The Birth of Shanghai's First Conglomerate

Time slipped by in a blur.

Luo Shih-hao received an offer letter from Tengfei's human resources department three days later.

The position starts as a Level 2 Engineer.

Chen Pingsheng didn't know whether he excitedly ran to take Chu Ting's virginity.

But one thing is certain: more and more people are sending him resumes this year.

June is just around the corner, and June is graduation season.

In the past two weeks alone, Tengying Group has received over 150,000 resumes from various universities.

This is not the peak; the peak usually occurs between June and July.

Two problems are clearly visible from this data.

One reason is the increasing number of college graduates, exceeding ten million every year.

Good jobs are becoming increasingly scarce.

Once this supply and demand balance is completely broken, college students will become increasingly worthless.

They are even far inferior to those who learn technical skills after graduating from junior high school.

The government has launched a diversion program, calling on more people to switch to technical skills starting from junior high or high school.

This also means that the country simply cannot accommodate so many college graduates every year.

Their future... is an unclear dream.

Despite the rising temperatures, the group's central air conditioning system is still working very well.

And the headquarters of Tengying is located in the most prosperous area of ​​Shanghai, the Bund.

You can enjoy a quiet view of the Huangpu River and also overlook the entire metropolis of Shanghai.

Even after Zhang Wanyi left, the competition within the secretariat remained fierce.

Meanwhile, Lin Qiunan, the university's most beautiful girl, has already begun her daily work as her personal secretary.

She is not yet able to reach positions like a president's special assistant, but she is very attentive to details in daily life.

Lin Qiunan wore a white shirt, a blue pencil skirt, and black stockings.

The goddess who was admired but unattainable by everyone in the university was now doing the work of serving tea and water.

After taking a small sip of tea, Chen Pingsheng glanced at the email Zhang Wanyi had sent back.

The above provides a general overview of Douyin's short video development this year.

And Tengyou's overall plan for the next six months, or even a year.

In the summer of 2018, Douyin ushered in an era of explosive growth in traffic.

At least seven out of ten people have already downloaded Douyin on their phones.

And the amount of free time people spend on this even exceeds that of the nation's number one social media app.

WeChat.

This puts enormous pressure on Tencent, but also presents a wireless opportunity for Tencent Media.

Specifically, Tengyou consists of three parts.

The first section is about cultivating top online influencers.

This part mainly relies on making money through advertising; Douyin has not yet launched its own product sales function.

It is expected that Douyin will start to focus on monetization by the end of the year.

The future of these top online influencers will primarily revolve around selling products.

Another component is guild live streaming, which earns money through user donations.

This area is also the most chaotic.

If you tip a few top donors, you can basically sleep with a female streamer.

Chen Pingsheng strongly suspects that many of those who were laid off in Dongguan are now turning to live streaming.

This has led to the market's continuous expansion and indirectly increased the cost of using shared bicycles.

You used to be able to find a twenty-year-old girl for just two hundred yuan, but now you need to tip her several thousand yuan online.

That female anchor would rather live an empty nest than accept your little golden cudgel.

This area is beyond our control and even more impossible to regulate.

Most people basically turn a blind eye.

Besides these two, there is also corporate cooperation, which helps companies or brands drive traffic.

These are the three main areas at present.

Currently, the most profitable activity is clearly guild live streaming.

Because there are really a lot of idiots who would rather eat instant noodles every day than waste the money they've worked so hard to save.

I'll tip those female live streamers.

Tencent's affiliated guilds have over 30,000 female live streamers, spread across twelve major cities in China.

The revenue from this sector alone is at least seven or eight hundred million a year.

Without exaggeration, given his current social status, he could easily sleep with any of those campus beauties.

Each day is a different one, and they won't repeat themselves for ten years.

It's easy to sleep with them, but hard to control yourself.

It's clear that since Zhang Wanyi, the secretary, arrived, she has been working very hard to organize Tengyou's work.

"Uncle Chen, here's some fruit for you."

"Okay, put it over there."

Lin Qiunan gently placed the fruit plate next to him. She didn't know what the big boss was busy with, but he had refused many people's requests to meet.

Among them are many important figures in the city. Tengyou Media has grown alongside Douyin, and the relationship between the two is like that of a married couple in ancient times.

