Huang Xiaofeng remembered one more thing and asked Zhang Yida: "Mr. Zhang, is Green going to do another round of private equity financing, or is he going to sell the company?"

Zhang Yida smiled, with a playful expression: "What do you think?"

Huang Xiaofeng is not good at expressing his opinion on this matter, so he can only objectively analyze Green's current situation.

"Although our business has expanded to three continents, dozens of countries, and hundreds of cities

However, the issue of profitability is always a difficult problem that needs to be faced realistically. ”

Zhang Yida focused on the zero, "That's right, none of the world's sharing economy companies have made a profit.

Whether it's Uber or Didi, it's all in a state of loss. ”

Seeing that Zhang Yida did not refute it, but agreed with his own point of view, Huang Xiaofeng continued: "Shared electric scooters are just a subdivision of shared travel, just like in China, there is Uber, and our imagination is very limited." ”

"Hmm!"

Zhang Yida made a nasal voice lightly, and his thoughts drifted far away all of a sudden.

Whether it is for himself or for Huimin to come out of filial piety, it is too late to enter the shared travel time.

There are giants such as Didi and Uber on this track, and no matter how hard they try, they can't reach their size.

With the continuous growth of Ruixiang and Zhonghe, he has learned to grasp the big and let go, and most of his energy is focused on these two companies.

Other companies are all transitional products. As long as the price is right, there's nothing you can't sell.

Huang Xiaofeng added: "In addition, most of the big cities in Europe and the United States are located in the northern hemisphere, and the cold and heat are obvious, and people rarely use scooters to travel in the cold season, so Green's actual operation is only half a year, and the income will be greatly reduced."

In addition, we have to face the endless methods of competitors such as Lime and Bird.

Although these two companies are not as large as us, they have also received a steady stream of financing.

They frantically put electric scooters at any cost, and we expanded to Europe, and they chased them to Europe, like a dog skin plaster.

Although there is no price war, it is also disgusting. ”

Zhang Yida sighed, although he asked Howard to attach great importance to these two competitors, he still couldn't stop the other party's rise.

It's just that compared with the market share of the previous life, the market share of the two companies in this life is more than half lower.

In terms of volume, the two companies together are less than half of Green's.

"Listen to the scooter is badly damaged?"

Huang Xiaofeng was angry when he mentioned this, he waved his hand, "The quality of Ou Mei Rao is like that, you can often see it on social media videos, some people will deliberately knock down rows of electric scooters, or throw electric scooters out of the parking lot......"

Zhang Yida sneered, "This is normal, there are strange things everywhere." ”

He doesn't feel distressed, the company is an American company, the employees are also Europeans and Americans, and the funds also come from Europe and the United States.

And he just provided a model or an idea, and he didn't pay a dime.

Although these bicycles are the property of the company, the destruction will also harm the interests of his shareholders.

But this kind of thing can't be stopped, foreigners are used to doing their own thing, and they won't change their bad habits at all after listening to your few appeals.

"Then Mr. Zhang, should we conduct another round of financing, or sell the company?"

Zhang Yida glanced at him, looked into the distance, and said slowly: "Sell it for a penny!"

......

"Sell Green?"

Green's CEO, Howard, rushed back to the company from South America and immediately heard the breaking news from Zhang Yida.

Howard couldn't figure it out, the company was in the golden period of development, and several opponents were left far behind, so why did he want to sell the company?

"Boss, our company is now valued at over $2.5 billion, and I'm thinking of raising a $500 million private equity round.

In the next two years of development, we can definitely list on the NASDAQ with a market value of tens of billions of dollars. ”

Zhang Yida waved his hand, "Howard, have you thought about the profit problem?"

After listing, how to maintain the stock price if you still lose money like now?

It is better to take advantage of the current golden period of the market and exchange the equity for green dollars. ”

Howard was silent, profitability is indeed a touching topic.

The shared travel market in the United States, whether it is Uber, which has the largest market share, or Lyft, which ranks second, all rely on financing and blood transfusion.

Uber was founded in 2009 and has not been profitable for nine years.

Rifle was founded in 2012 and lost $600 million for two consecutive years.

Green continues to raise money, and his stake will be greatly diluted, and it may not be as cost-effective as a one-time sale.

He owns a 1.2% stake in Green Scooter, and if he can sell the company at a valuation of $2.5 billion, this part of the option will also bring him more than $15 million after deducting the exercise cost.

Before the option is exercised, he can only give it up, unless he joins the acquirer and continues to work.

Thinking of the green dollar and Zhang Yida's iron-clad attitude of selling the company, Howard no longer objected.

Once the company's management agreed, Green began to notify shareholders.

When Son learned of the news, he quickly informed Uber's current CEO, Dara Kosrosasi.

Uber has erupted in a series of scandals in recent years, including X nuisance, discrimination involving others, driver complaints, and large-scale leaks of user data.

The founder, Kalanick, was ousted and replaced by Kosrosasi, a quintessential professional manager who served as CEO of Expedia, a U.S.-listed company.

