In fact, the core of this problem is not the time from discovery to decision-making, but the high valuation of Xiaokang is very high, so it is definitely not easy to make merger and acquisition decisions.

Although even if the valuation of Xiaokang after acquiring fresh food e-commerce is only 34 billion, which is equal to the transaction price of Baren Games, Baren Games’ transactions are made quickly and Alibaba responds quickly. But it should be noted that Baren Games’ valuation is very simple, because the product turnover and profits are there, and the copyright value is there. Regardless of whether Alibaba acquires or not, it will not increase or decrease.

As for Xiaokang, assuming the valuation is 34 billion, Alibaba must calculate whether it is the real value of 34 billion now, or after the merger and acquisition, it can only be worth 34 billion through Alibaba's empowerment? Or it may not be enough?

Therefore, no matter how fast the M&A case in Baren Games is, there is no big problem, and there will be no hidden pitfalls. It is very important whether the target has the temperament of cheating when doing M&A.

In comparison, Xiaokang's valuation is basically dependent on Chu Yuanxi's clamor for price, and it is full of scams. Alibaba made the decision so quickly. The difference here is so big, so this question is here.

At this time, Uncle Sheng was already in a hurry to finish the phone call with his brother's company, and then ran over. He and Lao Fan were also quite familiar with each other, but he didn't expect that the person was talking about Xiaokang instead of Baren.

When he entered the door, he happened to see Lao Fan smiled slightly and said, "We have always made decisions very quickly."

"This is too fast, right? I didn't realize that these functions are called socialization. You even made decisions. Are you too sensitive to socialization?"

"Insensitive or not." Chen Junsheng shook his head quickly, "We should not pay too much attention to what you Mr. Chu made. We are old friends, haha."

The laughter is very round, but I don’t know how sincere it is, and there may be a bitter smile. Because today, people in the venture capital circle know that the reason why Chu Yuanxi is so confident and has such a hard waist is because he holds the money of Alibaba. If Baren Games had no transactions at the time, then "Come to the Troubled Times" could still make money by hundreds of millions a month, but if he wants to spend 3.55 billion to survive in one go, Baren might have exploded.

Don’t forget that there is a pre_b that is also a bill for buying a mobile payment license. So, whether it is for payment or socializing, Xiaokang has to thank these two big guys in front of him, and for the care of his father! Lao Fan, who led the transaction and Chen Junsheng, who is in charge of domestic investment, has to be mixed with professional ethics.

Chu Yuanxi asked frankly: "Where is the price?"

Chen Junsheng and Lao Fan looked at each other: "We will pay 40 billion, how about it? Please believe in our sincerity."

Chu Yuanxi thought that there must be a fraud! No matter how you look at the bid, it is very reasonable, both higher than the valuation of 34 billion yuan, and not particularly high. Regardless of the slogan of 300 billion that Chu Yuanxi shouted back then, it is a quotation worthy of serious treatment.

However, things that are too reasonable always make people doubt, especially Chu Yuanxi knows how many places he has to have bad ideas along the way and can dig holes.

Entrepreneurs are not good at digging holes, and digging holes for themselves is not even considered new. The reason why pits are pits is because they are difficult to perceive before falling in. At least they have to go into the site for due diligence to feel that there may be pits.

So Chu Yuanxi felt something was wrong with this price at the time, but what was the problem?

Is it a problem of delaying as low as Li Jingfei? It is delayed in Xiaokang's next round of financing? This is impossible, because Xiaokang still has a lot of money at present. After all, it has raised 4 billion yuan at one time, which is still early to go to the next financing. In other words, since you have chosen this time, it is impossible that the same purpose will not be achieved.

Is it to get a glimpse of the well-off society? This cost is also relatively high, because Chu Yuanxi will definitely not allow anyone to come in for due diligence in the name of mergers and acquisitions. He did not even have full investigation authority to investors in the two rounds of financing, and only the investigation authority described in the roadshow was opened.

This also allows investors to check out financial reports on traditional commercial retail technology, such as well as well as well-off stores, logistics, supply chains, cash flow, etc., which is an area that is prone to financial fraud. The investigations related to mobile Internet are mainly limited to places such as dau, average customer price.

