FYN Chapter 168 Old Zhu Misses Out for the Third Time
Chapter 168 Old Zhu Misses Out for the Third Time
Chapter 168 Old Zhu Missed Out for the Third Time
The weather is nice today, sunny and breezy.
Geng Zhi, Chairman and CEO of Mingfan Technology, along with Tang Yan, the company's CEO, and Lü Siyu, the company's board secretary, boarded a flight from Shanghai Hongqiao Airport to Beijing International Airport.
Geng Zhi's itinerary was packed during this trip to the capital.
Meeting with CF0 and observing Renren.com's press conference, the most important goal was to finalize Mingfan Technology's Series B financing with several venture capital firms.
Since the most crucial financing negotiations were scheduled for the last two days of this trip to the capital, the personal lawyer, Gu Wanning, did not travel with Geng Zhi at this time.
At almost the same time, Li Dongping, a partner at Arctic Capital, along with Li Zhaohui and the finance and legal teams, boarded a flight from Hong Kong to Beijing International Airport.
Li Dongping's team had a lot on their itinerary during their trip to Beijing, the most important of which was their meeting with Lei Jun.
After Arctic Capital had dedicated legal and financial counsel, Gu Wanning gradually withdrew from Arctic Capital's daily negotiations, only participating in business at critical moments or when Mr. Charles Lin needed her.
Shortly after the two planes took off, the latest wave of press releases from Renren.com's product launch conference was already being widely disseminated.
Unlike previous teasers, this time all the headlines were bombshells, with each word more ferocious than the last:
Renren.com's "Private" Launch Event Countdown: Three Celebrities Will Do Something Big Using the App On-Site
Interview with Chen Yizhou: We won't be the next Momo, we'll be the first "private" platform.
Why does Renren.com, with 8000 million users, still need to implement "privacy" features? Chen Yizhou: Because users need a "safe" way to make friends.
On the eve of the launch of "Private": Chen Yizhou: We will not follow the example of some apps that started with "hookup"
Anyone with eyes can see that Chen Yizhou is openly targeting Momo, subtly belittling the straightforward Momo app in his words, showing a determination to win.
Since Momo suddenly appeared and became a hit, Renren.com, which boasts more than 8000 million users and is firmly ranked second in the social networking field, reacted with lightning speed and decisively embarked on the path of testing the waters on the mobile platform.
It must be said that Chen Yizhou's decisiveness is much more resolute than that of companies like Xinlang and Shanda, which are always dragging their feet.
After all, Renren.com, with its deep pockets, still holds over 200 million US dollars in cash reserves. It has a very strong financial foundation and is fully capable of spending money to seize market share.
After nearly three months of intensive research and development, and more than half a month of limited testing, the private app has met all the conditions for its official public beta launch.
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Renren.com's strategy this time is a typical high-profile, aggressive approach.
In terms of product features, the private app completely "borrows" Momo's chat, group chat, nearby people, interest groups and other functions pixel by pixel. The only difference is that it requires real-name registration, and the "nearby people" are not strangers, but people you know.
In terms of publicity, Renren.com benchmarked itself against Momo, becoming the second company in the industry, after Mingfan Technology, to hold a software product launch event.
Moreover, unlike Momo's initial approach of relying on word-of-mouth for natural growth with almost zero advertising, Renren.com, which is well-versed in market operations, directly adopted a "money power" model, spending money without hesitation.
Leveraging their extensive celebrity resources, they invited several popular stars, including Han Geng, JJ Lin, and Yang Mi, to support their press conference.
Han Geng is extremely popular among women born in the 80s and 90s, and is an absolute top-tier celebrity. JJ Lin is an idol for people of all ages born in the 80s and 90s.
Yang Mi is currently enjoying a surge in popularity. The Legend of Sword and Fairy 3 made her a household name across China, and she is also very active on Renren.com.
All of these strategies are aimed at crushing Momo and creating the impression that "Renren.com is the real big platform," attempting to surpass the Momo app in one fell swoop.
When Renren.com and major media outlets officially announced that three big stars and many small and medium-sized stars would attend the press conference, the entire public opinion field was in an uproar.
On Weibo, hashtags such as #RenrenPrivateLaunchEvent#, #HanGengLinJJYangMiOnSameStage#, and #PrivateAPP# quickly became trending topics. Discussions were rampant across various forums, online communities, and QQ groups.
"Wow! Renren.com really lives up to its name; they're ridiculously wealthy and powerful, managing to hire three top influencers at once!"
"This is some serious bravado! Everyone's on the front lines. I reckon Momo's in trouble this time; they've run into a tough opponent!"
"I have to tune in to the press conference live! Just for Yang Mi, I have to watch it!"
"To be honest, I've used the beta version of Private, and it doesn't feel much different from Momo, maybe even more complicated. The real-name registration system actually feels restrictive."
Beijing, the National Aquatics Center, Water Cube.
