Zhang Yanqi is the general manager of the West and North Regions of Uber (China). He ranked first in order volume in both Beijing and Rongcheng. Especially in Chengdu, Uber has a huge advantage here.
Employees of Uber (China) Chengdu Company are even more enthusiastic about the acquisition by Phoenix Fund.
In the conference room of the Rongcheng branch, more than a dozen senior executives from the West District were present. Video conferencing is not yet connected.
"Mr. Zhang, Phoenix Fund has spent 8.2 billion US dollars in one go. How much money does he have left to invest? Our subsidy war with Didi is in progress. Don't let it run out of ammunition. It's better not to acquire it."
"I think the headquarters abandoned us. We were fighting Didi on the front line, and the rear simply surrendered."
"Yes. Isn't there a rumor that before the acquisition by Phoenix Fund, Uber was discussing a merger with Didi."
Zhang Yanqi waved her hand and said, "Stop talking. Just connect to the video!"
All communication within Uber is in English. The employees are all very young, basically under 33 years old. Moreover, a large number of managers have been to Uber’s headquarters in Silicon Valley. Including him. Emotionally, they do feel abandoned by headquarters.
When the little-known Phoenix Fund took over Uber (China), it was really difficult for them to have the confidence to continue fighting against Didi.
…
…
At about two o'clock in the afternoon, Jinggao and a dozen people arrived at Uber's headquarters in Shanghai.
Liu Zhen's assistant was waiting at the door of the company, "Mr. Jing, Mr. Qiao, the conference room is ready. Please come this way."
"Well, let's go."
In the conference room, a total of more than a dozen Uber executives in Shanghai stood up. Jing Gao walked to the conference room without hesitation and sat down in front of the camera.
Everyone took their seats. The large conference room suddenly seemed a little crowded. The signal for the video conference came in early. Uber’s teams from all over the country are on board.
Jing Gao glanced around and said: "Let's have a meeting. First, let me announce something. Phoenix Fund holds 80% of the shares of Uber (China), and I have decided to award 5% of the shares to everyone in the company. The distribution method Formulated according to the contribution of all the company’s owners…”
"Bah bang bang!"
Before Jing Gao finished speaking, someone suddenly applauded from somewhere in the venue. Then everyone applauded.
The applause was thunderous.
Uber (China) is valued at US$7 billion. A 5% equity stake is worth $350 million. Converted into RMB, it is 2.324 billion yuan. Not to mention that the stock price will increase in the future! What if it goes public?
Who doesn’t like a boss who gives out money? Anyone who wants to resign should do so immediately. I won’t go anyway!
Although the four Uber executives Liu Zhen, Zhang Yanqi, Wang Ying, and Luo Gang were not in the same place, all the thoughts in their hearts were instantly cleared. Mr. Jing, this is called one force bringing down ten wisdoms. Even if they leave, I'm afraid the team below won't follow them.
Will any of them leave?
Based on their contribution to the company, they can receive at least US$20 million in rewards from this equity pool. Who is sick in the brain?
Jing Gao waited for a while, took the water glass from Guan Yujia, took a sip of water, and made a downward gesture: "I know everyone is excited. I am also very happy to share the company's information with the Uber (China) team. Development results…”
Jing Gao spoke for about an hour, explaining the equity distribution plan clearly, and then announced the adjournment of the meeting, "Mr. Liu will stay for a moment."
The conference room quickly vacated. Uber’s internal group exploded. Everyone is willing to discuss this news about equity awards. Mr. Jing just made it clear that all current regular employees will receive equity rewards.
Liu Zhen was not a beauty. She was wearing casual clothes in the workplace and sat on the seat in front of the high side of the well. She felt unspeakable in her heart.
She was interviewed by a reporter from the Economic Daily and was very disdainful when asked about Phoenix Fund's intention to acquire Uber China. Where did this unknown person come from? When the news hit her yesterday that she had been acquired, she was still disappointed and wanted to resign.
What now?
Liu Zhen sighed inwardly. Her most real thought now is to leave a good impression in front of her new boss.
Qiao Shuang and Guan Yujia were left with Jing Gao. Jing Gao introduced: "Mr. Liu, this is Qiao Shuang, the chairman of Uber (China). From now on, she will be responsible for the daily affairs of Uber (China). This is my assistant Guan Yujia."
"Hello, Mr. Qiao. Hello, Assistant Guan." Liu Zhen stood up and said hello, "I'd like to ask for your advice in the future."
Qiao Shuang suddenly had to take charge of a US$7 billion company and was facing fierce competition in the industry. To be honest, she had no idea. Can she not know what level she is at? He said politely: "Mr. Liu, I will rely on you more for future work."
Guan Yujia stood up shyly and said, "Mr. Liu, hello."
After they got to know each other a little, Jing Gao said: "Now is the running-in period. I will stay in the Magic City for a while. There are a few things that you need to do now, Mr. Liu."
"Okay." Liu Zhen showed the qualities of a good professional manager, took out his notebook and prepared to record.
Jing Gao talked about three points in total. First, the financial department, human resources, data security and other departments will be directly led by Chairman Qiao Shuang. At the same time, all internal communication was replaced by zoo software. Office software remains the same.
Second, Liu Zhen continues to be responsible for Uber (China)’s government and media public relations. So, she arranged to convene a meeting with executives from all regions of Uber. The topic is to discuss equity incentive plans and how to compete with Didi.
Third, please ask Liu Zhen to put forward the areas that Uber (China) currently needs to improve from her personal perspective.
Liu Zhendao: "Mr. Jing, Uber's current problems. First, the most important one is the lack of funds. Second, there are still problems with the user experience of the software. It needs to be modified, otherwise it will be difficult to do better than Didi. Third, , our map is a Baidu map, which is not accurate enough. Fourth, Didi has connected to the taxi service, and we still have internal disputes about whether to connect.”
Jing Gao said: "I will solve the funding problem." Injecting funds is very simple. He will ask the newly acquired Dayou Bank on Hong Kong Island to subscribe for 5% of Uber (China) shares and inject US$450 million.
Next, let’s see how much state capital Wang Shitou can help him attract?
After the chat, Qiao Shuang led the Phoenix Fund team to stay at Uber (China) to work and start handover and running-in. She has now officially resigned as Jing Gao's assistant, and Guan Yujia has taken over.
Three days later, Jing Gao had just finished the video conference when he received a call from Wang Shitou, "Mr. Jing, do you have time to come to Shencheng for a meal recently? Let me introduce you to a few friends."
Jing Gao smiled and said, "Okay."
Wang Shitou smiled and said: "That's OK. You inform me when you confirm the itinerary. I will send someone to pick you up at the airport. In addition, you can call Mr. Xie from Xia Shang Real Estate. I will introduce Yu Liang to him and let them know the specific cooperation. Let’s talk.”
"good."
