Reborn Entrepreneurial Giant

At the beginning of the year, relevant domestic departments announced the establishment of pilot private banks. The first batch of 3 to 5 banks, it is impossible to be a sole proprietorship. Although the Internet giant is powerful, there are related accounts everywhere. What can he do? Try to find someone who is obedient and pleasing to the eye.

I won’t say much about the specific candidates. Jumei will lock its shareholding ratio at 33%. Not surprisingly, the name of this bank will be Qianhai Juzhong Bank. That's all that can be decided now. Du Jiuming needs to deal with all kinds of things after he arrives at his post.

When the time came to March, the two sessions were about to begin. Qu Li was in Yangcheng, watching online car-hailing, group buying, and food delivery battles. He never wanted to invest heavily in these three industries, even though he knew that the market value of Meituan was about 400 billion at its peak. Dollar.

Jumei arranged to assist the Dianping and Ele.me teams in the past. Some stayed and some came back. It was not Qu Li Aojiao, but Jumei was short of money. Unlike Ari, Baidu and Goose Factory, which had huge cash flow.

Jumei can be said to be the one with the highest revenue, the least profit, and the most money shortage among the major Internet companies. What if you go bankrupt due to lack of cash flow?

Whether it is its own brand, or cloud computing and search, Time Company, Jumei Financial Services, Jumei Logistics, including e-commerce retail, none of them cost money. In this case, should we invest in more profitable projects, or focus on improving the core competitiveness of the company?

No matter which choice you choose, there are risks. The former is to believe that others can succeed, and the latter is to believe in yourself, or think that the career you are engaged in is more meaningful. Of course Qu Li wanted to keep the opportunity for himself.

After finding a good CEO for Jumei Financial Services, Bian Liang, Jumei’s CFO, approached Qu Li to discuss the company’s financial issues. It’s not that they couldn’t see the opportunity, but that they had more energy than they wanted. It is necessary to maintain a healthy financial situation. , is related to the long-term interests of the company.

So Bian Liang wants Qu Li to tighten his support for Didi Taxi and stop burning money.

"How can I do that?" Qu Li will not lose the big because of small things. Supporting Didi Taxi is not the key, but mobile payment is. WeChat payment has strategic value.

One side is the requirement of institutionalization, maintaining a healthy financial situation; the other side is the need of the company's strategy, regardless of the cost of investing in a project, or a batch of projects. The two are contradictory and seem reasonable.

Qu Li didn't know whether Bian Liang wanted to leave a small bug in Jumei's management system, or whether it was his responsibility. He had to find a suitable method and reason.

"Why do we invest in Didi, Dianping, and Ele.me? What is the purpose of the investment? Is it to make money or to achieve a specific purpose? Is there any other better way to achieve this purpose?"

Qu Li and the others convened a high-level meeting of Jumei to resolve some doubts. Some people in Jumei Group hope that the company has no boundaries, and some people hope that the company will set boundaries for itself and not expand infinitely. Qu Li has no idea. If it is really necessary to restrict, should the business of Xiangyun and other self-owned brands be restricted? What about time?

WeChat payment is related to Jumei Financial Service and Shiguang WeChat. It will be promoted step by step according to the normal method. It will take a long time and the difficulty will increase. Just like UnionPay's cloud flash payment later, such a powerful company with a state-owned enterprise background did not cause substantial damage to WeChat Pay and Alipay in the end.

Therefore, in the meeting, the strategic value of WeChat payment was first determined. It is difficult to say exactly how much resources will be invested. The main purpose of investing in Didi and other companies is to enrich the application scenarios of mobile payment, and then consider the investment income.

In general, Qu Li's goal has been achieved, but his rights have been restricted again, and it is not known whether he has lost or gained.

Just when he was struggling, Meituan Wang Xing came to Yangcheng.

Wang Xing is not easy to evaluate. As a rich second-generation serial entrepreneur, even if it is only in 2014, he is undoubtedly very successful in business.

Wang Xing listened to Qu Li's advice, and brought in a professional media editor-in-chief to review the content, carefully maintaining the balance, and letting other Weibo products die without a problem.

However, anyone with a discerning eye knows that Wang Xing has great ambitions. Before Weibo won the final victory, he entered the group buying market and introduced external funds to operate independently of Weibo. This is a compromise he had to make when he wanted to learn from Qu Li, but the investors objected.

Now that the war of thousands of groups is coming to an end, there are basically only a few group buying websites such as Meituan, Nuomi, Dianping, and Ari’s restarted Koubei. Because of Qu Li's relationship, takeout food has entered the sights of Meituan and Dianping very early, and Baidu Nuomi seems to be doing takeout delivery too.

In the group buying war, Meituan, which has higher execution ability, has an advantage. Dianping.com is a "slow company", but the user advantage accumulated over the years is also difficult to shake. The stable financial indicators can be produced for a longer period of time. If it really needs to be consumed, The outcome is unknown.

Baidu Nuomi and Ali are not short of money. Dianping.com has Jumei behind it, and Meituan has Goose Factory behind it. This is the group buying market in the eyes of the general public. However, Weibo is the controlling shareholder of Meituan, and Jumei is the major shareholder of Weibo. Wang Xing wants to become a giant, and now the situation has become complicated.

After people from Jumei joined Dianping.com and Ele.me, they pushed for the merger of the two companies, using more frequent food delivery and less frequent group buying to impact Meituan’s more dominant third- and fourth-tier cities. This aspect is theoretically feasible, but the founder of Ele.me is also a rich second generation, and he is unwilling, and Dianping.com has a vague attitude.

According to feedback from Jumei employees: the teams of Dianping.com and Ele.me are "immature", "don't understand trade-offs", "don't understand current affairs", and "don't understand cooperation". Anyway, there are many problems. was poached.

The team of Dianping.com is not as good as Meituan, but the financial pressure is small. How much pressure is passed on to Wang Xing? Qu Li is not clear, but Wang Xing has invested in Jumei and introduced Goose Factory. He has seen the rise of WeChat. , Jumei has increased its support for Dianping.com, and has other thoughts.

"Doesn't he care about the opinions of the outside world?" Qu Li was very curious, whether this rich second generation really understands the sufferings of the world, or if he regards the "delivery boy" as a tool or resource, otherwise why he would rather accept criticism from others, but not Nothing changed or wavered.

"Wang Xing's purpose may be to obtain resources from Jumei, or it may be to mislead us and let Dianping.com miss the opportunity by the way..."

"We can't force Dianping.com, we only give suggestions..." Qu Li

"There are so many people staying, it depends on whether they believe it or not."

"..." This is a bit, uh, Qu Li doesn't know what to say, everyone is so complicated, there are many considerations behind every sentence and every choice.

"We want to end the group buying war as soon as possible, and start the decisive game of food delivery..." Qu Li has never made a mistake in his decision-making at critical moments, and this time is no exception. (end of this chapter)