Winning the new financial era

Chapter 384 A Big Game

"Mr. Zhang, Xiaomeng has been revised, and the alumni website and short videos have been put on the first-level page.

Instant messaging, as you might guess, dies down after the heat has passed. "

Xun Mi sighed, "The penguin's foundation is still unbreakable!"

So we can only put instant messaging into the secondary page, and it is no longer the main function..."

Zhang Yida nodded, "That's the only way to go, let's try to make the alumni website and short videos well."

Xun Mi said with a smile: "The other good news is that the registered users of Xiaomeng have exceeded 2500 million, among which the users of college students surpassed those of graduated college students for the first time, reaching 1300 million.

This number has basically covered half of the college students. "

"Ah, covering half of the college students so quickly?"

Seeing that Zhang Yida was a little surprised, Xun Mi explained: "This is thanks to Yuanmiao Fenqi, Le Fenqi, and Gaomeng's local push partners, they are very helpful.

In addition, current events on campus and making friends on campus are still very attractive to college students.Once word of mouth is formed, it grows very quickly. "

"Looking at it this way, the growth of the "campus version" school cuteness will slow down next. We have to organize some activities to stimulate it."

Zhang Yida suddenly remembered the U25 elite list agreed with Hurun, and specifically asked how the preparations for this matter were going.

"It can only be postponed, the university is already on winter vacation."

Xun Mi smiled wryly. He was as busy as a spinning top these days, and he really didn't take care of the selection activities that Zhang Yida mentioned.

Zhang Yida hadn't been to school for a long time, and he didn't even feel that the winter vacation was over.

However, he also knew that it was too late in time, so he said: "Okay, let's postpone it first, and continue the preparation after the new year."

"By the way, how is the cuteness of the "workplace version"? I don't think the growth can compare with the "campus version"?"

Xun Mi nodded, "Yes, our operation team has also noticed this problem.

We analyze that there should be the following reasons.

First, college students who have graduated have entered the workplace, and their time and energy are limited;

Second, the software is not utilitarian enough, and the functions and content are not attractive enough;

Third, the publicity and promotion is not enough, and many users do not know that there is such a software.

In response to these problems, we have been developing workplace social networking and news aggregation information flow functions according to your instructions, and the development is expected to be completed in the next few days.

But these two functions developed can only solve the second problem.

For users, the workplace social section can help them broaden their contacts.

In the news aggregation section, we have reached cooperation with nearly a hundred high-quality new media such as 36 Krypton.

They will provide high-quality news content including venture capital, finance, technology, fashion, sports and many other fields. "

"You have to pay attention to this, you must screen well, and you can't let those fake media get in.

Especially those headline parties, entertainment gossip, and random fabrications, we firmly resist.

Our news can be less, but it must be the essence and have something to say. "

Xiaomeng's workplace version is aimed at the working people, and Zhang Yida is afraid that unprofessional media will get in and lower the style of Xiaomeng.

Toutiao has its own rules of survival, but Xiaomeng is different, learning from him will undoubtedly lead to death.

Xun Mi said with a smile: "Toutiao is also caused by commercialization, any commercialization of products will definitely lead to a decline in user experience.

Mr. Zhang, don't worry!I understand what you mean, it is to use high-quality content to attract users. "

"By the way, Mr. Zhang, about the recruitment section and the enterprise account, when will we open it?"

"There is no rush to realize things."

Zhang Yida waved his hands and said with a smile, "It's too early to talk about this, the most urgent thing is to circle our 1 million target users, as many circles as possible.

It’s not over after the circle has come in, but high-quality content must be used to keep users active. "

"Well, it really needs to be raised again."

Xun Mi smiled again and said, "Mr. Zhang, do we need to add more to the investment budget? At present, Xiaomeng has laid the foundation, and it is a good time to take advantage of the victory."

"It can be added, but I prefer Xiaomeng to rely on word of mouth to attract new users.

