Chapter 323: Cheng Wei: Think I'm a Dog? Don't Like It? Sue Me! Senior Sister's New Project!

"The higher-ups don't care?"

At Mama Ali's headquarters in Hangcheng, after Ma Liyun learned of this news, his expression was a mix of joy and worry.

What pleased him was that, although there was no explicit regulation, the Bankers' General Association had no intention of suppressing internet finance for the time being, so the Lingqiantong project had no worries from behind.

What worried him was that it would take at least four or five months before Lingqiantong officially launched, and if Yu'ebao were allowed to develop unchecked, Mama Ali would lose its first-mover advantage.

"President Ma, Zhifubao has 600 million registered users. Even if we're a step slower, I'm confident that once Lingqiantong launches, it will surpass Yu'ebao's fund scale within half a year."

Lu Zhaoxi, seeing this, assured him with full confidence.

"But Zhifubao only has one million daily active users."

Ma Liyun let out a slight sigh, finally realizing a problem: Mama Ali's development in the mobile wireless sector had fallen too far behind.

Sister Chengzi Pay had less than 200 million cumulative registered users, yet its daily active users approached 18 million—more than ten times that of Zhifubao.

Simply put, registered users mean 'how many people know you,' while daily active users mean 'how many people need you every day.'

In 2012, Zhifubao survived by relying on Taobao, Tmall Mall, and 1688; it was merely an "auxiliary tool" for e-commerce and had not yet become a "necessity of life" for users, who only logged into Zhifubao's PC webpage or app when placing a shopping order.

But ever since Zhifubao launched Express Payment, the user login rate had dropped sharply, and the daily active data had become even lower.

The user experience and payment success rate of Taobao and Tmall Mall had improved, yet Zhifubao's situation was a complete mess.

"Zhifubao's offline payment collection business is in a period of rapid growth. The daily active data for the past week increased by 4.1% week-over-week. We just need to replicate this model nationwide to pull up the daily active numbers."

Lu Zhaoxi answered immediately.

"WeChat is also making a payment tool?" Ma Liyun nodded slightly, pondered for a moment, then suddenly asked again.

"Yes. It's said to be a new product rebuilt on the basis of Caifutong, which shows that competition among Penguin's business divisions is quite fierce."

Lu Zhaoxi hummed in acknowledgment, then added.

By all rights, Caifutong had been online for over seven years and had extremely rich experience in handling high-concurrency transactions, reconciliation and clearing, data encryption, risk control, and anti-fraud.

Yet WeChat insisted on independently developing its own payment tool, afraid that Caifutong would seize its mobile traffic.

"Alright, I understand." Ma Liyun rubbed his temples and said calmly.

After speaking, he rubbed his swollen temples. Compared with Ma Wenteng and Chen Yansen, he was forty-eight years old, and his energy was clearly not as abundant as theirs.

He had handed over most of Mama Ali's daily operations to Lu Zhaoxi, Zhang Yong, and others, and only took charge of steering the group's overall direction.

But with the arrival of the mobile internet era, Ma Liyun had no choice but to heighten his vigilance.

Compared with 2011, smartphone users in 2012 were growing more and more numerous; smartphones had long spread across every street and alley, and "phubber" head-downers could be seen everywhere.

Yet the wireless user share of Taobao, Tmall Mall, and Zhifubao was less than 10%.

At this moment, Ma Liyun sat in his office, looking through the glass window down at the entire Mama Ali headquarters. The sunshine outside was bright, yet a chill rose in his heart.

Mama Ali must catch up with the wave of mobile internet!

……

……

On the other side.

Yanjing, Qiandu Net headquarters.

Li Yanhong opened Didi Hitch's business report. In the column for week-over-week order growth rate, the figure "-6.1%" was extremely eye-catching.

Even with daily subsidies covering three orders, Didi Hitch's order volume could still drop by 6.1%?

How did Xiang Hailong manage that?

Li Yanhong snorted coldly, almost laughing from sheer anger.

"Kuaidi Hitch launched 'Ride to Receive Yu'ebao Experience Gold' and top-up card promotions, and Didi Hitch's fulfilled order numbers were affected by this…"

After seeing the reason Xiang Hailong had summarized, Li Yanhong's brow furrowed slightly, and he couldn't help cursing inwardly: Did Qiandu Netdisk not give away storage space? Did Qiandu Wenku not give away monthly membership cards?

Thinking of this, Li Yanhong immediately developed the idea of replacing Didi Hitch's CEO.

But who to replace him with?

Outsiders couldn't be trusted, and his own people weren't reliable!

He saw it clearly now: although Xiang Hailong's business negotiation and work-reporting abilities were outstanding, the man was clearly not a doer, and his strategic execution was weak.

Didi Hitch in his hands would probably find it very hard to achieve anything.

What was Cheng Wei busy with?

Somehow, the name Cheng Wei actually flashed through his mind.

Li Yanhong secretly mulled: if he invited Cheng Wei back to serve as COO and had Wang Jin manage the R&D department, combining Mama Ali's market expansion capability with Qiandu's technical accumulation, Didi might still have a slim chance of survival.

