I want to be a chaebol

On March 26, 130 Internet practitioners signed the "China Internet Self-Discipline Convention" at the Yanjing Great Hall. Song Yi attended the signing ceremony.

Almost all of the mainland’s Internet tycoons were present, and Song Yi also saw many familiar faces, including Brother Penguin, Mr. Ali Ma, Baidu’s Director Li, NetEase’s Ding Sanshi, and Kingsoft’s Rebus. etc.

The founders of Internet companies are all quite young. Xiao Ma Ge and Ding Sanshi were both born in 1971, and Rebus and Director Li are also of the same age. Director Li and Brother Xiao Ma are both from technical backgrounds, so they can talk reasonably well together.

Song Yi doesn't understand technology, but he understands the development trends of Internet products. Of course, Xiao Ma will not neglect Song Yi, the major shareholder, and take the initiative to talk to him.

Brother Xiao Ma said to Song Yi: "I have researched the product inschool, and I found that it is somewhat similar to CYworld, another Korean website. After inschool was launched, CYworld launched a "mini nest" online personal space. I have also recently I’m considering launching a similar online community.”

When Song Yi heard what Brother Xiao Ma said, he still admired Brother Xiao Ma's keen insight. MySpace was launched in 2003, and Facebook was launched in 2004. The rise of these two major social networking sites made Xiao Ma pay more attention to the penguin dating function.

The Penguin Strategic Development Department wanted to launch a new social product. At that time, Penguin had two research and development directions, one was blogging and the other was CYworld. Finally, the Penguin team created a platform for self-expression and interaction with others. It combines the advantages of blogging and Saiwo.com, but is different. This platform is the famous Penguin Space.

Thinking of this, Song Yi decided to give Brother Xiao Ma some tips, "The biggest function of Penguin is its social nature. We can learn about each other's latest developments through real-time chat."

"So for my Penguin friend who I haven't contacted for a long time, I want to know his/her updates, so Penguin can actually give users an online space to display the latest updates." Song Yi said.

"Online space? It's like the homepage of inschool?" Brother Xiao asked.

"No, no, no, inschool and Penguin are fundamentally different. As you said, just like CYworld's 'Mini Nest', you can also create a user-specific space where users can post and comment. , tell your friends what new things he/she encountered today, and you can also upload their personal photos to the space. Don’t computers in Internet cafes now have cameras? You can take photos through the camera and upload them to the space." Song Yi said.

Xiao Ma Ge suddenly had an idea, "Users can also comment under their updates and photos, just like real-time interactive chat."

"This online space is like users' houses on the Internet. Since it is a house, we can decorate the house more beautifully and provide different decoration plans. Maybe some users are willing to pay to choose a more beautiful space template." Xiao Ma Brother's mind was completely open, and he felt more and more that there was something going on in this matter.

Penguin is now very proud of itself. On November 10, 2001, China Mobile launched the "Moneternet" plan, taking the lead in piloting it in Pengcheng Mobile.

SP value-added business allowed Penguin's financial statements to achieve breakeven in a single month for the first time at the end of 2001. At the end of 2001, Penguin's revenue was close to 50 million yuan and its net profit exceeded 10 million yuan. Penguin also became one of the first profitable Internet companies.

At this time, almost all Internet companies relied on the operators' SP business to survive. Portal SP is the SMS service provided by the portal website. At that time, there were mainly Sohu, Sina, NetEase, China.com and Tom.

Their SMS services include ringtones, pictures, dating, news, games, etc. These companies are constantly adding new materials. This kind of romantic dating title looks very tempting, but in fact it has no real content. When you get into it, I'm sorry, but the few dollars spent are just gone.

Penguin is a specialized SP company. Penguin is different from other SMS service providers in that they only focus on derivative SMS with monopoly advantages. Your penguin friend sent you a message, and you received a text message. You wanted to see the content of your penguin friend's message, so you clicked on it.

Song Yi also envies Penguin's good luck. From 2002 to 2004, the SP business will continue to flourish in these two years, and Penguin will still have a few good years. SP companies with outstanding performance in the next two years, such as Kongzong.com and Linktone, will be listed on Nasdaq.

When Song Yi envies Xiao Ma, Xiao Ma envies Song Yi even more. 50 million in revenue seems quite a lot. The single-month revenue of "Legend of Hot Blood" in February was more than 50 million. Currently, Penguin is just a younger brother in front of Xinya .

Some game media estimate that the revenue of "Legend of Blood" in February has exceeded 100 million. However, New Asia Network is not a listed company, so the media are only guessing.

