Chapter 149: The War of 70

“Is it possible that Baidu is not the only option for Uber to enter the domestic market?”

The atmosphere in the meeting room was dull. Xie Jingxing said slowly, "Kuaidi and Yidao, Uber should just acquire one of them."

Didi now occupies 45% of the national market share, and other peers share the rest. With the completion of a new round of US$7 million in financing, Kuaidi is clearly lagging behind.

Mr. Ma did not make any public statement after private communication, partly because of a sense of policy crisis and partly out of fatigue.

The outrageous and crazy money-burning strategy of the online ride-hailing industry is indeed, as Jia Yueting said, not in line with the laws of the market economy and has spoiled users.

Today, people use Didi if Didi’s subsidies are high, and vice versa, they switch to Kuaidi. This has led to a rapid growth in the number of mobile payment users and market coverage for both parties, but the actual order data growth has not reached the expected growth that is the same as the cost of burning money.

Tencent can barely tolerate being the offensive party, but Alipay, as the absolute leader in online mobile payments, has reason to be dissatisfied with the offline mobile payment business brought by Kuaidi.

Especially when 4G came into being, Alibaba found a more promising entry point in offline mobile payment scenarios, namely, takeout group buying and local life.

"Do you remember the entrepreneur who splashed ink when I first came to your company? I said at that time that killing a competitor in seven days was still too slow."

Xie Jingxing lowered his head slightly to hide his unconscious trembling expression: "Because at that time I was imagining various ways to deal with Uber's entry into China. After thinking about it, there are two options. Either we must first stabilize the country before we can resist foreign aggression. What we are discussing now is to merge with Kuaidi and reach a tacit understanding so that we can point our guns at the outside world together."

"If you want to stabilize the internal situation, you must first fight against the external one. Since Uber is willing to come in, let's kill it head-on. When we decide the winner, there will be no third player in the market, only the first player."

He took a breath, raised his head, and tapped his temple with his hand: "So in my opinion, there is no such thing as losing control. As long as we want to be the boss, this competition will only end when one of us lies between Uber and us, and the money burning can be controlled."

A young and handsome face was flushed with excitement. Cheng Wei saw it, his cheeks were tense and his lips were moving slightly ferociously, and he seemed to be unable to breathe.

After a moment of silent stalemate, Liu Qing suddenly laughed.

"So the worst outcome is that they continue to burn money until Uber enters the domestic head-on competition in their best state and manner."

She analyzed in a relaxed tone: "If we are optimistic, we will exert extreme pressure to integrate the domestic market first to compete with Uber."

"In fact, I think so. Now that the policy is unclear, everyone has a sense of crisis, but who doesn't have a little cautiousness to gamble that the final policy will be positive?"

Liu Qing glanced at Cheng Wei, then looked at Xie Jingxing: "There is nothing to discuss with Lu Chengwei now. The most we can do is to comfort the investors on both sides. Everyone is really suffering from the money burning these days."

"We have burned through 20 billion yuan, and the money spent by Fast is not much less than ours. Lu Chengwei will not be satisfied until the very end." Cheng Wei took off his glasses and responded.

Xie Jing Xing pulled the corner of his mouth: "How about it, can you make a decision?"

"Then just target Yidao and give Uber an opportunity. If you win, you'll be the boss; if you lose, you'll be the pioneer. This is a good deal!" Cheng Wei said jokingly.

No matter what the process is, the result is clear and the only way is to support Uber, so there is nothing unacceptable about taking a small gamble in the process.

"I traveled to many places during my four years in college, including Northern Europe, South America, and Southeast Asia... They didn't have their own Internet companies, or even the concept of Internet business."

Xie Jingxing paused for a moment: "This has led to American Internet companies going to these regional markets and taking whatever they want like soldiers from heaven. Wherever they go, there is no resistance. This is much more uncomfortable than the feeling we have now when we see Uber making hundreds of millions of dollars in profits every year."

He tilted his chin up and pointed at the data on the projection screen: "In the past, many domestic Internet companies had the same experience as us. When Amazon and eBay entered China, no one thought that Alibaba could win the e-commerce war."

"When search engines like Yahoo and Google entered the Chinese market, the public overwhelmingly shouted that Baidu was doomed. Also, Microsoft and Facebook... maybe they didn't fail, but they certainly didn't win."

Xie Jingxing picked up the water cup and poured it onto the table, then used his finger to write the number '6': "In the more than years since the development of China's Internet industry, more than a dozen international giants have entered this market from six sub-sectors."

"So far, Chinese Internet companies have fought six wars. Although I don't like Baidu and Alibaba, they have survived to the end."

He stood up and rubbed his palm across the table, splashing water and disappearing numbers: "In the online car-hailing industry, we are the seventh time. I regard this as a kind of inheritance. I don't know how we can lose."

