A certain group did not show up for so long that Li Zehua himself almost ignored it.

Naturally, I wouldn't pay special attention to Wang Xing's movements.

He came to Yanjing with two purposes. One was to gain JD.com's understanding, and now he also wanted to tie up with JD.com to jointly develop the grassroots rural market.

Another option is to find a suitable map navigation company to cooperate with.

Judging from the current market share of in-vehicle map navigation, AutoNavi, NavInfo, Daodaotong (Changdi Wanfang), and Carlife have an absolute advantage.

In the early stages of the contact, NavInfo first rejected the request from Shanghai Qingyun Group to invest in the company.

The reason is simple. NavInfo had successfully completed financing before the financial crisis in 08. Behind it is Qiandu, one of the three major Internet giants, and the two parties have carried out in-depth strategic cooperation.

Well, another group, later refused Qiandu's full acquisition and had a complete falling out when the latter took over Changdi Wanfang and switched to the Tengda Group.

In addition, NavInfo has already submitted an application for listing to the Shenzhen Stock Exchange and is not very optimistic about Qingyun Group's first round of bids.

In the process of contact with Daodaotong (Changdi Wanfang), the price offered by the latter was also inappropriate. Unlike AutoNavi and NavInfo, they had their own listing plans.

Daodaotong does not have any similar arrangement for the time being. Due to its in-depth cooperation with Toyota, BBA and Nokia, Daodaotong, which makes money easily every year, has no plans to introduce new strategic shareholders.

Based on this attitude, it is no wonder that it became the first of the Big Four to be acquired in full.

It doesn't matter if Kailidi doesn't mention it. It doesn't even have plans for personal navigation. It focuses solely on the profitable business of in-car navigation, although it has shown a certain welcome attitude towards the investment from Qingyun Group.

However, the focus of subsequent negotiations with Qingyun Group was still on personal navigation, and even free navigation services, which made Carlife very uncomfortable.

"What? I let consumers willingly spend money four times a year to upgrade their car navigation systems, and you come here and ask for free services?"

Kailide couldn't understand what kind of brain circuit this was. How could one do business this way?
It would be crazy not to make money!

The shareholders behind it include funds such as Softbank and SAIF, which are also not interested in Qingyun Group. At the same time, they also provided Ali Group with information about Qingyun Group's contact with map navigation companies.

When enemies meet, they are particularly jealous of each other. Jack Ma also sent a team to Pengcheng to join this negotiation battle.

Therefore, the remaining AutoNavi Software and Daodaotong became the first choices of Qingyun System. Although the price of the latter was high, it was not impossible to negotiate, but the price-performance ratio was particularly uneconomical, so it was temporarily used as a backup option.

AutoNavi's situation is similar to that of NavInfo, both of which were originally invested by car companies. Especially the former, among its original shareholders were Aisin and Fujitsu, and they were greatly affected.

In the first A round of financing in 06, well-known venture capital firms such as Sequoia Capital and Lianxiang Investment were introduced.

AutoNavi also had plans to go public in the United States in 2010, and due to some unknown factors, after the board of directors made a collective decision, they were not very interested in the olive branch thrown by Qingyun.

In fact, for a rising star like Qingyun Group, there are not many options if it rashly enters the map navigation circle.

Except for the Big Four, the other eight map vendors with Class A qualifications have not developed well and have great hidden dangers, especially in surveying and mapping data, where they do not have any outstanding technology and reserves.

Qingyun Group does not have much time to waste. If it makes a rash acquisition, it will have to build a mobile technology team from scratch, which will require even greater investment.

It would be more cost-effective to directly invest in leading enterprises.

Fortunately, AutoNavi Software’s own internal risks gave Li Zehua the opportunity to intervene.

As we all know, there were three people when AutoNavi software and maps were first founded: Xiao Jun, Hou Jun, and Cheng Congbin. From a technical point of view, Xiao Jun was in charge of the research and development of AutoNavi maps throughout the process.

He himself came from a business background. When AutoNavi Software was founded, Hou Cheng and his partner invited him to join with 50% of Datong Industrial shares. This company was the predecessor of AutoNavi Software.

Relying on Xiao Jun's extraordinary business ability, he successfully obtained a loan of tens of millions of RMB from China Merchants Bank, which allowed AutoNavi Software to develop smoothly.

Today, AutoNavi has thousands of professional surveying and mapping employees, which is unique in the industry. Even after it was acquired by Ali, this team has been retained.

