Every prediction made by Gu Cheng at the YY mobilization meeting was unreservedly accepted by all the management. The plan he arranged www.biquge.info pen ~ fun ~ pavilion has also been implemented very thoroughly.

All the employees of YY Network Technology, and even the senior management of Eslite Holdings, clearly know what they want to do and what they will do this year.

In the rest of April, the new version of YY with chat history was successfully launched - the chat history function, before Wang Qingming came to YY, the company had already started to develop, so it was not difficult to get a usable version immediately.

The difficulty is the follow-up data optimization and integration, which can be left to Wang Qingming to be familiar with the situation and slowly and gradually improved.

After the new version of YY appeared, it immediately achieved a good market response. One million sets of professional YY almost immediately spread to all e-commerce practitioners in the country.

There are 200,000 accounts used by Internet café owners and network administrators in major Internet cafes across the country. After all, YY is not as good as Alipay, and an Internet café may only have one seller's capital account, but there will be several network managers, so it is normal for 50,000 Internet cafes to be equipped with 200,000 YY.

In the same way, on Taobao, which has been online for five months, there are as many as 200,000 YY professional accounts used by those 30,000 stores, because each online store has a lot of junior two and customer service.

In addition, B2C e-commerce information websites such as Ahri Baba, business personnel, customer service personnel, and government agencies of all technology companies and some foreign trade companies consult customer service online......

These users who have just needed a "serious, legally valid chat tool" didn't know how to use QQ before, but now they have all joined YY Professional Edition all of a sudden.

Considering the "DingTalk" of another time and space, it is not surprising that WeChat can still squeeze out 3 million enterprise users in a short period of time when WeChat has seriously penetrated into all corners of the world.

The success of this feature also caught QQ off guard.

Tengyun didn't have a similar R&D plan, nor did he have sufficient intelligence work, so he only began to evaluate, set up projects, and prepare to copy after seeing YY's new features online.

Even though Tengyun Company's execution is very bold, quite deep wolf, overtime is crazy, and even the project is planned and developed, under normal circumstances, it will not be able to do this piece in more than two months.

What's more, this is not a normal situation at the moment.

Because Wang Qingming, who has been responsible for the optimization of QQ server data, was kicked by Ma Tengteng's cage for birds, and gave up his original position that was expected to be promoted to Dong Rongjie, an email god who was poached from Huang Yi.

Wang Qingming's technical backbone of this number of segments will definitely lead to the centrifugal detachment of his subordinates, including his ordinary programmers, who will go a small wave.

Therefore, QQ's data optimization R&D team is just at a juncture when the team has not yet completed its re-running-in. According to martial arts novels, it is called "the old power is about to be exhausted, and the new force is not born", which is very easy to be taken advantage of.

"Gu Cheng is so despicable! Ma Dan bought 19% of the equity of our company, and he still refuses to work with us with one heart and one mind, and he has to find a hollow out to start a new stove. This guy's conscience was really eaten by dogs, where did Lao Tzu provoke such a mourning star!"

Ma Teng, who is in Shenzhen, heard the bad time reported by his subordinates that "it may take 4 months to complete the plagiarized YY chat history function, and I have to ensure that the server side has twice the storage margin for standby", and his heart was simply beepping.

He immediately summoned his elder brother Zhang Zhidong to discuss: "Is there a possibility that this matter will be urgent?"

Zhang Zhidong spread his hands: "4 months is good, Pony, you still worry about the bandwidth and the server, I think that is more troublesome." Once this feature is followed, the broadband fee that QQ will burn every month will increase by at least a few percent. Our company is not as good as Gu Cheng, there is almost no cash flow.

At the beginning of the year, you also raised this issue of 'capital burn rate' in the board of directors, striving to be listed on the Hong Kong stock market next year, in exchange for continuous and stable financing to offset QQ's increasing expenses. According to the listing plan, our current funds are to last for a whole year, and if we rashly increase the burning rate, there will be a great risk of capital chain breakage. ”

Historically, Tengyun was listed on the Hong Kong Stock Exchange in June 2004. Now that the Internet crisis has ended a few months earlier, according to Tengyun's plan, it will not be listed until the end of the first quarter of 04, that is, from March to April.

In contrast, the listing of domestic Internet companies on the Hong Kong stock market is not a good choice, because the capital market of Xiangjiang is relatively conservative in the valuation of Internet concept stocks, and the capital raised in the Hong Kong stock market will be at least three or four percent lower than that of the Nasdaq.

(Note: The valuation of Hong Kong stocks on the Internet industry is not always conservative, at the peak of the bubble in the late 90s, Hong Kong stocks were crazier than US stocks, and Li Zekai's Yingke Digital had a peak market value of more than 580 billion Hong Kong dollars, but in fact, Yingke Digital was an empty shell at that time, selling some franchise concepts.) Later, in the cold winter, Yingke fell from 580 billion to 30 billion, which scared Hong Kong stock investors. Since then, Hong Kong stocks have generally begun to seriously undervalue Internet stocks. ）

In parallel time and space horizontal comparison, Chen Tianqiao's Shengda chose to be listed on the NASDAQ in 04, and Boss Li's Baidu also chose to drag it to the NASDAQ in 05. After the successful listing, the valuation premium multiple is much higher than Tengyun's - it can also be seen that Ma Teng in 03 is really out of money, and would rather lose more than 30% of the market value in exchange for a quick listing success.

