Zhang Yida sat on the leather chair in the office, stared at an operations report on the table, and began to read it seriously.
This is Mobao payment operation data one week after the launch of Ditui. It has just been extracted from the background and is the latest and most real-time data.
"There are 31,682 merchants with account openings, and 30,864 merchants have transaction records if they are effectively activated."
"There were 879,863 trading users, and 35,194,520 yuan of red envelopes with full discounts and merchant encouragement were issued."
The progress of the local promotion is very fast. There is absolutely no problem in completing the promotion to 100,000 merchants this month.
It’s just that the distribution of user red envelopes and merchant red envelopes was a bit too scary, with more than 30 million yuan burned in one week.
There are only a few million left before the 40 million line set by Zhang Yida, and it is estimated that they will all be burned out after today.
This is the result of tampering with the user's red envelope in the background.
Users randomly reduce red envelopes by 1-99 yuan, and the average is set at 20 yuan.
In addition, merchants also need to receive the same red envelope, and the cost of promoting a user is 40 yuan.
I can’t afford to be hurt!
Zhang Yida made a call to Mobao Pay CEO Yu Cong in Chengdu.
Zhang Yida said:
"Didn't we send random instant discount red envelopes ranging from 1 to 99 yuan to users in the background? We are still talking about Series B financing, and the funds have not come in yet, so it is a bit overwhelming now."
"If you change the settings in the background, the red envelope will be reduced to an average of 5 yuan each. In this way, our customer acquisition cost will be 10 yuan each."
"There are still almost 5 million active funds, which is enough to acquire 500,000 users."
"We'll hold on for a week and see the effect. Once the venture capital comes in, we'll see if we adjust."
Of course Yu Cong didn't dare to object. This was the big boss's order! We could only follow it!
After Zhang Yida hung up the phone, he felt that this promotion was a bit misguided. The initial funds were burned too quickly and the red envelope was set too high.
Mainly because I was thinking about going to war with the giants, my mentality was a little unbalanced, and I was anxious!
But it’s okay, I’m about to contact venture capital institutions, and it’s absolutely right to do well.
Then Zhang Yida called Shen Beipeng again and said with a smile:
"Teacher Shen, what do several institutions say?"
Shen Beipeng joked:
"You have a very good nose. I just finished chatting with those parties and reached a preliminary consensus. So you called me."
Zhang Yida chuckled and said:
"I'm not in a hurry! After one week of promotion of Mobao Pay, there are nearly 1 million transaction users, and there are more than 30,000 cooperative merchants. Money is burning fast, more than 30 million is gone."
Shen Beipeng was a little moved and said:
"So fierce? Isn't it a bit too much?"
Zhang Yida said calmly:
"Don't worry, everything is under control. If we don't get some results, it will be difficult to talk to the next few institutions!"
Shen Beipeng also agreed:
"Okay, just control your rhythm. I support whatever decision you make!"
At 8 o'clock in the evening, you go to the Ritz-Carlton Hotel!
At the dinner table, people from GGV, Qiming, SBI, and Temasek will come.
They may ask you some questions, so be prepared."
After hanging up the phone, Zhang Yida asked his administrative assistant to submit a copy of the company's latest operating data and financial statements.
The matter was so important that Zhang Yida had to be cautious. Then he called Lin Zhenyang to communicate with each other and discuss their suggestions internally.
…
8 p.m., Ritz-Carlton Hotel, Beijing.
Lin Zhenyang and Zhang Yida were both invited to the scene. Also present were Xu Xiaoming, Shen Beipeng, and four investors representing four major institutions.
Shen Beipeng introduced Zhang Yida and Lin Zhenyang one by one, and everyone shook hands and took their seats.
Zhang Yida began to introduce to everyone:
"Ruixiang Financial Technology Group currently has seven subsidiaries: Touronghui, 365 Accounting Manager, Kawang Credit Card Manager, Touronghui Finance, Mobao Payment, Mung Bean Credit, and Tiance Technology.
The business covers financial management supermarket, loan supermarket, credit card supermarket, accounting management, credit card management, financial information, mobile payment, personal credit management, big data risk control system output and other sectors.
At present, the number of registered users of Toufonghui One Account has reached 110 million, and it continues to grow at a monthly growth rate of 12%. It is expected that the total number of users will exceed 200 million by the end of 2014.
In terms of financial data, the current Q1 financial quarter financial report has been released, with revenue reaching 750 million. After deducting R&D investment and Mobao’s recent event sales expenses, the pre-tax net profit is 480 million.
The financial supermarket has a revenue of 300 million, the loan supermarket has a revenue of 300 million, the credit card supermarket has a revenue of 100 million, and Mobao Pay has a revenue of 50 million.
Mobile payment, credit management, and risk control technology output will be our next focus. We have not yet generated revenue, and we have been increasing investment in research and development and polishing products."
…
A thin-looking young investor in his twenties spoke:
"Mr. Zhang, after your explanation, I have almost understood Ruixiang's development direction and business model.
Ruixiang is indeed an excellent startup company. I admire your company and Mr. Zhang very much.
