Before Zhang Yida left Chengdu, he finally got his parents to agree to accept the 500 million filial piety red envelope he gave.
Yimin Wangjin cashed out more than 900 million in the last round. After removing 500 million, there is still more than 400 million left.
Zhang Yida used the money to register two new companies, one called "Jingcheng Doudu Network Technology Co., Ltd." and the other called "Jingcheng Pinduoduo Network Technology Co., Ltd."
The paid-in capital of each company is 200 million. The initial development funds are sufficient and financing will not be considered in the short term.
DouShi Technology focuses on the short video APP field. Zhang Yida commissioned headhunters to poach many algorithm talents from Qiandu and is secretly developing an APP called "DouShi".
Pinduoduo is a social e-commerce company that focuses on C2B group buying. Zhang Yida arranged headhunters to poach Pinduoduo from Ali and Goudong. It is urgently developing the "Pinduoduo" APP.
Zhang Yida remembers that in his previous life, Huang Xing founded Pinduoduo in September 2015, and Toutiao was the DouShi APP that was only launched in 2016.
Sorry, in order to fight against Ahri and Penguin, develop a mobile payment strategy, and support Ruixiang and Yimin's overseas expansion, I had to plagiarize your ideas.
At its peak, Pinduoduo had more than 385 million active users, surpassing Goudong to become the second largest e-commerce platform in China.
Why is Paybay so popular? It’s because it’s tied to Ali’s e-commerce business and has high user stickiness.
If Mobao Pay is paired with Pinduoduo, it can still compete with Alipay.
The outside world thinks that this year Ruixiang will compete with Leech Financial and WeChat Pay to start the Three Kingdoms War.
Huge subsidies confuse the giants, and Zhang Yida’s real trump card is Pinduoduo.
In addition, Huang Xing should not be underestimated. He is a disciple of Boss Duan, the godfather of Little Overlord. He had dinner with Buffett and helped Ding Sanshi solve technical problems.
In the early days, he and Kai-Fu Lee co-founded Google China, and they have a deep business network.
Zhang Yida founded Pinduoduo at this time, which is likely to prompt Huang Xing to launch his own social e-commerce project earlier.
If you want to defeat the opponent, it depends on who can hug the penguin first.
After all, Pinduoduo is a social e-commerce company. Today, when traffic is drying up and customer acquisition costs are high, it is too slow to accumulate traffic bit by bit on your own.
The success of Pinduoduo in the previous life is inseparable from the huge help of WeChat traffic.
A classmate or friend who you haven’t contacted for a long time suddenly contacts you via WeChat, either asking you to borrow money or asking you to chop him up.
Penguin has never given up on the e-commerce industry. After the early failure of Paipai.com, it turned to holding shares to support Goudong, Vipshop, and Pinduoduo.
Zhang Yida founded Pinduoduo, and together with Ruixiang, he should become Jack Ma's biggest enemy, helping Goudong and Penguin attract a lot of firepower.
In this case, it is natural to join forces vertically and horizontally, and forming an alliance with Penguin is the best choice.
On DouShi, at its peak, domestic daily active users exceeded 320 million, and global monthly active users exceeded 500 million.
DouShi's traffic can be monetized by accessing e-commerce ports to divert traffic to Pinduoduo, or it can also be used to divert financial traffic.
In the previous life, DouShi was the largest loan supermarket in the country, and larger Internet financial companies spent more than tens of millions of advertising dollars on it every year.
DouShi and Ruixiang can carry out in-depth cooperation and bring continuous traffic support to Ruixiang's financial business.
DouShi also has many overseas users. If Ruixiang wants to go overseas in the future, the existence of the overseas version of DouShi can give Ruixiang’s development two wings.
In his previous life, Dou Shi himself tried out the e-commerce business and was taught a hard lesson by Jack Ma.
In this life, with Pinduoduo in hand, Doushi will have a certain foundation for developing its e-commerce business.
However, Zhang Yida is not in a hurry about the launch of DouShi products. Toutiao will not launch similar products until the second half of next year at the earliest.
There is enough time for DouYi to polish its products and improve technology research and development.
Either you don’t do it, or if you do it, you have to show off your overwhelming momentum.
In the previous life, as soon as TikTok gained a foothold overseas, Facebook began to develop short video products to counteract TikTok. It can be said that TikTok was a little late to go global.
If Zhang Yida takes control, he will definitely go overseas earlier and faster. He will grab the markets of Japan, South Korea, Southeast Asia, and India first. He can only try his best to fight for the European and North American markets.
…
“Can everyone share their views on Leech Financial’s investment in Paytm?”
In the Ruixiang high-level meeting office, Zhang Yida asked the senior executives present.
"Paytm has a total of 23 million users! I have checked that in the Indian payment market, they also have more than ten competitors such as Me and Flipkart.
These competitors of Paytm are backed by Indian state-owned assets and Wall Street investment banks, so it’s not certain who will win in the future.”
Xie Huaiyu is in charge of Mobao Payment, so he has been keeping a close eye on the movements of Leech Financial Services. The news of Leech's investment in Paytm had just spread, so he checked the information everywhere and did his homework.
Zhang Yida is very satisfied with Xie Huaiyu's work attitude, but does Xie Huaiyu know how powerful Paytm will be in the future?
