"We now have a total of 70,000 bicycles in Baimo, and our daily orders have exceeded 300,000.
Huimin has 720,000 bicycles and the highest daily order is 3 million.
In terms of operational efficiency alone, our Baimo bike is not inferior to Huimin Bicycle at all.
The only thing we lack is funds. With enough funds, we can also roll out a large number of cars and enter second- and third-tier cities."
Fu Weiwei was alarmed by the news that Huimin Bicycle had raised US$300 million in Series B financing, so she approached Happy Capital, a Series A investment institution, to discuss countermeasures.
"Mr. Fu, we at Happy Capital have supported you with US$30 million in Series A financing.
In addition, you, Baimo, have signed a gambling agreement with our Happy Capital, so don’t forget this.
In this situation, Huimin Bicycle is already unstoppable. If you still ask Happy Capital to throw money into it, I can’t explain it to LP!”
Liu Dahai shook his head repeatedly. Happy Capital is currently developing well and ranks second in the industry. But in the final analysis, the balance of victory and defeat has tilted towards Huimin Bicycle.
In this case, he will continue to invest only if his brain is kicked by a donkey.
"Mr. Liu, I don't think you want to see the US$30 million invested by Happy Capital go down the drain, right?"
Seeing that Liu Dahai was not interested in investing any more money, Fu Weiwei was ready to start using some strong medicine.
"What do you mean?" Liu Dahai frowned and looked at Fu Weiwei, feeling that there was something in his words!
Fu Weiwei smiled lightly and said: "Shopping malls are like battlefields. If you don't advance, you will retreat. If you don't get new capital injection, let alone let your $30 million investment appreciate, I think it will be difficult to maintain the value."
"Mr. Fu, if you have anything to say, just say it directly!"
Liu Dahai became a little impatient when he saw that Fu Weiwei kept following him in circles, so he glanced at her and said.
"Okay, Mr. Liu, let me tell you the truth. In front of Mobike, there is Huimin, a giant that needs to catch up, and behind, there are rising stars such as Xiaolan, hellobike, and Yonganxing who are trying to surpass us.
Baimo's situation is very awkward, caught in the middle.
But we are the most promising to surpass Huimin. Bet on us, and if we succeed in surpassing Huimin, the rewards may be dozens or hundreds of times."
Fu Weiwei smiled and analyzed Liu Dahai.
"You're right. This is also the place where we value worship the most. Sitting on two sides and looking at one, there is a statue of the overlord."
Liu Dahai nodded, but still said: "Having said that, if we are really asked to increase our bets, the risk is too great."
"You don't need to lead the investment. You can help contact a capital to lead the investment. Happy Capital can follow the investment or not."
Fu Weiwei revealed her ultimate goal, which was to ask Liu Dahai to help her find money.
"Well, this is fine. I will help you contact other employers."
Liu Dahai said that if Happy Capital was not allowed to contribute money or contributed less, he would not be unable to accept it. After all, 30 million US dollars had already been invested, and if the snacks were not provided, all the previous efforts would be wasted.
After talking to Liu Dahai, Fu Weiwei approached Li Bing and asked him to activate his network to help contact the employer.
Li Bing had more reputation than Zhang Yida. He shouted in the circle, and alumni like Dongfang Yu donated generously.
Baimo Bicycle quickly raised US$50 million in Series B financing, diluting 25% of its shares again based on the pre-investment valuation of US$150 million.
Fu Weiwei didn't want to dilute so many shares, but she knew that if she didn't raise more capital, the market would be completely taken over by Huimin Bicycle.
At that time, no matter how many shares you have, it will be just a piece of paper and worthless.
After receiving the US$50 million, Fu Weiwei announced a new car-building plan.
Because Huimin Bicycle drives the pace, Baimo did not choose a bicycle costing two to three thousand yuan like in his previous life. Like Huimin before, he also chose a shared bicycle priced at one thousand yuan.
This time Fu Weiwei decided to change her thinking and focus on quantity first, followed by quality.
If the market is completely occupied by Huimin, it will be useless no matter how good the quality is.
So Baimo launched a Qingqi version, with an ex-factory price of around 500 yuan.
Fu Weiwei sold 150 million yuan, nearly half of the financing amount of 5,000 yuan, and placed a production order for 300,000 bicycles in one go.
Fu Weiwei is determined to enter 30 important second-tier cities on the eastern coast and central China once the production of 300,000 bicycles is completed.
Fu Weiwei secretly thought, adding the original 70,000 bicycles, Baimo has a total of 370,000 bicycles. In addition, adding the market in 34 cities. Now, Baimo is not far behind Huimin Bicycle.
.
The big moves of Huimin Bicycle and Baimo Bicycle shocked the entire shared bicycle industry.
A reporter made statistics and reported:
Huimin Bicycle has completed four rounds of financing, namely Angel round, A round, A+ round and B round, with a total financing amount of US$477.5 million.
It has 1.72 million bicycles and has entered 126 domestic first-, second- and third-tier cities, occupying at least 70% of the market share in the shared bicycle industry.
Baimo Bicycle completed three rounds of financing: Angel round, Series A, and Series B, with a total financing amount of nearly US$100 million.
It has 370,000 bicycles, operating in 34 first- and second-tier cities across the country, occupying 10% of the market share in the shared bicycle industry.
Dozens of other shared bicycle companies have come together to share the remaining 20% of the market share.
This article went viral on the Internet, establishing Huimin Bicycle and Baimo Bicycle as one or two in the industry.
