little curious about the penguin's reaction.
"Someone from them is contacting us and asking if we need financing..."
Chen Sheng did not dare to hide anything and told everything about Penguin's contact with him.
"You said their condition is to split off Diandianchi and operate independently?"
Zhang Yida's face remained as usual, showing no joy, and he kept looking at Chen Sheng.
Chen Sheng's face remained normal, not pretending, and he said calmly:
"What they mean is that Diandiancai will operate independently and be independently financed and listed in the future. Ruixiang Group and Penguin Group, as shareholders, have the right to nominate directors..."
Zhang Yida's eyes were gloomy, but the giant still took action against him, and Diandianchi was probably just the beginning.
Because Diandianchi relies heavily on Penguin’s traffic, if it is killed by WeChat, it will basically be useless.
Although Mobao Pay and WeChat Pay have not yet come into contact with each other, they have already smelled a hint of war.
Whether it's war or peace, it all depends on Zhang Yida's thoughts.
When a company reaches the level of several billion dollars, it is basically necessary to consider taking sides.
Currently, the one standing on the magnesium group is Ahri, and the one standing on Didi is Penguin.
"You asked Penguin people to come and talk to me. I would like to see what kind of medicine they sell in their gourds?"
Zhang Yida decided to contact Penguin first and listen to the conditions.
For the big guys, right and wrong, grudges and grudges are meaningless, only interests are eternal.
If it was Ah Li, Zhang Yida refused directly and would not consider meeting at all.
Compared with Penguin, Ahri's investment style is more inclined to mergers and acquisitions. Buy a few shares and then eat away at them step by step. You will become an Ahri person in a daze.
In addition, Leech Financial Services Group was officially established last month and was previously called Xiaowei Financial Services Group.
The entire group, with Alipay as its core, also has sub-business segments such as Yu'e Bao, Zhaocai Bao, Leech Jubao, Online Banking, Leech Huabei, and Sesame Credit.
Alipay corresponds to Mobao payment, Yu'ebao corresponds to Change Bao, Zhaocaibao corresponds to P2P business, Leech Jubao corresponds to fund supermarket, Huabei and Jiebei correspond to Toulonghui wallet, IOU, and Sesame Credit corresponds to Mung Bean Credit.
Apart from being an Internet bank, Ruixiang can be said to compete with Leech Financial Services in all aspects.
In the future, each other's insurance sectors will still compete with each other.
After the establishment of Leech Financial Services, it will immediately start rounds of huge financing, and then it will run blindly, and there is no one in the world who can do it.
Of course, that was the situation in the previous life.
In this life, there is an additional Ruixiang Jinke Group. Although they are still a bit different in size, they are not unable to compete with Leech Financial Services.
Zhang Yida believes that in the future, there will be far more conflicts with the Ahri family than with Penguin.
Another point is my personal opinion. Jack Ma’s method of breaking up Leech Financial Services is a bit unethical and goes against business credibility.
In addition, Jack Ma said that "P2P is illegal fund-raising disguised as the Internet." However, his own Wangjin Club and Zhaocaibao are doing the same thing.
Zhaocaibao issued 300 million yuan of Qiaoxing bonds. After the bond defaulted, it and the institutions related to the bond issuance were trying to pass the buck, leaving investors with no way to defend their rights.
Zhaocaibao packages high-risk private placement bonds as "term financial management" products, making investors mistakenly believe that they are financial management products similar to time deposits, inducing everyone to "buy, buy, buy."
When something goes wrong and you blame someone else, it actually hurts the users.
In the words of investors:
"In order to make money, there is no bottom line."
“A company that uses credibility as its selling point has lost its own credibility.”
…
The people from Penguin arrived very quickly, led by Ren Yu, Vice President of Penguin, who also serves as COO of Penguin and General Manager of Penguin Industry Win-win Fund.
Ren Yu was born in 1975. He is the same hometown as Zhang Yida and is also a native of Chengdu. After graduating from the University of Electronic Science and Technology of China in 1998, he moved to Pengcheng in the south. He first worked in Huawei for 2 years and then joined Penguin in 2000 and became an early backbone.
He started to take charge of Penguin Games in 2003, and led Penguin Games to achieve a counterattack from being unknown to the number one in the industry. He is a ruthless person.
Ren Yu politely said to Zhang Yida in Sichuan dialect:
"It's not easy. It's rare to have a young hero like Mr. Zhang in my hometown. The last one was Liu Yonghao, Mr. Liu."
Everyone loves to hear polite words. Zhang Yida laughed and said:
"You can't compare! You can't compare! Mr. Liu is an old-timer. Compared with him, my achievements are like fireflies competing against the bright moon.
Mr. Ren is really amazing. Half of Penguin’s market value is supported by the game team you lead.
I like to play your DNF, CF, and LOL games, they are all good games!"
Ren Yu continued to chat with Zhang Yida for a few words, and then returned to the topic and said:
"Penguin Industry Win-Win Fund attaches great importance to the future development potential of key points and is willing to work with Ruixiang to achieve a win-win situation. I wonder what Mr. Zhang will do?"
"It is possible to spin off Diandianchi and operate it independently, but Ruixiang Group must hold a controlling stake. We will not give in on this point."
Zhang Yida is covetous of Penguin's traffic and is willing to spin off Diandianchi, but he is absolutely unwilling to give up his position as the controlling shareholder.
Ren Yu seemed to have known the result for a long time and did not argue. He looked at Zhang Yida with a smile and said:
"I heard that Ruixiang Group is going to conduct Series C financing, and we at Penguin are also very interested in participating. Mr. Zhang, what do you think?"
