The Birth of Shanghai's First Conglomerate

Magic City.

Xinteng Live Headquarters Building.

This massive live-streaming sales event has shown everyone the potential of live-streaming e-commerce in the future.

After spending some time in Beijing, Chen Pingsheng flew to Shanghai.

Unlike his full-scale expansion into Shanghai last year, he now owns many ubiquitous businesses here.

Deer Antler Coffee, Teng Hui Department Store, Teng Sheng Fresh Food, including Shui Yun Jian, Trainee Competition, etc.

Now there's another large live streaming company in the short video field.

I used to feel a bit unfamiliar here, but this year it feels like coming home.

Chang Fu received him at his headquarters building, accompanied by several of the company's most popular female anchors.

Such as Qiaomei, Mingming, and Futuan.

Chen Pingsheng hadn't really learned much about this industry before, and he was only here to listen to Chang Fu's future plans.

In general, this industry first establishes itself on content, and then relies on entertainment live streaming or e-commerce to achieve final monetization.

If we trace the origins of live-streaming e-commerce back to its earliest days, it should be television-based e-commerce.

And now, it's not just short videos that are making a push.

Alibaba, the largest e-commerce platform in China, has also started to focus its efforts on this area.

Before Taobao Live officially launched in 16, the shopping guide platform Mogujie had already quietly launched its live streaming function, but it did not cause a stir in the industry.

The launch of Taobao Live truly set a trend in the industry.

The entry of industry giants signifies the emergence of a brand new track in the shopping sector.

Whether it was Qiaomei or Mingming, they didn't dare to breathe loudly when they saw the big boss quietly looking at the financial statements.

The big boss may seem ordinary, but he has a strong presence when he's quiet.

The main reason is his status; compared to these big internet celebrities, he's far superior.

After putting down the report, Chen Pingsheng said:
“You’ve really done a great job. You’ve made rapid progress in the last two months. I’ll call Bai Xin. If you need any celebrity resources, just contact her.”

"Also, you could let those girls from the trainee competition try selling products."

Chang Fu was very excited, even though it was just a simple explanation in a sentence or two.

This also means that they will become the first live streaming company in the industry to have all-star resources.

A lead at one step means a lead at every step.

It's worth noting that Tencent Entertainment is now a super-large entertainment group with a market value of nearly 30 billion yuan.

Second only to those two established giants.

Its influence in the entertainment industry is extremely profound.

Chang Fu said, "This year's goal is to cultivate ten internet celebrities with over ten million followers, establish a complete live-streaming e-commerce channel, and sign and incubate more outstanding online influencers."

Overall, Xin Teng's live streaming is still centered on selling products.

Once Shanghai has fully developed, he will also establish branches in several first-tier cities such as Beijing, Guangzhou, and Shenzhen.

And offices.

Chen Pingsheng doesn't concern himself with these specifics. When he chooses the right path, everything he does is much more efficient.

If you choose the wrong path, then the choice will definitely outweigh the effort.

I didn't see Bobo Milk Tea go on the market in just one year, while Boiling Sheep endured three long years.

The current live streaming industry is the same; it's a completely new arena.

His competitors also rely more on luck to succeed.

For example, the most popular person on the platform right now is MC Tianyou, who is known as "I Drink and Get Drunk".

Before he became famous, he was selling fried skewers and working as a cashier at an internet cafe.

It's now incredibly popular online, and its influence among teenagers is beyond imagination.

One of his live streams can have over three million viewers simultaneously.

After the fire, they became even more unscrupulous, daring to say anything.

Chang Fu wanted to try signing this kind of person, but Chen Pingsheng refused outright.

After watching his live stream for a few minutes, he felt that this person was definitely going to get into trouble.

As I said before, if making money doesn't take time, it's easy to be misled by large sums of money.

This leads to a loss of self-awareness.

Chen Pingsheng can only say that short videos have given too many young people opportunities.

Such opportunities come too quickly, and are even fraught with uncertainty.

Just think about it, in the past, it would have been difficult for an ordinary person to earn their first million.

That's so difficult!

Three years is considered a miracle, five years is just the beginning, and having this much savings in ten years is a great success.

And now, it's all because of a single sentence and a short video.

Suddenly, he became a huge internet sensation, and then he started live streaming and earned millions in three days.

This speed is simply unimaginable.

He believes that if this continues, more young people will choose the live streaming industry in the future.

Even someday in the future, when the teacher asks the children in the class, "What do you want to be when you grow up?"
He would say without hesitation that he wants to become an internet celebrity.

Given the incredible monetization potential of short videos, he feels that day might not be too far off.

You have to understand that back then, when teachers asked this question, the children would either say they wanted to be scientists.

Either become a teacher, or become a policeman, spending your days upholding justice and catching bad guys.

It can only be said that as times progress, business is also constantly evolving.

If Xin Teng continues to operate his live streaming business like this, earning a billion yuan within a year will be a piece of cake.

Even with an investment of over 1 billion yuan and more than 30,000 employees, the profits from "Boiling Sheep" are still not this high.

This shows just how incredible the live streaming industry is.

Chen Pingsheng himself invested 200 million yuan and also acquired 80% of the shares.