It's trading money for time.

How to spend money in the next year, Ma Teng is a radish and a pit is arranged.

Now there is a competitive feature that "either you don't follow up, or if you follow up, the cost of hardware such as server fees and broadband fees will skyrocket by several percent".

To copy, or not to copy?

Ma Teng felt that his hair was about to be scratched: "Is there a way to find other channels for financing? ”

"What's the use of you asking me? You should ask Lao Luo. Zhang Zhidong shrugged his shoulders and said that he couldn't help.

"That's right, I'm confused. Ma Teng smiled self-deprecatingly, and said in his heart how he asked the CTO about finance.

So he signaled Zhang Zhidong to continue to arrange the copying and copying, and don't worry about the funds. At the same time, a phone call called CFO Luo Shuohan.

"Pony, what's wrong? I'm still busy with the TC declaration. Luo Shuohan is also a busy person, and he is very anxious as soon as he enters the door.

Ma Teng pondered how to speak, his knuckles were anxiously tapping on the table, and only after a while did he slap the table and ask directly: "Within this year, is it possible to raise another one or two billion funds unplanned? ”

When Luo Shuohan heard this unreasonable request, he was immediately depressed: "Pony, financing is not what you think, you should buy vegetables." Every stroke I made was carefully calculated and said one by one, you can't ......

Are you for that chat history function? If you want me to say, don't follow, that kind of small function, how big a wave can it afford, how many users can be poached? Serious business users are not the target user group of QQ, give up if you give up, don't lose a big one. ”

Luo Shuohan usually didn't dare to speak like this in front of Ma Teng, but he was really forced to be a little nervous by the recent arrangement of the listing plan, and urgently let Ma Teng know that it should definitely not be a trivial moment now.

"It's not just for the chat history function!!" Ma Teng interrupted Luo Shuohan's cry sharply, "I have a bad premonition." You don't know that Gu Cheng used 25% of the equity of Legend Entertainment in exchange for Sun Zhengyi's letting go of YY, Alipay and Dingdang.

Gu Cheng was deliberate until Sun Zhengyi let go, and then came up with a plan to fight with QQ, and it was clear that there would be other big moves later. Whether it is a chat record or a serious business negotiation tool, it is definitely just Gu Cheng's first move. I'm not just raising money to follow up on this step – be prepared!"

As soon as he said this, Luo Shuohan was speechless.

Ma Teng's estimate is still very far-sighted, and now it is only April, and Gu Cheng has come up with this trick -- who can guarantee that he will only use this trick in the next year? If Tengyun does not have emergency funds, will he encounter other tricks to increase costs in the future, will he not be able to do it?

"Okay, I'll have to wipe this ass. Luo Shuohan took off his glasses speechlessly, rubbed the bridge of his nose fiercely, and tried to relieve the swelling pain in his brain and eyes, "But our listing schedule has been set, and the application has been submitted." It is not possible to issue new shares during this period. If you want to raise money without issuing new shares, you can only seek to sell equity to outsiders, and then invest the cash in the company in the form of loans......"

The trick that Luo Shuohan said almost made Ma Teng fall into an ice cave!

Instead of issuing additional shares, but selling part of the existing equity of the founders' team?

The company is about to be listed on the Hong Kong stock market in less than a year! After listing, the market value is at least several times the current valuation!

Historically, after Tengyun's shares were listed on the Hong Kong stock market, in 2004, they also rushed to a market value of 3 billion US dollars and a revenue of 1.1 billion yuan (more than ninety percent of them relied on selling members and various diamonds). ）

At the moment, the company is valued at only about $1 billion. If you sell the stock now, it is equivalent to throwing away twice the difference in the price of the part you sold!

But there really doesn't seem to be a better way.

Ma Teng struggled for a moment and commanded:

"You can arrange this, Tony and I will discuss it, the founder team will reduce its holdings by no more than 3% of the total share capital, and first get 200 million yuan to prepare, just in case.

Also, in addition to QQ members, other spaces, emails, these diamond sales business, must be sold quickly, after the main function is completed, the drill must immediately keep up. The game lobby is also going to sell diamonds.,The function of changing the skin of the QQ avatar that was mentioned last time.,It also has to be sold as soon as possible - by the way,It's called QQ show.。 Anyway, in a word, all businesses that can sell diamonds must be sold as soon as possible, and none of these charging points can be left behind before the summer vacation!"

Luo Shuohan thought about it, but he didn't have any opinion on this path, so he agreed: "Okay, I can arrange this matter." Help you contact a few people who know the goods. The price you ask for is still very easy to do, and I will let out the rumors of the success of the upcoming listing, and I can win it by doubling it. You can rest assured. ”

After that, Luo Shuohan flashed. Ma Teng also called Zhang Zhidong and told him about the plan to sell equity together and then lend money to the company.

Because of Gu Cheng's persecution, QQ's diamond selling business was forced to start about a year ahead of schedule, and Tengyun's marketing department will soon turn into a diamond maniac and sell diamonds frantically without discipline.