Baidu Headquarters.
Li Yan once again convened a high-level meeting:
"Bad news, Wang Yi has officially rejected our acquisition of Amap!"
"What! Acquiring it at a premium of 1.5 billion, and they're still not satisfied? Wang Yi's ambition is too great."
"Exactly, making a cool 1.5 billion in a few days and still unwilling, it seems they want to fight us Baidu to the bitter end!"
Li Yan nodded:
"Wang Yi's reason for refusal is to focus on group buying and that Amap is needed! But I feel this is just an excuse!"
"It's definitely an excuse. To put it bluntly, Wang Yi acquiring Amap is to take on Baidu. As for group buying, it's just a side venture."
"That must be it. In the future, we and Xingyi Technology will have to keep fighting. Especially Amap, acquired by Xingyi Technology, which is 50% larger than Baidu Map, will definitely launch a 'dimensionality reduction attack' on Baidu Map!"
Li Yan strongly agreed:
"This is tricky. Everyone, guess from which aspects Wang Yi will make a move? Or, how should we respond! We can't be so passive anymore!"
"Yes, after these few impacts, Baidu's market value has evaporated by 95 billion, falling below 200 billion. We must reverse the decline as soon as possible and let the market value rise back!"
"As for where Xingyi Technology will strike? I guess Amap will heavily publicize, advertise, promote, and even hire spokespersons to intensify efforts to capture users."
"This is possible. Currently, Amap + Sogou Map have 33 million users, while Baidu Map has 20 million users. In terms of marketing, we absolutely cannot lose, otherwise we will only become more passive!"
"That's right, I suggest investing heavily and increasing promotional efforts. If Amap does online ads, we'll do TV ads. If Amap does TV ads, we'll sponsor variety shows! If Amap hires minor celebrities, we'll hire major celebrities! In short, spare no effort to fully suppress Amap!"
Li Yan nodded:
"This is a good proposal. Next year, Baidu Map's marketing budget will be increased by 200 million!"
"Also, I'm worried Amap Navigation will lower its prices!"
"Right, currently Baidu Navigation is 30 yuan a month, and Amap is 50 yuan a month. New Year's Day is in a few days. To snatch users, Wang Yi might lower Amap to 30 yuan a month starting from New Year's Day, competing with Baidu at the same price point!"
"To be frank, our Baidu Navigation is inherently inferior to Amap Navigation. Previously, by being 20 yuan cheaper than Amap, we could still attract some users. But once they're at the same price point, we're done for."
Li Yan nodded:
"That makes sense. If Amap drops to 30 yuan a month next year, we'll drop to 20 yuan a month! Although we'll earn less, we must maintain competitive pricing."
"Chairman is wise."
Li Yan, however, changed the subject:
"Crushing Amap in marketing and ensuring an absolute price advantage will make Baidu Map very competitive. But right now, we also need to find a new positive gimmick, arrange a trending topic, and get Baidu's stock price to rise tonight. If it doesn't rise back, shareholders won't be able to sit still. Everyone, think about any good ideas?"
After a moment of silence, a young executive spoke:
"Chairman, I suggest we focus on AI and show our strength. Baidu's current core business is search, but search has already monopolized 70% of the market share, with little growth left. The core of future development is AI, such as Baidu Map + AI autonomous driving!"
"Although AI autonomous driving requires many years of R&D investment to yield results, it doesn't prevent us from promoting it in advance and creating some buzz!"
"Good idea!"
Li Yan's eyes lit up:
"AI autonomous driving is eye-catching enough, and combined with Baidu Map, it forms a perfect closed loop with limitless prospects. Using this for publicity, we will lead Xingyi Technology in strategic layout and crush Amap! Our stock price can also immediately surge! Have the PR department do it immediately!"
"Yes!"
Just as the subordinate was about to act, Li Yan checked his watch and then changed his tone:
"No, notify the media outlets we patronize; I will personally hold a press conference! Baidu has been dormant for too long, and its stock price has plummeted repeatedly. It's time to crush Xingyi Technology with AI's hard power and pull the stock price back up!"
