Amap Vice President Yu Wenle's expression was even graver:
"Affected by the global automotive industry's winter, starting from Q2 this year, Amap's pillar industry, in-car navigation revenue, has fallen to rock bottom!"
Everyone's faces were gloomy; the halving of the pillar industry's revenue dealt a fatal blow to Amap.
"Fortunately, we transitioned early and deployed mobile internet navigation services. Nowadays, mobile internet navigation services are growing rapidly, and their proportion of the company's total revenue has risen from 14.57% in Q1 to 27.38% in Q4, becoming Amap's second pillar industry!"
Yu Wenle said word by word:
"And the potential is astonishing. In other words, Amap Navigation's future main profit points entirely depend on mobile navigation. Once Chairman Wang makes mobile navigation free, Amap will be finished!"
Hearing this, everyone nodded:
"Yes, even if Sogou Maps isn't as good as Amap, it's free! In China, free is unbeatable."
"Moreover, Chairman Wang is rich and powerful. As long as he invests funds to buy the latest map data from NavInfo, for Sogou Maps to catch up, it's only a matter of time."
"With free Sogou Maps, who would be willing to continue spending 50 a month to use our Amap Navigation? Then we're finished!"
"Is Chairman Wang crazy? I understand him taking on Baidu, but is it necessary to incur a loss of eight hundred to inflict a loss of a thousand on the enemy? What's he after?"
Cheng Wu chuckled:
"Chairman Wang said that using a loss of several billion in exchange for Baidu's market value evaporating by tens of billions is a very good deal!"
"!!!"
"..."
"F***!"
Everyone in the room fell silent, completely unable to refute!
After a long while, Yu Wenle sighed:
"It's a very good deal for him to take on Baidu, but we Amap are innocent! We didn't provoke him!"
"Exactly. Once Sogou Maps becomes free, Baidu's market value will plummet, and our Amap's market value will also plummet! Baidu's market value will evaporate by tens of billions, and our Amap will also lose over a billion! That's too ruthless!"
Cheng Wu sighed:
"So Chairman Wang made a proposal: in order not to hurt us by mistake, he would first acquire Amap at its current market value, 3.3 billion RMB! Then he would launch free navigation to kill Baidu!"
"This..."
Everyone in the room fell silent, their expressions becoming very complex.
After a long while, someone said:
"Truly ruthless, too ruthless! But is it worth it?"
Cheng Wu smiled:
"What's not worth it? Acquiring Amap for over 3 billion and wiping out 30 billion of Baidu's market value, do you think it's worth it?"
"Amazing, Chairman Wang is a ruthless man!"
"To take on Baidu, he doesn't hesitate to spend over 3 billion to acquire Amap!"
"Ah, this is indeed consistent with Chairman Wang's style of doing things."
"Exactly, Chairman Wang always acts decisively; if he's not convinced, he acts; if he says acquire, he acquires!"
"However, do you think there's a trick involved? Could Chairman Wang be trying to acquire Amap at a low price and deliberately released fake news about free navigation to deliberately scare us?"
"It's possible, we must guard against this!"
But Yu Wenle shook his head:
"The possibility of fake news is low. After all, Wang Yi's style of doing things is exactly like that. Young people, if they're not convinced, they act!"
"That's right, Chairman Wang acquired Sogou for 1.65 billion to take on Baidu Search. Now, to take on Baidu Maps, acquiring Amap for 3.3 billion is also normal."
"I estimate he's most likely genuinely making it free."
"I think so too."
Cheng Wu nodded:
"The free navigation issue is almost certain. The key is, shareholders, what do you plan to do?"
"What else can we do? Chairman Wang is determined to make navigation free, Amap can't withstand it. Compared to having our market value halved, it's better to sell in advance."
"Yes, if we sell, everyone cashes out at a high price, at least we won't lose money!"
"Sell it! As long as the price is reasonable, I have no objection."
"The automotive industry is in winter, in-car navigation revenue has sharply declined. On the mobile end, Baidu is coveting us, and now Chairman Wang directly offers free navigation! Damn it, navigation is unplayable now. Just sell it."
"Exactly. With those two, the entire navigation industry is finished. If we don't cash out at a high price now, it will be even worse later."
"Sometimes, cutting losses in time is also a kind of wisdom."
"Yes, selling now, at least we don't lose money. If we don't sell now, once free navigation begins, then it's truly over."
