Reinventing the Millennium

The New Year in the Internet industry has been disrupted, with return trips, overtime work, anger, and panic.

Many employees at Blog China are simply frightened and frightened.

The company has previously mentioned the goal of "catching up with and surpassing Sina". President Fang Xingdong formally and grandly announced it at the annual meeting in January, but there are only low expectations for whether Sina will put down its pretensions to compete.

Regardless of the excitement, there are nearly 400 employees working up and down, so who really believes it?

However, Sina seems to believe it!

Even convinced!

I haven’t been able to do my backhand for a long time, so I just worked overtime and hit it right back!

This, this... this is what Fang Xingdong didn't expect.

He had met Mr. Fang at the Internet Industry Development Conference in Shanghai. He was quite kind, but why was he so cruel?

Fang Xingdong was a little stunned by the heavy punch. On the surface, he naturally maintained strong confidence in the company, but in private when chatting with his friends, he felt aggrieved and a little aggrieved.

"How could Sina do this...I don't understand!"

"Why can't Sina do this?" Fang Xingdong's friend Xu Chaoyi, who also works in the Internet industry, asked in reply, "Why did Fang Zhuo become the boss of Sina? Is it just because of his good looks?"

"People like Duan Yongji have been defeated by him. Why are you messing with him? You have to catch up with Sina and surpass NetEase. Isn't it good? NetEase's current market value is higher than Sina."

Fang Xingdong was a little confused when asked, yes, why not catch up with NetEase?

Perhaps, it may be because Sina is the first portal website to be listed in the United States and the first industry leader to obtain news publishing qualifications. It may also be because I subconsciously feel that NetEase’s market value is overtaken by its games.

He replied a little unconvinced: "Who would really take this slogan seriously? The wireless TOM network also said it would surpass Sina!"

Xu Chaoyi said leisurely: "Speaking of TOM.com, how did you know that Fang Zhuo didn't respond? I heard that Fang Zhuo made a statement in Shanghai that the Li family had no control over the business in other parts of the mainland. He had to nod in Shanghai. .”

Fang Xingdong ate a lot: "He, is he so arrogant?"

Xu Chaoyi looked at his friend strangely and said: "He is the richest man in the mainland. Although he is not as good as Li Jiacheng, it is still okay to fight, right? What's more, in Shencheng alone, Li Jiacheng's Hutchison Whampoa lost last year. It’s been a while.”

Fang Xingdong murmured: "Fortunately, we have finalized an investment intention years ago, which is enough for us to make a larger scale."

Xu Chaoyi nodded: "Anyway, Fang Zhuo, the richest man, is not so easy to deal with, and his tricks are quite shady. Please be careful."

The drunken drinking session ended.

When Fang Xingdong returned home, he had just put down his phone when he suddenly received an urgent call from an investor.

Fang Xingdong estimated that Vice President Zhou Zisen of Dachen Venture Capital would have to listen to his own plan for Sina's competition. He took a deep breath for three seconds before answering the phone.

However, before even exchanging pleasantries, the other person gave him a piece of news that completely shocked him.

Dachen Venture Capital is withdrawing from this round of blog China financing!

Fang Xingdong couldn't accept it. The talks were very good years ago and the initial agreement had been signed. Even if Sina wanted to start a blog now, it couldn't just run away like this, right?

He communicated with Zhou Zisen repeatedly on the phone, and even stated that he would immediately buy a plane ticket to meet the investor.

After such an exchange on the phone, Dachen Vice President Zhou Zisen gave a reason other than lowering project expectations.

"Mr. Fang, it's like this." Zhou Zisen said thoughtfully, "Shencheng gave me a call. Well, I know President Yike Fangzhuo. Not only do I know him, I also invested in his project registration network. Its presence is relatively low now, but it was still very popular back then.”

"Guahao.com changed its name to Medical Group, but there has never been a good way to make money. Shanghai City now has money, and now it gives the original investors a chance to withdraw money."

"We at Dachen invested 12 million in the registration website, and now we can get back 25 million."

"However, Shencheng called me. They heard that the investment between Dachen and Blog China has not been reached yet. This, this comes back and forth..."

"In short, this is a factor we consider. Of course, the most important thing is that Sina is also doing blogs now. The competition you are facing is expected to be too great. If Blog China can survive this period, we are still willing to invest."

Zhou Zisen finished speaking.

Fang Xingdong was stunned.

He was stunned for a long time and said anxiously into the phone: "Mr. Zhou, Mr. Zhou, isn't Fang Zhuo threatening you?! Are you going to give in like this?!"

"Mr. Fang, don't think so. The main factor is Sina's competition." Zhou Zisen said seriously, "Our company adheres to principles. How can we make a decision easily just because of one person?"

He continued: "Moreover, Mr. Fang, let me give you a piece of advice. You really need to deal with Sina's competition. The guy from Shanghai has always been good at doing projects, but if he can't, you can expand the scale and let Sina acquire you."

Fang Xingdong gritted his teeth and said angrily: "I will never surrender, I will fight to the end! If I, Fang Xingdong, are even the slightest bit afraid, I will take his surname!"

The CEO of Blog Huaxia slapped his phone on the table angrily, and the next second he felt that he was mad.

That guy named Fang turns out to have such dark hands!

There is really no bottom line!

I, Fang Xingdong, will never give in!

Blog China will fight to the end!

…

Sina made many moves, and the secondary market was optimistic about it. The stock price rose from 50.36 to 52.18 US dollars in two days.

Then, MIGA Fund announced that it would reduce its holdings by 2% in the next six months and submitted a sale notification form to the SEC.

Chairman reduces holding?

Was the previous action just to raise the stock price to make a move?

There are some such doubts in China, and there are also doubts about whether Sina really wants to vigorously expand its blogging business.

Relevant financial media learned from Sina that the reason for MIGA Fund's stock sales was only vague "business factors" and that it will not continue to reduce its holdings and will hold its shares for a long time.

Even so, Sina's stock price still fluctuated, falling below the $50 mark from a recent high of $52.18 to close at $49.56.

Against this background, MIGA Fund announced the launch of the "MIGA China Collective Fund Trust Plan" on the afternoon of February 5. It will launch business together with Shanghai Pudong Development Bank and Shanghai Trust to deeply explore the domestic private equity market.

That is to say, Shanghai Trust serves as the issuer, Shanghai Pudong Development Bank serves as the fund custodian, and MIGA Fund is hired by Shanghai Trust to manage the funds.

As a result, MIGA Fund has become the operating entity of the third domestic securities trust plan and the first sunshine private equity in Shanghai to be registered under supervision, which has attracted attention for a while.

Yike was successfully listed, Sina made frequent moves, Yongke was invited to bid, and MIGA Fund opened up the domestic market.

Since Fang Zhuo became the richest man, and since Fang Zhuo returned from the United States, he immediately attracted the attention of many people and caused a lot of discussion after only a few days of silence before the Spring Festival.

After being promoted from the richest man in Shanghai to the richest man in mainland China, his behavior seems to have become more radical.