"Lao Zhang, don't blame An Zhiwen for Uber's conservative strategy. Most of these rules and regulations are set by me. In the context of the current game strategy of the five countries and the great changes unseen in a century, we must I won’t go! It’s not just a financial risk, but also a risk to your life.
Forget about the Indian market. The third brother's brain circuit is at the cosmic level, and he can specially formulate laws to punish him. You know that Coolpad was punished some time ago, right? Still in communication now. But there is little hope of solving the problem. Coolpad Mobile is planning to exit the Indian market.
Other markets around the world can be attacked carefully. Especially the Southeast Asian market is one that Uber needs to continue to strengthen. "
Jing Gao did not let Lao An take the blame and spoke truthfully. The chairman and CEO of Uber can be regarded as a powerful official in his business empire, but in Jing Gao's interpersonal relationships, he actually doesn't have many contacts.
He did not have regular dinners or team building meetings with his senior executives. A few years ago, when he was studying at China Europe Business School in Shanghai, he brought senior executives together to form a class.
The main reason is that his business empire is very large and it is impossible to recruit more people at any time. You can only go to one place and meet the executives in the nearby area.
There is another reason. It's not that Uber is unimportant, but that An Zhiwen is in charge from the Phoenix Group down, so he can't manage it too meticulously. Just read the daily report compiled by the assistant office every day to know the general situation of the company under your command. It's too detailed, and he doesn't have enough time and energy.
He wants to taste which fruit is more delicious every now and then. Peach, tangerine or big apple...? Enjoy flower arrangements and prune the gorgeous flowers in the garden from time to time.
The company under his command has many trivial matters. Take Uber, for example. Regardless of how much it cares about its reputation among consumers, Uber and its subsidiaries are now saddled with more than a hundred lawsuits, large and small. This has become the norm for companies.
So Zhang Yanqi didn't know very clearly about many things.
Zhang Yanqi was stunned for a moment. He did not expect Mr. Jing to be so straightforward and directly accept all his accusations. Smiling sarcastically, he calmed down.
Jing Gao took a sip of porridge and pondered slightly. Before Jing Shufeng went to Uber, he also raised three questions about Uber.
It is similar to what Zhang Yanqi said, but it lacks the international perspective and has more KPI assessment and mergers and acquisitions as a means to increase stock prices.
Judging from Zhang Yanqi’s statement, many of Uber’s problems are not that the management team is not aware of them, but that they cannot change them at all. In other words, because it is a listed company, resource investment is limited.
From the looks of it, thirty-three-year-old Zhang Yanqi is quite capable! Of course, the shortcomings are also great. You can see the problem, but if you don't have a solution, you'll blame yourself.
"Lao Zhang, do you know anything about Xuanniao Investment?"
Zhang Yanqi thought about it a few times and said truthfully: "Understand one thing. It is a company separated from Phoenix Fund to specialize in venture capital. Mr. Jing, Phoenix Fund is now independent from Phoenix Group. How should this venture capital company be positioned?"
It turns out that Phoenix Group has two investment departments: Phoenix Group Strategic Investment Department and Phoenix Fund.
In recent years, there has been a saying in the Internet industry called "FAT" wheel. That is, all Internet companies will eventually have to find a major Internet company as a backer. Otherwise, you will lose in the market competition. After the "FAT" round, there will be pre-IPO financing to major investment banks and then listing.
This job is usually done by the Strategic Investment Department of Phoenix Fund. The other early investment is Phoenix Fund.
To put it bluntly, Phoenix Fund is engaged in venture capital, but the rounds it enters are not so early, and they place heavy bets to grab shares. He had long heard that Zuo Hao, the head of the Phoenix Fund, had made a big mistake. Phoenix Fund dominates the domestic venture capital industry, but it ended up losing money!
The old foundation laid by Mr. Jing in defeating venture capital funds such as Sequoia China, Gaoling Capital, and IDG Capital was completely lost.
Because there are big problems with this set of business logic. Venture capital, the risk is very high! It does not mean that if you provide a large amount of capital and resource support, you will eventually be able to successfully go public and get high premium returns.
Many entrepreneurial companies often fail to grow into unicorns!
This is why whenever a unicorn company appears on the market, it will be enthusiastically sought after. Things are rare and valuable!
