I collect gold fingers in the heavens

Chapter 361 Takeaway for sale, one vote veto (please subscribe, please support)
[Bikong Environmental Protection Business Development Co., Ltd.] in Luzhou City is booming, but Wu Siyuan has already returned to Yangcheng, Yue Province.

Here, there is another matter for him to decide.

Questions about [Qiandu Waimai], which was previously invested strategically by [Chaoqun Group].

[Qiandu Waimai] finally couldn’t hold on anymore, and the parent company [Qiandu] planned to sell it.

Recalling the development of [Qiandu Waimai], before 2016 was the glorious period of [Qiandu Waimai]. When [Eat Me] and [Lituan Waimai] were still fighting in the campus market, [Qiandu Waimai] relied on [ With the support of Qiandu Group’s funds and traffic, it was the first to exert its strength and dominate the white-collar market, with a share as high as 33%.

However, the bad luck is that in 2016, [Qiandu] tried to transform into an artificial intelligence company after experiencing a series of events such as stock price drop and market value shrinkage. Being marginalized, even when raising funds, no investors were willing to raise funds. In the end, they found [Chaoqun Group], which had a conflict with [Lituan Waimai] at that time, and finally raised funds.However, [Qiandu Waimai], which received this fund, was only lingering. After burning out, it faced the danger of breaking the capital chain, and later came to [Superior Group], but [Superior Group] did not need [Qiandao Group] at that time. Du Takeaway]'s Internet port, naturally I don't want to be this fool.

In fact, at the beginning [Qiandu Waimai] entered the field very accurately.

According to data from third-party data agencies such as iResearch and Analysys, white-collar workers account for more than [-]% of the entire food delivery market due to their strong consumption power and high customer prices, far higher than the [-]% of the campus market. A strategic bunker, which means that whoever wins the white-collar market will be able to win the food delivery war.

From this point of view, [Qiandu Waimai] took the lead in entering the white-collar market because it seized the opportunity.

It's just that they couldn't keep up behind and were caught up by latecomers.

Since the second half of 2015, [Eat Me] and [Leituan Waimai] have reacted and shifted their strategic positions from the campus market to the white-collar market. To help out, on the other hand, stick to the elevator media where white-collar workers gather, and do bombarding spread.

After the first round of launch in 2016, the ranking of [Eat Me] app store has risen from more than 100 to about 20; the average daily turnover in the white-collar food delivery market has also risen rapidly from 700 million to 3500 million. After several launches, [Eat Me] quickly won the white-collar market, and gradually established its leading position in the food delivery competition.

Later, [Lituan Food Delivery] also launched a strong attack on the media in office building elevators, which white-collar workers must pass by every day. The slogans [Lituan Food Delivery delivers everything quickly] and [Orders will be delivered within 30 minutes] are deeply rooted in the hearts of the people.

After a few rounds, the battle between the two heroes has been decided. It is reported that [Eat Me] and [Lituan Waimai] had an average daily turnover of more than 5 million yuan, while [Qiandu Waimai] fell behind.

The backwardness of [Qiandu Waimai] also has a lot to do with itself.

When everyone is busy detonating the brand and grabbing market share with a large amount of subsidies, [Qiandu Waimai] spends limited funds and energy on building a quality food service platform consisting of central kitchen, fresh food, food supply, supermarket, crowdsourcing, and e-commerce platform. The food delivery ecological chain composed of choosing life, etc., led to the simultaneous loss of a large number of B-end and C-end resources, and finally handed over the once dominant white-collar market to others.

It’s not that it’s wrong to build a food delivery ecological chain. It’s a matter of practicing internal skills and solidifying yourself, but it also depends on the time period.

It was the time when the market competition was the fiercest. At this time, we should act like a wolf, fighting, grabbing, and seizing the first opportunity.

This is a stage where food delivery companies can develop rapidly.

If at this stage, we can seize this window period to carry out saturation attacks to detonate the brand, and take the lead in seizing the minds of users, we can effectively leave the latecomers behind. Even if we want to catch up, we will need to pay a high price.

【Thousands of Food Delivery】It was dumped like this, but it wanted to come in again, and no one was willing to give him a chance, willing to pay the price for him!
Of course, [Qiandu Waimai] also had several other strategic mistakes, which led to the current situation and it was completely unable to turn around.

