Rebirth 2010: I taught Mr. Lei how to make a mobile phone

Chapter 297 Zhou Shouzi's Investment Analysis Report
"Hello, fellow Higan students!
I am very pleased to inform you that Zhou Shouzi has officially joined Bi'an today as the company's vice president and CFO, taking full responsibility for Bi'an's financial-related businesses and Bi'an Venture Capital Fund. The former Bi'an Financial Director Lu XX will report to Zhou Shouzi, who will then report directly to me.

I have known Zhou Shouzi for many years. He is an outstanding financial talent with a high reputation in the global financial community. He was the head of DST China and led and was responsible for many well-known investment cases, such as JD.com, Alibaba, Xiaomi and other companies. Blah blah blah.
I believe that Zhou Shouzi's joining will greatly enhance the development of Bi'an Barala
Zhou Shouzi will assist me and work with all our strength to transform Bi'an from a new startup in the Internet era into a high-tech company with global influence!

Please join me in welcoming Zhou Shouzi to join us! We look forward to him and all of us contributing to the beautiful future of the other side!

Chen Mo

The joining of a capable executive will boost the morale of all employees, which is a reflection of the company's growing strength and popular support.

However, according to the law of conservation of energy, when someone laughs, someone else will cry.

When Yuri Milner, who was far away in the United States, saw the resignation letter submitted by Zhou Shouzi, he did not cry. He was just a person in charge and had seen all kinds of storms. He just felt a little upset.

He wanted Chen Mo to talk to Zhou Shouzi about DST's investment in Bian'an, to lay the groundwork in advance.

Unexpectedly, the people had already been invested before the money was invested.

You should know that among the Internet companies most favored by capital in China today, Bi'an Technology is number one, and no one dares to say it is second.

Now, all kinds of data of Bi'an Technology have been almost stripped away by those in their financial circles, and some of the information that has been made public is no longer a secret.

When it was first established in 2010, there were only two people, Chen Mo and Sun Ziwei. They set up two websites for fun and sold them for 6 million yuan. This accelerated the arrival of the Thousand Group War to a certain extent, and then they died down.

In 2011, Chen Mo and the startup team separated WeChat from Xiaomi and began to focus on Bi'an Technology. They started to fight monsters and upgrade all the way. However, the speed broke everyone's cognition and made these capital giants doubt whether the knowledge they had learned before was false.

Especially under the siege of a number of giants led by Tencent, WeChat has drifted along the drainage channel and is far ahead, and the radiation mobile game has begun to gain momentum, with revenue of nearly 10 billion in just one year.

In one year, the revenue is 10 billion. Although it is RMB, when did money become so easy to make?
This changed the minds of investors who were originally pessimistic about Bi'an and thought it would be crushed by Tencent. They all waved their money to invest, but ended up getting rejected. His DST was one of them.

This year, they even launched a global server for some game, and their revenue exploded.

According to their DST professional forecast, Bi'an Technology's revenue in the first quarter of this year is close to the entire year of last year.

The industry's repeatedly raised valuations have proven to be still underestimated.

The current valuation of Bi'an Technology is approaching the 200 billion US dollar mark, which also indirectly proves this point.

But on the other hand, after all, he and Zhou Shouzi have a close relationship. If Bian'an wants to raise funds in the future, DST will definitely be the first tier.

Yuri Milner felt better after thinking this, but his personal favorability towards Chen Mo was still -10.
After Zhou Shouzi joined the company, he gradually got to know the team and the business after a few days of familiarity, and gradually got into the groove, with a very strong ability to adapt.

On a weekend in mid-April, Chen Mo organized a team-building event for the other side's senior executives. They didn't travel too far, but instead went to a beautiful villa in the suburbs, where they enjoyed a one-stop service for food, drink, and entertainment. It had everything they needed, and they enjoyed a high-end experience.

It depends on how you use alcohol. Sometimes it is an essential weapon in business situations, and sometimes it is a catalyst for enhancing friendships between men.

Even the most introverted people will become more open when chatting with others after getting tipsy.

Let's take this opportunity to get to know each other and deepen our relationship!
In the subsequent work, these people are the heads of various business lines of Bi'an and are the core team members of Bi'an. They will cooperate and have contact with each other.

This is also the significance of Chen Mo organizing this party.

Happy times are always short. The members of the Bi'an executive team spent an unforgettable weekend and then returned to their respective posts in high spirits.

On the first day at work, Chen Mo gave Zhou Shouzi a task, which was to examine the investment value analysis of the three areas of China's Internet group buying, food delivery and video, and to screen the list of investable ones.

Chen Mo did not give a time requirement. When he expected that it would take a week to get the results, Zhou Shouzi opened the door of his office in less than three days and submitted his analysis report.

"Sit anywhere, what would you like to drink?" Chen Mo stood up and opened his small refrigerator, which was filled with a wide variety of drinks and snacks, it could be called an arsenal of snacks.

"Just water, thank you~"

Chen Mo handed him a bottle of mineral water, opened a can of Coke, picked up the report on the table and started reading it while drinking.

Analysis of group buying market:
After nearly three years of development, group buying has entered its later stage. The number of group buying websites has dropped sharply from more than 3 at its peak to 5000.

According to data from Analysys International, there are only seven independent group buying websites with an average monthly transaction volume of more than 7 million yuan, and only five group buying websites with an average monthly transaction volume of more than 5 million yuan. The group buying industry has entered the "Spring and Autumn Five Hegemons" stage.

