I can become stronger by paying salaries. I have one billion employees!

Chapter 218 Transaction Price 45.8 Billion Yuan! Gaode CEO Candidate? (Double Monthly Tickets, Requesting Monthly Tickets!)

Sanwang Cafe, No. 18 Changsheng Road, Yanjing.

Hou Jun and Xiao Jun sat on chairs outside, gazing at the Gaode Maps headquarters building across the street, a hint of reminiscence flashing in their eyes.

Back then, Gaode was just a business unit of Datong Industrial.

The three of them purchased GPS navigation equipment from Japan, then localized the software that came with the hardware into Chinese, and finally added Chinese maps.

This was the initial prototype of Gaode Maps!

“At that time, I rented fifteen cars and drove all over Beijing with surveying equipment. Only after the map was completed did I realize that we didn’t even have surveying qualifications.”

Xiao Jun picked up his coffee, took a small sip, and said.

"I'm sorry," Hou Jun sighed, speaking sincerely.

Xiao Jun is the true entrepreneur among the three. He and his team spent more than half a year scanning the entire country before finally completing the first version of Gaode's national electronic map.

In terms of professional skills, he is the best among the three.

But when it comes to internal power struggles, Xiao Jun is no match for Hou Jun and Cheng Congwu, both senior executives who come from financial investment backgrounds.

He chose the track, and even the product name Gaode was bought by Xiao Jun from a friend.

But even as AutoNavi was about to be sold, Xiao Jun failed to become CEO, and his shareholding was the smallest among the three.

"Let bygones be bygones. To be honest, I used to think you were not a good CEO, but Cheng Congwu was even worse than you. After he took office, he not only did not think about doing business, but also targeted Gaode's old employees in every way. But I know in my heart that the person he wanted to target was me."

Xiao Jun waved his hand, speaking lightly, but a bitter smile appeared on his face.

"So it's good that it was sold! Look, how long has it been since we had a meal and chatted together because of this company?"

Two years ago, Hou Jun voluntarily stepped down from the position of CEO, partly for other reasons and partly to end the conflict between the three.

After all, he had worked with Xiao Jun and Cheng Congwu at Datong Industrial for many years, and he really didn't want things to come to the point where they couldn't even remain friends.

"It seems Cheng Congwu has spoken with you," Xiao Jun said with great certainty.

Otherwise, based on his understanding of Hou Jun, he would never have easily given up his stake in AutoNavi.

"Yes, Wu did contact me. Compared with Baidu Maps, Gaode has never had an advantage in data collection and integration. Coupled with its financial constraints, the map update speed is far slower than Baidu Maps. If this continues, it will be difficult for Gaode Maps' market share not to be overtaken by Baidu Maps."

"Why not take advantage of the high prices and sell it for a good price!"

Hou Jun remained calm and showed no intention of hiding anything.

"If you only think about making money and don't improve the core functions of the product, isn't it normal to lose market share again and again?"

Xiao Jun snorted coldly, seemingly recalling some unpleasant events, and retorted without any politeness.

Knowing he was in the wrong, Hou Jun remained silent for a long time before saying quietly, "I've already discussed the sale with Cheng Congwu. Whether you agree or not, it won't affect the final outcome."

"Mr. Hou, if your purpose in asking me out today is to get my support for Gaode's privatization, no problem, I can agree to it."

Xiao Jun wasn't angry and readily agreed.

Hou Jun and Cheng Congwu were ultimately his mentors. Although they had fallen out due to conflicts in company management, he understood that Hou Jun was right. Rather than waiting for Baidu Maps to overtake Gaode Maps, it was better to sell at a price that satisfied everyone.

Looking at Xiao Jun, Hou Jun felt a pang of guilt. He couldn't help but think: if he had supported Xiao Jun's rise to power, perhaps Gao De wouldn't have ended up like this.

But this negative emotion was fleeting, quickly overshadowed by the impending inflow of $1.14 million, replaced by overwhelming joy.

Hou Jun holds a 17% stake in AutoNavi. Once the transaction is completed, he can use the money to prepare for new projects or comfortably enjoy the rest of his life.

He's 48 this year, halfway through his life, and if he doesn't enjoy it now, he'll really miss his chance.

"Waiter, pay!"

Xiao Jun understood Hou Jun's meaning and got up to leave.

All those previous arguments were just to get him to agree to sell the stocks. He actually thought Hou Jun was just there to reminisce with him.

At this time, the headquarters building of Gaode Maps was still brightly lit.