For him, the size of the profit was far less exciting than going public.

He went to Tong Zhelan to discuss a collaboration with Xin Teng on live streaming. Currently, it's only been one live stream, but its scale and future prospects are already quite clear.

After all, they were able to cultivate three top streamers with over ten million views within two months.

There's also Fu Ye, the number one richest person on the entire internet.

Tong Zhelan instructed the investment analysis department to calculate the future of Xin Teng Live.

Through a comprehensive industry analysis, and by combining the resources owned by Tengying Group.

Xinteng Live has at least a 50% chance of becoming a unicorn in the industry.

Even Tong Zhelan exclaimed, "How long has it been?"
Even before Boiling Sheep's IPO was completed and the company was officially listed, another super money-making machine has appeared on his side.

It's not a matter of luck; it's just that the group has developed to this level, making it easy for them to incubate large companies within the industry.

Have you seen how incredibly popular Xiaomi has become on the internet in recent years? Do you think it's just a mobile phone seller?

The entire industry chain has been involved, with at least a hundred companies investing in or cooperating with upstream and downstream businesses.

Every year, five or six Xiaomi-affiliated companies go public.

Including Tencent and Alibaba, which dominate the internet, their subsidiaries are countless.

Companies valued at less than 10 billion are not included in that category.

Tong Zhelan asked him, "What valuation do you want?"

Chen Pingsheng said, "Actually, as you can see, the live streaming industry is very likely to boom. Taobao has directly entered the market this year. If Xin Teng's live streaming continues to develop in this trend, it will be very easy to make billions in profit a year. I want a valuation of 3 billion, and I can sell you 30% of the shares. In addition, you have to make it go public within two years."

A live-streaming company with annual profits of over a billion yuan, valued at 3 billion yuan, is truly a bargain; no investor would refuse such a valuation.

As for aiming for an IPO within two years, Chen Pingsheng mainly believes that the live streaming industry has an extremely strong monetization capability.

At first, many people probably didn't realize it yet, so not many people played it.

Two years from now, many Fortune 500 companies will likely embrace live streaming.

If Xinteng Live goes public by then, it will be the first company in this field.

No need to worry about whoever comes.

Becoming the first listed company in the live-streaming e-commerce sector is of great significance.

It concerns its future position in the industry.

Tong Zhelan immediately shook hands with him, "Deal."

The two signed a cooperation agreement in the presence of their respective teams.

This is already their sixth collaboration on a project.

The first five were all very successful, which made Tong Zhelan have great faith in Chen Pingsheng.

She would generally agree to any project he proposed.

There's no need to even ask what the project entails; that's the power of mutual trust.

Chen Pingsheng swore that Xin Teng's live streaming was definitely the fastest project for him to cash out, bar none.

Perhaps there will never be another one.

Don't believe me? Just listen to this.

"Ding, congratulations host, today's income has accumulated to 700 million."

"Would you like to enable random multiplication?"

Look, is there any project that allows you to cash out even faster than this?
There isn't any at all.

His investment in Xinteng Live was only 200 million yuan, but this time he transferred 30% of his shares and made 900 million yuan.

If you subtract the costs, it's only 700 million, right?

Chang Fu gave him a really big gift.

He didn't rush to roll the dice. Instead, Tong Zhelan asked him if he wanted to go to another CEO training course together.

The location is in Hong Kong.

Most top executives attend these executive training programs every year.

Firstly, personal energy is limited, so it's impossible to know everything.

Secondly, those who can attend those top-tier CEO programs are all of a high caliber.

There is a very strict screening process for registration.

It's like a millionaire: even if you spend all your savings to buy a ticket to a CEO training program, you still won't be able to sit at the same table as them.

You'll be eliminated because of the background check.

If you don't believe me, look at Professor Ma's Lakeside University.

You need a recommendation letter from a co-founder to get in; it's not just about having money.

So, the higher you go, the more pronounced the clique culture becomes.

The executive program that Tong Zhelan chose this time is the Hong Kong University of Science and Technology EMBA program.

Given Chen Pingsheng's current situation, he is eligible to enroll in any CEO training program.

Getting into Lakeside University, which is affiliated with Teacher Ma, is also an option.

However, the focus there is mainly on internet entrepreneurship, while Hong Kong University of Science and Technology's EMBA program is clearly concentrated on three areas: technology entrepreneurship, management, and finance.

In these aspects, it has a very high advantage.

Every top business school has its own strengths in specific disciplines and programs, assuming it has sufficient funding.

It mainly comes down to which one suits you better.

Tong Zhelan felt that the biggest gain from her trip to Beijing was getting to know Chen Pingsheng.

This led her to quickly become a well-known investment bank in China after leaving the international investment bank.

The number of projects I receive every day is more than ten times that of before.

While not all of these projects will necessarily succeed, the chances are always much greater.

It's like a man choosing a wife; one wants a dowry of 500,000 yuan and someone who is reasonably good-looking.

One of them asked for a bride price of 200,000 yuan and also brought two children?
In this situation, almost any choice you make will be wrong.

If there are ten women in front of you, then choosing will be easy.

(End of this chapter)