Shawn Yue, Vice President of AutoNavi, looked solemn:

"Affected by the cold winter in the global automobile industry, starting from the Q2 quarter of this year, the revenue of in-car navigation, the pillar industry of AutoNavi, has fallen to the bottom!"

Everyone looked gloomy, and the revenue of the pillar industry was cut in half, dealing a fatal blow to Gaode.

"Fortunately, we transformed in advance and deployed mobile Internet navigation services. Today, mobile Internet navigation services are growing rapidly, accounting for 57% of the company's total revenue in Q1, rising to 38% in Q4, becoming the second pillar industry of AutoNavi.

!”

Shawn Yue said word by word: "And the potential is amazing. In other words, the main profit point of AutoNavi in ​​the future lies in mobile navigation. Once Director Wang makes free mobile navigation, we, AutoNavi, will be finished!"

Hearing this, everyone nodded:

"Yes, even if Sogou Maps is not as good as Amap, it is free! In China, free means invincible."

"Furthermore, Mr. Wang is very wealthy. As long as he invests money to buy NavInfo's latest map data, it will only be a matter of time before Sogou Maps catches up."

"There are free Sogou maps, who is willing to continue to spend 50 a month to use our Amap navigation? Then we are finished!"

"Is Mr. Wang crazy? I understand that he is doing Baidu, but is it necessary to kill a thousand enemies and lose eight hundred to himself? What is he trying to do?"

Cheng Wu laughed dumbly: "Director Wang said that it is a good deal to use billions of losses to exchange for tens of billions of Baidu's market value evaporating!"

"!!!"

"..."

"grass!"

The whole room was silent, completely unable to refute!

After a long time, Shawn Yue sighed: "It's very cost-effective for him to do Baidu, but we Gaode are innocent! We didn't provoke him!"

"That is, once Sogou Maps becomes free, Baidu's market value will plummet, and our Amap's market value will also plummet! Baidu's market value will evaporate by tens of billions, and our Amap will also lose billions! It's too cruel!"

Cheng Wu sighed: "So Director Wang made a proposal. In order not to accidentally hurt us, he first took over AutoNavi at the current market value of 3.3 billion yuan! Then he launched it for free and killed Baidu!"

"This..." Everyone in the room fell silent, and their expressions became very complicated.

It took a long time before someone said: "It's so cruel, so cruel! But is it worth it?"

Cheng Wu smiled: "What's not worth it? The acquisition of AutoNavi for more than 30 billion yuan will wipe out Baidu's market value of 30 billion yuan. Do you think it's worth it?"

"Absolutely, Mr. Wang is a ruthless person!"

"In order to succeed Baidu, I will spend more than 3 billion to acquire Gaode!"

"Oh, this is in line with Director Wang's style of doing things."

"That's right, Director Wang always does what he does if he doesn't accept it, and he makes acquisitions when he's told!"

"But do you think there is any fraud in this? Could it be that Director Wang wanted to buy AutoNavi at a low price and deliberately released false news about free navigation to scare us?"

"It's possible, and we have to guard against this!"

But Shawn Yue shook his head: "The possibility of false news is unlikely. After all, this is Wang Yi's style of doing things. Young people, if you don't accept it, just do it!"

"That's right, Director Wang paid 500 million from Sogou to do Baidu search. Now it's normal to take 3.3 billion from Gaode to do Baidu Maps."

"I estimate that 80% of the time he is really free."

"I think so."

Cheng Wu nodded: "The matter of free navigation is very close, the key is shareholders, what are you going to do?"

"What else can we do? Mr. Wang is determined to make free navigation, but Amap cannot bear it. Rather than cutting the market value in half, it is better to sell it in advance."

"Yes, it's sold. Everyone cashes out at a high price. At least they won't lose money!"

"Sell it! As long as the price is reasonable, I have no problem with it."

"In the cold winter of the automobile industry, the revenue of car navigation has dropped sharply. Baidu is eyeing the mobile terminal, and another Wang Dong has come and made it free! Damn it, the navigation is no longer fun. Sell it and get it."

"Yes, with the two of them, the entire navigation industry is ruined. If we don't cash out at a high level now, it will be even worse in the future."

"Sometimes, it is also a kind of wisdom to stop losses in time."

"Yes, if you sell it now, at least you won't lose money. If you don't sell it now, once it starts for free, it will be over."

"Okay, let's vote." Cheng Wu said: "Those who are willing to sell to Director Wang, raise your hands!"

