Winning the new financial era

Chapter 70 The Importance of Controlling Interests

On May 2014, 5, Beijing University planned a cultural performance "commemorating the 4th anniversary of the May Fourth Movement".

As a well-known alumnus and one of the sponsors of the event, Zhang Yida was invited to attend the party.

Robin Li and Dongfang Yu also came, sitting in the first row, next to them are:
Li Bing, chairman and CEO of Yiju, Sun Tao, chairman of Karaka, Zhao Wuquan, chairman of GreenFocus, Hou Bing, chairman of Gaowei Map, Wang Zhidong, chairman of Xinlang, Zhuang Bangxin, chairman of Xueeryou, and many other listed company leaders.

Zhang Yida sat in the second row, and the people next to him were:
Zhang Chenchao, the founder and chairman of Qunar, Tang Lin, the founder of Yiyindai, Yang Yihu, the founder of Renrenyouxin, Xu Yi, the founder of Meilihua, Wang Junyu, the founder of Wandoujian, Chen Hua, the founder of Singma, Xu Xu, the founder of Tonggou.com Dan, Liu Lan, the founder of Sugar Baby, and Fang Siwen, the founder of Snowball, are the chairman and CEO of start-up companies.

The seat arrangement is very knowledgeable. The first row is full of senior leaders, scientific research masters and business leaders of listed companies.

The second and third rows are the small bosses of Zhang Yida and his start-up companies.

It's okay to say it's a small boss.There are high-level ones with a valuation of US$30 billion, and middle-level ones that have been trusted by everyone, such as Meihua, and Wandoujian, which have received hundreds of millions of US dollars in financing;

Sing Well, Tick Recruitment, Sugar Baby, and Rolling Snowball, which were established later, have also received tens of millions of dollars in financing at this stage.

Zhang Yida was a little surprised. Why did Zhang Chenchao, a bigwig in the OTA industry, sit in the second row? Where did he go public in the United States last year, and now the market value is as high as 35 billion US dollars.

Zhang Yida walked to the second row, said hello to all the brothers and sisters, and then found the second row seat with his name written on it and sat down.

The first row is full of grandpas and aunts who are 50 years old and 60 years old.

The second row and the third row are almost all young and middle-aged people in their 28s.

Zhang Yida's youthful face is indeed a bit eye-catching here, he is definitely not more than 22, three years old.

Those who didn't know Zhang Yida asked the left and right: "Who is this kid? Is he the chairman of the student union?"

Those who knew the inside story jokingly said, "It's not the president of the student union, it's a small Internet financial giant.

Ruixiang Jinke, founded last year, just completed the US$5 million B round of financing led by Temasek some time ago. It is rumored that the valuation exceeds US$30 billion. "

"Hey man, I think he's only in his early twenties at most! Did he start his own business right after graduation?"

"His name is Zhang Yida, a freshman in the Department of History, only 19 years old."

"The life of cheating! Our honey baby only received a few million US dollars in Series A financing last November. Compared with this little junior, we are instantly scumbags!"

"It's really awesome. I'm still planning a C round of financing recently. The estimated amount is tens of millions of dollars. It's still promising in finance."

"Finance has a bright future, and that is big finance, such as banking, security and credit. Snowball has been established for so many years, and has been an investor exchange community. The valuation has not reached 4 million U.S. dollars. The C round wants to raise 4000 million Knives are difficult."

"Yihu, Brother Tang, how are you Renrenyouxin and Yiyindai doing recently? Internet finance is so hot this year!"

"Renren Youxin only raised the A round of 1.3 million US dollars last year, so it should be a big move this year!"

"What a big move! Burning money every day, I'm almost dying of worry. It's hard to make a profit! It's still Junior Brother Zhang's sharpness that is comfortable, and the advertising fee is soft."

"Yes! Yiyindai and Ruixiang have been cooperating on customer acquisition promotion last year. The advertising costs are burning my heart! However, I am very satisfied with the customer acquisition effect. From last year to this year, the investment users of Yiyindai have increased. Hundreds of thousands."

"Yiyindai, does Renrenyouxin have cooperation with Ruixiang? The two senior brothers should take care of my younger brother's Tiaogou.com. We Tiaogou.com focus on Internet job recruitment, and there is still a lot of room for cooperation with Internet companies. "

"Old Xu, there are dozens of Internet companies present. You will definitely gain something by handing out business cards one by one. I think it will work!"

"Yes, everyone's companies belong to all walks of life. We can indeed cooperate more!"

"Their gang of listed bosses set up the Peking University Entrepreneurs Club, which is a secondary branch organization authorized by the Peking University Alumni Association. We can also set up an organization for start-up companies! It is called the Peking University Young Entrepreneurs Association, for short "Beijing University Youth Enterprise Association."

"I think this will work. Everyone is alumni, and they come from all walks of life. Some are engaged in tourism, some are engaged in finance, and there are also industries such as maternal and child e-commerce, recruitment, application market, and entertainment. Everyone gathers together, If you have nothing to do, you can communicate with each other and complement each other with resources.”

……

Zhang Yida was sitting on the seat, next to him was Zhang Chenchao from where to go.Zhang Yida reached out to shake Zhang Chenchao's hand, and introduced himself:
"Senior Brother Zhang, hello! My name is Zhang Yida, and I'm from the Department of History."

Zhang Chenchao knew something about Zhang Yida, and joked with a smile:
"Hi, I'm Zhang Chenchao from the Department of Electronic Engineering."