That is, Meituan, Dianping, Nuomi, Lashou and Wowo. Tencent's Gaopeng has been left behind. Although some other group buying sites have survived, they will not last long based on data trend analysis.

Meituan is backed by Alibaba and Shunwei. Dianping has always been led by Sequoia Capital.

Nuomi was acquired by Baidu from Oak Pacific.

Lashou.com raised US$1.1 million in its Series C round of financing from investors including Sequoia, DST, and CDH Investments.

WoWotuan raised US$2 million in its Series D round of financing, with Goldman Sachs behind it.

There is a large amount of capital involved behind these five companies, and Lashou and WoWo are aiming to go public.

The opportunity has been missed, and it is not recommended for Bi'an to enter the market at this time. "

Well, it’s true. The cake has been almost divided now, except for Shunwei’s investment last year, which is fine.

Chen Mo continued to watch.

Video field:
After seven years of development, video websites have gone from having hundreds of them to only a few left, which is also a pattern of survival of the fittest.

The key node was that in 2008, the "Information Network Audiovisual Program Transmission License" of the Radio, Film and Television quickly eliminated nearly 90% of video websites.

截至目前，根据易观智库的数据显示市场份额排名前五的分别是：1、优酷网；2、土豆网；3、酷六网；4、搜狐视频；5、爱奇艺。

According to personal internal channels, the merger of Tudou and Youku will be completed in the second half of the year and will be announced to the public.

Ku6.com has limited potential, Sohu is suffering from talent loss and lack of self-control and is on the decline, and iQiyi does not see any obvious opportunities to make a breakthrough.

If a company wants to make a breakthrough in the video field, there are only two ways. One is to spend a lot of money, but the investment is high but the return is small, and video websites have been in the stage of burning money in recent years, so it is not recommended.

The other way, which I personally recommend, is to invest in several potential video websites, find a new way, and make a big profit with a small investment.

After observing for the past few days, I recommend investing in: AcFun and Bilibili. These are two-dimensional barrage websites that have emerged in the past two years. This type of barrage format, in particular, may become a breakthrough, and the two-dimensional audience has a very high user stickiness.

The most important point is that this user group is composed of young people, and it is easy to form linkage with the other side’s game business.”

After reading the report, Chen Mo was quite impressed by the merger of Youku and Tudou. He then had a chat with Zhou Shouzi and got to know the ins and outs of some of the inside information.

Don’t be fooled by the report that last week’s funding stated that it was a merger. This is probably an understatement. For Youku, which has a market value of US$28 billion, Tudou’s market value is only US$4 million, a difference of 7 times. It would be more appropriate to say that the former acquired the latter.

In fact, during the period from 2005 to 2010, although there were many stars among China's video websites, the top two spots were firmly held by Youku and Tudou. The gap between the two was not as exaggerated as it was later. Whether it was traffic, users or revenue, the difference was only in single digits.

Ten years later, the country began to crack down on piracy, copyright awareness began to awaken, and video websites were spending money to buy copyrights. At the same time, Youku and Tudou applied for listing almost at the same time, but the choice of listing locations was different. Youku chose the New York Stock Exchange and Tudou chose Nasdaq.

At that time, there was basically a consensus in the industry that whoever went public first would become the undisputed leader among domestic video websites, and there was a high probability that they would swallow up the other party after going public.

Although in the end it was Youku that swallowed up Tudou, the top executives of the two companies and the capital behind them tried their best to speed up the listing process, as they understood that they were racing against money.

At this critical moment, Tudou.com ran into problems. To be more precise, the boss of Tudou.com ran into problems.

Wang Hui, the boss of Tudou, met a beautiful host of Dragon TV at a party in Shanghai in 06. They fell in love and got married a year later. Before marriage, Wang Hui made himself an amateur with no assets in his name. A year later, they divorced. The woman got nothing in return and was kicked out of the house.

Originally, this matter had long been forgotten in the dust of history. Unexpectedly, when Tudou was listed in the United States, the woman suddenly turned against him and filed a lawsuit, demanding the division of 38% of Tudou's shares, on the grounds that this part was the common property of the couple. The court then froze this part of the company's shares for preservation and prohibited transfer.

The news was immediately passed to the U.S. Securities and Exchange Commission, resulting in the potato listing application being forced to be delayed.

A few days later, Youku, a competitor, became the world's first video website to be independently listed in the United States. Its stock price soared 160% on the first day, and its market value once exceeded US$30 billion.

Later, the woman told the media that she did not do it on purpose, but just listened to her lawyer, who said that suing at that time was the best time for her. Of course, this was just a lie to deceive the child.

It's like agreeing to solo in the top lane, and when both sides are low on health, a full-health enemy jungler happens to emerge from the bushes, uses a set of unreasonable combos to knock you out, and then says nonchalantly, "Oh, I was just using my skill to kill a small soldier, why are you lying on the ground?"

Later, some investors and founders signed a treaty to ensure that there would be no problems in the relationship between the couple in order to protect their own rights. This interesting treaty was called the "Potato Treaty".

Chen Mo didn't expect this after hearing this. His first reaction was that his decision not to get married was damn wise.

What is the difference between having descendants and not having descendants? Before I die, I will try my best to change some things.

After I die, I won’t care about the flood!
(End of this chapter)