Winning the new financial era

Chapter 511 Into the Enemy
While Zhang Yida was still in Indonesia, GoJek CEO Nadeem Makarim came to his door.

Zhang Yida met him in the private meeting room provided by the five-star hotel where he was staying.

"Here, first of all, congratulations to Mr. Zhang's Ruixiang Group for becoming the world's most valuable unicorn.

Haha, 2000 billion US dollars, really amazing! "

Makarim was born in a prestigious school, and his family is an old Indonesian political family, and his social etiquette is still very decent.

At this time, when it comes to polite words, there is simply one set after another.

Zhang Yida smiled faintly. He guessed that Makarim came to see him suddenly, instead of making phone calls or sending emails like usual. He should have something important to discuss.

"Buy Together has made a big news this time, and now the whole of Indonesia is discussing this company."

Makarim said with a smile, "US$12 billion is the highest single-round financing record for an Indonesian Internet company ever.

With a valuation of US$72 billion, it has also become the unicorn company with the highest valuation in Indonesia.Even if we look at the entire Southeast Asia, only our old rival Grab can compete with "buy together". "

Seeing that Makarim hadn't gotten to the point, Zhang Yida was even more sure of his guess. This kid definitely had something in his heart.

However, Zhang Yida did not go to expose, but followed Makarim's words: "The two largest Internet market segments in Southeast Asia, one is e-commerce, and the other is transportation.

E-commerce competition is fierce. Amazon, Penguin, and Ali have all entered the game. It is not yet known who will win in the future.

But the situation of transportation is already very clear, the future winner is either GoJek or Grab. "

Makarim nodded, which is why he didn't get involved in the e-commerce industry.

If the US Internet is the master of the Chinese Internet, then the Southeast Asian mobile Internet is the apprentice of the Chinese Mobile Internet, deeply influenced by Chinese giants.

Makarim has always wanted to make GoJek into a super APP, which can not only hail taxis, order food, but also provide express services.

China’s WeChat, Alipay, and Touronghui have set a good example for him. He believes that the correct development direction of a super unicorn company is like this. It has diversified services and maintains the flow of its own platform to the greatest extent to promote more great commercial value.

Makarim couldn't hold back anymore, and said truthfully: "After Grab acquired Uber Southeast Asia, the market has jumped to No. 1 in many ASEAN countries.

Take the Philippines as an example, Grab has already accounted for 93% of the local market share.

This is by no means good news for GoJek. "

Ruixiang is a shareholder of Grab, and Zhang Yida is also aware of the detailed transaction of Grab's acquisition of Uber's Southeast Asian business.

Similar to Didi’s merger with Uber China, Grab merged Uber Southeast Asia with a 27.5% stake.

This transaction not only successfully established Grab's position as the No. 100 taxi-hailing brother in Southeast Asia, but also made Grab's valuation reach [-] billion U.S. dollars, becoming the first super unicorn in Southeast Asia's history.

The limelight is all the time!
Why it is Grab's turn to acquire Uber Southeast Asia is also very particular.

Important transportation players such as Softbank and Didi are shareholders of Grab, while Uber is a shareholder of Didi, and Softbank is a shareholder of both Uber and Didi.

The shareholders of GoJek, except for Sharp, are all ordinary investment banks, and the backstage is not as strong as Grab. Naturally, they can only watch the fat go into the mouths of their opponents.

In this matter, Zhang Yida was helpless.

Ruixiang is a shareholder of the four major taxi-hailing platforms including Didi, Grab, GoJek, and India’s Ola. If he had agreed to exchange shares with Uber when Green was sold, Zhang Yida would have been able to include Uber in his business.

But Zhang Yida did not agree to do so, because Uber could not promote the implementation of Ruixiang's mobile payment in Europe and the United States.

This is not the case for the other four taxi-hailing apps, all of which have important partnerships with Mobao Pay and the other three local e-wallets.

However, Ruixiang’s shareholding in these companies is not high, mainly because the taxi-hailing field is too expensive to play.

