· The first online car acquisition case: zebra run and acquire Shenglong car

Zhou Ping, vice president of Wuhan Taxi Industry Association and legal representative of Shenglong Automobile Rental Co., said that the merger was implemented by equity swap and cash combination. From the end of October, the two sides first contacted and officially signed the contract in early December. The whole process was less than 40 days, including 11 days of due diligence on Shenglong.
In June of this year, the Zebra Run, which was founded only two years ago, won the sixth national network license license after the drone, Shenzhou and other network car platform giants. It is also the first network license license in Central China. Up to now, Zebra Express has set up branches in 154 cities across the country, and won the licenses for the operation of the network of 29 cities, ranking fourth in the national network of car companies. At the same time, it has also opened up overseas business in 18 countries and regions around the world, and has brushed the unique "zebra pattern" to the streets of the United States and Europe.
Talking about this acquisition, Li Jia, founder and CEO of Zebra Express, said that as an Internet startup company, the zebra, which is only 2 years old, has experienced rapid growth while also experiencing the relationship with Didi, Shenzhou and other network giants. market competition. The young zebras do not dominate in both scale and size, which makes the Zebra team have to think in the run: how to innovate both thinking, to find another way in the business model, to avoid confrontation and break through the market.
“We thought of the biggest mobile fleet in the city – taxis.” He said that although many of the current car platforms have been connected to taxis and realized online car service, they have not fundamentally changed the rental. The Car Industry is dying and the user experience. A series of difficult problems in the taxi industry, such as unclear property rights, unregulated contracts, unreasonable charges, and inadequate management services, still exist. As a “city window”, the operation of taxis is still unsatisfactory.
Li Jia said frankly that there was no precedent for the domestic M&A car to buy a taxi. The reason why the two sides can quickly "flash marriage" is that Zebra hopes to choose a taxi company with relatively simple ownership structure in the first acquisition, which is about two or three hundred vehicles, which is convenient for innovation and exploration. Shenglong is very suitable; The aspect also benefits from the "bold and advanced" Internet convergence thinking of the other party. The two sides hit it off.
Zhou Ping said that in the integration of the network economy and the real economy, Zebra taxis will change and standardize the property rights, labor relations, business management systems, interest distribution systems, and operational service levels of traditional taxi companies through Internet technologies. . For example, the driver's “money money” is gradually abolished. The contracting method is changed from fixed contracting to fixed-to-contracting. According to the proportion, the principle of risk sharing and benefit sharing is reflected, and drivers are encouraged to work harder and increase their income. "This kind of exploration will not only have a profound impact on Wuhan, but also on the traditional taxi industry across the country."
Statistics show that there are 57 taxi companies in Wuhan and 16,737 taxis. Among them, there are only 5 companies with a scale of more than 1,000, and Shenglong ranks 13th. Before the Spring Festival this year, Zebra Express will complete the merger of several taxi companies. It is estimated that the first batch of 1,000 taxis will be acquired. In the long-term, it will reach more than 5,000 vehicles in Wuhan, and gradually introduce new models and new energy vehicles.
Experts from the Wuhan Academy of Social Sciences pointed out that with the introduction of the “Guiding Opinions of the General Office of the State Council on Deepening Reform and Promoting the Healthy Development of the Taxi Industry” in 2016, reforms and explorations in the areas of cruise taxi management and management have been launched in various parts of China. The acquisition of Shenglong Rental Company will help promote the reform of the management system for the management of taxi taxis, improve the distribution system of benefits, rationalize the price formation mechanism, and enhance the transformation and upgrading of industry services.

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