Kosrosasi Investment Banker and former CFO, during his time at Expedia, he has made a series of beautiful M&A cases.

In 2015, the Board of Directors rewarded him with more than $90 million in total compensation for his performance, the highest executive compensation of any S&P 500 company.

The Iranian-American CEO, who immigrated to the United States as a "refugee" with his parents in his early years, almost jumped with excitement when he learned of Green's imminent sale from major shareholder Masayoshi Son.

M&A, he is the best at it.

He took over as Uber's CEO for only a few months, and he did several big things, such as reshaping the company's culture and apologizing to the public, and finally pulled Uber out of the scandal.

But it's all internal work.

He also needs to prove to the outside world and to shareholders that he has what it takes to lead Uber to expand its territory.

He was thinking about how to break the game, but Green came out with the news of the sale, and he was really sleepy and someone sent a pillow!

This shared electric scooter company has developed rapidly in Europe and the United States in recent years, and it is very popular among young people, and its operating data is also rising.

After the acquisition of Green, it can not only strengthen Uber's market share in the field of large travel, but also use Uber's resources to completely establish the hegemony of short-distance travel.

It has great benefits for the company's valuation.

Instead of acting abruptly, he called Didi's CEO, Chen Wei, and asked the latter about Zhang Yida and the details of the merger and acquisition of Huimin Travel.

After the call, Kosrosassi almost figured out why Zhang Yida sold Green.

This is an entrepreneur with lofty ideals, and Green may not be worth mentioning in his heart.

Seeing that there is no chance to become bigger, I will sell it casually.

Google and Lyft were also quick to learn about Green's imminent sale.

Unlike Google, which randomly sent an M&A team to participate in the negotiations, Logan Green, CEO of Lyford, attached great importance to this M&A team, and the M&A team sent was of a very high standard, except for him, the company's CFO and other people were all dispatched.

Lime, bird and other shared electric scooter companies also came to inquire through intermediaries, and when they heard the offer starting at $2.5 billion, they disappeared without a trace.

......

Silicon Valley.

Green sharing electric scooter within the company.

Google, Uber, and Lyfco were shortlisted for the final negotiations.

As CEO, Howard served as the host of the bidding auction.

He looked at the people from the three companies with a smile on his face and said, "The starting price of this auction is $2.5 billion, and the auction item is Green Shared Electric Scooter Company."

Only one offer will be accepted, and now please write your offer in an envelope. ”

Zhang Yida looked at this scene with a smile on the side, he didn't expect that such a person as Green would attract the first brother and the second brother of shared travel in North America.

Google's words, he guessed that it should be a soy sauce player, and the final candidate still had to be born between Uber and Lyft.

Howard added: "At the same price, cash is preferred." ”

Logan Green, CEO of Lyfford, said that it is not good, when it comes to cash, they can't compare to Uber, which has deep pockets.

In desperation, he wrote "$1 billion in cash + $2 billion in equity" on the paper.

$1 billion in cash is already the limit of what Rifle can afford, and any more will require another round of equity financing or leverage to borrow.

He felt like he had done his best, and if he couldn't get the Green scooter, he would have to miss.

He thinks he has a relationship with Green Scooter, because his name Green is the same as Green.

At first, there were a lot of jokes in Silicon Valley, thinking that Green scooters were founded by him.

Google's representative was faceless and wrote "$2.5 billion in cash" on a piece of paper.

He thought about it for a moment and crossed it out again, changing it to "$2.62 billion in cash."

Khosrosassi seemed very confident, he just heard Howard's "prioritize cash" and understood that Zhang Yida was still the same Zhang Yida.

The young billionaire's favorite thing in M&A deals is cash, not company equity.

Although he was confident in Uber's equity value, he opted to fill it out in full cash just to be on the safe side.

Google has always had an interest in mobility and was one of Uber's early investment shareholders, holding more than 5% of the company's shares.

But a few months ago, the relationship between Google and Uber deteriorated, and Google's self-driving car unit sued Uber's self-driving company for patent infringement and misappropriation of trade secrets.

At the same time, Google also reinvested $500 million in Uber's nemesis Lyft and became a significant shareholder of more than 5% of Lyft's shares.

To make sure nothing goes wrong, Khosrosassi filled in "$2.7 billion in cash + $100 million in equity".

The three letters were collected and opened on the spot, Zhang Yida looked at it, and could only sigh that Uber was really rich.

"Congratulations to Uber, congratulations to Mr. Kosrosassi. ”

When the final results were announced, the Google representative shrugged his shoulders and left.

Logan Green looked disappointed, and shook his head and left, it seems that this Green really has nothing to do with him.

Kosrosassi smiled and shook hands with Zhang Yida, Howard, Huang Xiaofeng and others one by one.

Zhang Yida is also very satisfied with the price, mainly in the cash part, the number is very large, and Uber is very sincere.

As for the $100 million equity, ask SoftBank if it will accept it, and if it wants to collect it, it will sell all the part it has allocated to SoftBank.