Winning the new financial era

Chapter 359
"Then according to what you mean, we should give up live streaming and choose to use advertising to monetize?"

Lu Qi shook his head, "Both ends have to be caught! Especially because of the existence of Pinduoduo, I think we must have a place in the field of live e-commerce."

"But you just said that DouTV is not suitable for live broadcast monetization."

Lu Qi said very seriously: "That's right, DouTV is indeed not suitable for live broadcast monetization, this is determined by the product framework.

In addition, the users of Pinduoduo are actually more compatible with Kuaishou, and most of them are users in third- and fourth-tier cities and rural areas.

The users of Douvision are mainly in first- and second-tier cities and people with high education and high income, and their purchasing power is relatively strong.

If you use Doushi as a live e-commerce business to help pinduoduo drain traffic, the effect may not be satisfactory.

Users may feel that the quality of the items on Pinduoduo is poor, which affects the reputation of Doushi.

Therefore, we need to make another short video product, targeting people outside the Fifth Ring Road. "

Zhang Yida understood what Lu Qi meant, and asked, "You mean to make a product for a differentiated market, to compete with Kuaishou, and to help pinduoduo divert traffic?"

"Yes, that's what it means!"

Zhang Yida looked a little grim, "Kuaishou has accumulated some fans, I'm afraid it's not easy to compete with them."

"I know that," Lu Qi said lightly, "but if you don't fight now, when Kuaishou grows up, it will be more difficult to fight in the future."

Zhang Yida is also thinking that in the field of short videos, he will definitely compete with Kuaishou in the future.

Do you want to burn the flames of war to the back garden of Kuaishou now?

Lu Qi continued: "Currently, Douvision's biggest enemy seems to be Kuaishou, because the number of users is closer to each other.

In fact, on the contrary, we are almost the same as Kuaishou now, with different user groups and different monetization methods. "

Lu Qi stared straight out of the window, and said: "What we really need to pay attention to is the headlines, they are currently the enemies on the same track as us.

Although they are far behind us, they have never given up. Didn’t they just complete a new round of financing recently?

I guess they will definitely make big moves in the near future. "

Zhang Yida nodded, and he got to the point. Compared with Kuaishou, he was more afraid of Toutiao.

Zhang Ming is too low-key, low-key as if it is harmless to humans and animals, but he often surprises the industry by taking cold shots.

"Toutiao needs attention, but Kuaishou, we can't ignore it."

Lu Qi analyzed, "Kuaishou currently operates in third- and fourth-tier cities, while we operate in first- and second-tier cities.

After the incremental market is fully digested, if we want to go further, we will eventually start a battle with Kuaishou.

Now that we take the initiative to launch an offensive, we are only advancing this battle. "

Zhang Yida said: "Lao Lu, you are right, but if we want to enter the third- and fourth-tier cities and rural markets, we must have a starting point?"

"Yes, Pinduoduo is the best way to get started!" Lu Qi raised his mouth slightly, "WeChat has been providing traffic portals for Pinduoduo, and they are all price-sensitive users, most of whom come from third- and fourth-tier cities.

As long as this group of users can be diverted to the new short video platform through Pinduoduo, then half of our success will be considered. "

Zhang Yida shook his head, "I'm afraid it's difficult, users are not so obedient, and many people buy things through the WeChat official account and Zodiac grid.

Pinduoduo’s independent app traffic is less than half of that of WeChat. "

"It depends on the operation method!" Lu Qi smiled, "Didn't Pinduoduo also deliver pots and pans last year? Wouldn't it be good to do it again?"

"Fine!"

The most important thing Zhonghe Group lacks now is cash. When Pinduoduo and Doushi merged, an extra US$10 billion in cash was immediately added to the account.

This is because Pinduoduo has been burning a lot of money in recent months, and Douvision is also burning money to buy traffic and content, and also acquired Bilibili.

Combined a few months ago, the two companies would have $16 billion in cash combined.

"Now let's talk about the other half of the conditions that determine success."

Zhang Yida also concentrated his attention, ready to hear what Lu Qi had to offer.

"Live broadcast e-commerce, let the top accounts of the short video platform start live broadcasting to bring goods, and fight duoduo to supply.

In this regard, Yida, isn’t your Daya Media doing a pretty good job?I heard that selling dog food on Douyu attracted 10 people to watch? "

Zhang Yida said: "I have some experience in this area, the key is to increase the user base of our short video platform."

"You don't have to worry about user growth. There are a lot of internal masters in Doushi and Pinduoduo."

Lu Qi had a confident smile on his face, "As long as we let the top anchors make money, other users will naturally follow suit.

As long as the ecology of short video + pinduoduo is established, it will have many advantages that other peers do not have.