"Alright, then let's vote."
Cheng Wu said:
"Those willing to sell to Chairman Wang, raise your hands!"
Also considering Amap's current situation, several founders had disagreements and were very conflicted about the future direction of development...
Although one founder had left, it was still hard to say who was right or wrong between the CEO and COO.
Coupled with the free navigation controversy and the automotive industry's winter, several major shareholders felt Amap's future was unpredictable, and it was better to cash out at a high price!
After all, the map industry was inherently a field that burned money without making a profit.
Immediately, they all raised their hands, supporting the sale.
Cheng Wu counted and continued:
"Those who oppose selling Amap, raise your hands."
This time, no one raised their hand.
"Eight in favor, two abstentions, zero against!"
Cheng Wu sighed:
"This resolution is passed. Amap will be sold to Chairman Wang. Next, let's discuss the price."
"Chairman Wang's intention is to acquire Amap at its current market value, without suppressing the price. But it's probably not good to raise the price too much, as once it becomes free, the market value will inevitably plummet."
Everyone nodded, understanding this reasoning.
Navigation was originally a money pit industry, burning hundreds of millions every year, but making a profit was too difficult!
Especially with in-car navigation revenue halved and the mobile end becoming free!
Adding insult to injury, it was truly fatal.
In its previous life, Amap suffered too many losses and couldn't bear it any longer, so it accepted Alibaba's investment in 2013 and directly sold itself to Alibaba in 2014.
This kind of industry that only burns money without making a profit, only BAT could afford to burn.
Without Alibaba, Amap would have gone bankrupt long ago.
Vice President Yu Wenle took a deep breath:
"Chairman, Amap's current market value is 500 million US dollars. Let's try to negotiate for 700 million US dollars. If we can't get that, then as a second option, 600 million US dollars!"
"Yes, 600 million US dollars is the bottom line, a 20% premium!"
"Too little, not worth it!"
Cheng Wu waved his hand:
"Given the current market, a 20% premium? What are you thinking? A 10% premium would be good enough!"
"Heh heh, that's true."
Everyone gave a bitter smile.
The situation was stronger than any individual!
Amap's IPO price was broken on its debut, to put it bluntly, capital was not optimistic about it.
If capital were optimistic, its market value wouldn't be only 500 million US dollars!
Chairman Cheng looked around at everyone:
"I'll try to negotiate for 600 million US dollars. If that doesn't work, I'll aim for 550 million US dollars!"
"Alright!"
Everyone nodded; with free navigation coming, being able to get a 10% premium, 550 million US dollars would be decent.
After all, once free navigation begins, let alone 550 million, even 450 million US dollars might be difficult to achieve.
Thinking this, Cheng Wu quickly dialed Wang Yi's phone:
"Chairman Wang, Amap just held a board meeting and passed the resolution to sell. However, we hope the price can be a bit higher."
Wang Yi smiled; sure enough, facing the black swan of free navigation, Amap couldn't withstand it now.
In its previous life, Amap had Alibaba's capital and local life services, only then did it dare to offer free navigation.
But the current Amap has nothing.
Once it goes free, it's dead!
Wang Yi smiled faintly:
"I wonder what price Chairman Cheng intends to offer?"
"600 million US dollars, what do you think?"
Cheng Wu directly quoted a reliable price.
"A 20% premium, that's a bit high."
Wang Yi sighed:
"How about this, Chairman Cheng. Amap's current market value is 500 million US dollars, so let's go with a 10% premium! If you agree, we can sign the contract immediately. If you don't, there's nothing I can do. In any case, I will definitely take on Baidu, and free navigation must be done!"
The implication was simple: acquiring Amap was just to avoid accidentally harming them and to compensate them.
It's not that I, Wang Yi, must acquire Amap!
I am the dominant party now!
Wang Yi's words spread throughout the entire conference room via the microphone.
Cheng Wu frowned slightly and looked around at the other major shareholders.
The few exchanged glances and nodded in agreement.
If they didn't sell for 550 million US dollars now, once free navigation started, it might be hard to get even 450 million next year!
Cheng Wu sighed:
"Alright, let's go with 550 million US dollars!"
"Alright!"
To prevent delays and complications, the subsequent acquisition process was advanced quickly by both parties.
The next day, the share transfer agreement was signed, and the shares of several major shareholders were all acquired first.
