Traffic in Indonesia is so congested that by the time the convoy reached the Sudirman Central Business District in the south of the capital, Jakarta, it was already three hours later.

Zhang Yida looked at the skyscrapers standing on both sides of the road, nodded secretly, and when he arrived here, he finally felt like the capital of a country, catching up with several second-tier cities in China.

The car stopped in front of a brand new office building, and the group got out of the car and went upstairs to Gojek's headquarters.

Gojek's headquarters is located on the 26th floor of the building, renting an entire floor, and the decoration is beautifully furnished, more luxurious than the offices of many Internet peers in China.

Zhang Yida asked Aluwei how much the rent was, and Aluwei told him that one square meter was 560,000 rupees a month, which was converted into about 250 yuan per square meter per month.

It's not much cheaper than the rent of a Grade A office building in Beijing, and Gojek spends millions of yuan a year on rent.

After Zhang Yida and his party entered Gojek, hundreds of programmers were still typing code in open workstations.

Zhang Yida took a few looks and found that most of the people had dark skin tones and should be indigenous. There are not many white-skinned Chinese, and only a few people are seen.

Entering a luxurious conference room, Zhang Yida met Fili Yunadi, the founder and CEO of Traveloka, the Indonesian version of "Ctrip".

and William Tanuviaya, founder and CEO of Tokopedia, Indonesia's version of "Taobao".

These two can also see their appearances, their skin color is white, they are Chinese, and they should be Chinese.

From the Ming and Qing dynasties to the Republic of China, many Chinese in Fujian, Guangdong and other places chose to go to Nanyang to seek a living, which also formed the famous population migration in modern Chinese history - going to Nanyang.

These ancestors and their descendants who went to Nanyang seized the opportunities of the times while working their own, and finally gathered a lot of wealth.

Many Chinese have had a huge impact on the economy of Southeast Asia, changing the backwardness of their host countries and completely changing the fate of themselves and their families.

Zhang Yida knows that in traditional industries, the position of the Chinese chaebol in Southeast Asia is very important.

Unexpectedly, in the Internet industry, it is about to be monopolized by Chinese.

Indonesia's three biggest unicorns in the future, Chinese are either CEOs or co-founders.

Filly and William met Lei Dongming last time, and Lei Dongming negotiated the investment with them.

So Lei Dongming came forward to introduce the two parties, and Feely and William greeted Zhang Yida very warmly.

In their opinion, Zhang Yida is a local tyrant from China, a big financier behind the scenes, and the company needs a lot of help from the other party for future financing.

Not only did he talk in Chinese, but he also said that he wanted to take Zhang Yida to feel the enthusiasm of the Indonesian people.

After a few small talks, the Quartet began to get back to the topic.

"This time I came to Indonesia mainly for the purpose of setting up an e-wallet joint venture between our four parties.

On the way from the airport, I also chatted with Aluwi from Gojek and got a general idea of the current state of mobile payments in Indonesia.

To be honest, I think the mobile payment infrastructure in Indonesia is still very poor and very unpopular.

Improving this backward status quo is also conducive to the promotion and promotion of Gojek, Tokopedia and Traveloka in the local market in Southeast Asia.

In China, ride-hailing software, online travel software, and e-commerce software all use the latest mobile payment technology.

Basically, internet users in China have one or more e-wallet accounts.

To set up an e-wallet company, in addition to technology, we also need usage scenarios.

We can provide technical support to Ruixiang Group, and the three companies belong to the fields of taxi, e-commerce, tourism, etc., which can provide users with rich use scenarios.

However, three scenarios are far from enough, and in the future, e-wallets can also be expanded to offline merchants, restaurants, hospitals, public transportation systems, shopping malls, ...... and other scenarios.

In China, Ruixiang Group's Mobao Pay has more than 100 million C-end active users, and more than 10 million small and micro enterprises and merchants that provide use scenarios in B-side cooperation.

E-wallets are destined to be a big outlet, and the potential of the market is also large enough.

We have joined hands to become the first in Indonesia, and in the future, we can expand to the entire Southeast Asian market.

Three, let's talk about your thoughts too!"

After listening to Zhang Yida's words, all parties reacted differently.

Gojek's CEO Makarim frowned, e-wallets are indeed an outlet, but the four-party joint venture, each share is not much?

And of the four, Gojek is the smallest, with a valuation of less than $100 million.

In the case of a joint venture, you won't have much right to speak.

Traveloka's CEO Filly nodded in agreement with Zhang Yida's words, and many of Traveloka's businesses are limited by mobile payment technology and cannot be fully fired.

He has long heard of China's mobile payment technology, which is definitely among the best in the world.

If Ruixiang is willing to provide mobile payment technology, he is very supportive of the joint venture.

William, CEO of Tokopedia, with a smile on his face, asked:

"Mr. Zhang, I am in favor of this joint venture. How is this equity distributed?

I suggest prioritizing shareholders based on the valuation of each company!"

William's idea is very good, and the four companies here, in addition to Ruixiang, are Tokopedia, which has the highest valuation, which has reached $800 million.

Zhang Yida didn't answer, and he could see that Tokopedia wanted to be the second shareholder of the joint venture.

He didn't have much of an opinion on this, but set his eyes on Makarim and Fili to see how they both responded.

"Ruixiang Group is valued at tens of billions of US dollars, and it is the technology provider of the joint venture, so I have no opinion on it being the major shareholder of the joint venture.

But in the case of three of our companies, I would recommend that the equity be divided equally. ”

Makarim, who spoke, is more than 100 times larger than Gojek, and he is an important shareholder of Gojek, and he supports Ruixiang as a major shareholder.

