The promotion of Renren and YY, although it is the most important work of Gu Cheng in the first half of 04, but at the moment when he has just returned to China, he can't take care of it. Pen, fun, pavilion www. biquge。 There is a more important business policy that he needs to set the tone himself, and no one else can do it for him.

That's how you decide how to spend the money from the IPO.

IPOs are not for pretending, they are for financing.

Although most virtual economy entrepreneurs who want to hit the wealth rankings in order to pretend to be forced, they will choose the shortcut of IPO, but they have misread the scriptures, so that many people who eat melons have forgotten the original intention of IPO.

Legendary Entertainment's market capitalization hovers around $6.5 billion, which is quite stable. The money raised during the IPO process was about $900 million.

It is very unwise to lie on the account after the money is in hand, and it is necessary to buy and buy according to international practice.

Boss Ma Feng Ma Teng Li of later generations did this.

But when it comes to Gu Cheng's hands, the situation is a little complicated.

He didn't plan to run Legendary Entertainment, a game company that was branded as the bottom of the chain of contempt, because it was a money-making method that he had to rely on when he was poor, not the career he wanted.

In the future, whether it is the improved "Zhu Xian" or the agent of "World of Warcraft", which will always be at the top of the chain of contempt, he hopes to draw a line with the former Low beep. "Legend" and "Miracle" are just a few pieces of dregs that were eaten and wiped out by Gu Cheng and squeezed out of the remaining value, and they should be dumped at a high price to Sun Zhengyi before they go ashore to wash their white.

At this time, he is very particular about how to spend this money.

The money raised from the IPO is obtained from the issuance of new shares, rather than the sale of old shares. As the name suggests, the company has increased its stake by 15% out of thin air through a capital increase, so the $900 million belongs to Legend Entertainment, not to Gu Cheng or any other old shareholder.

(Note: For literacy, if a shareholder sells his old shares, the money he gets belongs to the shareholder.) ）

After the company was listed on the NASDAQ, it had to announce its financial reports and results every quarter, and the financial transparency was much higher than before the listing, and the difficulty of related party transactions had also increased exponentially, and even the scale for Sun Zhengyi and other small shareholders to legally monitor Gu Cheng was much greater.

It is precisely because he knows the restrictions after the listing that Gu Cheng will carry out the largest dividend in the three years since the establishment of Legendary Entertainment at the end of 2003.

At that time, he distributed all the net profits earned in the entire 03 years, and even Sun Zhengyi, who had just implemented the debt-to-equity swap agreement and obtained 25% of the equity, almost got tens of millions of dollars. This is still the state of Legendary Entertainment that has been helping Alipay and other brother companies bear the cost. If you don't take the blame, it is possible for this company's year-end dividend to be doubled.

In a word, if you use the money raised from the IPO to buy, buy, buy, and buy, the things you buy will belong to Legendary Entertainment in the future, not to him Gu Cheng. After Legendary Entertainment was dumped, everything that was bought today will follow.

Spending money, never so technical to live.

……

"The board of supervisors questioned that the activity of 'Alipay users get a 5% discount on the first purchase of the Legend Card' must be stopped! Either Alipay should pay at least half of the difference to Legend Entertainment! The miracle MU krypton vouchers sent by Taobao's lottery should also be stopped, or let Taobao pay.

Xiao Gu, we are now listed on the NASDAQ! You can let me save some snacks and put away all the original wild ways. Otherwise, even if Sun Zhengyi doesn't bite us, the people from the US.SEC will come to us for tea!"

No, for the new company, how to spend money, early Tuesday morning, before Gu Cheng's butt was hot in the office, CFO Liu Qian came to the door to complain. She didn't mean to be so tough on Gu Cheng, she was really a rat in the bellows, and she had enough of the days of being angry at both ends.

(Note: US.SEC, Securities and Exchange Commission)

Gu Cheng rubbed the bridge of his nose, his brain was running fast for more than ten seconds, and he reluctantly accepted the first one and rejected the second one: "Alipay's first rush discount can allow Alipay to pay for it."

But Ma Feng's voucher should be counted as the marketing and promotion expenses of Legend Entertainment -- the cost of 1,000 people is higher than this! You take the cost report of 1,000 people for each channel in the last quarter and show it to Son Zhengyi! We can't let outsiders bully them across the board, and the advertising, marketing, and promotion expenses borne by Legend Entertainment itself have to come from Legend Entertainment!"

Liu Qian is in charge of finance, and she doesn't know the efficiency of marketing expenses, she was just busy and dizzy just now, and after hearing the words at this moment, she urgently searched for it, only to find that Sun Zhengyi, the old fox, was actually playing entrainment, and wanted to disguise part of the publicity expenses that Legend Entertainment should pay out of his own pocket as "friends are forcing us to discount and solicit customers for friends".

She also followed the advice and immediately changed it.

Despite rejecting one article, Liu Qian still shook her head secretly, feeling that life was sad.

The relationship between Gu Cheng and Sun Zhengyi has developed to the extent of being a thief and preventing thieves, one does everything possible to spread the money spent on other businesses under his name to Legend Entertainment to write off the account, and the other does everything possible to put the money out and say, "I don't carry this pot."

There is no other reason, there are so many businesses under Gu Cheng's name, only Legendary Entertainment has Sun Zhengyi's shares, Sun Zhengyi naturally hopes that this company will spend less money, and the money that should be spent will be spent by those subsidiaries where Gu Cheng and Pan Jieying absolutely hold large shares.

I heard that in just a few days, Sun Zhengyi had already scolded behind his back in private: "Baga! These wild people in Huaxia! The "Company Law" is almost the same as not!"

Although Sun Zhengyi scolded correctly.