Considering the current situation of AutoNavi, several founders have different opinions and are very conflicted about the future development direction...

Although one of the founders is gone, it is still difficult to say who is right or wrong between the CEO and the Coo.

Coupled with the toll-free crisis and the cold winter in the automobile industry, several major shareholders feel that AutoNavi’s future is unpredictable and they might as well cash out at a high position!

After all, the map industry is a money-burning but unprofitable field.

Immediately everyone raised their hands in support of the sale.

Cheng Wu counted the numbers and continued: "Those who oppose the sale of Gaode, raise your hands."

This time, no one raised their hands.

"Eight people supported it, two people abstained, and 0 people opposed it!"

Cheng Wu sighed: "This resolution has been passed. Gaode will be sold to Director Wang. Let's discuss the price."

"What Director Wang means is that if we buy it according to the current market value of AutoNavi, we won't lower the price. But I guess it's not easy to raise the price too much. After all, once it's free, the market value will inevitably collapse."

Everyone nodded and understood the truth.

Navigation is an industry that is a trap for thieves, burning hundreds of millions every year, but it is so difficult to make a profit!

In particular, car navigation revenue has been cut in half, and the mobile version is free!

To add insult to injury, it’s really terrible.

In his previous life, Gaode suffered too many losses and could no longer bear it, so he accepted investment from Alibaba in 2013 and sold himself directly to Alibaba in 2014.

In this kind of industry that only burns money but does not make money, only BAT can afford it.

Without Alibaba, Amap would have gone bankrupt long ago.

Vice President Shawn Yue took a deep breath: "Chairman, the current market value of AutoNavi is US$500 million. Try to negotiate for US$700 million. If the negotiation fails, then settle for the next best deal, US$600 million!"

"Yes, 600 million US dollars is the bottom line, a 20% premium!"

"Too little, not worth it!"

Cheng Wu waved his hand: "Based on the current market situation, a 20% premium? What are you thinking? A 10% premium would be great!"

"Haha, that's true." Everyone laughed bitterly.

The situation is stronger than the person!

Amap's stock price broke immediately after its listing. To put it bluntly, capital is not optimistic about it.

As long as the capital is optimistic, the market value will not be only 500 million US dollars!

Director Cheng looked around at the crowd: "I will try my best to negotiate for US$600 million. If the negotiation fails, I will strive for US$500 million!"

"good!"

Everyone nodded, free navigation was coming, a 10% premium, 500 million US dollars would be pretty good.

After all, once free navigation is enabled, it might even be difficult to get 500 million US dollars, let alone 500 million US dollars.

Thinking of this, Cheng Wu quickly dialed Wang Yi's phone: "Director Wang, Gao De just held a board meeting and passed the resolution to sell. However, I hope the price can be higher."

Wang Yi smiled. As expected, facing the black swan of free navigation, Gaode couldn't bear it anymore.

In the previous life, Gaode had Alibaba's capital and local life services, so he dared to provide free services.

But now Gaode has nothing. Once it is free, it will be dead!

Wang Yi smiled slightly: "I wonder what price Director Cheng plans to offer?"

"USD 600 million, what do you think?" Cheng Wu directly quoted a reliable price.

"The premium of 20% is a bit high." Wang Yi sighed:

"Let's do this, Director Cheng. The current market value of AutoNavi is 500 million US dollars, so let's give it a premium of 10%! If you are willing, we can sign a contract right away. If not, then I have no choice. Anyway, I must do Baidu, and I must do free navigation.

Gotta do it!”

The implication is very simple. The purpose of acquiring AutoNavi is to not accidentally hurt you and to compensate you.

It’s not that I, Wang Yi, have to be highly virtuous!

Now I am Party A!

Wang Yi's words were heard throughout the conference room through the microphone.

Cheng Wu frowned slightly and looked around at the other major shareholders.

They looked at each other and nodded.

If it is not sold for 500 million US dollars now, once it is opened for free, it will be difficult to get 500 million US dollars next year!

Cheng Wu sighed: "Okay, let's take the price of US$500 million!"

"good!"

In order to prevent long nights and long dreams, both parties made progress in subsequent acquisitions very quickly.

The equity transfer agreement was signed the next day, and all the shares of several major shareholders were first taken over.

Wang Yi then initiated a buyback procedure to delist AutoNavi from the US stock market!

Without him, Wang Yi was worried that after procrastinating for too long, Ali came to his senses and intervened.
To be continued...