"What you said makes sense, and I'm a little tempted. Call Fu Weiwei later, and I'll have a chat with her."
Liu Dahai thought carefully about what Li Bing said and found that it made some sense.
But what mainly moved him was not these words, but the wealth opportunities brewing on the bike-sharing track.
No matter how good Huimin Bicycle is, he can't invest in it, and its valuation is already very high.
Entering at this stage, the investment funds are expensive, and the returns may not be huge yet.
When doing venture capital, you must consider maximizing profits. Compared with Huimin Bicycle, Baimo Bicycle has not yet started formal financing, and its valuation will not be too high, maybe less than 1/10 of Huimin Bicycle.
If the investment is successful, the return will be very high. Of course, the investment risk is not small. But with this small amount of money, a star fund can still afford to lose money.
"Okay! Let's have dinner together later and I'll introduce you to each other."
Li Bing was very happy. With Liu Dahai's attitude, the matter was basically half successful, and the other half depended on Fu Weiwei's performance.
Fu Weiwei has finished her speech at this time and is taking questions from reporters.
A female reporter asked: "Mr. Fu, it is difficult for women to become CEOs in the workplace. As a female CEO, do you have any secrets to impart to women in the workplace?"
Fu Weiwei, a typical Jiangnan girl, smiled gently and replied:
"There is no secret. But I want to tell the sisters that if men can do it, we women can do it too! If women want to become executives and CEOs, they must first have the courage to try and fight!"
The reporter smiled and said: "A very wonderful answer! Thank you Mr. Fu, and I also wish Mr. Fu and Bai Mo Bicycle better and better, and their careers will prosper."
A male reporter asked:
"As a beautiful CEO with both beauty and intelligence, Mr. Fu, do you think good looks will have a positive effect on our job promotions in the workplace?"
Fu Weiwei thought for a moment and smiled:
"What do you want me to say? Frankly speaking, good looks definitely have a bonus effect. After all, when faced with beautiful things, everyone will unconsciously like them more.
With good looks, you will definitely get more opportunities than others!
But having said that, having more opportunities than others does not necessarily mean you will be more successful than others.
In the final analysis, promotion must still be determined by true talent and hard work. Without ability, no matter how good-looking you are, you can only be a flower vase.
Enterprises are not charitable organizations, they all measure a person's ability by the value and benefits created by the enterprise."
Another reporter asked a more pointed question, saying:
"Mr. Fu, Baimo Bicycle currently only has 10,000 bicycles, which are only put in the Magic City; Huimin has 120,000 bicycles, which are put in four cities including Beijing, Shanghai and Pengyang.
Please tell me, does Baimo Bicycle have any plans to expand its operation scale? In addition, what do you think of Huimin Bicycle and other competing products? Do you think there is still a chance to surpass Huimin Bicycle?"
Fu Weiwei didn't look good. Huimin Bicycle was about to become a worry for her. This reporter wanted to mention Huimin Bicycle and asked her what she thought.
Although she felt strongly unhappy inside, she still controlled her emotions and said calmly:
“The first question is, we must continue to expand the scale of operations.
At present, Magic City is just the first stop. After we take root and expand and improve the Magic City market, we will consider entering other cities and put more bicycles into the market.
To bite off more than we can chew, we plan to work intensively one city at a time to give users the best and most complete experience.
Rushing into too many cities and lacking operational management is not only an inefficient behavior that wastes resources, but also irresponsible to users.
The second question is, I am very open-minded towards Huimin Bicycle and other colleagues.
Bike sharing is a huge market, and no one company can occupy it alone.
We all serve the last mile of travel for users, reduce carbon emissions, and protect the environment. I believe that if we work together, we can eliminate pollution.
The third question, surpassing Huimin Bicycle? I think this is not up to us to decide.
It is determined by the market and users. Huimin Bicycle is an excellent company, and we at Baimo Bicycle are also a company focused on improving user experience.
In the future, I firmly believe that users will choose whoever wins the goodwill of users and whose bikes are the best to ride."
The questions ended here. Fu Weiwei's outstanding eloquence and excellent speech skills won the praise of many guests in the audience and earned her popularity and favor.
…
night.
Li Bing, Liu Dahai, and Fu Weiwei came to a high-end restaurant, ordered a table of delicious food, and chatted while eating.
"Weiwei, your eloquence amazes me in the audience! It's really wonderful."
Liu Dahai witnessed Fu Weiwei's performance in the audience and admired it very much. He did not hesitate to praise it at this time.
"Gee, Mr. Liu, you've given me the award. It's such an honor for me to be praised by an investment boss like you!"
Fu Weiwei smiled like a flower. After being introduced by Li Bing, she learned that the Liu Da Liu in front of her was a well-known investor with great energy.
Furthermore, he also intends to invest in Mobike, so he attaches great importance to him and would like to give him compliments from time to time.
After a conversation, Liu Dahai also had a general impression of Fu Weiwei in front of him.
A smart and capable woman with a high IQ and EQ. He would make little jokes from time to time during the meal, and she would be able to deal with them skillfully.
The answers to business questions were also very professional. It was good that they were not just vases. Now he felt much more at ease.
Li Bing doesn't care, whether Mobike can succeed in the future depends on Fu Weiwei. So I have to observe and test the other party more.
He was still very satisfied with the basic situation. As a CEO, Fu Weiwei was above the qualification level. Although she was not particularly outstanding, she still passed the qualification level in his mind.