The example of station B is very vivid, and the users who come spontaneously are the most sticky and active. "

Xun Mi nodded, "We will definitely work hard in this direction!"

"I heard that the short videos on Xiaomoe are quite popular among college boys?"

Xun Mi smiled "hehe", as if you understand!
The short videos on Xiaomeng are different from Doushi. It has an advantage, that is, you can choose to only watch the short videos of the school, and then you can also see the real-name information released by some girls.

……

"Didi, Jinshahe Venture Capital, and Jingwei Global are going to sell their shares in Huimin Travel?"

Huang Xiaofeng suddenly notified Zhang Yida of the news, and the latter was also taken aback.

Didi wanted to quit, but Zhang Yida could still figure it out.Why are Jinsha River and Jingwei Global?

According to the agreement, Zhang Yida, as the founder, has the priority to repurchase shares, but he gave up exercising the right.

Just kidding, I almost can't tell the truth, how can I have the money to take their shares.

However, the three shareholders already had countermeasures. Zhang Yida did not have the option, and they chose to sell the shares to Softbank.

Jinshahe Venture Capital and Jingwei Global each hold 4.38% of the shares of Huimin Travel, and Didi holds 1.82% of the shares of Huimin Travel.

The shares of the three companies add up to 10.58%, all of which were taken by Softbank.

After losing the B+ round of betting, Softbank transferred 1.315% of its shares to the management of Huimin Travel for free, and its shareholding ratio dropped to 4.16%.

After eating the shares transferred by the three shareholders, the shareholding ratio will reach 14.74%.

It surpasses Blackshirt Capital, which holds 8.76% of the shares, and Penguin, which holds 10.4% of the shares, and is second only to Zhang Yida, who holds 30.57% of the shares, and ranks the second largest shareholder of the company.

In addition, there are two other companies with relatively high shareholding ratios, Ruixiang Industrial Investment Fund and CITIC Industrial Investment Fund each hold 5% of the shares.

After completing the equity transfer procedures and completing the equity change, Softbank requested a reconvening of the board of directors.

They put forward several requirements. In addition to requesting an increase in the number of board seats, the most important one is to require Huimin Travel to achieve profitability as soon as possible.

Huimin Travel completed a US$4 billion Series C round of financing in April last year. After completing the purchase of 10 million bicycles and the purchase of trucks in various dispatching operation centers, this part of the funds directly spent nearly US$300 million.

After the aggregation taxi and ride-hailing business was launched, nearly 1 million US dollars was subsidized.

The bike-sharing business has a cash loss of RMB 7000 million per quarter, excluding the depreciation of bikes and trucks.

In addition, Huimin Travel is also burdened with a US$10 billion equity pledge loan, and needs to repay US$1500 in interest every quarter.

However, this part of the interest is offset by the investment income, and there is even a surplus.

After receiving US$10 billion in investment funds, Huimin Travel invested US$7 million of it in Yimin Wangjin Company.

Based on the financial model and financial planning of Huimin travel, Yimin Wangjin made an exclusive financial plan for them.

This financial plan can be regarded as a P2P product.

On the wealth management side is Huimin Travel, with a loan amount of US$7 million;
On the loan side, there are more than 50 borrowers, and the average loan is less than 1, which is small enough to disperse.

There are long-term, medium-term and short-term loans, taking into account profitability and liquidity.

In other words, if Huimin needs funds for travel, they can come to Yimin Wangjin to withdraw part of the funds.

If not, the money will be lent outside to generate income.

The interest rate offered by Yimin Wangjin is not low, with an annual interest rate of 10%, and at the same time, it provides a guarantee for the loan of 7 million US dollars.

The shareholders of Huimin Travel naturally have no opinion. Yimin Wangjin is not a leather bag company. A company with a market value of tens of billions of dollars can't be said to collapse.

