Winning the new financial era

Chapter 512 Bold Ideas

Zhang Yida didn't immediately comment on the matter, but carefully considered Penguin's plan behind it.

The biggest role of GoJek for Ruixiang is to serve as the application layer of Indonesian local e-wallet RPay, which facilitates the development of mobile payment for RPay.

With the rapid growth of RPay's user scale, the commercial value has become more and more prominent, and at the same time, the burning of money is also extremely severe.

After completing the financing of 5250 million U.S. dollars, a round of internal capital increase of 2 million U.S. dollars was carried out later.

GoJek, Tokopedia, and Traveloka, as well as Sinarma Group and Lippo Group, were unwilling to have their shares diluted, and made follow-up investments in accordance with their respective shareholding ratios.

Only Makarim couldn't afford it, or he was reluctant to pay nearly 400 million US dollars for follow-up investment, and his shareholding ratio was diluted to 0.8%.

And this part was paid for by Ruixiang, and Ruixiang's shareholding ratio increased from 49.66% to 50.13%.

The other three Internet companies still hold 10.07% of the shares, and the two old Chinese chaebols still hold 9.43% of the shares, neither of which has changed.

Tokopedia has changed its name to buy together, and has been controlled by Ruixiang.Ruixiang also holds a small share of the other two Internet companies.

Therefore, regardless of whether GoJek accepts Penguin's investment, it will not be able to shake Ruixiang's controlling position in RPay.

In addition, RPay and Sea Group's AirPay are competitors.

So what is the significance of Penguin's stake in GoJek?Hedging?

Zhang Yida felt that it was not that simple, looked at Makarim, and said indifferently: "Did Penguin promise you some conditions?"

Makarim is no longer a young man, he is in his 30s, and he is a bit of a city.

He smiled and replied, "What did you promise? Nothing."

Zhang Yida didn't quite believe what he said, it must not be that simple.

"Penguin owns the Sea Group, covering three major sectors: games, e-commerce, and payment.

As a transportation company, what can GoJek provide to Penguins?
Only pay, and only pay. "

Zhang Yida looked at Makarim jokingly, he felt that he was about to guess the truth.

Makarim has been dissatisfied with RPay's shareholding structure for a long time. He has repeatedly mentioned increasing GoJek's shareholding in the e-wallet joint venture company, but Zhang Yida rejected them all.

Makarim shook his head and laughed, "Mr. Zhang, you are worrying too much. RPay is getting better and better. How can I give up all this and start another business?"

On the surface Makarim looked innocent, but in fact he was very restless in his heart.

GoJek has made a lot of contributions in the process of promoting RPay. How can he be convinced that he only has 10 points of shares after such a big effort?
He did not deny that the other two shareholders, e-commerce website Tokopedia and travel website Traveloka also played a role in the promotion of RPay.

Including Ruixiang dispatching engineers from China and providing certain technical support, all of which have contributed to the rise of RPay.

But what about GrabPay?There is no harm without comparison.

This e-wallet is a holding subsidiary of Grab, with Grab holding 51% of the shares and Sharp Xiang holding 49%.

Although direct shareholding plus indirect shareholding, Ruixiang's shareholding ratio is more than 50%, and it is a hidden major shareholder.

But in terms of direct shareholding and right to speak, Grab is the real controller of GrabPay, and Ruixiang just enjoys more economic rights and interests.

Grab can build multiple application scenarios based on payment because GrabPay is under the control of the former.

But GoJek can't, because RPay is only a joint stock company of GoJek, and GoJek can't control this company at all, let alone generate greater business synergy.

The confrontation between Grab and GoJek is all-round. Seeing that the development of the old rival is not too restrictive, Makarim is naturally envious and jealous.

He has asked Zhang Yida many times. According to his idea, Ruixiang can continue to retain the status of the major shareholder, and GoJek will buy the shares held by the other four institutions.

He believes that such a request must not be excessive, it is just a normal request.

However, Zhang Yida didn't even satisfy him with this little request, and even said that he needed to unite more forces to make the cake bigger.

While this made him depressed, he also felt deeply regretful.

Maybe it shouldn't have accepted Ruixiang's investment in the first place, and even established RPay as a joint venture.

But he didn't dare, and couldn't leave Rui Xiang's camp rashly, just when he was about to give up his e-wallet dream.

Penguin's Liu Zhiping came to the door and offered a condition that made Makarim very excited.

"Penguin supports GoJek to create its own e-wallet, with GoJek holding 51% and Penguin or AirPay holding 49%.

Penguin has never been a domineering company, what we pay attention to is win-win.

GoJek doesn’t have to worry about being evil. With Penguin here, we will cover your company’s follow-up financing. "

Liu Zhiping's words were very tempting and solved a lot of worries, making it difficult for Makarim to refuse.

Compared with Ruixiang, Penguin is undoubtedly stronger, with a thicker thigh.

Looking at the smiling and relaxed Makarim, Zhang Yida felt suspicious. Could it be that my judgment was wrong?
"Why do you have to accept Penguin's investment? Do you know that AirPay is our important competitor."

Makarim smiled, "It's okay, GrabPay is also our competitor! It's normal for a giant company to bet on a few heads, and I'm very open about it."

Zhang Yida heard the thorn in his words, and asked, "Makarim, are you dissatisfied with my rejection of your request?"

"no!"

Makarim said with a normal face, "Mr. Zhang, you are right, we should unite more partners to make RPay's payment scenarios more diverse."

Looking at Makarim's face, Zhang Yida scrutinized him for a long time, but couldn't tell the truth of what he said.

"Reject the shares of Penguin and Goudong. How about Ruixianglai leading this round of financing?"

Makarim was slightly surprised by Zhang Yida's words.

Ruixiang has not made a follow-up vote since it made a round of GoJek a few years ago.

In Makarim's mind, Ruixiang is not particularly optimistic about the transportation and travel track. At least compared with e-commerce and mobile payment, the investment in transportation and travel is very little.

Apart from taking a small amount of shares and bringing transportation companies into Ruixiang's mobile payment ecological partners, there are basically no other additional ideas.

But this suddenly changed. Could it be that he was stimulated by the penguin and felt a sense of crisis?

Makarim said with a smile: "Grab has a very luxurious shareholder team, and GoJek is far behind them in this regard."

Hearing this, Zhang Yida frowned. Is this a tactful rejection?
"Are you determined to take Penguin's investment?"

Seeing Zhang Yida getting serious, Makarim also put away his smile, looked at Zhang Yida, and said calmly: "GoJek wants to survive and survive well, that's the only way."

"You mean you can't survive with Ruixiang's investment?"

Makarim said: "Ruixiang is a shareholder of Grab, right? SoftBank is also a shareholder of Grab, right?

There are also GGV, Gaoling Capital, China Investment Corporation... These are the common shareholders of Ruixiang and Grab. "

Zhang Yida shook his head, "You got it all wrong, so what about the shareholders? Ruixiang is developed under my will, I can completely control Ruixiang, and I will not do anything that is not good for GoJek.

Besides, is it safe for you to fall to the penguin? "

Makarim said stubbornly: "At least we don't have any conflicts with Sea's business. If there are conflicts, they will happen at most..."

Realizing that Makarim was about to slip up, he quickly changed the topic: "In short, I have already decided on this round of financing, and no one can change my decision."

"So, you just let me know as a matter of routine?"

Makarim shook his head, "I don't want to make trouble with Mr. Zhang, but please understand me!"

"I have a bold idea, I wonder if you would like to hear it?"

(End of this chapter)