With the financial and technical support of Ali and Liqi Financial, Paytm has become India's largest mobile payment and commerce platform; the world's fourth largest e-wallet; with more than 150 million users.
The investment made by Ali and Leech in India is undoubtedly a successful investment and a successful attempt to go overseas.
Having tasted the benefits, Ali and Leech successively created overseas versions of Alipay in Bangladesh, Pakistan, Vietnam, Thailand, South Korea and many other countries.
Alipay claims to have 1.2 billion users, half of which come from overseas expansion.
“I think with Ahri and Leech providing funds and technology, Paytm is likely to become the largest e-wallet in India.
And India is just the first step for Leech Financial to expand overseas, once they figure out the know-how of localized operations.
Maybe they will all enter Southeast Asia, Japan, South Korea, South America, Europe, Africa and other regions and countries.
Our Mobao Pay is still competing for market share in China, while Leech Financial Services Group has gone overseas, which is a bit annoying.”
Zhang Yida smiled self-deprecatingly and said.
"Mr. Zhang, the foundation of Mobao Pay is not very stable right now. When Leech Financial Services expands overseas, it is supported by the power of Ahri.
Ruixiang’s current foundation is still very shallow. I think we still have to be down-to-earth and consolidate the domestic market step by step before we talk about overseas markets.”
Xie Huaiyu knew from Zhang Yida's tone that the young boss was interested in overseas markets, and couldn't help but persuade him.
In his opinion, the disparity in strength between Ruixiang and Ahli is too great, and they are so ambitious that they may not achieve the share of overseas markets, but lose the domestic market.
Xie Huaiyu's words didn't sound so pleasant to the ear. But Zhang Yida also knew that what he said was indeed the truth. After all, Ruixiang's foundation was still a bit weak.
Chinese Internet companies began to go overseas on a large scale in 2015-2017, and started one after another in the past two or three years.
After the domestic market reached its peak, giants such as Penguin and Ali began to sink while going overseas.
If we go overseas now, many overseas companies have not yet developed, so they can be considered to be of high quality and low price.
Companies that can be acquired or invested in for tens or hundreds of millions of dollars now may cost billions of dollars in a few years.
Moreover, Penguin and Ahri have completely robbed the market, so Rui Xiang will only get ashes if he leaves late.
No, no matter what, I have to raise some money to expand overseas markets. Zhang Yida thought to himself.
"Lao Xie, what you said is very pertinent. Leech Financial Services Group can spend 500 million US dollars to buy shares without blinking an eye. We can't, we don't have that much money.
However, there are big ways to play, and there are small ways to play small.
Leech Financial Services engages in PE, focusing on mid- to late-stage mature projects and mergers and acquisitions.
Let’s do early stage and do VC.
Lan Lan, please tell me about the situation over there."
After Zhang Yida finished speaking, he turned his attention to Lan Lan, the group's CFO.
Lan Lan still looked serious and said without a smile:
"Mr. Zhang, we spent all the US$300 million from the first phase of the Ruixiang Industry Win-win Fund a year ago.
You asked me to raise the second phase of the fund, and now I am still communicating with Blackshirt Capital and Temasek.
The initial intention is that Ruixiang will invest US$100 million as a GP, and each of them will invest US$200 million as an LP.
In addition, Tokopedia has responded to us and agreed to our investment.
But they want $80 million, based on a post-money valuation of $800 million."
"Promise them, they are the largest e-commerce platforms in Indonesia.
However, there is a condition that Ruixiang needs to set up a local joint venture e-wallet company with them."
Zhang Yida had already made a plan in his mind. Ruixiang was not as wealthy as Leech Financial Services Group, so he just bought and bought all kinds of things.
First establish a foothold in Indonesia, and then slowly make plans.
“In addition to the US$80 million, Gojek’s US$5 million, and Traveloka’s investment of another US$50 million.
The three overseas investments totaled US$135 million.
Will the expenditure be too large? The funds in Ruixiang's account have been budgeted."
"Let's put it down first! We'll just raise enough for the second phase of the fund, and then we'll make up for it.
In addition, Ruixiang will also conduct a round of financing this year. The injection of new funds should relieve the pressure."
Zhang Yida rubbed his eyebrows and thought to himself, the money is still not enough! He has too many plans in his mind, and he has to keep looking for money to implement them all.
Lan Lan hesitated to speak, but finally couldn't help but said:
"Mr. Zhang, is the pace too fast? The first phase of the fund was spent in less than half a year. At this pace, the second phase of the fund will be spent in a short time.
Blackshirt and Temasek cannot provide us with unlimited funds. They also need to look at returns and project success rates.
It is estimated that after raising the second phase of the fund, they will not invest money in us within two to three years.
Moreover, the second phase of funds has been invested in overseas markets, what will happen to the upstream and downstream of our domestic industries?"
"Isn't the first phase of the fund arranged? Don't worry! We should have almost packed up all the domestic targets with potential in recent years.
The second phase of the fund wants to invest domestically, but there is no suitable target. If we don’t invest overseas to lay a solid foundation for Ruixiang to go overseas, why not leave it in the bank and earn interest?”
Zhang Yida wanted to laugh when he heard Lan Lan's words, so he invested in nearly 30 unicorns in the first phase of the industry fund.
That’s enough! Leave some of those with a market value of several hundred million dollars to your peers.