Softbank is different. It has a high shareholding ratio in all major taxi-hailing software, and it can be called the largest player in the world's transportation.

After Softbank took over the shares transferred from Penguin, together with some of the equity acquired from the previous investment, the current shareholding ratio in Xinruixiang Group has exceeded 15%.

Zhang Yida also remembered one thing at this time.

Leech Financial announced at the beginning of the year that it would transfer 33% of its shares to Ali Baba Group.

This incident that caused foreign shareholders such as Softbank and Yahoo and Jack Ma to suffer, and also damaged the reputation of Jack Horse, is finally coming to an end.

The matter can be traced back to eight or nine years ago. Through various operations, Jack Ma spent a total of 3.3 million yuan on two occasions to spin off the Alipay business from Ali Baba Group.

And put this business into Zhejiang Ali Baba Business Co., Ltd., which Jack Ma holds 80% of the shares.

According to the shareholding ratio at the time, Softbank and Yahoo would occupy 34.5% and 22.6% of the shares of Alipay respectively, but Jack Ma personally held 80% of the shares.

Of course, the foreign shareholders quit, thinking that Jack Ma violated his business reputation, and spread the matter internationally to put pressure on Jack Horse.

Even the US dollar fund’s investment in China’s Internet industry was affected in those two years, because venture capital was afraid that the same thing would happen and suffer huge economic losses.

The explanation given at the time was that the country does not allow foreign capital to control online payment tools, and Jack Ma had no choice but to make this decision.

After communicating with shareholders such as Softbank and Yahoo, a relevant agreement was reached:
Leech Financial Services needs to pay Ali each year for intellectual property and technical service fees, which is equivalent to 37.5% of Leech Financial Services’ pre-tax profits;

At the same time, if conditions permit, Ali has the right to become a shareholder and hold a 33% stake in Leech Financial Services, and transfer the corresponding intellectual property rights to Leech Financial Services.

To say that the matter has been satisfactorily resolved is not surprising.

Otherwise, Yahoo Japan would not have chosen to jointly establish PayPay, the joint venture e-wallet with Ruixiang. This is actually behind Sun Zhengyi's dissatisfaction with Jack Ma.

Softbank has been reducing its shareholding in Ali, and it still holds 28.8% by the middle of this year, which is equivalent to indirectly holding 9.5% of Ali Financial Services.

It's just that this part of the equity has not yet been delivered, and it is expected to wait until next year.

And even if the delivery is completed, Softbank’s interest in Leech Financial Services is far lower than that of Ruixiang, which holds more than 15% of the shares.

If Softbank prefers Leech Financial, and a series of Internet applications invested by Softbank in Southeast Asia and India prefer Leech Financial's e-wallets, it will have a huge impact on Ruixiang's overseas mobile payment business.

But Zhang Yida is not worried that Sun Zhengyi is biased towards Leech Financial Services, after all, businessmen will always settle accounts.

Seeing Zhang Yida suddenly lost his mind, Makarim coughed, and the former quickly came back to his senses.

"Sorry, I was just thinking about something."

Makarim waved his hand to show that he was okay, and continued: "Facing the huge competitive pressure brought by Grab, GoJek is going to conduct a huge round of financing next."

"Huge financing?"

Zhang Yida asked, "How much?"

Makarim said excitedly: "15 billion dollars!"

Hearing this, Zhang Yida smiled and said, "This is a good thing! Did you come here to discuss this with me? There is no need to discuss it, I support it."

Makarim's hesitant expression made Zhang Yida frowned. Could there be something hidden?
So I asked Makarim: "Who participated in this round of financing?"

Makarim gritted his teeth, and said bluntly: "There are Google, Temasek, Blackstone, Meituan, Goudong, and... Penguin!"

Glancing at Zhang Yida, whose face was sinking like water, Makarim also felt helpless.

If not, what will GoJek do against Grab, which has many backers.

(End of this chapter)