Chapter 264: 30 million a month, wouldn’t that be 360 million a year?
At the east gate of Xuyuan, there is Shuangqing Restaurant.
"I didn't expect that Meituan, Dianping and Lashou.com would all bring the price war to Xucheng. Brother Sen, when will your Kuaipao takeout service be launched in Xuyuan?"
"Yeah, I also want to experience the feeling of lying in the dormitory and having food served outside before graduation."
Song Yang and Wang Zhengqiang looked at each other and laughed.
“Almost there!”
Chen Yansen held up the wine glass, took a sip and replied.
After gaining a foothold in Luzhou, Kuapao has already made plans to open a city in Hui'an Province. It is estimated that within less than three months, Kuapao's delivery riders will be seen near Xuyuan.
"Brother Sen, my girlfriend will be a senior next semester. She is a fine arts major. Can she intern at Pinbei or Orange Technology's design department?"
Song Yang turned sideways and asked in a low voice.
"Go report directly then."
Chen Yansen agreed readily.
"Thank you, Brother Sen." Song Yang hurriedly expressed his gratitude.
"Hey, Brother Sen, you're right. If you can't find a partner in your freshman and sophomore years, the probability of being single for four years of college will be as high as 99.99%."
Tang Zhenzhe, who was standing aside, looked at Song Yang and Wang Zhengqiang with envy.
Of these two guys, one is pursued by a senior schoolmate, and the other has a girlfriend who lives in another city. Only he, Meng Xibo and Zhu Xiaopeng are still single.
Chen Yansen smiled. He didn't expect that Tang Zhenzhe would fall into Su Meiling's hands again in this life. He worked hard to lick her for two years, but he didn't even hold her hand.
waste!
"Men should put their careers first and build their careers before starting a family." Meng Xibo interjected.
He works as the head of the customer department at Pinbei, with a base salary of around RMB 10,000. Including overtime pay, he is one of the top earners in the entire Xucheng.
"Okay, I don't know who the guy was who was chasing after my schoolmate last month under the pretext of a hometown association. He looks exactly like you."
Tang Zhenzhe pouted and joked.
"Hahahaha..." Zhu Xiaopeng couldn't help laughing out loud.
"What are you laughing at? You're also a single dog." Kent Tong spoke passionately on the microphone, scolding two people at once.
"You're talking nonsense! That girl couldn't find her way home, so what's wrong with me sending her home?" Meng Xibo's face froze, and he forced an explanation.
"Tsk——!" Tang Zhenzhe looked disdainful.
"In three months, another batch of fresh school girls will arrive. Brother Zhe, don't worry. If it doesn't work out, I will introduce my sister to you."
Song Yang stood up, filled everyone's glasses, and consoled them with a smile.
"Your sister? Do you have a photo?" Tang Zhenzhe became interested upon hearing this.
But when Song Yang handed the photo of his five-year-old sister to Tang Zhenzhe, the room suddenly broke out into laughter again.
Is he going to be a junior soon? Chen Yansen secretly sighed that the time in college passed by so quickly. Unfortunately, he had only tried the senior girls, but not the junior girls.
The other side.
Didi Taxi headquarters.
Cheng Wei looked at the little balance left in the account and said to the head of the marketing department: "The marketing expenses are being consumed too quickly, much faster than I expected. It seems that we need to raise funds as soon as possible."
"This money is well spent. We currently have 1,600 drivers and receive 80,000 orders per day, which is seven or eight times more than at the beginning of the month."
The head of the marketing department pushed up his glasses and answered in a firm tone.
Cheng Wei nodded, agreeing with the other party's argument.
Under the counterattack of Didi Dache, although Kuaidi Dache has occupied 60% of the market in Yanjing's online car-hailing market, its advantage is not obvious.
After the meeting, Cheng Wei called the contacts at Capital Today and Baidu respectively, and the core message was just five words: "I, Cheng Wei, will transfer the money."
"30 million, and you only spent one month?" Liang Zhixiang, vice president of Qiandu, asked in surprise.
"Mr. Liang, since we are competing with Kuaidi Dache for the Yanjing market, the subsidy will naturally be consumed faster," Cheng Wei replied.
30 million a month, wouldn't that be 360 million a year? Liang Zhixiang felt that the matter was serious. He thought that he had invested in a project for the sake of Today Capital, and because of the popularity of Kuaidi Dache and the potential demand for promoting Qiandu Zhijia, he allocated 30 million to Didi Dache.