After more than ten days of fierce subsidy war, Didi Hitch had poured in 400 million yuan, yet its market share hadn't budged at all.

Only then did Li Yanhong suddenly realize that Xiang Hailong was by no means the best CEO candidate for Didi Hitch.

But asking him to call Cheng Wei—he couldn't bring himself to do it.

Although the two hadn't completely torn each other's faces, after all, it was he who had kicked Cheng Wei out of the CEO position at Didi Hitch. Now asking the man to come back as COO—wasn't that an insult?

After agonizing for quite a while, Li Yanhong still couldn't make up his mind. Finally, he sighed and called for Liang Zhixiang.

"Boss, you wanted to see me?"

Three minutes later, Liang Zhixiang knocked and walked in.

"Are you still in touch with Cheng Wei?" Unable to save face, Li Yanhong asked in a roundabout way.

"No more." Liang Zhixiang answered truthfully.

He was the VP of Qiandu Net—what was there to chat about with a founder who had been kicked out?

"Have you seen Didi Hitch's weekly business report?" Li Yanhong asked again.

Liang Zhixiang nodded, somewhat puzzled. He knew the Didi Hitch project wasn't going smoothly, but he was head of the investment department and didn't have the authority to interfere with other departments' operations.

"Xiang Hailong's performance has disappointed me greatly." Li Yanhong looked at Liang Zhixiang and said coldly.

The boss wants to swap someone out?

The candidate is actually Cheng Wei?

Liang Zhixiang was shaken to the core, feeling his scalp go numb. He had just driven the man away with one foot and now had to invite him back with the other — wasn't this treating the man like a monkey?

Besides, Xiang Hailong was a veteran employee of Qiandu Net, having followed Li Yanhong for seven or eight years. Surely they couldn't swap out the general at the front just because of a momentary setback?

Liang Zhixiang stayed silent, not fully understanding Li Yanhong's approach, but he knew clearly in his heart that since the big boss had spoken up voluntarily, it meant the other's mind was already made up.

His own remonstrance would be useless, and would more likely earn him the label of "not one of us" in the boss's eyes. Within just a few seconds, he figured it out, so he asked with a smile: "Boss, you want Cheng Wei to come back as CEO?"

"No! I want him to take the COO position at Didi Dache."

Li Yanhong waved his hand, denying it outright.

COO? Isn't that just the Operations Director!

Would Cheng Wei agree?

Liang Zhixiang's eyes immediately went dark, his heart full of difficulty, but since the boss had spoken, whether it worked or not, he had to give it his best shot.

"I'll contact Cheng Wei right away." Liang Zhixiang immediately declared his stance.

"Victor, you've worked hard." Li Yanhong stood up, patted Liang Zhixiang on the shoulder, calling out the other's English name as he warmly encouraged him.

He knew this matter wouldn't be easy, but Didi's daily massive losses left him utterly exhausted in body and mind.

Feeling the pinch over money was one thing; on the other hand, Didi Dache burning cash without any effect was what really made him unable to hold it together.

Having taken on the mission, Liang Zhixiang left the office and called Cheng Wei the first chance he got. Several dozen kilometers away at the Digital Valley Software Park, Cheng Wei was meeting with the R&D department, working to confirm the development plan for mid-to-late October.

Just then, the phone in his pocket rang.

"You guys carry on."

Cheng Wei pulled out his phone. When he saw clearly the name on the caller ID, he thought for a moment, but still decided to answer.

Although two months earlier he and Qiandu had parted on extremely unpleasant terms, after repeatedly mulling it over during this period, he had once again let the unhappiness in his heart go.

Qiandu was, after all, a leading giant among the BAT companies; there was no benefit to offending them. One more friend was always better than one more enemy.

Didi Bike adopted an AB share structure, so this time he wasn't afraid of equity dilution from financing causing him to lose control of the company.

Therefore, if Liang Zhixiang wanted to invest in Didi Bike, he would welcome it with open arms.

Cheng Wei took his phone, walked outside the meeting room, and pressed the answer key while standing on the balcony.

"President Cheng, got a moment? Come out for a coffee?"

Liang Zhixiang laughed brightly, looking every inch the old acquaintance.

"Sorry, President Liang, the company's business is busy — I really can't get away." Cheng Wei replied with a smile, politely declining.

Company?

Liang Zhixiang was stunned, and instinctively asked: "President Cheng has a new project?"

"Yes, similar to Didi Dache, the business is still in the public transportation field." Cheng Wei answered evasively.

"Ride-hailing?" Liang Zhixiang's heart went *thump*, and he couldn't help but ask in a fluster.

"Shared bikes!" Cheng Wei didn't hold anything back either, and simply came clean.

Didi Bike had already deployed over 600 vehicles in the Yanjing market, and the business processes and commercial model had already been validated. He was preparing to expand the bike count to 3,000 in late October.

When the time came, even if he didn't say anything, the market scale of Didi Bike would naturally draw Liang Zhixiang's attention.

