If Xingyi Technology were a small company, if Wang Yi didn't have much capability, Xingyi Video would have long since died under Baidu's ban!
How could this be a misunderstanding?
Baidu's modus operandi is precisely this: constantly banning and suppressing others.
In his previous life, Gaode Maps was severely suppressed and banned by Baidu, leaving it helpless.
Also, NavInfo, whose vast amounts of underlying map data were stolen by Baidu Maps, had to sue to protect its rights.
After Baidu lost the initial lawsuit, it kept delaying through various means, dragging it on for 7 years until it lost the final appeal, having to pay NavInfo over 60 million yuan...
After so many years of infringement and seven years of delay, it only needed to pay over 60 million yuan...
Even though NavInfo ultimately won the lawsuit, it suffered heavy losses.
Now, only because Wang Yi has the strength to truly hurt Baidu, will Baidu bow its head.
Otherwise, why would Baidu bow its head? Apologize?
What a joke!
Wang Yi was clear about this and naturally wouldn't be fooled by Qu Xin's hidden malice.
Qu Xin chuckled:
"Chairman Wang, this matter was just iQiyi's people messing around; Chairman Li and I absolutely had no such intention. We came this time with sincerity!"
"Is that so?"
Wang Yi smiled faintly, not bothering to argue:
"What sincerity?"
Qu Xin said with a smile:
"Chairman Wang, we Baidu are willing to buy back the Gaode Maps you acquired for 3.55 billion yuan for 4.55 billion yuan. This is our sincerity!"
We're giving you an extra 1 billion yuan, isn't that enough sincerity?
Wouldn't you take the money and settle while you're ahead?
Qu Xin was fully confident.
He believed Wang Yi absolutely couldn't refuse a price of 1 billion yuan.
Wang Yi, however, was utterly speechless:
"Acquire Gaode... Sorry, it's not for sale!"
Let alone 4.55 billion yuan, even for 5.55 billion yuan, it's not for sale!
As an underlying map data service provider, Gaode is the core foundation of Xingyi Technology's O2O strategic layout.
For Xingyi Technology to grow, it cannot do without underlying map services.
Not only Xingyi Technology, but also BAT cannot do without underlying maps.
How could it be sold?
As for saying O2O (online-to-offline or offline-to-online) is too rudimentary to do...
This is even more unrealistic.
The current internet trend is O2O.
Meituan, Ele.me, Didi, Dianping, Qunar, Tongcheng, Fliggy, Lianjia, Taocaicai, Beike, and others that will rise in the future are all O2O.
In this wave of golden opportunities, BAT will all invest wildly and stake out O2O territory, and Wang Yi likewise cannot miss out.
As for trends like Big Data, Cloud Computing, and AI, they are high-end and sophisticated, but they endlessly burn money in the short term with no returns.
Alibaba started Alibaba Cloud in 2009, investing one to two billion yuan annually, only beginning rapid expansion after 2015, truly taking off in 2018, and achieving profitability for the first time in 2022!
That's right, it took thirteen years and Alibaba burned twenty to thirty billion yuan to achieve profitability!
If Wang Yi starts doing cloud computing now, he would also need to burn over twenty billion yuan and would need seven or eight years to take off!
But in these seven or eight years, Xingyi Technology also needs to develop and make money, so it will have to rely on other businesses and O2O.
In his previous life, Baidu's collapse was due to its all-in bet on unprofitable AI, while its potentially profitable O2O businesses utterly collapsed.
Alibaba endured for ten years, finally waiting for the huge breakthrough in Alibaba Cloud computing.
But the waters of AI were too deep; Baidu endured for ten years, but Baidu's AI never saw a huge breakthrough.
This resulted in Baidu AI having insufficient returns, while other O2O businesses completely collapsed, leaving it stuck in the middle.
Ultimately, its market value was only one-tenth of Tencent's and Alibaba's.
