Winning the new financial era

Chapter 514 Management Power

Standing in front of the huge floor-to-ceiling windows, Zhang Yida held a cup of coffee and looked at the coastline of Singapore in the distance.

He praised: "The scenery is good, facing the sea, the spring is warm and the flowers are blooming!

If I can face such beautiful scenery every day at work, even 996 or 007 would be willing every day! "

Grab has a research and development laboratory in Beijing, and Chen Bingyao also understands what Zhang Yida said.

He smiled and said, "As long as the money is in place, everything can be discussed."

Zhang Yida smiled and didn't continue playing tricks.Because he knows that Grab is different from domestic Internet companies and does not engage in overtime culture.

This is also related to the lack of fierce Internet competition in Southeast Asia, and domestic Internet companies dare not play like this.

"I haven't had time to congratulate you, a $2000 billion company, amazing!"

Chen Bingyao walked to the window and watched the sea side by side with Zhang Yida.

"Grab will have that day too."

Chen Bingyao only took it as a polite remark, and did not refute it, and replied with a smile: "Then I will lend you a good word!"

"After Grab merged with Uber, it should be able to dominate the taxi-hailing world in Southeast Asia, right?"

Chen Bingyao looked at the ceiling, took a deep breath, and said slowly: "It is difficult to win the Indonesian market completely, there is local protectionism, and Makarim's family is an old political family.

You should be able to understand what I mean, right? "

Zhang Yida knew that Grab had entered the Indonesian market, and it had been difficult for a long time to obtain a business license.

Otherwise, Grab, which has developed for several years, may have killed GoJek long ago.

Why Chen Bingyao has some disdain for GoJek, it has nothing to do with these things.

"Unable to quickly solve the travel war, other businesses such as mobile payment and financial technology will not be able to fully participate in the competition."

Chen Bingyao smiled wryly, "There is no way to do this, after all, unlike China, which is a vast country with uniform standards.

Chinese Internet companies can cover the entire country in two years, while it may take five or six years for Southeast Asian Internet companies to cover only six mainstream countries. "

Zhang Yida nodded. He only knew how troublesome the markets of so many small countries were when he went to sea.

It is necessary to understand local customs and launch targeted activities; it is necessary to understand local religions so as not to cause some oolong incidents and blaspheme which great god...

"How is Uber's business digested?"

Uber Southeast Asia was acquired by Grab in March. Three months have passed by this time, and Zhang Yida guessed that most of it should be digested.

"There is no problem with the takeover of personnel and teams, but some countries have made different voices, saying that Grab is involved in monopoly."

Chen Bingyao shrugged, feeling very helpless, not knowing whether to be happy or worried.

Zhang Yida smiled, and asked about the takeaway business again.

"The food delivery business should be one of the profitable businesses in the future."

On this point, Chen Bingyao is very convinced.

Then he said: "There are many competitors in the food delivery field. In addition to GoFood under GoJek, there are several other mainstream food delivery platforms competing with us for the market.

However, with the help of the resources accumulated by Grab on the travel platform, we are confident to defeat other competitors and become the leader in the industry. "

Zhang Yida nodded slightly, expressing his approval of these views.

The travel markets in Southeast Asia and China are somewhat different. Most of these online car-hailing drivers who carry passengers use motorcycles.

From "carrying people" to "delivery food", except for the system, basically no major changes need to be made in other places, and the transition is very smooth.

Moreover, there are currently no food delivery companies with the size of Ele.me and Meituan in Southeast Asia. Sooner or later, the business will be eroded by the two major travel platforms.

On this point, they achieved the breakthrough that Didi dreamed of.

"I heard that you intend to let GrabPay add driver insurance, P2P micro-loans, wealth management and other financial services in addition to the existing mobile payment business?"

Chen Bingyao said with a smile: "After entering 2018, GrabPay has developed rapidly, and now it has entered 8 cities in 235 countries. I think the time to start monetization has come."

Zhang Yida nodded secretly. Compared with other companies, Grab has already shown itself to be a giant.

From its establishment in 16, to 17 cities in early 30, and now to 235 cities, it can be called a leapfrog development, firmly sitting on the throne of the number one e-wallet in Southeast Asia.

"Oh, by the way, I heard that the number of Grab users has exceeded 1 million?"

Chen Bingyao smiled, "Actually, there are only 9500 million, the effect of publicity, you know."

Zhang Yida understands it quite well, and feels that this exaggeration is nothing. Compared with domestic Internet companies, it is simply nothing.

"After Sea's listing, the stock price has risen well. When will Grab put IPO on the agenda?"

Chen Bingyao shook his head, "I want to wait a little longer. Now many businesses have not yet matured, let alone profits. After the acquisition of Uber, the revenue has barely reached 10 billion US dollars."

A revenue of US$10 billion corresponds to a valuation of US$100 billion, and a price-to-sales ratio of 10 times is not an exaggeration.Zhang Yida thought to himself.

The two chatted about business again, and Zhang Yida had a clearer understanding of Grab's current development.

Seeing that the fire was almost over, Zhang Yida began to ask: "How long do you think it will take for Grab to become a unicorn worth hundreds of billions of dollars?"

"Hundreds of billions of dollars?"