Jing Gao took a leisurely sip of tea and corrected: "Xuanniao Investment and Phoenix Fund are currently two separate companies. Xuanniao Investment is positioned as a private equity fund. In other words, Xuanniao Investment's business scope is not entirely in venture capital. There will also be operations such as equity and film and television investment. Funding sources will be more diversified, and rules and regulations will be more standardized."
Phoenix Fund was an investment company he founded, and it did not operate according to the private equity fund model. The source of funds is his own unlimited card and various companies under it. And because Phoenix Fund holds bonds and equity in other companies under his command. Today it is increasingly becoming an important company under his umbrella.
Through (Guo) Siyue's guidance, he gradually hid his net worth. Currently, his publicly available assets are approximately US$5 billion. One of the important means is cross-holding.
And Phoenix Fund is an important part of his various cross-holdings! This is also the reason why those people wanted him to turn Phoenix Fund into private equity. Some of the data are secrets at the heart of his business empire. This cannot be made public.
This is why Siyue and Xiaoqian suggested that he must separate Xuanniao Investment and Phoenix Fund. Phoenix Fund is absolutely not allowed to be involved in anything involving Xuanniao Investment, so that all kinds of key data will be made public.
As a private equity firm, Xuannio Investment plans to target top private equity firms like Sequoia China.
Funding sources are diverse. Not only domestic funds, but also overseas funds will be accepted. At the same time, the business includes: FOF, PE, mergers and acquisitions, private placement, bonds, S and other businesses.
For example, Sequoia China has issued multiple funds, which are not only involved in private equity investment (PE), but also traditional venture capital funds. It is also involved in multiple industries and various investment models, such as film and television funds.
Shen Nanpeng can now be regarded as a capital boss in the film and television industry.
Some time ago in the entertainment industry, some celebrities liked to use their own film and television companies to engage in mergers and acquisitions. Or use movies to drive up a company's stock price. As the saying goes, the money of the wealthy gentry is returned in full, and the money of the common people is divided into 30 and 70 parts.
Shen Nanpeng belongs to the "tycoon" level. His film and television fund is huge. It also requires some investment. Who is stupid enough to invest in film and television works nowadays? They are all financial methods to ensure that you do not lose money.
The positioning of Xuanniao Investment is destined to involve a lot of people and things, so it is best not to have anything to do with Phoenix Fund to avoid being associated.
Originally, Jing Gao meant to let Zuo Hao take charge of Xuannio Investment, but Zuo Hao was too embarrassed to stay under the Phoenix Group's system any longer and had resigned. Yin Jian, the newly appointed head of Phoenix Fund, is currently busy straightening out the various businesses of Phoenix Fund, which has moved its headquarters to Shanghai. Xuanniao really doesn't care about investment.
Jing Gao had to find a helmsman for Xuanniao Investment.
Zhang Yanqi thought about it and ate her morning tea without making a statement immediately.
Jing Gao sipped his porridge comfortably and said his arrangement: "Xuanniao Investment is still being established, and suitable employees can be transferred from Phoenix Fund. The office location, Yin Jian's side, is arranged in the Magic City Center Building in Lujiazui.
The company should have some funds on its books. In this way, I will first give you US$200 million to undertake the bonds that Uber is about to issue. You will serve as an independent director of Uber and continue to provide advice to Uber. "
One of the purposes of his arrangement is to promote the development of Uber, but Uber’s equity is currently quite complicated. It is not easy to invest more. Funding can only be provided through a bond issuance by Uber.
On the other hand, he felt that Zhang Yanqi’s observation skills were insufficient, so he relied on Lao Zhang’s observation skills to see if there were any other problems with Uber.
As for whether Xuanniao Investment can develop, this is not a particularly important thing. Just a scrap addition. He needs a company to open up the investment quota and let those guys who are jealous of the high returns he can get in the domestic market invest in.
Of course, at this moment, Jing Gao could not predict how brilliant Xuanniao Investment would develop in the future.
Zhang Yanqi hesitated for a moment, did this mean he was asked to supervise Uber? The emperor's balancing act? He sighed in his heart and said, "Okay, Mr. Jing, I will do my best."
(End of chapter)