Different from the other two who came from financial investment background, Xiao Jun had great interest in the personal navigation market. As early as when Apple smartphones first appeared, he showed his keen insight.

It was also with his strong support that AutoNavi quickly launched the personal navigation service bound to Apple mobile phones.

Therefore, the future depicted by Qingyun Group includes but is not limited to the all-weather personal navigation market in the food delivery and express delivery industry, and the accompanying development of the open in-car navigation market.

He was very tempted, but gave up because of the strong opposition from other board members.

Historically, this was the first high-level strategic discussion meeting of the company after AutoNavi successfully went public in the United States.

He also strongly advocated that the company should transform and develop towards mobile terminals, and asserted that the map circle will embrace the Internet and the future will be dominated by big capital and user scale.

With AutoNavi's current financial reserves, it is difficult to gain an advantage in the competition in the mobile Internet era. It must introduce large external funds and complete the transition from paid to free services in order to succeed.

Later, the development trend of navigation maps perfectly confirmed this logic. Three of the four major companies were acquired by BAT, and Qiandu fired the first shot in free navigation.

Relying on a completely free strategy, Gaode was dragged into a quagmire of huge losses with high cost operation, high investment and low returns. So where does the money come from?

If we don't follow, our market share will be taken away bit by bit, which is tantamount to chronic suicide.

Just like Carlife, which once occupied more than 70% of the car modification navigation market, who will still remember it in ten years?

Unfortunately, his inappropriate remarks are destined to be unacceptable to the company's shareholders, especially his plan to introduce Tengda Group to take over AutoNavi, which will touch the core interests of the capital behind him.

Let’s take a look at who are the investors behind AutoNavi?
With a group of well-known capital investors, plus Sequoia Capital and Lian Xiang, it is listed in the United States and sponsored by Goldman Sachs. Even if it wants to sell itself, it cannot go to Tenda.

This also laid the hidden danger for him to be expelled from Gaode in the future.

By the same token, when Tengda later entered the map circle and sought cooperation with Kaili, it was also ruthlessly rejected.

The logic behind this is that the fundamental reason is that the two sides cannot play together. Behind Carlife is the British and American chicken in the basin, and at the very least it is the Taishan faction.

It is totally different from Teochew porridge.

If NavInfo had not been listed on the Shenzhen Stock Exchange.

It is not Tenda's turn to acquire shares and become the second largest shareholder. Well, it is extremely difficult to acquire it completely. It is not a matter of money and market share at all.

Fortunately, Xiao Jun still had some personal interest in the cooperation. When he learned that Li Zehua had come to Yanjing in person and asked him to meet secretly, he was tempted...

"Unlike other industries, the start-up of map navigation was inevitably influenced by foreign capital at the beginning, and no one can do without the strong support of car companies."

Although it was the first time they met, Xiao Jun had known Li Zehua for a long time. With the two-month advance contact at the Yanjing branch, Xiao Jun also had some understanding of his situation.

Although the two people are in different industries, their working styles are similar.

They are all based on the most basic details of the industry, constantly consolidating the foundation and taking root at the grassroots level.

AutoNavi Software has a surveying and mapping team of one to two thousand people, while Qingyun Group is aiming for the title of the private company with the largest number of employees in the country.

While attaching importance to the development of science and technology, they also attach importance to the role of people, and pay more attention to user scale, revenue scale and future development.

Rather than the short-term benefits in front of you.

Xiao Jun attaches great importance to this point because the competition in the black-and-white in-car navigation market is too fierce. The market size itself is so small and there are so many competitors competing for the market share.

If it relaxes even a little, the lost market share will never be regained. In the pre-installed car navigation market, AutoNavi can still maintain a certain competitive advantage.

However, in the market for modified car navigation systems, Carlife is building its own moat bit by bit by relying on its unique advantages.

What makes Xiao Jun feel particularly sad is that before the financial crisis, AutoNavi had the opportunity to acquire NavInfo and overtake its competitors, but certain people interfered and the plan failed.

"Can it be understood that the rejection of Qingyun Group's proposal to invest was due to being coerced by the capital behind it?"

Li Zehua spoke directly, "In fact, in addition to you, Hongshan has also been in contact with Qingyun, and Mr. Shen's attitude is similar, so we can talk."

Sequoia Capital's Shen Nanpeng is a name that cannot be avoided in China's Internet circle. Looking at his investment record, it is a vivid history of the development of China's Internet.

