Ordinary Road 2010

"If you don't believe in evil and think it's because the scope of expansion is not enough, then you can open a few more cities, and I promise to accompany you to the end."

"But it's not interesting to play like that."

"Let's put it bluntly, everyone earns a share of hard money. If you think your share is less, it doesn't mean that mine is more profitable."

Wang Xing did not comment on his remarks, but only asked: "Then according to your opinion, how do you want me to deal with it?"

Lin Yi replied: "What I mean is, everyone should not make things difficult for each other. Well water does not interfere with river water. From now on, everyone will guard their borders and live in peace."

"Every group has no boundaries. This sentence sounds very scary to colleagues."

"Let me give you a piece of advice for free. Not only should each group have boundaries, but any company should have boundaries, and Wanli Travel is no exception."

"You have time to covet our taxi-hailing business, why not think about how to improve your one-acre three-point land, especially the treatment of millions of riders."

Wang Xing has some understanding of Lin Yi's views, not only through his previous friendship.

Action is the best explanation.

Wanli Travel has been doing subtraction instead of addition after merging tuk-tuk taxis. It is completely two extremes with each group's four-sided attack.

Wang Xing gave his own answer: "I guarantee that every taxi-hailing business will only stay in Jianye and will not appear in any other cities."

This does not mean that he accepted Lin Yi's proposition.

Lin Yi knew that this guy was suffocating, and the reason why he wanted to keep the business designated by Jianye to make ends meet was to keep a seed.

In case one day Wanli Travel overturns like the previous tuk-tuk taxi, he can tear up this agreement at any time and quickly make a comeback.

However, Lin Yi still accepted it, and promised not to trouble Wang Xing again.

Later, when other partners asked about the verbal "Mutual Nonaggression Contract", Lin Yi said:

"Even if we force each group to completely cancel the taxi-hailing team, they can still step over the boundary at any time in the future, and it won't even cost much."

"But the presence of each regiment in Jianye actually reminds each of us that we are only one accident away from an existential crisis."

"We'd better always remember what happened to the tuk-tuk car, and then instead of praying to the gods and Buddhas that it won't happen to us, we should think about how we can do better."

Chapter 591

Lin Yi and Wang Xing's "Non-Aggression Treaty" is not much more effective than toilet paper, and neither of them will let their guard down because of this.

However, the timely closing of each group is a great relief to investors, because it avoids an unnecessary competition for burning money.

They were very satisfied with Lin Yi's handling this time. They didn't pay any price, and relied on their strength to keep every group of this vicious dog away.

Taking advantage of this enthusiasm, Lin Yi thought about doing one of the things in the plan.

"When Wanli Chuxing merged with Tudu Taxi, I promised to raise the valuation in the next round of financing."

"Half a year has passed since that time, and the relationship with investors is also good. I think it's time to fulfill this promise."

"In addition, there is one more thing that the few of us are clear about. If there is no accident, this should be the last round of financing before Wanli Travel goes public."

If the merger is not considered, this should be Wanli Travel's F round of financing, but the company's current status is usually referred to as the Pre-IPO round.

The reason why this round is special is that when a start-up company considers listing at this stage, generally speaking, its business scale and market share have reached a certain level, which means that it is the winner of the industry competition.

There is usually a price difference between the primary market and the secondary market, which means that the market value after listing is generally expected to rise even higher.

Therefore, the Pre-IPO round is an opportunity with less risk and relatively strong return certainty.

This is a sweet pastry. Lin Yi invested in the Ningwang era before, and it was a bit of a meaning. It is actually a way of life to give it to anyone or not.

Of course, there are also many unspoken rules. Some very energetic people like to play the autumn wind at this stage.

Lin Yi is not afraid of that, although everyone now thinks that he is going to the United States for listing, in fact his goal is the Hong Kong City Stock Exchange.

Choosing the United States may have an advantage in valuation in the short term, and the listing conditions are more relaxed, but there will be a lot of trouble in the future.

Of course, Lin Yi would not step on other people's tricks again.

"The company is actually not short of money. After merging with Dudu, the subsidy expenditure has been greatly reduced, and it has been completely cancelled by the end of last year."

"Afterwards, the performance has entered a relatively stable and uniform development stage, and the main business has basically achieved a break-even balance, and is thinking about the goal of making a profit for the whole year."

