I'm almost a Muggle

In February when Boss Lin was busy filming, another big thing happened, which may have nothing to do with these crew members, but was talked about by countless netizens.

In December last year, Tiantian Toutiao completed a USD D round of financing of USD 1 billion, with investors including Sequoia Capital, China Construction Bank International, etc., with a post-investment valuation of USD 11 billion.

After getting the money, Tiantian Toutiao began to increase their volcano videos.

In October last year, Volcano Short Video had 30 million active users, ranking third in the short video partition, second was slow hand with 70 million active users, and first was Miaoyin short video with 140 million active users.

The reason why Miaoyin short videos have come from behind is naturally because they gave money and traffic.

Boss Lin gave Yang Baofu several times and obtained a variety show naming rights worth 500 million, which made the opponents unable to find the north and south.

Perhaps because of this fear of being dominated by capital, Tiantian Toutiao has begun a new round of financing.

I got a billion dollars directly.

This shows that they are optimistic about their family’s capital, and there is nothing they can do. The products of the cat factory are not financing at all, and even if they are optimistic about them, they have no choice.

After getting the money, Tiantian Toutiao directly invested one billion in short videos.

Money is not omnipotent, but in the capital market, spending money can really solve many things. Volcano Short Video's active users have increased to 80 million, ranking second.

After all, you can get red envelopes by watching videos. There are always things like capital gains that old men and women don’t want to miss.

Three mobile phones are placed in front of you, and it works like a programmer writing code.

In addition, Tiantian Toutiao has increased its investment in their community business.

The original name of Tang Monk Q&A was Toutiao Q&A, which was launched in July 2016 on the Tiantian Toutiao App.

After receiving one billion US dollars, Tiantian Toutiao renamed it to Tang Monk Q&A, upgraded it to an independent product, and explored the functions of the Q&A community.

Obviously, Tang Monk’s Q&A is targeted at the same time.

As of February 2017, Mouhu had 69 million registered users and the number of daily active users reached 20 million.

Although Tang Seng Q&A is very young, relying on the huge user base of Tiantian Toutiao App, the number of registered users is currently 50 million.

Compared with Mohu, the advantage of Tang Seng’s Q&A is that its traffic diversion cost is low - users can see Wukong’s Q&A through the main page of Tiantian Toutiao.

Tiantian Toutiao had 550 million registered users last year. For many users, there are so many applications on their mobile phones, and if you can install less, you can install less.

So the question is, how should rich Internet tycoons do things?

Isn't this nonsense? Of course it's just spending money.

After using users, the focus of Tang Seng’s Q&A was to improve content quality and community quality.

However, the cost of cultivating big Vs is too high.

So spending money to poach becomes the easiest strategy.

It is said that at least 200 big Vs of Mr. Tang have signed a Q&A with a generous reward.

Some netizens revealed that some of the respondents signed by Tiantian Toutiao can earn 30,000 yuan a month.

The news quickly sparked heated discussion.

Haven't been poached by Toutiao, but still dare to say that he is a big V?

This is the newly released method of greeting the big V. It also becomes "Did you sign?" "No, where are you?" "Hey, we can't do it."

The official response of Mouhu is: "At present, Mouhu Live has more than 2,000 speakers, with an average hourly salary of more than 10,000 yuan. Our publishing has also brought more than 300,000 yuan in royalties to many users."

However, when asked, most of these incomes should be obtained by the super big and small answerers? So for ordinary big Vs and small and medium Vs, how can I maintain their stickiness?

Mr. Hu said that he has been actively promoting commercial development and has clear profit goals, including that he now has large-scale advertising revenue, and the revenue growth is quite healthy.

But no matter what, Mouhu is really overwhelmed.

After working hard for so many years, there have just been 69 million users. Tang Seng Q&A was established in the middle of last year, but in just half a year, it has reached 50 million, which is only a matter of minutes beyond them.

I could have used the answerer as a basis.

Unexpectedly, they signed two or three hundred directly. If calculated based on 30,000 yuan per month, the cost of that year would be 100 million yuan.

Don’t be too simple for Tiantian Toutiao, which has just raised a billion dollars in financing.

But the financing of Mohu is not that comfortable.

In March 2011, Mouhu received an angel round investment from Kai-Fu Lee, and then received a 10 million US dollar A round investment from Qiming.

