Brother Xiao Ma is very annoying.

Because Pinduoduo does not allow Tenda to use traffic instead of cash to convert into shares, even when talking to Li Zehua face to face, the other party's attitude is the same.

I'm a bit stubborn, what can you do to me?

From the moment they entered the door until now, the atmosphere between the two sides has been tense, and it doesn't look like the host and the guest are having a good time at all.

Zhang Zhidong stopped pretending and adopted an aggressive attitude, "Pinxixi cannot do without the traffic support of Tenda."

"Without Tenda, the traffic from Baidu and Google can still guarantee the future of Pinxixi. However, Mr. Ma is unwilling to give the actual conversion rate of Tenda's traffic, which makes it difficult for me to make an accurate assessment."

Li Zehua spread his hands, unmoved, "For example, Baidu's traffic conversion is obvious to all, and every user who enters the group buying website through the search business and completes the actual transaction.

Pinxixi can get timely feedback through background data, which also makes it convenient for us to estimate the actual value of Qiandu search traffic.

But I'm sorry, Tenda, except for the traffic of Tenda's portal websites, no one knows the actual effects of other specific conversion ratios.

The conversion ratio of link traffic between QQ friends and QQ groups has only been a vague data given by you from the beginning to the end, which is obviously not convincing.

You can't even provide specific data for your group-buying platform. You only give a general statement that through Tenda QQ, the group-buying platform has reached tens of thousands of users and achieved certain sales results.

Now Tenda is going to use unknown traffic to replace 30 billion US dollars of resources. Faced with such huge benefits, please put yourself in their shoes, Mr. Ma and Mr. Liu. What choices would you make in this situation?

Even if I am moved by your arguments today, how can I convince those venture capital institutions when I return to the company with such harsh conditions?

Their opposition is a small matter. But once they determine that I cannot continue to protect the rights and interests of investors, how can I continue to lead the development of the company?
So it is meaningless for you to put pressure on me. It is better to consider how to convince the investors behind me. As long as they agree, can I refuse? "

The goal is not to offend Tengda, but to let both parties reach a temporary balance of interests. Thinking of this, he softened his tone and said, "Of course, I have another suggestion here, if Mr. Ma agrees.

I am willing to do my best to convince all the investors of the company and make this financing cooperation possible.

As the chairman of the board of directors of a listed group, Mr. Ma should understand better than me that as long as we can deal with the investors, all other problems can be easily solved. "

Xiao Ma Ge, Zhang Zhinongdong and Liu Zhiping looked at each other and saw impatience and depression in each other's eyes.

If it were any other Internet company, Tenda would have a hundred ways to target and manipulate it and make it surrender.

But there is no good solution for Qingyun Group, a non-mainstream Internet company that mainly operates offline.

Conventional means are like tickling Qingyun. If you act more ruthlessly, the effort and reward will be disproportionate. For example, Tengda is determined to deal with Qingyun, and the latter really has no good way to deal with it.

But what can Tenda get?

Engaging in a price war like Ali will ultimately be meaningless for Tenda. What it pursues is good-looking financial statements and sustainable business expansion that will be recognized by investors.

For example, the 800 million yuan advertising contract signed between Qingyun Group and Qiandu is what the investment market cares about, and the logic of investing in e-commerce is also here.

Tenda needs a stable monetization channel that can carry excess traffic, which Ali will not provide, and the Qingyun system does not seem to recognize the value of QQ traffic.

This made a large group of Tengda management including Liu Zhiping very angry. This was questioning Tengda's business foundation. If the news got out, outsiders would think that Tengda was in trouble.

However, no one has the confidence on how to build the Tenda group buying platform, make it the best in the industry, and enable it to perfectly absorb the excess traffic.

If possible, we would not be discussing investing in Pinduoduo now, but just spending a little money to acquire Pinduoduo.

Xiao Ma Ge was angry at the other party's audacity for daring to break the window paper in front of him, but as a qualified business leader, he still patiently made a gesture of invitation.

Li Zehua then spoke: "Excuse me, but you all seem to have underestimated the role of Tengda QQ's other flagship product, QQ Space.

If Mr. Ma can agree to open up QQ space traffic to Pinxixi, for example, by hanging a Pinxixi advertising banner above the personal space.

Another example is adding soft-text advertisements for Pinxixi in QQ space, or even adding Pinxixi commercial elements to the supporting game value-added services...

Suppose that in the currently popular QQ Farm, a Pinxixi co-branded feed is added. As long as you purchase goods on the Pinxixi platform, you can get it for free.

You can even add a sharing link function in your personal space, forward it to your friends, click on it, and then generate real transaction data...

If such a strategic cooperation can be achieved, I guarantee that the Pinxixi group buying platform will accept Tenda as a strategic partner as soon as possible, and financing and shareholding will not be a problem.

Even Pinxixi E-commerce can accept Tenda as a new shareholder.”

Li Zehua said all this in one breath, staring at Xiao Ma Ge in front of him with anticipation for his reaction.

What made him happy was that Xiao Ma Ge seemed really moved.