Subsequently, Wang Yi initiated a buyback program to delist Amap from the US stock market!
For no other reason, Wang Yi was worried that if it dragged on too long, Alibaba would come to its senses and intervene.
Amap was also worried that if it dragged on too long, Wang Yi would abandon the buyback and directly launch free navigation, devaluing Amap!
Under this delicate psychological state, both parties tacitly and actively pushed forward the Amap acquisition, and the progress was unusually smooth.
Regarding this, Wang Yi was in a great mood:
'So eager to sell, indeed, Amap was bluffed by free navigation.'
Cheng Wu was also full of spirit:
'So eager to acquire, it seems Chairman Wang can't wait to kill Baidu immediately!'
That night, this news once again topped the hot search list:
[Xingyi Technology Acquires Amap Maps for 550 Million US Dollars!]
As soon as this news broke, the entire internet was in an uproar:
"To take on Baidu Maps, Chairman Wang directly acquired Amap Maps, impressive, truly impressive!"
"Baidu has hit a wall. Its search business has encountered boycotts and even its map business is under attack!"
"Amap's market share is already 50% higher than Baidu Maps. Coupled with Sogou Maps, then Baidu is truly the weakest of the weak!"
"Chairman Wang is too domineering! From search engines to map navigation, he's relentlessly hammering Baidu!"
"Not only that, Baidu's iQiyi in the video sector has also been badly beaten by Xingyi Video!"
"Xingyi Video offers richer free resources and even gives out memberships for signing in. iQiyi can't compare at all!"
"By the way, now that Chairman Wang has acquired Amap, will he also introduce discounts?"
"Currently Amap Navigation is expensive, 50 a month, but its map resources are good, so it's worth it."
"I hope so, make it a bit cheaper, 600 a year, I can't afford it!"
"Baidu Maps was never a match for Amap, and now Amap has Chairman Wang's support, Baidu Maps is completely finished."
"Garbage Baidu, let's boycott them, I'm downloading Amap now!"
"Xingyi Technology acquired Amap specifically to target Baidu. Baidu's stock price is going to plummet again."
"Ah, don't even mention it. Other companies' stock prices fluctuate up and down, but Baidu's stock price fluctuates down and down."
"Hahaha, that's so damn accurate. Dropping 5% a day, after a few times, the market value has evaporated by 14%!"
"Serves them right. Who told Baidu to block and suppress Xingyi Video? How's that working out now? They kicked an iron plate."
"Blocking is satisfying for a moment, stock price is a crematorium!"
...
Baidu Headquarters.
Li Yan looked grim:
"He's crazy, Wang Yi is truly crazy!"
"To retaliate against Baidu, he acquired Sogou for 1.65 billion and Amap for 3.55 billion! He's truly crazy!"
"Did his money come from thin air?"
Baidu Vice President Qu Xin sighed:
"Wang Yi's money didn't come from thin air, but our Baidu's market value has been blown away by the wind!"
Li Yan fell silent: "..."
Baidu's market value was previously 280 billion, but later, due to Wang Yi's anti-monopoly lawsuit and copyright infringement lawsuits, it was driven down to 265 billion.
Then, the impact of the Sogou acquisition drove it down to 240 billion!
In half a month, a full 40 billion evaporated!
It wasn't 4 billion, no one could ignore that!
Now that it had finally stabilized at around 240 billion, Wang Yi acquired Amap again and started new operations!
Needless to say, this wave would cause Baidu's stock price to plummet again and its market value to crash.
As for how much it would crash, that was hard to say.
But it would certainly be a lot!
Li Yan closed his eyes and sighed deeply:
"I truly regret it, I shouldn't have provoked Wang Yi!"
"He's a lunatic! Wasn't it just blocking Xingyi Video? Did he need to go all out to kill Baidu?"
"He already made Baidu lose 40 billion, and he's still not stopping!"
"Truly a lunatic!"
"Shouldn't have provoked them!"
Li Yan was filled with remorse, and the vice president also smiled bitterly, inwardly cursing:
"If only we knew this today, why did we do that back then?"
In reality, Baidu frequently used its search engine to block and suppress competitors; it was a common occurrence, and no one dared to be so confrontational.
For instance, in its previous life, Baidu and Amap had continuous business wars, and Baidu once blocked and suppressed Amap.
