My rebirth is different

Chapter 674
Yu Wenfei was not surprised. He had already reminded Li Xin not to be fooled by the performance of WeChat when it was first launched.

Because the design concept of WeChat determines that its audience is different from that of QQ.

WeChat adopts a "minimalist style" and puts practicality first, so it will be more popular with some college students, white-collar workers, and older people.

But for middle school and high school students, WeChat is not as "bells and whistles" as QQ.

WeChat has no hierarchical system, no "sun, moon, and stars" to hang on to, and no QQ show. However, WeChat is very functional, with stable and reliable message transmission, an easy-to-use email system, and a clean interface.

Therefore, after a period of time, the user group of WeChat has gradually stabilized, and it has already been loved by some college students, and it is slowly invading MSN's territory in the workplace.

Of course, it will take time to completely replace MSN.

4000 million DAU is already very, very good for a software that has just been launched for less than a month.

But Li Xin and some shareholder representatives are still not satisfied, because this is a project they have high hopes for, and it has been valued at 50 billion US dollars just after its launch!
No one regards it as a new project, but a new generation of Internet instant messaging giants standing on the shoulders of many companies in the Facebook family!

So the expectations for it are naturally very high.

4000 million DAU is obviously unsatisfactory.

"It's okay, WeChat is a long-term project, so you don't have to worry about temporary gains and losses. What's more, WeChat's current situation is not bad. Don't look downcast, everyone thinks WeChat is a failure if you don't know it, haha... "Yu Wenfei smiled and comforted everyone.

The rest of the shareholders also laughed. Yu Wenfei was right. WeChat, as a rising star, can rise up under the two mountains of QQ and MSN. After one month of launch, it has surpassed MSN in the domestic market, and has even formed a threat to QQ. , have done well.

After listening to Yu Wenfei's comfort, Li Xin's face also relaxed. He has been under a lot of psychological pressure during this period of time.

"I called everyone over today. Actually, what I want to talk about is a function of WeChat, a function that has not been fully utilized yet." Yu Wenfei said seriously, and everyone became serious and listened carefully to what he said.

"That's WeChat Pay! This function may not be realized by many shareholders here. Therefore, I specially invited our friend Jack from Citigroup. He must have a deeper understanding of this." Yu Wenfei said As he stood, he turned his head to look at Jack, the shareholder representative of Citibank.

Jack, with short blond hair and a burly figure in a suit and leather shoes, nodded.

He said: "WeChat payment, I have done research recently. Frankly speaking, I regretted not investing in WeChat at that time!"

Everyone was a little puzzled. At that time, Yu Wenfei gave everyone the opportunity to invest in WeChat, but Citigroup refused and gave the opportunity to Shen Nanpeng.Now he said that he regretted it again, what is he trying to sell?

"Internet instant messaging software is not very attractive to us at Citigroup. After all, our main business is still a bank, not a venture capital investment. What's more, the valuation of WeChat at that time was already very high. Got it, haha." Jack laughed.

Everyone nodded. Citigroup's decision at that time cannot be said to be wrong. They have their own judgment and basis.

"Why do I say I regret it? It's because of WeChat Pay! This kind of online payment has already had a successful precedent in Europe and the United States, and that is PayPal. Everyone should have heard of it." Jack explained again.

PayPal is an online payment company in the United States, which has a similar function to WeChat Pay. It was acquired by EBAY for US$2002 billion in 15.

"Even if WeChat Pay reaches the scale of PayPal, its value is actually not too great, and it will not arouse our interest at Citigroup. However, recently, because we have more cooperation with Feizong, we have studied Feizong's investment again. Trajectory, found an interesting thing.

That is, Fei Zong itself is one of the major shareholders of Shanghai Pudong Development Bank, and WeChat Pay has a very close relationship with Shanghai Pudong Development Bank!

From this we speculate, will WeChat payment develop in the direction of comprehensive online financial services in the future?
If so, the prospect of WeChat payment is too bright!
Moreover, for the financial business, we at Citigroup are very interested. "

Jack said all his thoughts in one breath, and he looked at Yu Wenfei with a questioning look in his eyes.

Yu Wenfei smiled and said, "This is what I'm calling everyone to talk about today."

He beckoned, and Pei'er stood up behind him, took out a stack of thin folders, and distributed a copy to everyone present.

When everyone opened it, their expressions became cautious.

The document in the folder is titled "A Plan on Spinning off WeChat Payment and Establishing an Online Financial Services Company."

This move that has been ambushed for a long time is about to start to play its due role.

