Chapter 108
On the morning of September 2, several senior management and technical and product development leaders from Baidu Company in Yanjing also sat in the conference room early.
In the conference room, the vice president asked everyone what they thought of the newly launched minimalist forum called "Tieba" on EasyTing.com. 80% of the people gave an evaluation: awesome.
Niubi lies in the creativity of this product and its ability to integrate.
EasyTing.com itself is a platform that provides music audition and download. Its users are all fans of various singers. The star Tieba currently opened by Tieba is just a small forum that is independent of each singer, which is very good. The fans of a singer gathered in the post bar under his name.
This will not only increase the viscosity of the original users of Yiting.com, but also attract users who do not listen to songs on Yiting.com, but like certain singers, because there is an exclusive forum named after idols, so many fans gather here, the community The effect is very powerful.
The vice president said sadly: "Why don't we have such advanced product thinking? If we build a Baidu Tieba on the basis of search services, we can become the largest online community in China in one step!"
He was right. In the future, Baidu Tieba will have more than one billion registered users, and it will indeed be the largest Chinese community in the world. Although they seem to be unscrupulous in buying and selling Tieba, the scale is there after all. This is undeniable.
The director who is in charge of new product development, the one who asserted at the meeting that Yiting.com's products are too single, is now embarrassed to the point of death. He originally thought that as long as Baidu launched MP3 downloads, the death of Yiting.com would not be far away. Oh, I didn't expect that it didn't take long for people to come up with a heavyweight product like Sing Xing Tieba, just to slap him in the face.
Angrily, the executive blurted out: "In this case, let's also make Tieba, MP3 and Tieba together!"
The vice president glanced at him, shook his head and said, "I don't need you to give me such an afterthought, what I want is your innovation ability, understand? If you are ready to plagiarize and catch up, we want you to create a powerful product like Tieba for us. As a leader of new product development, you can’t always pick up the slack!”
The executive's face was flushed red when he was said, and he didn't dare to look up in shame.
At this time, the vice president's mood also eased a little, and he said: "MP3 and Tieba, we will definitely do it, but have you ever thought about it, now a group as large as a singer has been made by YiTing.com. Now, if we start, how should it work? And I checked, their Tieba is not only tied to YiTing.com, they even have a top-level domain name, and this domain name is now open, that is to say, they integrate YiTing.com Tingwang's specialty made Tieba, but I wanted to make Tieba an independent product."
It is also Li Mu's consideration to create a post bar independently. After all, EasyTing.com only gathers music lovers. If you use EasyTing.com as a carrier, you can only be a singer post bar, which is far from enough for Li Mu, so he used it. A home page of Tieba has been made, with a search function. Users can directly enter the homepage of Tieba, and then search for the singer's name to enter the singer's Tieba.
At the same time, Li Mu has instructed Kong Lingyu to develop the registration function of the post bar. In the future, his own post bar will also have the function of user creation at will. Moreover, Kong Lingyu is also leading a group of part-time employees to collect all star information in the fields of film, television, sports and variety shows. It is expected to take a long time. , Tieba will be open for registration, and all celebrity Tieba will also be online. At that time, Tieba will go beyond the limitations of EasyTing.com and singers.
At the Baidu high-level meeting table at this time, several management personnel who returned from overseas were stunned, and they began to think about the independent split so soon. Who is the person behind Yiting.com?
In fact, Li Mu's idea is to create an ecosystem,
EasyTing.com and Tieba are just the beginning of the ecosystem, and Li Mu has many more plans for this ecosystem in the future.
The popular simple plan is to let YiTing.com start in the field of music audition and download, and then gather users who have music audition and download needs. Now Tieba has started the first step of the ecological chain, communityization.
After the community starts, there are too many things that can be done. Personal space, photo albums, stealing vegetables, pastures, and grabbing parking spaces are all magic weapons in the future community field, and now Taobao’s domain name is still in its own hands. In history, Ali Taobao won't be founded until 2003. The reason is also because of the particularity of the SARS period. If you start a year or half a year earlier than Ali, and rely on the users you have accumulated, it should be easier than Ali to start.
An operation director sighed: "The other party has Tieba's top-level domain name, which is very passive for us, unless we change the name, not Tieba, and then quickly develop a mature product, go online as soon as possible and pass the future Baidu. Search keywords to guide our own Tieba products."
The person in charge of technology development said in surprise: "Although the concept of EasyTing.com is good, but from a technical point of view, these things they play are not difficult, and they are easy to imitate. Besides, after all, they have limited strength and no support. If we can't find a profit model, it will take a long time to develop into a bottleneck period, so I think we think too highly of them? We have such powerful resources, and products can be developed, and it will take a long time to replace them. "
The vice president shook his head: "You can't just look at the problem from the technical level, and you can't think that others will not be able to support without a profit model. Their concept can shock us, and it will definitely shock others, especially VCs. The influence of the Internet bubble is still there, but the capital has such a keen sense of smell that they have begun to realize that the next spring of the Internet is coming, and they are also looking for suitable projects in advance. If Yiting.com gets the angel round or A round of financing, with With the support of big capital, they rely on these two products to make a market value of several hundred million in one or two years.”
This remark made the technology suddenly speechless.
It is true to say that the Internet plays with creativity, technology, and users, but in the final analysis, it plays with capital.
