The evening breeze blows gently on the Huangpu River. Everyone at the Phoenix Fund on the night tour was in high spirits. At this time, Didi’s president Liu Qing was also calling his cousin Liu Zhen.
How could Didi not pay attention to such a big thing caused by Uber? Since Liu Qing had this kind of connection, he naturally wanted to inquire about it.
Liu Qing was on the phone in the study room of her villa. After a few pleasantries, she asked: "Jen, your Uber strategy is very strange. Phoenix Fund is so strong, why not invest in it? Instead, it is a direct acquisition. "
At the morning press conference, Qiao Shuang, president of Phoenix Fund, disclosed the details of the acquisition. Phoenix Fund invested US$7.2 billion to acquire 80% of Uber China's shares and renamed the company Uber.
At the same time, Phoenix Fund will also invest US$1 billion to acquire 1.47% of Uber's shares. mutual holdings.
Cross-shareholdings are a common pattern in business. This is a reflection of the willingness of both parties to cooperate strategically.
Liu Zhen said calmly: "Jean, since Phoenix Fund has such strength and is optimistic about the travel field, and Mr. Kalanick of Uber wants to withdraw from the Chinese market, acquisition is normal."
In fact, there is a red line in the field of venture capital: it is best not for any major shareholder to hold more than 30% of the shares. Beyond this line, unless it is a particularly outstanding unicorn, no venture capital will continue to invest money.
Because the most delicious piece of the cake has already been eaten.
Uber China has this shortcoming. For example, after five or six rounds of financing for Didi, Tencent, the largest shareholder, only holds a little more than 10% of the shares. Uber China’s controlling shareholder Uber holds 88.5% of the shares.
Therefore, Uber can only invest money to support his son. In addition, it is currently expanding globally. For example, it is also facing competition from Lyft in North America. So Kalanick started to think about quitting after Apple invested in Didi.
Liu Qing chuckled, "Jen, it seems that the market rumors are true. Your Uber management knows nothing about the acquisition news!"
Liu Zhen said expressionlessly: "Jean, if you are calling to say something to ridicule me, then you can hang up."
Liu Qing laughed, "That's not true. Uber is Didi's biggest rival right now. If I disrespect you, I disrespect myself. When will the Phoenix Fund take over Uber?"
Liu Zhen pondered for a few seconds and replied: "Tomorrow afternoon. Jean, I'm looking forward to the start of our second contest."
The good media has long written in the news: The competition between Uber and Didi in the field of shared travel is the competition between a pair of "genius sisters".
In the list of the world's 25 geniuses released by the American "Wired" magazine in April, Liu Qing and Liu Zhen were both selected.
Liu Qing sneered in her heart and said: "Jen, if I were you, I would choose to resign. As the head of strategy at Uber, he doesn't even know about the equity changes, so how can he lead the fight?
Also, I don’t think this is the start of our second fight. Phoenix Fund may have deep pockets. But the power of your shareholders is too weak. If the subsidy war continues, all venture capital in China will not agree.
Next, there is just a state of anxiety, and then a new round of merger talks. We are just trying to get as much negotiating leverage as possible. "
Although the outside world compares her with her cousin, she actually knows very well that her cousin has no control over Uber China’s affairs. Uber China’s regional managers report directly to Kalanick.
Her cousin is only responsible for government and media public relations. In the eyes of the outside world, Liu Zhen is the spokesperson of Uber China. But everyone in the circle knows the inside story. Liu Zhen is far from her position in Didi.
She deliberately raised her cousin to the same height as herself, but it was just a superficial courtesy.
Liu Zhen suddenly smiled and said: "Jean, then I will not resign. That's it, goodbye."
After hanging up the phone, Liu Zhen walked to the balcony of her room and stared at the Huangpu River. According to her previous schedule, she is currently communicating with Uber headquarters and reporting on her work. Today I have some free time.
Although Liu Qing's phone call was both a gun and a stick, it did put a thorn in her heart. She should probably consider leaving her job.
First, she has been back to China for more than a year. Her uncle is recognized as the godfather and unwavering leader of the Chinese business community. She still understands the power of Didi’s shareholders behind him. If Phoenix Fund just has a lot of money, it will definitely not be able to withstand the pressure of mergers.
If Alibaba's Jack Ma and Tencent's Pony Ma work together to promote a merger, how many technology companies in China can refuse?
There is a high probability that none will be found.
Second, she was really unhappy. They, the pioneers of Uber, rely on their ideals, mission, and culture to come together, not on shares. So it’s okay not to give them shares, but not give them the minimum respect?
What's the point of staying?
As for Phoenix Fund’s plans, who knows what’s going on? It is too normal for her to be ignored as an iconic figure of Uber China. Who doesn’t understand the connotation of being a co-CEO?
…
…
On the morning of the next day, Jing Gao was eating breakfast in the dining room of Room 3102 of Baijinwan Mansion, reading the newspaper sent by Guan Yujia.
All are news reporting Phoenix Fund’s acquisition of Uber. And what Xiao Qiao said, "9 billion US dollars is just a small business."
Of course, the newspapers are full of positive reports. Phoenix Fund held a press conference yesterday to provide "travel expenses".
"Hey, when did the relationship between you two get so good?" Jing Gao put down the newspaper and asked funnyly when he saw Yan Ting and Guan Yujia chatting quietly together and drinking soy milk.
Yan Ting's elegant smile, her almond-shaped eyes and lips, "You don't understand women's friendship. Guan Guan and I can talk pretty well."
Guan Yujia said shyly: "Mr. Jing, when you went to the yacht yesterday to answer the phone, Sister Yan and I talked a lot." Only then did she know why Sister Yan would follow Mr. Jing without any status in such a good condition.
Mr. Jing was so angry that he didn't want to ask for tens of millions. Sister Yan was still filled with sweetness and gratitude when she mentioned it last night.
Jing Gao remembered what happened when he answered the phone last night. When his relationship with Weiwei was in full swing, she returned to her hometown for the summer vacation. While chatting on the phone about the night view of the Huangpu River, the topic naturally expanded and they agreed that when she returned to Beijing, he would pick her up at the station.
Shaking his head with a smile, Jing Gao ate the soup dumplings. The soup dumplings in Modu are still very famous, with thin skin and thick soup.
While eating, Jing Gao's phone suddenly rang. Jing Gao answered the phone and heard Ouyang Wan's charming voice, "Good morning, Mr. Jing."
"morning."
Ouyang Wan is a good person in social circles and went straight to the topic, "Mr. Jing, I just heard the news. Uber's executives have doubts about Phoenix Fund and are not optimistic about your ability to compete with Didi's shareholder power. Prepare to resign. When you go to take over the company in the afternoon, you have to make some preparations. People like Uber can compete with Didi, and many of them are talented people."
She is in Shanghai and has a clear view of the competition between Uber and Didi. Uber’s employees and strategies are all in line with Xiaoling Kuai’s style, and it will not lag behind in competing with Didi. The only difference is money. And this is exactly the strength of Phoenix Fund.
Jing Gao knew it well and said, "Ms. Ouyang, thank you."
As a powerful person, he entered the business field not to make money, but to expand his influence.
To use the simplest analogy, suppose he wants to build a villa in his hometown of Haizhou to experience life in nature. Can he quietly get the land as a god? It is essential to do it up and down.
So, if he is the boss of a well-known domestic company and returns to his hometown to invest in the tourism industry, will it be easy?
If you want to be a powerful person and live a healthy life, social influence is indispensable.
Therefore, he hopes that Uber can be the number one in the travel field!
