Udunder CEO says the team still owns 30%

Absrtact: The recent sale of 148 million U.S. dollars to investors has sparked widespread concern. Udunder, the chief executive, said today that the way cattle IPO was planned to raise about 200 million U.S. dollars, but the market was not too good. Udunder said that after the cattle

A recent sale of 148 million of dollars to investors has sparked widespread concern. Udunder, the chief executive, said today that the way cattle IPO was planned to raise about 200 million U.S. dollars, but the market was not too good.

Udunder said that after the launch of the size of the 100 million U.S. dollars, but also consider the submission of two quarterly earnings, and then do an additional issue, complete a total of 200 million U.S. dollars around the financing. After two quarters, the performance of the pedestrian cattle has also been affirmed by the market.

Udunder that the election at this time, and the market environment is not directly related to the path of the cow's own pace in the walk. "We see next year's market growth opportunities, but also hope that the ditch through the help of capital, consolidate and expand our leading edge." ”

It is understood that the passers-by recently announced with Hong-Yi Investment, Jingdong Mall, Ctrip's subsidiaries "Ctrip investment" and the Udunder CEO of the COO Hai Feng signed a stock subscription agreement. The company sold 148 million dollars in new shares to the investors.

According to the purchase agreement, Hong-Yi Investment, Beijing and east respectively to 50 million U.S. dollars, the Udunder CEO and COO Hai Feng respectively subscribe to 16.5 million U.S. dollars, Ctrip subscription 15 million U.S. dollars, after the additional, Hong Yi Investment, Jingdong accounted for 6.47%, Ctrip accounted for 5.17%.

Looking forward to closer cooperation with Beijing and east

Talking about why the introduction of Hong Yi Investment, Jingdong Mall, Udunder said, Hong Yi is China's leading PE investment institutions, management funds more than 46 billion yuan. Hong-Yi Investment in many successful enterprises and large companies, the company's future large-scale development has a great help.

Udunder pointed out that jingdong and passers-by in the business, especially in the cruise business has many cooperation, and the same as high customer price category of proprietary retail service providers, operating also have a lot to learn from, and passers-by look forward to the next step in the business closer strategic cooperation.

BEIJING-East today contracted the Royal Caribbean International Cruise's high-end brand "the acme of the Millennium", the passers-by and Beijing-east to reach strategic cooperation, the ultimate cruise ship Millennium Products Line online cattle. Beijing said it would make strategic investments to ensure close cooperation between the two sides.

In this cooperation, Udunder and Hai Feng respectively increase the stake, Udunder pointed out that this is the management initiative, but also recognized by investors, on the one hand, the management of the company's development is full of confidence, the current team overall shareholding ratio of nearly 30%.

When talking about Ctrip shares, Udunder pointed out that the passers-by have signed a strategic agreement with Ctrip, in the former hotel based on the increase in air tickets, car rental and other resources docking, to provide customers with individual resources category value-added services.

At the same time, the main business of cattle continue to focus on packaging leisure tourism products. Udunder said, "We will have a benign competition, to jointly promote the development of the industry, with the investment relationship can promote the communication between the two sides to avoid vicious competition." ”

148 million dollar financing for five strategies

Talking about the financing uses, Udunder said that there are five major strategic development priorities: to upgrade services and brands, expand the origin coverage and enrich product selection, strengthen the supply chain, strengthen wireless and research and development and strategic investment and cooperation.

The investment will focus on the above five aspects, strengthen the strategic depth, and strengthen the industry leading position. In the local, low-end market there is a certain homogeneity of competition, the bull will be resolutely countered, based on large-scale procurement products are competitive, this is not the focus of investment.

Against the current rivalry with the city network, Udunder said, the supplier blocked the same process mainly for two aspects of consideration: on the one hand in the past strategy has undergone a number of major changes, this time may be the same result, instability, not long-term cooperation is not as good as not cooperation; On the other hand, the same process itself into the wholesale field and suppliers of homogeneous competition, Be rejected and resisted by suppliers.

As a result of leisure travel packaging products are high customer price non-standard category, and ticket tickets and other different, not easy to direct parity. However, in the local market, such as the first-line city exit short-term self-service market, there is a certain homogeneity of competition.

Udunder pointed out that the passers-by are self-employed, and the platform is mainly cooperation, local competition is also differentiated competition. In the early stage of development of cattle in transit tried the platform model, encountered some problems, there are three main aspects:

1, business service is not professional, service time can not be guaranteed, weekends, evenings do not work;

2, the product quality is not controllable, the product on-line is very difficult to examine deeply, in addition the leisure travel package product non-standard, the emphasis retail brand, does not like the air ticket hotel that standardization, has the third party brand;

3, the peak season does not have the position, because in the busy season when the merchant position does not worry sells, prefers to leave the position to own old customer, if gives the platform customer also to pay the Commission.

This makes the passers-by become self-employed. The per capita turnover of 3 million yuan last year is three times times the industry average. Platform transaction costs can not only look at 3% commission, but also the retail service costs and marketing costs, combined with higher than the cattle.

At present, after the listing has been the loss of the situation, Udunder also explained that after the IPO, we focus on the user experience and brand, regional coverage and so do a lot of long-term investment, this is not last year.

These inputs will not be fully responsive in the short term, Udunder said. If all of the short-term input, the growth rate must be higher, but the bull still want to put the vision more long-term, around a longer-term goal of long-term sustained investment.