“Penguin invested US$2 billion in Ruixiang, accounting for 20% of the shares, and Ruixiang’s valuation reached US$10 billion!”
Pang Lei walked into the elegant room where Jack Ma practiced martial arts to report.
Jack Ma was wearing a white training uniform and was doing Tai Chi slowly. There was an incense burner next to him and he lit a piece of calming sandalwood.
As if Jack Ma didn't hear anything, he finished the punch slowly, took the towel handed over by Pang Lei, wiped the sweat on his forehead first, and then said:
"Since you have rejected us, there is nothing more to say. Let's put our horses and horses on the table and let's compete!"
Then he sighed and said with emotion:
"If you're not careful, the baby elephant will grow into an elephant!"
"Haha, what's wrong with the elephant? The ants will trample the elephant to death sooner or later and break off his ivory!"
Pang Lei's metaphor is very vivid. The logo of their Leech Golden Clothes is a cartoon ant, and the logo of Ruixiang is a cartoon elephant.
"You! Don't underestimate your enemy. I'm quite interested in that boy Zhang Yida. He's a talent! It's a pity that he can't be used by me."
Jack Ma sighed and said that he was the one who ordered Pang Lei to acquire Ruixiang, but it was a pity that he failed.
"Ruixiang still has many shortcomings. They have four major licenses: banking, securities, insurance, and funds. They only have one fund license and are only two shareholders. Our online merchant bank will be approved soon. The gap will only get wider and wider.
.”
Pang Lei is still very confident. If there are too many ants, they can kill an elephant, and if there are too many license plates, they can kill Ruixiang.
"A private bank does not have as many advantages as you might imagine. Our focus is still on mobile payments.
Paybay is our fundamentals and we cannot lose our market share.”
Jack Ma is still very rational and analyzes problems very objectively.
Pang Lei nodded and said:
"Mr. Ma, don't worry, mobile payment is our top priority, and I will not take it lightly."
"Are the capital reserves still sufficient? We must start financing next year." Jackma added.
"There are still more than 6 billion in working capital, do we need to start financing?" Pang Lei thinks that the funds are still abundant, and financing is not necessary for the time being!
Jack Ma waved his hand and said: "Ruixiang raised 2 billion US dollars and more than 12 billion yuan from Penguin, and it is clear that it is going to fight us for mobile payment subsidies.
The more than 6 billion yuan will not be used until the middle of the year at most, and we must start Series A financing in the middle of next year.
The Social Security Fund and the China Development Bank are about to start contacting each other to get them on board in the first round.”
Pang Lei said: "Do I have to find state-owned enterprises to invest?"
"Hey, you think too simplistically. We encountered so much pressure when we were working in Alipay.
There is also Yu’e Bao, and all the banks and funds are eager to chop me down.
It’s impossible not to play with them! This is the national condition.
We must form a community of interests, and I plan to accept investments from some national sovereign funds and pension funds in the future...
The more countries that join, the better!
Of course, domestic ones should be allowed to come in in the first round! The more money they make, the easier it will be for the leaders to explain.
Foreign funds should be placed in the second and third rounds! Especially since we have to enter Southeast Asia and other regions around the world, we must have a good relationship with the local governments..."
Jack Ma talked nonchalantly about the development strategy to Pang Lei.
…
Diaoyutai State Guesthouse.
Ruixiang’s Series C financing conference was held here.
In addition to inviting many media, Zhang Yida also invited executives from other industries under his banner, including Ding Siyao and Fan Hongyang of Yimin Financial Services, Lu Fenghai of Pate.com, Dogfud Kubin, Huimin Bicycle Huang Xiaofeng, Huayi Capital Lei
Dongming et al.
In addition, partners Wang Xiaojie of Hantai Group, Hu Gang, the three TMD giants, and other small and medium-sized partner companies from Ruixiang have also been invited.
Many members of the Peking University Young Entrepreneurs Association also came to support them, including Yiyindai Tang Lin, Renrenyouxin Yang Yihu, Dagou.com Xu Dan, Sugar Baby Liu Lan...
Even Zhang Yida didn't expect that so many people would come this time.
He guessed that Ruixiang's huge financing was probably too shocking. There are currently no more than 10 Internet/technology companies in China with a valuation/market value of tens of billions of dollars, and Ruixiang has already entered the first echelon.
The meeting process was relatively simple. First, Zhang Yida took the stage to deliver a keynote speech, announcing some of Ruixiang's next strategies.
Then Liu Zhiping gave a speech, explaining how Penguin thought highly of Ruixiang and praised Ruixiang.
Then there is the Q&A session with reporters.
36Kr reporter asked:
"I would like to ask Mr. Zhang, Ruixiang has received US$2 billion in Series C financing from Penguin this time. Does the post-money valuation reach US$10 billion?"
Zhang Yida replied: "Yes, it has reached 10 billion US dollars."
Huxiu.com reporter asked:
"I would like to ask Mr. Zhang, where will the huge amount of financing Ruixiang obtains be used for?"
Zhang Yida replied:
"It is mainly used in three parts. The first part is to continue to increase the research and development and exploration of cutting-edge technology; the second part is used for capital increase of subsidiaries and external mergers and acquisitions, investment; and the third part is to develop the user mobile payment market."
A reporter from Entrepreneurship State asked:
"In just over a year, Ruixiang has achieved a breakthrough from a start-up to a valuation of tens of billions of dollars. Does Mr. Zhang have any secrets to teach to young people starting their own businesses today?"
Zhang Yida replied:
"There is only one secret, perseverance! Ruixiang's development process has not been smooth sailing. We have overcome many difficulties to get to where we are today. In the future, there will be more levels that will test Ruixiang!"
Zhongguancun Online reporter asked:
"In terms of valuation, Ruixiang has become one of the top 10 Internet companies in China. Is there any plan to go public?"
Zhang Yida replied:
"Ruixiang is still in the growth stage and is far from successful. There is no rush to go public. More layout needs to be improved."
IT House reporter asked:
"Ruixiang competes with Leech Financial in many fields. What does Mr. Zhang think of Leech Financial and the competition between you?"
Zhang Yida replied:
"Leechie Financial Services is an excellent financial technology company, and the competitive relationship between Ruixiang and them is benign. They encourage each other and make progress. Competition helps promote the progress of the industry."
Looking at Zhang Yida talking eloquently on the stage, Hu Gang approached Wang Xiaojie and said quietly:
"Ruixiang's strength has improved so fast, Hantai Group can't keep up!"
Wang Xiaojie's eyes flashed, and he lowered his voice and said:
"Lao Hu...what do you mean?"
"Ruixiang has such a deep layout, ask them if they are interested in Hanzhou Securities?" Hu Gang glanced at Zhang Yida on the stage, and then said to his partners.
Wang Xiaojie thought for a moment and said with a smile:
“It would be best to ride on their coattails and increase the scale of assets under management.
Handing now urgently needs a wave of good news to boost its stock price!"
Hu Gang looked at Wang Xiaojie with a half-smile, and nodded slightly.
Ding Siyao stared at Zhang Yida on the stage, with his heroic appearance, and couldn't help but be fascinated for a moment. Fan Hongyang, who was sitting next to her, said to her:
Ruixiang’s Series C financing conference concluded successfully!
Taking this opportunity, Zhang Yida also gained a lot of limelight, gained a wave of popularity, and brought Ruixiang's brand to a higher level.
At the same time, it also boosted the morale of subordinates, boosted the confidence of partners, and won the appreciation of many friends and investors.