Xiao Ma plans to take the other founders of the company to the United States this year to visit the E3 video game exhibition. However, Penguin’s current foundation is not stable, and it remains to be considered which one of the game business and online space business will be developed first. Maybe he can also try the waters by first agenting an online game like New Asia Network.

Although "Legend of Hot Blood" is profitable, Song Yi is not without his worries. In March, a large-scale border copying equipment incident occurred in "Legend of Hot Blood".

When players enter Alliance City from Viper Valley, they can quickly trade their equipment to friends to achieve the effect of copying equipment. Xinya Network immediately improved this BUG.

However, a savvy player immediately discovered a new BUG: He first logged in to a computer to log in to "Legend of Hot Blood". The moment the game character entered Mengzhong City, he immediately logged in to the game character on the nearby computer. At this time, a copy of the game character would be copied to Mengzhong Continent. Exactly the same game character.

Since copied equipment is different from equipment spawned in the game, the equipment you spawn from a copy has a brand new backend ID, which is legal by default by the system.

The ID of the copied equipment is exactly the same as that of the old equipment, so when the server is restarted, the copied equipment disappears instantly. Some players purchase copied equipment without knowing it and suffer considerable losses.

They told the official "Legend of Hot Blood" about this situation. Li Yu suggested that Song Yi declare "Legend of Hot Blood" free for one week to make up for the players' losses. Song Yi did not agree to this solution.

Someone is obviously using game loopholes to commit fraud, but the official announced a free week to retain players. Isn't this solution a typical Hexini? Song Yi increasingly felt that it was urgent to crack down on illegal cheats in "Legend of Hot Blood" and the studios that profit from cheats.

"Legend of Hot Blood" contacted players who purchased copied equipment, and Xinya Network compensated the players for their losses and issued higher-level equipment. Game IDs that sell copied equipment will all be banned.

A gamer complained in the 17173 game forum, saying that he and his friends were actually sharing game accounts and that he had no knowledge of the sale of copied equipment. Now that the official has banned his account, it is really hard for him to accept.

There are also many players who share game accounts in "Legend of Hot Blood". For example, I go online during the day and you go online at night. I go online from Monday to Friday and you go online on Saturday and Sunday. Moreover, Xinya’s game points are not cheap, and shared accounts also reduce game costs.

Song Yi originally wanted to realize the real-name system in the game in advance, but he still did not do this to stand out. The real-name system for mainland games was only officially implemented in 2012. If New Asia launches a real-name system for games now, it will only push game users to other companies.

The revenue from the game "Legend of Hot Blood" accounts for 40% of the online game market, but New Asia cannot rest easy. NetEase launched the online game "Westward Journey 2" this year, and Shanda's "Paradise" is still working hard to expand its users.

Regardless of Song Yi’s investment in Penguin and NetEase, Penguin and NetEase will sooner or later become New Asia’s biggest competitors in the mainland game market. Not surprisingly, Penguin has entered the game market since 2003 and has gradually grown into the king of social + games.

Song Yi and Brother Ma were chatting happily here, and Ali’s teacher Ma came over. Brother Ma and Teacher Ma have known each other for a long time, and he introduced Song Yi to Teacher Ma.

With a smile on his face, Teacher Ma took the initiative to hold Song Yi's hands and did not let go for a long time. "It turns out to be Mr. Song from Xinya. I have admired his name for a long time. I am honored to meet you."

Song Yi is more willing to deal with Brother Ma than Teacher Ma. Song Yi's attitude is more enthusiastic, "Teacher Ma, in the Internet industry, you are our big brother. I still have a lot to learn from you."

Teacher Ma's eyes lit up. He had always been called Mr. Ma. This was the first time he was called Teacher Ma. It sounded very pleasant to him. After graduating from school, Mr. Ma worked as a teacher at Hangcheng Electronic Industry College for six years before leaving school to start his own business.

Song Yi said that his father was a university professor, so he was very kind to the teacher when he saw him. Teacher Ma's smile became even wider, and he revealed his purpose. He came to invite Song Yi and Xiao Ma to participate in the third West Lake Sword Competition.

In September 2000, Teacher Ma teamed up with Jin Yong to post a hero post, inviting Internet entrepreneurs to the West Lake to have tea and sword discussions. The first star entrepreneurs include Sina Wang Zhidong, Sohu Zhang Chaoyang, NetEase's Ding Sanshi and 8848 e-commerce network's Wang Juntao.