"I am wholeheartedly considering the future prospects of cooperation between the two companies. Mr. Liu, do you have any opinions? Let's talk."

Xiao Ma Ge was seriously considering the feasibility of the cooperation, while Liu Zhiping was much more cautious, frowning as if he couldn't help but question.

Li Zehua thought about it for a long time, thinking that before he came, he had discussed with the company's decision-making committee for a long time before coming up with such a best of both worlds solution, and even tested the order of languages ​​many times.

It doesn't make sense that this can't impress Tengda, right?

Cooperation?

Of course I mean it!

There are just a few minor hidden dangers. Putting advertisements on personal homepages on QQ Space and delivering feeds on QQ Farm are not new things. Tengda also did it in later generations.

It’s just that the timing was not good, and traffic was not monetized when the space was the hottest.

The only thing is sharing the link in the space, allowing all friends to jump to the Pinxixi website through the link, which seems to have a good effect, but is actually a huge pit.

why?
Historically, Pinxixi was indeed very popular through viral marketing on WeChat, but what is the real situation?
When the marketing was at its hottest, almost all consumers hated the so-called link sharing, and the driving force behind downloading was just to help cut the price for the sake of face from relatives and friends.

Uninstall it immediately after cutting it, without any hesitation.

The greatest support that WeChat brings to Pinxixi is to let consumers know that there is such an e-commerce website, and that’s all.

20 years ago, Pinduoduo's revenue was almost always below to billion yuan, and it often suffered losses of several billion yuan every year. Where did the money go?
They used advertising to attract traffic, but in fact, the number of retained users obtained through various marketing methods was ridiculously low. This is the historical truth.

No company (except gaming companies) has ever been supported by Tenda's traffic.

The truth behind Pinduoduo's rise hides the most fundamental underlying economic logic of this world, which is that the worse the economy is, the more tragically those who work hard will die.

In the process of struggling, the merchants who have emptied out their last penny are the source of nutrients. Ordinary people at the bottom earn only a few dollars a month and at most contribute a thousand yuan in sales.

With the meager profits of e-commerce companies, which are said to be the lowest on the entire Internet and often sell at discount prices, how can a turnover of 200 billion yuan contribute to a quarter of the net profit?

600 billion. Anyone with a bit of common sense knows that relying solely on the meager commission income advertised and then investing billions in subsidies, the net profit cannot be reduced by even a zero.

Almost everyone can find similar examples around them. Those who started businesses and went bankrupt, were heavily in debt and eventually became the executors, were almost all people who were particularly ambitious and daring.

Instead, they lay low in advance. The truly smart people choose a more stable way to get ashore. For example, what Pinxixi is doing now is to sink consumption, mobilizing more than 100,000 people to go to the countryside to open up the rural market, and there is no agricultural and sideline products industry chain construction for more than ten years.

It is impossible to establish an economic cycle that covers the vast majority of the population, so where would the performance profits come from?

The answer lies in the merchants. Those who really want to make a comeback believe that by participating in the process of consumption sinking, they can make up for the lack of quality with quantity and play with probability statistics rather than economics.

A thousand ordinary consumers cannot reap as much profit as a merchant who has accumulated millions or tens of millions of dollars through Taotao or JD.com.

But who can blame capital for its endless stream of means? Even if there is no commercial value, it can still devote itself to creating group scale effects.

The franchisees thought it was a new myth of getting rich, but they didn't know that others were sharpening their knives and preparing to drain the pond for fish.

Li Zehua understood and was completely shocked. He didn't even dare to imagine the consequences of continuing down this path, but he was clear about one thing.

No matter how well you hide your personal information or how much you invest in your hometown, you can't escape the day when smoke comes out of your ancestral grave.

This is literally smoking!
If it reaches the level that it did in history, millions of people across the country would miss his ancestors. Not only would Pinxixi employees not dare to wear work clothes when going out, the entire Qingyun system would suffer a serious impact.

But the more this happens, the more he wants to stick to the existing business model. At this moment, he deeply understands that Tengda's evil tends to be subtle and never superficial.

Since it wants to invest in Pinxixi, that’s fine. Just show your sincerity. At this moment, the product with the highest retention rate of QQ is QQ Space.

As long as Mr. Ma is willing to use the same strength he will use in the future to support Pinxixi to support the Qingyun system now, there will be no problem at all. In a year at most, Pinxixi will become popular all over the country.

Historically, the Thousand Group Wars burned 80 billion in advertising fees in two years and created sales of more than ten times that. He doesn't mind just one company burning so much.

The only price is a bit touching. QQ Space may be abolished prematurely because of this, just like Weibo and Qiandu Search which are full of advertisements. Although some people still use it, its essence has changed.

Who would tolerate a private and personalized space that is only shown to close friends and family becoming a stinking ditch filled with advertising links?

This is even more disgusting than some software that receives messages and shows that they have been read but not replied, which makes people feel sick.

Liu Zhiping just felt that something was clearly wrong, but he hadn't figured out what it was.

Besides, Li Zehua backed down too quickly. Why was he so confident in a product that hasn't even been fully put into commercial use?