Xiao Jun was not surprised. "In fact, I understood it the day Mr. Shen invested in AutoNavi, but it was useless. Even if you can convince Mr. Shen, with my shares, it is not enough to finalize the company's cooperation."

AutoNavi and QingCloud are similar in that both are considered non-mainstream companies in the Internet circle. The former has a seemingly large market share, but its revenue is not much, and in 09 it did not even reach US$6000 million.

Although the gross profit margin is not low, at more than 2000 million US dollars, it is not even considered a second-tier company in the entire Internet circle.

As for Qingyun, let’s not mention it!
But the vision of venture capital, or the long-term layout of British and American capital, has taken into account all possibilities in advance. No matter how technology develops in the future, it cannot escape their control.

"Mr. Shen's demands are too high. I don't think we can reach an agreement in a short time."

Li Zehua shook his head. Shen Nanpeng had contacted him as early as when Temasek and Gaoling acquired shares in Pinxixi. When Pinxixi's daily sales exceeded 100 million, the investment team of Sequoia Capital visited him several times.

He rejected them all without leaving a trace. But the horror of the first-mover advantage cannot be explained in just a few words.

The consequence of refusing to embrace capital is that it is difficult for up-and-coming companies to make a difference in this circle. Looking around, many leading companies in key industries are within the investment range of others.

However, Shen Nanpeng thought too highly of the map industry and even wanted to exchange Qingyun for a stake in AutoNavi and asked for a certain number of shares in Pinxixi.

It doesn’t matter. The key is that the sponsorship requirement for Pinxixi’s listing in the United States makes Li Zehua very annoyed. If he had this plan, he could have talked about it at the beginning. Why drag it on until today?

Hearing this, Xiao Jun spread his hands and said, "That's very difficult. At present, Mr. Hou and Mr. Cheng together own 32% of the company's shares, and I also only own this much.

If you can’t get more than two parties to agree, it’s almost impossible to get investment opportunities.”

"Poor guy, he still doesn't realize the seriousness of the problem."

Li Zehua muttered to himself, 32% is good, it is just at the critical point of one-third of major decisions, and there is no decisive veto power.

No wonder that after AutoNavi went public, it was easily swept out by the capital that had formed a group when disputes arose over the company's future development decisions.

In this respect, Xiao Jun's ending is very similar to Sun Tongyu's, but he obviously does not have the latter's good luck. At least Sun Tongyu is currently on Pinxixi and has found a stage to prove himself again.

Speaking of this, we have to mention that after going public, the company must at least give up 25% of its shares to investors.

Based on the slightly more than 12% of AutoNavi shares that Hou Jun later controlled, he and Cheng Congbin together controlled exactly 24%, which was a little more than 32% before the listing.

"Is there a possibility that we can ask Mr. Cheng or Mr. Hou to buy some shares from other companies at a premium, as long as it exceeds 50%."

Li Zehua did not want to make this deal with Shen Nanpeng because he never planned to go public in the United States, and he could not use or afford many of the latter's resources.

Pinduoduo group buying has embarked on a development path that is completely different from its history. If it wants to go public in the United States to cash out, it would be a bit of an insult to the IQ of capital, as they are eager to complete the controlling stake.

"It's difficult. Lian wants to disrupt the situation. Both Mr. Cheng and Mr. Hou have been persuaded."

As Xiao Jun was talking, he looked at him suspiciously, "Come to think of it, what did you do?
It was so amazing that even someone who wanted to invest would reject you without even a second thought when they heard that you wanted to buy a stake! "

"Is this happening?"

Li Zehua was very puzzled because he had never had any contact with Liu Aiguo!

How could he know that when he was engaged in a price war with Ali and refused mediation from the Fuxing Group, Liu Aiguo had his assistant call him several times in a row.

Without exception, all were rejected.

This is equivalent to trampling on the reputation of the Taishan Sect, coupled with the subsequent tit-for-tat confrontation with Ali, especially after Pinxixi came out of nowhere.

The Qingyun Group and the Ali Group have been in an irreconcilable hostile relationship. Whether it is for the purpose of maintaining the status of the Taishan Sect or to stand up for his younger brothers, Liu Aiguo must step forward and do something.

It just so happens that Qingyun has approached Gaode and handed the evidence to Lianxiang Investment, so he must be able to take advantage of it, right?

"Although I also want to promote cooperation between the two companies, you see, there are so many voices of opposition."

Xiao Jun smiled bitterly and shook his head, "I hope the situation will change in the future, and there will still be a possibility for you and I to cooperate."