For example, struggling to cope with the attacks of other food delivery companies, the cash flow was cut off, and there was no replenishment. In the end, a large number of employees had to be laid off.

Secondly, [Qiandu Waimai] gave knights a holiday during the Spring Festival, which made it difficult to achieve basic delivery for a long time, affecting the efficiency and reputation of the platform, and resulting in stagnant growth.

Finally, and the fatal point, in November 2016, in order to obtain financing and show investors a better report card, [Qiandu Waimai] adopted the method of drinking poison to quench thirst - regardless of turnover, to increase profits, that is, in An additional 11% commission is charged at the merchant level, and delivery fees are increased at the user level.

Consumers are not fools!

The same store, the same dishes, why is it so expensive on your platform, and the delivery speed is not so fast?
Consumers vote with their feet!
So far, the market share of [Qiandu Waimai] has continued to decline, and is currently less than 7%.

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For its parent company [Qiandu], [Qiandu Waimai] has become a proper strategic negative asset, and the desire to sell it is getting stronger and stronger.

[Qiandu] The people in the company have found many buyers in the market.

Among them, the one with the strongest intention is [Shunfeng].

[Shunfeng] is the number one private express delivery company in China. [Shunfeng] has always been active in food delivery. In the context of the failure of [Heike] and the failure of [Shunfeng], it still hopes to use O2O corners to overtake.

On February 2017, 2, after [Shunfeng Holdings] was listed on the Shenzhen Stock Exchange, SF Express’ willingness to invest in [Qiandu Waimai] was significantly strengthened.However, after more than 24 months of negotiations between the two parties, [Shunfeng Holdings] is only willing to invest 2 million US dollars in shares and sign a series of agreements with [Qiandu] company, but [Qiandu] company insists on using [Qiandu Waimai] the latest The valuation price of 2 billion US dollars was negotiated with [Shunfeng Holdings], but the negotiation between the two parties failed.

[Qiandu] turned around and found [Have you eaten]!
At this time, [Eat Me] got a strategic investment from [Ali], with sufficient funds, and was also very interested in the white-collar market share of [Qiandu Waimai], hoping to make [Eat Me] bigger through a strong alliance ] market share.

The negotiation process between the two parties was relatively smooth, and the acquisition conditions were finally reached: the total acquisition amount is 11 billion US dollars, of which 8 million US dollars is cash, and [-] million US dollars is the traffic entrance fee packaged by [Qiandu].

However, after [Qiandu Waimai] has reached an agreement with [Eat Me], it does not mean that [Qiandu Waimai] will be successfully acquired.

Because the sale of [Qiandu Waimai] still needs to be approved by [Chaoqun Group].

At the beginning [Chaoqun Group] invested nearly 6.6 million dollars in [Qiandu Waimai]. In addition to obtaining [-]% of the preferred shares, it also obtained a lot of rights and clauses, for example - a veto right for major events!

This is a lot of power!
For the development of the company, financing is essential, but investors are not spending real money for charity. Generally, they will appoint their own people as directors to join the board of directors of the invested company. Many investors will also ask the board of directors to vote for a veto attribution.

This is because experienced investors know that a veto power is an important part of realizing the control of the board of directors. After all, the board of directors is the helm of the actual operation of the company.

But a veto power is really a double-edged sword. If it is used well, it can smoothly reconcile internal conflicts, let the dragons "have" the leader, and thus speed up decision-making efficiency; if it is not used well, it will become a never-ending between capital Many start-up or even mature companies eventually fail because of the veto power held by investors in the board of directors.

There used to be a leading domestic digital company, but it has since declined. There are rumors that the directors appointed by investors abused a veto power in the board of directors, which caused the founding team to lose control of the board of directors. Many ideas could not be implemented, which dragged down The company's development speed was eventually gradually eliminated by the market.

And why do the directors of the investor love to veto with one vote?The reason is simple: the directors appointed by the investors will intervene too much in the specific operations of the company for the sake of safeguarding the interests of the investors, but the investors' understanding of the company's development direction is often inconsistent with the founding team.

