Following.

Sudirman Central Business District.

In the spacious and bright conference room, Zhang Yida introduced to everyone: "This is Mr. Huang Xiwen of Sinar Mas Group. ”

Huang Xiwen, who was standing next to Zhang Yida, was dressed in a high-end suit and was well-dressed.

He graciously stepped forward and shook hands with GoJek CEO Makarim, Traveloka CEO Fili, Tekopedia CEO William, and RPay CEO Anping one by one.

The four people, including Anping, had heard the name of Sinar Mas Group, and although they were a little surprised, they didn't ask aloud.

Zhang Yida continued: "This is Mr. Li Chuan of Lippo Group. ”

Li Chuan stepped forward and shook hands with a few people, and the expressions of the four were very exciting, especially the three Indonesians such as Makarim.

As soon as they looked at each other's Chinese faces and heard the surnames, they basically guessed the true identities of Huang Xiwen and Li Chuan.

Chaebol kids!

Looking at their curious looks, Zhang Yida beckoned a few people to sit down and said, "I called everyone together today to discuss the matter of increasing capital and shares.

Sinar Mas Group and Lippo Group are interested in taking a stake in RPay, and let's make the cake bigger together. ”

Filly and William's eyes lit up, they were both Chinese, so they were naturally closer to the Chinese. They are very happy to have this opportunity to catch the line of the two major Indonesian Chinese chaebols.

Makarim is different, he was born in an indigenous political family in Indonesia, and he believes that his identity is no worse than the two, or even more noble.

He speculated that Zhang Yida's move to win over the Chinese chaebol may weaken GoJek's shares, which he could not tolerate, but he did not say anything for the time being, and wanted to hear what Zhang Yida had to say.

Zhang Yida said: "I don't need to go into detail about the situation of Sinar Mas Group and Lippo Group, and everyone here should know it." ”

Zhang Yida turned his head to look at Anping again and asked, "Anping, you have also been working in Indonesia for half a year, you know the situation of these two groups." ”

"Know!" Anping's chick nodded like a peck.

Anping admired the boss even more at this time, even the two major Chinese consortia have pulled up the chariot of RPay, and the future is bright!

An Ping is an old man who joined Ruixiang earlier, he was originally the personnel and administrative manager of Ruixiang, and then slowly rose to the director of human resources and vice president of the group.

After the establishment of RPay, Zhang Yida transferred him, who had not been the general manager of the business group, to Indonesia and became the CEO of RPay, a holding subsidiary.

Ruixiang sent 70 or 80 Chinese employees to Indonesia, and they were not familiar with the place, so the personnel administration work was particularly important.

After Anping came over, he did a good job, whether it was a Chinese employee or an Indonesian employee, he was obedient.

Zhang Yida continued: "Among RPay companies, Ruixiang provides technology and models, and GoJek, Traveloka, and Tekopedia provide application scenarios.

Lippo Group has dozens of banks and financial companies, and their participation will be of great help to RPay to develop richer financial services in the future.

In addition, Lippo Group also has many supermarkets and shopping malls, such as Matehali Department Store, the largest department store chain in Indonesia, Robinson Department Store in Singapore, Little John Department Store in Singapore, Marks & Spencer Department Store in Singapore and Malaysia......

The cooperation between Lippo and RPay will greatly enrich the offline use cases of RPay and expand its business to Singapore and Malaysia.

In addition to Bank Indonesia International, Sinar Mas Group also has a large number of hotels and property ......"

He Qingxuan, who was sitting on the side and listening to the meeting notes, was also very surprised when he heard Zhang Yida narrate the two groups.

Yesterday, she saw Li Chuan with such a big show, and after returning to the hotel, she searched for "Lippo Group", and the amount of information that came out also surprised her.

There is another Sinar Mas Group today, she guesses that it should also be a big chaebol, and she will search it after the meeting.

"In short, the addition of Sinar Mas and Lippo will greatly strengthen our RPay strength.

