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On the other side!
The overseas operations of Little Monster Bikes had been initially set up.
Xu Mo and Tang Lei personally flew there several times to inspect the business.
Undoubtedly, Xu Mo’s actions were quite shocking, and there were numerous reports about Little Monster Bikes in the news media.
At first, several investors advised Xu Mo to not take such big steps, to focus on the domestic market before expanding abroad.
There was no need to rush overseas; it was more important to concentrate on the domestic market.
However, they didn’t understand what Xu Mo wanted to do, so he didn’t listen to them.
Now that the initial setup was complete, Little Monster Bikes had transformed into a multinational corporation and had already started operations in four countries.
During this period, Xu Mo was extremely busy, focusing on domestic development while expanding the overseas market, working tirelessly.
As time passed, four or five competitors had already emerged in the domestic market, with one of them launching shared electric scooters in Xiahai City.
In fact, it was still too early to venture into shared electric scooters, as the price of batteries had not yet decreased, making it difficult to sustain the high cost of electric scooters.
The price of an electric scooter was at least 1,500 yuan, several times that of a bicycle. If one were lost, it would result in a significant loss for them.
Then there was the issue of deposits. Regular bicycles could charge a 299 yuan deposit, but how would shared electric scooters collect deposits? If they charged 1,000 yuan, probably not many people would be willing to pay it.
And if they didn’t charge 1,000 yuan, it would be impossible to maintain the cost of the electric scooters.
In summary, the reason Xu Mo didn’t pursue this was because, after careful consideration, he knew the market was not yet mature.
Otherwise, he wouldn’t have left this segment for others to do.
As for things like shared cars, shared power banks, and the like, the market space was too small, and he was equally disinterested in pursuing them.
Now, his Little Monster Bikes could be ready for sale.
His overseas layout had already been initially completed!
Xu Mo’s decision to sell Little Monster Bikes came as a shock to Tang Lei, Gu Huanxi, and the others.
When they heard Xu Mo’s words, the three of them were stunned.
They knew that the development momentum of shared bicycles was very good, and the overseas layout had just been completed, with business growing steadily. The concept of the internet shared economy was just beginning to sweep the globe, becoming popular worldwide.
However, Xu Mo’s decision to retire at the height of his success left them puzzled.
“Xu Mo, are you planning to sell all of our current business?”
“How is that possible?”
Gu Huanxi was shocked.
This career, which they had once been so proud of, had required a great deal of effort to reach this point. How could they give it up just like that?
Because of this career, they had gained fame, profit, and wealth, and they were completely unwilling to let it go.
“Indeed! We are planning to sell all of our business! The layout we’ve done is already quite good, we’ve promoted it in many places, and the web based sharing economy has already become popular worldwide! We’ve finished what needed to be done, and for the next step, there’s nothing left for us to do!” Xu Mo explained.
“How can there be nothing left to do? There are still many things that need to be done! Such as making a profit? Or investing? And also, continuing to promote in second and third-tier cities!” Tang Lei said urgently.
“That would be too strenuous and not very beneficial!” Xu Mo said: “Expanding to second and third-tier cities would create huge problems! Policies in first-tier cities are more open, and people’s quality is higher, so bicycles are less likely to be lost! But if we go down to second and third-tier cities, the probability of loss would greatly increase!”
“Moreover, in smaller cities, various interests are intertwined. Many of these interests are beyond our ability to resolve! Even if we tried to solve them, it would likely consume the entire company’s energy! Therefore, don’t think about developing on a large scale in second and third-tier cities; the difficulty is very high!”
“What about overseas?” Li Banzhuang asked.
“Overseas is not feasible either! We’ve already done what we needed to do! Our business has almost reached its peak! Selling at this time is the best choice; subsequently, our entire business might decline!” Xu Mo said.
As he spoke, he pulled out a document and handed it to them: “I’ve already investigated. There are already seven or eight companies doing shared bicycle business, many of them in Xiahai City, our old territory! There are also some in the capital; there are already four in the capital! They will constantly encroach on the areas where we place our bicycles, causing significant social issues!”
“In the future, the probability of city management confiscating bicycles will greatly increase. If not handled well, it could easily lead to a breakdown in the cash flow! Therefore, selling is the best option!”
Tang Lei, Gu Huanxi, and the others were stunned.