Renren.com Chairman and CEO Chen Yizhou is working intensively with his team to prepare for the launch of Renren.com.
The launch event for the "Private App".
"Mr. Chen, our press conference rehearsal went very smoothly, and the three celebrities cooperated very well. After the press conference, our private app is sure to be a hit," Cai Cai, Operations Director of Renren.com, reported.
Chen Yizhou nodded, glanced in Yang Mi's direction again, and then asked, "Is the media publicity all ready?"
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"Don't worry, Mr. Chen, everything is in order. From product design to launch preparation and post-launch publicity, we will completely crush Momo."
Cai Cai also turned to look at Yang Mi and continued, "Moreover, our [private] contains the joke of [private chat with Yang Mi], it's hard not to become popular."
Chen Yizhou's signature smile returned, and he gave the operations director a thumbs-up with satisfaction: "Good job! Immediately after the press conference, launch a large-scale online and offline campaign. Also, regarding Momo's promotional links on Renren.com, those that need to be banned should be banned."
"Understood! Everything is ready!" Cai Cai nodded emphatically.
At this moment, the female secretary came over with a bottle of NFC orange juice, opened it for Chen Yizhou, and handed it to him.
"Let's go back to the company." Chen Yizhou took the orange juice, took two sips, and turned to walk out.
He walked out of the Water Cube, got into the back seat of his car, and slowly drove towards the headquarters of Renren.com.
At this moment, Chen Yizhou felt more relaxed and at ease.
Nuomi.com, a group-buying website that recently launched, is performing very well, and now its private app launch event is also ready.
Everything went very smoothly, extremely smoothly.
He believes that the features that Momo APP currently has, private apps either already have or will soon be developed.
In terms of products, their own private app is no worse than the straightforward Momo app.
However, Momo does not have the [anonymous secret] feature that its own products have, and it cannot learn it even if it wants to.
After all, this is an anonymous social networking feature based on Renren.com's vast and real social network, and it requires real-name authentication.
Momo doesn't have the capability or the necessary background.
One is a private app representing purity, authenticity, and safety; the other is the Momo app, which is used by unregistered users and is referred to as a "hookup app."
It's obvious who will win and who will lose.
So what if you're an industry veteran? So what if you have a first-mover advantage?
That straightforward young man certainly has ideas and drive, but in business, it ultimately comes down to comprehensive abilities!
In terms of product, marketing, operations, and strategic synergy, Momo has no chance against Renren.
If the private app becomes a hit in the future, Renren's IPO will be much smoother, and its market value will surely reach a new level.
Chen Yizhou leaned back in his leather seat, closed his eyes, and the image of the New York Stock Exchange's bell tower came to mind.
He had already begun to imagine that exciting scene.
On the day they arrived in the capital, Geng Zhi gave the team a day off, and the team disbanded on the spot.
Tang Yan, whose home is in Beijing, went home to see his wife and children. Company secretary Lü Siyu went to visit the Forbidden City with an undergraduate classmate.
Geng Zhi himself took a taxi to the headquarters of Jinshajiang Venture Capital to visit Zhu Xiaohu.
Normally, if it were Momo's Series B funding round, the first firm Gengzhi would definitely visit would be Sequoia Capital.
However, Geng Zhi's visit to Jinshajiang Venture Capital this time was a purely private visit out of brotherly affection.
After all, Zhu Xiaohu has already invested in his rival, Weiju, so the probability of him betting on both sides again by investing in Momo is not high. Even if he wanted to invest, he wouldn't be willing to invest at a valuation of 2.5 million US dollars.
Traffic wasn't bad today, and Geng arrived at the Jinshajiang Venture Capital office building almost half an hour earlier than expected.
Without hesitation, Geng Zhi took the elevator all the way to the 12th floor and arrived at the Jinshajiang Venture Capital office.
As soon as he entered the company, he ran into Zhu Xiaohu's assistant, Kong Min, who was carrying a teapot to refill water.
"Oh, Mr. Geng, hello!" Kong Min greeted him warmly.
"Hello, Assistant Kong, it's been a long time!" Geng Zhi nodded in greeting. "I have an appointment with Senior Brother Zhu at 3 o'clock."
"Mr. Geng, I'm sorry to bother you, but please have a seat here for a while. Mr. Zhu is having a small meeting with his friends next door."
"It's alright, I'm just over twenty minutes early. I'll wait here. Assistant Kong, you can go ahead and get back to work," Geng Zhi said with a smile.
"Okay, then I'll go make tea for Mr. Geng."
"Assistant Kong, no need, I brought my own cup, it's full!" Geng Zhi said, taking his cup out of his bag.
Kong Min glanced at the generous amount of ingredients in Geng Zhi's glass, which appeared to contain goji berries, red dates, chrysanthemum, rock sugar, rose petals, and longan.