The most important thing we are lacking at the moment is time, and now a number of mobile payment companies have sprung up in Southeast Asian countries.

If we can't seize the market as soon as possible, what awaits us will be an endless business war.

Just like our subsidy war with WeChat Pay and Alibei in China, the annual losses are as high as hundreds of millions of dollars. ”

GoJek's CEO Makarim asked, and he asked, "According to Mr. Zhang's opinion, how will this round of capital increase and share expansion be carried out?"

Zhang Yida asked Anping: "Tell me about RPay's current operating data and valuation." ”

An Ping opened the folder on the table and read: "RPay currently has more than 5 million registered users and more than 1 million daily active users...... Operating income was $1.217 million and net profit was -$6.086 million.

Valued at $100 million. ”

"With only 1 million daily active users, it is valued at $100 million. Huang Xiwen objected.

Makarim glanced at Huang Xiwen and said, "Of the 5 million registered users, one user is only valued at $20, and I think the valuation is too low." ”

Li Chuan said to Huang Xiwen: "The key is that the existing 5 million registered users are all subsidized, and the future retention rate is not easy to say."

In terms of the number of daily active users, I think $50 is reasonable, which is the valuation of RPay at $50 million.

As far as I know, when RPay was established, the four of you only injected $5 million together!"

"Although only $5 million was injected in cash, Ruixiang provided various mobile payment technologies and patents, as well as a technical and operational team of 80 people from China," Makarim retorted. These are also resource inputs.

In addition, we at GoJek, Traveloka, and Tekopedia have been sparing no effort to help RPay promote it for the past six months, and we haven't even charged a penny for advertising.

These can also be counted as a resource input. ”

"Mr. Makarim, don't get excited. Even if these resources are converted, it is worth $5 million, plus $5 million in cash, and $10 million.

We are willing to give a pre-investment valuation of $50 million. In half a year, this has increased by 5 times!"

Li Chuan is also a top student who graduated from the Wharton School of Business, and he had a lot of arguments in the face of Makarim, a graduate of Harvard Business School.

Of course, Filly and William are also inclined to a valuation of $100 million, but they are afraid of offending the sons of the two major chaebols, so they also beat the side drum on the side, and most of the time remain neutral.

Zhang Yida saw that they were also discussing for a while, and they were at a stalemate, and proposed: "Just like this, both sides take a step back and value 80 million US dollars." ”

Zhang Yida's speech was very effective, Li Chuan and the two nodded in approval, Makarim still wanted to fight, but seeing Zhang Yida's impatient appearance, he was afraid of offending this GoJek investor and major shareholder of RPay, so he also made a fool.

After negotiating the valuation, Zhang Yida said: "Then let's talk about the scale of financing." RPay is a bit slow to develop, and I recommend a no less than $50 million injection in this round of funding. Guys, what do you think?"

Makarim, Filly, and William all nodded in agreement, and Zhang Yida said: "That's it, Ruixiang led the investment of 25 million US dollars, and Sinar Mas Group and Lippo Group each invested 12.5 million US dollars." ”

As soon as Zhang Yida's voice fell, Makarim objected: "No, GoJek also has to follow." ”

Feeley and William did not object, and were ready to sell the two chaebols for a face.

"How much do you want to follow?" Zhang Yida asked Makarim.

Makarim was a little embarrassed and said, "I want to invest $2.5 million in follow-up." ”

Zhang Yida frowned and said, "You raised a total of $5 million in the last round of financing, and you have already invested $850,000 in RPay.

You're investing $2.5 million this time, does GoJek still have development funds?"

Makarim looked at Zhang Yida with a firm gaze and said, "I want GoJek to launch a round of financing, and then take out some of the money to invest in RPay." ”

Zhang Yida also obeyed Makarim's operation and asked him: "Is it worth it for you to do this, which is equivalent to diluting Gojek's shares in exchange for RPay's shares?"

"It's worth it, because Gojek is currently valued at a higher rate than RPay, but I'm quite bullish on RPay and don't think RPay will be valued lower than Gojek in the future.

