Starting with Penguin.
They also agreed it was the best path.
Otherwise.
Going directly in.
It might be jointly annihilated by others. Xiao Xiao, Alipay, WeChat, Penguin, Fetion, and other big and small companies looking for a comeback, if surrounded by these people, ERV might have to kneel.
They have a local advantage.
Strong sense of identity.
ERV, no matter how strong, is still an outsider.
As for why not Ali, well, Ali's major shareholder is Tang Qing, strictly speaking, they're competitors, not the same path, and Xiao Xiao and WeChat are under his absolute control.
Impossible to sell.
"What do you think of Tang Qing?"
"Smart."
"Only smart?"
"I think this adjective is enough, isn't it?"
"..."
Indeed.
They each had a stack of analytical reports on Tang Qing, focusing mostly on his vision, behavior, personality, and capability; overall, he is an extremely visionary, learning-oriented leader.
Visionary.
Good performance.
Knows how to share benefits equally.
...