For a period of time, when netizens used Baidu to search for Amap Maps, what was recommended was Baidu Maps!
And for another period, when users searched for Amap Maps on Baidu, the associated search term Baidu provided was 'Gao De Maps', and if users clicked without noticing, they would land on a counterfeit page...
And for yet another period, when users searched for Amap Maps on Baidu, Amap Maps indeed appeared, but it was the Amap Maps - Intel custom version.
As a result, after users downloaded and installed it, it crashed upon launch!
For no other reason, that version was released for Android phones with Intel X86 instruction set chips.
Ordinary Android phones all have ARM instruction set chips, so of course it would crash when run.
Users went through a series of operations, but it crashed after installation.
They thought Amap had problems, immediately cursed Amap, and then downloaded Baidu Maps...
This kind of operation, even Wang Yi was amazed by.
Later, Amap openly tore into Baidu, and Baidu, fearing being 'hammered by the village chief', only then did it somewhat restrain itself...
Now, regarding Xingyi Video, Baidu still employed its classic strategy of blocking and suppressing, but it didn't expect to hit an iron plate with Wang Yi!
The kind that burns your foot!
No, scorching hot!
Without any surprise, when the US stock market opened that night, Baidu's stock price began to crash again.
Only this time, the crash was even more severe.
In half an hour, 20 billion evaporated!
If the previously acquired Sogou Search had a small market share, its impact on Baidu Search was limited.
But now with the acquired Amap Maps, whose market share is 50% higher than Baidu Maps, the impact would be terrifying!
God knows what policies Amap would launch as Wang Yi tried to take on Baidu Maps.
But no matter what, the most rational thing to do was to flee first!
More importantly, Baidu's shareholders and investors were all scared!
Wang Yi's retaliation against Baidu was wave after wave, with no intention of stopping!
This was now considered the third wave, would there be a fourth wave later? A fifth wave?
If so, then Baidu's future would be even bleaker, or even disastrous!
For a time, investors were scared, and institutions were scared too!
They all started selling.
Even several of Baidu's major foreign shareholders held emergency meetings to discuss whether to announce a reduction in their holdings!
There was no other way, they really couldn't bear it.
Looking at the continuously falling market value, Li Yan became so anxious that he suffered from insomnia again.
Until the US stock market closed the next day, Baidu's market value dropped to 200 billion!
Overnight, Baidu's market value evaporated by another 40 billion!
"Wang Yi, you deserve to die!"
"Amap, bought for 3.55 billion, made Baidu's market value plummet by another 40 billion!"
"Excellent!"
"Plus the previous 40 billion, a grand total of 80 billion!"
"You are truly ruthless!"
Li Yan was consumed by rage, his eyes almost splitting open.
Suppressing the anger in his heart, he convened another high-level meeting.
Several shareholder representatives were also present.
But regarding this, Li Yan was already too lazy to bother.
The first time the stock price plummeted, he still cared about the other party's attitude.
But now that it had fallen so much, Li Yan instead felt a sense of numbness, as if he had too many lice to feel the itch.
"Chairman Li, regarding..."
A major shareholder was about to open his mouth to question, but was directly interrupted by Li Yan:
"Mr. William, if it's nonsense like warnings, then don't bother saying it. Baidu is currently in a dangerous period and doesn't have time to deal with your rubbish!"
William's face turned dark: "!!!"
He gestured with his fingers for a while, but finally spread his hands, choosing to remain silent.
Li Yan looked around at everyone and said solemnly:
"Everyone here is either a Baidu shareholder or a Baidu executive, deeply tied and closely related to Baidu. To put it bluntly, if Baidu prospers, everyone can make money. If Baidu crashes, everyone's net worth will shrink!"
Hearing this, everyone nodded, as it was natural.
"And Baidu's current situation, everyone knows, it dropped by another 40 billion last night!"
"Therefore, our top priority should be to discuss how to reverse the situation, how to prevent the stock price from plummeting again tonight and make tomorrow's stock price rise back! Not to waste time on threats, intimidation, or questioning anymore."
"These actions will only make Baidu even worse and devalue your net worth further; they are meaningless!"
Hearing this, several major shareholders all nodded in strong agreement.
Even William gave up on questioning.
The current Baidu was weathering a storm, and still had to rely on Li Yan!
Li Yan breathed a sigh of relief:
"Alright, everyone discuss how we should respond!"
