Winning the new financial era

Chapter 559 Online Education
In less than a month, Sharp sold the equity of more than 20 unicorn companies it held, recovering more than US$50 billion in funds.

At the same time, the territory of the sharp direction system has also shrunk by more than half.

"Zhang Yida feels that the potential has been exhausted", "there is no synergy with Ruixiang's business", "the company has been fooled by Ahri and Penguin" and so on. None of the companies remained.

These companies are basically invested in the first phase of Ruixiang Industrial Investment Fund, a small part of which is invested by the company's own funds, and some are chaotic.

At the same time, Ruixiang was not influential enough at the time, and the wallet was not big enough, and it did not conduct multiple rounds of follow-up investment, and the right to speak in these companies was not strong.

Ruixiang Industrial Investment Fund only raised three phases. After the third phase of funds was invested, there was no further fundraising. Instead, this function was replaced by the Ruixiang Strategic Investment Department.

Ruixiang now has a lot of funds in its account, more than 100 billion US dollars, and there is no need to raise funds at all.

After all, the funds raised are not your own, and some companies may need to be acquired, or hold equity for a long time, and exiting is a troublesome matter.

The outside world has various interpretations of Zhang Yida's practice of "slimming down" the Ruixiang Department.

It is said that Ahri, Penguin, and Goudong jointly launched a counterattack, the purpose of which was to interrupt Ruixiang's territory expansion.

Can't hurt your own business, can't you recruit a few younger brothers?
It is also said that Zhang Yida has a strong sense of urgency and likes the feeling of holding a lot of cash in his hand.

This can be seen from the behavior of selling Huimin Travel and Green scooters.

Ruixiang’s remaining younger brothers are indeed running out. Leaving aside the batch abroad, domestic AI only has SenseTime, and then there are a few hardware companies, a few online education companies, and a few content companies. It seems quite For desolation.

In fact, Zhang Yida is secretly having fun right now.

Among the US$52 billion, Ruixiang can allocate US$12 billion to the investment part of its own funds.

Of the US$3 million contribution of the first phase of the fund, Ruixiang contributed 1 million, Huayi Capital 1 million, Yimin Wangjin 5000 million, Heishan Capital 4000 million, and Zhenke Fund 1000 million.

As a GP, Ruixiang also enjoys the 20% dividend right of Fuying.

In the end, adding up all the zeros and zeros, Ruixiang took away the bulk of the 52 billion US dollars, 30.28 billion US dollars.

Huayi Capital allocated 10.86 billion US dollars, Yimin Network Fund allocated 5.43 million US dollars, Heishan Capital allocated 4.34 million US dollars, and Zhenke Fund allocated 1.09 million US dollars.

Anyway, except for Ruixiang, all investors have earned nearly 10 times.

In addition, the shares of companies such as 36 Krypton, Shangchao Technology, Himalaya, and Bilibili in the first-phase fund of Ruixiang have not been sold yet.

When it is sold, there will be another sum of money.

Regardless of what the outside world said, Xu Xiaoming praised Zhang Yida so much that he was almost giddy at the dividend meeting.

"Hey, Yida, you are such a... how embarrassed I am!"

Xu Xiaoming laughed "haha", "Huayi Capital has invested in TMD, plus Huimin travel.

The first phase of Ruixiang Fund made me earn ten times... oh, more than ten times, and it will be credited in the account after two years. "

He sighed, "Oh, it's a loss, it's a pity that I only invested 1000 million dollars in it."

Shen Beipeng smiled faintly, "The company is sold out, and Ruixiang has more than 1000 billion yuan in its account, we can't wait for it to rot.

Have you found a new target?Spend it out to generate greater value. "

Zhang Yida nodded, "The next step is to implement it. It is impossible to spend it all. A certain amount of cash must always be kept in Ruixiang's account."

Shen Beipeng thought for a while and asked, "Is it education?"

Zhang Yida nodded, and Shen Beipeng knew it well, no wonder why he deliberately left a few online education companies.

Is online education related to Ruixiang business?Not currently.

If he stayed on purpose, he must have thought about it.

However, Shen Beipeng felt that there were some words that he could not vomit quickly, "Yida, there are already two giants in online education, TAL and New Oriental.

In addition, Yuanfudao and VIPKID have already passed the D round, and their valuations are all billions of dollars.

It's just getting in now, it's a bit late, I'm not very optimistic about it, unless you integrate them. "

Zhang Yida said lightly, "Let's talk first, I certainly hope that it can be resolved peacefully."

Xu Xiaoming couldn't help asking: "Want to enter the education industry?"

Not only Ruixiang and Heishan Capital, Zhenke Fund also made a big bet on this track.

The most embarrassing thing for an investment institution is to accidentally injure a friendly army, and two invested companies burn the money of the same fund.

The best solution is to "merge" to avoid involution.

The topic was a bit heavy, so Fan Hongyang hurriedly changed the subject, "With more than 5 million US dollars divided, the stock price of Yimin Wangjin should be stable, right?

If it falls any further, it will break the net worth. "

But his words didn't work, and everyone's focus is obviously not on this.

"Yufufudao is a Penguin family, and VIPKID is more complicated. We have investments with Zhenke, as well as Penguin and Yunfeng Fund."

Shen Beipeng analyzed calmly, "Although Ruixiang holds shares in both companies, it may not be able to convince Mi Wenjuan and Li Yong."

Zhang Yida nodded. The situation was indeed a bit complicated. If he couldn't be persuaded, he had to fight.

Online education is a big outlet, and Ruixiang has traffic and resources in its hands, so there is no reason to let it go.

Moreover, education, like medical care, is a thriving industry with great potential.

It's just that the current stall is big enough, and you can gain benefits in other ways, so it's better not to start a war rashly.

……

"After the merger, who is in charge? Who is in charge?"

Li Yong, the CEO of Yuanfudao, respects Zhang Yida. After hearing the other party's merger proposal, he did not overreact, but pointed out the core problem.

Zhang Yida is also troubled by this issue. Both valuations are about 30 billion U.S. dollars, and their volumes are very similar.

One mountain cannot accommodate two tigers, and one of the two founders must step down.

The reason why Zhang Tao, who commented back then, was willing to regress was because he was older than Huang Xin, so he took it lightly.

"Online education is now in a mess. If we unite early, we can make the cake bigger."

Zhang Yida said with a smile, "Yuanfudao focuses on K12 education, and VIPKID focuses on online children's English education, plus a vocational education, this game is complete.

Among other things, at least we can compete with TAL and New Oriental. "

Li Yong nodded, "I admit, Mr. Zhang, the career blueprint you drew moved me very much.

But I must retain the control of the enterprise. If I can't even guarantee this, I can't agree. "

Zhang Yida thought for a while and said: "I can promise you this, Ruixiang is only a strategic investor and will not interfere with your daily operation and management.

But Mi Wenjuan still needs a face-to-face communication with you. "

Li Yong said with a smile: "If Mr. Zhang can persuade her to merge and let me be the CEO, then I have no problem and fully support it."

Zhang Yida felt a little tricky, but he couldn't guarantee that Mi Wenjuan would be obedient.

Although she is a female entrepreneur, she is also a woman who made a valuation of 200 billion yuan.

Can this kind of woman be simple?

"Okay, let's talk about this first!"

Zhang Yida warned again, "Don't say anything, and don't tell other shareholders."

Li Yong knew that the other party was letting the penguin go, so he nodded with a smile.

(End of this chapter)