Chapter 602: Chapter 395 I’m Also Helpless
lon Seed Used Cars started from the day his sister got married.
On his side, they obtained two hundred million in financing, and he subsequently invested another one and a half billion into this project.
And successively brought in big investors like Tong Zelan and Shen Nanpeng.
As of now, lon Seed Used Cars has completed nearly four billion in financing.
This is a huge amount of funds for the entire used car industry.
Buying a car ans loss, as the price of a new car often has to be discounted by 30% the mont it is bought.
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However, used cars do not have an acquisition tax and have already depreciated from the new car base price.
It can be said that as long as you don’t buy a car that has been in an accident or flooded,
choosing a used car is still a very rational and money-saving behavior.
The only obstacle to the developnt of this industry is the issue of custor trust.
Many used car dealers buy these flooded cars at the lowest price and then sell them to custors at normal prices.
Over ti, many people have lost trust in the used car market.
Chen Pingsheng’s requirent for lon Seed Used Cars is to resolve custor trust issues.
Implent a three-package quality assurance.
Once this issue is resolved, sustaining a internet company worth several tens of billions with the volu of dostic used cars is not far-fetched at all.
After receiving his investnt, lon Seed Used Cars quickly outstripped its peers.
The fundantal logic of internet companies is simple, initially, it’s about spending money to acquire users.
Then obtain large financing from the capital market with a huge user base.
Use capital funds to quickly eliminate competitors and thus set new rules of the ga.
Whether it’s Didi or ituan, it can be said that they both rose up following this formula.
The only difference is how much money is burned.
With his support, lon Seed Used Cars hasn’t encountered any worthy competitors.
Those offline used car dealers are not enough to challenge him.
Forty billion is enough to dominate a niche market.
Nurtured for nearly three years, lon Seed Used Cars is just a bit away from making real profits.
But internet companies do not determine their market value by profit, but by user volu and industry position to assess valuation.
Jiang Jia, the earliest co-founder of lon Seed Used Cars, was also a university goddess of Hu Lin, his brother-in-law.
From the mont she received his financing, her destiny can be said to have undergone a trendous transformation.
It’s no exaggeration to say that Chen Pingsheng now holds an industry status in the capital market no less than Alibaba and .
He only restrains from investing in those traditional small industries due to his status, which doesn’t an his say in traditional industries has disappeared.
lon Seed Used Cars was his first internet project investnt, followed by ituan and Pinduoduo.
Jiang Jia set up the headquarters of lon Seed Used Cars in Capital City, and Magic City also has a large division.
She does not hold many shares in lon Seed anymore, but going public could still be worth a few hundred million.
This is much stronger than working for soone else.
On the last day of February, she finally brought the lon Seed team to Magic City to et Chen Pingsheng, the earliest angel investor of lon Seed.
And to submit the detailed operational report of the past few years.
Even though Jiang Jia is now a co-founder of an internet company and the biggest female boss in the used car industry,
she was still very nervous and apprehensive when eting Chen Pingsheng, just like when she first wanted to et him through Hu Lin.
At that ti, he was a film mogul holding sway over half the entertainnt industry’s traffic and top-tier celebrities.
The projects he later invested in could go public within a year, firmly establishing his title as the top investor in traditional industries.
Online, he was even nicknad the “Uncle Biking”, referring to his investnt in the Commoner School Beauty, Chu Qiuyan.
Looking at lon Seed Used Cars, it’s definitely the slowest developing among his investnt projects.
Not only has it not made a single cent in three years, but it has also burned through tens of billions.
Still, he has never interfered with their specific operations.
Perhaps there’s simply no need; given the scale of Tengying Group now, investing in the catering industry or traditional retail,
would probably be seen as bullying the small players.
Just as he said himself, what are traditional catering or retail industries.
Couples work hard to save up a few hundred thousand to start a small shop, working tirelessly day and night.
He went in and it was directly several billions.
Ordinary people simply can’t play this ga.
This is the real reason why the state issued a red-header docunt restricting Alibaba, JD, and ituan from entering the grocery market.
