Baimo quickly reached a Series A financing agreement with Happy Capital. Based on a post-investment valuation of US$100 million, Happy Capital invested US$30 million in Baimo, accounting for 30% of the shares.
At the same time, a harsh gambling agreement must be signed to ensure the interests of Happy Capital.
"Bike Mobike will ensure that there are no less than 2 million registered users within the next year, or it will enter the next round of financing within one year, and its valuation will be no less than US$300 million..."
Fu Weiwei frowned when she saw the gambling agreement column. Registered user data increased 20 times, and the valuation increased three times within a year.
Too harsh!
But Fu Weiwei thought, after successfully raising US$30 million, is she still worried about not being able to achieve this performance?
Huimin Bicycle raised US$50 million to build 100,000 bicycles. Based on this ratio, Baimo can build 60,000 bicycles.
Including the 10,000 bicycles we already own, there are a total of 70,000 bicycles. In one year, we will have 2 million registered users and a valuation of US$300 million. It should not be a big problem.
She then looked down:
“If the gambling target is not achieved, the management will transfer 30% of the shares to investors for free as compensation;
To achieve the gambling goal, the investor will transfer 10% of the shares to the management for free as an incentive..."
"Mr. Liu, this bet is a bit unfair! If you lose, I will give you 30% of the shares, and if you win, you will get 10% of the shares."
Fu Weiwei raised her head, looked at Liu Dahai with some fun, and said.
"Haha! It's not fair! If the goal is not achieved and you lose the bet, I will hold the 30% shares you transferred, which will be worthless at all.
If it really gets to that point, Baimo is basically useless. Maybe you can recover some losses by selling some scrap bicycles. But what's the use? There is no doubt that the blood will be lost.
If you achieve your goal, transferring 10% of the shares to you will be the limit. You can't let the employer work in vain, right?"
Liu Dahai spread his hands and said that he was completely following the rules. Now that he is investing such a large amount of money in Baimo, he is taking a huge risk.
Fu Weiwei was a little helpless. It was a buyer's market now, and the seller, Baimo, was completely passive.
However, thinking that she could get 30 million US dollars immediately, and that the development of Baimo would be able to rise to a big level, Fu Weiwei was very excited. After discussing with Li Bing, she still agreed to the gambling conditions proposed by Liu Dahai.
In this way, after initialing the contract, conducting due diligence, and making payment, it took only one week for Baimo Bicycle to quickly complete the $30 million Series A financing.
…
"Baimo completed US$30 million in Series A financing, with a valuation of over 100 million, becoming the second company in the bike-sharing industry to complete independent financing."
Zhang Yida frowned when he saw the news. As expected, Baimo became a major rival of Huimin Bicycle.
"Mr. Hou, do you have any detailed information on the massage trend?" Zhang Yida asked with a smile on his face as he looked at Hou Jiaji, Director of Business Intelligence, who was standing in front of him.
"Didn't Baimo just complete a $30 million Series A financing? Our department has investigated and the data is true, but it is said that there is a gambling agreement.
The specific content of the agreement is unclear.
In addition, after completing financing, Baimo spent 60 million on the foundry to produce 60,000 bicycles.
Of these 60,000 bicycles, 30,000 will flow into the Magic City, and the other 30,000 will be sent to Beijing, Pengcheng, and Yangcheng."
This is going to be a big deal for Huimin Bicycle! Huimin Bicycle operates four first-tier cities, and Baimo is also following suit. Zhang Yida thought.
"Thank you for your hard work. This information is very useful. Continue to keep an eye on the competing products and report any major trends to me in a timely manner. The information from Baimo is listed as the highest priority, and other competing products can be ranked lower."
Zhang Yida began to give orders to Hou Jiaji. When Hou Jiaji was hired to join the company, he wanted to keep an eye on the financing situation of competing products, car building plans, and launch target areas...
Know yourself and the enemy, and you can fight a hundred battles without danger.
In the shared bicycle industry, Huimin has a clear lead, but Zhang Yida still dare not take it lightly.
…
"Teacher Shen, how is Huimin's A+ round of financing going?" Zhang Yida called Shen Beipeng and asked.
"It's settled. We'll call them to your company later and get ready," Shen Beipeng said.
"So efficient! OK, I'll wait for you at Huimin Bicycle Company."
Zhang Yida was very happy. A few days ago, he asked Shen Beipeng to help Huimin Bicycle find the next round of investors, and the news came so soon.
In the Huimin Bicycle Conference Room, Zhang Yida received several investors brought by Shen Beipeng.
"This is Zhu Xiaohu from Jinshahe Venture Capital, Mr. Zhu." Shen Beipeng introduced Zhang Yida.
Zhang Yida followed his gesture and looked over. A middle-aged man in formal attire with a shaved head smiled at Zhang Yida and nodded as a greeting.
"This is Mr. Zhang Ying from Jingwei Global."
Shen Beipeng continued to introduce, and Zhang Yida followed his gaze and saw that he was also a middle-aged male investor in formal clothes and a successful person. He was nodding and saying hello to him with a smile on his face.
Zhang Yida also nodded towards him as a response.
These two investors are also well-known investors in the industry. Zhang Yida has heard their names in his previous life and has some impressions of them.
As expected, Shen Beipeng was so proud that he invited both of them here. Zhang Yida thought to himself.