However, there is a problem. The development direction of Ruixiang is somewhat similar to that of Leech Financial Services Group. If the giants counterattack, what will you do to resist or even counterattack? Where are your business barriers? "
Zhang Yida had just been introduced by Shen Beipeng and knew that this was Li Hengbo, the investment director of Temasek.
In his twenties, he held a high-level position as investment director at Temasek, a giant company with assets under management worth hundreds of billions of dollars. His surname is Li, so he should be the second or third generation.
This is the God of Wealth. You can still pay homage to the pier when entering Southeast Asia in the future, and you cannot offend him.
So Zhang Yida patiently explained:
"Mr. Li asked this question very well. We Ruixiang and Leech Financial Services will definitely have a battle.
In other words, the war has already begun on the mobile payment battlefield.
Our QR code payment has been online for one week, and has opened more than 30,000 offline merchants and nearly 1 million individual users.
This is cutting off the flesh of the giant and draining his blood.
Will they let Ruixiang go? No.
Can we defeat them? The hope is high.
Because the giants do too many and complex businesses, it is impossible to cover every business line.
And we Ruixiang only focus on finance.
It has only been 7 months since the company was established.
In 7 months, we have grown to our current scale. Isn’t it an exaggeration to call us a small Internet giant?
How will we develop in one year or two years? Then the offensive and defensive positions may change. We attack and they defend.
The most critical point is that we are now cheaper than him and have more room for growth."
Li Hengbo clapped his hands and said with a smile:
“Okay, it’s wonderful. The growth potential of Ruixiang is also what we at Temasek value.
Of course, what I value most is your courage, Mr. Zhang, and your courage to draw a sword against giants. With our support from Temasek, even giants can fight against you."
Zhang Yida thought in his mind that the previous sentence should be true, and he could just listen to the following sentence. If the fight really started, it would be fine if the fight went smoothly, but if he lost the battle, he would have to say:
"Mr. Zhang, let's divide the luggage!"
An elegant middle-aged man sitting next to Li Hengbo, wearing black-rimmed glasses and looking a bit like a university professor, smiled at Zhang Yida and then asked:
"Mr. Zhang, please talk about the valuation of Ruixiang Jinke, the scale of financing, and how the money will be spent after the financing comes in? Talk about the subsequent business expansion and the direction of spending money."
Zhang Yida nodded slightly towards him and continued:
“I think Ruixiang Jinke’s valuation is US$3 billion!”
I paused and looked at everyone. They were all looking at their eyes, nose, nose, mouth, mouth, and heart. They were all calm and calm.
Zhang Yida then analyzed:
"When the last round of financing came in, the valuation was US$250 million. At that time, there were only Toutonghui, 365 Accounting Manager, and Kawang Credit Card Manager. Now the business scale has doubled. This valuation of US$1 billion is absolutely unheard of.
Overrated.
Now we have added investment and finance, loan supermarket, and credit card supermarket. This part of the business generates most of the revenue, and its valuation of US$500 million is more than enough.
The future revenue of Mung Bean Credit and Tiance Technology will definitely be no less than the current major businesses.
We have cooperation resources with hundreds of loan companies, and there is definitely a market for providing them with personal credit inquiry calls and big data risk control system services in the future. This sector is worth at least US$500 million.
The other one is mobile payment, which is our next most important business direction.
Not only the money raised from financing, but also the profits generated by the company's other businesses will be invested in the market development of personal payment business.
This sector has gathered most of the company's resource investment and also has the broadest future prospects. I think it is worth US$1 billion."
The investors didn't say anything. They were all like old foxes, very shrewd and did not express their opinions easily.
Zhang Yida licked his dry lips and continued:
“I want to raise US$500 million in financing.
The purpose of this money is divided into three parts.
The first part is to establish research institutes for four cutting-edge technologies: big data, blockchain, artificial intelligence AI, and cloud computing.
Provide the company with the most cutting-edge technology as back-end support, while conducting product research and development and iterative updates.
Technology is the primary productive force, and technology has always been what we pursue and value as a financial technology company.
The second part involves the development and launch of new products and the acquisition of financial licenses to improve the company's layout.
New products include fund supermarkets, trust supermarkets, insurance supermarkets, monetary fund financial management, consumer installments, cash loans, and crowdfunding projects.
Therefore, it is necessary to establish or acquire a fund sales license, an insurance agency license, a public fund license, and an Internet small loan license.
The most expensive and difficult thing is to get a public fund license. It is hard to come by, so the most likely option is to find a company to cooperate with and invest in it.
Then there are public funds as managers who launched the currency fund financial product "Coin Jar" in Touronghui, which can be withdrawn and deposited at any time to realize the huge financial flow.
The third part is the mobile payment user subsidies.
Of the US$500 million I plan to raise, which is equivalent to RMB 3.1 billion, I will spend more than half of it, RMB 1.6 billion, on this.
The goal is to open 5 million offline merchant accounts and reach 100 million personal payment users.
The above is the next business layout and capital investment direction of Ruixiang Jinke.