The pre-mover of mergers and acquisitions obviously requires a thorough investigation. A person as cautious as Chu Yuanxi must be free of talks. Others don’t know, but those who have bought Baren Games still don’t know?

Therefore, it is highly likely to invoke the process and terms of the M&A of Baren Games. After signing the contract, the first money will be transferred first, then the delivery will be paid. After the delivery, the second money will be paid. After the payment, the money will be paid. After the due diligence, as long as Xiaokang itself is honest and the data reported is true, the acquirer will withdraw the merger and acquisition and the first two money will not be refunded.

This method will cost more than 20 billion to see the reality of the well-off society. Alibaba will definitely not be crazy. Chu Yuanxi is crazy. Alibaba will not be crazy, and it is impossible for san to fall wildly. You should know that Alibaba is extremely cautious in foreign investment this year. In the first four months of today, Penguin Investment in China took more than 30 times, but Alibaba only took three times. Both companies have their own ways of playing.

Alibaba is so expensive now that it is hot, but it is not in a hurry to place bets. It is very stable and absolutely impossible to be crazy. In fact, the more powerful the company is now, the more it pays attention to one thing, that is, grabbing people. Many companies that are still alive are searching for real talents on the battlefield. Even geniuses may not be able to turn the tide under the huge waves, and they are in a state of being able to use it as the company falls or strategic layoffs.

The same is true for Xiaokang. Liu Lu is even more excited than usual because the chance of getting talents online is higher. Among the people she interviewed recently, 30% of the people she has served as executives of well-known startups, and the high quality of the interviews has refreshed the historical market. This is also another version of "People are afraid of me and I am greedy."

In short, if Alibaba is not crazy, how can we eliminate Xiaokang's pit? By believing in Chu Yuanxi's character? Chu Yuanxi himself doesn't believe it! Before the explosion of the small blue cup, it was called "The Light of the Nation", isn't it much more credible than Xiaokang's?

There is another way to rely on the insider. However, Xiaokang's business is too complicated. No one on this planet plays like this. Unless Yuan Lu is an insider, other insiders will never be able to help others eliminate the possibility of cheating. Like Hao Yi, they don't even have the qualifications to be an insider.

As for what makes three-quarters of the finances fake by relying on one coo? Sorry, Xiaokang has no coo.

Quickly eliminate all the impossible options, and even if the only possibility seems unreasonable, there is only one answer! Thinking of this, Chu Yuanxi blurted out: "I believe in your sincerity, but you must have started to copy the village well-offs within you. Now you can't copy the village, right? So you plan to solve the problem by relying on money. Ha!"

It is rather ugly to say that copying is a bit ugly, but people have copied themselves, so why should they avoid it? There is no need. The higher the level, the less hypocrisy is, because hypocrisy is meaningless. As soon as these words were said, he immediately began to meet. As expected, Lao Fan's face was a hint of embarrassment, and Chen Junsheng managed his expression very well, and he deserved to be responsible for investment.

So Chu Yuanxi turned his firepower to Chen Junsheng: "With my years of experience following Jack's pace, there must be something strange about this! Let me guess, well, it must be because of the data, right?"

Chen Junsheng was finally moved.

Chu Yuanxi chased after him, first like a silly hahahaha, and then said, "We are all old friends, not outsiders, so I asked directly, when did we start doing it? Which function of Xiaokang has you liked?"

Lao Fan was quite a bachelor, and he didn't defend himself when he was captured on the spot, saying, "It's probably after the city treasure is launched and before the AI ​​team leader goes online. You send business to the Magic City to find Lao Hou's previous affairs. I heard Lao Hou say that they received your cooperation email. When they saw the function description, they were moved, and then they started to do research and development directly."

Uncle Sheng squatted in the corner and added silently: "It's time to start making a copycat."

Although he didn't know much about Xiaokang, Xue Ming's incubation and entrepreneurship is a major event for Baren. He, the senior vice president, could not ignore it, and he talked to Xue Ming. Therefore, he learned from him that Xue Ming had been anxious about Chu Yuanxi's Xiaokang's possible counterfeiting by a giant. He never expected that he would see Chu Yuanxi grabbing a counterfeiting together today...