This "share swap" is not a loss for Gojek. ”

Zhang Yida glanced at Makarim, this head is very good.

"What is the current valuation of GoJek? Either Ruixiang will continue to invest in you for another round, or Ruixiang will help you out the $2.5 million, and you can convert the shares to Gojek for us. ”

Makarim thought for a moment and said: "In this way, Gojek is valued at $250 million, and I personally transfer 1% of the equity to Ruixiang, and the $2.5 million Ruixiang gives me, I will follow RPay in my personal name." ”

Makarim's abacus was well played. Gojek doesn't have the strength to play this kind of capital game at the moment, but he is very optimistic about RPay.

For Gojek, the dilution of his stake in RPay is almost a foregone conclusion, and he can't reverse it.

From his personal point of view, exchanging his personal stake in Gojek for a small part of RPay equity can greatly diversify the risk.

In the future, the success of both projects can bring him a good return personally.

He knew that China Ruixiang valued nearly $30 billion, and if RPay had a $18 billion valuation or market value in the future, he would be very content.

Even if Gojek does not develop smoothly and goes bankrupt, and his RPay equity is forced to repay his debts, it will not affect his personal RPay equity interests.

"Okay, I promise you. ”

For Zhang Yida, Gojek is only valued at $250 million, which is not expensive at all compared to the $10 billion valuation a few years later.

After the negotiation was completed, several people signed a letter of intent for investment, of which Ruixiang invested 25 million US dollars, Sinar Mas Group and Lippo Group each invested 12.5 million US dollars, and Makarim personally invested 2.5 million US dollars, totaling 52.5 million US dollars.

With the completion of the capital increase, RPay's valuation will be pushed up to $132.5 million.

Ruixiang's direct shareholding ratio increased slightly, from 49% to 49.66%;

The shares of the three founding shareholders of GoJek, Traveloka and Tekopedia decreased from 17% to 10.07%;

Sinar Mas Group and Lippo Group will each hold a 9.43% stake in RPay;

Makarim holds 1.89% of the shares.

At the same time, Ruixiang will also advance $2.5 million to obtain a 1% stake transferred by the other party, so that Ruixiang's shareholding in Gojek will increase to 10.1%.

Looking at Makarim, who was smiling, Zhang Yida sighed with emotion: This brother has made a good deal! He is worthy of graduating from Harvard, and he has guaranteed his income during drought and flood.

Zhang Yida has been worried that GoJek will go solo and launch its own mobile payment product in the future. I thought to myself, this 1.89% stake may also be difficult to tie up the other party.

Zhang Yida didn't bother to think about it, as long as RPay itself is strong, even if Gojek wants to fly solo in the future, he is not afraid, the first-mover advantage is here, not to mention that he has also won over two Chinese chaebols.

The worst, there is also a GrabPay, buy a double insurance.

Li Chuan and Huang Xiwen are also very happy, with Zhang Yida in charge, the prospects of RPay will not be bad.

After the meeting, Li Chuan said to Zhang Yida: "We Lippo have decided to invest 100 million US dollars in the third phase of the industrial fund that you are looking forward to. ”

Zhang Yida was a little stunned, and Li Chuan asked him, "What's wrong?

"No!" Zhang Yida waved his hand again and again, and said with a smile: "It's just that happiness came too suddenly." ”

"What are you talking about?" asked Huang Xiwen as he leaned over to the two of them.

"When it comes to the contribution of the industrial fund, we Lippo will contribute 100 million US dollars. What about your golden light, why don't you get 200 million US dollars?" Li Chuan teased.

"Oh. Huang Xiwen reacted and said to Zhang Yida: "By the way, my grandfather and my father want to talk to you in person." ”

"Speaking of which, my dad also graduated from Beijing University. It's still your senior brother!"

Zhang Yida smiled: "In that case, I'm not a generation higher than you." ”

Huang Xiwen was speechless.