These people were unaware that the company's three major shareholders had already decided to sell them, along with the entire project, to Senlian Capital.

The next morning.

Chen Yansen, Gao Weilin, and Song Yuncheng drove to No. 18 Changsheng Road. As soon as they stopped their car, they saw Cheng Congwu and a middle-aged man wearing gold-rimmed glasses come up to them.

"Mr. Chen, this is Mr. Hou Jun, Chairman of AutoNavi."

Cheng Congwu gave a brief introduction.

"Mr. Hou, it's a pleasure to meet you! I'd like to take a look around first. I hope you two won't mind?"

Chen Yansen asked with a smile, while secretly sizing up Hou Jun.

According to Gao Weilin's investigation, this person was a graduate of the Ancient Literature major at Yenching University, yet he was able to become the chairman of a car sales company (Datong Industrial), which shows his exceptional abilities.

Then, leveraging the resources and network of Datong Industrial, they established Gaode Maps and snatched a large order from Toyota from NavInfo.

It must be said that those who study history are all masters of manipulating people's hearts.

At a glance, Chen Yansen could tell that Hou Jun's withdrawal from Gaode's daily management was definitely not because he couldn't defeat Cheng Congwu.

This person is far smarter than Cheng Congwu!
"Of course, no problem, Mr. Chen, this way please!" Hou Jun said with a smile.

The group entered the lobby, took the elevator, and went to the second floor.

As Cheng Congwu walked, he introduced Chen Yansen: "President Chen, this is Gaode's core department, responsible for map data collection and surveying."

Chen Yansen nodded slightly and glanced around; there were about 400 people on the entire floor.

"The third floor houses the mobile products department, which is mainly responsible for the research, development, upgrades, and optimization of the Gaode app; the fourth floor is the B2B team, whose core business is to cooperate with car manufacturers to pre-install navigation systems. The headquarters has approximately 2000 employees."

"In addition, the CP zone also has a data production base, and has established a market sales center and a navigation engine R&D base in Shanghai and Xiamen respectively."

Cheng Congwu gave a detailed introduction to Gaode's fixed assets and technology patents.

"Mr. Cheng, I heard that Gaode has another founder, but I haven't seen him."

"Chen Yansen asked. Cheng Congwu was slightly taken aback, and his expression was a little unnatural, but he quickly adjusted his mindset and explained calmly, "Xiao Jun was the former COO of Gaode Maps, but he left the company last year and is currently serving as a director and consultant for Gaode. He rarely comes to the company."

consultant?

Chen Yansen found it amusing. This position had been completely ruined by the domestic internet industry. Anyone who served as a consultant in a company but had no real power was mostly a high-level executive who had lost in internal power struggles and been eliminated.

The titles of director and advisor were merely the last vestiges of dignity that Cheng Congwu left for Xiao Jun.

Chen Yansen smiled and didn't delve into it further.

After touring the Gaode headquarters, he finally signaled to Cheng Congwu to lead him to the conference room.

Hou Jun remained mostly silent throughout, seemingly not wanting to steal the spotlight from Cheng Congwu.

Upon entering a spacious and bright conference room, everyone took their seats.

The topic returned to last night, and the two sides continued to discuss the acquisition price.

This time, Chen Yansen didn't get involved and left everything to Gao Weilin, while he chatted with Hou Jun while holding a teacup.

Hou Jun, who was not in a good mood to talk, did not notice that after Chen Yansen spoke, he unconsciously felt a strange sense of intimacy. His gaze towards Chen Yansen softened, and he found the young man more and more pleasing to the eye.

As they chatted, Hou Jun surprisingly revealed his latest project.

You should know that he had never mentioned this project to Xiao Jun.

"What's wrong with me today?" Hou Jun vaguely felt that something was wrong, but he couldn't quite put his finger on it.

"Fenghuang Ancient Town?"

Chen Yansen was slightly surprised. He did not expect that Hou Jun, as expected of a cultural figure, had set his sights on cultural tourism projects as early as 2012 and had successfully acquired the 50-year operating rights to eight scenic spots in Fenghuang County with 9 million yuan.

"Does Mr. Chen think this type of project has market potential?" Hou Jun asked with a smile.

"President Hou has a keen eye; these kinds of cultural tourism projects are generally beyond the capabilities of outsiders."

Chen Yansen praised.

This is not just polite talk. Imagine an outsider going to a place where they don't know anyone to develop tourism. Even if they can successfully complete the initial procedures and formalities, they will still suffer a lot.

