After Zhang Yanqi met with Boss Jing in Beijing, she stayed at the Blue Lake Hotel located in the third phase of BJ Fortune Center for two days. During this period, he went to the headquarters of Phoenix Group to visit his superior: An Zhiwen, who is also the chairman and CEO of Taichu Group.
The companies under Jinggao are divided into two parts. First: Phoenix Group; second, Taichu Group.
These two large companies adopt two models respectively. Phoenix Group adopts the model of a major Internet company.
This is the organizational model of large enterprises that is relatively common in the world today: aircraft carrier formation operations! It consists of an aircraft carrier plus various destroyers, submarines, etc. In layman's terms, it means focusing on certain businesses, and other modules and businesses are linked to each other to build a moat to protect and expand the main business.
Eventually, they will evolve into a middle-office organizational model to simplify processes and achieve as flat management as possible.
The Taichu Group uses the management model of the State Council. This is another way to manage assets.
These are two different consortium models. Of course, no one in China dares to call it a consortium. Only xx series.
Netizens who have experienced the chaotic war between major Internet companies should know: Alibaba Group and Tencent Group are called such.
Zhang Yanqi resigned from Uber and transferred to the private equity fund Xuanniao Investment to focus on the domestic investment market. His organizational relationships within the group were naturally transferred to Taichu Group.
Although Xuannio Investment was a private equity company established by Jing Gao, its original intention was to silence some people and relieve pressure. However, with Jing Gao's support, Xuannio Investment's prospects are very promising. What's more, it will be "mixed" into Uber's bonds.
But no matter how his position changes, his superior is still An Zhiwen.
The headquarters of Phoenix Group is still located in the third phase of China World Trade Center. The Phoenix Group headquarters building in Changping is still under construction. The first phase of the project is not expected to be completed until 2021, and it will not be possible to move in until 2022.
After staying in the capital for two days, Zhang Yanqi returned to the Magic City to invest in Xuanniao and take up the post. The news of his resignation from Uber quickly spread throughout the Internet with a public statement from Uber.
Uber is a company listed on Hong Kong Island. Changes in board members of a listed company require an announcement and information disclosure.
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Uber is the core company of Phoenix Group. The resignation of its chairman and CEO instantly attracted the attention of all major companies in the Internet industry.
Such as established Internet companies: Baidu, Alibaba, Tencent, JD.com, etc. The emerging three giants: Douyin, Meituan, and Pinduoduo.
The first to know the news were the major companies that still hold positions on Uber's board of directors.
Uber's board of directors currently has eight members. In the early days, Uber was listed on Hong Kong Island after merging with Didi. At that time, Alibaba, Jinshajiang Investment, and SoftBank also had shares. Among the board members are Jerry Yang, the founder of Yahoo, and representatives from SoftBank, the largest shareholder. After several twists and turns, Uber’s board of directors has now been replaced.
Among them, Alibaba’s Zhang Yong has withdrawn from the board of directors. Their board seat was filled by someone from Baidu at the suggestion of the Phoenix Department. Jing Gao and Li Yanhong have a good personal relationship. Baidu invested in Uber at the time and is still a shareholder of Uber.
SoftBank invested in Didi through the Vision Fund and became the single largest shareholder of Uber after the merger. And they promised early on that they would withdraw from the board of directors after Uber went public.
Jerry Yang, the founder of Yahoo, as the "signature", has also left Uber's board of directors. He has a high status on the Chinese Internet. After all, he is of Chinese descent, and one of Arima's favorite boasts in his early years was that he led Jerry Yang to climb the Great Wall.
However, there is no doubt that Jerry Yang’s influence in the Internet industry is rapidly declining. By 2019, several years have passed since the war between Uber and Didi from 2014 to 2016. He is no longer an Internet hero "respected" by the Internet industry! There is a talented person in this generation!
The current eight seats on Uber’s board of directors are: three seats for Uber management, Apple, Tencent, Weibo, Baidu, and Shen Nanpeng.
Tencent's vice president in Hong Kong reported the news to Tencent's president's office on the same day. Brother Ma quickly arranged a temporary president's office meeting in the afternoon to discuss the situation with the team. Under the current circumstances, the relationship between Phoenix Group and Tencent is a bit bad.
Because Tiangong Games, a subsidiary of the Phoenix Group, has officially announced that it will increase investment and move from computer games to mobile games. We are currently recruiting people in the gaming circles in Beijing. As the dominant player in the domestic gaming industry and a global gaming giant, Tencent naturally received the news.
Second-in-command Liu Chiping smoked a cigarette and said impatiently: "If you ask me, let's just treat Uber's shares as shareholder dividends."
Phoenix Group has actually fallen behind in the first echelon of major Internet companies. In particular, its core member company Uber has been in poor operating conditions in the past two years, with declining profit margins, negative news, and so on.
How can this be worthy of being a rival to Tencent?
Brother Ma sat at the head of the conference room and said nothing.
Chief Financial Officer Luo Shuohan advised: "Mr. Liu, Uber is currently in a bad situation, but their market share in the travel field is still over 90%, and their current valuation is less than US$40 billion. This is underestimated. If we reduce our holdings of Uber’s shares, we will suffer a lot of losses. Uber is preparing to go public, with an expected valuation of US$120 billion, and Uber’s prospects are still promising.”
Zhang Xiaolong, who manages WeChat, was distracted when he heard this and asked casually: "Since Uber is so promising, why is Uber's valuation on the Hong Kong stock market still so low?"
Luo Shuohan laughed, a bit gloating about his misfortune. Explained: "Boss Jing is too strong. He pretends to be cool every time he comes to Hong Kong Island. Isn't Hong Kong Island now building momentum to develop the northern metropolitan area? It is said that he is forcing the four major real estate developers on Hong Kong Island.
Then, in February, he fired an executive director of Bank of New York Mellon in Hong Kong Island. Now European and American capital doesn't like him very much. Therefore, there is no big money that will support his company in the Hong Kong stock market. "
After saying this, the atmosphere in the conference room suddenly became more relaxed.
Brother Ma pushed down his glasses and brought the topic back: "Let's discuss, should we continue to hold shares in Uber, or reduce our holdings? In addition, everyone was very tired from the discussion at the president's office meeting last month, or that? The question is, how to deal with our relationship with Phoenix Group."
Brother Xiao Ma said it very politely, but business war is a game of capital, and its core is very bloody and cruel.
If the Phoenix Group enters Tencent's core field of games, Tencent will definitely stop it! No one will give up the conquered market to others. Tencent’s internal discussion is now about the “degree” of this resistance.
This is the overall strategic direction of the group.
Everyone discussed for a while, and Chief Strategy Officer James Mitchell said: "Since it is beneficial to keep Uber's shares, we should support Uber's development. As for games, we must keep an eye on it. Any move by Tiangong Games must be carried out Interrupt and suppress.”
He doesn't use sophistication as a sophistication, but a calm economic man's thinking.
"Okay, let's settle it then."