Taobao is more expensive than ours, and Kuaishou lacks an e-commerce platform.

Even if Kuaishou and Taobao join hands, in the final analysis, they are two companies.

But we are a company that can achieve unity of command and action, better communication efficiency than them, and lower cost than them. "

Zhang Yida is a little tempted. Kuaishou's live broadcast income of tens of billions a year is very eye-catching!

"Taking a step back, we can't beat Kuaishou in the sinking market, but as long as we gain a firm foothold, we will squeeze Kuaishou's certain market, consume their future potential, and prevent them from becoming a strong enemy of Douyin in the future.

There is also Pinduoduo. If the strategy of short video plus live e-commerce is successful, it will establish a new business growth engine.

At present, we have 10 billion U.S. dollars in heavy capital. If we don’t convert it into our own strength and product barriers as soon as possible, it will be too bad. "

Lu Qi paused, and concluded: "At present, I have roughly summarized the businesses of the two companies.

The first is to launch the commercialization of Doushi’s advertising, the second is to launch a new short video platform and join Pinduoduo to launch live e-commerce, the third is to incubate the live broadcast platform with Musical.ly, and the fourth is to establish an AI laboratory with Sharp. "

"Musical.ly incubating live streaming platform?"

Lu Qi nodded, "That's right, according to my friends in Silicon Valley, the live function of Ins will be officially opened to all users in the United States in December.

Rewards for props in the live broadcast can also be considered a good income.I think that with so many users, Musical.ly should explore the path of commercialization in time.

In your plan, Musical.ly will become a super APP covering more than 20 billion users in hundreds of countries around the world.

In order to achieve this goal, countless manpower and material resources are required in the middle.

In order to obtain huge financing, in addition to high-speed growth, it must also prove its commercial capabilities.

The financing of billions or tens of billions of dollars is not like some domestic entrepreneurs who can fool around with just a PPT. "

"Okay, no problem, I agree!"

Zhang Yida asked again: "How to divide the shares between AI Lab, Ruixiang and Zhonghe? And how do patents belong?"

"The equity is divided equally, each holds 50%, and all the data of the two groups are injected at the same time. The patents belong to the new company, but both Ruixiang and Zhonghe can use all the patents developed by the laboratory.

If external companies want to use the patent, they need to pay for the license. "

Zhang Yida originally wanted Ruixiang to occupy 51% of the shares, but considering that his own shares in Ruixiang are only 38.18%.

The shareholding in Zhonghe Group is as high as 71.05%, and it also indirectly holds 0.29% through Ruixiang Industry Fund.

The Zhonghe Group holds more shares and maximizes its own interests.

At present, Ruixiang is valued at more than 300 billion U.S. dollars and has more than 5 million users, while Zhonghe Group is only valued at 190 billion U.S. dollars and has less than 3 million domestic users.

Of course, Ruixiang Group crushed Zhonghe Group in all aspects, so it is understandable to ask for a little more shareholding.

In the long run, it is very possible that Zhonghe Group will compete with Ruixiang Group, or even surpass the latter.

"Okay, I will negotiate with Ruixiang over there."

Zhang Yida asked again: "With so many big moves, can Zhonghe Group's funds still support it?"

"It won't last long!" Lu Qi shook his head, "But if the commercialization of Doushi goes well, it should be able to ease the financial pressure.

Douvision still has a promise of [-] billion revenue in the next year, which is related to valuation. The Douvision executives headed by Zhang Lan are all holding a breath in their hearts, saying that they will die to achieve this goal.

If there are tens of billions in the account in the next year, the financing can be slightly delayed. "

"Okay, take it easy!"

Zhang Yida also didn't want Zhonghe Group to start financing now.First of all, the current valuation of US$190 billion is a bit inflated, and it is estimated that it is difficult to raise funds at this pre-investment valuation.

The second is that there is still US$10 billion in cash in the account. The cost is almost the same, and the valuation has increased, so the financing is at the right time.

……

Toutiao D round financing reception.

Zhang Ming took off his T-shirt very rarely, and put on a decent suit.

As a programmer, he still prefers T-shirts, and he always feels uncomfortable in a suit.

"Congratulations, Lao Zhang! Toutiao has completed 20 billion US dollars in financing, stepping into the ranks of super unicorns with [-] billion US dollars in one fell swoop!"

The chubby Chen Wei was dressed in a black suit and came from a distance with a glass of red wine to congratulate Zhang Ming.

Zhang Ming smiled modestly, "No way! Our Toutiao is lagging behind. After so many years of tossing around, the valuation is only 110 billion US dollars.

