"Since last year, there has been a big dark horse in the circle, don't look at Zhang Yiming ALLIN overseas, in fact, ......"

Li Nanjun said solemnly: "Unknowingly, ByteDance is already a giant with a valuation of more than $100 billion in non-public stock trading!"

Shen Feng nodded, complementing it is ByteDance's growing investment ambitions.

Specifically focused on the trajectory of Zhang Yiming in the past five years, there were only 89 investment activities disclosed to the public, far lower than that of old Internet giants such as BAT, which is very low-key.

In addition to the main business areas such as media and community, it also includes enterprise services, education, games, finance, real estate, artificial intelligence, hardware......

For the key layout of the track, such as education, games, in the past two years, crazy money, all kinds of mergers and acquisitions, all kinds of buying, buying, buying.

Unlike Tencent, which invests in 22 listed companies at every turn, ByteDance, which has deep pockets, has not sold any listed companies, and it is not just to buy profits and revenue. ”

Li Nanjun analyzed: "Byte prefers to break up the original team and integrate it into its own business, which may stop the development of the company's original business. ”

"Investee companies may not have a strong market share and a high degree of market awareness, but they are usually very strong in terms of product development technology, licenses, or intellectual property rights. ”

Shen Feng understands that ByteDance's investment logic is actually very simple: it is to make up for the shortcomings of content development and technology research and development brought about by business expansion through investment, and use the team's research and development capabilities for his own use, rather than a simple financial investment.

I have to say that this investment style is completely different from Tencent Alibaba!

Zhang Yiming is worthy of being an engineer, and the investment is like merging one workshop after another, and then rebuilding one new factory after another through Byte's strong operation and commercialization capabilities?

"Feishu Technology, Gogo, Curtain ......"

"Whether it is a merger or acquisition, it will eventually become a product of ByteDance and serve the overall business development of the group. ”

Li Nanjun said: "There used to be a product called the morning and evening calendar, a smart social calendar used to manage time and set schedules, and it was once popular with the function of "getting up early to punch in". ”

"It was acquired by Byte in 18 years, and the reason why it was acquired is probably because of the team's strong R&D capabilities in smart calendars. Directly together with the founder and part of the R&D team, bring in bytes. ”

"Then we immediately stopped the original project and split the team into multiple products, such as Feishu. ”

"I feel that in Zhang Yiming's eyes, as long as the team is good enough and the technology is excellent, it can be bought. ”

Shen Feng tastes tea, Lao Zhang and Lao Ma are a bit similar, and their investment styles are very strong: they use the companies they receive for their own use, and tend to directly control them after investment and completely absorb them into their own systems.

In particular, media information projects rarely see mass media, but are all vertical media, and the field is extremely subdivided. For example, I also pay attention to what I see on Wall Street and Caixin World every day......

In the automotive field, there are 30 seconds to understand cars, catering vertical self-media, tourism news media, and even a vertical community of trend culture, jewelry exchange community, and cosplay painting community......

All of them are to expand the content of Toutiao to a greater extent. Including 1.26 billion to become the second largest shareholder of Hupu, with a shareholding ratio of 30%, it is also to open the way for Douyin's sports-related business to be laid out in advance.

"As one of the leading short video distribution platforms in China, Byte has never shot any MCN agency or film and television company, do you believe it?"

Li Nanjun took a sip of coffee and said with a smile: "I only invested in Fengmaniu Media in February this year, an MCN organization focusing on catching up with the sea video, and it is also the first MCN invested by Bytes. ”

"The most famous is called Fisherman Ah Feng, who is famous for catching the sea on Watermelon Video and Station B, plus the wizard financial ...... that has been in a uproar recently"

Shen Feng pursed his lips, the battle between watermelon and station B KOL has long been a pot of porridge, right?

"It is rumored that 200 million yuan was invested in Taiyang Chuanhe, and the target is Chen Chichi, after all, he is a funny comedian, and there is no big problem with live broadcasting. ”

Shen Feng nodded secretly, the cold winter is a gluttonous feast for giants, casually cutting the valuation in half, and putting all kinds of bets on the neck, in case the project fails, it is better......

Team all into my bowl!

obviously felt that Zhang Yiming was fighting for another hit.

The integration of small and medium-sized enterprises into their own business and the use of portfolio companies is a shortcut to make up for the lack of R&D capabilities due to business expansion.

Giants are not bad for money,

Poor time!

"Last night's vision financial report was officially exposed, and it ......was a big loss," Li Nanjun said: "One trillion yen!"

Shen Feng shook his head, worthy of Sun Zhengyi, can he lose a trillion bigwigs?

"64 billion yuan!" Li Nanjun sighed: "Last year, it claimed to have made a profit of 93.6 billion, and this year it is 168% free fall?"

Shen Feng waved his hand, if you want to talk about the investment field, Son Zhengyi will always be an unavoidable name.

One of the gods!

Bill Gates is called an entrepreneur,

Warren Buffett can't even be considered an investment, who wouldn't sell only Coca-Cola and Boeing every year?

Soros is fierce, but it's a pity that it's speculation, and it's a heartbeat.

Masayoshi Son is the standard investor.

Forty years ago, when he was a college student in Berkeley, California, he sold his patented pocket translator to Sharp and made $1 million.

Five years later, when the islanders thought that the PC was just a toy, they went back to China and founded the company, focusing on PC software sales.

On the day of the company's founding, standing on the packing box, he made a declaration to two part-time employees: "In five years, we will have 1,000 sales branches and sales of 75 million US dollars. ”

Outcome......

Employees are scared to resign!

But the first bull that Masayoshi Son bragged about really came true!

00 years is the investment myth that is talked about by the world, 20 million US dollars injected into Alibaba, 14 years old horse landed in the US stocks, 20 million soared 3000 times......

$60 billion!

10 years of two-wheel drive to welcome the advent of the era of artificial intelligence: on the one hand, through the accumulated network and reputation, the establishment of venture capital funds with other institutions, financing exceeded 200 billion US dollars.

All kinds of high-tech smashing, what Uber, Didi, Wework, Boston Dynamics, ARM ......

Known as the well-deserved God of Wealth in the circle!

"Losing money is only one aspect, and what makes investors question the most is the departure of the two bigwigs. ”

Li Nanjun analyzed: "Last year, Uniqlo founder and CEO Yanai Masa, and this year Lao Ma successively announced his resignation from the board of directors of SoftBank, which caused two major questions in the capital market: Do heavyweight directors disagree with the current practice of SoftBank and withdraw from the board of directors?"

"Or maybe the existing directors lack the ability to check and balance Son?"