Revisiting Future Path

144th Yiwu Meets All Heroes

The power of Chinese music copyright owners is too small, and companies such as Baidu can unscrupulously infringe, while in the United States, the power of music and film copyright interest groups is huge, and P2P downloads are at risk of being sued. When Chunqiu put on the infringement hat for Baidu and promoted it for free in the United States, Baidu's road to listing in the United States suddenly became bumpy.

However, capital is greedy by copyright profits rather than copyright itself. In order to prevent certain capital from taking risks to send Baidu to Nasdaq, Chunqiu Search has formulated a pseudo-IPO plan, specifically for Baidu to release more detailed performance reports, piercing Baidu's beautiful bubbles.

Seeking truth from facts, the behavior of Spring and Autumn Search to burn money to seize the market has indeed interrupted Baidu's future with a blow. Baidu's market share has been cut to 15.5% as proof.

The profit model is not clear, and the reputation of infringement is taboo. Baidu's first IPO ended in failure.

2005 was still the era of the three major portals. At most, two online game operators, Chunqiu and Shanda, were added. Tencent, Alibaba, and Baidu in particular, have yet to show signs of being a king of BAT. The search engine industry has just clarified its characteristics. Everyone pays limited attention to it. It is normal for Baidu to be swept by Google and Chunqiu Search by capital advantage. If Baidu can succeed in IPO, it will definitely attract a lot of attention; and the news of failure, ha ha, can only become an easy notification.

Ma Huateng and Zeng Liqing knew that Baidu's IPO had failed.

Such a result was expected by Ma Huateng and Zeng Liqing as well as by all Internet entrepreneurs.

Although Chunqiu Network only operates three online games, you can see the results of the second quarter of 2005 released by Chunqiu Network. The quarterly sales of "Ten Kingdoms Spring and Autumn" are 563 million; the quarterly sales of "Legend of Survival" are 256 million; "World of Warcraft" 》From May 21st to June 30th, the accumulated sales amounted to 117 million, and the quarterly total revenue was 937 million. Converted at the current exchange rate on September 2, 2005, it is approximately equal to 116 million US dollars.

Of these three games, one has an average monthly sales of close to 200 million, and the average monthly sales of two is close to 100 million. If someone else has a game of this level, you can be so happy that your eyes are whirling tears, but Chunqiu.com has three games in amazement. After "Ten Kingdoms Spring and Autumn", the introduction of agency "World of Warcraft" fires, and the independently developed "Road to Survival" has gradually become popular. Spring and Autumn has shown the world the sustainability that Shanda, Ninth City and other network operators do not have. Sex.

While Baidu was still struggling to raise US$100 million, Chunqiu Network’s quarterly revenue had reached US$116 million.

How does Baidu compare with Chunqiu.

When the Spring and Autumn Search Festival began to burn money tactics, Baidu's tragic fate was doomed.

Chunqiu search burns money and burns Baidu to the point of Ma Huateng and Zeng Liqing's expectation, Ma Huateng and Zeng Liqing's awe-inspiring thing is that Wei Dongsheng actually paid attention to the battle of Chunqiu Baidu. In order to completely stifle Baidu, in addition to the well-known domineering oath of "burning Baidu into bankruptcy", Wei Dongsheng even launched a pseudo-IPO strategy, and completely cut off Baidu's financing dream.

From Baidu to Tencent, recalling that Chunqiu Network had just raised US$644 million on the Nasdaq listing, and it joined with Chunqiu Software to inject 600 million yuan into the social networking site Siwei Space. After receiving the funds, Siwei Space quickly launched a new one. Round to burn money promotion. The tactics of the four-dimensional space are so similar to the way of searching and killing Baidu in the Spring and Autumn Period!

If Tencent did not choose to compromise under the pressure of MIH and management, the Tencent of tomorrow would definitely be the Baidu of today.

Ma Huateng felt more and more the cruelty of the capital war.

First sell Tencent's stock price to lock the way to make money in the stock market; then apply pressure step by step to intensify internal conflicts; when Tencent is caught in the quagmire of civil strife, Siwei Space suddenly launched a tactical attack on money burning. If Tencent closely follows the pace of 4D space, it will be a chronic bloodshed and suicide; if it gives up following, 4D space will surely advance lightly and quickly stain the territory of China. This is a serial killer that the capital side has tried repeatedly.

A new evaluation of Wei Dongsheng surged in Ma Huateng's heart.

hypocritical.

Too hypocritical.

Wei Dongsheng kept saying that he didn't care about Tencent, but he decisively and resolutely killed Tencent's future.

Wei Dongsheng's offensive was not a wave of waves over Mount Tai, but a continuous offensive like the sea, one after another. Tencent can survive the first time and the second time. Who can guarantee that it can survive the third, fourth, and fifth times? Moreover, even if it survives, the result is not optimistic. The speed of Internet development in China is advancing every day, and new things are emerging every month, almost one era per year. If you miss this era, it will be difficult to catch up again. If NetEase could follow QQ to launch NetEase Bubble, how can Tencent's capital ignore the threat of NetEase Bubble today.

If the Spring and Autumn Period does not die for two years, it will kill Tencent.

Behind Feng Qingyundan is a fox-like treacherous.

Ma Huateng adjusted his impression of Wei Dongsheng. Suddenly he didn't bother to talk about the topic that he had memorized for a long time.

No need to say it.

Having said that, it is useless.

Going around in circles with the fox will only go round and farther in.