"Yes!"
As the head of BAT, Baidu was very efficient.
By 4:40 PM that day, the press conference was organized.
Those attending the conference were Baidu's designated media, who had received plenty of money over time, and naturally came when called.
As for other media, they could not be invited.
What if they asked Li Yan, what do you think of Baidu's plummeting stock price?
What do you think of Baidu using its monopoly to block and suppress Xingyi Video?
What do you think of Baidu's iQiyi infringing on Xingyi Video's copyright and being sued...
How would Li Yan answer?
There's no way to answer!
Therefore, this press conference was attended by Baidu's own media, all insiders!
Even the questions asked by the media were pre-arranged by Baidu!
As for the timing, it was already well arranged.
At 4:50 PM, a piece of news hit the trending topics:
[At 5 PM, Baidu Chairman Li Yan will hold a press conference!]
Immediately, reporters from the four major portals all wanted to curse:
"Damn it, Baidu's press conference starts at five, and they release the news at four fifty, we can't even make it there!"
That's right, the timing was just that coincidental, only ten minutes in advance.
Even though they were all in the Imperial Capital, they couldn't make it.
This was to prevent other media from attending and asking inappropriate questions.
Jian Ziyan was speechless about this:
"Holding a press conference but not allowing media to attend. Chairman, Baidu's move is truly audacious!"
Wang Yi couldn't help but laugh:
"Baidu's press conference is only for their own media, not for all media."
"I see, so everyone attending today is Baidu's internet trolls!"
Jian Ziyan suddenly realized:
"I'll make a note of this; they won't be invited to the next press conference!"
"Whatever."
Wang Yi didn't bother to care:
"It seems this time, Baidu is going to make a move to pull back its market value!"
"It seems so."
At 5 PM, Baidu's press conference officially began, with simultaneous live broadcasts on Baidu's official website, Baidu Tieba, and other platforms.
Li Yan faced the camera, looking radiant, and immediately began to talk boastfully:
"Baidu Search Engine is the number one search engine in China, with a market share exceeding 70%, and it is the world's number one Chinese search engine. In the field of Chinese retrieval, Baidu holds an unshakeable position and advantage.
Based on this advantage, Baidu will continue to advance rapidly and continue to make outstanding contributions to global Chinese retrieval..."
Wang Yi watched the live broadcast and spoke softly:
"Li Yan immediately started showing off his strength, truly wanting to pull back the stock price."
At this moment, a reporter on site suddenly spoke up and questioned:
"Chairman Li, Baidu Search is powerful, but the emergence of new competitors should not be underestimated. Will Baidu feel a sense of crisis?"
Li Yan smiled slightly and said confidently:
"New competitors? Who are you referring to? In the field of Chinese search engines, Baidu is the absolute king; there are no competitors!"
The reporter continued to ask:
"Chairman Li, do you mean that Chairman Wang's acquisition of Sogou Search still doesn't qualify it to be Baidu's competitor?"
Li Yan chuckled, saying meaningfully:
"Baidu Search Engine's market share exceeds 70%, while Sogou's is only 7%. Would a thirty-year-old adult consider a three-year-old child a competitor?"
"This..."
The reporter fell silent, then said:
"Baidu is indeed the absolute king!"
Wang Yi said nothing watching this scene, but Jian Ziyan was furious:
"Chairman, Li Yan is too arrogant; he actually said that our Xingyi Technology is a three-year-old child! To praise oneself while belittling others like this, he's too wild!"
Wang Yi smiled faintly, not getting angry:
"Whom the gods would destroy, they first make mad. Let's see, a three-year-old child has infinite potential, while a thirty-year-old adult is about to be 'optimized'!"
How could Wang Yi not know that Baidu had arranged for this reporter, with the Q&A designed to showcase Baidu Search's dominant position, while at the same time furiously belittling Sogou Search, Xingyi Technology, and even Wang Yi?
But all this was merely for a moment's gratification, of little significance.
Compared to the big move Wang Yi had prepared for Baidu, this was truly insignificant!