As a result, 8848 went bankrupt last year, and Sina founder Wang Zhidong was kicked out of the company by the board of directors due to poor performance. To be honest, Song Yi didn't really want to participate in this West Lake sword debate. However, Song Yi is also greedy for Alibaba's shares, so he has been making excuses with Teacher Ma.

When Teacher Ma learned that Song Yi had already invested in Penguin, NetEase and Hikvision in the mainland and was also a well-known angel investor, his attitude towards Song Yi became even more enthusiastic and he wished he could lure Song Yi over now. As a guest in Hangzhou, visit Alibaba Group.

Alibaba has now completed Series A financing and Series B financing. In Series B financing, Masayoshi Son invested US$20 million in Alibaba. In the following 19 years, Masayoshi Son has always stood together with Teacher Ma.

Taobao went online in 2003, and in February 2004, Alibaba received US$102 million in Series C financing, led by SoftBank. In December 2004, Alibaba raised another US$82 million in financing, and SoftBank invested US$60 million.

In August 2005, Teacher Ma waited for his third noble person, Yahoo founder Yang Zhiyuan. Yahoo invested US$1 billion and handed over Yahoo's Chinese business to Alibaba in exchange for 40% of Alibaba's shares.

Now Alibaba has just survived the Internet winter of 2001, and no one of the mainland Internet companies is as rich as New Asia Network. In Mr. Ma's view, "Legend of Hot Blood" is a money printing machine.

Now Teacher Ma and Song Yi are in love with each other, and they are interested in concubine. It can be said that they hit it off. The reason why Alibaba was able to defeat eaby and eBay is that Taobao adheres to the free strategy.

Without Yahoo's $1 billion, it would be difficult for Taobao to implement its free strategy and grow into the world's largest e-commerce platform.

Taobao is a C2C model, and JD.com is a B2C model. The former mainly serves individual sellers, while the latter mainly operates the platform’s self-operated business. Jingdong Mall was established in January 2004. In the next two years, the two major e-commerce giants in the mainland will begin to change the shopping philosophy of all Chinese people.

Song Yi has no intention of setting up a shopping website in the mainland to compete with Taobao and JD.com, but he has no intention of giving up on such a big thing as e-commerce.

New Asia Network Co., Ltd. is also developing an electronic shopping website. This website is called Sohan Network and its domain name is

Soukor.com, as the name suggests, you can search for any Korean products on this website and then place an order online.

The first batch of products listed on Sohan.com include cosmetics, food, clothing and electronic products. New Asia Network Co., Ltd. has purchased land in eight places: Seoul, Incheon, Chuncheon, Daejeon, Gwangju, Daegu, Busan and Jeju, and will build smart logistics centers in these places in the future.

South Korea has a land area of ​​only 100,000 square kilometers, which is equivalent to the area of ​​Jiangsu Province. These eight logistics centers can already deliver goods from Sohan.com’s self-operated warehouses to 95% of Koreans.

In 2021, Jiangsu Province's online retail sales exceeded 1 trillion yuan, and JD.com's total revenue in 2022 also exceeded 1 trillion yuan. Jiangsu Province's per capita GDP exceeded US$20,000 in 2022, reaching the level of developed countries.

If Jiangsu Province is used as a reference, if Sohan.com can become the largest electronic shopping platform in South Korea, its annual revenue will be at least 100 trillion won, or about 600 billion yuan. After all, Jiangsu Province has a population of 85 million, while South Korea only has a population of 50 million.

South Korea's large conglomerates monopolize South Korea's food, clothing, housing and transportation. Sohan.com can serve more small and medium-sized businesses and break the monopoly of the chaebols.

The reason why Song Yi has been committed to strengthening New Asia Media is because New Asia Media will directly affect Sohan.com. His mid-term goal is for New Asia Media to surpass CJ Entertainment and become the largest media group in South Korea.

Just imagine, when the same clothing, food, cosmetics or electronic products that appear in movies, TV series, games, and animations produced by New Asia Media appear on Sohan.com, will you have the urge to place an order online?

For example, Jun Ji Hyun's lipstick in "My Love from the Star", Lee Bo Na's jacket in "The Successor" and so on.

According to the schedule, "Dae Jang Geum" will be finished by the end of 2002, and "Dae Jang Geum" will be a big hit in Asia in 2003. Sohan.com will be online by then. Sohan.com should be online at about the same time as Taobao. Sohan.com has four versions: Chinese, English, Korean and Japanese. The overseas markets of Sohan.com are mainly China, Japan and Southeast Asian countries. As for the huge South Asian market, the New Asia series simply gave up, and whoever likes to play can play.