Most of the investors just want to get back their capital as soon as possible, but the founding team has a plan for business development. It is very easy to cause conflicts between the two, and this kind of conflict is at the level of ideas and basically irreconcilable, which means that the company's operations will suffer Big question.

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[Chaoqun Group] has one-vote veto power on major matters!

Although this power [Chaoqun Group] has never been used, even the management of [Qiandu Waimai] has almost forgotten the power of the strategic investor [Chaoqun Group].

But the power stipulated in black and white is recognized and protected by law.

[Qiandu Waimai] wants to sell to [Eat Me], it must get the consent of [Super Group].

Even if [Chaoqun Group] does not have this right, thousands of [Shennong Orchards] under the name of [Chaoqun Group] are exclusively online on [Qiandu Waimai].

[Shennong Orchard] has a high reputation in the white-collar market and the mid-to-high-end residential market, and the online transaction orders generated account for a large share of the orders of [Qiandu Waimai].

You know, in another time and space without the black swan [Super Group], [Qiandu Waimai] was acquired by [Eat Me] as early as August, and the acquisition amount did not reach 8 billion US dollars, only 11 million US dollars, of which [Qiandu]’s traffic entrance fee of 8 million US dollars has not changed, but the valuation has increased by 3 million US dollars.

The reason for this increase is the exclusive launch of [Shen Nong Orchard] is the key.

Over the past year, [Lituan Waimai] has approached [Chaoqun Group] many times to negotiate, and offered extremely generous conditions, including [top store ranking rights], [free commission], [brand advertising], etc., but in exchange All of them are [no]!
I heard that the president of [Leituan Food Delivery] has scolded the senior management above the brand manager at the time for this many times.

This shows the importance of [Shen Nong Orchard]!
Just for this point, if [Qiandu Waimai] wants to make a big move, he has to greet [Superior Group] in a friendly manner!

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In fact, under normal circumstances, no investor would veto the sale of [Qiandu Waimai].

Anyone with a discerning eye can see that [Qiandu Waimai] is already a leaky boat, if it continues, it will only sink and destroy people.

Now [Eat it] is willing to buy, and the conditions offered are not bad, which can make up for part of the loss.

For example, [Chaoqun Group] holds 6.6% of the shares in [Qiandu Waimai]. This acquisition can get 7200 million US dollars.

[Chaoqun Group] invested US$9800 million in [Qiandu Waimai] at the beginning. In other words, without considering the depreciation of the currency, [Chaoqun Group] made a loss of US$2600 million in this investment.

Compared with losing everything, it seems to be a good thing to be able to recover 7200 million US dollars.

And [Superior Group] will have no other losses.

Normal investors or investment institutions will not object to this sale.

For example, when the situation was reported to Wu Siyuan this time, the person in charge was just making a routine report and did not think that Wu Siyuan would object.

But when Wu Siyuan saw it, he had a faint feeling in his heart that the logistics delivery capacity of the food delivery company would be important at a certain stage in the future, so he should not give up casually.

Wu Siyuan believed in this feeling, he felt that the ability of [Future Foretelling] was reminding him.

In addition, the food delivery industry has been cultivated into a huge market.

It can’t be said that it is mature. After all, the current food delivery industry still relies heavily on subsidies to attract consumers to place orders, so as to cultivate consumers’ usage habits, just like the original online car-hailing industry.

But in any case, the food delivery industry is also an industry with great influence.

If he can get a piece of the pie in this industry, the influence Wu Siyuan wants will not be less!

After all, the most takeaway is food at present.

And the people depend on food!

After careful consideration, Wu Siyuan made a decision-to deeply intervene in the food delivery market.

In Yangcheng, he held a meeting with the senior management of the group and the top management of the Internet business department, and implemented this decision into the strategic policy of the group.

And the first thing after the meeting was to disturb the acquisition of [Qiandu Waimai] by [Have you eaten].

Because developing a food delivery business from scratch, the time is too late, and the efficiency is a bit slow.

And if you can get [Qiandu Waimai] and integrate it on the basis, then you can enter this market in the shortest possible time and continue to compete with the two heroes in the food delivery market!
Since this is the case, [Qiandu Waimai] cannot be sold.

Because [Chaoqun Group] wanted to buy it, and wanted to buy it at an ultra-low price.

Who told [Superior Group] to have a veto right!
(End of this chapter)