Moreover, Huimin Travel has also dispatched a monitoring team to Yimin Wangjin to supervise and randomly check the flow of funds and loan asset packages at any time.

Therefore, the borrowing income of 7 million US dollars not only perfectly covers the interest of the 10 billion loan, but even has a little surplus.

But with the passage of time, this year, Huimin Travel's deposit in Yimin Wangjin is only 6 million U.S. dollars, and the annual income of 6000 million is just the same as the loan interest.

If Huimin travel continues to spend like this, it is estimated that the income will not be able to cover the interest.

A US$10 billion equity-backed loan with a loan term of three years and a maturity date of July 2018.

One and a half years have passed, and Huimin Travel is still close to positive cash flow, let alone the balance of revenue including bicycle depreciation.

As for the overall profit, I don't know that it is the year of the monkey.

However, with the gradual opening up of the market for taxi-hailing and ride-hailing, there will be a net profit of 3 million yuan a year, which will also allow Huimin to generate positive cash flow for travel.

Softbank is not very pessimistic about Huimin travel.

Because they are playing a big game of chess.

……

Didi invested USD 15 million in Huimin Travel in March 3. In two years, the exit return was USD 5000 million!
The annual return on investment is 4.6%!

Looking at the contract and report brought back by the assistant, Chen Wei was furious.

Marle Gobi, Lao Tzu's large deposit certificates in the bank have caught up with this rate of return.

And this profit has to be taxed, and there are no more after paying the tax.

Chen Wei actually wanted Zhang Yida to reclaim the 60% of his shares at a valuation of US$1.82 billion.

But Zhang Yida refused, so he found Softbank again.

SoftBank agreed to take over the shares, but at a very low price, with a valuation of US$30 billion.

Chen Wei thought about it, and finally decided to admit it with his nose pinched.

"Mr. Chen!"

The assistant led a man in a suit in his 50s into Chen Wei's office, and the latter shouted with a smile.

"Oh, Mr. Xue is here, please sit down."

Chen Wei greeted the guests to sit down, and asked the assistant to serve two drinks.

Mr. Xue wears glasses and looks elegant.

His real name is Xue Cunhe, and he was one of the founders of UT Starcom in his early years. He founded Softbank China in 2000 and has served as the managing partner until now.

Jack Ma received a $6 million investment from Softbank in 2000 minutes. In fact, the real version is far from that.

In 99, Sun Zhengyi came to China to inspect projects and gave each interviewer a chance to introduce their projects within 6 minutes.

After the presentation at that time, Jack Ma's team only obtained preliminary approval from Sun Zhengyi and his investment team, and did not make a decision on the spot that he must vote for Jack Ma.

Xue Cunhe was in charge of the due diligence investigation on Ali at that time. After completing the investigation, Xue submitted a report to the headquarters of Softbank in Japan, saying that he strongly recommends only investing in Jack Ma and his family.

At that time, there were four major B2B e-commerce companies in China: MeetChina, 8848, Sparkice, and Ali Baba.

Before Sun Zhengyi came to China for inspection, Zeng Qiang, the founder of Sparkice, had already met Sun Zhengyi in Japan, and Sun Zhengyi also promised him that Softbank would invest in Sparkice.

Xue Cunhe supported Ali Baba. He believed that Jack Ma and his team were more reliable and credible, while Zeng Qiang, the person in charge of another project, was "too bragging".

With the strong support of Xue Cunhe and several other SoftBank China investment managers, Sun Zhengyi stopped the contact with Sparkice.

And in January 2000, more than two months after the "1 Minutes" statement, Sun Zhengyi invited Jack Ma to Japan and directly proposed his decision to invest in Ali Baba.

For this legendary boss, Chen Wei is still full of respect.

"Mr. Chen, for Didi's US$55 billion strategic financing, we at Softbank have initially confirmed our investment intentions."

Chen Wei looked happy, and Xue Cunhe continued: "But we have a condition."

(End of this chapter)