This is not just a small amount, but an astronomical figure involving nearly 30 billion US dollars. According to the conditions offered by Tenda, 70% of the traffic must be converted into shares.

Even if Pinxixi accepts Tencent's investment condition of no more than US$35 billion, it is still worth more than US$20 billion!
Ma took a look at this capable young man who had jumped from Goldman Sachs and signaled him to come forward to facilitate the negotiations.

Liu Zhiping did not move. Instead, he asked Li Zehua uncertainly, "Mr. Li, are you sure you can give QQ Space such a high valuation?"

People are attracted by benefits, and no one can refuse the transfer of tens of billions of benefits, especially for a master of capital operation and corporate mergers and acquisitions, even if it means poison is hidden under the honey.

He also wanted to taste it first.

Only Zhang Zhidong reacted instantly. He stared at Li Zehua's face, not missing any movement. He wanted to observe his true purpose through details.

Li Zehua did not hesitate at all. “It is no exaggeration to say that no one in China dares to play tricks on Tenda without bearing any consequences, as long as I still want to stay in the Internet circle.

They would not dare to do anything irrational that would harm the two companies in such a major strategic cooperation project.

As long as Mr. Ma agrees to fully open the QQ space, I can make the decision here on the spot that Pinxixi is willing to sell at least 8% of its shares and introduce Tenda as a strategic partner.

Before going public, it facilitated the merger of Pinxixi group buying network and Tenda group buying network.

Of course, when signing the cooperation agreement, Tenda must ensure that it will make a deep separation from its group buying platform. Tenda can continue to entrust a third party to operate it, but it cannot intervene in the name of the public. "

Xiao Ma Ge was thinking and Liu Zhiping was considering.

Zhang Zhidong's eyes lit up. He took a few steps back and said to Xu Chenye in a voice that was barely perceptible to others:
“Send all the content we just discussed to the planning department and tell them that the board of directors is waiting for the final calculation data. If we use the traffic of QQ Space to fully support the group buying platform.

What effect will be achieved? "

Compared to an outsider, Zhang Zhidong is more willing to believe in the benefits he will get if the QQ space is really as good as the other party describes.

Then why not use it to support your own group buying platform?
Pinxixi is asking for a valuation of US$45-55 billion. 8% is more than US$4 million, and Tenda will have to put up more than US$ million in cash.

But on the other hand, if this nearly 10 billion RMB was invested in its own group buying platform, with the full support of Tencent, could it develop into the scale of Pinxixi?

One is to acquire shares and obtain huge advertising contracts, thus stimulating the investment market in disguise, but the bulk of the profits remain in the hands of the other party.

One is that you hold the goose that lays golden eggs, providing the group with a steady stream of huge profits. Is there any need to consider which is more important?
Tengda's usual thinking of eating alone and leaving no way for competitors became dominant again. Xu Chenye did not hesitate at all. He said hello, turned around and left the office and went straight to the planning department.

He needs to get accurate estimated data in the shortest possible time, which will determine the group's next strategic direction.

Fortunately, Tengda has plenty of time to respond.

Li Zehua also understood this, so he acted more actively, trying to interfere with the other party's correct judgment, "If Mr. Ma doesn't mind, we can both sign a draft agreement first.

How about setting a specified time, such as three months, and depending on the agreed traffic delivery conversion rate, determine the actual value of the equivalent cash portion that Tenda will deduct through traffic support and other means? "

Liu Zhiping spoke first: "Tengda wants to exercise its veto power over the performance of the contract."

"How can this be?"

Li Zehua was surprised and said: "Boss Liu, you seem to think there are other variables in the cooperation between the two parties?
You have to know that this is the agreement that Tenda has always wanted to reach. It was you who said you would invest, and now it is you who say you will exercise your veto power.

Was the previous business trust all a lie? "

In fact, I am very happy. It is not my fault. It was you who set excessive conditions. Then when Pinxixi introduces other strategic investors next time, Tenda cannot blame you.

Brother Ma shook his head and said, "Boss Li, you are still too impatient. Such a big matter cannot be decided by me alone. The company needs to hold a board meeting to make a collective decision.

Only then can a clear answer be given. Before that, all the promises made had no signed agreements.

As you said before, Tengda is a listed group. We must carefully consider the attitude of investors in order to satisfy all parties. You don't want to make things difficult for me, right?"

"It's difficult, so don't do it."

Li Zehua wanted to flip the table, but his strength did not allow it. He could only keep this sentence in his stomach for the time being, and muttered on the surface:

"Then do it as soon as possible. Pinxixi's second round of financing can't wait. I'm waiting for the invitation for financing cooperation from Tenda at any time."

"Of course, out of a responsible attitude towards cooperation, I can make the decision and release some QQ space permissions for testing the prospects of cooperation with Pinxixi.

And better evaluate the actual commercial value of the QQ space. After all, once the contract is signed, if there is any deviation, it will also pose a huge risk to Pinxixi..."

As expected of Brother Xiao Ma, he speaks in a set way. I always feel like I have to thank him for being sold out by him...

(End of this chapter)