If New Asia Network holds the two powerful tools of Sohan.com + inschool, it will be equivalent to unifying South Korea's social + e-commerce market. New Asia Network is equivalent to South Korea's Penguin + Alibaba.

If Sohan.com can indeed help millions of individual businesses in South Korea, then millions of individual businesses also mean millions of votes. If one day Song Yi wants to abandon business and join politics, his approval rate may be higher than that of his cousin Zhou Meng. After all, apart from his continuous scandals, Song Yi has no shortcomings.

Since he planned to develop e-commerce and now had a ready-made teacher, Song Yi naturally humbly asked Teacher Ma for advice, and the two of them also discussed why the e-commerce website 8848 is now in bankruptcy.

Since June 2001, the my8848 website has been in arrears with suppliers. In September, it began to receive advance payments but failed to deliver goods. More than 200 suppliers were owed money by the company. On September 20, the court sealed the website my8848. China’s earliest and most famous e-commerce website fell into bankruptcy.

Teacher Ma believes that when 8848 was established, the equity was very chaotic, and a company in Pengcheng, the largest shareholder, never showed up. There was no way to coordinate the relationship between the shareholders, and the registered capital was not in place until the court sealed it.

In order to cater to capital and pursue financing, 8848 deliberately pursues sales and enlarges GMV data. This company has been blindly pursuing expansion. As a result, the higher the sales, the lower the gross profit. In the initial stage, it did not calculate costs, so the more sales it made, the more losses it suffered.

Song Yi thought that JD.com had been losing money when doing equity financing, but its losses were deliberately controlled by Dong Ge. The low profit margin actually helped JD.com grow rapidly. JD.com suffered losses for more than ten years from its establishment to its listing. Without the continuous blood transfusion of today's capital, JD.com may not be able to survive until the day it goes public.

In addition to the shopping website, Song Yi is also planning to develop Sohan.com into a travel e-commerce website, similar to Ctrip. Tourists can book hotels, concert tickets, tourist attraction tickets, KTX train tickets, and transfer to taxis in advance through Sohan.com.

If Song Yi wants to realize this idea, then New Asia Department must increase its investment in major Korean entertainment companies, and first become a major shareholder of SM Entertainment.

In this way, tourists can purchase SM Entertainment artist concert tickets, physical albums, celebrity peripherals, etc. on Sohan.com. Of course, in addition to SM Entertainment, Song Yi also plans to invest in JYP Entertainment and YG Entertainment at the same time.

Before Girls' Generation debuted, the first girl group to become popular in Asia was JYP's Wonder Girls. Their famous song "Nobody" was very brainwashing.

However, if New Asia becomes a major shareholder of SM Entertainment, it will be more difficult to invest in JYP Entertainment and YG Entertainment.

Song Yi plans to purchase 5%-10% of the shares of JYP Entertainment and YG Entertainment this year. He must first ensure that all artists from SM Entertainment, JYP Entertainment and YG Entertainment are registered in inschool, especially Park Jin Young from JYP. Among the bosses of the three major entertainment companies, Park Jin Young has always been very popular. He actually has the potential to become one of the earliest Internet experts in South Korea.

Imagine if a foreign tourist watched a Korean drama produced by New Asia Pictures at home and had the idea of ​​​​traveling to South Korea.

So she bought a Korean Air ticket through Sohan.com and applied for the visa online. After she landed, she went directly to the hotel to check in through the taxi she called through Sohan.com.

She booked tickets for South Korea's Gyeongbokgung Palace and other attractions on Sohan.com, and bought tickets for TVXQ's concert on Sohan.com. When she wants to buy some celebrity peripherals or albums as souvenirs, she can still choose to search the Korean website.

When she is ready to return to China, she wants to buy some Korean cosmetics, Korean ginseng and Korean clothing when she returns home. Sohan.com will still thoughtfully help her pack all the gifts and then express them back to her country. By the time she got home, the gifts had almost arrived with her.

Sohan.com provides one-stop travel services to foreign tourists. After this travel experience, Song Yi believes that this tourist must believe that Sohan.com can buy any Korean products.

If the upper limit of Sohan.com’s revenue in the Korean market is 600 billion yuan, and if Korean culture can sweep across Asia, then the upper limit of Sohan.com’s overseas market revenue target will be almost 400 billion yuan. 600 billion + 400 billion, the size of Sohan.com can almost equal that of mainland e-commerce giant JD.com

See you tomorrow