She frowned slightly and couldn't help but ask, "Mr. Geng, what's the purpose of this tea? It looks like there are quite a lot of ingredients."
"Oh, this is Lanshi Sanpaotai, a nourishing and health-preserving tea." Geng Zhi picked up the cup and brought it closer to show Kong Min.
"Only in your twenties and already focusing on health?" Kong Min blinked, offering no comment, and silently left the room to refill Zhu Xiaohu's water.
In Zhu Xiaohu's office sat two guests from Hong Kong: Li Dongping and Li Zhaohui from Arctic Capital.
Although Arctic Capital snatched the Ele.me Series A funding from Jinshajiang Venture Capital, the two capital firms subsequently developed a good working relationship in investing in the [Weiju] project.
Li Dongping and Zhu Xiaohu also became increasingly familiar with each other, and their relationship noticeably warmed up. Moreover, the two even agreed to vote together in the next round of Ele.me.
Arctic Capital is a newly established capital firm. Although it carries the name of an international capital firm, its reputation will ultimately be proven by its performance.
Among the projects that Arctic Capital has already invested in, Ele.me is far from being fully developed, and Kik is not yet online.
The only one that can be considered somewhat famous is Weiju, but Weiju is only just beginning to rise and is still some distance from becoming a major player.
Therefore, Arctic Capital needs to collaborate more with other capital firms, make some friends, and build its reputation in the process of co-investing in projects.
Li Dongping and Li Zhaohui's visit to Zhu Xiaohu this time was not only to discuss [Weiju] and [Ele.me], but also to try to get Zhu Xiaohu involved in investing in [Dami Technology].
The three first discussed the development and future plans of Weiju. Li Dongping then told Zhu Xiaohu about Ele.me's recent developments and sincerely invited Zhu Xiaohu to participate in its next round of investment. The conversation went very well.
Just when Zhu Xiaohu thought the chat was about to end, Li Dongping and Li Zhaohui suddenly started talking about Dami Technology again, and once they started, they couldn't stop.
The two Lis had a simple idea: first, to continue to strengthen their relationship through joint investments with GSR Ventures; and second, to diversify Arctic Capital's investment risks by bringing GSR Ventures into the fold.
Moreover, the latter is the primary objective.
Zhu Xiaohu was not interested in Dami Technology and had no confidence in it. Moreover, he had already arranged to meet Geng Zhi at three o'clock.
He was worried that Li Dongping would misunderstand and didn't want the two of them to meet, so he could only hint to Li Dongping and Li Zhaohui by looking at his watch.
But the two Lis deliberately ignored it and continued to promote their rice technology.
By this time, Li Zhaohui had already conducted a detailed analysis of the domestic and international smartphone markets, and had presented all the necessary plans to Zhu Xiaohu.
In fact, there were some pie-in-the-sky promises that even Li Zhaohui himself didn't believe, but that didn't stop him from drawing them for Zhu Xiaohu.
"Mr. Zhu, why don't you come with us and talk to Lei Jun? This direction is bound to explode in the future. You have to trust Zhaohui's expertise in the mobile phone field!" Li Dongping was still trying to persuade Zhu Xiaohu.
"Thank you both, Mr. Li, for your frank invitation," Zhu Xiaohu said with a smile as he poured tea for Li Dongping, "but I really don't understand the Dami Technology field, and it's not within the scope of our Jinshajiang Venture Capital. I dare not invest!"
"Mr. Zhu, you'll regret it if you don't get on the bus now," Li Zhaohui continued to urge him from the side.
Zhu Xiaohu laughed heartily: "Then you can only blame me, Zhu Xiaohu, for being blind. But to be honest, I really hope that the two Mr. Lis can bet on the right horse."
Li Dongping and Li Zhaohui exchanged a glance. Seeing that they could not persuade Zhu Xiaohu, they had no choice but to get up and politely take their leave.
Zhu Xiaohu and Kong Min saw them off.
The four of them walked out of Zhu Xiaohu's office chatting and laughing. Just as they were about to leave, they bumped into Geng Zhi, who happened to be coming out of the next-door meeting room.
His honest eyes met four pairs of eyes, and he was slightly surprised.
So the "friends" Kong Min mentioned were Li Dongping and Li Zhaohui.
Geng Zhi knew that Li Dongping and his group had come to the capital to discuss cooperation with Lei Jun, but he didn't know they had come to see Zhu Xiaohu.
"President Geng?"
Li Zhaohui didn't know Geng Zhi, but Li Dongping recognized him at a glance.
His expression changed in an instant—from surprise to confusion, and from confusion to alertness.
"Oh, this is President Li! It's a pleasure to meet you!" Geng Zhi smiled and stepped forward, shaking hands with Li Dongping in a friendly and natural manner.
Li Dongping mechanically shook hands with Geng Zhi, his expression quite interesting.
His eyes swept back and forth between Zhu Xiaohu and Geng Zhi's faces, trying to assess the information before him.