When the cool water splashed on his skin, Cheng Wei breathed a sigh of relief.

He is very clear about what so-called inheritance is. Many of Didi's more than 3,000 employees come from BTA, and the various competitive strategies and tactics in the online car-hailing industry come from the market summary of China's first generation of Internet companies in the past few decades.

The same is true for Uber. It is not Uber, it is a summary of the first generation of Internet companies in the United States.

Based on this, the largest capital currently behind Didi chooses to believe in Didi, which is a reason that sounds somewhat idealistic.

But when it comes to Uber, which is valued at $30 billion, all kinds of cold data analysis seem particularly powerless and it is difficult to convince investors.

"7/0." Liu Qing stood up and stretched out his hand.

Xie Jingxing clenched his wet hand into a fist and touched it with hers, then looked at Cheng Wei: "We are 7."

"You convinced Mr. Ma in the same way before," Cheng Wei stated.

Xie Jingxing didn't react for a moment: "Huh?"

"The WhatsApp acquisition case is like a monkey climbing over the wall." Cheng Wei joked with relief.

Xie Jing Xing thought seriously for a few seconds: "No, in this round we are the dogs guarding the house, biting to death the monkey that jumps into the wall."

…………

Cheng Wei and Liu Qing, who were persuaded, did not intend to let Xie Jingxing go easily. Instead, they came up with a new round of financing plan, with a total financing share of US$7 million. Tencent confirmed to lead the investment with US$2 million, and Xiyou followed with US$1 million.

In addition, three US dollar funds led by Temasek divided the remaining US$4 million. The VIE equity structure created by Liu Qing has begun to show results.

This huge amount of funds not only gives Didi the confidence to put extreme pressure on Uber, but also provides the capital to deal with all challengers.

A freight online car-hailing platform called "Huolala" was just established last month and landed in southern China from Hong Kong Island a few days ago; traditional local designated driver companies strongly resisted the Internet designated driver platforms; Yidao Travel invested heavily in purchasing buses in batches to target the ToB enterprise car rental field...

Since then, Didi has entered the orbit of a giant and has opened fire in all related fields. The momentum of capital will push it further and further and it cannot stop.

If Didi and Kuaidi merge in the future, Cheng Wei and Liu Qing are destined to have the last laugh, and the original Kuaidi founding team will be kicked out.

Xie Jingxing was very interested in how Liu Qing attracted the three investors from Temasek, but unfortunately he was standing too high now and could not see some things.

After chatting with Cheng Wei about some trivial details and arranging for Tang Man, who was extremely busy, to follow up on the financing details in two days, he borrowed a car that could enter the Second Ring Road and hurried to Beijing Plaza.

There is a building located not far to the east of the Forbidden City. It has an old and simple facade and a sign hanging on the roof - Chang'an Club.

"Mr. Xie, a gentleman who wishes to remain anonymous said he has an appointment with you. He is waiting for you in the lobby."

As soon as he walked in from the side door, a middle-aged woman in a small suit came forward and said. Xie Jingxing was confused: "Didn't I tell you that if someone comes to see me, let him go in first?"

“Well, this gentleman insisted on waiting for you in the lobby,” the middle-aged woman explained.

Xie Jingxing walked towards the lobby first. At the entrance, a huge dragon throne glittering with golden light came into view. Then he saw a middle-aged man wearing a suit jacket, a leather coat and eight-hole Martin boots, standing at the door and pacing back and forth.

He understood and nodded, saying hello: "Boss Li, this way."

"Sir, the indoor heating is quite sufficient. Let me keep your coat for you." The middle-aged woman quickly interrupted.

Li Ming looked at her with a gloomy expression, and Xie Jingxing joked, "If you don't mind the heat, wear it."

The middle-aged woman hesitated for a moment, smiled awkwardly and said nothing more.

It was known as the most mysterious and top private club in the country, and had requirements for guests' attire, but Xie Jingxing was not a member, so there was no need to offend him because of this.

We took the elevator to the open-plan restaurant, where a table in the corner was already prepared with Western cutlery.

Xie Jing Xing gestured to sit down and chat: "I heard that the Cantonese chefs here are very skilled. Unfortunately, I haven't eaten French food for a long time since I came back from abroad this year. I'll treat you to Chinese food next time I have the chance."

"I'm not picky about food, so I'll take advantage of Mr. Xie's kindness and try some foreign food today."

Li Ming took off his leather coat and put it on the back of the chair, which made Song Anli's eyelids twitch.

Xie Jingxing couldn't help laughing, what a wonderful person he was, he gave her a look to signal her to start eating.

Each person had a small glass of champagne for the aperitif, and three appetizers were served, including foie gras, Scottish smoked salmon, and vegetable salad. After each dish was served, a new set of tableware was provided.

When eating the vegetable salad, Li Ming couldn't help but grin his teeth as he held the cold knife and fork: "Did you just take the tableware out of the refrigerator?"

