Shenhao started as a military training anchor

The online car-hailing trend is undoubtedly the most expensive trend in China’s Internet history.

In the later stages of BAT's competition for hegemony, after Baidu failed in the group buying and takeaway markets, Robin Li was already powerless.

Although Robin Li is also supporting his younger brother to seize the opportunity of online ride-hailing, his efforts are obviously not as strong as before.

At this time, he already had the idea of ​​withdrawing from the BAT battle, no longer participating in the so-called 020 competition, and putting his last efforts into the OTA (online travel) market.

Accepted the proposal of Liang Jianzhang, the founder of Ctrip, and promoted the merger of Qunar and Ctrip. Ctrip became the dominant player in the OTA market and Baidu became the major shareholder of Ctrip.

This is also the only benefit that Robin Li has learned from Ma Yun and Ma Huateng.

When the money-burning war for online ride-hailing started, Robin Li was no longer the opponent of the two horses, and this trend became a competition between the two horses.

That was the competition between Kuaidi and Didi back then.

In the early days of the competition, Kuaidi Taxi, supported by Alibaba, has always been the market leader.

But with the entry of Tencent, Ma Huateng had no lower limit to support Didi, and the situation began to reverse.

After Didi founder Cheng Wei burned more than one billion, he was about to be unable to survive. Ma Huateng called and promised that Tencent and Didi would each bear half of the subsidy costs.

A new round of money-burning war has begun again.

Didi took advantage of the situation and pursued him.

Quickly increase subsidies to maintain market share.

Didi followed closely and seized the market.

Tens of millions were burned every day, setting a record of a single-day loss of more than 40 million.

After less than two months, Didi and Kuaidi couldn't bear it any longer, and were stopped by relevant departments.

Cheng Wei, the founder of Didi, and Lu Chuanwei, the founder of Kuaishou, formed a bureau and invited Bao Fan of Huaxing Capital, an angel investor of the two companies, to act as an intermediary and start negotiating peace.

With the help of the angel investor China Renaissance, Alibaba, Tencent, General Atlantic Ventures, Sequoia China, Hillhouse Capital, and other investors sat down to negotiate and finally reached a merger agreement.

Didi and Kuaidi merged.

Maintain independent brand operations.

Cheng Wei and Lu Chuanwei serve as co-CEOs of the two companies.

The competition in the market is temporarily higher than Duanluo, but the internal fighting within the company has just begun.

Cheng Wei teamed up with Legend Capital to take Kuaidi's team out of the game, and Tencent once again took over. Alibaba lost control of Didi, and Didi Taxi also changed its name to Didi Chuxing, completely shifting to Tencent.

Meituan’s Wang Xing before him and Didi’s Cheng Wei behind him successively rebelled and joined hands with Ma Huateng. They also saw clearly Alibaba’s methods.

The so-called little brothers are all tools for blood transfusion for Alibaba e-commerce.

Jack Ma only has the e-commerce market in his eyes.

Traffic from group buying and online ride-hailing markets will become tools for Taobao to monetize.

It was precisely because Wang Xing and Cheng Wei saw the terrifying blood-sucking nature of Alibaba that they finally chose to turn to Tencent.

Facts have proved that the choice of the two was correct, otherwise there would not be two giants in the food delivery and online ride-hailing markets in the future.

Didi's ability to kick Kuaidi's team out of the game is inseparable from the loyal Liu family.

Liu Chuanzhi first used Legend Capital to mediate, and then sent his daughter Liu Qing to the position of Didi's senior executive, gradually weakening the influence of Kuaidi's team.

On the surface, Cheng Wei is the leader of Didi, but in fact the Liu family has more say in Didi.

After merging with Kuaidi, Didi Chuxing has become the dominant player in the domestic online ride-hailing market, and it is a monopoly.

I originally thought that this trend would be quiet for a while. In 2015, Uber, the world's largest online ride-hailing giant, entered the Chinese market.

Didi has started a battle to defend the domestic market again.