Wang Yi would not make Baidu's mistakes.
Big Data, Cloud Computing, and AI are all long-term investments that constantly burn money, starting at 20 billion yuan.
O2O, on the other hand, is the current prime sector, especially the almost untapped food delivery and ride-hailing sectors, which capital largely overlooks.
These are sure paths to profit and the best opportunities.
As for the highly competitive group buying platforms, Wang Yi currently does not want to participate.
He will wait for them to finish fighting, then clean up, acquiring a few platforms and integrating them into Gaode Group Buying.
Or invest in Meituan.
However, the current Meituan is invested by Alibaba and is considered part of the Alibaba ecosystem.
It wouldn't be very easy for Wang Yi to invest.
In the internet industry, what matters most is clear factions.
In his previous life, Meituan and Alibaba fell out.
Then, with Dianping from the Tencent ecosystem, neither could overcome the other, so the two merged, drove away Alibaba, and switched allegiance to the Tencent ecosystem.
This became a lingering thorn in Jack Ma's heart, and he would fiercely suppress Meituan even if it meant acquiring Ele.me at all costs.
Similarly, Wang Yi's opportunity to invest in Meituan would also be when Meituan and Alibaba fall out!
If he were to invest now, Alibaba, as Meituan's major shareholder, definitely wouldn't agree.
It's better to first enter the ride-hailing and food delivery sectors, while patiently observing the development of the "Thousand Group Buying War" in the group buying sector before making further plans.
But no matter what, Gaode Maps cannot be sold!
This is fundamental.
Qu Xin's expression changed slightly:
"Chairman Wang, are you dissatisfied with the amount? The price of 4.55 billion yuan is already 1 billion yuan higher than your acquisition price a few days ago!"
Qu Xin felt that making 1 billion yuan in just a few days was an extremely worthwhile deal, so why wouldn't he sell?
Or is he hostile to Baidu and wants to continue to target Baidu using Gaode Maps?
Wang Yi waved his hand:
"It's not about the money; I don't intend to sell it."
Qu Xin was silent for a moment, then spoke again:
"Chairman Wang, 5.05 billion yuan, a premium of 1.5 billion yuan, Baidu will acquire Gaode Maps!"
"A premium of 1.55 billion yuan..."
Wang Yi couldn't help but laugh, wondering to himself, had Baidu finally understood?
Did it realize the strategic significance of underlying map data? So it would acquire Gaode even with a 1.5 billion yuan premium?
Actually, Li Yan had a very high IQ and strong technical skills, but he was too arrogant, and his capabilities were just average.
Technology does not equal capability!
Frankly, Li Yan was a technical player, but when it came to managing a company, business warfare, vision, and strategic planning, he fell short.
For example, cloud computing, which was not favored by anyone at the time, only Wang Jian was optimistic about it.
Jack Ma didn't understand cloud computing either, but he listened to advice, proposing to invest 1 billion yuan annually in cloud computing, investing for 10 years first, and if it didn't succeed in ten years, to continue investing!
Chairman Ma of Tencent believed that cloud computing was promising but too advanced.
But Li Yan said,
"Cloud computing is just old wine in new bottles; there's nothing new."
That's right, Li Yan directly vetoed cloud computing!
The result was predictable: a few years later, watching Alibaba Cloud's Feitian grow bigger and stronger, easily solving the 12306 Spring Festival travel problem, Li Yan was dumbfounded.
He decisively admitted his mistake, changed his tune, and called it "new wine in new bottles..."
In terms of technology, Jack Ma was not as good as Li Yan, but Jack Ma was not dictatorial and could listen to advice.
For things he didn't understand, he was willing to delve deeply and invest heavily.
But Li Yan was different; anything he looked down upon was garbage, with nothing new...
So, ten years passed, and Tencent and Alibaba grew tenfold, developing rapidly.
Baidu, however, missed one opportunity after another and rapidly went downhill...
