Chapter 504 373: Meituan Sells Itself! Little Ma: Crossing Industries is Like Crossing Mountains, Unless You're Chen Yansen

"President Wang, I have to report this to the company first," Ji Gang said after some thought.

Technically, both Ma Liyun and Cai Xin had previously said they were temporarily giving up on further investments in Meituan.

But their bosses' wording had been very precise. It was only "temporary."

If he failed to report a major development, he would probably get chewed out.

"Sorry for the trouble, President Ji." Wang Huiwen also knew that someone in Ji Gang's position couldn't make the final call.

His immediate supervisor was Cai Xin, and Cai Xin, in turn, had to report to Ma Liyun.

It would take at least two or three days to get an answer.

So after hanging up, he called Lin Chenfeng from the Penguin Investment Department.

He wasn't naive enough to just sit around waiting for Ali.

"President Wang, I'm sorry, Penguin has no intention of acquiring a Group Buy website," Lin Chenfeng rejected him outright.

'After merging with Gaopeng Network and F Team, QQ Group Buy was still barely alive. And I'm supposed to buy Meituan, a company drowning in negative press?'

'Are you kidding me!'

'He had no desire to be called out by name by Pony and Martin in an executive meeting.'

Wang Huiwen gave a dry laugh and quietly put away his phone.

「At the same time.」

Shen Nanpeng of Redwood Capital also got the news and immediately called to confront Wang Xin, demanding to know why he hadn't followed his plan to merge with Dianping.

"I want to cash out, not equity," Wang Xin replied bluntly.

Selling Meituan was the only way he'd get the startup capital for his next project.

'What would he get from merging with Dianping?'

Wang Xin didn't think that Zhang Tao could defeat Kuai Pao and Lashou Network.

"How about I step in and help you set up a chat with Chen Yansen of Senlian Capital?" Shen Nanpeng suggested.

Not long ago, he had participated in the Series A funding round for OFO bikes. He figured Chen Yansen would show him at least some professional courtesy.

"A few days ago, I had Zhang Chaoyang send word. Chen Yansen has no interest in acquiring Meituan whatsoever."

Wang Xin replied honestly.

"Alright, I get it," Shen Nanpeng said gravely. "You want to sell the company, and I won't stand in your way. But the price must be approved by Redwood Capital."

He was afraid Wang Xin would make a backroom deal and sell for a low price, damaging Redwood Capital's interests.

"Fine. No objections," Wang Xin replied flatly.

'Now that things had come to this, the fact that Shen Nanpeng didn't even mention a follow-up investment meant Redwood Capital had given up on Meituan long ago.'

Wang Xin scoffed and hung up the phone.

Half an hour later, Wang Huiwen returned and updated Wang Xin on the responses from Ali and Penguin.

"Since Penguin isn't buying, we'll go to Qian Du." After a moment's thought, a new plan popped into Wang Xin's mind.

For one thing, it would let Kuai Pao and Lashou Network fight it out amongst themselves. For another, with Qian Du Network in the picture, he'd have more leverage to drive up the price with Ali.

Otherwise, with Ali as the only buyer, they would absolutely squeeze him on the price.

Wang Huiwen was a sharp man and understood immediately. He didn't ask any more questions, pulled over a chair, and started making calls right there in the office.

Wang Xin was like a dying hyena, glaring ferociously at Kuai Pao and Lashou, ready to take a bite out of anyone.

「Meanwhile.」

Hang City Ali Headquarters, the Taohua Island office.

Ma Liyun's gaze swept over Tang Yongbo, Zhang Yong, and Lu Zhaoxi, then he asked, "What do you all think?"

"Buying Meituan would shore up another one of Ali's weaknesses in local services," Lu Zhaoxi said casually. "That way, we'd be walking on two legs."

"A head-on clash with Kuai Pao and Lashou Network right now would just drain the group's resources and capital. It might even affect our upcoming IPO," Zhang Yong said, shaking his head, clearly disagreeing.

'Chen Yansen was notoriously vindictive. After Kuai Pao entered the Group Buy space, Wang Xin had only bared his fangs once before getting beaten so badly he was ready to quit.'

'What if Ali's acquisition of Meituan provokes retaliation from Kuai Pao? Would we have to get into a price war then?'

'If we do, it'll burn through capital and impact the group's cash flow health. If we don't, then what's the point of buying Meituan in the first place?'

"We can combine Taobao Delivery with Meituan Network, using the high-frequency service to drive the low-frequency one, forming a complete business ecosystem. I'm in favor of the acquisition,"

Tang Yongbo added.

Buying Meituan and merging it with the delivery business would increase his authority, giving him control over more resources and a greater say in matters.

Since it was to his advantage, of course he wouldn't oppose it.

Ma Liyun frowned. Two votes in favor, one against. He didn't really want to buy it, either.

'But on second thought,' he mused, 'Taobao has already entered the food delivery space, and local services are part of Ali's strategy. A confrontation with Kuai Pao is inevitable.'

'The partnership between Ali and Senlian Capital had started to crack the day he decided to test the waters with the food delivery business.'

"Tell Ji Gang to begin the acquisition process for Meituan." After a long moment of deliberation, Ma Liyun made his decision.

'Better to openly declare Ali's determination to enter the local services market than to be furtive about it.'

"Understood, Mr. Ma," Tang Yongbo said with a slight nod.

...

...

"You're saying Wang Xin is preparing to sell Meituan?"

In the Qian Du Headquarters Building, Li Yanhong looked at Gong Zhenbing and asked.

"Wang Huiwen said so himself, so it must be true. Meituan's transaction volume in January was only 470 million, a drop of nearly sixty percent compared to three months ago. Once the February numbers are out, they probably won't even hold the 400 million mark."

Gong Zhenbing said with a smile.

Even though he'd been reprimanded last month and publicly criticized by the General Inspection Association, Lashou Network's monthly transaction volume had hit 1 billion for the first time, vaulting it into second place in the industry, behind only Kuai Pao.

Li Yanhong was back to being pleasant with him!

'In a big company like BAT, if you wanted to thrive, timing was everything. You had to get your project to meet expectations before the boss's time and patience ran out.'