Born in 1976, Zhang Chenchao is a math prodigy and entrepreneurial genius.

18岁保送北大，比罗宾李早2年开始做搜索，3次创业3次成功，24岁便赚到了1亿，8年就搞出了300亿的去哪里。

Zhang Yida was similar to him in some respects, and the two chatted happily.

Robin Lee in the front row turned his head to look at Zhang Yida and said:
"Junior Brother Zhang, congratulations to Ruixiang for completing the B round of financing! Next, we can deepen and deepen our cooperation with Qiandu."

"Hehe, Senior Brother Li. We can always advertise on your search engine. We will increase cooperation in the future, so you have to give me a discount."

Zhang Yida had dealt with Robin Lee before raising an equity investment fund, and he was fairly familiar with him, so they started joking around together.

"Haha, it's all trivial. When I go back, I'll ask the advertising department to re-sign a cooperation agreement with you, and the highest level of customer discounts will be given to you." Robin Li also replied with a big smile.

Zhang Chenchao turned his gaze aside and chatted with other entrepreneurs.

Robin Lee didn't greet him, and he just treated Robin Lee like air.

These small details fell into Zhang Yida's eyes, and the specific reasons were very clear to him who has many years of memory in later generations.

In 2011, Qiandu strategically invested 3.06 million US dollars in Qunar, and directly obtained 62% of Qunar's equity, while Zhang Chenchao's shareholding ratio dropped to 7%.

At that time, Qunar was in a fierce battle with Ctrip. Ctrip took out a price war of 10 billion yuan, and even if it lost money, it would kill Qunar, the second child, and eLong, the third.

Zhang Chenchao had no choice but to sign this sale contract with Qiandu.

In March and April this year, Qiandu wanted to match Qunar and Ctrip to merge.

As the founder and CEO of the company, Zhang Chenchao is particularly repelled and opposed to the merger with the sworn enemy.

In fact, at this moment in 14, the relationship between Qiandu executives and Zhang Chenchao has already cracked. There are two main reasons:
As a company controlled by Qiandu, Qiandu has no particular tendency to go where to go in terms of resource integration in the field of travel search, and has also taken a lot of content from Ctrip;

There is a certain conflict between Qunar’s hotel business and Qiandu’s map and group buying business;

More importantly, after Qiandu Holdings went to where, the communication with each other is still not smooth.

Qiandu is currently fighting fiercely in the field of O2O and video. It does not want to continue to "burn money" in the online travel field, but Zhang Chenchao insists on winning against Ctrip. As a result, Zhang Chenchao and the management of Qiandu are very unhappy.

Due to the above reasons, Zhang Chenchao didn't even bother to say hello when he saw Robin Li.

In 15, that is, next year, Ctrip will announce that it has reached a deal with Qiandu. Through the equity replacement with Qiandu, Ctrip will have about 45% of the total voting rights in Qunar.

Qunar has changed from a holding subsidiary of Qiandu to a holding subsidiary of Ctrip.Ctrip has become a holding subsidiary of Qiandu.

Where to go from a son to a grandson all of a sudden!
Poor Zhuang Chenchao, Qiandu and Ctrip have reached a transaction agreement in private, and he has been kept in the dark. He didn't know about it until a few days before the announcement.

The most ironic thing is that before cooperating with Qiandu, Zhang Chenchao said this in an interview:

"Will Qiandu restrict our development? It does not have this right in the legal field.

Qiandu is a very trustworthy company, it will never go back on its word, and it will do what it says. This is a very important reason why I like Qiandu very much. "

Thinking of this, Zhang Yida felt that the elegant uncle Robin Lee in front of him suddenly became much uglier.

But think about it, businessman!Maximize the benefits.

And where to go is not a company he founded himself, so he doesn't have any deep feelings.The transaction is still controlled by Qiandu, and the direct holding has become an indirect holding.

The right to control is still in hand, it just changed in a different form.Moreover, after Ctrip took over the world, the stock price skyrocketed, and Qiandu also made a lot of money.

From the moment Zhang Chenchao's shareholding ratio dropped to 7%, he was already out of the game.

Zhang Yida is a little bit emotional. Currently, he still holds 52.5% of the shares in Ruixiang, and his management and decision-making rights are still very stable.

But in the future, if Ruixiang wants to grow bigger and defeat the giants, it is estimated that it will have to accept multiple rounds of financing, and its shares will be further diluted.

When his and Lin Zhenyang's joint shareholding ratio falls below 10%, the voting rights will basically fall below 50%.

In this case, he has to be alert.

After all, no one wants to be swept out of the business they founded by themselves.

Capital is a double-edged sword. If used well, it can help companies seize the market and help them take off;

Tang Lin and Yang Yihu are organizing and planning to establish a "Beijing University Young Entrepreneurs Association".

Zhang Chenchao leaned over and listened to it, and he also agreed with it.He also recommended that they invite Zhang Yida to join the club.

Then a group of people told Zhang Yida the starting point of the establishment of the association and the direction of its future operations.

After listening to Zhang Yida, he also felt that he could join one.After all, this society cannot go it alone.

With such an alumni entrepreneur platform, everyone can help each other and complement each other in terms of resources to achieve a win-win situation for all parties.

After everyone reached a preliminary intention, they did not continue to talk in depth.

Because the theatrical performance is about to begin.

(End of this chapter)