Cheng Wei paused, then continued: "In Yanjing, and even in the tier-one and tier-two cities across the country, between buses and subways, between subways and residential compounds, between buses and residential compounds, there's the 'last-mile commuting problem' — walking is too tiring, taking a cab is too expensive. That is the value of Didi Bike's existence."

Didi Bike?

Liang Zhixiang's face darkened. The name alone sounded like it was riding on Didi Dache's coattails, easily making users mistake the app for a product in the same line as Didi Dache.

"President Cheng, the product name is Didi Bike?" Liang Zhixiang asked tentatively.

"The *di* with three dots of water — Didi Bike." Cheng Wei squinted his eyes and said with a smile.

He knew what Liang Zhixiang was thinking, but the trademark for "Didi Bike" was already registered. He did indeed want to ride on Didi Dache's coattails, but so what?

If Li Yanhong wasn't happy, let him sue!

Didi Bike?

There's no difference from Didi Bike either!

Liang Zhixiang held back his anger and said patiently: "How much money can shared bikes make? President Cheng, why not come back to Didi Dache and continue the career you didn't finish? President Li is willing to hand you the COO position."

Hearing this, Cheng Wei let out a cold laugh. Li Yanhong really did treat him like a dog — summoning him at will and dismissing him at will?

What is a COO? He didn't care for it!

He had figured it out now: Li Yanhong was fickle and extremely impatient. Xiang Hailong had been running Didi Dache for less than three months, and he already wanted to swap him out.

If he went running back eagerly, he might not last a few months before getting kicked out again.

He, Cheng Wei, was a person — not Li Yanhong's dog!

"Sorry, I'm not interested in the COO position at Didi Dache." Cheng Wei refused again, without the slightest hesitation.

Though the Didi Bike project was small, he was taking it steady and solid. Right at the start, he had secured 50 million in angel investment from Innovation Works. The market potential might not match the ride-hailing track, but he could call all the shots himself.

"Alright, then that's that."

Liang Zhixiang restrained his smile, his face slowly turning gloomy, and then hung up the phone.

Half an hour later, he walked straight into Li Yanhong's office carrying a project dossier on "Didi Bike."

"What did Cheng Wei say?" Li Yanhong asked impatiently.

"This is his new startup project."

Liang Zhixiang pulled over a chair, sat down across from Li Yanhong, then handed over the document in his hand.

Li Yanhong understood instantly. Since Cheng Wei had a new project, he naturally wouldn't accept the COO position at Didi Dache.

"Didi Bike?"

His peripheral vision suddenly caught the text on the cover of the document. Li Yanhong's pupils contracted slightly, and he immediately understood what Liang Zhixiang meant.

That bastard Cheng Wei — the product name of his new project was secretly riding on Didi Dache's coattails.

Although Cheng Wei was the founder of Didi Chuxing, Li Yanhong had long regarded it as something already in his grasp and planned to slowly eliminate him through financing tactics.

"Notify the Legal Department to send him a cease-and-desist letter first—do not allow him to use the name Didi."

Li Yanhong instructed Liang Zhixiang.

The Didi Chuxing trademark was registered by Cheng Wei; after Baidu took over, they immediately filed defensive trademarks for "Didi Private Car," "Didi Car Rental," "DiDi Private Car," "DiDi Car Rental," "DiDa Taxi," and a series of similar trademarks, fearing other companies would forcibly piggyback on their traffic.

In fact, every company does this, mainly because there are too many trademark trolls in China—for example, the joint venture between Tencent and Groupon, Gao Peng Group, should ideally have used groupon. com as its domain, but Tuanbao. com struck first, forcing Gao Peng Group to use Gao Peng. com.

For instance, Chengzi Technology has also registered a slew of defensive trademarks like "Red Orange," "Green Orange," and "Lemon."

But Li Yanhong never expected Cheng Wei to turn around and launch a bike-sharing service, creating "Didi Bike"—it was utterly impossible to guard against.

"Understood, boss," Liang Zhixiang replied.

That afternoon, Cheng Wei received a cease-and-desist letter from Baidu; he sneered and casually tossed it aside.

He dared to use that name—he wasn't afraid Li Yanhong would sue him!

Having learned from setbacks, Cheng Wei's business acumen grew increasingly mature, and his boldness increased significantly.

Meanwhile,

Chen Yansen received a call from Cheng Weixing.

"Boss, I have a senior classmate, the CEO of Geek Auto magazine; she recently launched a project and is seeking angel funding," Cheng Weixing said bluntly.

"Why not just send her Gao Peng's contact info?" Chen Yansen replied.

"She wants to meet you in person," Cheng Weixing said with a bold face.

There was no choice—back in school, this senior had been a prominent figure and had given him plenty of help; one must know how to repay kindness.

"Fine, I'll give Chief Cheng a favor—have her add me on WeChat," Chen Yansen agreed with a smile.

"Thank you, boss—this senior is very capable and majored in the same field as you," Cheng Weixing added.

Journalism?

Who in their right mind majors in journalism?

Chen Yansen instantly lost interest, hung up the phone, and didn't give the matter another thought.

(End of Chapter)