Chu Yuanxi said that she started to copy the village with the hippo before Cynthia went, and then chatted and laughed with Aunt Cynthia. No wonder she felt so successful that she felt incredible. It was indeed worthy of being an old world!

"Okay, I don't think it's suitable to continue talking about this matter today. Let's have a meal together?"

"No, no, no, no, no..." Chen Junsheng waved his hand quickly and felt like he was returning home. Why is it not suitable to continue the negotiation? Because the price is definitely not suitable. Both parties know this price in their hearts, and it is not based on the valuation of Xiaokang. Even if they do mergers and acquisitions or privatization and delisting in the open market, they still have to give a premium. Now the two parties are completely unequal.

However, Uncle Sheng didn't understand. Why did he feel like Chu Yuanxi's attitude and did not seem to refuse to talk about selling himself in a well-off society?

Chu Yuanxi was perfectly guessing the other party’s trick, so he avoided being a little proud at this time. He first made a series of hehehe, and then took advantage of the victory to chase: "You have to hurry up, I guess the yellow group is coming soon."

Lao Fan was immediately dissatisfied: "What do you think the yellow buns are for? Do you think they are acting faster than us? Why do you think we should pay so much attention to you?"

"What?" Chu Yuanxi really wanted to laugh.

It is far worse than the Yellow Group of the Earth and Alibaba. The premise for Alibaba to do this is to do it quickly and not give others time. Others include both well-off and other giants. If you don’t pursue time, Alibaba can do it slowly. It will be almost done for half a year. The rest is promotion and operation, which will take you for a year. This is the strategic window period calculated by Chu Yuanxi.

This is a fundamental difference from the original world. The original world is well-off without paying, and goes straight to socializing, pushing socializing through surprise, using a chain of ultimate moves.

This means high danger and low success rate. Walking on the tightrope does not mean that you can go through it. Therefore, this time Chu Yuanxi did not choose to raid, but developed step by step. As long as the year-long strategic window period is used, the giants will not be able to catch up.

As for Huang Tuan and Chu Yuanxi, he felt sorry. Huang Tuan would never be able to do it. Whether or not he has enough time is not the decisive factor unless the existing business model is changed. Huang Tuan wants to do local life and social interaction, and the only opportunity is to acquire Xiaokang.

The problem is that Huang Tuan is very busy now. He is now in power banks, is planning to deploy fresh food e-commerce, and has also made user trust points. This is to upgrade products that lend to users, but his mentality seems very anxious.

Of course, anxiety is not wrong, especially when it comes to MT. Penguin Ali’s two bosses, the MT in front of Penguin is 5g news, and there are more MT in front of Ali, and you can almost form a tank group, Pinduoduo, Huang group, and Big Dog Dong line up.

However, the strength of Alibaba's foundation lies in its ability to attack from multiple ways, fight hard, step on the big dog, and have the time to send a brigade of partial troops to redirect the rear of the Yellow Group to harass it. That is, hello, he started to eat, drink, have fun, and borrow money to save money.

The last four words were taken out by Hello with the background of Alibaba. How could Huang Meituan not be anxious? It was simply that Hu Chuankui met Japanese invaders on the shore of Yangcheng Lake and had to shoot even if he didn't want to shoot.

After seeing off Lao Fan and Chen Junsheng, Chu Yuanxi had to have a meal with Uncle Sheng, while listening to him report on the progress of the crew. Uncle Sheng quickly finished reporting and immediately asked: "Do you really want to continue to discuss the acquisition of Xiaokang with Lao Fan?"

"It's just a slowdown." Chu Yuanxi said that if the giants' reactions were really so fast, the strategic window period of Xiaokang could not be calculated from the launch of AI group owners. At least one month forward, starting from the treasure of the city. For Xiaokang, time is life, and this month may become the key, so it's not enough to delay one day, and it's okay to involve Alibaba's energy.

