Reinventing the Millennium.

On June 6th, Ali's Taobao promotion.

On this day, Fang Zhuo led the Yike team to the capital in a low-key manner to meet with the founder and management team of AutoNavi.

The last time the company failed to negotiate, he still learned from his experience and lessons. He also tried his best to fight the rabbit. This kind of company that fits the YMS ecology should still pay more attention to it, and show its sincerity no matter what.

The field of graphic merchants is quite special.

Because it involves map data collection, the company needs qualifications, and AutoNavi is currently the only private enterprise with Class A surveying and mapping qualifications.

Like its competitor NavInfo, this is a regular army in the surveying and mapping industry with an administrative background. The major shareholder is the NavInfo Technology Corporation established by the State Bureau of Surveying and Mapping, which is a wholly-owned subsidiary of Huaxia Satellite Communications Group—well, you can’t mess around .

NavInfo provides basic data for several map vendors in the market today.

Such a field has its industry threshold and technical barriers.

In addition, map is a relatively rare rigid-demand application among tool products. If the market is occupied, it is occupied, and more funds and resources need to be invested to compete again.

Of course, for an independent map merchant like AutoNavi, making maps is just making maps, but for the current Internet giants, such a large amount of data, natural entrances, online and offline interconnections, etc. It is a comprehensive consideration of interests.

Fang Zhuo wants AutoNavi this time, the biggest purpose is naturally to fill the YMS ecosystem, and the second is to value the linkage of business, big data, cloud computing, this is a business that can be tried in the near future.

In the longer term, the packaging business from car chips to car navigation is a good direction. In car navigation, AutoNavi has provided navigation data products and Serve.

It's just that such a packaged business may not work just because of the cooperation after this investment.

After all, there are two companies in the shareholding, and there may be differences in decision-making and voice.

Fortunately, there is no rush now. Fortunately, Baidu and Penguin are also engaged in the map business. The follow-up investment of these two companies in the map business cannot be handled by AutoNavi alone.

Yike now occupies a shareholder position on AutoNavi and promotes the vigorous transformation of the company. Naturally, competition will collide and cooperation will naturally be increased, so as to finally resolve the differences in decision-making and discourse power.

Two companies must have two voices, but if only one company has one voice, wouldn't the problem be solved?

Competition burns money and expands the scale, and the management can cash out at a high position and leave.

Yike took over, and the income was in the bag, and its own ecology and related businesses were more complete.

Even the company is listed in the United States, and the risk of stock price fluctuations lies there.

Is there a more perfect collaboration than this?
Fang Zhuo felt that this was in line with his philosophy of pursuing multiple wins.

Of course, respecting each other's independent operations at this stage is also true respect.

If AutoNavi insists on not being willing to transform into the C-end market, then let it go and really respect it to the end.

"Hahaha, Mr. Fang is here, we will not be afraid of Gaode's transformation."

At noon on the 18th, at the luncheon between Yi Ke and AutoNavi, Cheng Congwu, President of AutoNavi, raised his glass and toasted Mr. Fang with a smile.

Fang Zhuo said with a big mouthful of face, and said with a smile: "Where is it, I am here to play the side drum for Gaode. In terms of business development, Gaode is professional and is second to none in the industry."

He put down his wine glass, and pondered again: "We will be our own people in the future, and I will not hide it. I really don't know the way of the map business. From the perspective of company development, any transformation must be cautious. It’s easy to get to today, and we need to be more cautious.”

Fang Zhuo said this sincerely.

Cheng Congwu also represented the management of AutoNavi, and said more sincerely: "Mr. Fang, AutoNavi needs transformation. What we are talking about now is not whether to transform, but how to transform. On this point, we very much hope that we can work together with Yike. Discuss."

Fang Zhuo let out a "hmm", in that case, then... have a drink.

At the luncheon, the faces were full of joy and happiness, and the two parties enjoyed each other happily.

However, after eating and drinking, we still have to talk about things seriously, how much Yike gave AutoNavi, how to invest, whether to have a seat on the board of directors... All kinds of details are the key to spying on Yike and Mr. Fang's thoughts for AutoNavi.

And then... It was even more late to meet each other.

Yike has repeatedly stated that it respects the independent operation of AutoNavi and does not need a board seat.

At the same time, Yike is willing to provide YMS promotion resources and technical support to help AutoNavi with the application and transformation of the mobile terminal.

And, Yike gave a valuation of 8 million US dollars, and is willing to invest 1-1.2 million US dollars to become the first institutional shareholder of AutoNavi.

When Yike Investment Director Tao Xinglei spit out this valuation figure, the entire conference room was silent.

