My Life Can Hang

During this time, Cai Bingyao and Chen Huiling also met many investors.

There are well-known top VCs, and there are little-known small VCs.

Funding is the most important thing for Grab right now.

What they need most now is large sums of money to subsidize drivers, following the same path as Didi.

Cai Bingyao asked, "Mr. Chen, how much do you think Grab's valuation is appropriate?"

"cough."

Chen Dongcheng coughed lightly, thinking that it was finally his turn to perform.

"There should be a lot of VCs who have found you recently. Valuation is one aspect, and the amount of financing is more important to the current Grab, right?"

"Mr. Chen, I don't plan to take out too many shares in the B round."

Cai Bingyao and Chen Huiling are both elite graduates from Harvard Business School, and they understand the horror of taxi software burning money.

They predict that if Grab develops smoothly, it will at least make a Series F round of financing.

If you want to keep your own shares from being diluted too seriously, what you need to do in the early stage is to try to raise the valuation as much as possible and take out the fewest shares.

After all, it is inevitable to take out 10% of the shares in this round.

Chen Dongcheng couldn't remember what Grab's valuation was in this round, so he could only guess blindly.

"The valuation after the investment is 1.7 million US dollars, and I will invest 1700 million US dollars for you."

"$1700?"

Cai Bingyao and Chen Huiling looked at each other and nodded in unison.

This is the highest offer they have heard so far.

There were indeed several venture capitalists who contacted them before, and the valuations they offered were generally around $1.5 million.

The main reason is that their financing speed is too fast. They just completed the A round of financing in April, and they will carry out the B round of financing every month.

For most VCs, this is a gamble.

They are betting on Cai Bingyao's background. At least in the Malaysian market, Cai Bingyao can develop smoothly, which is worth it.

Cai Bingyao enjoys the convenience of being a noble son of a famous family, and the energy of his family makes him highly likely to succeed.

Other local competitors do not know how difficult it is to win the favor of capital.

Cai Bingyao didn't know Chen Dongcheng's bottom line, so he tried several times with no success, so he happily signed the investment agreement.

Chen Dongcheng, who has just loaned out one billion yuan from ICBC, will be very rich.

After the contract was reviewed by Luo Yunqi, Chen Dongcheng signed his name.

Just wait for the funds to arrive, and immediately become one of Grab's shareholders.

The most surprising thing about Cai Bingyao is that he does not have the extravagance and arrogance of the children of the rich and powerful.

Be warm to anyone and have a sincere tone.

At the wine table, Cai Bingyao highly respected Chinese culture and mentioned domestic Didi more than once.

When Chen Dongcheng mentioned Uber, Cai Bingyao also revealed the truth.

"Mr. Chen, the reason why I am in such a hurry to raise funds is because Uber is going to enter the Southeast Asian market. You are also aware of the size of Uber. We are a small company of this magnitude, and they are not in their eyes at all."

Chen Huiling also echoed: "I have used Uber to take taxis in the United States. It is very convenient. At that time, I and Bingyao planned to create a safer taxi software. I was lucky to have Bingyao's background. Investors are very fond of our stories. interested."

It is mainly because of Uber's successful experience that people are willing to listen to your stories.

What's more, Cai Bingyao's family has great energy.

With a good idea and a strong family background, is success still within reach?

After Chen Dongcheng revealed that he was a Didi shareholder, Cai Bingyao was quite surprised.

"Since Mr. Chen is already a shareholder of Didi, would he still be interested in a small company like ours?"

Cai Bingyao is very concerned about Didi and Kuaidi in China.

After all, it is a taxi software company. Knowing more about your peers will help you have a more precise positioning of yourself.

Didi recently confirmed its D round of financing, with a valuation of $35 billion, and the news spread almost throughout the capital circle.

Uber is valued at $170 billion, and Didi is valued at $35 billion.

Compared with these two families, Cai Bingyao's Grab is as fragile and vulnerable as a baby in a swaddle.

Chen Dongcheng smiled and said, "Bingyao, since you understand Chinese culture, you should have heard of the Three Kingdoms, right?"

Cai Bingyao is very smart and can tell at a glance: "You mean that Uber is Wei, and we and Didi are Shu and Wu."

"Yes, although Uber is highly valued, I'm sure it will be difficult for them to win Didi domestically."

Cai Bingyao was a little puzzled: "They raised $12 billion this round, isn't that enough?"

Chen Huiling saw it more thoroughly: "Uber's equipment is more advanced than ours, and its technology is a lot ahead. The most important thing is that they have already achieved profitability in the United States."