What's more, Wang Yi had already shorted Baidu by 4 billion, with 5 times leverage added.
How could Baidu be allowed to rise back?
Just kidding!
There was no other way; Wang Yi had spent too much money acquiring companies recently.
Baidu also jumped out to block Xingyi Video, so Wang Yi could only short Baidu to collect some interest!
As a land of etiquette, Wang Yi has always valued reciprocity!
The press conference continued, and another reporter stood up:
"Chairman Li, Baidu has reached the pinnacle in search engines, one could say it stands atop the highest peak, viewing all mountains small!"
Jian Ziyan was furious:
"Shameless, this one was also arranged by Baidu, and 'viewing all mountains small,' who are they talking about!"
Wang Yi couldn't help but laugh, continuing to watch the live broadcast.
"Baidu Search Engine is so successful, so what field will Baidu focus on next? Or, what is Baidu's next direction for development?"
Li Yan smiled slightly:
"Baidu Search is a pinnacle that many companies can only dream of reaching, but it's just the beginning for Baidu. Next, Baidu will focus on AI, using AI to make the world more exciting."
"For example, Baidu Map is one of Baidu's upcoming core businesses and key development directions."
Another reporter spoke:
"Chairman Li, do you mean that Baidu's next goal is to surpass Amap?"
"No, no, you underestimate Baidu too much!"
Li Yan quickly waved his hand:
"Baidu has never regarded Amap as a competitor when making maps. Although both Baidu and Amap currently make maps, they are making completely different kinds of maps."
"What does that mean?"
Not only were the reporters on site confused, but everyone watching the live broadcast was also bewildered.
Even Jian Ziyan huffed angrily:
"This guy is up to no good again!"
"Hahaha."
Wang Yi was amused.
As expected, Li Yan changed the topic:
"Amap making maps is just a simple map service. But Baidu making maps is an AI layout. In addition to Baidu Map, Baidu has also invested heavily in developing AI autonomous driving. The future is the era of intelligent driving, the era of autonomous driving!
Baidu Map + AI autonomous driving, that's the map Baidu is making. In this regard, Amap can never compare."
The reporter continued:
"Chairman Li, do you mean that Amap can only do the most basic maps and cannot reach the high-end level of intelligent driving?"
Li Yan smiled slightly:
"You can understand it that way. I don't believe an enterprise that started with surveying and mapping can have any autonomous driving genes. In this aspect, Amap and Baidu are not on the same level at all, so Baidu will not consider Amap as a competitor."
"Of course, this is not Amap's fault. In fact, looking nationwide, only Baidu currently has the capability to do AI autonomous driving! Globally, it's no more than a handful."
"It can be said that Amap is at best an excellent map software. But Baidu is an excellent map software + AI intelligent navigation, it is the future!"
"Choose Baidu Map, and let's witness the future of AI autonomous driving together!"
"Whoosh!"
Thunderous applause reverberated throughout the venue, and media reporters on site stood up and applauded.
All the netizens watching the live broadcast became passionate and excited.
AI!
Autonomous driving!
In 2011, who wouldn't be bewildered by these things?
Even in 2021, people would still be bewildered.
Subsequently, a series of pre-prepared news items quickly made it to trending topics:
[Li Yan: With a tenfold gap, Sogou is not worthy of being Baidu's competitor!]
[Amap is just a map, Baidu is Map + AI Autonomous Driving!]
[Baidu leads AI autonomous driving, taking the lead in the era of self-driving!]
[Choose Baidu, pursue the dream of autonomous driving!]
[Baidu's grand AI strategy, Xingyi Technology and Amap are not worthy of being competitors!]
Even the public opinion below completely changed:
"Incredible, while Amap is still making maps, Baidu has already started autonomous driving, truly amazing!"
"Yeah, before I thought Amap was great, but now it's clearly not on the same level."
"Nonsense, Amap is just a small company, Baidu is the head of the BAT giants."
"Forget Amap, even Xingyi Technology is not enough to compete with Baidu!"
"Goodbye Amap, I'm going back to Baidu Map, embracing AI, embracing autonomous driving!"
