Reborn multinational giant

Hearing Shen Nanpeng's question, many people on the scene quietly came down, and they also wanted to hear the answer of the new expensive CEO of Express Taxi.

Express Taxi is one of the ancestors of taxi software in China and even the world. It is six months ahead of Uber, another taxi software giant invested by foreign exchange companies.

Cheng Xiaodong, the founder of Express Taxi, started his business after graduating from the Dark Horse College founded by Fang Zhe early in the year. Although his achievements are not comparable to those of Fang Zhe, he has long been among the top Internet giants in China.

Today, express taxis account for more than 70% of the domestic taxi market. In overseas Korea, Japan, Southeast Asia, as well as Central Asia such as Oros and Hasakstan, South Asia such as India and Iran, or West Asia are also the number one taxi software!

More than half a month ago, Express Taxi completed its D-round financing since its founding, with a financing amount of up to $6 billion and a market valuation of up to $30 billion, compared to Uber, which occupies the markets of North America, Latin America and Europe abroad, with a valuation difference of only $10 billion!

Compared to the previous life, QUAT taxis with investment and help started the internationalization process earlier and faster. Although QUAT taxis did not quickly occupy the global market due to the rise of Uber, they now occupy the market map, and there are half the planet. This is far better than most domestic Internet giants that only operate in China.

Express taxis valued at 30 billion US dollars, their market value is enough to rank in the top ten in the domestic Internet industry. By the time Shen Nanpeng asked Cheng Xiaodong, all the elders in the audience gradually quieted down. Even Fang Zhe and President Ma looked at the main project Xiaodong.

After being stared at by so many big guys, Cheng Xiaodong is not nervous or unnatural. After several years of entrepreneurship, the spotlight and media have exercised his courage.

“In the next step, we intend to continue to consolidate market share in the countries and regions where we operate, in order to secure a strong rear before joining up with Uber Private! There are no plans for listing yet. ”

Although Cheng Xiaodong's answer was simple and plain, everyone could hear the smell of gunpowder.

In the last few years, Express Taxis have been radiating from China to surrounding Japan, South East Asia, Central Asia, and Uber, from Silicon Valley to North America, Latin America, and Europe.

At present, both families have a tacit relationship, each striving to develop on their own territory and suppress other competitors, even in the valuation of the capital market, they are also remote correspondence.

However, compared to the smooth development of Uber abroad, it is almost difficult to have a large-scale competitor. Express taxis meet a relatively strong competitor in domestic and Japanese, South East Asian and other markets. Then it is the second-largest taxi software in these markets. Quick taxis!

Originally, after the rise of Express Taxi, with the investment and support of Huizhou, it is difficult to emerge a large taxi software company in the domestic market and other markets. More than a year ago, the famous Express Taxi took the line of Tencent and Baidu, and accepted the investment of two giants at the same time.

Now, the taxi started to get wider and started several rounds of "money burning war" in the taxi software industry!

At the end of last year, fast taxis began to provide crazy subsidies to drivers and users. The user's taxi fare was reduced by 10 yuan per order, and the driver received a reward of 10 yuan per order. In just half a month, the market share of fast taxis doubled, accounting for the share of the entire taxi software market, reaching as much as 8%.

Though the market share of more than 70% of fast taxis is far from adequate, its crazy growth rate is enough to keep fast taxis on alert.

Yes, half a month after the quick taxi started burning the money subsidy, the quick taxi had to respond to the war and started burning the money subsidy.

At the end of December last year, Express Taxi also began to reduce taxi fare for users by 10 yuan per order, and the driver received a reward of 10 yuan per order.

Then, the subsidy for quick taxis has been upgraded!

After New Year's Day, the subsidy for quick taxi to users per order increased to 10-15 yuan, and the driver's reward for each order reached 10-15 yuan. Perhaps it was to see such a small increase in the subsidy amount, and did not quickly attract users to use quick taxi as before. Starting from mid New Year's Day, the subsidy fee for quick taxi to users directly doubled, rising to 20 yuan, and the driver's reward also doubled to 20 yuan, many users whose fare is less than 20 yuan, which is equivalent to direct exemption!

Free rides. Who doesn't? Since then, the growth of fast taxi users has entered a new explosive period. Although fast taxis know that such mad money burning is deforming the market competition, but watching the number of competitors' users and market share grow wildly, how can they be indifferent!

Yes, from that time on, Qianshan formulated a competitive strategy, how much Qianshan subsidy, and how much Qianshan subsidy. Since they want to burn money, let's burn it, see who can afford it?

The two fast and peaceful taxi software companies started a war to burn money, but they suffered from the various small taxi software that had been enduring in the market before, and their users were already small. Now attracted by the two giants burning money, they directly entered the process of bankruptcy and bankruptcy.

The entire taxi software market was caught up in fierce competition. The subsidies war burned from home to abroad, from Japan and South Korea to Southeast Asia, and even to India. I don't know how many international friends it was convenient for.

At the peak of the money war, the Brazilian World Cup was held in June this year. In order not to miss this rare marketing opportunity, both sides started the biggest money burning subsidy war in the history of taxi software.

“Taxis cost not only money, but also money!"

The first taxi for each new user is not only free, but also an additional 5-10 yuan taxi red envelope. Each newly registered driver will receive an additional 50 yuan for the first order!

Sources later revealed to the media that during the last half month of the World Cup, the two sides subsidized less than $500 million each, and on the day of the World Cup final, both sides renewed their records, each reaching an astonishing $100 million!

A daily subsidy of $100 million! What concept? Nearly 700 million yuan!

Spill 700 million yuan a day. If Fang Zhe is the richest man in the world, he rarely dares to play like this!

The market was shocked, users went crazy, and the two companies couldn't hold on. As the World Cup ended, the two companies tacitly stopped massive subsidies to users and drivers.

According to Cheng Xiaodong later revealed to Fangzhe, from the end of last year until the end of this year's World Cup, the two companies simultaneously stopped the subsidy war, fast taxi, burned nearly 2 billion dollars, equivalent to nearly 14 billion yuan!

Cheng Xiaodong estimated that quick taxis that start subsidizing earlier than express taxis and subsidize more by new users can only burn more than express taxis. According to their data set, the other party's burning amount is at least between $2.3-25 billion!