Ma Huateng said that he had seen Wei Dongsheng's essence clearly, and decisively gave up the flexible strategy agreed with Zeng Liqing and Zhang Zhidong, and exchanged opinions straightforwardly: "Can Siwei Space be merged with the Qzone project?"

Wei Dongsheng didn't know Ma Huateng's hypocritical evaluation of him, but even if he knew it, he wouldn't care too much. Wei Dongsheng refused step by step: "The positioning of Quantum Rose for four-dimensional space is completely different from Tencent's positioning for Qzone. Forcible merging of the two will only bring about counterproductive effects."

Ma Huateng asked: “Since the positioning is different, does Spring and Autumn support Tencent’s development of the Qzone project?”

Wei Dongsheng: "Chunqiu only opposes Tencent's extraction of profits from Chunteng Games to develop Qzone. Because in this case, Chunqiu will also extract profits from Chunteng Games to develop four-dimensional space. Both are purely meaningless burning money. As long as Tencent can guarantee not to draw Chunteng Games’ profits compete with Chunqiu’s related businesses, and Chunqiu does not oppose any beneficial decisions made by Tencent in principle.

Ma Huateng: "What if Qzone defeats 4D space?"

Wei Dongsheng: "At this point, you don't need to worry. The products that survive the market battle are the real products. If 4D Space gets enough funds and still fails, it can only be said that it is destined to be a failed product and is not worthy of attention. Four-dimensional space is defeated by Qzone. Chunqiu will only pay more attention to Qzone and Tencent."

Ma Huateng and Wei Dongsheng quickly exchanged questions and answers, and found that Wei Dongsheng's speech was extremely loose, and it seemed that he had no intention of restricting Tencent's future. Ma Huateng didn't dare to take it lightly, because Wei Dongsheng did the same before. As a result, the first time he sold the stock price mercilessly to stifle Tencent's hopes, the second time he took advantage of Tencent's decline and civil strife, the Lions opened their mouths and demanded 20% equity. Wei Dongsheng left Ma Huateng's impression that his promises must not be credulous. Although Wei Dongsheng would not deceive others, he was used to saying only half of his words. Behind every promise is a series of conditions. For example, for equity adjustments, Wei Dongsheng was indeed satisfied to obtain a 6% stake. Dongsheng Holdings’ stake increased from 9% to 15%, but Chunqiu Network and Chunqiu Software violently pulled down Tencent’s 14% stake.

Feeling that there is enough time for the talk, Ma Huateng began to finish: "At the beginning of Chunqiu's shareholding in Tencent, I said that if the conditions are right, Tencent will launch its own online payment tool. Today, the situation has changed. If Tencent launches online payment again, Spring and Autumn will definitely Raise a placard to stop it. Rather than having disputes then, it is better to bind the credit treasure on the spot. However, Chunqiu's affiliated company Zhiyu Technology has also launched a store that exclusively sells Zhiyu Music. Is Chunqiu planning to enter the e-commerce market with this?"

Wei Dongsheng replied: "Chunqiu software is the root of Chunqiu, Chunqiu search is the trunk of Chunqiu, and Chunqiu Internet is the branches and leaves of Chunqiu. When I discussed "Road to Survival" with Kney (Zeng Liqing), I have made it clear that the soul of Chunqiu It is a search engine company. The "Ten Kingdoms Spring and Autumn" and "Road to Survival" operated by Chunqiu Network will develop in the direction of artificial intelligence in the future, creating online games with search engine characteristics. Although Chunqiu is currently famous for online games, its future is destined to Laiyue is like a search engine company. My positioning of Chunqiu is similar to that of Google, and I will not waste time and energy to develop replicas such as Taobao."

Ma Huateng: "Since Spring and Autumn does not want to contaminate e-commerce, what about Tencent?"

Wei Dongsheng: "My attitude is not for or against."

After the equity adjustment, Chunqiu has the right to veto the future development of Tencent. If Spring and Autumn did not object, it would have been Ma Huateng's victory. With Spring and Autumn’s promise of no objection, Tencent’s founder team is confident to persuade MIH, who knows little about the Chinese market, to smoothly enter the promising e-commerce.

Obtaining Wei Dongsheng’s positive attitude, Ma Huateng further disclosed the details: “Before the equity adjustment, Tencent was preparing to enter e-commerce, launching Paipai, similar to Taobao, and Tenpay, similar to Xinbao and Alipay. If Spring and Autumn does not object, Tencent will castrate. Tenpay continues to bundle credit treasure, and will officially launch Paipai.com and Taobao.com in a few days."

Wei Dongsheng made no comment: "I have no objection."

Ma Huateng cautiously asked, "Where is the Spring and Autumn Period?"

Wei Dongsheng: "Spring and Autumn will not object."

Ma Huateng breathed a sigh of relief: "Speaking of competitor Taobao.com, Jack Ma invited me to participate in his fifth "West Lake Sword". I am going to explore the enemy. What do you think?"

Wei Dong gave Ma Huateng a long look at his business.

With his feet on Ma Huateng's legs, he does not need to consult Wei Dongsheng at all if he wants or does not want to participate in Ma Yun's "Sword on the West Lake". Chunqiu's control over Tencent is not so serious that Ma Huateng can ask for instructions before going out. Ma Huateng's seemingly random question is actually an indirect test of Wei Dongsheng and Chunqiu's resistance to him, and see if there is still a chance to continue to control Tencent with 6.43% of the shares.

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