Malicious investment can be required to exclude it, and then after a half-year talk, I will not invest anymore, so why can’t I delay when I am acquired? We are very sincere, but we are just dissatisfied with the price. The problem is that as long as the well-off society develops according to the plan, the asking price will become higher and higher, and there is no need to find excuses. The price mentioned before is time-efficient, and it cannot be as pleasant as buying Baren Games.

"Oh." Uncle Sheng continued to eat with his head down and asked after a while: "What happened just now? Why did you hit their vital points in one shot? I mean, how did you know that they had started copying a lot long ago. Is it because of data? What's wrong with their data?" Although he did not directly invest in Xiaokang, Baren has invested heavily. As a major shareholder who holds more than 5% of the shares, he is of course qualified to care about Xiaokang's every move.

Chu Yuanxi was very calm and said while eating voraciously: "No, it's just that there is no data, so it's impossible to copy it."

"Then I don't understand even more. Why did they launch a copycat at the beginning without even data?"

"Because, I'm talking about cycling data. At first they thought they had cycling data." Chu Yuanxi couldn't help but slap in a few bites of the meal when he was proud. The work meal that was not delicious usually became delicious.

So Uncle Sheng was completely confused: "Ali has bicycles and stores, do you think their data is not good?"

"It's a great blessing. I just happened to bet right. Their data is not good." Chu Yuanxi felt that his waist was no longer sore and his kidneys were no longer hurting, as if he was five years younger.

"There are more people who want to replicate the well-off society. If the customers opened a small shop but did not open a big shop, they would be able to replicate the well-off society. But it was useless. The key cycling data will not be saved until the new function of Xiaokang is launched. Note that I am talking about the riding trajectory data, the focus is on saving the trajectory rather than starting and ending positions. Hippo and Huangtuan want to replicate it, okay, it is actually easy to set up projects, who can't copy homework? But when I copied it, I found that I didn't bring a calculator, so I have to calculate it a little bit, and you understand?"

This is no longer a secret now, because competitors undoubtedly already know that this key data is not in their hands and they have to collect and save it from scratch. Only those who eat melons like Uncle Sheng are not clear about it and will regard it as a melon.

Is this job difficult? It is not difficult or difficult, but it takes time. How to use and how to mine this data? How to cooperate with stores, there are still many pitfalls to be stepped on for inexperienced people.

"Damn, the riding trajectory data...is so important?"

"Of course, it seems that they will save trajectory data. Do you think Harrow, Huangtuan, and Xiaoju are so idle that they can save data they don't need? What do they do when they save it? Do you know how to use it? Just like you don't need to practice the Dragon Slaying Sword Technique, there is no dragon in the world. But Xiaokang now announces that the dragon is here, and the Dragon Slaying Sword Technique can only be practiced from scratch."

Chu Yuanxi said that he had already opened Weibo and was about to post one. After thinking about it, he was not very kind and too arrogant, which was not conducive to continuing to develop in a low-key manner, so he put away his phone again. After all, he hid behind the mts and frantically outputted the kingly way.

In fact, doorkeepers are typical, because after a while, their efforts to place bicycles have dropped significantly, and their operations are extremely loose, and they basically regard bicycles as advertising tools. Xiaokang maintains its efforts to place them, and its operations are very powerful. Luo Rong, who was responsible for the operation at the annual meeting, was almost promoted to vice president, but he missed the pole position because he was guilty and did not recommend himself.

So the doorkeeper is a typical example of copying homework and only copying visible parts. I believe that some forces should be visiting the doorkeeper during this period, right? Chu Yuanxi now wants to ask Li Jingfei, do you know why you want to take a bicycle? If you don’t know, will you keep your cycling trajectory?

Huangtuan is even worse than opening customers. It is beneficial for Alibaba to establish this set of data. Not only are there Hippo’s large, medium and small stores, Hello Bicycles, and Gaode Map. Only stores and bicycles are available for customers, while Huangtuan only has bicycles. Although there are many platform merchants, they do not own stores themselves, and the map is not developed for similar purposes. Not only can it be compared with Gaode, it is even worse than the R&D expenditure of Xiaokang Map.
Chapter completed!