But now Baidu is offering a 1.5 billion yuan premium to acquire Gaode Maps, has it truly understood?
Has it seen the strategic significance of underlying map data?
Seeing Wang Yi not refute, Qu Xin beamed with joy, thinking there was a chance.
He decisively said:
"Chairman Wang, with a premium of 1.5 billion yuan, Baidu is full of sincerity; please consider it. Of course, all misunderstandings regarding the ban will also be resolved, and we are all friends!"
"Heh."
Wang Yi smiled faintly:
"This matter has serious implications; allow me to consider it."
"Of course."
Qu Xin was in a very good mood, thinking Wang Yi was genuinely interested.
After another round of pleasantries, he then left.
Jian Ziyan walked over:
"Chairman, are you really going to sell Gaode Maps?"
"What do you think?"
Wang Yi said with a smile.
Hell no!
The reason he didn't refute again was to see Baidu's current intentions.
Currently, the good domestic underlying map data providers are Gaode and NavInfo.
Baidu Maps uses NavInfo's underlying map data.
Actually, if Baidu were to directly approach NavInfo and acquire a stake in it, it could also ensure its own underlying map strategic security.
But unfortunately, Baidu was too ambitious, insisting on acquiring Gaode Maps, which was courting disaster.
It's likely that the opportunity to acquire a stake in NavInfo is also gone.
Wang Yi didn't think BAT were all fools.
The strategic significance that Li Yan and others could see, Alibaba and Tencent could also see.
If NavInfo were snatched away by Tencent and Alibaba, then Baidu's future would become 'interesting'.
Hmm, first delay Baidu for a day, and wait until Alibaba or Tencent secures NavInfo, then refuse Baidu!
By then, Baidu would have nowhere to turn.
Without underlying map data, how could Baidu Maps continue to operate?
As for doing its own surveying and mapping, and building its own underlying map database?
That's extremely difficult!
Map surveying and mapping requires a Class A surveying and mapping qualification.
Gaode and NavInfo have this qualification, but the current Baidu does not!
In his previous life, Baidu acquired a company with a Class A surveying and mapping qualification in 2014 to obtain the qualification.
Moreover, having the surveying and mapping qualification was just the beginning.
With so much underlying map data, it simply couldn't finish surveying it all without several years of time!
In his previous life, Baidu and NavInfo signed an agreement in 2013, authorizing Baidu to use its data until 2016.
Unexpectedly, its mortal enemy Tencent acquired a stake in NavInfo in 2014.
After Baidu and NavInfo's cooperation expired in 2016, renewal was naturally impossible.
From 2014-2016, Baidu did a lot of its own map surveying and mapping, but it was still not enough, so it could only continue infringing on NavInfo's data, leading to NavInfo suing it...
After suffering several defeats in court, Baidu remained unconvinced and kept delaying and appealing.
However, each time it lost, its stock price would plummet, causing Baidu heavy losses.
One reason for Baidu's low market value in his previous life was Baidu's underlying map data security crisis.
But this time, it will certainly be more tragic!
After all, in his previous life, Baidu still had NavInfo's authorized transition period from 2013-2016, allowing it to use those three years to build its own underlying data.
But this time, there is no such transition period!
Calculating the time, NavInfo and Baidu signed a new three-year authorization period in 2013. In other words, the old authorization will expire next year!
By 2013, Baidu Maps would face the problem of no underlying data available!
With a one-year transition period, it would be a question whether Baidu could even obtain a Class A mapping qualification, let alone create its own underlying map database.
Without four or five years, it would all be in vain.
In that case, Baidu Maps would be on the verge of collapse!
Wang Yi did not directly reject Baidu's acquisition of Gaode; he was waiting for Tencent or Alibaba to be the first to secure NavInfo.
As a competitor, they naturally wouldn't continue to authorize Baidu Maps.
Wang Yi would once again reject Baidu's acquisition of Gaode and would also not grant Baidu authorization!
