In March 13th, ofo announced the completion of E2-1 round financing of $866 million, which was led by Alibaba and adopted a parallel financing method of equity and creditor's rights.
In March 4th, ofo has also obtained a total of 1 billion 770 million RMB of Alibaba financing through the way of the pledge of small yellow cars in two times. After the operation of the above capital, Ali was willing to enter the ofo board. The drop line will be effectively counterbalanced at the ofo board.
866 million dollars! Ofo henceforth on the Alibaba thigh
Since then ofo is completely reversed to the Alibaba (the picture comes from Baidu)
As far as the current situation is concerned, the drop, the Alibaba, and the ofo founder's team about the right to control are at the end of the day. After this, it is obvious that the most lost is the drop, the most proud of the ofo founder team and the Alibaba.
Drops and ofo against each other but not exit drops
Drops were invested in the C and D rounds of ofo respectively. The exact amount is unknown, but the industry information controls about 30% of ofo shares. There are two seats in the board of directors, and executives are sent to ofo management. According to the reports at that time, Fuqiang, the top vice president of DDI, joined ofo as executive director, reporting directly to Davy. The leader of Nanshan market entered the ofo market, and the chief financial officer Leslie Liu was in charge of ofo financial department.
When the drop management team entered ofo, it also became the beginning of the deterioration of the relationship between ofo and ofo. From the related reports of Tencent, it was learned that when the drop management team was stationed in ofo, their work style made the original ofo founder team feel threatened. Another source said, privately still set ofo and Mobell with drops. Since then, the market has the news that ofo is going to turn to the Alibaba camp.
In November 2017, ofo unilaterally issued a notice that the executives chose a long vacation for personal reasons - "being" left. Then ofo finally got the money from the Alibaba through the way of pledge and equity.
At present, Alibaba has been involved in ofo's E round and E2-1 round financing, counting the 1 billion 770 million yuan loan from the small yellow car earlier. It is estimated that Alibaba will become ofo's largest institutional shareholder. It may be told by many people that the drop may be opt out at this time, but it won't happen.
First, ofo is an important part of the extra short trip within 3 kilometers. At present, the travel business drops have included a taxi, car, train, bus, ride, generation of driving, driving, car rental, car enterprises etc.. If the drop opt out at this time, it will give the fat meat to the Alibaba. In addition, the strategy of creating a close loop of intelligent travel will also be aborted.
Second, it's easy to quit. It's too hard to make a ofo. The current sharing in ofo and Mobell cycling areas have been in oligopoly. IiMedia Research released data show that in 2017 Chinese bicycle brand commonly shared active users, active users share, ofo accounted for 53.9%, ranking the industry first; Mobell share of active users accounted for 34%, ranking second in the industry.
Sharing single car permeability (picture from cheetahData)
Although didi hands have resurrected blue car, but the car left the blue hole is too big, such as blue car supplier arrears, and user deposit problems, which are urgent. The most fundamental reason is that now first-tier cities have stopped sharing bicycle delivery, so you want to develop into small blue car drops a ofo is obviously impossible task.
Finally, the Alibaba has to drop the door, the next step will be to counterattack. At present, ofo as a major competitor Mobell a recent financing in June 2017, $600 million, led by Tencent etc.. Combined with the current car sharing strategy layout, layout overseas bike sharing, v-mobile the next round of financing will come soon.
When drops for defense strategy or investment will mobell. The struggle with Ali's control over ofo will rise from the rise to the competition between Tencent and Ali.
Congratulations to the Alibaba for another heavyweight entrance
Ali, through the form of mortgages and financing, was willing to control the ofo, a giant in the field of sharing the single car. Although Ali has two shared bicycle brands with harrow and Yongan, his two added volume is not the ofo's opponent.
The monthly data released by QuestMobile, the latest ofo monthly active users to 42 million 468 thousand and 400, ranked first, v-mobile latest monthly active users to 41 million 12 thousand and 700, ranking second in the industry. 哈罗单车月活用户为356.23万排名第三，但与ofo、摩拜差距甚远，其活跃用户规模远不及第二名摩拜的十分之一。
In addition to the advantages of volume, ofo will become an important part of the Alibaba life service ecosystem, which is very similar to the drop strategy, which is to make up the need for short distance travel within 3 kilometers. In the middle and long distance travel, the Alibaba also has a drop trip.
866 million dollars! Ofo henceforth on the Alibaba thigh
The Alibaba gets the entrance (the picture comes from Baidu)
More importantly, ofo provides a stable and powerful usage scenario for the payment of ant gold clothing and credit. According to the March 12th ofo ofo officials announced that since the implementation of free credit and gold anniversary, a year has been accumulated since the free charge of nearly 30 million people, saving more than 4 billion yuan deposit.
As of the end of 2017, the deposit and the number of users in each industry were only 40 billion and 41 million 500 thousand. That is to say, only one ofo, which accounts for the total number of users of 70% of sesame's credit and 10% of the total deposit.
Ofo is also sharing the single car business overseas, which provides a good way for the ants to go to sea. It is understood that ofo has been stationed in Paris, France as a node, has completed the global layout of the 20 countries and covers 250 cities around the world.
The last thing to say is that the Alibaba, with the help of ofo, opens up more areas such as sharing cars. When pilotless technology is mature, unmanned driving in the future will be the main way for people to travel. The v-mobile in Guangzhou has launched its own car sharing business.
Ofo and Mobell will merge? Davy: small probability
The day before the ofo founder and CEO Dai Wei in an interview with partners said, "I can only say that anything happens in the world it is not the probability, one hundred percent probability, the probability of no zero percent. The sharing of bicycles is essentially a business model of B2C, or just now. When you open a KFC, I have a chance to earn money, make profits and go public.
Ofo founder and CEO Davy (pictures from Sina)
"We see a lot of companies, such as ZTE, HUAWEI, many companies are developing very well in competition. Actually, I think the growth of competitive industry enterprises may be faster. I think the probability of sharing a single car industry is small, and the motivation of the merger is not so big, "Davy said.
Attached to the ofo financing process:
In October 2015, Pre-A, the only hunting capital and Oriental Investment group.
In January 2016, A round of venture capital investment led, Jinsha River, East Hiromichi with investment 25 million.
In August 2016, the A+ round, the real fund, angel investor Wang Gang and other A+ round financing.
In September 2016, the B round, completed the warp and weft collar, Jinsha River, hunting capital and invested tens of millions of dollars.
In October 2016, the C series includes C2 investment of tens of millions of dollars, C1 rounds, and C2 investment from the US hedge fund Coatue and Xiaomi.
In March 2017, the D round was funded by DST, including Atomico, CITIC Industrial Fund, Jingwei China, Coatue, Atomico, new Hualian Group and other institutions, with a total of 450 million yuan (about 3 billion yuan).
In July 2017, the E round, this round of financing by Alibaba, Hongyi investment and CITIC industry fund joint investment, drop trips and DST continued to follow. The total is over $700 million (about 4 billion 600 million yuan).
In March 2018, E2-1 round, this round of financing led by Alibaba, Hao Feng Group, TRW capital, capital management and the king ant gold dress common with investment, financing $866 million.