Chapter 219: Deal Price: 45.8 Billion Yuan! Who Will Be Gaode

Yanjing, Changsheng Road No. 18, Sanwang Coffee House.

Hou Jun and Xiao Jun sat on outdoor chairs, gazing at the opposite Gaode Maps headquarters building, their eyes flickering with memories.

Back then, Gaode was merely a division of Datong Industries.

The three of them purchased GPS navigation devices from Nihon, localized the software embedded in the hardware, and finally paired it with China's maps.

This was the original prototype of Gaode!

"At the time, I rented fifteen cars and drove all over Yanjing with surveying equipment; only after finishing the map survey did I realize we didn't even have the legal surveying qualifications."

Xiao Jun lifted his coffee and took a small sip.

"I owe you an apology," Hou Jun sighed, his tone sincere.

Xiao Jun was the true founder among the three; he and his team spent over half a year surveying the entire country to complete Gaode's first nationwide digital map.

In terms of business capability, he was the best of the three.

But when it came to internal power struggles, Xiao Jun was no match for Hou Jun and Cheng Congwu, both finance and investment executives.

He chose the industry, and even the name "Gaode" was bought by him from a friend.

Yet until Gaode was about to be sold, Xiao Jun never became CEO, and he held the smallest equity stake among the three.

"Let bygones be bygones. To be honest, I once thought you weren't fit to be CEO, but Cheng Congwu is even worse—he didn't focus on business after taking over, instead targeting Gaode's veteran employees. But I know deep down, the person he really wanted to target was me."

Xiao Jun waved his hand, speaking lightly, yet a bitter smile crept across his face.

"So selling is better! Look, how long has it been since we three had a meal and a chat together?"

Two years ago, Hou Jun voluntarily stepped down as CEO—partly for other considerations, partly to end the conflict among the three.

After all, he, Xiao Jun, and Cheng Congwu had worked together for years at Datong Industries; he truly didn't want to end up losing even their friendship.

"It seems Cheng Congwu talked to you," Xiao Jun said with certainty.

Otherwise, knowing Hou Jun as he did, he would never have easily given up his Gaode Maps equity.

"Yes, Congwu did approach me. Compared to Baidu Maps, Gaode has never had an advantage in data collection and integration, and with funding shortages, our map updates lag far behind Baidu's. If things continue like this, Gaode's market share will inevitably be overtaken by Baidu Maps."

"Better to sell now while the price is high!"

Hou Jun remained calm, showing no intention to hide his thoughts.

"If you only think about making money without improving the product's core functions, isn't it natural that the market keeps slipping away?"

Xiao Jun snorted, as if recalling unpleasant memories, and fired back without restraint.

Hou Jun knew he was in the wrong; after a long silence, he spoke softly: "I've already reached an agreement with Cheng Congwu on the sale. Whether you agree or not won't change the final outcome."

"Hou Zong, if your purpose in meeting me today was to get my support for Gaode's privatization, no problem—I'll agree."

Xiao Jun didn't get angry; he agreed readily.

Hou Jun and Cheng Congwu had ultimately been his mentors. Though they'd clashed over company management and broken ties, he knew Hou Jun was right: better to sell at a price everyone could accept than wait for Baidu Maps to overtake Gaode.

Hou Jun looked at Xiao Jun, a wave of guilt rising in him—he couldn't help thinking that if he'd supported Xiao Jun's rise, Gaode might not have ended this way.

But this negative emotion passed in an instant, quickly drowned out by the impending $114 million payout, replaced by deep joy.

Hou Jun held a 17% equity stake in Gaode Maps; once the deal closed, he could use this money to launch a new project or comfortably enjoy the rest of his life.

He was already forty-eight, halfway through life—if he didn't enjoy it now, he might never get the chance.

"Waiter, check, please!"

Xiao Jun understood Hou Jun's intent and stood up to leave.

All those earlier words were just to get him to agree to sell his shares—he'd actually thought Hou Jun had invited him here for nostalgia.

At this moment, Gaode Maps' headquarters building still glowed brightly with lights.

These people didn't know that the company's three major shareholders had already decided to sell the entire company, along with its staff, to Senlian Capital.