"You have cut off the unprofitable businesses, and now the money is spent on the investment in shared bicycles, as well as the investment in car manufacturing and autonomous driving in cooperation with Xiong Factory."

"From the perspective of the book, the company does not have much financing needs, at least not urgently."

Of course, it was CFO Liu Jianni who discussed this matter with Lin Yi, but this does not mean that she disapproves of this financing, because she then asked:

“Besides valuation, what are you trying to achieve with this round?”

Lin Yi said: "Although our new business has not yet reached the stage of large-scale investment, it doesn't hurt to hold a little more cash reserves. We can't wait until we really spend the money before asking for money."

"The other is to balance the relationship between various shareholders and try to meet their requirements."

The shareholder meeting of Wanli Travel may be called the most complex in the industry, gathering the three great beasts of BAT and a large number of well-known venture capital institutions.

However, the situation in this round is a little simpler than Lin Yi expected, because everyone's enthusiasm for subscription is not enthusiastic.

Liu Jianni reported two reasons.

“One is that the valuation we are looking for this time is relatively high, reaching US$500 billion before the investment, and this amount is already more than that of Uber in the United States.”

"External investors have expressed dissatisfaction, thinking that we have been integrating the mainland market for about half a year, but we have not continued to make progress and cannot support this valuation."

"But the investors in the previous rounds are satisfied, because the last round has already seen an increase of about 50%, and their income is considerable."

"The second is that the company's current financial situation is good. Most investors expect that we will be able to achieve profitability this year. If this is the case, they will not be willing to follow suit."

Lin Yi didn't feel regretful, he set the conditions higher, and originally wanted to block some of them, but in fact his main intended investor was only one.

"What does Masayoshi Son say?"

"Softbank also thinks our valuation is relatively high, and we are still negotiating, but I think the other party may approve it, because they want to invest a large sum."

Lin Yi promised Sun Zhengyi before that after the completion of the Vision Fund, he will be given another chance to increase his holdings, but of course it cannot be too cheap.

The final result did not disappoint him, and Softbank finally agreed.

They put in $50 billion.

In this way, the amount of this round is already very large, and other investors did not follow the investment, because it would be dwarfed by the small number of shots, so they simply gave up this opportunity to play a one-man show for Softbank.

Masayoshi Son is really bullish on mobility, and he's ready to pay Uber and its rivals a lot of money.

Of course, Lin Yi has no obligation to remind him that the valuation of taxi-hailing software is close to historical highs, and there is not much room for growth in the future.

However, there is one thing worth noting. After this round of financing, Softbank alone has a shareholding ratio of more than 10% in Wanli Travel.

Considering that the relationship between Factory A and SoftBank has always been close, and they often appear as actual concerted actors when investing, they still have a great say in the company.

Correspondingly, after the huge sum of money arrived in the account, Lin Yi's shareholding ratio in the company also dropped to a new low.

Before the merger of Wanli Chuxing and Dudu Taxi, Lin alone held less than 30% of the shares. After the merger, it was only more than 14%.

After this round of financing, it will continue to drop to 13%.

With the current situation of Wanli Travel, Lin Yi doesn't worry about who wants to drive him down from his position, but with Cheng Wei's bloody example ahead, it's better to prepare early.

Lin Yi is already planning to adopt the structure of AB shares when going public next year, so as to ensure that he can maintain his advantage in voting rights with a small amount of shares.

As soon as the news that Wanli Travel raised $50 billion and its post-investment valuation reached $550 billion, it routinely caused a burst of exclamation.

But in fact, there is not much public opinion, because the heat of the taxi war has passed, but it has raised so much money and no one knows what to do.

In contrast, another thing is more interesting to the people who eat melons.

Although many transaction details are not public, as a non-listed company with so many investors, the transparency of Wanli Travel is already very high.

So some well-informed media found out that after this round, Lin Yi's personal net worth has exceeded 70 billion US dollars, and he continues to maintain his status as "the self-made richest post-90s generation".

For Lin Yi, the greatest significance of this incident is that Wanli Travel has completed the pre-IPO equity combing, and no changes are expected before the IPO.

All is ready except for the opportunity.

Chapter 592 I also have a younger brother

What Lin Yi didn't expect was that Softbank's 50 billion US dollars had not been warmed up in his own hands, and other people had already targeted it first.

As the younger brother of Mobike, the two main operators Hu Weiwei and Wang Xiaofeng came together.

This is rare.