"Baidu focusing on AI, limitless prospects."
"Baidu is the future, Amap is just a map maker! We misunderstood Chairman Li."
"Once Baidu's AI concept is out, the stock price will skyrocket, go quickly to buy the dip!"
"Holy crap, you're a genius, thank you!"
...
Li Yan smiled faintly, looking at these public opinions:
"With Baidu's AI concept launched, this wave is solid. Baidu's stock price will only skyrocket tonight!"
"Yes, Chairman, as long as Vice President Qu secures NavInfo, Baidu will only surge ahead. The AI concept is Baidu's bulletproof vest. In the future, Xingyi Technology, Wang Yi, Sogou, and Amap won't be able to impact Baidu much!"
Li Yan nodded:
"Well said. Even if our AI autonomous driving research is only superficial, and even if it takes many years to yield results, it doesn't matter. Hyping the concept and defeating Xingyi Technology is enough."
"Whether it's individual investors or those fools on Wall Street, what they love most are concepts!"
"And since Baidu is hyping the AI autonomous driving concept and also has the ability to research AI autonomous driving, they naturally won't doubt it. There's a high probability they'll heavily increase their bets. Just wait, tonight Baidu's continuously falling stock price will experience a V-shaped bottom rebound!"
"Chairman is wise, so shall I have someone prepare champagne for a celebration?"
Li Yan's eyes lit up:
"Bring out that bottle of Lafite I've kept for 20 years!"
"From '82?"
The subordinate couldn't help but ask, eyes shining.
"Yes, that one!"
The 1982 Lafite produced around 180,000 bottles in total.
85% were consumed that year, leaving only about 27,000 bottles in stock.
After the 1990s, the 1982 Lafite became famous, selling like crazy, and the stock of less than thirty thousand bottles dwindled even further.
By now, global stock is probably very low, mostly in collectors' hands, totaling less than a few hundred bottles.
However, more than 3 million bottles of 1982 Lafite are sold in China annually!
Hmm, that's more than ten times the total production of Château Lafite Rothschild in 1982...
It can only be said that 99.99% are fakes!
However, Li Yan's bottle was real.
Li Yan bought it in 1991 while studying abroad at the State University of New York at Buffalo.
At that time, the '82 Lafite had just become popular, and upon hearing the news, Li Yan collected two bottles.
One of them was consumed to celebrate Baidu's successful IPO.
The other one has been kept until now!
Li Yan waved his hand grandly, saying heroically:
"Celebrating Baidu's soaring market value, it's worth opening the '82 Lafite!"
"Chairman is wise!"
The executives were all excited.
In stark contrast to Li Yan's great mood, Jian Ziyan was furious:
"Chairman, this wave of PR from Baidu is too successful. Not only does it highlight Baidu's AI strategy, but it also belittles us to worthlessness. This..."
Wang Yi waved his hand, still unconcerned:
"Li Yan's move is a textbook example of crisis PR, very successful. Even if there are minor flaws, they don't overshadow its brilliance."
Jian Ziyan's eyebrows furrowed slightly:
"Deploying AI, Baidu Map + autonomous driving! Then Baidu Map's user numbers will skyrocket, and won't Baidu's stock price soar tonight? A rise of tens of billions?"
Wang Yi smiled:
"It's not that simple. Li Yan's crisis PR is very successful. But unfortunately, I won't let him succeed, nor will Penguin (Tencent)! Just wait, however glorious it is now, it will soon be just as miserable."
I've already shorted you, and you think I'll let you rise back?
Just kidding!
"Is that so? Then I'm looking forward to it!"
Jian Ziyan walked behind Wang Yi, stretched out her slender hands, and began massaging again.
Recently, she didn't know why, but whenever she was in a good mood, she would massage Wang Yi!
Wang Yi was utterly bewildered, only able to quietly enjoy it.
NavInfo Headquarters.
Qu Xin had been at NavInfo for a while, but he hadn't seen NavInfo's Chairman Lin Tao.
He hadn't even seen Vice President Zhou Feng.
Instead, only a manager received him!
