Is LeTV short of money? Definitely! Public information shows that LeTV spent US$700 million to acquire 70% of the shares of the online ride-hailing company Yidao in October 2015. In the first half of this year, Yidao began to frantically subsidize users and seize the market.
Preferential policies include: get as much as you recharge, get LeTV mobile phones with recharge, get LeTV TV with recharge, etc.
This "playing style" is very popular with LeTV. It is a common business tactic of LeTV: high and high. Simple, brutal and direct.
Half of the US$700 million was burned in half a year. Yidao's market share has skyrocketed to 2.7%. Yidao CEO Zhou Hang announced that Yidao has achieved three goals of "one million daily orders, one million new drivers, and one million new vehicles."
At a time when the fierce battle between Didi and Uber is in full swing, Yida is jumping like this. How long can this money-burning model continue? If LeTV wants to continue to be a player in the "shared travel" field, it still has to invest money.
Secondly, LeTV’s “hardware” is all sold at a loss. You are losing money selling mobile phones, and you are losing money selling TVs. LeTV hopes that members can make money, and is currently in a fierce battle with video websites.
Finally, the big money maker is LeTV Automobile. On January 5, 2016, LeTV released FF (Faraday Future)'s first concept car FF zero1.
All of the above are foreseeable losses, but will LeTV be short of investment? No shortage!
This sentence may be a bit mouthful, but think about how many years it took for Amazon to make a profit? Has Tesla ever made a profit? They can always raise money. What’s even more awesome about Amazon is that it doesn’t pay dividends. Now LeTV is taking this path.
In other words, LeTV’s business model is here. If you believe that it will succeed in the future (there is a template in front) and you are willing to take a gamble, you invest. If you feel it is not stable, you will not invest.
Mr. Jia’s ppt and speeches are said to be unique in the world.
According to the logic that there is no shortage of investment in high-quality targets, LeTV should have no shortage of people to invest.
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Jing Gao wanted to talk directly with Mr. Jia, and the rest, such as Zeng Qiang and others, withdrew. The next conversation was about business secrets.
Jing Gao looked at Mr. Jia who was flipping through the information in the folder at hand to formulate a speech. He was not in a hurry and drank tea slowly. Guan Yujia sat next to him, dressed in professional attire, and smelled a faint fragrance. Ninety-six points of appearance, pleasing to the eye.
Jing Gao's overall attitude towards Mr. Jia, a strongman in the business world and a big boss, is relatively calm, with the idea of discussing business.
First, Mr. Jia’s entrepreneurial experience is not enough to become an entrepreneurial idol for young people. Back then, Shi Yuzhu was the one.
He is not a fan of Mr. Jia. Of course, you have to admit that Mr. Jia is really awesome.
Second, as a tycoon with unlimited cards, in terms of pure competition for funds, even sitting in front of Ma Ali is equally worthwhile.
What makes him inferior to these business tycoons is his deep political and business connections and influence.
Mr. Jia folded the folders, sat on the other side of the glass-topped conference table, and said sincerely: "Mr. Jing, LeTV's ecological response is different from any current domestic business model. We are brand new and are A new species.
LeTV is indeed short of money, but there is no shortage of investors, and many people want to come in. But as for me, I hope to choose like-minded friends to fight for my dreams and suffocate for them! "
I go.
Mr. Jia said, "The language style has its own system!"
Jing Gao said simply: "Mr. Jia, please stop for a moment and please allow me to digest it." He actually figured out something from these words. First, LeTV has capital needs and is particularly eager for funds to come in.
When capitalists talk about feelings, problems become big.
First of all, it was LeTV who took the initiative to contact him. No matter how beautiful Mr. Jia’s words were, it was useless. A lack of money means a lack of money.
Secondly, Mr. Jia told him face to face that he was short of money. It must be that he was really short of money and could hardly cover it up. Otherwise, who would deliberately reveal it. This is not the logic of business negotiations.
Second, Mr. Jia’s essential purpose today is to trick him into investing money. And there is no idea of selling the assets.
Let’s fight for our dreams together! Of course the helmsman must be Jabs, but could it be him, a twenty-seven-year-old young man?
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Jing Gao always felt that his stomach was empty and had no goods. But you will find that he still has something. At least, the improvement of emotional intelligence allows him to guess people's psychology.
Thinking about it, Jing Gao said: "Mr. Jia, I have read LeTV's public information. I admire your ideals. But I like to control the overall situation. I wonder if Mr. Jia is interested in selling a certain ecosystem? "
Jing Gao doesn’t know what LeTV’s future will be. His idea is very simple. The purpose of making business decisions is to expand his influence. His investment in Mr. Jia has no such effect at all. But it is possible to buy a piece of assets.
Jabs refused, "Mr. Jing, LeTV's seven ecologies are a closed ecological loop, each of which is indispensable. Only when combined together can the chemical reaction be maximized." Zai said earnestly: "
Mr. Jing, since you want to acquire LeTV’s sub-ecosystem, you must have known about it before. These sub-ecologies are all very high-quality assets. Platform + content + terminal + application, the energy generated is far beyond a single model.
So, why not get involved together? I can open any ecosystem under LeTV to you for financing. "
Jing Gao thought: That's not necessarily the case. Your LeTV is not irreplaceable in the video field. He has not watched movies or TV series on LeTV in recent years. Of course, this may have something to do with his lack of a girlfriend.
Because, LeTV’s hit dramas all have “big heroines”! Zhen Huan and Mi Yue are both dramas from a female perspective.
Jing Gao did not "beat around the bush" with Mr. Jia. He was still a young man in this industry. Comparing himself with the old foxes was asking for trouble. He asked directly: "Mr. Jia, do you want to sell Yidao's equity? I hope you can." Eat them all.”
Mr. Jia turned around and asked the secretary beside him. He is now in charge of LeTV Automobile and has less control in other directions.
"LeTV owns 70% of Yidao. Selling all of it to you is not possible. I hope to maintain a controlling position. The current valuation of Yidao is about US$1.6 billion. I can sell 19% of the shares to you."
Jing Gao smiled, stood up and said, "Mr. Jia, how about we talk later? Let's go here today."
Mr. Jia treats him as a child!
There is no doubt that Yidao is a high-quality asset. He did have the idea of entering. Think about it, if Yidao completes the monopoly of the automobile travel market in his hands, how much hidden "public power" will he have?
(You can know this by looking at Didi’s current status. Although Didi has been scolded miserably in various accidents.)
But how can Yi Yi be worth US$1.6 billion in a state where he is just trying to survive? If that doesn't work, he can contact Uber or China Travel.
"Okay." Mr. Jia is an old man in the world, and business cannot be done without benevolence and righteousness. At noon, I still invited Jing Gao to have a meal and have a good talk.
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According to the original trajectory, LeTV will be revealed to be in arrears with suppliers in September this year, thus unveiling LeTV's crisis.
Under such circumstances, Jobs still found a "white knight" at the beginning of 2017. His fellow Sunac CEO Sun Hongbin invested 15.041 billion to take over the business.
Under the current circumstances, LeTV has indeed not yet entertained the idea of “selling off” its assets and ecosystem.
On Saturday morning, Jing Gao started his and Li Mengwei's vacation trip to Huangshan Mountain.