"Yida, tell me about Huimin Bicycle's current operating data!" Shen Beipeng said first.
"Okay, let me give you a basic introduction first. Huimin Bicycle was officially launched in late September and has been in operation for more than three months.
Currently, it has a total of 120,000 shared bicycles distributed in the four first-tier cities of Beijing, Shanghai and Pengyang, with 3.32 million registered users and 1.08 million daily active users.
There were 2.6 million users who paid deposits, and deposits collected were 777.4 million yuan..."
After Zhang Yida’s introduction, everyone had an intuitive understanding of Huimin Bicycle’s operating data.
"Mr. Zhang, Huimin Bicycle's operating data has improved very quickly! I have seen Huimin Bicycle's A round of financing BP. Three months ago, there were only 200,000 registered users, right?"
Zhu Xiaohu from Jinshahe Venture Capital said with a smile.
“Yes, it had only been in operation for a few days when the Series A financing was raised, and the number of bicycles was only 20,000, all of which were placed in the capital.
After raising US$50 million in Series A financing, we added 100,000 bicycles, expanded our operations many times, and extended our reach to three other first-tier cities.
The current achievements are due not only to the concerted efforts of the team, but also to the support of capital."
Zhang Yida thought that Zhu Xiaohu didn't believe this operating data, so he explained.
As a result, Zhu Xiaohu said: "The current results of Huimin Bicycle are reasonable. Mr. Zhang, you are a master of operations. Ruixiang's success is the best proof."
"Can you talk about Huimin Bicycle's future development vision and commercial realization?" Zhang Ying from Matrix Partners Global interjected.
"The development vision is definitely to expand the business territory across the country and let small green cars spread all over the country's streets. If there is an opportunity, the international market will also be expanded.
In order to achieve this goal, we have formulated a three-step strategy of first, middle and last steps.
The early strategy is to use a three-month round of financing to promote Huimin Bicycle through the power of capital and occupy the national market with the fastest speed and the most ferocious attitude...
The medium-term strategy is to defeat all competitors, occupy the national market, and become the industry leader before fully launching commercial monetization...
The later strategy is to consolidate and digest the domestic market before entering the international market...
Commercial monetization will start next month, and we will launch a deposit financial product...
In addition to monetizing online financial traffic and offline body advertising, this is what I plan to do..."
Zhang Yida talked eloquently, telling the whole story about Huimin Bicycle's strategic planning and business realization plan. There is no confidentiality issue in this. The best way is to settle the investors first.
After Huimin Bicycle starts commercial monetization, all its methods will be exposed. Competitive products that want to copy will naturally follow suit.
In addition, Huimin Bicycle wants to defeat them by relying on the pace of financing, and there are already signs of this. Fu Weiwei, for example, saw it, so he spared no effort to raise funds and give it a try.
When Huimin raises another round or two of capital, everyone in the industry will be able to see this conspiracy.
After seeing it, there was nothing we could do. We raised a round of financing in three months, and the valuation doubled or tripled. This is a treatment that only the leaders in the entire field can have.
Other companies have no way to raise funds like this. Once Huimin Bicycle's crushing trend is established, the end of other competing products will come.
Zhu Xiaohu and Zhang Ying listened with great interest and nodded in agreement.
Zhang Yida is indeed an entrepreneur who has founded a company with a valuation of tens of billions of dollars. He has outstanding business capabilities and many far-reaching considerations.
In the future, as long as Huimin Bicycle does not seek death and continues to maintain this status, it will definitely have no problem occupying the leading position in the market, not to mention monopolizing the industry.
The two investors thought secretly in their hearts.
"Valuation?"
Zhu Xiaohu asked. He had basically determined his investment intention. Of course, there was a prerequisite, as long as the valuation was not too outrageous.
"Valuation of US$500 million, financing of US$50 million."
After Zhang Yida set his price, he drank tea calmly and secretly observed the reactions of the two investors.
"Beipeng, the post-investment valuation of Huimin Bicycle's Series A financing three months ago was US$250 million, right?"
Zhang Ying turned his gaze to Shen Beipeng and asked.
"Yes, that's right. Huimin is worth the price."
Shen Beipeng is also an old fox. When it comes to Huimin's valuation, he must be on Zhang Yida's side! So he spared no effort to praise Huimin.
"In three months, the valuation doubled."
Zhu Xiaohu murmured to himself, not knowing whether he was too fast or too slow.
"Is this US$500 million a pre-money valuation or a post-money valuation?" Zhang Ying asked Zhang Yida.
"Before surrendering." Zhang Yida looked at Zhang Ying and smiled slightly.
"To be honest, it's a bit high. For a company that has only been established for three months, it is valued at US$500 million."
Zhu Xiaohu started to find fault, saying that Huimin Bicycle was founded too late and its foundation was unstable.
Zhang Ying couldn't help nodding in support of Zhu Xiaohu and said:
“We can give Huimin Bicycle a pre-money valuation of US$350 million, invest US$50 million, and the post-money valuation will reach US$400 million.
US$400 million is not low, and many mature listed companies do not have this market value."
Anyway, there is only one meaning in the words, tell Zhang Yida, little brother, you are satisfied! Less than half a year after its establishment, the company has been valued at US$400 million. You can't go too far in your life.