Stimulated by this news, second- and third-tier bike sharing companies have come up with their own unique skills and launched differentiated operations.
Wukong Bicycle announced the implementation of the "Sticker Project", planning to put information about lost children on 100,000 bicycles, and work with caring people in society to light up the way home for lost children.
Wukong Bicycle hopes to work with more shared bicycle partners to deliver the power of public welfare.
In addition to Beijing, Zhixiang Bicycle has launched a franchisee model in eastern Guangdong, Jiangsu and Zhejiang, in an attempt to increase market share with the help of external forces.
At the same time, it also innovatively carried out the industry's first car body advertising monetization, installing LED lights on the bicycle wheels, turning the wheels into outdoor billboards.
Qibei Bicycle made a striking move: it announced that all its bicycles in Lin'an will be free of charge throughout the year. Qibei users who have activated the bike rental function can qualify for free in 2015 as long as they participate in voting in the APP.
If the number of voters reaches 500,000, voting will be free for all LA citizens in 2015.
Hellobike announced: Through staff night inspections and data analysis, it was found that citizens are highly receptive to this new mode of travel. After the subway and bus were suspended, a large number of users had travel needs.
Hellobike announced that night riding is free to supplement the urban travel system.
Xiaolan Bicycle officially proposed the "Civilized Convention on Fair Competition in Shared Bicycles", which stipulates the "three no's" of all parties, that is, "no destruction/no containment/no private possession", and advocates users to be "civilized" on shared bicycles.
Use/Civilized Display/Civilized Care”.
Uberbike has launched a new generation of shared bicycles in green for men and pink for women based on its first shared bicycle model "Harley".
And announced that it is the first company to launch shared bicycles for men and women.
Kuqi Bicycle has released a new charging standard: the first 10 rides are free, and then 0.3 yuan/half hour.
In addition, Kuqi announced that it will enter the Sichuan-Sichuan market and is expected to launch 500,000 shared bicycles.
Yongan, one of the largest public bicycle operators in China, announced the launch of "Yongan Xing" in Chengdu and plans to launch 100,000 shared bicycles in the area.
Yongan has its own operation and management team in more than 100 cities in China and operates more than 800,000 "shared bicycles with piles".
Yongan’s leadership told reporters: Yongan has been deeply involved in the bicycle field for 6 years and has its own unique advantages in entering the shared bicycle industry.
The next step will be to jointly operate dockless and docked shared bicycles, and the two will complement each other to further improve the travel rate and service level of urban green transportation.
Yongan's previous entry into the industry was called "Wolf is coming" by the industry. This high-profile statement may have been stimulated by Huimin and Baimo.
In terms of the number of bicycles, YA City ranks second only to Huimin's industry, and Baimo's is less than half of it.
So many intensive press conferences on shared bicycles have attracted the attention of the whole society.
Everyone is speculating whether the shared bicycle industry will start a crazy money-burning mode like the O2O Hundreds of Groups War.
Zhang Yida also noticed these news and came to Huang Xiaofeng to discuss countermeasures.
"Several shared bicycles have lowered their riding rates. Should we also lower them?"
Huang Xiaofeng asked Zhang Yida tentatively.
"It's hard to lower it! Our B-round financing signed a bet with a revenue of 1.44 billion yuan. If the riding rate is lowered again, I'm afraid we won't be able to complete the bet agreement."
Zhang Yida also has a headache. The shared bicycle industry is becoming more and more popular, and competition for existing bicycles has basically begun.
In order to seize the market and obtain financing, small businesses began to engage in price wars.
If we continue like this, we are very likely to enter into a money-burning war like in previous lives.
"The bet is not hopeless. Our current daily orders are 3 million. After all 1.7 million bicycles are deployed, it will be easy to predict that daily orders will reach 5 million.
5 million orders, each order costs an average of 30 cents, and the daily income is approximately 1.5 million yuan, which is more than 500 million yuan a year.
In the middle and end of the year, we will conduct two more rounds of financing and strive to increase the number of bicycles to 3 million to 4 million.
If the quantity reaches double or even more than double the current amount, then isn’t there hope for the revenue target of 1.44 billion?”
Huang Xiaofeng calculated the financial accounts for Zhang Yida. What he meant was that the income had dropped and the number of bicycles would be used to make up for it.
Zhang Yida thought he was too optimistic and said:
"You lower the price of bicycles from 5 cents and a half an hour to 30 cents and a half. In the future, competitors will reduce the price to 10 cents, or even completely free. Should we follow up?"
"Um...that's right! We can't let them lead us by the nose like this."
Huang Xiaofeng also realized that the price of bicycles has dropped from 1 yuan an hour to 5 cents and a half an hour now, and will soon be 3 cents and a half. It is not impossible for competitors to launch a completely free slogan in the future.
Didn’t Lin’an announce that cycling is free throughout the year?
It’s okay for a small business like Qibei to announce that it’s free in a city. Zhang Yida is most afraid that Yonganxing and Baimo will start a price war with him.
Both of these two companies have hundreds of thousands of bicycles, which are quite large and have entered dozens or hundreds of cities across the country.
They put out the slogan of free riding, will Huimin follow up or not?
If we follow up, our bet on annual revenue of 1.44 billion will definitely be lost.
If we don’t follow up, Huimin Bicycle will lose its number of bicycles, users and orders to competitors.
Without the number of users and orders, Huimin would be passive in financing.
Even though it is so easy for Huimin Bicycle to raise funds now, it is based on being the industry leader and number one in the industry.