Such a reception infuriated Qu Xin.
'I, the esteemed Vice President of Baidu Group, came to offer money, yet NavInfo only arranged a junior manager to receive me, what does this mean? Looking down on me?'
The more Qu Xin thought, the angrier he got, finally unable to sit still:
"Where is Chairman Lin? Baidu has important cooperation, looking for Chairman Lin to discuss."
Manager Qian's expression changed slightly, and he said apologetically:
"Vice President Qu, I'm really sorry, our chairman is currently meeting an important guest and truly has no time to spare."
There was no way around it; the chairman was meeting the Penguin (Tencent) Vice President.
They had been negotiating for two days and were almost done.
How could there be time for Baidu?
"Important guest?"
Qu Xin was very displeased, muttering inwardly,
'What kind of guest? So important? More important than me, a Baidu Vice President...?'
'Damn it, I'm so annoyed. I'm still waiting to invest in NavInfo, go back and drink '82 Lafite to celebrate Baidu's comeback!'
Qu Xin was furious:
"Then where is your Vice President Zhou Feng? I'll talk to him first."
"Apologies, Vice President Zhou is also meeting an important guest."
Hmm, meeting the Ali Vice President, also discussed for two days, no time to see you either.
Qu Xin's mouth twitched: "..."
Damn it, this is too much!
No, I'm going to see who exactly is more important than me!
To make NavInfo's chairman and vice president put me last!
With this thought, Qu Xin could no longer sit still.
He stood up directly and walked towards the Vice President's office.
The last time Baidu and NavInfo discussed a cooperation for underlying map data licensing, it was he who talked with Zhou Feng, so he naturally remembered where Zhou Feng's office was.
Seeing this, Manager Qian's expression changed dramatically, wanting to stop him, but Qu Xin was determined to go and couldn't be stopped.
After all, Qu Xin was Baidu's Vice President, and he, a junior manager, had little influence and dared not offend him.
As for calling security, that was even more of a joke.
He could only follow Qu Xin upstairs.
Arriving on the floor where the Vice President's office was located, Qu Xin hadn't even walked over yet when he coincidentally saw a familiar figure emerge with a grim expression.
It was indeed the Ali Vice President!
"Why are Ali people here? And looking like they've lost their parents?"
Qu Xin was full of curiosity, then his expression changed dramatically, suddenly having a bad premonition:
"Could it be that the important guest Zhou Feng met earlier was the Ali Vice President?"
"Ali also wants to invest in NavInfo? Their movements are even faster than ours!"
"But with such a grim face, I guess they were rejected, hahaha."
Qu Xin breathed a sigh of relief, immediately quickened his pace, and headed straight for the Vice President's office, only to see another person, beaming, walk out from the Chairman's office not far away.
It was indeed a Vice President from Tencent.
However, his spirited appearance was distinctly different from that of the Ali side.
"Tencent's people are here too! And coming out of the Chairman's office!"
Qu Xin broke out in a cold sweat, instantly thinking of the worst outcome:
"Could it be that the important guest Chairman Lin is meeting is the Tencent Vice President?"
"Could it be that Tencent is also here for NavInfo?"
"And this triumphant demeanor, could it be that NavInfo has already been taken by Tencent?"
"If that's the case, if NavInfo becomes part of the Penguin (Tencent) ecosystem, and Amap belongs to Wang Yi, then Baidu Map is finished!"
"No way?"
"It can't be!"
Qu Xin's face turned ashen; he felt utterly unwell.
In the map sector, Baidu has invested heavily, making it its current second pillar industry!
Baidu Search Engine's market share has basically peaked, and iQiyi isn't performing well.
Baidu can only develop Baidu Map as its second core industry!
Once Baidu Map grows strong and defeats Amap and Careland, it can monopolize the domestic market, with unlimited prospects.
Baidu Navigation's monthly package is 30 yuan, so one user equals 360 yuan a year!
If there are 10 million annual paying users, that's 3.6 billion a year!
If there are 50 million annual paying users, that's 18 billion a year!
Limitless prospects!
