Internet moguls are being held hostage by the entertainment system!

Chapter 255 Unwilling to cooperate? Then let's eat first.
Chen Xiu's first impression of Wang Xin was lukewarm; he wasn't particularly friendly.

Then, this feeling was immediately amplified and confirmed after the two sat down.

"The live-stream promotion that Mr. Chen, Mr. Ma, and other celebrities did together just before the Spring Festival was truly eye-opening!"

"Hehe, these are just some small tricks, but the publicity effect is not bad."

"If Meituan had a live streaming function, I would be willing to appear on camera to promote the company."

"Oh."

Chen Xiu looked at Wang Xin noncommittally, sensing a provocation in his words.

After being stared at like that for two seconds, Wang Xin realized that his attitude was inappropriate, so he chuckled twice to ease the tension.

"Douyin is doing so well, and it's raising its Series B funding. All the major investors are eagerly waiting for it. Mr. Chen, did you come to me to try and attract investment?"

"The Series B financing is basically confirmed. If Mr. Wang is interested, we can look for opportunities to cooperate in the future."

"Douyin needs to find another opportunity to cooperate in the future, so what is the purpose of this meeting?"

Wang Xin pretended to be puzzled and looked at Chen Xiu. Then, without waiting for his answer, he muttered to himself, "Last month, Mobike just finished its Series D financing. As a major shareholder, Mr. Chen should have made a lot of money, right?"

Chen Xiu straightened her expression and frowned slightly as she looked Wang Xin up and down.

It was this action that finally made Wang Xin's smile genuine.

"Haha! Mr. Chen, it seems I wasn't wrong, you did come to me about Mobike."

"How did you guess that?"

Wang Xin nodded and glanced at Chen Xiu, then said smugly, "Based on the time you contacted me, the only things related to you besides the Douyin Series B financing that hasn't started yet are Mobike's Series D financing."

"Although it's unlikely, I still asked about Douyin earlier, and you've already denied it. As for Mobike, I guess Mr. Chen, you probably want to cash out your shares ahead of schedule."

"You did this once before, when Didi's Series D funding round ended, so it's not surprising that you're doing it again. I'm just curious, why did you approach Meituan?"

Wang Xin's eloquent speech added a touch of curiosity to Chen Xiu's gaze as she looked at him.

In the past, when facing business tycoons like Wang Jianlin, Pony Ma, and Ma Yun, Chen Xiu was usually the one who made surprising remarks. But today, the situation has reversed, and he is the one who is "shocked".

Looking at Wang Xin, who was clearly smug but still pretending to be reserved, Chen Xiu thought to herself: So this is what it feels like to watch someone put on airs.

Do Wang Xin and his ilk view me with the same mentality? No, no, no, my ego is far superior to Wang Xin's.

After mentally dismissing Wang Xin's pretentious attitude, Chen Xiu said, "Mr. Wang, you've told me so much, why don't I say a few words too?"

"of course can."

Wang Xin nodded, looking at Chen Xiu with curiosity, wanting to hear what profound words he had to say.

Chen Xiu pondered for a moment and said, "Last September, Meituan obtained a third-party payment license. However, the mobile payment market has already been dominated by Alipay and WeChat. If Meituan wants to make a difference, it must continuously expand its lifestyle service offerings."

"As shared bikes are the most frequently used mode of transportation for commuters, you must have included them in Meituan's business plan. Currently, Mobike has the largest market share, and I am the largest shareholder of Mobike besides the founder. Do I need to say anything more?"

Wang Xin was taken aback, somewhat surprised that Chen Xiu could see the future development of Meituan.

However, this sense of loss of control only lingered on his face for a short while.

Looking at Chen Xiu with a hint of scrutiny, Wang Xin said, "President Chen, based on what you just said, can I define it as an answer? The answer is: you plan to sell your Mobike shares to Meituan?"

"That is indeed my plan."

"Based on Mobike's current valuation, how much is your shareholding worth approximately?"

"Around 2.6 million US dollars."

Wang Xin frowned, a clear calculating glint in his eyes.

After a long pause, he let out a sigh of relief and shook his head, saying, "Meituan cannot pay this fee at the moment, but we have another financing plan this year. If you don't mind, we can talk about it then."

Wang Xin didn't pretend to deny it, but gave the result directly.

Chen Xiu was not surprised by this, as what he sought was not funds.

"Mr. Wang, based on Mobike's current development trend, there may be another round of financing this year. At that time, the price will be different."

"The scale of bike-sharing is limited. Even if another round of financing is launched, the room for growth is still limited."

"Perhaps we can cooperate in a different way?"

"You mean, a share swap?"

Chen Xiu nodded, her purpose quite direct.

Upon seeing this, Wang Xin refused without even thinking.

"I'm sorry, I cannot accept this cooperation method."

"Hmm, is Meituan going to decide whether to join the bike-sharing service?"

"Correct."

"Do you intend to create your own bike-sharing brand and enter the market?"

