My Fintech Empire

The merger and acquisition of Toutiao went smoothly, mainly because the shareholders who settled Toutiao went smoothly. In addition, when Wu Cheng led a delegation to acquire Toutiao, he took the "Three Questions" given to him by Fang Hong and told Mr. Zhang straight to the point that he had indeed broken the bank. Don't fall off.

Based on this, other investment institutions in the Toutiao family put pressure on him. Mr. Zhang knew that Toutiao could no longer be retained, so he had no choice but to sell it unwillingly. He had no choice but to take the money and leave. This was a complete exit, and he no longer owned Toutiao. One share of equity.

At this time, Qiu Guangcheng looked at Fang Hong and couldn't help but said: "How can Toutiao predict that it will be worth trillions in the future?"

Fang Hong said lightly: "Trillions worth is not something you say, it's something you do. Toutiao occupies a good track, so we bought it. In fact, we can do it ourselves, but why spend six or seven Do you want to buy it?"

Wu Cheng thought for a moment, then looked at Fang Hong and said, "Do you think Toutiao may be a strong competitor on this track? Buying Toutiao is tantamount to strangling a potential future strong competitor in the cradle. middle."

Fang Hong immediately said: "That's right. Sixty-seven billion can eliminate one of the biggest potential competitors. This deal is worth it."

Toutiao has a first-mover advantage, and Qunxing Capital has set up a team to set up a competing product to compete with it. Although it is confident that it can win, it will burn more than six to seven billion in money.

Directly merging it into its own company not only eliminates a strong competitor, but also the first-mover advantage originally possessed by a competitor has become its own first-mover advantage. New competitors that emerge later will not only need first-mover advantages, but also funds. The strength cannot be compared.

After a while, Fang Hong said immediately: "Since Toutiao has become a subsidiary of Qunxing, we have to do two things. The first thing is to offline the product 'Neihan Duanzi', abolish this department, and transfer personnel to other product departments.”

Both of them were stunned, and Wu Cheng said: "Just turn off Neihan Duanzi?"

Fang Hong nodded and emphasized succinctly: "And it is permanently closed."

Neither of them thought that after Big Boss bought Toutiao, it would immediately ax the product "Neihan Duanzi". Among Toutiao's many products, Neihan Duanzi was considered a heavyweight product that developed rapidly, and in the early days Also attract traffic to headlines.

Qiu Guangcheng thought for a while and said: "I agree, it would be good to shut it down. In my opinion, even if we don't use the knife ourselves, sooner or later the Yamen's knife will come down. Now we have to cut it down." It’s also insignificant.”

The ultimate big boss and the rotating chairman all said so. Wu Cheng knew that Neihan Duanzi had been sentenced to death.

Fang Hong seemed to be talking to himself: "To make a good product, don't forget the original intention of the product. Many products are completely profit-centered and forget the original intention of the product. It's not that they don't seek profit, but that The original intention is in the front, and the benefits are behind. If you don’t forget the original intention, the benefits will follow.”

Fang Hong looked at the two people and added: "For example, this connotation joke was originally based on happiness. It was developing very well before, but now it has become more and more stale and will not last long. Lao Qiu is right, we don't With this cut, the Yamen's knife will also fall."

After a while, Wu Cheng looked at Fang Hong and said, "What about the second thing?"

Fang Hong smiled and said: "Neihan Duanzi is Toutiao's heavyweight short video product. If it is axed, a substitute must be available. What do you think of the short video track?"

Upon hearing the big boss's question, Wu Cheng answered succinctly without thinking too much: "There is a lot to do."

After hearing this, Fang Hongyan said concisely and comprehensively: "Expand your story."

Wu Cheng immediately answered in an orderly manner: "First, young people are leading the trend; second, video is the general trend; third, making money is a long-term solution."

Fang Hong: "Go on."

Wu Cheng nodded and said thoughtfully: "First, young people are leading the trend. You said that the foundation of Internet products lies in whether they can capture young people. Looking back at the development process of the Internet, the earliest domestic Internet form was nothing more than BBS. In the two forms of blogging and blogging, the mainstream user groups at that time were young people, and then after young people entered society, various webmasters and companies began to build websites.”

"Wang Xing created the Xiaonei Network in China in 2005, and later this product was upgraded to Renren. After three years of development, by 2008, basically all college students were using the Xiaonei Network product. Also in 2008 In 2009, when you were still a student at Xincheng University, you started Weibo with Mr. Xu and others, and you were also a young person. Until now, Weibo has become a phenomenon-level product for everyone."

"Based on this set of growth process analysis, if you want to tap a new traffic depression and hot products, then just look for what mainstream young people are playing. The products that young people play during college will be After they enter society, these products often set off a nationwide trend, and young people have been leading the trend of the Internet."

Fang Hong turned to Qiu Guangcheng and smiled: "That's why I asked Lao Wu to lead a group to acquire Toutiao."

After smiling, Fang Hong turned to look at Wu Cheng: "That's good, let's listen to the second part."

Wu Chengjin analyzed: "Secondly, as a media form, video is currently the most advanced media form, because video is the most efficient when transmitting information."

Qiu Guangcheng, who was standing next to him, said casually: "Since video is such an advanced media form, why didn't it become a mainstream information dissemination media form in the early days of the Internet?"

Wu Cheng said with a smile: "In the past, until about 2010, the mainstream information on the Internet was still presented on the PC side. At that time, the experience of mobile phones was not good. On the one hand, mobile phone data charges were very expensive. aspect."

"It wasn't until around 2010 that Xingyu Technology's STAR series of smartphones came out, which solved the problem of poor mobile phone experience. Then in 2012, the data rates for mobile phones were reduced, and then after products like Dawang Card appeared this year, watching videos on mobile phones was no longer possible. It’s possible.”

Qiu Guangcheng asked again: "Then the question is, why did products like Dawang Card appear this year? Watching videos on mobile phones is becoming more and more common. Why are there no national phenomenon-level APP products like WeChat and Yixing Video in the short video field? Woolen cloth?"

Fang Hong, who was sitting with his legs crossed, didn't say anything. He glanced at Qiu Guangcheng and then looked at Wu Cheng.

At this time, Wu Cheng said: "That involves the third point I want to talk about. This has to be said about Yixing Video. When Hou Junda's team took over Yixing Video and just started to gain momentum, it soon became We have launched strong subsidies for UP owners, while helping high-quality creators provide multiple ways to quickly monetize.”

Wu Cheng continued: "You think, when any independent creator can monetize through the various methods provided by Yixing Video, it will begin to achieve a crazy growth momentum of 100 million a year, because only when the creator makes money In the future, he will be more active in contributing more and better content, which is a positive incentive, so short videos should also learn from Yixing Video."

"Making money is very important for creators. A key factor in whether we can succeed in making short videos is whether we do well in helping creators make money. This will be The key to determining the success of this product.”

At this moment, Fang Hong suddenly said cheerfully: "That's well said. It speaks to my heart. I can only count the number of people in our galaxy who understand the Internet better than Lao Wu."

Fang Hong turned to look at Wu Cheng and said: "Since Lao Wu bought Toutiao and you have such an understanding of the Internet, it is only appropriate for you to take charge of this business sector. If you leave it to others, will Toutiao be able to do so in the future?" Achieving a scale of several hundred million is a question mark, but I believe it will come naturally if I leave it to you. Your understanding of Toutiao is no worse than its founder, and it must be you."

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