After returning to the imperial capital, Jiang Hui began a busy life. The first thing that came to the door was the Tang article on the school intranet.

After more than a year of development, the school intranet is now the largest social networking site in the country and even the world, with business in the Celestial Empire, island countries, South Korea, Russia, India, Vietnam and other countries and regions, with nearly 100 million registered users. The influence of the school intranet has gone from the Celestial Empire to the world, and the development speed is much higher than that of Facebook.

"Jiang Dong, we are ready for the opening of registration permissions to high school students in the Celestial Empire, and this is our evaluation report," Tang said.

"Have you done a specific investigation?" Jiang Hui asked.

"Yes, we did an online survey on the school's homepage, and more than half a million users participated. More than 50 percent of the people are in favor of opening the intranet to high school students, about 40 percent say it doesn't matter, and less than 10 percent say they are against it," Tang said.

"What is the distribution of this part of the user group that has expressed opposition?", Jiang Hui asked.

"More than 80 percent of these people are college students, and most of them are graduate students," Tang said.

Of the more than 20 million users of the Celestial Empire, seventy percent are college students, and the rest are college students who have graduated.

"Do you understand why they are against it?" Jiang Hui asked.

"Yes, in fact, I don't care because I am worried about the impact on the user experience, and I am afraid that some users with low cultural quality will flood into the school intranet," Tang said.

"What about the users who have agreed to open up the intranet to high school students?" Jiang Hui asked.

"We've also seen this part of the people, and the reasons are varied. Some of them are because they have classmates who are still in high school, especially first-year users, some of their classmates are repeating in high school, or they are not in college, and they hope that the school intranet can accept high school students;

"Expanding the user base should be a trend on social networking sites. In the early stage of development, in order to improve user stickiness and user experience, we were more strict about the registration permission card. Now that the school intranet has been established for almost a year and a half, the number of domestic users has been a little sluggish, and it is time to let go of the registration permissions," Jiang Hui said.

"Yes, judging from the development of island countries and South Korea, the relaxation of registration authority is very beneficial to the increase in the number of registrations," Tang said.

"Well, that's it, starting tomorrow, the school intranet will open the registration to all high school students of the Celestial Empire. As for when it will be open to all users, this will depend on the situation later," Jiang said.

"Okay, so in India, Vietnam and other places, will we also lend registration rights to high school students?" said Tang.

"Let's go, let's rush the number of users this year, and we can consider going public next year," Jiang Hui said.

"Jiang Dong, where are you going to list the school's intranet?

"Nasdaq, Internet companies go public there to raise some money," Jiang Hui said.

NASDAQ, the full name of the National Association of Securities Dealers Automated Quotations (National Association of Securities Dealers Automated Quotations) is an electronic securities trading institution in the United States, DAQ is the abbreviation of the National Securities Association Market Automatic Quotation System, founded in 1971, has become one of the world's largest stock markets.

The preference of Internet companies in the Celestial Empire to list on the NASDAQ is mainly related to the domestic listing threshold, listing cost and capital market capacity.

In China, even if it is the easiest A-share GEM to be listed, enterprises still need to meet certain hard indicators: continuous profit in the last two years, with a cumulative net profit of not less than 10 million yuan in the last two years, or a profit in the last year, with an operating income of not less than 50 million yuan in the last year. By this standard, the vast majority of domestic Internet companies will be excluded from the A-share market, after all, many Internet companies occupy the market at a loss in the early stage, relying on concepts and prospects to raise funds.

The other is the cost of time, the domestic IPO system is an approval system, and when it is approved, the company says that it does not count at all. Considering that the time from review to issuance can be very long, the time cost is too high for Internet companies in the rapidly changing situation.

Another issue is market capacity. At present, the overall market value of the Shanghai Stock Exchange in China is relatively low, and the valuation of Internet companies is often relatively high.

In fact, most Internet companies choose to be listed on the NASDAQ, and Jiang Hui naturally will not stand out from the crowd and go to the Shanghai or Shenzhen stock markets to be listed.

"Well, then I will refer to the listing requirements of the NASDAQ as much as possible to make some adjustments to the company's operations and reduce the subsequent listing obstacles," Tang said.

"There is no need to be too deliberate to cater to the needs of listing, the most important thing is to see whether it is conducive to the development and growth of the intranet, after all, listing is only a means, and development is the goal," Jiang Hui said.

Although Jiang Hui planned to raise funds on the intranet and Meituan online before the financial crisis, when the stock market was at its hottest, but now these two companies have a very good reputation in the venture capital circle, and if they are just for financing, they do not necessarily have to go public, so Jiang Hui does not want to go public on the intranet for the sake of listing.

"Understood, I'll pay attention," Don said.

Up to now, the school has almost 500 employees and is valued at more than 10 billion yuan. Whether in terms of staff size or valuation, the school intranet is a pivotal enterprise in the Internet world of the Celestial Empire.

The action of further opening up the registration authority of the school intranet has made it more difficult for companies to catch up with the school intranet.

In the past, because the intranet of the school was only allowed to be used by college students, the majority of other netizens thought that it was blocked. This has given some companies and individuals a glimmer of opportunity to build a social networking site for all netizens, imitating the school's intranet. However, after these companies found funds and developed their websites, they found that the school intranet had gradually opened up the registration authority, and the school intranet had already grasped the best quality netizens in the Celestial Empire.

Now that the registration rights are further opened, these companies can only think about it when they dream at night if they want to catch up with the intranet of the school.

(End of chapter)