Zhang Yiding, co-founder ofo, said: "Our deposit issue is a legal dispute. The legal department will be affected in the first wave and will naturally run faster than anyone else.

But we can now send lawyer letters through the firm.”

"Forget it, even our legal affairs have gone away. The lawyer's letter is probably useless. It doesn't matter whether the headlines will be delayed for half a month or not. " Yang Pinjie shook his head and said.

There is no punitive compensation in China. For some malicious business activities, at most, it is fined some money and then restored to its original state. It is irrelevant to companies like Toutiao, and for the affected ofo shared bicycles, it may not last.

Yang Pinjie thought for a while and said, "Since that's the case, we will restore the APP first. Those who want to use shared bicycles must be able to use them normally. As for the refund page, we will block it first. It means that there are too many users and the server cannot work. We will deal with it like this for two or three days first. We will find a way to solve the subsequent problems."

"Okay." Chen Hua agreed very readily. It was just a technical problem to him. No matter how you say it to the outside world, it was also the business of the public relations department.

......

The Ofo platform’s refund page has not been logged in. At the same time, Toutiao and Tengxun, two traffic giants that almost control 80% of the mobile Internet, are reporting on this news in a series. In addition, many analysis is reasonable and well-founded, which almost makes public opinion one-sidedly believe that ofo used user deposits to burn money to compete for the market, and the explanations on ofo’s official website and official Weibo seem very pale and powerless.

However, the fire in the city wall affected the fish. Mobike, who thought that after ofo had problems, he would definitely get the best benefits from it, also experienced a large wave of refunds. Fortunately, Mobike did not use the deposit, but since it made money by deposit, it was naturally impossible to put it on the account to eat current interest. The large-scale funds had been transferred for investments with low risk and stable returns. When encountering large-scale refunds, Mobike was also in a hurry, but there was no problem with the foundation. With the help of the capital behind it, it quickly stabilized its pace.

In this fluctuation, the biggest beneficiary is naturally Xiaolan Bicycle, a subsidiary of Toutiao, because most people do not need a deposit to ride this bike. As long as there is a certain amount of funds in the corresponding Quxin Payment account, or Quxin has been used for a long time, you can directly use Quxin to scan the QQ code to rent the bicycle. After returning the bike, Quxin Payment account will automatically deduct the money.

At the same time, Xiaolan Bicycle's official account will also record everyone's riding records, and users can directly see all the information. The fruit forest project of Quxin can also obtain extra energy from cycling and eventually exchange for more fruits, which can also be regarded as a small benefit.

In the bustling hustle and bustle, a week passed quickly.

"I didn't expect that David actually refused Alibaba's acquisition. I really don't know what he thought about this. All his bicycles have been mortgaged to Alibaba. They are not working together yet?" Zhong Guangwei looked at the news report in his hand and said incredible.

It turned out that five days ago, Alibaba officially proposed a wholly-owned merger and acquisition plan ofo with a US$100 million, and promised to assume all ofo's liabilities.

As soon as this acquisition offer was released, it almost confirmed all the rumors about ofo before. You should know that when ofo's last round of financing was of $4 billion a few months ago, it was one of the most well-known unicorns in the domestic Internet field.

Alibaba actually issued an acquisition offer of only $100 million. It was obviously because ofo's big problems, which caused its value to drop sharply, which could cause a company's valuation to fall by 97.5% in a few months. The only possibility is that it is already on the verge of bankruptcy.

But to everyone's surprise, ofo actually rejected the offer. During this period, David's visit to Masayoshi Son slowly surfaced. Everyone realized that all of this was to obtain investment from SoftBank, but because ofo also made the most dangerous moves, which led to itself to the edge of the cliff. In the end, SoftBank gave up its investment and cut off ofo's way out of the cliff.

Zhou Yujie said: "David is actually very smart. He has taken the most special path and forced Alibaba to succeed. However, whether it can succeed depends on Ma Yunken's unwilling to bear the loss."

When evidence, including SoftBank Economic Report and other reports appeared in front of the mass media, people realized that ofo, which has its own halo, had already had many internal problems. All of ofo's shareholders hated David and himself. Why did David make such a dangerous decision, why did he still refuse Alibaba's acquisition, and why did he not do due diligence when he invested?

However, this series of questions was asked too late. On the third day ofo refused to acquire, Alibaba officially asked the court to obtain ownership of all of ofo's bicycles on the grounds that ofo was insolvent. Ofo was not willing to be outdone and immediately denied the proposal. They suggested auctioning all of ofo's bicycles.

So many bicycles? Except for Alibaba, which is interested in entering the shared bicycle business, no one else can ask for it. Even Toutiao and Mobike don’t know it because the colors and appearances are different, so they can’t use it at all unless the entire ofo business is still the same.

But ofo's application to the court is reasonable. When the mortgaged property is insufficient, the normal process is to auction. If the creditor fails to sell, the right to handle it. However, the auction also takes time, at least a few months, and during this period, bicycles cannot be used.

A few months will be enough for Toutiao and Mobike to take away ofo's shared bicycle market. By that time, it may be difficult for Alibaba to sell scrap iron to get the bicycles. This operation will be enough to cut off Alibaba's backroads and will also cause Alibaba to lose more than 500 million US dollars.

Lin Youde nodded and said, "It's okay for David to come up with this method, but I don't think Alibaba will help ofo. It's really because ofo's people are now lost. Even if Alibaba is saved, if it doesn't involve company mergers and acquisitions, ofo will probably be as difficult as ever to get back the trust of the former market and users."

Zhong Guangwei shook his head and smiled: "If Alibaba doesn't help, his hundreds of millions of dollars will be smashed into the water. If Alibaba helps, he may have to spend hundreds of millions of dollars in. He may not be able to obtain absolute controlling stake. This time, Ma Yun has a headache."
Chapter completed!