Chen Yansen knew that Chunshen wanted to develop the tourism industry, but he didn't say a word because he knew the saying, "Shallow waters have many turtles, and small temples have many demons."

Hou Jun lowered his voice and said, "President Chen, you flatter me. Actually, I only managed to get the project off the ground without any major problems thanks to the local agent."

Chen Yansen realized that Hou Jun was a smart man who would never make a low-level mistake, especially in handling interpersonal relationships. It turned out that he had found a front man.

After a conversation, he also understood the main reason why Hou Jun resigned from his position as CEO of Gaode: he simply focused his energy on the development of cultural tourism projects.

Furthermore, Cheng Congwu is also a core investor in this cultural tourism project.

Chen Yansen sneered inwardly, feeling sorry for Gaode's last founder. So what you see as internal strife was just a play put on by someone else.

Two financial experts managed to kick out Gaode's key business personnel!
Similar situations are not uncommon in the industry, such as Wang Zhidong of Sina, Sun Tongyu of Taobao, and Ni Guangnan of Lenovo.

Xiao Jun is not the first, nor will he be the last.

By noon, Gao Weilin and Cheng Congwu had still not reached an agreement, so the group went to a nearby restaurant for lunch.

Gao Linwei held a Gaode Map asset valuation report jointly issued by the finance, legal, marketing and third-party research institutions; Cheng Congwu also held detailed asset and patent analysis materials of Gaode, as well as a fully certified Class A surveying and mapping qualification, and argued with Gao Linwei.

After a short rest in the afternoon, both parties calmly considered their options and began to work towards their respective target prices.

Cheng Congwu stopped insisting on the price of $14, and Gao Weilin, after receiving instructions from Chen Yansen, also came up with a new offer of $12.6.

Cheng Congwu was still not satisfied; he was only willing to lower the price to $13.6 per share.

Seeing that the negotiations were about to break down, Hou Jun spoke up at the opportune moment: "How about we each take a step back and agree on a middle value, like 13.1 US dollars?"

"12.8 US dollars. If it's higher than that, there's no point in negotiating. Otherwise, I'd rather choose 4D Maps."

Chen Yansen said lightly.

This statement effectively put a countdown on the negotiations, leaving Hou Jun and Cheng Congwu with only two options: agree or refuse.

The two exchanged a glance, a hint of embarrassment flashing in their eyes.

What may seem like a mere $0.3 difference translates to a $280 million loss for Hou Jun. That amount of money could buy a 700-square-meter villa in Beijing's Second Ring Road.

Under Chen Yansen's mental pressure, Hou Jun had a vague feeling that if he rejected the offer, the other party might really turn around and contact Siwei Map.

Although there aren't many companies in China with Class A map surveying qualifications, Chen Yansen has the money, and if he really wanted to acquire one, it wouldn't be too difficult.

Three minutes later, Hou Jun nodded slightly and gave Cheng Congwu a wink.

"Mr. Chen, let's tentatively set the price at $12.8 per share. I will initiate the privatization and delisting process as soon as possible. The premium of $1.4 per share will be a satisfactory explanation to the investors. I don't think there will be any major problems."

Cheng Congwu stood up, shook hands with Chen Yansen, and indicated his agreement.

With a total share capital of 5430 million, and calculated at US$12.8 per share, Senlian Capital will have to pay US$6.95 million, which is approximately RMB 45.8 billion in Chinese Yuan.

After completing this transaction, Senlian Capital had very little money left in its accounts.

However, Chen Yansen is not worried, as Pinbei and Orange Technology will bring in at least 30 billion yuan in gross profit every month.

After initially confirming the acquisition intention and price, the next steps will be handled by Gao Weilin, who will need to assemble a professional team of lawyers, accountants, financial analysts, and due diligence personnel to further verify the authenticity of Gaode's cash flow and negative asset information.

At 4 p.m., Chen Yansen declined Cheng Congwu's dinner invitation and had his driver take him to Xiaomi's headquarters.

Gao Weilin let out a long sigh of relief; he was exhausted!

He argued with Cheng Congwu for a whole day!
"No one who can be a boss is lacking in energy!" Gao Weilin secretly lamented.

Chen Yansen sat in the back seat of the car, holding his mobile phone, and sent a message to an unfamiliar mobile number on the text message editing page.

the other side.

The fierce battle between KuaiPao and Ele.me in Shanghai's food delivery market is still ongoing.

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(End of this chapter)