Chapter 14 Acquisition of Video Websites

Lei Ming fell in love, and when he ran to Liu Qian's school every day, Wang Xing and Yang Xixi were busy non-stop, one was recruiting everywhere, enriching the Weibo company, and signing Weibo promotion ambassadors with major entertainment companies, and the other was to follow up the projects acquired by Micro Technology, and to set up the public relations department of Micro Technology Group.

Generally, companies looking for celebrity spokespersons are one or two, and if they find seven or eight luxurious ones, they will dare to call celebrities to endorse.

Lei Ming asked people to find the roster of artists signed by various entertainment companies, and circled the current first- and second-tier stars and the stars who will be popular in the future. There were less than 100 in the entertainment industry, and Lei Ming also added some Olympic champions and cultural celebrities to make up a hundred, and then threw them to Wang Xing, asking him to sign all of them as Weibo's promotion ambassadors, and one sign for three years.

Of course, Lei Ming's move is not to create a moat, after all, it can still be breached after signing the contract, but the price is higher. Lei Ming wants to raise the threshold of Weibo competition, so as to avoid several portals from inviting these celebrities with a large number of fans to open Weibo to compete with him for free with the resources in their hands.

Either spend hundreds of millions of dollars to poach people and burn money for him, or slowly develop like those small companies. At this time, the economic situation is becoming more and more severe, and the profitability of the portal is also declining, and it is not easy to make up your mind to compete with him by burning money.

When the financial crisis passes, the prospects of micro-blogs are bright, and then some companies dare to burn money to compete with him, at that time, Weibo should already have a huge number of users, and some phenomenal entertainment programs he planned have also been produced, Weibo and phenomenal entertainment programs promote each other, and it is difficult for other companies to burn money to compete.

The public relations department of microtechnology is looking for some people who are familiar with major domestic media or departments.

On October 15, Jingxi Mall held a press conference to announce that it had received an investment of 100 million US dollars from Micro Technology Group, and all the funds have been received, and the valuation of Jingxi reached 250 million US dollars after financing.

This is the first financing received by a Chinese e-commerce company after the outbreak of the financial crisis, and the amount of financing is much larger than the industry guesses, so it is very interesting.

Liu Qiangxi boasted about Jingxi Mall at the press conference, believing that the winter of Zhongguancun is the spring of B2C, hoping to hit the sales target of 10 billion yuan in 2010. The financing will be used to expand BWI's product categories, enrich product brands, and enhance the company's logistics and distribution capabilities and after-sales service system transformation.

At the same time, he did not forget to praise the micro-technology group, saying that Jingxi will bring rich returns to investors.

Under the PR of Jingxi, many media have reported on this round of financing for Jingxi to increase traffic for Jingxi.

Liu Qiangxi also invited Lei Ming to attend the press conference, but Lei Ming said that Micro Technology Group is only a financial investor in Jingxi and does not need to disperse media coverage.

Lei Ming has read some reports of Liu Qiangxi in the future, and feels that Liu Qiangxi is a strong person who likes to use the Internet to publicize. His plan is to become the most eye-catching person on the Internet, if he participates in the press conference and steals some of Liu Qiangxi's aura, it will make Liu Qiangxi feel bad and not conducive to future cooperation. He also didn't want to play a supporting role. It's better to be a simple financial investor, and maybe make Liu Qiangxi grateful to him.

……

After the press conference of Jingxi, Micro Technology Group is still unknown among ordinary people, after all, not many people will remember a supporting role in a press release, but in the Internet circle and venture capital circle, Micro Technology Group is a day of popularity.

At this time, there are really very few companies that dare to invest large sums of money, and the valuation of Jingxi is also very high.

Many Internet companies have inquired about the contact information of Micro Technology Group through various channels, wanting to seek financing.

However, Lei Ming did not invest in other companies for the time being. Venture capital is too simple for him who has the memory of the stock market in 2018, he knows the companies that can be listed within ten years, but he can't look down on listed companies in general, and the billion dollars of micro technology are estimated to burn in a year according to his plan, so he still has to save some points and do his own things first.

When he ran to Liu Qian's school every day, after the operation of the investment bank, the transaction of Microtechnology to acquire six rooms of the video website for 100 million yuan was negotiated.

Founded in 2006, Hu Ge, who signed a contract to become an Internet celebrity with "A Bloody Case Caused by a Steamed Bun", quickly became the first in the video industry with short videos and online movies. But in 2007, the competition of video websites changed from short videos to film and television dramas, and the cost of servers and bandwidth required for long video on demand was much higher.

Six rooms also carried out two rounds of financing in 2006 and 2007, but the financing amount was not as large as that of Tudou and Youku, and they could only watch others become the first in the industry one after another. Even several other websites with stronger capital strength have more than six rooms, and it only took two years for the original industry No. 1 to become a third-rate website in the capital war, and it is still in debt.

What's worse is that after Lehman Brothers declared bankruptcy in September, the global capital market entered a cold winter, and it was difficult for Internet companies to obtain financing. Video websites, social networking sites, life search, and web games are considered by the industry to be the four most likely to go bankrupt during the financial crisis.

For a time, the creditors of the six rooms came to the door to force the debts, and many people sued the six rooms to the court.

Previous investors have also refused to make additional investments.

The founder, Liu Yan, can be said to be in a hurry at this time, either paying creditors in the office or stating in court every day that he is indeed unable to repay the money.

At this time, someone was willing to help him solve this mess and let him continue to serve as the CEO of Six Rooms, Liu Yan agreed to sell Six Rooms after only one day of consideration.

The investors who participated in the previous two rounds of financing also wanted to cut down this project, seeing that the six rooms were facing bankruptcy, someone actually bought them in full swing, so that they could make a small profit, and no one dared to open their mouths, and there were too many video sites willing to sell at this time. If they slow down, they may buy other video sites. The investment bank contacted one round and reached a consensus with all parties.

Lei Ming asked Yang Xixi to follow up and talk about some specific details on behalf of Micro Technology Group.

After the negotiation, on Friday, October 17, Lei Ming came forward to sign the acquisition agreement.

Six rooms, there is no cow he knows, six rooms did not make achievements in the video industry later, but transformed into a live broadcast website, Lei Ming has watched a few live broadcasts in six rooms.

After signing the agreement and having a meal with several former investors, Lei Ming came to the company with the executives of Six Rooms.

During this time, all video website companies were panicked, because after the outbreak of the financial crisis, many video websites began to lay off employees one after another, and no one knew how long they could work.

Six Rooms' staff has been cut from 120 at its peak to 60, and if it weren't for Microtech's sudden acquisition, many employees would have felt that Six Rooms might not be far from going out of business.

However, no one knows whether the new owner will continue to lay off employees after the acquisition.