Behind every Internet celebrity, there is strong capital support, such as Sequoia, Softbank, Goldman Sachs, etc., capitalists have a lot of cash waiting to invest in good projects, without the help of capital, the top BTA companies in China in the future will not be able to One can get up.
Yiting.com and Tieba are rapidly rising. I believe that it will not be long before they will be noticed by other Internet companies and investment bank capital. If they get the A round of investment, Yiting.com can start the money-burning mode. As long as the money-burning strategy is not The problem is that in the future B rounds and C rounds, the major investment banks will make money and give him money to burn. Not only that, in order to get high returns on investment, investment banks will invest in contacts and resources to help them develop when investing money. Growing up, by that time, Baidu may not have an advantage in front of it.
The person in charge of the investment department said: "Mr. Chen, should we contact Yiting.com first, if their quotation is not high, it would be good to pack them up, in this case, we will directly integrate their two products into our own. products, a Baidu MP3, a Baidu Tieba.”
The vice president nodded: "That's what I meant for the meeting today. We can get in touch with Yiting.com first to see what the other party's psychological expectations are."
After speaking, the vice president asked the person in charge of the investment department: "How much do you think is appropriate to pack them now?"
The person in charge of the investment department thought for a while: "If there is no Tieba, just Yiting.com, I think it will be around 800 to 10 million. After all, this business is still legally blank, and the law will gradually improve in the future. It is inevitable to be at risk. However, there is no legal risk for such things as Tieba, and there is too much room for development. I think, according to normal valuation, a single Tieba should not be less than 20 million. If the two are combined , the valuation will be higher, but this is also what we see. If you really offer him, the price will be greatly discounted. After all, they have only been established for more than a month, and I believe their own psychological expectations will not be too high. "
The vice president was noncommittal, thought for a moment and said, "Let's get in touch first and see what's going on."
...
At noon, Li Mu received an email in the mailbox of Yiting.com. A person who claimed to be Jack Zhou and was the director of Baidu's investment department said in the email: Baidu is optimistic about the development of Yiting.com and Tieba, and has the intention of packaged acquisitions. , I hope to have an interview with Li Mu.
Li Mu simply replied: We will not accept packaged acquisitions for the time being, only financing. A round of financing will sell up to 10% of the shares. You can decide on the valuation. Please email and let me know, and I will consider it again.
Li Mu knew very well that if the MP3 business was taken out alone, the profitability would not be too outstanding, but for a company like Baidu, the overall improvement brought by this business would not be able to use millions or tens of millions of cash. To measure, it is the cultivation and precipitation of a large number of users, which has a great effect on valuation.
As for the post bar, the future profitability of this thing is still very fierce. If you sell it now, wouldn't it be a big loss?
Therefore, he only accepts financing, and will not dilute too much of his shares in the A round, otherwise after several rounds of financing, he may be united by capital, take control and be out.
Moreover, the sooner the shares are diluted, the greater the intangible losses to be borne in the future. Children understand this principle.
As for what kind of valuation Baidu is willing to give himself, Li Mu is not in a hurry, let them think about it slowly. If there will be more development with Tieba, I will increase the price in time.
Li Mu's reply made Jack Zhou feel guilty for a while across the computer. This guy's reply was too decisive. He immediately refused to package it. That's all. The A round is only willing to sell 10% of the shares. This is the Internet A veteran in the field of entrepreneurship!
Jack Zhou, who has been investing for many years, understands the vision of many Internet entrepreneurs now. Most of them are struggling to support a start. As soon as they see the capital, they will immediately let them be slaughtered. In the A round, they are willing to sell more than 51% of the shares. There are also a lot of people. After seeing the benefits of hundreds of thousands or even millions, these people often ignore the future and just want to cash out immediately. Only after cashing out did they realize that they lost ten times what they got. Even a hundred times.
Jack Zhou feels that the other party is only willing to sell 10% of the A round, even if Baidu accepts and invests, it will not have much effect for a while!
The more worried he was, the more Jack Zhou felt that the other party was a character, not ordinary.
...
The tickets that Li Mu and Zhao Kang booked were at 8:00 p.m. on the 2nd. At 7:00 p.m., Li Mu carried a backpack and walked out of the house accompanied by his parents. Although his mother always said that he wanted to accompany him to report to school, Li Mu still He refused, he didn't want his mother to accompany him to Yanjing and toss around again.
After leaving the house, I met Zhao Kang's family waiting here at the intersection of the community. Zhao Kang's parents also wanted to go to Yanjing to see him off, but when they heard that he and Li Mu had made an appointment to go together, they didn't insist.
Seeing that Zhao Kang also only carried a backpack, Li Ma couldn't help but said to Zhao Kang's mother: "You said that these two children are like playing in college, except for a computer and a change of clothes, they don't bring anything with them. ."
Li Mu said with a smile: "Actually, there is nothing to bring. The school provides bedding and other supplies, and other daily necessities are purchased locally. It also saves us the effort to bring them there."
Zhao Kang's father smiled slightly and said to Li Mu, "Xiao Mu, you two brothers have arrived in Yanjing, what matters should you take care of each other."
Li Mu nodded: "Uncle Zhao, don't worry."
Dad Li smiled and said, "Old Zhao, Yanjing is too far away, we can't control it, and we won't be able to control them in the future. Let the children go out on their own."
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