Big, not necessarily good. Dreams are not made of money

Absrtact: If you dial back two years ago, the winter of the early 2013. The founder of Wang and easy to use the car founder Zhou Ai, two people must think less than two years after the Chinese internet car market, is today's this pattern. Drops and

If you put the time back two years ago, the winter of the early 2013. The founder of Wang and easy to use the car founder Zhou Ai, two people must think less than two years after the Chinese internet car market, is today's this pattern.

Drops and quick merger, "and easy to or easy to, the only car on the market to support the choice of cars", easy to use cars in the official microblogging response:

"Big, not necessarily good." Dreams are not made by money. ”

But the brutal reality dictates the opposite. Two of 2012 years of the establishment of the Taxi software company, drop and fast, respectively, backed Tencent and Alibaba, after the merger of the valuation reached 60 to 8 billion U.S. dollars. Its growth rate is even faster than all-star entrepreneurial millet.

If we had invested 10 million in the market,

Whether it's easy to use a car or to roll a car, the set up time is dropping and fast. 2010 Zhou Ai start-up easy to use car. 2009 Taxi Driver Wang founded 2+1 Car rental, 2012 to taxi software. It was not until the beginning of 2013 that the car was in Beijing's dominant position, and they covered more than 20,000 taxis in Beijing, calling it "north-rocking, south-fast".

"If we had invested 10 million in the market, maybe today we would end up on the stage shaking," according to a report of business value, the other co-founder of Zhang recalled that the rise of the rocking is from Beijing West railway station, Beijing station and other taxis gather to start, the initial marketing has not played a penny advertising, The ferocity of the Battle of the Earth was entirely unexpected,

"We had a good relationship with the taxi," he said. and the capital airport cooperation is free to talk about ... Working with the taxi restaurant was the first thing we did, but the ultimate subsidy completely undermined the atmosphere.

There was a chance to dominate his own destiny, according to Wang's memories, Tencent and Citic had contacted the car before they found the drip, but he refused the offer. According to the public information, shook in March 2013 and Sequoia signed the million-dollar round of financing, including a gambling agreement.

Then, in April 2013 and May, Alibaba and Tencent respectively injected fast and drop taxis. By July 2013, there have been rumors of problems in the fund chain. Although the angel investor Xiaoping himself on the platform "whitewash", it turns out that the rumors of the June start to reduce promotional behavior are true.

Easy to use the car under the taxi software "taxi small secret" than to shake the car later into the market, but rely on easy to use the vehicle resources and team, they are more radical in the push. Yang Yun, vice president of the "Taxi-cab", told 36 Krypton that they were using a taxi company or an electric call platform to get the driver, while the pusher was promoting it directly on the street or by the driver, while subsidizing the user. Each driver's acquisition cost is about 50 to 60 yuan, each passenger's acquisition cost is about 10 yuan.

Under the lure of this high-intensity subsidy, the taxi secretary received more than 100,000 users and 6,400 drivers within one months of the official launch last April. The easy to expect for them is to get 30,000 drivers within two months of the line and then expand to all the first-tier cities. This is the goal that Wang founded three years ago to achieve.

Taxi small secret failed to complete their expectations, because the drop and fast in early 2014 completed hundreds of billions of dollars of financing, the cost of 1.9 billion yuan "subsidy war" immediately began, the market there is no other taxi software.

Liu's here.

In the rocking of the history of growth, the push is not fierce enough is only Zhang get the second lesson. The first lesson is the relationship with the government. According to his memories, shaking and easy to all in the capital airport and other land encountered fishing law enforcement. At that time Zhang in addition to the meeting, do the most thing is to the capital airport near the "Tianzhu Traffic Police Brigade" pay fines, fishing people. Wang said shook hands with their own leasing companies, cars are compliant, but still can not block the government's obstruction, this is their turn to taxi software reasons.

This is a common problem faced by Uber apprentices around the world. Uber has met strong policy resistance in India, South Korea and Germany, and 36 of Krypton readers may be able to see the news every week. Even in the US stronghold of Sacramento, for example, Uber spent 475,000 of billions of dollars in lobbying state law makers in just 5 months.