Such huge capitals competing with vegetable vendors for business, if not restricted, will only allow large capitals to infinitely squeeze the living space of ordinary people.
lon Seed Used Cars is still okay, from the mont it received financing, Chen Pingsheng’s request was to solve the trust crisis that custors have towards used cars.
The year 2018 was not only the last chance for real estate cash-outs but perhaps also the last frenzy of capital.
He insisted on completing lon Seed Used Cars’ IPO cash-out before the changes of the tis.
Jiang Jia ca to et him and genuinely reported the specific operations over the years.
From the data, lon Seed Used Cars’ sales accounted for more than half of the entire online car sales market share.
It accounts for 15% in the national used car sector, which is about one-seventh.
Even without a single cent of profit, a valuation of over ten billion is definitely not a problem.
In reality, it’s indeed so, Chen Pingsheng asked her to go to the Xiangjiang headquarters.
There, contact Guo Ziyi and Tong Zelan to oversee the IPO and financing of lon Seed Used Cars.
Tengying Group in Xiangjiang has a very complete capital team, and as long as the data ets the standards, the IPO can be completed quickly.
This won’t involve too many surprises, after all, he is no longer the person he was three years ago.
A large batch of capital tycoons bound to the Tengying Group have grown into towering trees, pushing several hundred-billion-level IPO projects for them is really not too difficult.
Only those who have not yet entered this circle would find this process as difficult as reaching the sky.
Once the IPO is completed, Jiang Jia herself could also achieve financial freedom.
He himself still owns half of lon Seed’s shares, how much he can cash out depends on the IPO value.
Chen Pingsheng didn’t bother about it anymore.
This June, the globally influential World Cup will start in Russia.
This is the world’s number one sport and also the largest global gambling sport.
By that ti, who knows how many people in the country will go crazy for it.
Unfortunately, Huaxia soccer is definitely a world-class problem.
Every year they shout about entering the World Cup, every year they end up just watching.
Zhang Wanyi ca to see him with a docunt, “Chen, there’s a Football Association leader who wants to arrange a match between Leicester City and the National Football Team in Magic City.”
He invested tens of billions in England just to get the qualifications to buy a club, and then spent fifteen billion in Leicester City to buy world-class soccer talents like Mbappe and Dingdng.
In last year’s English Premier League, his newly bought Mbappe outstripped everyone, and in the UEFA Champions League, he was unstoppable.
Consequently, Tengfei New Energy, which was tied to advertising Leicester City, also gained significant global fa.
Antler Coffee, which joined later, was the sa.
“Arrange the National Football Team to play against them?”
Chen Pingsheng said weirdly, “The National Football Team playing against an English Premier League club, if we really play, wouldn’t it be like playing against children? Does the leader hope we play softly to boost fan confidence?”
“No specifics were ntioned, but they hope you, Uncle Chen, could spare so ti to talk in person.”
“Forget it, just reject it!”
Chen Pingsheng said, “Let’s not get involved in dostic soccer, nor do we need any complications with them. I can’t cultivate a dostic soccer king, but buying a world-class one for the club is still very possible.”
His purchase of Leicester City isn’t a big secret.
Many also regard him as a soccer enthusiast, and the dostic Football Association frequently sends various invitations.
He hasn’t attended any.
Xu Pidai has indeed thrived in dostic football, but when the tide recedes, it leaves only troubles behind.
The superiors always say that the country lacks young people playing soccer.
Yet at the grassroots, a mother with a child who loves soccer has to pay hundreds of thousands just to get into a slightly more formal local team.
And to progress further, continual paynts are needed, directly driving the child’s mother crazy.
In the end, only wealthy children and those from leaders’ families can afford to play soccer.
If this could improve, that’d really be sothing.
He had to admit, even possessing Golden Finger Grandpa, he couldn’t handle dostic soccer well.
This was even harder than having a conversation with Qin Shi Huang.
Every confident tycoon who went in cursed their way out.
Xu Pidai is an exception, which is why he is impressive.
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