Subsequently, Baidu Map + AI autonomous driving would be even more formidable.
Currently, Ali's main development direction is big data and cloud computing.
And Baidu's main development direction is precisely Baidu Map + autonomous driving!
But without underlying map data, Baidu Map's future is over!
If even Baidu Map has problems, how will the subsequent autonomous driving be handled?
It's over, truly over!
Qu Xin broke out in a cold sweat; he felt utterly unwell.
He could only hope that the situation hadn't reached this severe point and that there was still a turn for the better.
But the Tencent Vice President opposite him also recognized him and even greeted him with a laugh:
"Vice President Qu, you're a step too late! Hahaha!"
Watching the Tencent Vice President laugh and leave, Qu Xin felt as if he had fallen into an ice cellar; his last glimmer of hope was completely shattered.
At this moment, Lin Tao also came out, looking at Qu Xin in front of him, somewhat embarrassed:
"Vice President Qu, you've arrived, quickly, please come in!"
Qu Xin didn't move, just said in a deep voice:
"Chairman Lin, has Tencent invested in NavInfo?"
"Yes! Tencent has become NavInfo's second largest shareholder."
Qu Xin's face turned livid: "..."
What one fears most, happens!
Tencent really invested in NavInfo!
Not only that, but also the second largest shareholder!
It can be said that NavInfo will be part of the Tencent ecosystem from now on!
Then, forget about Baidu Map's cooperation with NavInfo.
BAT will not allow their underlying map data provider to serve their sworn enemy!
Absolutely not.
Otherwise, Tencent's money would have been wasted.
But Qu Xin didn't want to give up, still asking:
"Then Baidu Map's cooperation with NavInfo..."
Lin Tao waved his hand:
"Vice President Qu, please rest assured, NavInfo's licensing cooperation with Baidu Map expires next year. It will be fulfilled as usual until then, without any problems."
"What about after it expires?"
Qu Xin couldn't help but ask.
Lin Tao sighed, falling silent.
Sometimes, silence is the best refusal.
"I understand."
Qu Xin's expression became even more dejected; sure enough, after Tencent's investment, Baidu was out!
"I'm sorry!"
"This isn't your fault, I came too late."
Qu Xin sighed:
"Can you tell me the price?"
"1.5 billion, 10%!"
To invest in NavInfo, Tencent and Ali competed to raise bids, from 1 billion all the way to 1.4 billion!
Ultimately, Tencent splurged 1.5 billion, and Ali gave up on further bidding.
Tencent acquired 10% of the shares at a 50% premium, becoming the second largest shareholder!
"That price is quite high! Congratulations."
Qu Xin gave a bitter smile, turned and left, his expression becoming even gloomier.
NavInfo became part of the Tencent ecosystem, no longer licensing underlying map data to Baidu Map.
Amap became Wang Yi's, making it even more impossible to license underlying map data to Baidu Map.
Without even underlying map data, how can Baidu Map develop? How can it operate?
It can be said that Baidu Map is completely finished!
AI autonomous driving is also finished!
Everything is freaking over!
Baidu Headquarters.
With lights and wine, the celebration banquet was all prepared.
Not only expensive champagne, but also Li Yan's genuine '82 Lafite, treasured for 20 years!
Seeing Qu Xin return, Li Yan beamed:
"Old Qu, hurry, the celebration banquet is just waiting for you!"
"Look, Baidu's stock price has risen!"
"It rose right at the opening!"
"It has now risen by 20 billion, hahaha, and it's still skyrocketing!"
"It dropped 95 billion these days, and today it can recover at least 50 billion!"
"Quick, open the Lafite, celebrate!"
"Hahaha!"
Li Yan was in a great mood, directly opened the '82 Lafite, poured a glass, and handed it to Qu Xin.
Qu Xin's face became even uglier, his twitching lips didn't know what to say.
All the way here, he had been pondering this question, thinking about how to subtly deliver this bad news to Li Yan!
After all, the impact on Baidu was too great!
Truly too great!
It was equivalent to completely destroying Baidu's current strategic layout!
It could be called catastrophic!
(End of chapter)