"Given the current competitive landscape of bike-sharing, acquiring a brand that survives to the end is definitely more cost-effective than creating one yourself. On this point, I share your opinion."

Chen Xiu stared blankly at Wang Xin, somewhat at a loss for words.

His reason for proposing the equity swap was that Meituan previously acquired Mobike using a combination of 35% equity and 65% cash. This demonstrates that this approach is feasible; the only issue to be discussed is the proportion.

Even if Meituan raises funds again this year, Mobike will also raise funds again. After deducting the costs and benefits, it is still more cost-effective to acquire shares now.

However, Wang Xin was unwilling to cooperate in this way.

Chen Xiu thought: Could it be that he was also a time traveler who knew that Mobike would fail in the future and its valuation would be discounted, so he understood that it was not the right time to make a move?
After being stared at for a while, Wang Xin said somewhat awkwardly, "President Chen, there is actually nothing wrong with the proposal you put forward. If Meituan wants to acquire a bike-sharing brand, Mobike is indeed the first choice. However, I cannot accept the share swap method today."

Are you worried that the shareholders won't agree?

“When Meituan and Dianping merged, they used a share swap model. After the merger, the valuation was higher, and the shareholders had no objections.”

Now, Chen Xiu is completely at a loss.

Based on what we just discussed, Wang Xin intends to acquire Mobike, and the shareholders wouldn't object to a share swap, but he can't accept it today... Wait a minute, today?

Chen Xiu glanced at Wang Xin, realizing what was happening, and instantly grasped the key point.

Recalling the provocation the other party had shown when he came in, Chen Xiu carefully considered her words before asking, "Mr. Wang, do you harbor any personal dissatisfaction with me in any way?"

"Dissatisfaction, that word is too strong."

Wang Xin quickly clarified: "I admit that I feel some competition from you as a fellow internet entrepreneur, but I absolutely do not dislike you."

"So it's about a sense of competition?"

“Yes! My previous ventures in the internet industry all failed. The only venture that I can truly call a career was Meituan in 10. You founded Didi at the end of 11, and Zhang Yiming founded ByteDance in 12. We are all from the same generation of internet entrepreneurs.”

Do you also feel this competitive spirit towards Lao Zhang?

Chen Xiu asked curiously, "If Wang Xin wasn't lying, then his provocation could be simply summarized as a fierce competition!"

Will Zhang Yiming, who looks rather soft and cute, also become a formidable rival to Wang Xin?

"No! Yi and I are from the same hometown and have a very good relationship."

Wang Xin awkwardly pushed up his glasses, knowing what his answer implied.

Chen Xiu looked at him silently, thinking: So he only competes with me, how honored I am!

Because of Chen Xiu's excellent personal reputation and respectable conduct, the older generation of influential figures he came into contact with always held him in high regard.

However, Chen Xiu's reputation for being good at marketing was seen as an overambit by other entrepreneurs in the internet industry at the same time.

The last bird that liked to stand out like this was known in the martial arts world as the Red-Clothed Cult Leader...

The only difference between the two is that one has a good reputation and the other has a bad reputation.

Entrepreneurs at the same time often compete fiercely with their rivals.

Wang Xin had never met Chen Xiu before, but as fellow entrepreneurs, he would often compare himself to Chen Xiu in private, which is the origin of the so-called sense of competition.

The cooperation proposed by Chen Xiu today is neither urgent nor necessary.

At this point, the magnetic field feeling between each other becomes very important.

If things go well, we can speed things up and start discussing the share swap ratio right away; if not, like Wang Xin is doing now, we can get to know each other better and discuss it again next time, that's fine too.

Having figured out the situation, Chen Xiu thought for a moment and then suddenly changed the subject, saying, "President Wang, there's no rush for cooperation anyway. Since you don't want to talk about it today, let's have dinner first."

"what?"

Wang Xin looked at Chen Xiu in surprise, as if he hadn't expected him to give such an answer.

After hesitating for a moment, Wang Xin thought: I've already come all this way, if I leave without even eating, it would really mean I have a problem with Chen Xiu...

"Okay! Let's eat first then."

Chen Xiu nodded with a half-smile, then chatted with Wang Xin while flipping through the menu.

"Mr. Wang, do you have any other plans for later?"

"My work is canceled all day today until tonight."

"It's an honor. Can you ride an electric bike? A two-wheeled one."

"what?"

Wang Xin suspected he had misheard the question, but he hadn't.

Chen Xiu repeated, "Can you ride a two-wheeled electric vehicle?"

"Yes, what's wrong?"

"Nothing, just asking... I've ordered, do you need to take another look?"

"Thank you."

After Wang Xin took the menu, he kept an eye on Chen Xiu's movements, but all he saw was him rapidly operating his phone, seemingly sending a message.

After the two finished ordering and asked the waiter to come in to take the order, and the dishes were brought in, Chen Xiu didn't say much.

The waiter left, leaving only the two people in the private room.

Chen Xiucai finally said, "Mr. Wang, you just mentioned the word 'sense of competition.' How about we try to satisfy that sense of competition in another way?"

(End of this chapter)