In addition, entrepreneurs are not so outstanding that no one can find fault with them. They need to give people opportunities to grow.
“Let’s talk about valuation!”
Liu Dahai knew that the battle for shared bicycles would soon enter a heated stage, so he did not delay and said directly.
Li Bing smiled and Fu Weiwei was ecstatic.
"$100 million!"
Li Bing thought for a while and quoted such a price.
"It's high." Liu Dahai spoke concisely and blurted out two words.
"Why is it so high? After Huimin Bicycle launched 20,000 bicycles in Beijing, within a few days it was valued at US$200 million before investment."
Li Bing was quite annoyed and asked.
"They are the leaders and enjoy a premium. You are the chasers. Investing in you is more risky and you do not enjoy the premium."
Liu Dahai is extremely rational. Although he plans to invest in motorcycle riding, it does not mean that he supports it unconditionally.
"Then tell me! How much can you accept?" Li Bing had no choice but to ask Liu Dahai directly.
"After the investment is US$50 million, I will invest US$10 million in you." Liu Dahai smiled faintly and offered his offer without any embarrassment.
"It's too low. You have to know that we invested tens of millions in Baimo Bicycle in the early stage. Now it has been successfully launched on the market, and the results have been good.
Except for Huimin Bikes, other competing products lag far behind ours, and Baimo’s operating data currently ranks second in the shared bicycle market.”
Li Bing was very angry. He could not accept such a low valuation for the product he had worked so hard to create.
"You all know that you are in second place. This is the treatment for second place. People will only remember the first place!"
Liu Dahai showed no sign of weakness and continued to stab Li Bing's heart.
"Mr. Liu, let me say a few words." Fu Weiwei saw that the situation was somewhat deadlocked, and there was a hint of gunpowder in her words. She quickly interjected, smiled at Liu Dahai, and continued in a voice like a silver bell:
"Mr. Liu, you also know the current situation. When you invest in Bicycle, you must also want to see Bicycle catch up with or even surpass Huimin Bicycle, right?"
Liu Dahai nodded. He definitely wanted to see Baimo Bicycle become the market leader? Otherwise, why would he invest?
Fu Weiwei continued to guide his thinking and said:
“Huimin Bicycle’s A round of financing is US$50 million, and the second batch of investment is 100,000 bicycles.
If Baimo Bicycle only raises US$10 million, which is only 1/5 of Huimin’s, then just don’t invest!”
Speaking of this, Fu Weiwei raised her tone and said seriously:
"Because if you vote, it will be in vain!"
Fu Weiwei is crazy! What are you talking about! Li Bing was just about to speak out to stop Fu Weiwei, but Liu Dahai stopped him. Liu Daeruo looked at Fu Weiwei with interest and motioned for her to continue talking.
Fu Weiwei said again:
"Because such an investment is just a fueling tactic. Huimin Bicycle has raised US$50 million in Series A financing and can manufacture 100,000 bicycles at one time.
We raised US$10 million in Series A and manufactured 20,000 bicycles for distribution.
Huimin Bicycle’s Series B financing is US$500 million, and our Series B financing is US$100 million...
They build 1 million bicycles, we build 200,000 bicycles...
Then the gap widened and Huimin Bicycle developed faster and faster, but we were unable to catch up.
A year or two later, Huimin will occupy 70-80% of the national market, and we may only have a few or a dozen points of market share.
All resources are pouring into Huimin Bicycle, and there is no more capital to throw money at us.
In the end, the winner takes all! gome over!”
Liu Dahai burst out laughing. It took him a long time to recover and joked:
"You said that, aren't you afraid that I won't invest? You are so optimistic about Huimin Bicycle, so I might as well invest in them."
"You won't do that!" Fu Weiwei shook her head and continued:
"When you chose to have this meal with us today, you basically made up your mind to invest in us. There are just differences on the price."
"So confident? Tell me your plan!" Liu Dahai looked at Fu Weiwei, spread his palms, and motioned for her to continue.
"My plan is to raise US$30 million, or even more! If we don't catch up with Huimin now, the gap will only get bigger as the number of financing rounds increases until we can no longer catch up."
Fu Weiwei looked at Liu Dahai and offered a financing amount that shocked even Li Bing sitting next to him.
"I understand what you mean! You can invest 30 million U.S. dollars, but the share ratio must be increased to 30% before signing a gambling agreement. I will make this big gamble with you."
Liu Dahai looked at Fu Weiwei as if he had discovered an incredible treasure. He was surprised, shocked, and more appreciative.
As a professional investor, after many years of working in the industry, I have met countless entrepreneurs. 90% of entrepreneurs lack the heroic spirit of Fu Weiwei.
Liu Dahai looked at Li Bing and smiled:
"You have found a good partner!"
After saying that, he looked at Fu Weiwei again and said:
"I underestimated your courage before, but now your probability of entrepreneurial success in my mind has increased by 50%.
The original success rate was less than 30%, but now it is more than 40%. When you firmly occupy the second position and bite the tail of Huimin Bicycle, the success rate will be over 50%!
I smell a hint of success in you!"
Seeing Fu Weiwei blushing, Liu Dahai quickly added:
"Don't get me wrong! What I mean is that your decisiveness in killing and risking one's life moved me very much. It made me even more confident in investing in Baimo!"