It was not until three years later, in 2014 that it completed a US$22 million Series B financing led by SoftBank Wealth.

This little money is not enough to spend.

I had to continue to seek capital help, and finally started a Series C financing at the beginning of 2016, and received a total of US$50 million.

Lin Winter Capital, a subsidiary of Cat Factory, spent 186 million Chinese coins and obtained almost 10% of the shares.

A certain goose was also entering the market at the same time.

But they paid less money, not as much as the cat factory.

Faced with the pressure of Tang Monk’s Q&A, it was time for me to raise funds again.

Some financing is once every few years, and some financing is once every few months. From a cycle perspective, of course, the shorter the better.

This means that the project is developing rapidly.

You raise funds for a project every three to five years, and the capital has no interest in you at all.

What is more concerned about than the cycle is actually valuation.

If the valuation cannot be raised, you must not raise funds, because you will soon find that this project is not yours.

During the C round, the valuation was only 300 million US dollars.

The valuation of Tiantian Toutiao after completing the D round is US$11 billion.

This is a bit too big.

How much can a certain value be now?

The capital market's reaction was extremely cold, unable to be cashed out, and there was not much traffic, not to mention that it was hit hard by video content.

One of the future development trends of the Internet is undoubtedly video information flow.

With the update of mobile phones, the Internet speed is getting faster and faster, and traffic is getting cheaper. Long videos and short videos will gradually expand their user time.

Even the big-head advertising of Mohu's revenue is not so smooth.

It's far less than live streaming sales.

How do you ask the answerer to help you bring goods? Writing the small soft article can't escape the sharp eyes of the users of the Hokkien, and their life experiences are so rich that it is outrageous.

Then there is knowledge payment.

As the wave of knowledge payment swept in 2016, the founder of Mouhu is said to be dancing at a gathering of Internet giants, believing that with this wave, Mouhu will become the fourth Internet giant outside BAT.

Then related paid products were launched one after another, trying to convert high-energy users into high-profit income without blind spots in all aspects.

Unfortunately, the effect is very average.

According to the shareholder financial report obtained by Pei Qianlong, the book revenue of the core knowledge paid products of Mouhu is about 70-80 million yuan. In the second quarter of 2016, the monthly income exceeded 10 million yuan, but in the fourth quarter, the monthly income was only between 3-4 million yuan, a huge decline.

Now most of the operating income of the supportive Hu still comes from advertising. Moreover, for the sake of the good-looking financial statements, especially when a new round of financing is about to be carried out, the advertising placement of Hu has almost reached a "pervert".

Shareholders Pei Qianlong and others also had exchanges.

As the Internet environment is getting colder, investors are increasingly vigilant about investment security, so some people have expressed that they need to include betting agreements and business stage indicators in the new round of financing.

If the business stage indicators are not completed, you will sell it and pay us money.

This way we can lose less.

At this point, capital has already treated a dead horse as a living horse.

"Look, isn't this an opportunity?" Pei Qianlong spoke to his cousin while reading the financing application report.

"Brother, I have known since I was a child that you are extraordinary and will definitely be among the most popular people when you grow up."

His cousin was smiling at this moment.

She looks more like a father-in-law than Eunuch Pei.

There is no way. Whether he can win Qiandu and Ali's Leku depends on his brother.

"What does this have to do with me? Our boss is so lucky." If Pei Qianlong was in ancient times, he would have to shout that Tianyou's blessing to my big cat factory and Tianyou's blessing to his lord.

I just said I wanted to acquire a certain Hu.

Tiantian Toutiao cut off a lot of money with great confidence.

And Mouhu's own financial report is also a mess.

Oh, by the way, there is a capital winter.

I said that last year was a capital winter, but I felt that this year was not much better.

In this case, chasing short-term profits is what a normal capital should do.

For example, shared bicycles and long-term rental apartments.

The more you hype, the more you make money.

Companies like Muhu that have been doing things since 2011 and have not yet made a profit, and have survived several financings, are really troublesome when encountering the capital winter.

"Why did the boss give up shared bicycles? Look at how popular it is now." Pei Qinhu couldn't figure it out.

Of course, he is not opposed to giving up his share of bicycles - he is also counting on this Leku, which helps him replace Ali and Qiandu.