We must support each other.

In order to further consolidate Tengyou's absolute position on Douyin, Chen Pingsheng picked up his phone and called Zhang Yiming.

Invite him out to discuss cooperation.

Zhang Yiming has enjoyed immense success in the capital market over the past two years, and many bigwigs who missed out on him are now kicking themselves for it.

Chen Pingsheng didn't have that feeling; he had countless opportunities along the way.

Besides, he didn't have any extra money to invest in Zhang Yiming at that time.

The term "BAT" (Baidu, Alibaba, Tencent) is an old way of referring to the three internet giants.

Baidu is clearly lagging behind now and can no longer keep up with the pace of Tencent.

The one with the best chance of surpassing Baidu is none other than Zhang Yiming, a bespectacled and refined young man.

Chen Pingsheng's current social status is certainly no lower than his.

It's hard to say what will happen in a few years.

After all, Douyin is just starting out, while he has seven or eight listed companies with a market value of over 10 billion.

There's also Tencent Entertainment, with a market value exceeding 1500 billion yuan, right there in front of us.

This is something that Zhang Yiming can't compare to now.

Therefore, Chen Pingsheng still arranged to meet him in Shanghai.

His meaning was simple: for further cooperation between the two, he would offer 30% of Tengyou Media's shares.

Zhang Yiming can purchase it with cash or exchange it for Douyin shares.

One is the platform, and the other is the largest influencer economy under the platform.

If Chen Pingsheng doesn't cooperate with him in this step, Zhang Yiming might restrict his traffic in the future.

Tencent Media is easily subject to restrictions.

For the sake of long-term considerations, this cooperation must be agreed upon before Douyin truly takes off.

Douyin's current valuation is as high as 700 billion US dollars, and anyone can see that there is some inflated value in that valuation.

Chen Pingsheng valued Tengyou Media at 450 billion yuan.

It looks very tall, but you should know that he has nearly half of the top influencers on the entire platform.

There are also 30,000 to 40,000 guild streamers.

The supporting companies that promote the products include Teng Hui Department Store, No. 9 Warehouse, Snack Busy, Bobo Milk Tea, Deer Antler Coffee, and a series of other large enterprises.

It's fair to say that once Douyin decides to do live-streaming e-commerce...

With a single order from Tengyou Media, its development time can be accelerated by at least two years.

Because it has the most complete physical supply chain.

In first- and second-tier cities, delivery can even be achieved within one day.

This is Tengyou's most valuable ability, and it's something Zhang Yiming must consider.

Douyin is such a big company, it's impossible for him not to do e-commerce.

If you want to do e-commerce, you have to dig into Alibaba's roots. With him assisting you, it will obviously be much faster.

The two sides share many common interests, which is the premise for cooperation.

Zhang Yiming proposed using a share swap to complete this cooperation.

Chen Pingsheng completely agreed.

He doesn't lack cash now; what he lacks is a longer-term plan.

The two talked for a whole week.

Finally, 30% of Tengyou's shares were exchanged for 2.5% of Douyin's shares.

In retrospect, he suffered a slight loss.

Because Tencent's valuation was reduced to 400 billion, while Douyin's remained unchanged.

Zhang Yiming was absolutely certain that Douyin's future might not only surpass Baidu, but even surpass Tencent.

Okay... since he's so confident.

Chen Pingsheng simply conceded a step.

They exchanged 30% of Tengyou shares for 2.5% of Douyin.

Once the collaboration between the two is finalized, no other influencer marketing company will be able to surpass him in the next ten years.

The wise man devises strategies... that's roughly the idea.

With the deal finalized, he became Douyin's seventh largest shareholder.

Only six people are ahead of him: Zhang Yiming, Sequoia Capital, SoftBank, Atlantic Investment Company, and Carlyle Group.

And Hillhouse Capital.

It's quite impressive that he ranked seventh here.

Anyway, Chen Pingsheng was quite satisfied.

To date, he has invested in four large companies.

They are Meituan, Pinduoduo, Tesla, and Douyin.

Most of the shares held were around 3%, with only Douyin reaching 3.5%.

With these large corporations supporting him in the coming years, his personal assets should only continue to rise.

(End of this chapter)