Stronger by Paying Salaries and I Have 1 Billion Employees

Relying on her masterful business packaging, Zhao Yingchun touted Jingdong as the Amazon of Asia and Hua Country’s second-largest e-commerce platform, successfully persuading the investors from OTPP.

The two sides hit it off immediately!

OTPP wanted to get a piece of Liu Qiangdong’s eventual IPO!

Liu Qiangdong, in turn, wanted to leverage OTPP’s capital to boost Jingdong’s sales and revenue to the next level, thereby securing a higher IPO valuation.

The valuations offered by brokerages in Hong Kong Island and the Lighthouse Country were nothing short of an insult to him.

”The preliminary market research will take a month. OTPP has never ventured into Hua Country’s internet investment sector before, so they will provide a completely new valuation based on Jingdong’s market size, growth trends, competitive landscape, and relevant policies and regulations.”

”The problem now is that Pinbei has surpassed Jingdong in both daily active users and sales, which is highly likely to affect OTPP’s final offer.”

Zhao Yingchun smiled, lightly tapping the floor with the tip of her shoe. She appeared exceptionally calm and collected in front of Liu Qiangdong.

In her eyes, Jingdong was merely a stepping stone for her to cash in on her own resources. The moment she took the company public would be the time for her to leave.

’Pinbei?’

The corners of Liu Qiangdong’s mouth turned down, a flash of anger appearing on his face, but he was helpless to do anything about it.

Jingdong’s sales were concentrated in the 3C digital, large appliance, and small appliance categories—all of which suffered from low repurchase rates and high customer acquisition costs. Compounded by a lack of free external traffic, this meant Jingdong’s customer acquisition costs were exorbitant. With daily active users stagnating, sales naturally followed suit.

After their falling-out with Pinbei during the 418 Home Appliance Festival, Jingdong pulled its first-party products from Pinbei Mall, and its average daily sales declined yet again.

It had taken Jingdong over a decade to accumulate a hundred million users.

Pinbei, however, had done it in just two months!

’Compared to Chen Yansen’s methods, I’m just a greenhorn. All my hard work over the past decade-plus can’t even compare to what he’s done in a year.’

”I get it. Push it forward as fast as possible. It would be best to get this done before October.”

Liu Qiangdong looked up, his expression grave as he gave the instruction.

Jingdong desperately needed a cash infusion. Otherwise, how could it compete with Taobao and Pinbei during Singles’ Day?

’Damn those independent bloggers,’ he thought. ’Spreading rumors all day that Jingdong is at risk of its funding chain breaking. Some of our suppliers are even starting to believe it.’

If Xu Xin of Today Capital hadn’t personally fronted him a hundred million in emergency funds, he’d probably have already been forced to swallow his pride and beg Ma Huateng for an investment.

”President Liu, regarding the traffic partnership with Penguin Group, I suggest we delay it for three to six months. It will be more advantageous for you and for Jingdong if we restart negotiations after securing the financing from OTPP and the investors in Europe and America.”

Zhao Yingchun advised.

The tier-one traffic portals on WeChat and QQ were important, but Ma Wenteng refused to pay in cash. He was only willing to offer equity in three toxic assets: QQ Online Shopping, Paipai Network, and Yixun Network.

”Don’t worry, I know,” Liu Qiangdong replied, nodding.

Only after Zhao Yingchun left did Liu Qiangdong finally let out a deep breath.

’No one knows better than me just how many crises are lurking beneath Jingdong’s seemingly booming exterior.’

Fortunately, Zhao Yingchun had joined just in time, bringing with her OTPP’s interest in investing in Jingdong.

Liu Qiangdong felt as though he had been standing at the edge of a cliff, only to be pulled back from the brink.

He leaned back, sinking into his chair. Through the glass, his eyes happened to fall upon a once-familiar workstation.

At this moment,

’Well, out with the old, in with the new,’ Liu Qiangdong thought with a faint, philosophical smile.

BZZT BZZT BZZT—!

The phone on his desk suddenly began to vibrate violently!

Liu Qiangdong glanced at the screen. ’Looks like Penguin already got the news,’ he thought. ’They want to sound me out.’

After a moment’s thought, he answered the call. ”President Lin, has Mr. Ma agreed?”

”Not quite,” Lin Chenfeng replied with a chuckle. ”Mr. Ma’s stance is still a 10% cash and 90% equity payment.”

’Fuck!’

’Does he really think I’m some kind of garbage picker?’

Suppressing his displeasure, Liu Qiangdong asked calmly, ”Then what’s the good news you have for me, President Lin?”