By then, with no underlying map data available, Baidu Maps would truly be finished.
This is high-end business warfare!
Baidu banned Xingyi Video, so Wang Yi would join forces with Tencent or Alibaba to directly cripple Baidu Maps by cutting off its underlying map authorization!
This would completely bankrupt Baidu Maps, Baidu's core business developed with massive investments!
Then Baidu's losses would be huge.
Its stock price would plummet so much that it would be unrecognizable!
From then on, Wang Yi's Gaode Maps would reign supreme!
"Ziyan, send someone to keep an eye on NavInfo."
Wang Yi smiled faintly:
"Tell me anytime if there are any developments."
"Okay, Chairman."
Jian Ziyan didn't know Wang Yi's plans, but she would immediately carry them out.
NavInfo Headquarters.
Upon receiving a report from his subordinate, Lin Tao, Chairman of NavInfo, was bewildered:
"Alibaba wants to invest in us, and Tencent also wants to invest. What's going on?"
"An underlying map data provider, unloved and neglected, has actually become a hot commodity?"
However, Lin Tao did not make a rash decision.
Instead, he immediately convened a high-level meeting to discuss this issue.
"Both Alibaba and Tencent have sent vice presidents. It's probably to invest in and acquire a stake in NavInfo. What do you all think of this?"
Upon hearing this, the senior executives were also bewildered.
After a long while, someone said:
"Chairman, currently the only underlying map data providers are us and Gaode. Chairman Wang of Xingyi Technology acquired Gaode, so Alibaba and Tencent are now competing for us!"
"Yes, that makes sense; it must be like this."
"The current group buying war is incredibly fierce, and the underlying data for six thousand group buying websites is all map data!"
"Not only that, other O2O industries are also based on map data. Without underlying map data, they simply cannot be done."
"Coupled with BAT fighting each other, banning and suppressing, the security of underlying map data has become critically important. This is why both Tencent and Alibaba are competing for us!"
After some discussion, everyone's eyes lit up, and they thoroughly understood the underlying scheme.
Lin Tao nodded:
"So that's how it is; you are all very right. So what should we choose next? Playing both sides is unrealistic! We can only choose one of BAT!"
Instantly, the entire room fell silent.
This was too difficult to decide.
Opposite were the BAT giants.
NavInfo's market value was ten billion yuan, only one-tenth to one-twentieth of theirs.
They had very little say.
If they chose correctly, then it would be fine.
If they suggested aligning with the Alibaba ecosystem, but it ended up with Tencent, then they would be finished, definitely facing retribution later.
Seeing that no one was speaking, Lin Tao cursed inwardly:
"These shrewd people are really cunning."
Out of helplessness, he could only look at the Vice President:
"Old Zhou, you go first!"
Vice President Zhou Feng frowned slightly, pondered for a moment, and said:
"We are not in a hurry to choose which one. We can look at the prices and conditions they offer. But we can discuss and agree upon our bottom line in advance. For example, how many shares we can offer, how much say we give..."
"Yes, that makes sense!"
Lin Tao nodded, strongly agreeing.
After some discussion, they set their bottom line: a 10% stake for 1.1 billion yuan.
As for the say, that would depend on subsequent developments.
As for which company to align with, no one said, but each senior executive had their own little calculations in their hearts.
Subsequently, NavInfo's senior executives held negotiations with representatives from Alibaba and Tencent respectively.
Seeing that their mortal enemy had made a move, both representatives' expressions greatly changed, and they decisively notified their headquarters.
Alibaba Headquarters.
Jack Ma's expression changed slightly:
"What? Tencent's people went too? They're fast!"
"Underlying map data involves strategic security; we must secure it. Raise the bid for me: 1.2 billion yuan for a 10% stake in NavInfo!"
"Okay, Chairman."