It’s you, Old Chen. After merging with Uber, you Didi’s valuation exceeded 350 billion U.S. dollars, and you are firmly seated at the fourth place in China’s Internet. "

These words scratched Chen Wei's itching. Since the acquisition of Uber China in August, he has ushered in a new highlight moment in his life. Wherever he goes, he is accompanied by flowers and applause.

However, Zhang Ming, as the head of a super unicorn, made Chen Wei quite proud of his praise.

"Hey, it's still far away!"

Chen Wei shook his head and became self-effacing, "Leech Financial Services only completed a US$4 billion Series B round of financing in April, with a valuation of more than US$45 billion;
There is also Rice Group, which was valued at US$450 billion two years ago;

NetEase is not bad, and its market value has been fluctuating at more than 300 billion US dollars.

I am not like some people who have the cheek to say that I am the fourth largest Internet group in China! "

Zhang Ming laughed, and then he remembered that Chen Wei and himself were on the same front, and they both had an enemy named "Zhang Yida".

"What are you talking about? So happy!" Huang Xin also came over with a wine glass.

"Are we talking about who will get the title of the fourth largest Internet company?"

Chen Wei looked at Huang Xin again, and said, "I think Meituan still has a good chance of competing for this title."

"Let's forget about it! The competition is between Didi and Leech Financial Services, Rice, NetEase, Ruixiang, and Zhonghe."

Chen Wei was a little annoyed, "I think the first three are okay, let's forget about the last two! The bubble is just too big.

Zhonghe Group claims a valuation of US$190 billion. How long has it been established?Once a company that was established less than two years ago merged, its valuation skyrocketed. "

Turning to look at Huang Xin, "If I remember correctly, Magnesium Group raised 1 billion US dollars in January this year, and the valuation is only 33 billion US dollars, right?"

"Yes, our development is relatively rough, so we still need to work hard!"

Chen Wei added: "Mei Group is only valued at 180 billion, why should Zhonghe Group be valued at 190 billion?"

Sneering a few times, Chen Wei looked at Zhang Ming, "Old Zhang, do it well, I am most optimistic about Toutiao in the field of short videos.

Compared with some people, this quality of humility and politeness in you is too rare! "

Zhang Ming smiled awkwardly, brother, did you eat gunpowder today?

Shen Beipeng walked over with a red wine glass, and beside him were a group of Toutiao shareholders: Source Code Capital, SIG Heiner Asia, DST, 360, Sina, Shunwei Capital, CCB International, and Huayi Capital.

Lei Dongming also represented Huayi Capital today, and others looked at him somewhat strangely.

Everyone knows that Huayi Capital is also a member of Zhang Yida's industrial group, and it's really fucking weird to invest in the competitor Toutiao.

Could it be that he bet on both sides, betting on the track?
Lei Dongming asked Zhang Yida whether to take advantage of Toutiao's D round of financing to sell off the Toutiao shares held by Huayi Capital.

Zhang Yida said: Look at the attitude of the headlines.It's really fate, so don't force it.

Then, Huayi Capital was out.

The relationship between Huayi Capital and Zhang Yida is so close, even if Zhang Ming can bear it, the other shareholders of Toutiao can't bear it either.

In case Huayi Capital spied on the company's secrets, and then turned around and told Zhang Yida, how could the headlines fight Zhonghe Group?

As a result, Lei Dongming was out of the game with 10 billion US dollars "tears".

Two and a half years ago, Huayi Capital invested US$1 million in Toutiao, accounting for 10% of the shares.

Now it is out at a pre-investment valuation of US$100 billion. In two and a half years, the investment has doubled by 10 times, and the annual return rate has reached 400%, which is not bad.

Chen Wei took a look at Lei Dongming. The headlines had already removed the cancer of Huayi Capital. Should Didi learn from it?

Shen Beipeng was somewhat embarrassed, and he explained to Lei Dongming: "Even if the black shirts don't vote, Softbank or other institutions will vote."

"I understand, I understand, why buy a track!" Lei Dongming didn't understand anything, the shopping mall is so complicated, friends and enemies are changing at any time.

From the perspective of the black shirt, there is nothing wrong with hedging risks and betting on both sides.

The most important thing is that the basic business aspect of Toutiao’s financing this time is to watch Toutiao APP, not short videos.

How many users does Toutiao short video have?
Excluding short videos, Toutiao is still a super unicorn with a valuation of tens of billions of dollars in the field of news and information distribution.

　Thanks for the reward of 20190804001217594!
　　I went to sweep the grave today, and I got home late, so the update is a bit late, sorry!Hey, full attendance is gone, and Chapter 1 was issued at twelve o'clock, so miserable.

　　
　
(End of this chapter)