"Our boss is a sensible person and a down-to-earth person. Shared bicycles may have been able to be done, but if you are mixed up with these capitals, good things will not be much better. We retreated at the peak, and it is not too late to come in and clean up the mess after these capitals are finished. After all, this thing is beneficial to the public in the end."

Pei Qianlong does not intend to take credit here.

"Then how do you know that March is the highest peak?" Pei Qinhu asked if he didn't understand.

"No one knows when the month is the peak, but it just feels that it is almost at its peak. Their financing in March is completed and it will almost last until the second half of the year. I sent someone to investigate more than a dozen shared bicycle brands, and I feel that there will be brands that will not be able to hold on to the storm in the second half of the year."

"We are the top three investments. Even if it is a sudden storm, it's not our turn, right?"

"You know, as long as a brand fails to refund the user's deposit, it will cause more users to panic. They will rush to return the deposit. This situation is simply unimaginable."

"I understand, then the entire industry..." Pei Qinhu shuddered.

"The biggest loss is capital and users. The former is too greedy and the latter is too weak." Pei Qianlong sighed.

At that time, the founder will only bear limited liability and can continue to start a business and make money.

"Why are the long-term rental apartments? Didn't the boss ask you to find more projects? I think it's a good time to enter the market, and there is Zheng Ce's support." Pei Qinhu asked.

"Actually, this thing is the same as shared bicycles. The starting point is good, but the capital is too anxious, or the operators driven by capital are forced to be too anxious, and sooner or later something will happen." Pei Qianlong actually considered that he could learn to retire at peak times by sharing bicycles.

But he gave up in the end.

During an avalanche, no snowflake is innocent.

If the shared bicycles are in full swing, the capital behind the cat factory industry will be very sinful.

But now I have come to this point and I have no way to stop it.

At most, it is to rebuild order from a mess.

So, forget about long-term rental apartments.

Even if the boss knows that he missed this harvest opportunity, he probably won't care too much.

"Then when will we talk to Ali Qiandu and the others about the replacement?" Pei Qinhu didn't care about these things, he only cared about his own business.

I lack ability, but I can also become the godfather of Chinese music.

Eat Qiandu, Ali's music library, and the benefits of the large membership system, Meow Music can really stabilize the head of a certain goose.

"What's the rush? It's not us who should be anxious." Pei Qianlong disagreed.

"The main reason is that Aunt Wang and the others are also in contact with these two parties. If..." Pei Qinhu was about to cry.

It would be better if Ah Li didn't sell it easily.

The key is Qiandu.

If you have to choose the person you hate the most, it is absolutely impossible that it is the former old rival, a cat factory that has forced them to give up bidding rankings.

The kind that hates you to the core.

"You go and tell the people from Qiandu that if they dare to sell Leku to Aunt Wang, I will dig Lu Qi to the cat factory." Pei Qianlong thought for a while, but could not find a point that threatened Qiandu for a while.

The main reason is that I always pull Qiandu over and beat him this year.

The attack hurts people and they dare not move.

The only thing that can be thought of is Lu Qi, who was a new COO in January, who was once an executive of Yahoo and Microsoft.

The new COO graduated from Fudan University with a bachelor's degree in computer science and a master's degree. He then studied at Carnegie Mellon University with a doctorate in computer science.

In addition to publishing a series of high-quality research papers in the academic community, Dr. Lu Qi also holds more than 40 rice-fruit patents, covering multiple scientific and technological fields, including search, biometric technology, wireless transmission, etc.

In 2007, he was promoted to executive vice president of Yahoo and in 2013, he became global executive vice president of Microsoft Group.

In January this year, Lu Qi accepted Li Yanhong's invitation to take over almost all of Qiandu's business, and all executives will report to him directly.

Li Yanhong herself only accepted Lu Qi's report, which was equivalent to "retreating to the second line".

After taking office, President Lu Qi began to rectify his search business and directly announced the abolition of more than 200 medical divisions.

On the other hand, he also drastically cut off a lot of cumbersome business.

These include O2O things such as Qiandu Music, Qiandu Takeaway, and Pork Rice.

Although the high-revenue sectors such as bidding rankings were cut off, only artificial intelligence would be difficult to cash in for a while, the financial market bought it, so the stock price was rising slowly.

Pei Qianlong didn't know how to fight Qiandu.