Receiving the Chairman's instructions, Alibaba's representative decisively approached NavInfo's Vice President Zhou Feng again:
"Chairman Ma said, if NavInfo signs the contract today, it's a ten percent stake for 1.2 billion yuan!"
"1.2 billion for ten percent! Doesn't that mean NavInfo's market value increased from 10 billion yuan to 12 billion yuan!"
Zhou Feng was startled:
"Please wait a moment; I'll go report to the Chairman immediately!"
"Okay, go ahead."
Alibaba's representative was confident of success.
With a 20% premium, NavInfo absolutely couldn't refuse.
Lin Tao, who was in talks with Tencent's representative, received the news and was also startled:
"What? 1.2 billion yuan?"
"Yes, Chairman, Alibaba has offered 1.2 billion yuan!"
Lin Tao looked at the Tencent Vice President opposite him, showing an embarrassed smile:
"President Yang, you see..."
President Yang's mouth twitched, and he quickly held Lin Tao back:
"Chairman Lin, don't rush; I'll contact Chairman Ma right away!"
"Okay, I'll wait for you!"
Lin Tao smiled.
He deliberately had Zhou Feng say it in front of President Yang, to make it easier for Tencent to follow with a higher bid!
President Yang naturally understood this, but there was nothing he could do; this was an overt strategy!
He could only quickly dial Chairman Ma's number:
"Chairman, the situation is not good; Alibaba is also acquiring NavInfo, and they've offered 1.2 billion yuan! What do you think..."
"Alibaba is here too!"
Chairman Ma's expression changed greatly, and he immediately thought of the consequences:
"No, if Gaode was acquired by Wang Yi, and NavInfo is also acquired by Alibaba, then wouldn't our Tencent's Soso Maps have no underlying map data available? Then group buying and such would be impossible to do!"
"Yes, that's the point; map strategic security is too important. I suggest raising the bid."
Chairman Ma nodded:
"Raise the bid, we must raise it. If Alibaba offers 1.2 billion, we offer 1.3 billion. If they offer 1.3 billion, we offer 1.4 billion! Keep raising the bid for me; we must secure it!"
"Okay!"
Subsequently, both sides began round after round of confrontation.
It wasn't just a confrontation over price, but also over other preferential terms.
The development of the internet is all about feeling one's way across the river.
Before Wang Yi made his move, Gaode and NavInfo were just sitting there, and BAT didn't consider them valuable or willing to invest.
But after Wang Yi made his move, both Alibaba and Tencent realized the strategic significance of underlying map data!
Only then did they start fighting tooth and nail for it.
Late afternoon, Jian Ziyan approached Wang Yi:
"Chairman, as you expected, the vice presidents of Tencent and Alibaba have both gone to NavInfo to negotiate investment matters!"
Wang Yi smiled faintly:
"Just as expected. Let's quietly wait for their results; Baidu is doomed anyway."
Jian Ziyan also understood the reason, but she had another question in her heart:
"Chairman, since underlying map security is so important, we've acquired Gaode, why don't we continue to acquire a stake in NavInfo?"
Wang Yi couldn't help but laugh:
"Ziyan, do you think if we have Gaode and then acquire a stake in NavInfo, we would directly monopolize domestic underlying map data providers! From now on, Baidu Maps, Soso Maps, Laohu Maps, etc., would all be at our mercy. We would decide who lives and who dies, right?"
"Right!"
Jian Ziyan nodded repeatedly in excitement.
"Right my foot!"
Wang Yi flicked Jian Ziyan's forehead:
"Ziyan, if that were the case, we would be suspected of monopolizing underlying map data. No, not suspected of monopolizing, but 100% monopolizing! Then we would get hammered!"
In China, monopoly is a big problem.
No matter the industry, once a monopoly is formed, it will definitely get hammered.
A hammer of tens of billions of yuan!
If Wang Yi dared to truly do that, he would definitely be hammered to smithereens by the "village chief"!