He is very excited about the future proposed by Qingyun Group, which is the personal navigation market for hundreds of millions of food delivery couriers.

This means that after AutoNavi's transformation, the largest user moat can be quickly established. This is almost a godsend for a navigation company, and it is a sure win.

However, the capital behind him disagreed, and he was alone and had no room for resistance.

Seeing that he was about to end the conversation and leave, Li Zehua was not at all flustered, "Mr. Xiao, don't you want to listen to my future plans for the navigation market?"

Xiao Jun asked back: "Is it okay?"

"What does this matter? Do you know the free model of 360 Antivirus? Look at the antivirus software that used to be paid on the market today. Where are they?"

Li Zehua didn't care at all and just casually told the plan.

What is the scariest business model in the world?
It’s a business model similar to Pinxixi, which everyone can understand, but it’s impossible to learn!

He also plans to make a perfect copy of the map navigation industry.

“If AutoNavi refuses, I will then seek cooperation with Changdi Wanfang’s Daodaotong. After obtaining the controlling stake, I will develop completely according to the established strategy.

In addition to the completely free personal navigation market, Qingyun Group will not only invest heavily in the in-vehicle navigation market to complete networking operations, but will also completely remove restrictions and introduce a free model. "

What are the core advantages of the Internet?
It’s free!

Free is the most expensive!

Xiao Jun obviously understood his actions and said in a lost voice: "Boss Li, are you planning to overturn the table?

Let everyone go hungry?!"

"Why, I can't afford to play?"

Li Zehua smiled calmly, "AutoNavi's current revenue is only about 300 to 400 million yuan a year at most.

How big is the entire in-car navigation market? Only 10 to 20 billion. How can this be compared with the hundreds of millions or even billions of users I envision?
The traditional business model is outdated. Now is a new era in which the Internet completely embraces the market and users are king.

If your company insists on refusing, how can it be successfully listed in the United States?

I said, at most one year, if we can hold on without going bankrupt, we’ll be lucky.”

Xiao Jun's legs were about to move forward, but they stopped instantly.

After forcing himself to calm down, he asked with almost fanatical anticipation: "Tell me in detail."

"???"

Li Zehua was very puzzled, "Boss Xiao, what are you doing?"

Was it as expected, that he would turn against you ruthlessly, scowl at you, or even curse at you?

Little did he know that his business idea was exactly in line with Xiao Jun's plan for the future of the navigation market. Earning tens of millions a year was nothing, he also wanted to become one of the Internet giants.

The navigation market definitely has this potential, but the people in the company are determined not to give up the small profits in front of them.

After confirming that Xiao Jun was not insane, Li Zehua was speechless. It turned out that the like-minded person he had been looking for was right in front of him.

I might as well not pretend and just briefly talk about the overall plan.

After listening to this, Xiao Jun clapped his hands and said, "I have wanted to do this for a long time. Smartphones can be updated in real time with the car system. There is no need to go to the 4S store to download it.

Companies like Carlife and NavInfo, which update their maps several times a year and charge hundreds of dollars each time to unlock new maps, should have been swept into the trash long ago.

You don’t know, but every time the company holds a strategic planning meeting, I want to change this small and precise model. Navigation should be handed over to all consumers so that more people can enjoy professional services.

Instead of taking advantage of the opportunity to threaten and force consumption, this kind of limited market is doomed to have no good development prospects..."

Li Zehua was stunned. If he had known it was so simple, why would he have gone through so much trouble? He could have just destroyed the whole thing.

But he didn't think about it. Before Pinxixi became successful, where did he get the funds to offer it for free? Acquiring a navigation company with Class A surveying and mapping qualifications would cost at least hundreds of millions even if it was cheap.

"Mr. Li, please come up with a complete business promotion plan. I will contact the other two privately.

As long as you get the support of Mr. Cheng and Mr. Hou, there will be no problem for you to become a shareholder or even a controlling shareholder."

Faced with Xiao Jun's volunteering, how could Li Zehua refuse? He immediately asked Guo Xinyi to give him a copy of the business plan he had prepared.

After reading it, Xiao Jun patted his chest and said, "Three days at most, Mr. Li, prepare the funds and wait for my good news."

Why did he refuse?

This is the ideal he has pursued all his life. How can he become a new giant in the Internet era without sufficient funds?

During his previous contacts with Qingyun, he was already fully aware of the other party's sincerity. He was never stingy in rewarding truly useful talents with stock options.

Value talents, respect talents, and make use of talents!

Sharing happiness is the key to impressing him. (End of this chapter)