Chen Bingyao is not particularly surprised, because Grab has reached a valuation of tens of billions of dollars, and he has not never dreamed of a hundred billion dollars.

I was just a little surprised why Zhang Yida suddenly asked this question.

"Maybe five to ten years!"

Chen Bingyao didn't say that he couldn't reach [-] billion U.S. dollars, which is tantamount to saying that he is setting limits for himself and the company.

It's not that he hasn't studied the market. There are so many young people in Southeast Asia, and the economy is also developing rapidly.

It will be a matter of time before a giant company that is equivalent to one-fifth of Ahri and Penguin emerges.

As one of the largest Internet companies in Southeast Asia, Grab is certainly qualified to compete for the throne of the [-] billion-dollar empire.

"The existence of GoJek will always be an obstacle to the development of Grab.

Can you concentrate on developing other businesses when there are still enemies in your main business? "

Chen Bingyao sniffed out something different and asked, "Did GoJek ask you to be a lobbyist? They want to accept mergers and acquisitions?"

"No, I took the initiative to be this lobbyist."

While talking, Zhang Yida observed Chen Bingyao's expression. The latter's expression was normal, and he could not tell whether he liked or disliked.

Seeing that Chen Bingyao remained silent, Zhang Yida continued to persuade: "There is no need to reject mergers and acquisitions so much, we should enlarge the structure a bit."

Chen Bingyao shook his head, "It's not about the layout. In my eyes, GoJek is not worth $50 billion at all."

"But after the acquisition of GoJek, the capital market will make up the price difference for you."

Chen Bingyao understands what Zhang Yida means, and completely dominates the travel track in Southeast Asia, and the capital market gives a certain premium space.

"After the merger, how will GoJek's management team be arranged?"

Seeing Chen Bingyao's question, Zhang Yida knew there was something going on.

He quickly recounted to Chen Bingyao the agreement he had made with Makarim, and emphasized that the latter would not keep occupying the position of CEO, and the main purpose was to get addicted and improve his reputation.

"What if Makarim keeps occupying the position and refuses to give up?"

Zhang Yida said: "There is a term of office, and when it expires, the board of directors will be re-elected."

"But Grab is my company. Why should I let him be the CEO? Then why should I? Make him a subordinate?"

Although Chen Bingyao was well-bred, he was inevitably a little annoyed when he heard Zhang Yida's bad idea at this time, letting his defeated generals climb on his head.

"You come to be the chairman of the board of directors!" Zhang Yida said seriously.

Chen Bingyao glanced at Zhang Yida, "What about you?"

"Rui Xiang should just be a wealthy idler."

Hearing what Zhang Yida said, Chen Bingyao felt a little relieved.

With the current size of the company, it is natural that it will not be willing to be a holding subsidiary of Ruixiang.

And if Ruixiang is only a major shareholder and does not take away the management rights, it is not impossible to discuss.

"RPay and Buy Together will also be merged!"

Chen Bingyao frowned. With so many companies coming in at once, although the company would expand into a giant, his equity would also be diluted a lot.

"After dominating the transportation and travel track, there are only two general directions left for Grab, one is e-commerce and the other is financial technology."

Chen Bingyao thought about it, and it was indeed the case.

After swallowing GoJek, if you want to take the company to a higher level, you must also cut into other new fields.

As the two largest tracks, e-commerce and financial technology have almost become a must.

"How many shares do you want?"

Chen Bingyao asked directly. He didn't believe that Zhang Yida worked so hard to promote this matter, and he had no interests of his own.

If he asks too much, then he has to carefully weigh the gains and losses.

"How about 40%?"

Almost most of the pawns laid out in Southeast Asia are planned to be incorporated into Grab, so Zhang Yida naturally wants to seek the position of major shareholder.

Similar to the relationship between Penguin and Sea, being a major shareholder does not fully control the company.

Because of the existence of AB shares, it is also difficult to control Grab unless the founders are willing to give up.

The competition in the Internet industry in Southeast Asia is becoming more and more fierce. Zhang Yida feels that it is necessary to integrate the resources in his hands, so as not to give Penguin and Ahri a chance to defeat each other.

"I'll think about it."

Chen Bingyao still didn't reply rashly to Zhang Yida. After all, the matter was so big that he couldn't promise anything at will.

In addition to discussing with the founding team, shareholders also need to communicate.

"Don't make me wait too long. If I miss it, GoJek will accept US$15 billion in financing. The chances of re-merger are slim, and there are many conflicts at the shareholder level."

Hearing the figure of US$15 billion, Chen Bingyao was still a little surprised, although last year Grab accepted a huge round of financing of US$25 billion led by Softbank.

But GoJek is now also getting such a large amount of financing, which is not good news.

After the financing is completed, the travel battle between the two sides will form a stalemate again.

"I won't make you wait too long, and I will definitely give you a satisfactory answer within a week."

After listening to Zhang Yida's conditions and the blueprint he described, from a personal point of view, Chen Bingyao was very tempted.

It's just that with so many companies, his personal shareholding ratio may fall below 2%, which is even worse than Chen Weidu.

But being in charge of one of the most valuable unicorns in Southeast Asia is worth it.

(End of this chapter)