The Millennium Semiconductor Survival Guide.

Chapter 127 The day of listing
The investors looked at each other in blank dismay, they did not expect Zhou Xin to answer like this.

Everyone is waiting for Zhou Xin to explain the meaning of "waiting".

Zhou Xin continued: "I don't need to do anything, as Riot Games will naturally surpass traditional offline physical channels with technological breakthroughs.

Now the key factor that restricts Riot Games from further improving user experience is network bandwidth. It takes about three hours for users to download a game.

With this time, they can walk to a nearby brick-and-mortar store and buy a game disc.

However, as the network bandwidth is upgraded, the download speed will become faster and faster. It only takes 10 minutes for the user to download the game after purchasing the game through Riot Games, so the user will no longer choose to go to the offline store to buy it.

Even if there are activities in offline stores, can they hold activities that are attractive to players at any time, 365 days a year?

I'm afraid I can't.

And events are also an operating cost for brick-and-mortar stores.

The events we host through our online game store can be open to all of our users at the same time.The activities of offline game stores can only be targeted at players within the radiation range of specific physical stores.

When Will Amazon Overtake Traditional Stores?Wait until all kinds of infrastructure are complete enough, logistics, commodity transit warehouses, the penetration rate of electronic payment software, etc.

When will Riot Games surpass traditional game stores?We need to wait for the upgrade of network bandwidth.

At the same time, compared with traditional game stores, game developers can collect feedback from players at any time, and can release relevant DLC at any time.

The content of this kind of DLC is not enough to support a disc, like the Angry Birds Christmas special, there are only fifty levels.

If it is an offline sale, then we can only wait for the Christmas special to be released together with Angry Birds 2.However, 2 is released in summer, so the surprises brought to players by the Christmas special are meaningless.

The same is true for other game developers. They can release DLC at any time according to their own needs and in accordance with the corresponding festivals.

Horror games can regularly release Halloween specials during Halloween, and FIFA can release World Cup specials during the World Cup.

I don't deny the advantages of offline channels, but in my opinion, these advantages are limited and will be gradually consumed with the development of technology.

So for Riot Games, all we need to do is wait until their advantages are turned into disadvantages by technological progress. "

Zhou Xin continued: "The high operating costs of offline game stores will inevitably lead to great pressure on their performance.

This kind of performance pressure will become an absolute disadvantage when facing online game stores.

The cut I just mentioned is the main cause of dissatisfaction among game publishers.

The second-hand recycling prices offered by offline game stores to players are extremely low, while the selling prices of second-hand games are much higher than the recycling prices. Players have always been particularly dissatisfied with this.

Riot Games will adopt a series of operational methods to compete with offline stores for players.

We have a natural advantage in cost control. "

The investors here are thoughtful, and some investors who originally planned to only hold the fist game in the short term plan to hold a small part of the fist game stock for a long time.

In Zhou Xin's opinion, compared with Riot Games, the only advantage offline game stores have is the cartridges of console games, which cannot be eliminated through online channels in the short term.

But in the long run, game console manufacturers will also develop their own online channels one after another, and offline stores will either transform to online or be killed.

After the road show, there was thunderous applause at the scene, and everyone was full of confidence in Zhou Xin and Riot Games.

The success of the pre-IPO roadshow depends on generating interest in the offer and generating interest in investing in the company.

The purpose of the road show is to attract potential buyers of the company, and the fact that Riot Games is backed by Zhou Xin is enough to make people excited.

Not to mention this road show, Zhou Xin responded to all the key issues that investors care about.

The financial reports of Riot Games that investors obtained were so healthy that these investors, who were used to seeing the financial reports of Internet companies, couldn't believe it.

At present, the financial reports of most Internet companies can only be described in one word: bad.

They spend most of their time introducing the company's growth and the number of users. When it comes to revenue, profit, and growth rate, it's a loss anyway.

There is no harm without comparison. Why can the market value of Time Warner soar after the acquisition of Quora?

Because Quora has a stable cash flow, a stable profit model, and the best customers, all of which make Quora look so valuable.

The same goes for Riot Games.

So the day after the road show ended, the Wall Street Journal directly published this headline:
"Fist Games, the next outstanding Internet company brought by Newman"

"Yesterday Newman led the senior management team of Riot Games on the NASDAQ exchange, ending a three-day roadshow.

This is also the first IPO in the past five years to only hold roadshows in the New York area. A successful roadshow is often crucial to the success of an IPO project, but it seems that the fist game’s roadshow can make it extremely successful without it.

The name Newman alone is enough to make Wall Street investors pounce on him like a hyena.But judging from the roadshow held on the Nasdaq exchange yesterday, Newman and their executive team clearly prepared seriously for the roadshow before the IPO listing.

A detailed introduction was made around the company's current situation, future vision, development goals, corporate pricing and financial situation.

The content of Newman's speech during the road show and the answers to investors and media reporters can make the author very intuitively feel that he is indeed the most successful product manager in the world.

His understanding of Internet products alone is far superior to that of any founder of an Internet company in a roadshow project I have heard.The last time such a charismatic founder dates back to 1984, the Apple founder Jobs who single-handedly led the advent of the Macintosh computer.

The concept of user stickiness has given me a new understanding of how to judge the value of Internet companies.”

News about the listing of Riot Games was rampant, flooding major media and online forums for a while.

"Newman, congratulations, this will be another success, I believe you are getting tired of success."

On the eve of the launch of the fist game, Bill Gates rushed to New York to attend the launch ceremony of the fist game with Zhou Xin.

He's actually the second-largest shareholder in Riot Games, and this is by far the most flamboyant investment of his personal investing career.

Zhou Xin: "Microsoft is more successful than all the companies I have ever founded, and you are still chasing success.

Where am I now.

And Riot Games would not have gone so smoothly without Ni's help. "

In the upcoming listing ceremony, company representatives and NASDAQ representatives are required to ring the market opening bell together.

This also marks the official listing of the company's shares on Nasdaq.

Generally, companies will hold celebrations after listing. After Ali was listed on NASDAQ, it gave 6 million US dollars to six investment banks as bonuses.

On the day of listing, New York and Hangzhou celebrated at the same time.

The representative of Riot Games is naturally Zhou Xin. Before going to ring the bell, Zhou Xin chatted with Bill Gates in the lounge.

　One more chapter, maybe a bit late
　　
　
(End of this chapter)