"Retaliate!"
"We must retaliate!" A major shareholder was furious:
"Wang Yi made several moves, causing us to lose so much market value. We must retaliate against him! Retaliate against them severely!"
But Vice President Qu Xin shook his head:
"It's not very meaningful, they're not listed!"
Listed companies can raise more capital, but also have to face the backlash of plummeting stock prices at any time.
Every time Wang Yi made a move, it was a precise strike, capable of severely damaging Baidu's market value.
15 billion - 25 billion - 40 billion, three times causing Baidu to lose 80 billion.
But Baidu couldn't do anything to Wang Yi; apart from blocking and suppressing, there were almost no other methods.
After all, Xingyi Technology was not listed, so even if Baidu made a move and critically hit Xingyi Technology again, it would be meaningless.
Unlisted companies simply aren't afraid of these things.
"F***! This is truly frustrating. Do we just have to take the beating passively right now? No matter what, we have to fight back!"
The second largest shareholder was furious.
Another executive, however, shook his head:
"Once we make another move, leaving aside whether it will be effective or not, it will definitely provoke a stronger counterattack from Wang Yi, critically hitting Baidu again. By then, Baidu's market value would evaporate by tens of billions again... We simply cannot afford such a price."
For a moment, everyone fell silent.
Qu Xin's face was even darker:
"Exactly, the current situation is so awkward. If we go after Xingyi Technology, Xingyi Technology is not greatly affected, at most they'll just adapt and counter. But when Xingyi Technology goes after Baidu, each time it can wipe out tens of billions, or even hundreds of billions! It's damn frustrating!"
"So that means, we can only negotiate for peace?"
"Negotiating for peace is actually also an option. With the stock price falling like this, we really can't bear it anymore."
"We can negotiate for peace first, to get through the current crisis. Then later, we can find an opportunity to slowly get back at them!"
"Exactly, this is a good idea. Being able to yield and then assert oneself is fine."
"Bowing down to seek peace is no big deal. Compared to tens of billions in real money, pride is worthless."
Hearing this, Li Yan waved his hand:
"Stop dreaming. Wang Yi spent 3.55 billion to acquire Amap precisely to take on Baidu. Do you think he'll agree to negotiate for peace? Wouldn't that 3.55 billion be wasted?"
Everyone was speechless for a moment, it was indeed this logic.
An executive, however, said softly:
"Unless we buy back Amap from Wang Yi at a premium, for example, offer 4.05 billion, essentially giving Wang Yi an extra 500 million!"
Li Yan fell silent: "..."
You're really a damn genius to come up with such an idea!
Qu Xin's eyes lit up:
"Great idea! Wang Yi acquired Amap for 3.55 billion, Baidu buys it back for 4.05 billion, giving Wang Yi an extra 500 million as a token of sincerity. Then cancel the ban on Xingyi Video, and both sides shake hands and make peace. This way, Baidu's stock price won't plummet again tonight, and might even recover quite a bit!"
"And it looks good for our reputation. If we directly offer money for peace, it would be too demeaning, and Baidu cannot afford to lose face like that. But by repurchasing Amap, there's no problem."
"More importantly, once Baidu and Amap merge, Baidu Maps will be completely unbeatable in the future, directly challenging Careland, and its future will be bright!"
"!!!"
Li Yan was horrified and amazed, and it was false to say he wasn't tempted:
"This is a good idea. If Amap can be bought for 4.05 billion, reaching a settlement would also be good. It would also help Baidu's development; Baidu is precisely lacking Amap's map resources! But I'm just afraid Wang Yi won't agree, or that he'll demand an exorbitant price!"
"Chairman, we have to at least try!"
Qu Xin insisted:
"If we continue to fight with Xingyi Technology, their losses are limited as they're not listed. Baidu, as a listed company, truly can't bear it anymore; we've already lost 80 billion!"
"This..."
Li Yan sighed deeply:
"Alright, President Qu, since you insist on this, then you go and talk about this!"
"Alright!"
Qu Xin nodded and said again:
"So, what's the upper limit for acquiring Amap? If 4 billion isn't enough!"
Li Yan thought for a moment:
"Wang Yi bought it for 3.55 billion. We can repurchase it for 4.5 billion, no, at most 5 billion!"
"That high? Wouldn't 4.5 billion be enough?"
The others were startled.