Of course, he wouldn't act foolishly.
Wang Yi's business principle was to achieve top 2 in a sector; he would absolutely not monopolize.
Everyone makes money together.
Wang Yi earns the meat, while other companies eat the vegetables, drink the soup, and gnaw the bones.
One shouldn't be too greedy; monopoly and such are meaningless.
"So that's it, anti-monopoly is a big problem."
Jian Ziyan suddenly understood.
Wang Yi waved his hand:
"Not only that, even if we wanted to acquire a stake in NavInfo, the other party might not agree, and we couldn't acquire a stake either."
"What other reasons?"
Jian Ziyan was bewildered.
Wang Yi said with a smile:
"Simply put, for map security considerations, once ride-hailing and food delivery grow big, Gaode will definitely go public on the Hong Kong Stock Exchange or the A-share market."
"Both NavInfo and Gaode operate in the underlying map data business. Once we acquire a stake, it would involve an issue of interest transfer due to competition in the same industry. Just this point alone, the CSRC wouldn't approve it, and Gaode wouldn't even be able to think about listing!"
"So that's it, Chairman, you've considered things so thoroughly."
Jian Ziyan nodded repeatedly, having benefited greatly.
She hadn't thought that much, only thinking about monopolizing and then banning Baidu Maps!
"We can't do the monopoly thing, but we can collaborate across industries and tacitly ban Baidu!"
Wang Yi said meaningfully.
For example, let Alibaba or Tencent acquire a stake in NavInfo, while Wang Yi controls Gaode.
This way, with strong competitors, it wouldn't be a monopoly, and they could also tacitly join forces to ban Baidu!
Nor would it affect Gaode Maps' future listing.
Baidu was doing social networking, e-commerce, and monopolized 70% of the search engine market.
Alibaba and Tencent had long wanted to finish Baidu off.
The animosity Alibaba and Tencent had for Baidu was much higher than Wang Yi's.
As long as there was an opportunity to ban, they would absolutely seize it.
After all, banning on the basis of underlying map data security is too effective and too powerful.
It was precisely for underlying map strategic security that in his previous life, Tencent had Soso Maps and also merged with Sogou Maps, and in 2013, it invested in NavInfo, becoming NavInfo's second largest shareholder, ensuring underlying map data strategic security.
Alibaba, on the other hand, intercepted Baidu and aggressively acquired Gaode Maps, also ensuring its own underlying map data strategic security.
As for Baidu, which had Baidu Maps, after its acquisition of Gaode was intercepted by Alibaba, it had to sort out its Class A surveying and mapping qualification and began a path of simultaneous surveying and mapping and infringement...
But this time, everything has changed.
Wang Yi secured Gaode, and one of Alibaba or Tencent would then secure NavInfo, leaving the remaining two giants out in the cold.
The future O2O land-grab war would also become more interesting.
Wang Yi was full of anticipation for this.
Without reaching a settlement with Xingyi Technology, Baidu's stock price fell another 7% that night, evaporating another 14 billion yuan.
Its market value fell all the way to 186 billion yuan.
Vice President Qu Xin sighed:
"It's fine, as long as Chairman Wang is willing to sell Gaode tomorrow, we acquire Gaode, and shake hands and make peace with Chairman Wang, then it will stabilize. Baidu's lost market value will all rise back!"
Li Yan looked at the cold winter outside the window, frowning slightly:
"It's Christmas Eve tomorrow, isn't it?"
"Yes!"
Qu Xin nodded.
"I hope everything gets better, and Baidu can also have a peaceful Christmas Eve tomorrow night!"
Li Yan said with a complex expression, only feeling it was incredible.
He never imagined that a small Xingyi Technology could beat Baidu into submission!
It's truly absurd!
What he didn't know was that this was just the beginning, and the main event was still to come!
Actually, many of Baidu's businesses were defeated by newly emerging small platforms.
