Reborn I want to surf

Chapter 944 No one is innocent

Meituan’s last financing was US$2.5 million, led by General Atlantic Group.

Wang Xing originally thought he could last for two years, but he burned most of it in just one year. The businesses of Meituan, Yuetuan, and Dianping were entangled to death. If one company subsidizes, the others must follow suit.

If you don't make up for it, the price will no longer be discounted, and the monthly activity will drop. Over time, users may delete your APP and completely embrace other companies.

From the beginning of the year to the end of the year, the fights started to come and go, but gradually Meituan and Dianping were unable to keep up.Yuetuan is like crazy, throwing money into it. Even during the Ghost Festival, they can cooperate with Didi to come up with such crazy activities as "charting a car to the temple to pray for blessings and offering sacrifices at half price".

How else can you play?
So looking at the prime time periods of Christmas, New Year's Day and Spring Festival, Meituan has no money to subsidize. Can Wang Xing not be anxious?But there's no point in being anxious, the situation is different.

Historically, only Meituan and Dianping competed for hegemony, with a 50% chance of winning. Sequoia also brokered a merger, and investors were willing to invest in another round.

Now there is Yuetuan, which ranks first in market share, first in financial resources, and has the highest winning rate.

The old investors wanted him to buy back the shares, but the new investors were not confident either, so they reached a deadlock.Wang Xing has been looking for money for the past two months, hitting a wall everywhere and having a string of bubbles on his lips.

What's worse is that Shen Nanpeng, who he has high hopes for, also brings bad news.

"I have inquired correctly. Yuetuan has reached an agreement with Hillhouse and Tiger Management and received the fourth round of financing, which is about US$7 million!"

"I've contacted you around, but no one is optimistic about you now and I'm not willing to invest money."

Shen Nanpeng sighed and pretended, but he had already made a deal with Lei Jun PY.

"$7 billion?"

Wang Xing shook his head and smiled bitterly. Yuetuan already had the upper hand, but now that he had taken the money, he couldn't do it even more.He remembered Shen Nanpeng’s previous suggestion to merge with Dianping, and asked if this was still possible.

Shen Nanpeng initially wanted to merge Meituan and Dianping, but Lei Jun stepped in and wanted Meituan.Shen Nanpeng decisively defected to Lei Jun, but he made a random analysis:
“If you merge with Dianping, your market share will indeed exceed that of Yuetuan, but then there will be a war between 99 and Tencent. Tencent will not have the upper hand, and you have offended Alibaba. Alibaba will not help you. It is hard to say who will win and who will lose.

Think of a solution again and don’t consider this until the last step. "

Shen Nanpeng hesitated, left Wang Xing's office, and immediately called Lei Jun: "Mr. Lei, Meituan is at the end of its rope, I think it's OK!"

"okay, I get it!"

…………

Lei Jun deliberately delayed it for a few more days and passed the New Year unknowingly.

During this golden period, Yuetuan defeated Meituan, and Yao Yuan was also building momentum online, trumpeting that Meituan's capital chain was broken and Wang Xing was about to run away.

All this made Wang Xing even more vulnerable.

Sometimes in a business war, you just mean to hit someone, manipulate the other person's mentality, force him into a difficult situation, and then make the next move.

At this moment, Lei Jun finally came out and made an appointment with Wang Xing.The two made an appointment in a luxury suite of a hotel. Once the door was closed, there were no other participants and they met face to face.

A 46-year-old man who became famous in the 90s and returned to the world of martial arts.

A 36-year-old man, after many ups and downs in entrepreneurship, finally found a career, but he was faced with a major decision.

Wang Xing is an ambitious person and does not want to sell Meituan and run away. He knows that Lei Jun wants to negotiate a merger, and he is not opposed to it. He will listen to the conditions.

And Lei Jun sat down, made a pot of tea like Yao Yuan, put his watch on the table, and said with a smile: "It's 6 o'clock now, let's set a limit. If no agreement is reached before 12 o'clock, the negotiation will be invalid." ?”

"That's good!"

"Then let's set the midnight snack first and tell them to be there at ten o'clock so as not to waste time."

"..."

Wang Xing raised his eyebrows, this senior was quite interesting.So everyone ordered a midnight snack and started negotiating.

What specifically?
One is the valuation of both parties and the share exchange ratio; the other is the management structure after the merger.Yuetuan's valuation is high, and theoretically the share exchange ratio must be higher, but Wang Xing will definitely not do it and insist on a 5:5 ratio.Lei Jun was not in a hurry and kept talking to him in a unique slow manner.

Some people may ask, since Meituan has no money, won’t it be over when it goes bankrupt?
That's not the case. If Wang Xing really reaches the end of his rope, he will run to merge with Dianping. That's why Lei Jun wants to intercept Hu.

On this ordinary winter night, in this hotel suite, a secret conversation was taking place that would affect the future of the Internet.

Unconsciously, a few hours passed and I drank pot after pot of tea, feeling restless and restless.

Fortunately, the supper is here.

One of them called for noodles and the other called for noodles. After finishing the meal, Lei Jun felt a little better. Lei Jun wiped his sweat. The room was dry and hot, and the cuffs of his shirt were rolled up.

"An hour and a half left!"

"It's rare for us to sit together. I don't want to argue over and over again. Okay, I'll give in and exchange shares 5:5 as you said!"

"I'm sorry. Mr. Lei is so righteous. I also think about the company. I hope you can understand."

Wang Xing also wiped his sweat, feeling happy in his heart.

A 5:5 share exchange means that the relationship between the two parties is equal, and there is no one who is higher and who is lower.Then it was easy to talk about it. Using the remaining hour and a half, the two of them quickly reached a preliminary agreement.

1. Meituan and Yuetuan merged of equals. The two companies exchanged shares at a ratio of 5:5. It was up to each investor to convince them. After the merger, they will occupy equal seats on the board of directors of the new company.

2. Lei Jun and Wang Xing have equal say and serve as co-CEO and co-chairman.The two are responsible for relevant business independently, and major decisions are completed at the board of directors level.

3. Both parties will keep their original businesses unchanged and operate independently. The business team will keep its current structure and responsibilities unchanged. The capital-level merger will be completed in advance, and the business will be gradually integrated.

simply say:

One brand, two teams, seemingly independent of each other, but there is no need to fight to the death, because the shares of both parties are integrated and they make money together.

"call……"

Wang Xing let out a sigh of relief. He felt that the co-CEO model was not appropriate. One mountain cannot tolerate two tigers!I have some small ideas, but this is a calculation for the future. The most important thing at the moment is to keep Meituan alive.

"Finally, I didn't let down today's meeting!"

Lei Jun was still smiling, and Yun Danfeng said lightly: "This is a good start, we will be a family from now on."

"Yes, we are a family. I still have to learn more from you."

The two shook hands enthusiastically, each with their own motives, and after seven hours of fierce fighting, they walked out of the hotel in the early morning.

……

Lei Jun called Yao Yuan in the car.

Yao Yuan was still awake but looked very tired, as if he had experienced a fierce battle.

"It's over!"

"What result?"

"As we expected, it will be a 5:5 share exchange, with equal say, and major decisions will be voted on by the board of directors."

"Actually, Wang Xing is very capable. Yuetuan wants to expand its business, and you need help." Yao Yuandao.

"Some people are suitable to be the boss, and some people are suitable to be the second child. Wang Xing is not someone who has been subordinate to others for a long time. Do you think that when he stabilizes, he won't mess with me? Of course I have to strike first!"

Lei Jun stopped smiling and lost his usual friendly demeanor, finally showing a hint of blood.

(no more...)
(End of this chapter)