Although they had always listened to Xu Mo, they did not have the same level of boldness as he did.
A company valued at 10 billion, just reaching the peak of its success, saying to sell it off just like that—how could they bear to do it?
But listening to Xu Mo’s analysis, it seemed to make a lot of sense.
“Don’t look at the valuation; those are just numbers! Only the money in our hands is real money! As long as we have money, we can do more things instead of being tied down to shared bicycles!”
Xu Mo slowly advised: “I’ve already planned several industries we can venture into next! We can take our time and explore them!”
Tang Lei was left in shock, momentarily at a loss for words, feeling that Xu Mo’s decision was too sudden.
“Is there anyone interested in acquiring our company?” Li Banzhuang asked.
“There have been inquiries, but we haven’t discussed the price yet,” Xu Mo said. “This matter is confidential for now. We can’t tell anyone about it until the sale is completed, to avoid causing market panic.”
“Who wants to acquire us?” Li Banzhuang continued to inquire.
Xu Mo chuckled and said, “Yes! First, Meituan, second, Alibaba Group, third, Baidu Group, they all have some interest! Among them, Alibaba Group’s interest is quite significant. They have money and are acquiring companies left and right! We are one of the best unicorn companies in the country!”
“Alright! Since you put it that way, I agree with your decision! Money in hand is real money!” Li Banzhuang spoke up.
In truth, she didn’t feel very secure and didn’t want to take too many risks. Shared bicycles seemed risky to her and indeed prone to sudden failures.
“What about you two?” Xu Mo looked at Gu Huanxi and Tang Lei.
Tang Lei smiled, “Why are you asking me? You do whatever you want to do, no need to ask me! I agree a hundred percent!”
Xu Mo smiled, then turned to look at Gu Huanxi.
Gu Huanxi teased with a smile, “Alright! Every move you make is astonishing! From starting with shared bicycles, we felt there was risk and were hesitant to proceed. Expanding the business still carried significant risk, with the possibility of sudden failures at any time! Recently, venturing overseas was also risky, with many saying it was impossible! But we still managed to do it!”
“You pushed us to do it!”
Xu Mo laughed.
“So, I agree too! You and Banzhuang are right, money in hand is real money! Everything else is just an illusion!” Gu Huanxi said.
“Good!” Xu Mo was very satisfied.
…
On the other side, Xu Junzhe invested 10 million yuan to establish a company and began deploying shared electric scooters in Xiahai City and the capital.
As an adopted son of the Xu family, Xu Junzhe had lived with the Xu’s for over a decade and had a considerable amount of money at his disposal.
If necessary, he could even invest 30 million yuan to start a business.
This was the source of his confidence.
This time, he was not only starting a business on his own but also collaborating with the fourth sister, Xu Pandi, and the third sister, Xu Manni.
They each invested 3 million yuan to support Xu Junzhe in founding his company.
“Even though you’re entering the same field as Xu Mo, Junzhe, Third Sister supports you! You must defeat Xu Mo!”
“Electric scooters are better than bicycles! I also believe that electric scooters have a future! Junzhe, go for it!”
The sisters were naturally supportive of their brother’s entrepreneurial endeavors, not only providing financial support but also offering advice and strategies.
Xu Junzhe was no fool; on the contrary, he was a smart individual.
This venture was not simply an act of rivalry but a decision made after careful consideration.
He knew that shared electric scooters were a huge opportunity, and if done right, he could soar to great heights.
“My brother is the most amazing one! I’m just following in his footsteps! I hope to compete with him in the future!” Xu Junzhe said modestly in response to his sisters’ encouragement.
“Ha, Junzhe, don’t be modest! I think you’re even more excellent than Xu Mo!”
“Exactly!” Xu Manni laughed.
However, what surprised Xu Junzhe the most was that when she heard he was starting a business and opening a company, Xie Bingyan finally emerged from the dimly lit room.
With a pale face, she handed him a bankbook.
Xu Junzhe opened it and saw that it contained a full 50 million yuan.
“Manage it well!”
Xie Bingyan didn’t say much.
Xu Junzhe was overjoyed: “Thank you, Mom! I will definitely work hard to succeed!”
Xie Bingyan also wanted to see if Xu Junzhe could compete with Xu Mo, so she supported her adopted son wholeheartedly!