Financing has been launched again to compete with Uber, and more than a dozen capitals have continued to inject blood into Didi.

The two companies have recorded a single-day loss of US$2000 million and a loss of US$25 billion in a year in the Chinese market.

So far, no outlet has burned so much money.

In 2016, Uber began to realize that it could not swallow China's online ride-hailing market. It fought with Didi for a year and spent so much money to enter, but its market share did not grow much. Uber's global president began to actively contact Didi. High-rise.

Finally, Didi completed the merger and acquisition of Uber China in the form of mutual shareholding. With Chikaidi and its acquisition of Uber, Didi’s market share in China’s online ride-hailing market has exceeded 90%.

Can't find an opponent.

Investors are seeing that Didi is about to turn a profit.

The next two things took Didi off the altar again.

One is that Cheng Wei covets the food delivery market and is competing with Meituan in Wuxi.

At the height of the fierce competition between Didi Waimai and Meituan Waimai, Wang Xing from Meituan came up with a trick to steal the food.

Launched the “Meituan Taxi” service.

Didi was constrained in the food delivery market, while Meituan’s taxi-hailing business was in full bloom.

It took away a large part of the market share from Didi.

In order to protect his family, Cheng Wei had to give up Didi Takeaway and return to his old business to maintain Didi's dominance in the online ride-hailing market.

But then the relevant department issued an 80 billion fine, which made Didi dispirited.

Didi was severely punished for selling user information overseas.

In addition to huge fines, there is also the penalty of not being able to register new users.

At this time, the online ride-hailing trend was once again targeted by capital, and a large number of ride-hailing apps emerged to carve up the Didi market.

This is the end of Didi’s myth.

However, it has begun to slow down in recent years. Didi has begun to provide upstream vehicles and technical services on its own to improve its brand competitiveness and expand other ecological businesses. Didi Chuxing has regained its leading position as an aggregated online ride-hailing platform.

There is also close to 50% market share.

The first integrated online ride-hailing platform was Baidu. When Robin Li saw that he could not compete with Alibaba and Tencent, he used Baidu Maps in 2015 to aggregate various taxi-hailing and car-rental software to earn service fees.

At that time, Baidu Maps was the dominant player in the field of electronic maps, so many platforms were willing to cooperate with Baidu Maps.

Then Amap connected to Alibaba Life in 2018 and began to adopt an aggregation model, and then came Tencent Maps.

Looking at the development of the entire online ride-hailing market, from BAT's competition for hegemony, to Didi's dominance, to the entry of traditional car companies, and finally to the entry of Huawei, this market has been squeezed and has not reached saturation.

The so-called saturation refers to the affordability range of a city. Rather than saturating the entire market.

According to Internet big data analysis, the scale of the online ride-hailing market is expected to exceed the 5000 billion mark in the next three years.

Of course Holly is greedy and wants to share this big cake.

Also looking for great products.

The Yisu Travel product brought by Zhang Li is innovative, but its market positioning lacks competitiveness. At the same time, the ownership structure design is too poor to attract capital investment.

Holly could tell from his face that Yisu Travel was now at a critical moment of life and death and needed this money to save his life.

No entrepreneur can afford to watch their product die.

It was a very uncomfortable feeling.

Holly turned back to look at him and said bluntly, "With your current ability, it is almost impossible to perform a major operation on Yi Su.

With a valuation of 100 million, how much can you raise and how many shares can you release?

This financing is only for delaying death and will not help you survive.

My advice to you is to optimize the shareholding structure and then sell the company. "

Zhang Li looked at Holly blankly.

Holly continued: "I will give you an investment to buy back the partners' shares, and then sell me your Easy Travel.

You can retain a certain amount of shares and participate in Yisu's operations as a shareholding partner.

You can think about it carefully, and I hope I can get your accurate answer after I return from attending the Wuzhen Internet Conference.

If Yisu hadn't shown me something new, you would have had to accept the cruel fact that entrepreneurship failed. "

(End of this chapter)