sinovels Chapter 301 How To Choose?
Chapter 301 How To Choose?
Since its establishment in 1999, Ali has experienced three financings so far.
The first financing was in October 1999.
At that time, the number of members of Ali website, which had been running for half a year, had reached 41,000. After being rejected 37 times in the process of soliciting investment, Cai Chongxin’s joining helped the team implement the equity agreement of 18 Arhats.
And relying on the connections he had accumulated on Wall Street when he was the vice president of Ruidian Investor-AB Investment Company, he attracted Ali's first investment of 5 million meters.
The second round of financing was in January 2000, with RMB 25 million led by Ruoying, followed by Fidelity, Huiya, TDF and Ruidian Investor-AB.
at this time.
The number of members on Ali's website has grown from 41,000 to 100,000, coming from 180 countries and regions.
This financing was only 3 months after the first financing. At that time, Ali was not short of money, but to introduce more resources.
The reason is that Mr. Ma and others judge that the development trend of Longguo Internet and even global e-commerce may be declining. At the same time, the e-commerce direction has more development opportunities and requires heavy investment.
Ali needs to set a higher threshold for competitors in a short period of time, further strengthen its leading position in the e-commerce field, and take the initiative in the upcoming changes in the e-commerce landscape.
After these two rounds of financing, Ali has achieved rapid development, and a four-wheel drive team headed by Teacher Ma has formed within the group.
Mr. Ma is the CEO, Cai Chongxin is the CFO, Guan Mingming is the COO, and Wu Ling is the CTO.
The third round of financing was in February 2004, with RMB 82 million led by Ruoying, followed by Fidelity and GGV.
at this time.
Ali website has been rated as the best B2B website in the world for four consecutive years.
In 2003, the website's daily revenue exceeded one million yuan.
At this time, the rise of eBay and the invasion of SARS gradually changed people's shopping habits. Ali seized this opportunity and founded Taobao.com.
Moreover, Ali, Qiandu, Tencent, and Future Technology are collectively known as the "BATW" four giants in China, and they are extremely prosperous.
But in the year 2004, many major events happened.
The most memorable thing is that Goose Factory, an Internet giant in the domestic social field, fell apart overnight.
From being the top brother in the domestic social field, he became a street rat that everyone yelled at. He eventually had to give up the social field and enter the gaming industry.
As for Qiandu, due to the rise of Jisou Search, its position as the number one in the domestic search engine field is also in jeopardy, and it has to conduct an IPO more than half a year in advance.
undoubtedly.
In the past year, the most outstanding thing was definitely future technology.
Defeat the goose factory and become the social overlord at home and abroad.
Suppress Qiandu and become the newly emerging search engine giant in China.
Of the three giants, one has been completely defeated by the Future Group, and the other is lingering under the suppression of the Future Group.
The only one left, Ali, had nothing to do with future technology, so he stayed in a corner and was not suppressed.
But even so, Teacher Ma and other senior officials also have a very high sense of crisis.
so.
Starting from October last year, they seized on eBay's wrong decision-making in Longguo and launched a fierce pursuit of eBay.
At the same time, I saw that Yahu Dragon Kingdom was not accustomed to the local environment in China, and its business lagged far behind the three major portals and local search companies Qiandu and Future Group, so I had close contact with Yahu, hoping to obtain Yahu's search engine technology.
The purpose is to build Ali into an unshakable absolute overlord in the e-commerce field before Lu Yi sets his sights on the field of e-commerce.
Just after getting in touch with Yahu, the other party agreed to sell all the assets of Yahu Dragon Kingdom to Ahri, but the condition was that Yahu would buy shares in Ahri at a discount and become Ahri's largest shareholder.
This made Teacher Ma very wary and confused.
"Do you have any opinions on the four transactions proposed by Yahu?" Teacher Ma looked around and replied.
An Arhat said: "Jack's concerns are very worthy of attention. If we agree to Yahu's proposal, we will directly lose our position as the largest shareholder of the group, which is very detrimental to our control of the group. I think in this matter You have to be careful.”
Another Luohan frowned and said: "But we have to introduce new funds into the group. If we want to win the money-burning war with eBay, we have the only way to go: financing.
Jiang Fangdao: "Yahu has become the largest shareholder of the group, and our founding team may be seized of power. This must be taken seriously, but equally, we also need funds provided by Yahu.
“I think we can add a restriction agreement on the basis of this proposal to strengthen our team’s control over the group, thereby ensuring that even if we are not the largest shareholder of the group, we still have absolute control over the group.
"For example, 1. Although Yahu holds 40% of the group's equity, it only has 35% of the voting rights. The other 5% of the voting rights are exercised by us."
2. Among the four seats on the group's board of directors, our team has two seats, Yahu, as the major shareholder, has only one seat, and Softwin has one seat. "
"Third, we can agree that before a certain time, the board of directors shall not remove Jack from his position as CEO of the group under any circumstances."
Jiang Fang expressed her thoughts.
"I agree with Jiang Fang's proposal."
"I agree."
All the Arhats expressed their opinions one after another and agreed with Jiang Fang's proposal.
Regarding Jiang Fang's proposal, Teacher Ma's eyes lit up.
In this way, Yahu and Softwin can be prevented to the greatest extent from joining forces to calculate power and kick their founding teams out of the company's management.
Chong Xin, what do you think?"
Teacher Ma looked at Cai Chongxin and wanted to hear Cai Chongxin's thoughts.
It can be said.
Cai Chongxin plays an important role in the group like a military advisor and is Teacher Ma's indispensable right-hand man.
Cai Chongxin said: "Jack, do you still remember what we said after we went to the Future Group for exchange and study in February?" 977
These words made Teacher Ma look stunned.
React immediately.
How could I not remember!
At that time, he led a team to communicate with Future Group. During the exchange with Lu Yi, he was amazed by Lu Yi's views on e-commerce.
After leaving Future Group, during a discussion in the car, Cai Chongxin and others said that if Future Group enters the e-commerce field, it will be Future Group's most powerful competitor, far from being comparable to eBay.
"At that time, we were all worried that the Future Group would focus its attention on us and launch an attack on us after defeating Paiechang and Qiandu."
Jack, you said that if the Future Group enters our field, it will become our nightmare opponent. "
“At that time, I proposed that we could bring Future Group into our group and become a shareholder of our group, so that we could turn potential rivals into friends with interests tied together.
"I still have the same view."
“With this financing, we can bring Future Group in as a partner.
"They have just gone public and raised 7.2 billion yuan, so they are not short of money at all."
“At the same time, Future Group’s search engine technology is more advanced than Yahu’s search engine technology.
"The most important thing is that we can bring Future Group in to check and balance Yahu and Softwin. In this way, our team will still be the largest shareholder of the group."