Winning the new financial era

Chapter 375 Korean Joint Venture Bicycle
Musical.ly regards South Korea as the first stop to enter the Asian market, and the whole company attaches great importance to this.

After being recommended by Li Xiuman, Zhang Yida quickly dispatched staff from the Korean branch and began to contact the production department of SBS TV station.

The variety show "Running Man" is very popular in South Korea, and there is no shortage of sponsors.

In particular, Musical.ly is still a foreign company. If you approach it rashly without a referral, it is very likely that you will be brutally slaughtered by the SBS lion.

Li Xiuman's status in the Korean entertainment industry is still very high. With his help, things will be much easier, and soon reached a sponsorship cooperation with SBS.

The content of the cooperation is also very simple. It is to integrate Musical.ly into the game, let the runners shoot short videos, upload them to SNS social software such as Twitter, and let the audience decide the winner.

Zhang Yida believes that with running men taking the lead in playing Musical.ly, and stars under SM's group entering in batches, Musical.ly should soon become popular in South Korea.

After all, it is an app that idols are playing, so how can fans not follow suit?
Most of the employees in the Korean branch are Koreans, and there are only a small number of Chinese employees sent from China.

This is also the localized operation that Zhang Yida has always emphasized in the global expansion of Musical.ly.

Because only the natives know their own country best, understand the various customs and habits and popular culture of the local market.

Musical.ly has been making great strides in the Americas and Europe. In addition to product innovation and personalized algorithm recommendations, the biggest success factor comes from localized operations.

Then, Zhang Yida went to several companies such as Blue Hole, Toss, Elegant Brothers, Long Live the Republic of China, etc. to inspect.

Blue Hole is still as stable as ever. A few months after its launch, the sales ranking on the Steam platform has been rising steadily, overwhelming other games, and successfully reached the top of the list.

And it is also sitting firmly at the top of the list, having ranked first in sales for several weeks in a row.

It is not as crudely made as in the previous life, and the problem of cheating is much better.

Therefore, the main energy of the blue hole team is not on various sewing and mending, but planning various events, game props, and peripherals.

Zhang Yida was very satisfied and ordered a bonus to be distributed to all employees.

The elegant brothers are the "Korean Magnesium Group" invested by Zhang Yida, and Minguo Wansui is a P2P company.

These two companies are also developing well, and are advancing according to their respective business plans and goals.

Toss is a mobile payment platform jointly established by Ruixiang and the two Korean companies.

The original shareholders were only Ruixiang and Minguo Longsui. Later, in order to promote, Zhang Yida brought in elegant brothers.

After the elegant brothers held 20% of the shares of Toss payment company, Toss payment became the only mobile payment method of the food delivery company, which helped Toss develop many users.

Today, the number of Toss payment users has exceeded 1000 million, connected to 29 banks in South Korea, covering 98% of bank users in South Korea, and has become the largest mobile payment platform in South Korea.

At the same time, the business has gradually enriched.

In addition to transfers, it also provides users with a variety of services such as loans, insurance, credit score management, and cross-border payments.

Users can aggregate all bank account details on the app to gain a complete view of their financial status.

You can also check and manage your credit score, buy various savings products or make small investments, etc.

In terms of technology, it is mainly Ruixiang Group that provides support and outputs various research and development results.

In terms of promotion, it is the two Korean companies that are making efforts.

Zhang Yida talked with the CEOs of two Korean companies, Jin Fengjin and Li Shijia, about cross-border payments.

The payment business scope of Ruixiang, its subsidiaries and partners has basically covered China, Japan, South Korea, Southeast Asia, India and other regions.

The idea proposed by Zhang Yida is to let these companies cooperate with each other to provide convenient cross-border payment services for users in the above places and other places.

This is a win-win plan, and of course the two of them will not object.

After talking about Toss, Jin Fengjin, CEO of Elegant Brothers, talked about shared bicycles.

"Mr. Zhang, isn't bike sharing unprofitable?"

Zhang Yida glanced at him, "Why do you ask that?"

Jin Fengjin frowned and said, "Several bike-sharing start-ups from Singapore have entered Korea and have been fighting a price war with us.

In addition, government control is relatively strict.It is required to divide the parking space of bicycles and not occupy the public area.

Also, after all, the Korean market is too small.In a big city like Seoul, it’s okay to launch. In other small cities, the frequency of riding is very low, and the management and scheduling are also very troublesome. "

Zhang Yida smiled and said nothing, if there is something wrong, will I not invest money?
Not to mention the lack of bicycle culture in European and American countries, but the market in Japan and South Korea is too small, and countries such as Southeast Asia, India, and South America are a little poorer.

In the previous life, Xiaohuangche and Baimobike both entered the overseas market, but they failed to gain a foothold in any market.

In this life, Zhang Yida didn't let the shared bicycle go out to sea.

The only exception is that Singapore sent 10000 shared bicycles to sea.That's because Zhang Yida needed to use internationalization to tell stories and raise financing.