But he never expected that the online car-hailing industry could burn 30 million a month! Thinking of this, he did not rush to agree, but politely refused: "I have to talk to my boss first, you wait for my news."
In his opinion, Cheng Wei is an entrepreneur who is not good at fund management, and a financial officer must be sent to keep an eye on him.
Arriving at the door of Li Yanhong's office, Liang Zhixiang thought again and again, and finally knocked on his boss' door.
"Come in!" A steady male voice came from inside the house.
"Boss, I have an investment project I want to report to you." Liang Zhixiang said nervously.
"Didi Taxi? I heard that there has been a fierce price war between Didi Taxi and Kuaidi Taxi recently. What's going on? Are you out of money again?"
Li Yanhong put down the documents in his hand and asked lightly.
"Yes, Didi Taxi burned 30 million a month. According to the current development trend, it will need at least 300 to 400 million a year."
Liang Zhixiang replied.
"It's just a few hundred million. Since Chen Yansen is so optimistic about the online car-hailing market, just play along with him. You can find a few more investment institutions. Qiandu can lead the investment, but we also have to consider the high risk."
Li Yanhong said calmly.
Little did he know that it was his style of not trying his best and not daring to go all in that made Qiandu always get up early but arrive late.
Qiandu Tieba could have been a trump card in his hand, but after a series of operations, it missed the entrance to the mobile Internet and became the turning point of Qiandu's decline.
In the ten years before and after smart driving, hundreds of billions of dollars were invested, but it was overtaken by new energy manufacturers such as Huawei, Ideal, and Zhiji.
More than a decade later, Open Ai became popular, and Qiandu was the first company to jump out and develop a large-scale AI model. However, a year later, its market share fell behind again.
With top-notch strategic vision and superb execution ability, it is not surprising that they fail over and over again.
at the same time.
Today Capital, Sustainability Asia and Hillhouse Capital also received the news.
Zhang Lei of Hillhouse Capital did not participate in Kuaidi Dache's Series A financing last time. He originally looked down on the online ride-hailing track, but after seeing that Kuaidi Dache had an average of one million orders per day and a turnover of over 20 million in just three cities, he regretted it.
Wang Qiong of Haina Asia has long noticed the two online ride-hailing platforms, Didi Dache and Kuaidi Dache.
As soon as Liang Zhixiang from Qiandu opened his mouth, she agreed without hesitation.
With the rise of mobile Internet, online ride-hailing, as a high-frequency and rigid means of transportation, may not have a high profit margin, but the market prospects are broad. Even if it only takes up half of the national market, the total annual revenue will not be less than 100 billion.
Worth the investment!
A day later, in the banquet hall of Grand Hyatt Hotel Yanjing.
Representatives of five parties, including Didi Dache, Qiandu, Capital Today, Sunet Asia and Hillhouse Capital, signed the Series C financing agreement.
Cheng Wei once again received 200 million yuan in funding, and the valuation of Didi Dache soared directly to 1 billion.
In fact, the valuation of Didi Dache is only 700-800 million at most.
But during the negotiation, Cheng Wei stuck to the price of 1 billion and refused to budge!
Therefore, after arguing for most of the day, the four investment institutions including Baidu had no choice but to agree to the valuation offer of 1 billion.
Liang Zhixiang was instructed by Li Yanhong, and Qiandu was the lead investor. After the negotiations became tense, he took the initiative to claim 60% of the financing share.
The voices of opposition from Today Capital, Sunet Asia and Hillhouse Capital gradually disappeared.
After returning to the company, Cheng Wei immediately convened a meeting of the marketing and operations departments to prepare to further expand the coverage of Didi Taxi to Chaoyang, Dongcheng, Xicheng and HD districts, and to include all core areas within the Fourth Ring Road into the business map.
In addition, it will increase subsidies for drivers and passengers and continue to compete with Kuaidi Dache for the market.
The next day, the news that Didi Dache received another 200 million yuan in financing and started a subsidy war with Kuaidi Dache in Yanjing became a hot topic.
"I envy Mr. Jing! Every day when he wakes up, he first has a bowl of Lao Yanjing bean juice, and then calls a free online taxi."