According to the previous docking with Goldman Sachs, if AutoNavi can be listed in the United States this year, the value range of the US stock market will be about 6-8 million US dollars, and now Yike directly gives the valuation to the top.

"This, this..." Cheng Congwu didn't know what to say for a while.

"We are quite sincere in the valuation of AutoNavi." Tao Xinglei was a little dissatisfied, and the other party must have been too greedy. Compared with the last time, the valuation has been greatly increased under Mr. Fang's intervention.

"We have seen Yi Ke's...sincerity." Cheng Congwu is a good drinker. Although he drank a lot at noon, he was still very sober. He was frightened by Yi Ke's sincerity, "So, Mr. Tao, we need to discuss internally Down."

The Yike team left the conference room.

The focus of the discussion within AutoNavi is not other things, but the weakening of the management's equity and the real intention of Yike this time.

Calculated by accepting an investment of 1 million U.S. dollars, Yike holds 12.5% ​​of the shares, which just exceeds the 10.5% of the current first institutional shareholder MSD, and the entire management's shareholding will be reduced from 64.1% to 56.09%.

If the previous listing plan is continued, the management's shareholding after the IPO will continue to be reduced from 56.09% to 46.55%.

Cheng Congwu and Hou Jun are somewhat sensitive to this ratio.

"Why don't we ask for less money?" Vice President Gao De also felt that Yike was too generous this time. It's not that he didn't have financing experience before, and it was all you came and went. How could he speak like this?

When Cheng Congwu and Hou Jun heard this, they looked at each other and found a tacit understanding again.

"People think highly of you and are willing to pay, but you don't even dare to take money, what are you doing!" Cheng Congwu criticized.

The vice president feels aggrieved, if you dare to take it, what is this discussion about?

Cheng Congwu took a breath, and still consulted the chairman: "Old Hou, what do you say?"

"It's not that we dare not take money, but do we need so much money now? There will be an IPO next." Hou Jun said calmly, "Actually, the amount of money is not important, the most important thing is the cooperation between the two companies. What do you say?"

Cheng Congwu gave a thumbs up: "Old Hou, it still has to be you. I can't hold back. The IPO raised at least 1 million US dollars. The tens of millions of this investment is enough for our transformation."

As the president of Gaode, although he is inclined to cooperate, he also wants to become the president of a listed company. Although Yi Ke is good, he must have a degree.

The chairman and the president set the tone, and after several discussions on the investment amount, it became 8500 million US dollars, and the subsequent IPO will also be adjusted according to a reassuring ratio.

Half an hour later, this time it was Yike's team who looked at each other in blank dismay.

$0.85 million? 10.6%?

It will also lag behind the 10.7% of MSD, the largest shareholder of the current institution.

No, what is your Gaode map?Don't want real money?

Tao Xinglei couldn't help asking why.

"Mr. Tao, AutoNavi is developing well. The willingness to cooperate this time is not because of Yike's funds, but because of your resources." Cheng Congwu explained seriously.

Tao Xinglei looked at the person opposite, okay.

As the person in charge of specific investment affairs, anyway, this time we want to reach a cooperation, and it’s okay to take less shares. This is the principle from Mr. Fang.

Tao Xinglei held back the weirdness in his heart and continued to push forward the details of the cooperation.

The general conditions for valuation and shareholding are determined, and everything else is easy to discuss.

After such an afternoon, both sides are close to satisfaction.

There will still be a dinner in the evening, but this time it will be Fang Zhuo as the host.

Because he drank a lot at noon, Fang Zhuo did not attend the negotiation in the afternoon.

By the time the management of AutoNavi summed up the content of the afternoon after the meeting and rushed to the dinner, many guests had already arrived.

When Hou Jun walked into the banquet hall, he immediately saw Mr. Fang and the people around him—all of them were quite familiar.

He took a rough look and found that they were all the institutional shareholders of AutoNavi, here they are!

Sequoia Shen Nanpeng, Walden International Chen Liwu, MSD Wan Debo, Kleiner Perkins and Zhou Wei...

Everyone was chatting and laughing happily, and Mr. Fang sat in the middle.

Hou Jun felt emotion in his heart, Zhen Yike is the master.

When he got close, he heard several people chatting.

"Taobao's June [-] promotion this year is definitely going to hit tens of billions. Think about it, what name is this? It will save a lot of trouble in publicity."

"Tsk, Taobao has indeed leveraged countless offline small and medium-sized merchants. It's no wonder that so many people go up to pan for gold, and the rise is too fierce! 100 billion, it's still fast to be a platform!"