A price of 5 billion would be equivalent to giving Wang Yi 1.5 billion for free!
Li Yan was very helpless:
"If we don't negotiate for peace, Baidu's market value will plummet again tonight. By then, it won't just be a matter of 5 billion!"
"True!"
"Yes, the Chairman is more thoughtful."
The few nodded, suddenly realizing.
"Alright, Chairman, I'll head to Xingyi Technology right away!"
With that, Qu Xin turned and left, heading straight for Xingyi Technology.
Li Yan, however, snorted coldly:
"A true man knows when to yield and when to assert himself. For now, we'll first compensate 1.5 billion to settle and restore the stock price. There will be plenty of opportunities later to exact revenge and wipe away the shame!"
"Yes, Chairman, this is the right approach!"
"Businessmen? Reputation is worthless. Only profit matters."
Alibaba Headquarters.
Jack Ma was in high spirits:
"Chairman Wang acquired Amap for 3.55 billion, and Baidu's market value evaporated by another 40 billion! How interesting! Hahaha!"
The Vice President was also somewhat gloating:
"Baidu was originally focusing on e-commerce, attacking Alibaba's core industry. Now, all's well. Baidu's backyard is on fire, its core navigation business has been blown up by Chairman Wang. As for e-commerce, it's even less of a concern."
Jack Ma nodded:
"Exactly, it wasn't in vain that I supported Chairman Wang. He's so powerful. All in all, he took Baidu from 280 billion down to 200 billion. How exciting!"
However, just as the big bosses were filled with pleasant surprise, Alibaba Cloud President Wang Jian's expression turned grim:
"This is bad! Amap has been taken by Chairman Wang. Xingyi Technology is going to expand into e-commerce. Alibaba is in big trouble!"
Jack Ma frowned slightly:
"President Wang, is Chairman Wang also going into e-commerce? Comprehensive e-commerce?"
Wang Jian sighed:
"Chairman Ma, what Chairman Wang wants to do might not be comprehensive e-commerce like Taobao, but rather e-commerce relying on Amap Maps for group buying, ride-hailing, etc., similar to Nuomi.com, Meituan, and eHi Car Services!"
Meituan was only established in March 2010 and was still very small at the time; its scale was not as large as Nuomi.com.
Didi and Kuaidi Dache would only appear next year, whereas eHi Car Services was founded in the imperial capital in 2010.
"Group buying? Ride-hailing?"
Jack Ma was a bit confused:
"Are these very promising? I don't think Amap Maps is that important!"
In its previous life, in 2014, Wang Jian suggested that Jack Ma acquire Amap Maps, but Jack Ma was completely unwilling, thinking that maps were useless, only burning money and not making a profit.
Later, after repeated persuasion from Wang Jian, he finally spent a huge amount to acquire Amap.
Now, Wang Jian was also the first to understand Wang Yi's strategy!
This kind of top cloud computing talent possessed extraordinary ability and vision, able to see things that Jack Ma couldn't!
Wang Jian was very helpless:
"Maps might seem useless, but they have a foundational strategic significance. The simplest example is group-buying platforms like Meituan, Nuomi.com, Lashou.com, etc.; no matter how well they develop, if they don't have Amap Maps, they simply can't function! How can you do group buying without maps? Similarly, it's the same for ride-hailing services. How can you do ride-hailing without navigation?"
Jack Ma suddenly understood, but still didn't take it seriously:
"Are you saying that map data is a strategic foundation? But Amap isn't the only map provider; there's also NavInfo. Even if Alibaba and Xingyi Technology fall out in the future, we can still choose NavInfo."
Wang Jian smiled:
"What if Baidu or Tencent invests in or even acquires NavInfo?"
"This..."
Jack Ma's expression completely darkened:
"If we fall out with Xingyi Technology and get blocked by Amap. And if NavInfo is invested in or even acquired by Baidu or Tencent, with no maps available, then all our Alibaba-affiliated products will be finished. Even Meituan, which we invested in, will be finished!"
In fact, Meituan was initially invested in by Alibaba.
Later, Meituan and Alibaba fell out, Meituan brought in Tencent, and they became complete enemies.
Jack Ma, in a fit of anger, acquired Ele.me!
Jack Ma's expression became serious:
"President Wang, I understand. Maps are a strategic foundational service. If Alibaba wants to grow big, it cannot do without maps!"
(End of Chapter)