Since Traveling Thousands of Miles gave Mobike [-] million U.S. dollars, and then continued to increase its holdings, and holds a veto, it is undoubtedly the most important shareholder of the other party.

However, Hu Weiwei and Wang Xiaofeng may have kept their distance carefully out of precaution against traveling thousands of miles.

The obligations to be fulfilled are never ambiguous, and the courtesies are definitely thoughtful, but not intimate.

Hu Weiwei also specifically explained: "Chairman Li didn't come here in person because he was delayed by other things, and he was definitely not negligent."

Lin Yi knew what Li Bing was up to. After announcing an eye-catching electric supercar at the end of last year and smashing several track records as marketing, he will finally launch his first mass-produced car in the future.

This reminded Lin Yi that the car-making team he had placed high hopes on hadn't handed in the homework yet.

But having said that, although Li Bing is still serving as the chairman of Mobike, his role has actually faded as the shareholding ratio of Wanli Travel has increased.

It's purely because Lin Yi has no idea about the short-lived chairman position, otherwise he should have replaced him long ago.

Closer to home, after exchanging a few pleasantries, Lin first asked why they came, and the two immediately started complaining when they saw the opportunity.

"You don't know, Mobike is under a lot of pressure right now."

"Although we completed the D round and D+ round of financing in the first two months of the year, we seem to have the upper hand, but the one-off financing of 4.5 million US dollars in March broke the industry record again."

"In terms of business, the two sides have been very tight on the number of launches, but you know that Mobike's bicycle cost was relatively high at the beginning, and it has been reduced through our efforts, but we have no advantage over this."

"One more thing, I heard that Xiaohuangche is still preparing for the D+ round of financing, so the gap in funding will be further widened, so the situation of Mobike is not optimistic."

Of course Hu Weiwei and Wang Xiaofeng exaggerated, but the facts are basically the same.

Why is the little yellow car so rich and powerful?

Because after Dai Wei rejected Lin Yi, the father he found for him was Goose Factory!

No one knows Goose Factory's money-making ability better than Lin Yi, otherwise it wouldn't be suppressed by Cheng Wei, and Liu Qing could not do without the support of Xiao Ma in the end.

So the two from Mobike came to visit immediately after hearing that Wanli Travel had won 50 billion US dollars, and they complained for no reason.

Lin Yixiao asked: "It's not as miserable as you said, is it?"

"Didn't you announce the landing in Singapore with great fanfare some time ago? At that time, my investors were asking me, why did you hold back when Mobike had already entered the overseas market?"

Wang Xiaofeng has always been quick to talk and looks very straightforward.

"To tell you the truth, Lin Yi, the so-called entry into the overseas market of shared bicycles is nothing more than a gimmick, and it is not at all a question of whether it can make a profit."

"On the one hand, the little yellow car was the first to announce its overseas strategy at the end of last year. Regardless of whether it made money or not, at least it has covered enough news pages. Of course, we must not fall behind."

"On the other hand, now a bunch of media commented on shared bicycles as one of the new four great inventions, and put us there. We can't justify it if we don't do something."

The so-called new four great inventions refer to high-speed rail, payment codes, shared bicycles and online shopping, which were very popular concepts on the Internet that year.

But it's only been around for a year.

Wang Xiaofeng's words are a bit cheap and good-looking. When he relied on this name to promote or pretend to be coercive, he didn't see him complaining, maybe he didn't miss the public relations fee.

Lin Yi didn't bother to discuss this with him, so he simply asked: "Just tell me, how much do you want?"

Not to mention, it feels quite fresh to be someone else's benefactor father.

The other two also came prepared, Hu Weiwei quickly took out a financing plan and handed it over, briefly explaining:

"Our preliminary plan is that the next round of financing will target US$6-8 million."

Huh.

Lin Yi didn't go through their plans carefully. Although he was mentally prepared, he was a little shocked when he heard the amount.

Wanli Travel raised 50 billion US dollars, how far has it come. Where does Mobike go and where does it cost so much money?

Money is not made that way.

Hu Weiwei observed the situation and found that Lin Yi seemed to have some opinions, so he added:

"Wanli Travel only needs to bear part of the investment and continue to lead the investment to express our confidence and support for Mobike. We can get the rest through other investors."

Lin Yi thought for a while and replied: "You can pay, but Wanli Travel has hardly interfered with your business for such a long time."

"Now that you have admitted that our support is crucial to Mobike, I think we should also agree on business issues."