Compared with WeChat, WeChat Pay has not developed much at present. Although it already has the function of online payment, Shanghai Pudong Development Bank and China Merchants Online Bank also have this function, so WeChat Pay is currently not used by many people.

Moreover, Alipay, which was launched by Alibaba itself a while ago, was directly stopped by the competent banking supervision department.

However, WeChat Pay did not open up Alibaba's payment channels. Alibaba directly connected to the online banking systems of Shanghai Pudong Development Bank and China Merchants Bank, but rejected WeChat Pay.

Without a payment scenario, no matter how easy WeChat payment is to use, there is no room for it.

However, Yu Wenfei didn't take it seriously at the time. WeChat and WeChat payment are not projects that are eager for success. Do it first and then develop.

The reason why we want to talk about WeChat payment separately this time is because the opportunity has come. Taking advantage of this opportunity, we can take WeChat payment a big step forward!

In this plan, Yu Wenfei formally proposed that the function of WeChat payment should be spun off separately to form a branch company.The newly established online financial service company will no longer be limited to online payment, but will develop comprehensive financial services!
For example: domestic and foreign currency financial leasing business; absorbing fixed deposits of shareholders with a period of one year or more; accepting lease deposits from lessees; transferring lease receivables to commercial banks; issuing financial bonds upon approval; interbank lending; borrowing from financial institutions; Overseas foreign exchange borrowing; sale and processing of residual value of leased items; economic consulting business...

The future even includes insurance business!
This is actually all the business of a bank!

…………

"Mr. Fei is sure to get a financial license?" Jack from Citibank said in surprise.

He is most familiar with these, and of course most interested.

In order to enter the domestic banking industry, Citibank has done a lot of work and invested a lot of human and financial resources, but until now, it still has not really controlled any bank.

"Be sure, and these are only long-term goals. For the time being, we will focus on online payment, and at the same time start to establish a personal credit system for Internet users. These things can be cooperated with Shanghai Pudong Development Bank." Yu Wenfei replied seriously.

According to his plan, WeChat payment is indeed not suitable for existence as an auxiliary function of WeChat, because the prospect of this business is exciting!
This is another big project worth tens of billions of dollars!

"The project is very good, but... doing financial business in China is very difficult to promote. Let's talk about online payment. Now there are online banking of regular banks. Our WeChat payment is basically not used by anyone, and there is no place to use it. So This plan..." Shen Nanpeng reminded cautiously.

What he said is indeed reality, the ideal is very full, but the reality is very skinny.

Even the basic online payment function has not been promoted yet. Facing the competition from several major banks, why should users trust the financial services of a private company like you.

In China, in terms of credibility, private companies are still incomparable with state-owned banks.

"If there is no solution, I wouldn't call everyone here today. Suppose we invest [-] to [-] million U.S. dollars to directly promote WeChat Pay to reach tens of millions of users, and all users are high-quality users. Make a certain amount of online payment through WeChat payment. So, do you think it is worth the money?" Yu Wenfei said calmly.

Everyone was taken aback, and began to think about Yu Wenfei's words.

According to him, it is to spend [-] to [-] million US dollars to directly push the WeChat financial business to the level of tens of millions of users, and all of these users are top-quality users, and each of them is a real user, and it is the activated one.

If this effect can be achieved, the two to three hundred million dollars will be worth the money!
Financial users, especially high-quality and high-net-worth users, are so precious.

More importantly, if WeChat Finance can have so many high-quality users, then it has in fact become an online financial giant in mainland China. After the user credit system is established, it will be even more difficult for latecomers to compete with it.

"If we can achieve the effect Mr. Fei said, then of course it's worth it! What does Mr. Fei need us to do?" Shen Nanpeng asked first.

Yu Wenfei smiled slightly, "Of course, it is to let everyone have money to contribute money, and to contribute effectively. If you want to establish an online comprehensive financial service company, you need a large number of professional financial personnel, and the initial start-up capital, which is the [-] million I said U.S. dollars, let’s see which shareholder can pay for it?”

WeChat Pay is a department of WeChat Technology. If it were to be spun off to form a separate company, the original shareholders of WeChat Technology would naturally directly own the corresponding shares.

That is to say, Yu Wenfei monopolizes [-]%, Softbank Capital [-]%, Modu International Trust and Investment Company [-]%, Shen Nanpeng [-]%, and Jiaotong University Venture Capital [-]%.

"I don't know if we can get this money from Citigroup!"

Before others could speak, Jack from Citigroup couldn't wait to speak.

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(End of this chapter)