The next morning.

Chen Yan, Gao Weilin, and Song Yuncheng drove to No. 18 Changsheng Road; as soon as their car stopped, Cheng Congwu and a middle-aged man wearing gold-rimmed glasses came forward to greet them.

"Chen Zong, this is Hou Jun, chairman of Gaode."

Cheng Congwu gave a brief introduction.

"Hou Zong, nice to meet you! I'd like to take a look around first—I hope you don't mind?"

Chen Yan asked with a smile, secretly sizing up Hou Jun.

According to Gao Weilin's investigation, this man was a graduate of Yanjing University's Ancient Texts program, yet became chairman of an automobile sales company (Datong Industries)—his capability was evident.

He then leveraged Datong Industries' resources and network to incubate Gaode Maps and wrested a major Toyota order from Sivision Maps.

One must admit: history majors are all masters of manipulating people.

With one glance, Chen Yan could tell: Hou Jun's withdrawal from Gaode's daily management had nothing to do with losing to Cheng Congwu.

This man was far smarter than Cheng Congwu!

"Of course not, Chen Zong, this way please!" Hou Jun smiled warmly.

The group entered the lobby, took the elevator, and arrived on the second floor.

As they walked, Cheng Congwu explained to Chen Yan: "Chen Zong, this is Gaode's most core department, responsible for map data collection and surveying."

Chen Yan nodded slightly; the entire floor held about four hundred people.

"The third floor is the Mobile Products Department, mainly responsible for Gaode App development and optimization; the fourth floor is the B2B team, whose core business is partnering with car manufacturers to pre-install navigation systems. The headquarters has roughly two thousand employees."

"Additionally, the CP zone houses a data production base, with market sales centers in Shanghai and Xiamen, and a navigation engine R&D center."

Cheng Congwu detailed every asset and patent of Gaode.

"Cheng Zong, I heard Gaode has another founder—why haven't I seen him?"

Chen Yan asked.

Cheng Congwu paused slightly, his expression turning awkward, but he quickly recovered and replied calmly: "Xiao Jun was Gaode Maps' former COO, but he resigned last year. He now serves as a director and advisor, rarely coming to the office."

Advisor?

Chen Yan found it amusing—this title had been thoroughly corrupted by China's internet industry; anyone holding an "advisor" position without real power was usually a high-level executive who lost an internal struggle and was pushed out.

The titles of director and advisor were merely Cheng Congwu's final gesture of face-saving for Xiao Jun.

Chen Yan smiled and didn't press further.

After touring Gaode's headquarters, he signaled for Cheng Congwu to lead him to the conference room.

Hou Jun said almost nothing throughout, as if deliberately avoiding stealing Cheng Congwu's spotlight.

They entered a spacious, bright conference room and took their seats.

The topic returned to last night's discussion, and both sides resumed negotiations on the acquisition price.

This time, Chen Yan didn't intervene; he left everything to Gao Weilin, instead sipping tea and chatting casually with Hou Jun.

Originally uninterested in conversation, Hou Jun didn't realize that once Chen Yan began speaking, he unconsciously felt an odd sense of familiarity, his gaze toward Chen Yan softening, finding the young man increasingly likable.

As they chatted, Hou Jun even revealed his latest project.

He'd never told this project to Xiao Jun.

"What's wrong with me today?" Hou Jun vaguely sensed something off, but couldn't pinpoint what.

"Fenghuanggucheng?"

Chen Yan looked slightly surprised—he hadn't expected Hou Jun, a cultured man, to have targeted cultural tourism projects as early as 2012, and to have successfully secured a fifty-year operating right to eight scenic spots in Fenghuang County with 900 million yuan.

"Chen Zong, do you think such cultural tourism projects have market potential?" Hou Jun asked with a smile.

"Hou Zong has exceptional vision—these cultural tourism projects are usually impossible for outsiders to handle."

Chen Yan praised.

This wasn't flattery; imagine an outsider arriving in a completely unfamiliar place to develop tourism—even if he cleared all the initial procedures, he'd be stripped of skin.

