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With a price tag of 4.2 billion, is the "Yi" brand still worth so much money?
With a price tag of 4.2 billion, is the "Yi" brand still worth so much money?

Easy to announce that the controlling shareholder has changed recently, and a new controlling shareholder has entered, while LeTV is no longer an easy controlling shareholder, and the original management team continues to be responsible for the management and operation of Easy. The announcement did not disclose the identity of the new shareholders, and both Ping An Group and Shouqi Car have become partners in outside speculation.

But not long after, Tencent Technology broke the news that it was easy to acquire a private equity investment fund named "Taoyun Capital", and this transaction will get about 67% equity transferred by LeTV. Among them, the cash price of the transaction is about 500 million US dollars, and the loan previously provided by the fund to LeTV was also transferred to Yizhi in the form of debt-to-equity swap.

This is not the first time that Taoyun Capital has extended an olive branch to LeTV. As early as August of 20 14, when letv announced the plan for non-public offering of A shares, it planned to raise about 4.5 billion yuan from five specific targets, including Lan Ju Investment (Taoyun Capital Subsidiary), of which Lan Ju invested/kloc-0.5 billion yuan, but it was not approved by the CSRC.

In addition, Hao Yun Capital also participated in the equity financing of LeTV unlisted companies such as LeTV Sports, LeTV Auto, LeTV Mobile Phone and LeTV Film. However, under the circumstance that the aftershock of founder Zhou Hang's "crusade" against LeTV has not subsided, is it a necessity or a plan for LeTV to choose shareholder change? And can the entry of new controlling shareholders inject new vitality into the ill-fated Easy?

Is it "forced" or "planned" to announce the change of controlling shareholder?

Since Zhou Hang, the founder of Yizhi, broke the news in April this year that "LeTV misappropriated 654.38+03 billion yuan", the problem of Yizhi's funds has been pushed to the forefront. Although Le Video frequently denied that Easy Car was in arrears with suppliers' accounts and some drivers were blocked from withdrawing cash, it once again confirmed that the Easy Car Capital Chain was being tested.

On the other hand, the LeTV ecosystem behind it has been in a state of "lack of money" since last year. Even though Sun Hongbin, a native of Shanxi, Jia Yueting, took a share of 654.38+05 billion yuan, it failed to relieve the pressure. On the contrary, from that time on, LeTV's unlisted system began to shrink on a large scale, and most of its businesses were blindfolded a second ago, and they began to be split and sold in this second.

Not only did it lose the exclusive broadcasting rights of the AFC Champions League and the naming rights of Wukesong Sports Gymnasium, but the rumors of 50% layoffs in the mobile phone business were also rampant. In addition, Jia Yueting himself has resigned as CEO of the listed company system, sold the shares of American electric car company LucidMotors, and his commercial real estate project "Shimao Gongsan" is also looking for a buyer.

This series of actions is in line with Sun Hongbin's proposition, that is, "for LeTV's unlisted company system, what should be sold should be coordinated". In this context, it is very reasonable to see the change of easy shareholders. It's not that I don't treat what I bought as a "pro-son", but that LeTV has really reached the point where it has to be sold.

At the 20 16 annual general meeting of shareholders held by letv yesterday, Jia Yueting pointed out that the funding problem of letv was "far more serious than expected". Letv received 9.7 billion yuan, but the actual repayment amount exceeded1500 million. "After returning the arrears of financial institutions, we still have no follow-up financial support from financial institutions, and most of them are still waiting to see."

Jia Yueting said that after communicating with financial institutions, he learned that the funds obtained should be invested in business, rather than directly repaying the debts of financial institutions. As for the bleeding point of the capital problem, he thinks that the automobile factor is the primary factor of the capital problem, and the mobile phone business is the second factor. Therefore, the LeTV system will be further slimmed down, "and it will also handle a number of fixed assets and even equity assets."

The asking price is 4.2 billion! Is the "Yi" brand still worth so much money after the credit crisis?

However, as soon as the voice fell, Guan Wei easily announced the change of controlling shareholder. Although the specific partners have not yet been announced, Tencent Technology quickly broke the news of "Taoyun Capital". According to Sina Finance, LeTV first asked China Ping An for 4.2 billion yuan for this acquisition, but the two sides failed to negotiate, and finally Taoyun Capital took over.

According to reports, the prepaid amount of easy access to users is about 654.38+05 billion yuan, and it has already borrowed 654.38+04 billion yuan from Zhongtai Chuangzhan. In addition, LeTV * * has invested 65.438+03 billion yuan, 654.38+05+654.38+04+654.38+03 = 4.2 billion yuan. Investors said that the negotiation between China Ping An and LeTV failed because of the gap and the high asking price.

According to the announcement issued by E-Car, due to the intense progress of relevant legal procedures and agreement processes, the arrival time of funds was delayed by one day, so the full opening date of E-Car online cash withdrawal was also delayed by one day, from June 29th to June 30th 14. At that time, all easy-to-platform owners can complete the cash withdrawal through the owner APP.

After a series of turbulence, such as Zhou Hang's withdrawal, the collective resignation of the founding team, and the driver's difficulties, Yizhi finally made a breakthrough. According to the announcement, after the cash withdrawal problem is completely solved, Yizhi will make major strategic adjustments to the car operation, including strategic layout, operating system, pricing strategy, and driver and passenger incentive policies.

But after the fall of "Honesty", can Jackson Yee turn over? TalkingData data shows that the number of active users has dropped by more than half in the past year and is still declining. From 2065438 to March 2007, the active rate of Easy APP was only 0.05%, and the peak reached 1.78%, which was obviously different from the peak. In contrast, from 2065438 to March 2007, the activity rate of Didi was 2.25%.

After all kinds of problems, the harm to drivers and users is indelible. "Stay" or "Leave" represent two attitudes of Easy Driver, but whether you can continue to choose Easy ultimately depends on the quality of service and the number of users. After all, after experiencing the "no car to return", easy users have generally lost patience.

The founding team has no return plan. Will the entry of Taoyun Capital be good news?

Jia Yueting's "easy historical turning point" has finally arrived. It is reported that after this transaction, LeTV only retains a small part of its equity. According to the industrial and commercial information, Taoyun Capital, headquartered in Beijing, was established less than three years ago, and four natural person shareholders, including Wen Xiaodong and Lu Guanghui, contributed 200 million yuan. There are 38 foreign-invested enterprises, most of which are investment-oriented enterprises.