Because not only advanced technology, but also a steady stream of money......

Although Tokopedia is valued at $800 million and several times larger than Gojek, how can it be?

Makarim believes that Gojek is no worse than any company, that the lag is only temporary, and that it will be a matter of minutes to surpass Tokopedia and Traveloka in the future.

is willing to share the equity equally with the two companies, and they are all worthy of them.

"It doesn't matter to me, it's okay to distribute the shares evenly or be the third largest shareholder. ”

According to Feeley, Traveloka's valuation reached $450 million after Ruixiang's investment.

For Traveloka, there is not much difference between the three companies in terms of valuation and the equal share of the shares.

"E-wallet companies, after the establishment of subsidies, is indispensable. Let's scrape together $50 million first!

If Gojek were to pay $10 million for the shares, I would agree to split the stake between the three parties.

What do you think, Makarim?"

William smiled, he is very clear about Gojek's situation, since its establishment, but has completed two rounds of $15 million financing.

Not to mention asking them to pay $10 million, it is estimated that it will be difficult to pay $5 million.

William's trick of using money to suppress people is really ruthless enough, Makarim's face is blue with anger, and he said:

"Need $50 million to set up a startup?

I would like to ask Mr. Tanuwiaya, how much money did you invest when you started Tokopedia?

As far as I know, Tokopedia was just you and your friend when it started.

Did you start with $100,000?"

William shook his head and said, "Yes, it was really difficult when I started Tokopedia, and I didn't have a lot of start-up capital.

But times are different. E-wallets are a money-burning business, and if you don't have enough capital, you're not eligible to participate in this game.

You ask Mr. Zhang of China, how much did they subsidize the mobile payment business of Ruixiang Group last year?"

Makarim turned his gaze to Zhang Yida, who was speechless, why did this war burn my side.

Zhang Yida thought for a while and said: "Mobao Pay lost more than 2 billion yuan last year.

But Indonesia's population is several times smaller than China's, and it can't lose so much.

And without a decent payment company as a rival, you can avoid a lot of losses. ”

Makarim and William argued at their own point and continued to argue about the idea of taking a little more stake in the joint venture e-wallet company.

What is the potential of e-wallets in the future?

Just look at Ruixiang Group and Leech Financial Services Group.

Electronic payments are a big gold mine, and they all want to be more divided.

In this case, Zhang Yida is also very embarrassed, it is not easy to pull the bias, it is too offensive.

Gojek is valued at $55 million, and Rui invested $5 million in the group, holding a 9.1% stake.

Tokopedia is valued at $800 million, and Ruixiang has invested a full $80 million, accounting for 10% of the shares.

As for Traveloka, it is valued at $450 million, and Ruixiang invested $50 million, holding 11.1% of the shares.

These three companies hold shares in the joint venture, which means that Ruixiang Group also indirectly holds a certain proportion of the shares of the joint venture company.

If it is a simple pursuit of shareholding, Zhang Yida simply supports Traveloka to take more shares, and Ruixiang indirectly holds more shares.

But that's not how the accounts are counted, in terms of development potential, Gojek > Tokopedia > Traveloka.

Gojek's growth is about to accelerate, and in less than two years, its valuation and user base will surpass Tokopedia's.

If Zhang Yida supports Tokopedia, he may offend Gojek.

In his previous life, Gojek launched a separate e-wallet company, GoPay, and became the most active e-wallet in Indonesia.

So Zhang Yida has a headache, the proportion of shares is less, and it is very likely that Gojek will start a new business in the future.

Without Gojek, the biggest unicorn in Indonesia in the future, it would be difficult for the joint venture to be the first in the local market.

At the same time, he had to consider the ideas of Tokopedia and Traveloka.

Gojek's current valuation and user base are not as good as the latter two, and putting the three in the same position is likely to offend the latter two.

Makarim and William continued to argue, and Zhang Yida interrupted them:

"Two gentlemen, pause for a moment. Let me tell you what I think!"

Makarim and William were still selling Zhang Yida's face, so they stopped the quarrel and set their eyes on Zhang Yida to see what he wanted to say.

"At present, the largest electronic payment company in Indonesia is Tcash, which is a subsidiary of a telecom operator.

I think several of you are very clear about the strength of a country's telecom operators.

In addition, it will be difficult to protect state-owned enterprises in the future, and whether foreign giants will enter this field.

If everyone fights separately, their respective e-wallet companies may be second- or third-rate.

We cannot be blinded by short-term gains.

If you think about the long-term vision, if we work together, we can reach hundreds of millions of users for the e-wallet company.

Your ride-hailing business, your travel business, your e-commerce business will all benefit.

With e-wallets, I think it's more convenient for a lot of people to use your platform's business.

It turns out that users who are not users of your platform may also be pulled to your platform because of convenience.

So, I suggest everyone take a step back. Shares are not immutable.

If anyone's platform develops better and brings greater development to the e-wallet company, he is eligible to increase his shares in the subsequent capital increase and share expansion.

Including Ruixiang Group, you can also not serve as a major shareholder in the future, and one of your three companies will serve as a major shareholder.

But there is a premise that the company he belongs to can bring a bigger and more promising development to e-wallets.

So, now it makes no sense for us to argue about this little bit of stake.

Arrange it this way!

The initial amount of money raised by the electronic payment company is set at $5 million, with Ruixiang contributing $2.45 million and the three of you each contributing $850,000.

After the development of product development and the first phase of promotion, we will continue to negotiate the shareholding ratio based on the contribution of each company and the development of our respective companies.

What do you think? Anyway, I think it's fair and reasonable. ”