For example, the current Meituan was just a newly established small player, with Alibaba investing only 50 million US dollars.
Subsequently, it still beat Baidu Nuomi into submission.
As for the food delivery business, capital currently completely disregarded it.
Ele.me had been established for several years and had only raised a few million US dollars.
Still, the same saying applies: for newly emerging models, capital giants are also very cautious.
Even the currently popular group buying wouldn't have attracted such high attention and investment from capital if not for Google's flashy move of a 6 billion US dollar acquisition offer for a group buying company, which was then rejected.
In fact, capital, like the public, blindly follows the crowd.
It doesn't know which industries are truly promising; it mostly invests in whatever becomes popular.
If video platforms are hot, they rush to invest in video platforms.
If group buying is hot, they swarm to invest in group buying.
Later, if food delivery becomes hot, they rush to invest in food delivery.
If new energy becomes hot, they invest in new energy.
If photovoltaics become hot, they collectively rush into photovoltaics.
And future community group buying, 3D printing, carbon neutrality...
They are all passing trends, swarmed into, with success or failure depending on destiny!
Even capital is blinder and more reckless than the public...
The current "Thousand Group Buying War" is just a microcosm.
Wang Yi wouldn't bother to blindly follow; he would only do the opposite and engage in differentiated competition.
The next afternoon.
Qu Xin came to Xingyi Technology again the next afternoon and found Wang Yi:
"Chairman Wang, how was your consideration last night?"
Wang Yi sighed:
"Sorry, after my careful consideration, Gaode still cannot be sold!"
"..."
Qu Xin's smile stiffened, and he unwillingly asked:
"Chairman Wang, can you tell me the reason? Is the price not suitable?"
"No, for Baidu to offer a 1.5 billion yuan premium, it's already a very suitable price."
"Is it because of the previous... conflict between Baidu and Xingyi Technology?"
Qu Xin's heart skipped a beat:
"Chairman Wang, these are all misunderstandings, truly misunderstandings. All conflicts can be resolved at any time, believe me!"
Wang Yi waved his hand:
"That's not the reason. The pure reason Gaode is not for sale is that Xingyi Technology's upcoming businesses are closely related to Gaode, so we cannot sell it."
"This..."
Qu Xin fell silent, half-believing it in his heart.
Gaode, acquired for 3.55 billion yuan, with Baidu offering 5.05 billion yuan, and Xingyi Technology not selling even for a net profit of 1.5 billion yuan.
It seems it truly isn't about the money.
"Chairman Wang is also going to develop O2O next?"
Qu Xin asked curiously.
Wang Yi nodded:
"Yes, O2O is so popular, so naturally we have to lay out a strategy, especially since we have Gaode."
"I understand, thank you, Chairman Wang, for frankly informing me."
Qu Xin said, then turned and left.
As soon as he exited, he dialed Li Yan's number:
"Chairman, Chairman Wang rejected our acquisition offer."
"What? A 1.5 billion yuan premium, and he still refused?"
Li Yan's mouth twitched:
"What reason?"
Qu Xin sighed:
"Chairman Wang said they want to rely on Gaode Maps to focus on O2O and do group buying!"
"Do group buying?"
Li Yan suddenly understood:
"So that's it. Group buying is popular right now, so it's normal for Wang Yi to strategize for it. But without Gaode, our underlying data strategic security will be in trouble."
"Yes, Chairman, this matter is very serious. I suggest we go to NavInfo immediately. NavInfo is also an underlying map data provider, with a market value of ten billion yuan, making acquisition difficult. We can acquire a stake and become a major shareholder!"
"Okay, you go to NavInfo right away. First secure a 10% stake and ask for more say!"
Li Yan decisively said:
"As for Xingyi Technology, since peace talks have failed, it seems we'll have to continue fighting!"
"Okay, Chairman, I'm going now!"
Qu Xin was very efficient and headed straight for NavInfo headquarters.
(End of chapter)