"Who says it isn't? Oh my god, this is the real deal!"
"When will Didi Taxi and Kuaidi Taxi be available in Hong Kong? I also want to take a free taxi."
Netizens were discussing the issue in the comment section.
Seeing these messages, Cheng Weixing felt extremely annoyed, but helpless.
Who made his acquisition strategy fail? Cheng Wei was also lucky, first he hooked up with Capital Today, and then he was spotted by Baidu.
You know, in 2012, Baidu was an Internet giant with a market value of over 50 billion US dollars.
Even if there is a little money left in their hands, Didi Dache can compete with Kuaidi Dache for a few more months.
However, after Cheng Weixing finished dealing with the affairs in Yanjing, he handed over the subsequent work.
Kuaidi Taxi's plan to open new cities in Anhui Province, Jiangsu Province, Jiangsu and Zhejiang Provinces has been completed, and it will expand from the provincial capitals to the surrounding urban areas.
The Yanjing market is important, but the layout in the East China region is more important.
When Cheng Weixing left Yanjing, Cheng Wei, whose wallet was bulging, started driving Didi Taxi like crazy.
The service area was expanded more than ten times in one go.
After the two companies competed in subsidies for new customers, they started to work on subsidies for old customers. Didi Dache was the first to issue 8-yuan taxi coupons with no threshold to old customers.
Kuaidi Taxi responded quickly, issuing a 10-yuan no-threshold taxi voucher to old users every day.
At this point, local online ride-hailing passengers in Yanjing can get a free ride almost every day.
For a time, the people of Yanjing were so happy that they had to call a taxi every day when they went out to buy groceries.
Taxi drivers are also happy as they can earn a few hundred yuan more every day. They wish the subsidy war between Kuaidi and Didi Dache could continue for the rest of their lives.
But a happier group of people were hiding in a residential building on the outer ring road at this time. Brother Hui pushed open the door of the studio carrying a sack of cash.
"Fuck! So much money?"
"Brother Hui, I'll help you carry it, don't tire yourself out!"
"Get lost! Stop for a minute! Pay your wages first!"
Brother Hui grinned and shouted to the remaining four people.
Ever since Didi Chuxing started giving coupons to old users, they have been making money even faster.
The highest profit was 80,000 to 90,000 yuan a day. In about 20 days, they earned more than 1.3 million yuan.
"Six sons, eighty thousand."
"Chaozi, 130,000."
"Yaozi, ninety thousand."
"Ah Zhen, one hundred and twenty thousand."
Each person had a stack of money. Brother Hui arranged the money neatly and pushed it in front of the four people.
"This is the first time I've seen so much money in my life." Chaozi is a young man with a flat head and a round face. He holds the money in his arms with an intoxicated expression on his face.
"Okay, hurry up and make money! Didi Taxi has raised another 200 million yuan. Boss Cheng eats the meat, and we can also have a share of the soup, haha."
Brother Hui said proudly, with a cigarette in his mouth.
Didi Chuxing’s risk control mechanism is full of loopholes, and it can even be said to be completely defenseless.
There are actually quite a few people like Brother Hui, it’s just that his is the largest.
Cheng Wei never imagined that about 20% of the money he spent on marketing and promotion was taken away by gray industry studios.
When a punch is thrown, its power is reduced by 20% before it hits the other person.
The subsidy war between Kuaidi Dache and Didi Dache lasted from early May to June. There was no skill involved, they just spent money blindly.
But as time goes by, users who have a rigid demand for taxis gradually find that in terms of service level, Kuaidi Taxi is better.
First, accurate positioning. Unlike Didi Taxi, the system sets the departure point on the viaduct even though the passenger is under it.
Second, there are abundant driver resources, quick response to orders and short waiting time; third, reasonable route planning reduces congestion and travel time.
What is more important for drivers is that the more orders they receive for Kuaidi taxis, the more money they can earn.
After Didi Dache’s financing, it no longer lacks funds, but its internal strength is far inferior to that of Kuaidi Dache.
The market share is decreasing instead of increasing!
Cheng Wei finally realized that something was wrong. The subsidy war had to be fought, and the Didi Taxi App had to be optimized and upgraded, otherwise it would not be able to fully demonstrate its strength.
Didi Dache, which has sufficient funds, began to recruit more people and speed up the expansion of its technical department.
(End of this chapter)
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