Chen Yan knew Chunshen planned to enter tourism, yet he said nothing, because he understood the saying: "Shallow waters attract many turtles; small temples harbor strong demons."

Hou Jun lowered his voice: "Chen Zong, you flatter me—I relied on local agents to get this project through safely."

Chen Yan understood: in his view, Hou Jun was clever—he wouldn't make such a basic mistake, especially in interpersonal dealings. He'd used a white glove.

After their conversation, he grasped the real reason Hou Jun stepped down as Gaode's CEO: he'd simply shifted his focus to cultural tourism development.

And Cheng Congwu was also a core investor in this cultural tourism project.

Chen Yan secretly sneered, feeling sorry for Gaode's last founder—apparently, the internal struggle he thought he'd endured was just a performance staged by others.

Two finance experts had forcibly kicked out Gaode's core business staff!

Similar situations were common in the industry: Wang Zhidong of Sina, Sun Tongyu of Taobao, Ni Guangnan of Lenovo.

Xiao Jun wasn't the first, and he wouldn't be the last.

By noon, Gao Weilin and Cheng Congwu still hadn't reached an agreement, so the group headed to a nearby restaurant for lunch.

Gao Weilin held the asset valuation report for Gaode Maps, jointly issued by finance, legal, market, and third-party research firms; Cheng Congwu held detailed asset and patent analyses, along with complete Class-A surveying qualifications, arguing fiercely with Gao Weilin.

After a brief afternoon break, both sides, having reflected calmly, began moving toward their respective target prices.

Cheng Congwu no longer held firm at $1. billion; Gao Weilin, upon Chen Yan's instruction, offered a new bid of $1. 6 billion.

But Cheng Congwu remained unsatisfied—he would only concede to $1. 6 billion per share.

Seeing negotiations on the verge of collapse, Hou Jun spoke up: "Why not each side take a step back? Let's meet at $1. 1 billion?"

"$1. 8 billion. Higher than that, no deal—I'd rather go with Sivision Maps."

Chen Yan said casually.

These words set a countdown to the negotiation's end: Hou Jun and Cheng Congwu had to accept or reject.

They exchanged glances, both showing signs of hesitation.

Though the price difference seemed only $0. 3 billion, for Hou Jun, it meant losing $28 million—enough to buy a 700-square-meter villa in Yanjing's Second Ring Road.

Yet under Chen Yan's mental pressure, Hou Jun sensed that if he rejected this offer, the man might truly turn to Sivision Maps.

Although there weren't many companies in China with Class-A map surveying qualifications, Chen Yan had money; if he truly wanted to acquire one, it wouldn't be difficult.

Three minutes later, Hou Jun gave a slight nod and cast a glance at Cheng Congwu.

"Mr. Chen, let's tentatively set the price at $12. 0 per share. I'll initiate the privatization and delisting process as soon as possible. A premium of $1. 0 per share should satisfy investors—it shouldn't be an issue."

Cheng Congwu stood up and shook hands with Chen Yansen, signaling his agreement.

Gaode Map's total shares amount to 54. million; at $12. 0 per share, Senlian Capital must pay $695 million, roughly 4. 8 billion yuan.

After completing this transaction, Senlian Capital's account balance will be nearly depleted.

But Chen Yansen wasn't worried—Pinpei and Orange Tech each brought in at least 3 billion yuan in monthly gross profit.

After preliminarily confirming the acquisition intent and price, Gao Weilin will handle the next steps, requiring the formation of a professional team of lawyers, accountants, financial analysts, and due diligence experts to verify the authenticity of Gaode's cash flow and negative asset data.

At 4 p. ., Chen Yansen declined Cheng Congwu's dinner invitation and had the driver take him to Xiaomi's headquarters.

Gao Weilin let out a long breath—he was exhausted!

He had argued with Cheng Congwu all day!

"Anyone who can be a boss must have boundless energy!" Gao Weilin grumbled inwardly.

Chen Yansen sat in the back of the car, holding his phone, typing a message to an unfamiliar number.

Meanwhile.

The food delivery war between Kuai Pao and Ele. e in Shanghai was still raging.

(End of Chapter)