”Mr. Ma has approved the Jingdong investment proposal. It will be brought before the board of directors next week, and there shouldn’t be any surprises. I wanted to touch base with you, President Liu, to schedule the financial and operational data review, so we can lock down the valuation and equity percentage as soon as possible.”

Lin Chenfeng explained slowly.

”Is that right? The whole company is busy preparing for the big Singles’ Day promotion right now. It might be... inconvenient.”

Liu Qiangdong casually made up an excuse, trying to stall for time.

’Ma Wenteng doesn’t treat me with a shred of respect, so there’s no need for me to be upfront with him.’

Liu Qiangdong knew perfectly well that Lin Chenfeng wouldn’t believe whatever nonsense he spouted.

It wasn’t that he was refusing to negotiate—he was just delaying. He would negotiate, but slowly, methodically, and on his own terms.

Lin Chenfeng instantly understood what Liu Qiangdong was getting at. ’We’re both old foxes,’ he thought. ’Who do you think you’re fooling with these games?’

’He’s just found another investor and decided to put Penguin on the back burner.’

Lin Chenfeng chuckled, exchanged a few pleasantries, and then hastily ended the call to go report to Liu Zhiping.

On the other side.

After Liu Zhiping learned what had happened, he relayed the information from Lin Chenfeng to Ma Wenteng.

”Pause the investment plan for Jingdong. He wants to stall for time? I’ll let him.”

Ma Wenteng waved his hand dismissively.

’He could stand others up, but that didn’t mean they could do the same to him. Investing in Jingdong was an option, not a necessity.’

’As for Liu Qiangdong, he wasn’t qualified to be negotiating terms with him. Best to let him hang out to dry for a while!’

Liu Zhiping nodded, understanding Ma Wenteng’s plan. He was going to wait for Liu Qiangdong to come begging at his door.

’With the two traffic aces, QQ and WeChat, in its hand, how could Penguin not be able to handle a mere Su Beilao?’

The two men exchanged a knowing smile. Though no words were spoken, they had reached a mutual understanding.

For the foreseeable future, Penguin’s main play in the e-commerce sector would continue to be Pinbei.

The streetscape flew past the window. The sycamore trees of high summer were lush and verdant, and the urgent chirping of cicadas could be faintly heard.

Five minutes later, the Mercedes-Maybach 62S carrying Ma Wenteng pulled up to the entrance of the Sky Garden.

The parking lot was a sea of luxury cars, and the first-floor lobby was packed with people. Inspectors patrolled inside and out, maintaining order and ensuring the safety of the attending guests.

After all, given Orange Technology’s status in the mobile phone industry, more than thirty top-tier international suppliers had been invited to attend.

The group of industry peers included Huawei, ZTE, Lenovo, Coolpad, Xiaomi, 360, and NetEase, among others. It was a mix of established telecommunications companies and internet phone manufacturers, and the executives attending the press conference were all immensely wealthy.

On top of that, there were large crowds of news media and fans.

Although the largest banquet hall on the top floor could accommodate over a thousand people, it seemed inadequate for the occasion today.

As soon as Chen Yansen got out of the car, Wang Teng came up to him. ”Boss, we really should move. Otherwise, we’ll have to keep going to Luzhou, Hu City, or Jinling for our new product launches.”

”Another two years,” Chen Yansen replied with a smile.

Construction on the Luzhou Headquarters had just started; there was no way it could be finished in under two years.

”Are Lei Yijun and Zhou Hongyi here?” Chen Yansen asked.

”They’re here. Director Ye received them. We’ve seated them six places apart, so there shouldn’t be any trouble,” Wang Teng replied instantly, knowing what his boss was truly asking.

”Good. I’ll go on up and take a look,” Chen Yansen said, feeling slightly relieved.

The public might not know, but he was well aware: those two had actually gotten into a real-life fistfight. For the past six months, Zhou Hongyi had even been training in freestyle combat.

He was probably hoping for a rematch with Lei Yijun, since he had lost badly the last time. He’d been beaten black and blue and didn’t even show up at his company for two weeks.

Chen Yansen led Ma Wenteng, Liu Zhiping, and the others to the top-floor banquet hall.

This was the largest banquet venue in Xucheng, and even the Central Bureau often held its meetings here, both large and small.

The room was brightly lit, packed with a teeming audience.

”President Chen!”

”Mr. Ma, what brings you here? Surely Penguin isn’t thinking of making phones too?”

”Martin, long time no see!”

The moment the trio appeared, a crowd of business partners from their circle immediately surrounded them.

”It’s not like Penguin has never made phones. Are you getting scared, Mr. Huang?” Ma Wenteng joked, shaking hands with Huang Zhang of Meizu.

Penguin had indeed made phones before, but they were all carrier-specific, contract-based models that had little to do with Penguin itself.