"Mr. Fang, what is the goal of e-buy in the second half of this year? The stimulus of home appliances going to the countryside is quite long-term. Ten billion is more difficult, and the revenue of 70 billion can be rushed, right?"

It's rare to see Mr. Fang like this. The investors are quite active, and what they are talking about is not today's AutoNavi, but the scale of funds that can easily reach tens of billions.

Hou Jun heard such a capital figure that would make people lose their minds, and suddenly felt his head buzzing.
"It's difficult, you put it lightly. Last year was the double stimulation of home appliances going to the countryside and the Olympics. The growth rate of e-buy this year will not be so high." Fang Zhuo nodded at Hou Jun first, and continued to say with a smile, "Taobao is I am envious of the strongest e-commerce company in China."

When the richest man in the mainland said this, Hou Jun heard the voice of a bunch of flowers.

These people really don't look like shareholders of Gaode, they really look like shareholders of Yike!

The man should be so!
Hou Jun remembered what his old friend said in the afternoon again - "People think highly of you and are willing to pay, but you dare not even take money..."

"Mr. Hou, sit down, sit down quickly, I'm too drunk, I slept a little longer in the afternoon." Fang Zhuo invited Chairman Gao De to sit down, and explained the situation face to face again, "When I sober up, the US side called again, It's time for me to chat."

Hou Jun quickly waved his hand: "It's okay, Mr. Fang, I'm also happy at noon, everyone drank a lot."

"I can't drink enough." Fang Zhuo said with a smile, "I heard from Tao Xinglei in the evening that the afternoon went well. I always thought that Gaode's major and Yike YMS were a match made in heaven. It's a false trip."

He doesn't mind the amount of investment and shareholding this time, as long as he pushes the roller down the slope, he will naturally move forward.

Fang Zhuo said politely: "It seems that AutoNavi took a little less funds this time, so it should be enough for the subsequent transformation, right?"

Unexpectedly, Hou Jun didn't answer when he heard this. After pondering for a while, he asked an unexpected rhetorical question: "Mr. Fang, we are not very good at evaluating the follow-up development. Do you think it is enough?"

Fang Zhuo raised his eyebrows slightly, thinking about what these words meant.

Tao Xinglei, investment director of Yike, and Cheng Congwu, president of AutoNavi, were stunned when they heard this. What's going on?Isn't it basically settled?
Especially Cheng Congwu, he looked at his old friend and didn't understand why he said this at this time.

"Funds...I haven't made a map yet, so it's hard to say if it's enough or not." Fang Zhuo changed his mind a bit and continued, "But I have an experience in running a business, that is, when the company is doing well, it takes more money. , Once the situation is not good, it will be difficult to get money.”

He spread his hands: "The more abundant the company's cash flow, the more willing the bank is to give money. When the company encounters difficulties, don't talk about giving money. If you don't take a loan, you have to ask grandpa to sue grandma. We still have to think ahead in running a business. We can't see it in the long run. Clearly, the short-term is positive, so we have to make good use of this 'short-term' advantage."

Shen Nanpeng said with a smile: "Mr. Fang is sincere."

Hou Jun looked at Mr. Fang, glanced at the shareholders around him from the corner of his eye, and took the initiative to attack: "Mr. Fang, AutoNavi still needs funds for its transformation. I think 1.2 million is a relatively large number."

"Okay, no problem." Fang Zhuo didn't even bat an eye, "Mr. Hou has the ambition to transform, so let's respect this ambition with the first glass of wine. Come, I'll pour you a drink for Mr. Hou."

The richest man in the mainland is quite straightforward.

But Shen Nanpeng reached out for the wine in time and filled both of their glasses.

The main course has not been served yet, and the drinks are all full.

Gao De's president, Cheng Congwu, was astonished, he resisted and had a glass of wine with him.

He put down his wine glass, and after a second thought, 8000 million is taken, and 1.2 million is also taken. What's the difference between a little more and a little less?What kind of big business is Fang always talking about?This time you don't even want a seat on the board of directors, so what else?

The first glass of wine was drained, and the second glass was filled again.

Fang Zhuo raised his wine glass and said with emotion: "The era of mobile Internet is coming. This is an era of opportunities everywhere. Today, there are Mr. Hou and Mr. Cheng, and there are friends who invest. We must grasp the opportunity."

He still looked at Hou Jun, and said with a smile: "Mr. Hou, I'll toast you again. From now on, our two families will be an alliance of blood and love forever. I'll do it."

Hou Jun raised his neck and drank it all, okay, it's done, blood is an alliance, and we will be friends forever.

Today, with Mr. Fang's blood alliance, Gao De and Yi Ke will be friends forever!