BTP.bike has now been handed over to Chen Bingyao to take over, and Huimin Travel does not plan to make any further investment.

“To date, our two companies have invested $2400 million in WV.bike and purchased 20 shared bicycles.

At present, there are not many funds in the account.Funding needs to be done again. "

Li Shijia, the CEO of Minguo Wansui, looked at Zhang Yida, "Huimin Travel Group also holds 20% of WV.bike. Does Mr. Zhang have any plans for further investment?"

"As President Kim just said, shared bicycles all over the world are facing difficulties in making profits.

Huimin Travel Group also has problems in this area that need to be resolved.For WV.bike, we also have more than enough energy. "

Huimin Travel previously invested in WV.bike with a full set of technical solutions for shared bicycles at a price of US$600 million.

invest?It is impossible to invest in this life!
Zhang Yida's words made the faces of the two of them darken, and now their two companies are in trouble.

The bike-sharing business was stopped, and all the US$2400 million invested in the early stage was in vain;

If you don’t stop the bike-sharing business and continue to invest more, then you don’t know when you will be able to make a profit.

"I have a suggestion."

Zhang Yida decided to point out these two people. After all, Ruixiang is also a shareholder of these two companies, and he will suffer indirect damage if he loses money.

Jin Fengjin and Li Shijia straightened their backs, pretending to listen carefully.

"First of all, 20 shared bicycles are already a lot, covering Seoul more than enough, so don't continue to put them in."

This is also the strategy of Huimin Mobility in China, which has maintained a total of 1000 million shared bicycles and will not increase indiscriminately.

Jin Fengjin and Li Shijia were a little confused, and Jin asked: "If you don't make new launches, wouldn't you be ceding the market to your competitors?"

"That's right," Li Shijia said, "This is a market we have worked so hard to grab."

"Let them grab it. The more joyful the dance is now, the worse the death will be in the future."

Singapore has a small land area, but its financing environment and entrepreneurial environment are relatively good.

Therefore, after Huimin Travel gave up entering the overseas market, Singapore's shared bicycles took the initiative to assume this role.

In Malaysia, South Korea, Hong Kong and Taiwan, there are Singaporean bike-sharing start-ups.

For a while, the limelight of Huimin's travel was suppressed by Singapore's shared bicycles.

Some media criticized Huimin Travel for raising 30 billion U.S. dollars, but not making progress, and handing over overseas markets to others.

Among them, most of them are domestic media, and they are very angry about the "shrinking" of Huimin's travel.

The two don't understand, isn't it a good thing to expand the market?How could he die miserably.

"Mr. Zhang, what you mean is that the greater the market expansion, the greater the loss.

When the profitability problem cannot be solved and the financing cannot be continued, will the shared bicycle enterprises collapse? "

Li Shijia engaged in P2P, and was very keen on capital flow, so he quickly figured out Zhang Yida's words.

"Yes, so if Huimin Travel does not solve the problem of domestic profitability, it will never really go to overseas markets."

Zhang Yida said again: "My advice to you is to wait for the opportunity quietly and ensure your survival first.

The wave of shared bicycles comes and goes quickly.

I predict that this year or next year, there will be a reshuffle.

The first goal of WV.bike is to survive, and the second goal is to improve operational efficiency.

For example, bicycles are placed near scenic spots or in the CBD to increase cycling frequency and income as much as possible.

The third is to let WV.bike guide traffic for your two companies. "

Zhang Yida also taught the two of them the ecological anti-Dafa method, including deposit wealth management, joint membership and other ways of playing.

The two called it an eye-opener. Although they have heard related concepts, they don't know much about the specifics.

Zhang Yida explained to them all the cases of Huimin traveling.After hearing this, the two were very excited and said they would send WV.bike's operators to study in China.

"If it doesn't work, let WV.bike raise a round! Let's see if any Korean chaebol is willing to take a stake.

It would be best if there is someone who is willing to take a stake, and it just solves the required operating funds for the next step.You two companies can also put more funds on the main business.

If not, you two tighten your belts and get by! "

"Okay, Mr. Zhang's suggestion, we will definitely consider it seriously."

Jin Fengjin asked again: "Mr. Zhang, what do you think of us learning from Huimin Travel and launching the taxi-hailing function?"

Zhang Yida felt dizzy for a while, this guy was thinking too much.

South Korea's online car-hailing industry is also in chaos. Foreign-funded Uber and several local Internet companies have also launched their own taxi-hailing applications.

"Forget it, it's a bit late. We can't threaten Didi in China, we can only grab a little corner of the market."

Zhang Yida is not very optimistic about WV.bike entering the online car-hailing market.The battle ended almost last year.

It’s just entering the market now, and you can’t play without burning money.

This is too idle to make a fuss!Elegant Brothers and Minguo Longsui have no decent competitors in Korea, and they are leaders in their respective segments.

The Korean market is not big, so if you want to make more money, you can only expand into other fields.

　Thanks for the reward from 1981!
　　
　
(End of this chapter)