Competitors messing around?

Listing on their own, if ofo bike-sharing companies are really messing with themselves, then they are not ready to go public?

If they are troublemakers, they will pay back tenfold!

Xi Ming's heart has been on a string, ofo is his biggest enemy of sharing bicycles, this enemy, in the end, either you die or I live, if you want to live, then there can only be one side to open up another front, otherwise sooner or later one of the two will disappear!

Xi Ming hopes that it is the latter, one of the two has opened up a new front, although Xi Ming does not like that opponent, but he can't be too lonely, there is healthy competition in the company with the opponent, but he really doesn't want to see the disgusting competition provoked by Dai Weiwei, such as making trouble behind the scenes.

The reality is.

ofo will inevitably make trouble, Dai Weiwei will not make trouble, but the big and small shareholders of ofo may not know who will make trouble in the future.

In addition to the malice from competitors, of course, there are other aspects, Huang Zhaoxi always talks about the most powerful point.

"Brother Rhino, your Xiongbai bike-sharing has attracted venture capital, and how many financings have you had?"

"Yes, we received angel investment from Sinovation Ventures, and we have raised money many times in the cash-burning war. ”

"Well, then you have to pay attention to which investors, from the acquisition to the exit, the investment cycle of venture capital institutions in a company is usually 5 years, and they hope to get several times or even dozens of times the return from it. After that, it is none of their business whether the company will immediately go out of business or build a long-lasting business. ”

"Their large-scale withdrawal, the stock price will plummet at that time is inevitable, but this is also an opportunity for companies to get rid of those jackals, more retail investors, will disperse future risks. Huang Chaoxi said sharply.

"I've heard the CEOs of some listed companies say that listing is actually a deal with the devil, is that what is the risk of stock price fluctuations?"

"Brother Rhino, what you said is also true, and it is not entirely true, first of all, going public is indeed a "devil's deal", which will force business owners to focus on short-term stock price fluctuations at the expense of long-term growth. Control of the company will also shift from the founders to thousands of shareholders who have never met before. ”

Huang Zhaoxi snorted wine, touched the handful of beard, and said sharply, "In addition, regarding the transaction with the devil", domestic companies implied a VAM agreement in the IPO process. This can make the founders very passive and even lose the company!"

Hearing this, Xi Ming's eyes moved slightly with different colors.

Looking at the different colors of Xi Ming, the corners of Huang Chaoxi's mouth flashed a trace of arc, "Brother Xi, have you ever signed a gambling agreement with other investors for sharing bicycles?"

"This is a VAM agreement with Sinovation Works. Xi Ming didn't need to hide, but said it directly.

At that time, Lee Kai-fu wanted to take 45 percent of the shares with an investment of 30 million yuan, and Xi Ming did not agree, and finally signed a VAM agreement with 10 percent of the shares.

"If you sign a VAM agreement, you should take a closer look at the agreement at that time, so as not to leave a big consequence. ”

"You know, because of betting, there are too many unpleasant things happening. ”

Huang Chaoxi rang another bell for Xi Ming.

In fact, the "gambling" of enterprises is a normal business behavior, which will bring incentive effects to the enterprise, but often some enterprises are eager to attract investment, overly optimistic, and unrealistically "gamble", and often end up being forced to go out.

Whether or not an enterprise accepts the VAM to the temptation of capital should be carefully decided according to its own reality. Profit-seeking is the nature of capital, and once the development of the enterprise does not meet expectations in the future, these venture capitalists will unceremoniously fulfill the VAM agreement.

At that time, because of the prophet, Xi Ming knew that the sharing of bicycles would be popular, and when sharing bicycles against the current, the sharing economy was a mess, but I didn't expect that after a year or two, Xi Ming didn't expect to turn off the fire so quickly, that small and medium-sized enterprises were really miserable, and it made people panic, and those brick beasts jumped one by one to shout that shared bicycles have no future, and shared bicycles are finished.

It is not they who have the final say, it is the users who have the final say, and it is the majority of shareholders who recognize the final say.

Now the sharing economy is very delicate, the prospect is not as broad as before, the blue ocean has entered a freezing period, even a frozen period, so many small and medium-sized bike-sharing companies have collapsed, so that the investment institutions have died down, those who follow the trend of investment, now have reaped the consequences, heavy losses, pants have been lost.

Investors now see that this is an industry monopolized by giants, and only a large enough scale can generate economies of scale.

Now the two major bike-sharing companies are supported by the two giants Tencent and Alibaba, like two giant ships, and the boats and rafts next to them have been capsized and sunk to the bottom of the sea.

In this environment.

The launch of shared bicycles carries treacherous clouds.

At this time.

"Brother Rhino, about the gambling in the capital market, I don't know if you have heard of the listing of Prince Milk?"

Prince Milk was listed, and Xi Ming was still studying on the university campus at that time.

At that time, he knew how to pay so much attention there.

Naturally, it is not very clear.

I really don't know.

So Xi Ming asked: "Could it be that the listing of Prince Milk has changed because of the bet." ”

"That's right, back then, Prince Milk and investors British Union, Morgan Stanley, and Goldman Sachs failed to gamble, and Li Tuchun, the former head of Prince Milk, lost his equity, and the society was in an uproar. Unexpectedly, it didn't take long for the three major investment banks to return some of their shares to Li Tuchun.

However, he also became a "vegetative person", lost control of the company, and basically lost the company.

Therefore, this kind of bet, the bet between the company and the big investment bank, if the economy is good, the profit and the stock price rise, both sides win, but the company still loses more and wins less than the investor. ”

"If you will share the bicycle listed in China, it is even better, before the listing, the Securities Association will require the emptying of those VAM agreements, clean listing, the China Securities Regulatory Commission has clarified including the listing time VAM, equity VAM agreement, performance VAM agreement, board of directors veto arrangement, enterprise liquidation priority compensation agreement and other five types of PE VAM agreements, for the IPO review of the forbidden area.

If you choose to list abroad, those VAM agreements are the existence of a blockbuster, and the original "VAM" agreement is a foreign product, and its professional term is the "stock index adjustment mechanism", which is mainly composed of equity VAM and cash VAM, which is essentially a form of option, and among overseas listed companies, VAM is a common operation. ”

"I still want to choose to be listed on the U.S. stock market. ”

"Hmm. Huang Zhaoxi didn't say anything about Xi Ming's decision, everyone has their own ambitions, even if they know that there are tigers in the mountains, they also go to Tiger Mountain, which is the courage of businessmen!

Compared with the Chinese stock market, the U.S. stock market has a longer development time, its system is more sound than China's, and investors are more global.