Because before the Supreme People's Court implemented the Interpretation (II) on Several Issues Concerning the Application of the Supreme People's Court on May 19, 2008 (Fa Shi [2008] No. 6), the protection of the interests of minority shareholders in the Huaxia Company Law was indeed very blank, while the Mi Guo and Fusang people were much more in place in this regard during the same period.

Will this life last long in the future?

Liu Qian's mind was chaotic, and it took a long time to make the differences between Gu Cheng and Sun Zhengyi clear, and Gu Cheng gave her a plan to buy and buy, and asked her to lead the team to implement it.

Liu Qian felt that her head was big for a while, and she read it roughly:

"Spend $50 million to develop several high-quality single-player/online games that support AGEIA's new Phy-X physics engine this year, and undertake the corresponding upfront technology investment?"

"Spend 200 million US dollars to build an online sales platform for genuine games, the project should include both the sales of genuine CD games, online download/verification of digital sales, and the research and development of DRM online genuine verification technology and anti-virtual optical drive recognition technology? The name of the project is tentatively named STEAM, and the nature of the project is a wholly-owned subsidiary of Legend Entertainment. ”

"SPEND $200 MILLION TO SUBSIDIZE THIS GENUINE GAME DISCOUNT PROMOTION AFTER THE STEAM PLATFORM IS BUILT, AND STEAM SHOULD USE DIRECT OFFICIAL DISCOUNTS TO LAUNDER OR DILUTE THE BENEFITS OF PLATFORMS SUCH AS ALIPAY IN THIS PROCESS. ”

"Spend $50 million to set off the degree of counterfeiting of the brand, and pay for the judicial recognition of well-known and other brand building and exposure funds......"

The things at the top of the list are very clear and bright, and the more you go down, the more you can only talk to Liu Qian in private, at first glance, it is a side ball that damages Sun Fei's private interests, and if it is not decorated, it is estimated that it will be very angry if Sun Zhengyi sees it.

In fact, even though Liu Qian thought that she was Gu Cheng's henchman and could figure it all out, the truth was that she couldn't completely follow Gu Cheng's train of thought.

The STEAM platform, in another time and space, was established in 2004 by the Welfort company that makes CS games, but not now, about half a year away. Gu Cheng didn't bother to think about the name, when he first thought of it, he found that the name STEAM was searched for all countries in the world and there were no game companies using it, so he grabbed it all, and it was a big deal to let Villefort Company think of another one when the time came.

Historically, in the first three or four years of its establishment, STEAM was not a qualified digital version of the genuine stand-alone game sales platform, it only sold Villefort's own products - the difference between the two is roughly Jingdong and Taobao, one is the official flagship store of B2C, and the other is a third-party open platform of C2C.

There's no value in talking about that right now.

IN GU CHENG'S EYES, HE DIDN'T PLAN TO USE THE STEAM PLATFORM FOR A LONG TIME, AND STEAM WAS TOO ADVANCED IN 04, AND THE PEOPLE DIDN'T HAVE ANY CONCEPT OF SUPPORT FOR GENUINE STAND-ALONE GAMES AT ALL. This is destined to be the last to shed blood.

However, in the process of making STEAM, the R&D experience and project technology accumulated by the company may be copied by Gu Chengshen unconsciously. Even in this process, a large amount of technology can be outsourced, and the R&D team of Legend Entertainment itself is not entrusted to do it, but entrusted to companies with strong R&D departments such as YY Network Technology controlled by Gu Cheng. In this way, in the end, Legend Entertainment just took a finished product, and a large amount of technical experience can be left outside the system.

And STEAM plans to implement the stand-alone game this year at a loss and discounted sales, one can cultivate the national sense of genuineness, anyway, this market is sooner or later Gu Cheng will kill back, other Internet people in China will not have such a big appetite to get involved in three or five years, the bigger the market, he will always benefit in the future.

AND IN THE PROCESS OF STEAM'S ACTIVE DISCOUNTS, ONCE THOSE STAND-ALONE GAME LOVERS DISCOVER THE FACT THAT "YOU CAN'T BUY SUCH CHEAP GAMES WITH CASH, AND YOU CAN ONLY BUY THEM WITH ALIPAY", THEY WILL UNDOUBTEDLY FORCE THESE PEOPLE TO ENTER ALIPAY AND HELP GU CHENGBAI PUSH A LARGE WAVE OF ALIPAY/YY/RENREN'S USER ECOSYSTEM.

Today, the number of Internet users in the country has barely exceeded 100 million. According to official estimates, it will probably reach 130 million by the beginning of 05.

But in fact, the number of people who own computers is higher than the number of Internet users. Especially in remote areas, due to the low user density and high cost of overhead wired broadband, the cost of sharing the cost of each household is relatively poor compared to the local income. According to the statistics of Gu Cheng's strategic research department, there are at least tens of millions of people who usually have access to computers, but they have not opened their own networks, or even if they occasionally go to Internet cafes to connect to the Internet, they do not have the habit of using QQ/YY and other software products that require registration/login.

The scale of these "computers but no network" users can probably account for 2~3% of the existing Internet users, which is the social reality in 2004, and there is nothing surprising.

No matter how hard you push in the field of online games, it is impossible for these netizens to be pulled into the pit of Alipay. But single-player games, especially those that are so less popular and so classic that pirate disc burners are afraid to sell them for fear of sales, are the ones that are most likely to be played by this group of would-be netizens - if they can find the game.

Gu Cheng built STEAM to fight a wave of pioneers in advance, and as a front wave that will eventually die on the beach, he hopes to let this part of the quasi-netizens that Tengyun Company has not yet been able to touch be intercepted by Alipay and YY before entering the online world.