"I'm very sorry, sir. The best taste of each dish is achieved when using tableware at different temperatures. You can change it if you don't like it." The waiter explained awkwardly.

Xie Jingxing asked with interest: "Mr. Li doesn't usually eat French food?"

"Please forgive me, Mr. Xie. I say I'm in the entertainment industry, but I'm actually a complete vulgar person." Li Ming threw away the cold knife and fork in his hand and replaced it with an ordinary set.

Xie Jing Xing looked towards a private room not far away: "The longer you eat French food, the more advanced it is. It's best if you can take two and a half hours to finish a meal. If you are not used to it, just serve all the dishes and we can change chopsticks."

Li Ming followed his gaze and turned his head to look at the open private room. A top female star in the circle today and two second-tier female stars came out with several men in suits and ties. It seemed that the dinner was over and they were going to have a second party.

The top female star, with a flushed face and a bit of drunkenness, inadvertently saw him and was visibly stunned for a moment, then smiled at him and continued to walk out with a young man.

"...No need to bother. I'll learn from Mr. Xie."

Li Ming forced out two self-deprecating chuckles from his throat and picked up the cold knife and fork again.

While the two were talking, several young and old gentlemen came over. Among them, a young man surrounded by the crowd greeted him in a familiar manner, "Master Jing, why didn't you tell me you were coming to the capital? You're so polite."

"I was scared by your drinking last time, so this time I'm here on a business trip to handle some work."

Xie Jingxing sat motionless, and Li Ming stood beside him, neither standing nor sitting, gritting his teeth and pretending nothing had happened.

The young man pretended to complain: "You make us in Beijing seem like we only know how to drink. Tomorrow, call Brother Yao and I will take you to experience the cultural and entertainment life of Beijing..."

Such an ordinary and boring compliment, but it caused everyone around him to laugh and agree.

The young man was satisfied and wanted to say something else, but when he raised his arm halfway he felt a soft and warm embrace. He immediately came to his senses and unnoticeably pushed away the female star who was holding his arm, left a few polite words and said goodbye to everyone.

My brain is soaked with horse urine, I forgot that this top playboy publicly announced that his girlfriend is a star, and she is not as famous as the one who is drinking with him...

The young man secretly regretted it. He just happened to meet the other party at a drinking party with a big brother in the second-generation circle some time ago. He heard from the big brother that this young man was not just a rich second-generation, and there was some deep relationship that was hard to explain.

Today I just wanted to make myself familiar with the crowd and show off in front of a few leaders and friends. If Xie Jingxing misunderstood me and felt embarrassed, it would be a case of good intentions leading to bad results.

"Mr. Xie often comes here?"

Watching the young man walk away quickly without any embarrassment, Li Ming's expression changed subtly and he asked tentatively.

Xie Jing Xing concentrated on the red wine stewed beef on the plate and said very calmly: "This is my first time here. I think of myself as a businessman and don't like this kind of place."

"Normal businessmen may not like to come here." Li Ming clenched his knife unconsciously.

"But where there are people, there are rivers and lakes. As long as there are people, if the Chang'an Club is demolished today, the Jiu'an Club will appear tomorrow."

Xie Jingxing thought for a moment and brought up the topic: "I didn't bring you here to show off, it's just suitable. If today's meal is more suitable to be eaten in the Great Hall, then we are in the Great Hall now."

"..."

Li Ming was speechless for a moment. Fame, wealth, power and sex are inseparable. After being in the entertainment industry for a long time, he has seen all kinds of monsters, but he has never seen anything like this.

Xie Jingxing raised his eyebrows: "The Great Hall has a rental business, it seems to be quite cheap, it can be rented to host weddings, funerals, birthday banquets."

"Mr. Xie, please forgive my stupidity. Just tell me what you mean. I will definitely accept it and will never let you lose face."

Li Ming was so frustrated by the constant barrage that he decided to just act out his gangster style.

"I want to acquire Pony.com, but I heard that your equity structure seems very complicated, so I would like to ask you for advice."

"Mr. Xie, to be honest with you, Huayi offered 6 billion to acquire Xiaoma Pentium a few days ago, but I didn't agree. It's not for anything else. Xiaoma Pentium is my hard work. I hope you can understand."

"I understand, so I don't plan to acquire it now."

They chose to eat French food in an open-plan restaurant. The Chang'an Club, a symbol that is neither up nor down and lives in street literature, will spread the news of the two people's meeting to the ears of relevant stakeholders as quickly as possible.

Both Pony.com’s existing investors and those with political and business connections will probably re-judge things.

But it was just a delay of a few days. Borrowing his life for three days was the payment for today's business consultation. Xie Jingxing hoped to see Li Ming stop messing around and honestly go to his predetermined destiny.

(End of this chapter)