"If burning money wins, all capital won't skimp on ammunition, but if burning money is futile, do you think Uber will keep going?"

After Chen Dongcheng asked back, he did not give them a chance and continued: "Didi has raised 7 million US dollars, and Kuai's financing is about to end, and there are also 6 million US dollars."

Cai Bingyao and Chen Huiling are a little envious, Malaysia's population is too small.

They were able to obtain financing so smoothly mainly because of Cai Bingyao's background.

If in the later stage, Cai Bingyao does not show results, and capital is not a fool, it is impossible to continue to invest money for him.

Chen Dongcheng asked with a smile: "Guangdidi and Kuaidi have raised US$13 billion, and Uber's US$12 billion is still going to be used for global expansion. Do you think it's ridiculous?"

In fact, Chen Dongcheng has changed the concept a little bit. Didi and Kuaidi have each raised a lot of money.

But they are not family, but enemies.

It's just that there is now more of a spoiler like Uber.

Cai Bingyao also agrees with Chen Dongcheng's point of view. For example, if Uber first focuses on conquering the Southeast Asian market.

Cai Bingyao and the others must have no power to fight back, so they simply surrendered.

Uber is still a bit arrogant in the end, and they have been held too high for their dominance in the North American market.

Including the founder Kalanick has been somewhat boasted by the media's praise and lost himself.

Uber should never have to. It should choose the domestic market first, forcing Didi and Kuaidi to shake hands and make peace.

Cai Bingyao also knows that Uber's focus must be in the Chinese market, and Southeast Asia is a matter of raking grass and fighting rabbits.

Send a few groups to form a team, it is estimated that it is almost the same.

"If you need technology, Didi can help."

Chen Dongcheng's words surprised Cai Bingyao.

"Mr. Chen, please help me match up, we really need Didi's technical support here."

Although Cai Bingyao and Chen Huiling are both elites at Harvard Business School, they studied business management and knew nothing about technology.

Now recruited a group of R & D personnel, the level is quite general.

Chen Huiling, who has experienced Uber in the United States, asked Cai Bingyao more than once to recruit some high-level software engineers.

Chen Dongcheng called Cheng Wei on the spot, and Cheng Wei was in a meeting.

Cheng Wei motioned for the others to continue the meeting, and went to the window to answer the phone.

"What happened?"

"I'm in Kuala Lumpur to invest in a company by the way, Grab, have you heard of it?"

"Grab?"

Cheng Wei was stunned: "You kid wouldn't put a bug in the conference room, would you? How did you know we were talking about Grab?"

They talked about how to join forces with ride-hailing software companies in Southeast Asia to fight Uber.

Unexpectedly, Chen Dongcheng gave him a surprise.

Cheng Wei hurriedly asked, "Have you agreed? How many shares do you have?"

"Just confirmed, 10% shares."

Chen Dongcheng gave Cai Bingyao a reassuring look and said the key point: "They also want to reach a strategic cooperation with Didi, but you need to send a few engineers over there to help them develop the software first."

"This is simple, our technical department can send a few employees over to guide."

Cheng Wei agreed without hesitation, and then chatted with Chen Dongcheng for a few words before hanging up.

Cai Bingyao hurriedly held Chen Dongcheng's hand with both hands, and thanked him, "Mr. Chen, thanks to you this time, otherwise we don't know when the taxi software will be developed."

"It should, after all, we are now on the same front."

Cai Bingyao smiled knowingly: "Yes, we are on the same front."

Chen Dongcheng not only pointed out that he is a shareholder of Grab, but also pointed out that Didi and Grab also formed an alliance to cooperate with each other and jointly resist Uber.

For the investment agreement, Chen Dongcheng has no other requirements.

It is only for follow-up financing, and I have the right to follow the investment.

At least until Grab's valuation soars to one billion US dollars, Chen Dongcheng intends to follow firmly.

There are many projects with a considerable return on investment, but there are only a handful of companies that can rank among the super unicorns in the future.

Chen Dongcheng will not miss anyone who can get in touch.

Other people's investment does not necessarily make money, and Chen Dongcheng's investment in projects is not a big profit.

Lime Capital completed another small and medium investment, and several venture capitalists who contacted Cai Bingyao before were somewhat surprised.

I didn't expect this project to be blocked. It stands to reason that their valuation is already high enough.

After a little check, I found that this lime capital is not the venture capital that invested in Hungry some time ago?

Unexpectedly, this newly established venture capital can reach far enough.

There are no secrets in the capital circle, especially some of the heads of these investment institutions.

When they attend the cocktail party, they often talk about which projects in the circle are the most popular recently.