"Ruixiang is an AB stock model. If Penguin agrees, I will welcome it with both hands.
In addition, the veto power should be waived!"
Zhang Yida also figured out that he could take anyone's money, as long as he ensured his right to speak.
Ren Yu was not angry either, Gujing Wuha said:
"Penguin is a strategic investment that can provide Ruixiang with huge traffic support. With Penguin's help, Ruixiang will definitely go further and more steadily in the future.
The AB share model can be implemented, but Penguin requires 20% of the shares."
“So what do you think about the competition that Mobao Pay and WeChat Pay may face in the future?
Using your money to beat you is not endorsing the enemy!"
Zhang Yida joked, Penguins are really interesting. Do you plan to bet on both ends?
In the future, Mobao Pay and WeChat Pay will be invincible regardless of victory or defeat.
Ren Yu smiled and said:
"We have always been tolerant of competition. Mobao Pay and WeChat Pay compete with each other and push each other forward.
Even if there are no magic treasures, there are still other treasures.
On this point, we are very generous.”
"I'm afraid I look down on Mobao's payment!" Zhang Yida thought to himself, Mobao's main battlefield is now offline, mainly competing with Ali, and Penguin has not promoted offline payment codes.
As for Mo Bao paying to compete with Ahri for territory, Penguin is happy to see it happen.
Zhang Yida is also thinking in his mind. If Penguin is let in, his equity will be reduced to 42%, and the voting rights will still be about 80%.
Ren Yu didn't say anything and looked at Zhang Yida patiently, waiting for his reply.
"In this case, I would like to ask if any of the old shareholders are willing to sell their shares? Penguin can buy some of the old shares and we will issue some new shares."
Zhang Yida thought of a way to reduce the decline in his shareholding ratio and at the same time achieve Penguin's requirement of 20% of the shares.
"We have no objection, as long as we reach a 20% shareholding ratio."
Ren Yu nodded. The process is not important, as long as the result is achieved.
This is how the first meeting with Penguin Fang ended.
There is no discussion between the two parties in Diandianchi. As long as Ruixiang's investment is completed, it will be a minor problem for Diandianchi.
Zhang Yida invited all investors to the office of Ruixiang Group and informed them one by one about the meeting with Penguin.
“What valuation is Penguin willing to give?”
Black Shirt Capital, the company behind Shen Beipeng, is Ruixiang's largest external investment institution and is very concerned about Ruixiang's valuation.
Zhang Yida shook his head: "It's just our first meeting and we haven't discussed this topic yet.
I’m just asking you now, do you have any thoughts on selling and cashing out some of your shares?”
"If the valuation is reasonable, I can sell part of it." Zhenke Fund, managed by Xu Xiaoming, currently holds 3.33% of the shares. The US$10 million invested in Series A financing is already worth US$100 million based on the post-investment valuation of US$3 billion in Series B. , the paper return reached 10 times.
It was precisely because of the paper returns that there was no safety net, so he wanted to cash out part of the money and get a bottom-line profit first, while keeping the other shares and looking at them later.
"Temasek has no intention of selling our shares and we will hold them for the long term."
Temasek Investment Representative Li Hengbo said lightly.
Everyone is slandering in their hearts. Your family is very wealthy. The entire Lijiapo belongs to your family. Of course, it doesn’t hurt to stand and talk.
"Mr. Zhang, in your mind, what is the current valuation of Ruixiang?" asked Tong Shijie, representative of GGV Capital.
"Yes, Mr. Zhang, let's talk about Ruixiang's current valuation. If the valuation is reasonable, we can also cash out part of it and reduce the pressure on the management team."
Gan Renping from Qiming Venture Partners also said with a smile.
"They are all old foxes! They also talk about reducing the pressure on the management team. If you want to cash out, just say so." Zhang Yida thought to himself, but when the returns are huge, it is normal for people to want to cash out and leave.
Venture capital’s original job is to buy low and sell high!
Zhang Yida asked Song Caiwei to send an operating data report and financial report to each of the investors present.
Zhang Yida sat in the front seat and said:
“So far, the total number of registered users of Toufonghui One Account has exceeded 190 million, and it is expected to exceed the 200 million mark before the end of the year.
As of the Q3 quarter, Ruixiang Group's net profit, after deducting R&D investment and Mobao Pay user subsidies, was 800 million yuan, approximately US$130 million.
This number, including the Q4 quarter, will definitely exceed US$200 million.
The seven major financial supermarkets and Tiance Technology generate the vast majority of net profits, Mung Bean Credit, Hantai Fund, and our consumer finance business (Investment, Finance, IOUs, wallets) are developing.
In the future, these emerging businesses will become our new profit growth engines, even exceeding the net profit of existing businesses.
In terms of cutting-edge technology, our cloud computing and big data businesses have made major breakthroughs, and Ruixiang Financial Cloud is about to be launched on the market.
We have also achieved multiple patent registrations for AI and blockchain technology, and we are not far away from bringing them to the market for commercial use.
The core product Mobao Pay has access to more than 9 million merchants. There are 60 million small and micro merchants across the country, and the coverage rate has reached 15%.
Mobao payment transaction users exceed 50 million, and the number of transactions in a single day exceeds 10 million.
During the same period, there were 190 million active transaction users on Alipay and 200 million users on Penguin Tenpay.
According to iResearch report data, in the third quarter, the mobile payment market structure of the third-party payment market was stable, with Paywallet, Lakala, Tenpay, and Mobao Pay ranking at 74.28%, 7.49%, 7.37%, and 4.98% respectively.
Ranking among the top four in the market.”
Zhang Yida glanced at the crowd and smiled slightly: