Perfection of Rebirth

Chapter 243 The Expansion of Meituan.com
Softbank China.

"Is the news about IDG Capital's stake in Meituan.com accurate?".

"Basically accurate, but some details have yet to be confirmed."

"It seems that IDG Capital was stimulated by the failure of the last investment in Xiaonei.com, and reached a financing agreement with Meituan so quickly."

"The appearance of Meituan.com is indeed an innovation. At present, some small websites have started to follow suit, but most of the funds are still waiting to be seen. I think the risk of entering Meituan.com during its B round of financing will be less."

"Well, but several companies under Jiang Hui's development momentum are very strong. You can contact Tudou and other companies to see if they accept financing. If the valuation is suitable, I think we can sell as soon as possible."

"Okay, our investment department has specially arranged personnel to track and analyze Jiang Hui's business."

……

Sequoia Capital China Branch.

"Meituan raised 6000 million yuan today, have you received the news?".

"It has been received, IDG Capital has given a valuation of 6000 million yuan, and invested 20.00 million yuan to obtain [-]% of the shares, but it is said that only [-]% have voting rights."

"It's not surprising, since Jiang Hui accepted Meituan's financing so quickly, in order to avoid losing control of the company after the subsequent rounds of financing, he must ask the investment institution to give him the voting rights of a part of the equity, which is also an international practice. It’s just that I didn’t expect him to be so familiar with Dao Dao at such a young age.”

"It is not easy for someone who can create a dozen companies with a valuation of over 30 million and a total valuation of more than [-] billion in more than half a year."

"Yeah, later on, you asked us to maintain a good relationship with Jiang Hui on the Xiaonei website. If it doesn't involve principled issues, we should try our best to cooperate with Jiang Hui's wishes. I have a hunch that the Xiaonei website is just the beginning, and there will be more in the future." There is a rich meal waiting for us, so don’t be kicked out of the car because of some small conflicts.”

"Understood, I will emphasize with them."

"Glory Games, are they still refusing to accept financing?".

"Yes, they didn't listen to our conditions at all, and refused directly."

"It seems that the profitability of Brilliant Games is very high, otherwise Jiang Hui's attitude would not be so firm."

"We analyzed again, and the monthly profit of Brilliant Games should be no less than [-] million, or even more."

"Well, no matter what, I am very optimistic about the companies under Jiang Hui. You can continue to talk with them about the financing of other companies."

"Okay, actually we have been in contact, but it seems that except for Meituan and Xiaonei, other companies are currently not very willing to raise funds."

"Not being willing now does not mean that there will be no future. There is no harm in keeping in touch. As long as they start thinking about financing, we must be the first to enter."

"Understood, I will arrange someone to follow up."

……

Du Niang News: The latest news on this site, Meituan completed the first round of financing of 6000 million at a valuation of [-] million, and the financing object is IDG Capital.Meituan.com is the world's leading group buying website. It was the first to propose the concept of group buying. It is currently the largest group buying website in China and even in the world...

……

The official website of Imperial University of Technology: There is another good news about the self-employment of our students. The Meituan website founded and controlled by our students has received 6000 million yuan in venture capital from IDG.Meituan.com is located on the [-]th floor of the Science and Technology Building. With the care of leaders at all levels of the school and the efforts of Meituan.com staff led by Jiang Hui, the valuation of the website has reached [-] million in less than half a year since its establishment.The group buying model pioneered by Meituan set off a new model of Internet innovation.Jiang Hui has the courage to innovate, and the spirit of pioneering and enterprising is worthy of our classmates...

……

A small group buying website that followed suit.

"Meituan.com is valued at [-] million yuan. Let's quickly improve the promotion plan and contact various venture capitalists to see if we can raise funds."

"Now everyone seems to be waiting and watching, and the few venture capitalists we contacted before ignored us."

"That was in the past. Now that the valuation of Meituan is placed there, we only need to have one-tenth of the valuation of Meituan. We will first raise a few million and come back and use it."

"Well, this is more promising. Anyway, our current investment is still relatively small, and we can count as much money as we can get back."

"Yeah, it's best to be bigger and stronger, and it's not bad to get a sum of money back if you can't."

"Well, I'll go back and change the materials right away. Financing is nothing more than storytelling, which I'm best at."

……

After confirming the financing agreement, Meituan quickly established offices in Shanghai, Yangcheng, Jiangcheng, Chang'an and Shudu, and began to expand its business.The radiating areas of these offices basically included places where the Chinese economy was relatively strong. Suddenly, the influence of Meituan.com increased dramatically.

……

Kobayashi is an employee of the Yangcheng Office of Meituan.com.At nine o'clock in the morning, Xiao Lin didn't go to the company, but went directly to the food street in the XC district.According to the appointment time, I came to a tea restaurant to discuss the matter of entering Meituan.com.In the past, due to the high price of this tea restaurant, although the food is delicious, it has been a bit tepid. The boss plans to cooperate with Meituan.com for a period of time, and give up part of the profits to increase its popularity.Meituan.com has set up several sets of standard procedures for its salespersons. Basically, each store can choose one of the procedures to operate.So Xiaolin quickly negotiated with the boss about moving in.

At 09:30, Xiao Lin went to the nearby Chaoshan restaurant again, and it also took half an hour to complete the settlement negotiation of this restaurant.

At ten o'clock, Xiao Lin went to a nearby Hunan restaurant.

At 10:30, Xiao Lin went to a nearby Northeast family.

At eleven o'clock, Kobayashi went to a nearby Japanese restaurant.

……

Basically every half an hour, Xiao Lin would negotiate with a merchant. After a simple lunch at noon, he continued the negotiation. It was not until after [-] o'clock in the evening that Xiao Lin returned home and shared the relevant information and contact information of today's negotiating merchants. Methods and other materials are sorted out and sent to the technical department, who will arrange the online related work of the merchant.

At an average rate of [-] per day, Xiao Lin quickly promoted a large number of merchants in the area he was in charge of to Meituan.com.

Kobayashi is just an ordinary member of Meituan.com's large number of ground promotion personnel. Meituan.com also has a large number of formal, part-time and intern ground promotion personnel in action.

Merchants on Meituan.com are rapidly increasing at a rate of nearly a thousand per day.

At the same time, the company also began to place advertisements on Xiaonei.com, Penguin.com and other websites. Suddenly, the number of registered users of Meituan.com increased rapidly, and the number of users of Guanghui Payment also increased at the same time.

There has been an upsurge of group buying in major cities of China.

(End of this chapter)