And the drip and fast and just the opposite, they first from the policy resistance relatively small taxi hire start. After cleaning up the whole market, and then more calmly into the car field.

Said is more calmly, because the taxi software still encountered the policy and public opinion of the trouble. Starting in March 2014, the Shanghai City ban morning and evening use of taxi software. Suzhou and other land is directly prohibited by taxi software. That period of time "subsidy war" has long been beyond the impact of investment circle and the Internet, and even Ma Yun had to come forward to make a joke out of the anger, "my mom can't hit the car, my father wants to scold me."

Just after that, the drip announced that Liu came.

Although after joining drops, Liu two times received 36 Krypton's interview, but regarding with the government and the capital market relations, Liu did not disclose his work details. But in an open letter announcing his promotion to Liu, CEO Cheng Wei said:

"Liu in a drop of six months time, to help the company completed at that time unlisted company's largest sum of 700 million U.S. dollars financing, and led the car, PR, GR (and government relations) team fought, killing a way out. ”

As Mr Liu's daughter, who worked at Goldman Sachs for 12 years, Liu is reluctant to call the drop and quick merger the capital market's good offices and games, and does not want the drop and Lenovo holdings of the China car rental too much link. "This merger, in fact, is entirely the management team in the lead." These two companies have only been able to finance, how to say that there is just the capital will be forced to merge immediately, there is no such thing, she told 36 Krypton, "after the merger this is a start-up company."

Billions of money

But the quick taxi before and after the two CEOs seem to have different views. The current CEO, Lu Zhunwei, said in an open letter issued after a quick announcement of the merger:

"The vicious mass of sustained burning of money is unsustainable, and mergers are a strong expectation of all investors on both sides." ”

Announcing the news on Valentine's Day, Jingwei China's press release earlier than the official announcement of a quick taxi. They are quick to take a taxi to a round of investors. And quick Taxi founder Albert Chan, it is in "Alibaba's money came in, Jingwei money before", left the fast CEO position. He told 36 Krypton, "after the merger must not be a start-up company, play is not the same, but certainly are running the hundreds of billions of market."

The official explanation for Chen Weixing's departure was that he was also in charge of several other entrepreneurial projects, and that he could not concentrate on the fast. Chen Weixing did not deny that. He communicated with MA, other investors and later management on the strategy of product, promotion and operation. "Capital is a great way to ripen a company, but I still like startups," Chen Weixing told 36 Krypton.

For the drop and fast after the merger of the future, Chen Weixing does not believe that the outside world, "the two sides of the management conflict, Liu will lead," said, "management is very rational, integration no problem." Only the integration between the founders will be more difficult. But the quick current CEO Lu Zhunwei is not the founder.

This may also be why the negotiation process has been so smooth. Liu and drop a cab CEO Cheng Wei, Quick Taxi CEO Lu Zhunwei January 21 started a secret project in Shenzhen: Valentine's Day program, the negotiations completed within 22 days of the merger. In the process, "two horses always know from the beginning," and finally is very generous blessing.

But we haven't seen the process of the swords. Liu Although not denied that the long-term drop may increase Alipay pay, but this sentence can also be understood as "in the short term will not support Alipay." The most important also has the equity ratio, 55% to 45%,52% 48% Two versions have been denied by Liu. Now the 51%-to-49% version comes up again, and the similarities between these versions are the drop-holding.

Liu said, "We're going to give up ego." Can let both sides, especially the quick and Ali aspect abandons ego must be the future "money". The protracted subsidy war has left both sides feeling tired. The Uber, which imposes a 20% commission on each driver, is already valued at $40 billion, which is Liu's "very big company in other countries". Liu also mentioned the "mobile travel this industry is very large, it is not limited to taxis, in fact, to go up is a car, there are carpool, there are buses, there are subways, as well as driving and so on."

Drop and Fast has won the taxi software market 120% of the share of the car market in the cumulative share will also occupy a clear advantage. In the car, driving the forefront of the field of entrepreneurs also want to think about, if the new "drip" or "quick drop" into this field, how to avoid becoming the next one to shake the car or a taxi.

"Completely does not involve the monopoly", Liu said firmly and self-confident, "the taxi software is not an industry, today we say is the travel this profession, moves travels".