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The end of the year is approaching, there is a lot of entertainment, just woke up! The first is to ask for support!

There is only one problem before, now, and in the future: talent! High-end talents! This question is driving me crazy!

In an interview with the media, Song Chen complained to reporters about the difficulties faced by Chenxing's subsidiaries in a very humorous and exaggerated way, combined with what he wanted to express.

Afterwards, the reporters were also very "empathetic" to spread out the news of Chenxing's desire for talents again and again, leaving an impression of Song Chen's "thirst for talents" and "emphasis on talents" in the land of China

And this is indeed the case, on the one hand, Song Chen has extremely reduced the budget of office equipment, and warned his employees to be economical; In the company, suppress the radicalism of Alibaba's middle-level managers to open offices overseas! On the other hand, since the opening of Chenxing Company, its subsidiaries have never stopped recruiting all kinds of talents!

Unconsciously, he is not only famous in China and Asia, but also in the United States, especially Wall Street, has begun to pay more attention to him, praising him as China's Jeff Bezos: the same belief in frugality, the same emphasis on talent, and even the same importance of logistics from the beginning!

Soon after Song Chen's press conference, Song Chen suddenly became the cover darling of the newspaper media, and he stole the glory of too many people in history at one time...... Don't say whether it succeeds or not, at least before the Internet bubble crisis, Song Chen and Chenxing Company are destined to be the darlings of venture capital.

Chenxing's subsidiary, Baidu, has a C. {0,10}o.{0,10}m product department is currently the only website home specializing in website navigation in China, and has included thousands of websites at home and abroad. If it weren't for the channel through the guòQQ software, few people would know that the first portal that provided the most convenient Internet experience for "rookies" in the early days had only two or three people in the operation team, and it was not taken seriously in Chenxing Network at the beginning.

Because of the narrowband restrictions of the early Chinese network, the gif advertising of c.{0,10}o.{0,10}m made Song Chen and Yao Hua, CEO of Chenxing Network, feel that it was too early to promote the advertising business. So c. {0,10}o.{0,10}m, like QQ, is dominated by market share! This point, C.{0,10}O.{0,10}M has done a good job, and in the absence of competitors, it can almost be said that it completely covers the entire limited Chinese network market.

Really make C. {0,10}o.{0,10}m came into people's eyes and attracted the attention of advertisers, venture capitalists, and all Chenxing people after 8848 was launched.

Before the launch of 8848 on March 12, in order to open the market as much as possible, Song Chen ordered c. {0,10}o.{0,10}m's product manager not only placed the 8848 website in front of Alibaba on the e-commerce section and displayed it in color text, but also made a simple text advertisement gIF on the header: a sentence alternating between white on red and red on white - 8848, a new shopping experience without leaving home!

Maybe it's the media's propulsion, maybe it's the preference of all walks of life for e-commerce, maybe it's the curiosity of consumers, or maybe it's c. {0,10}o.{0,10}m's ads work surprisingly well...... Under the promotion of all parties, the e-commerce market has a certain consumption base, and there were more than 8,000 visits on the first day, and more than 2,000 IPs! Thirteen orders were placed, and the sales were close to 4,000 yuan, of which genuine games accounted for more than 8o% of the total value.

c.{0,10}o.{0,10}m almost became an instant hit with 8848, which relieved Baidu people who were difficult to come up with mature products in a short period of time...... Although this tone is very large, it is Song Chen's intentional or unintentional bias - in Yao Hua's view, QQ and c.{0,10}o.{0,10}m can be more effective when placed in the same company to raid the market...... Of course, Yao Hua is in C. {0,10}o.{0,10}m only spoke sour after becoming famous, and it was obviously a little late to say this.

The good start on the first day of 8848 also confirmed that there is a huge space for imagination in China, where the Internet infrastructure is basically missing! The results of the next 8848 are very encouraging for venture capitalists:

On the second day, 8848's daily visits exceeded 20,000, **IP exceeded 5,000, and 66 orders were placed, with a total value of about 20,000;

On the third day, the number of daily visits to 8848 has reached 60,000, more than 6,000 IPs, and one hundred and one orders, with a total value of about 30,000;

Day 4,......

Although most netizens are only interested in the site and do not place orders, venture capitalists are still aware that China's e-commerce market does have a lot to offer.

At first, Son favored Song Chen and valued Alibaba's assets at $250 million. To this end, with Sequoia Capital as the leader, including Kleiner Perkins Huaying, IDG, Yahoo and other venture capital groups came to Dongou City, and after some communication with Song Chen, they decided to invest 100 million US dollars in Alibaba and asked Song Chen to sell 28% of the shares, which Song Chen refused without hesitation.

Because he was not stupid enough to spend huge sums of money in the logistics industry, which was not profitable at all in the early days, Alibaba is not short of money at all now;

Moreover, if the venture capital injects $100 million, then in the next round of IPO financing, he is in danger of losing his controlling stake! In his plan, Alibaba has a total of two or three rounds of financing, which is not difficult! Even Alibaba saved a little, and the $50 million given by SoftBank Group was enough to survive the past three years.

Although he is very confident that he can make a difference in that bubble crisis, he is afraid that in case, no one in the speculative market can afford to pack a ticket, and he cannot afford to take this huge risk of "making a wedding dress for others"! At this point, the reason for the failure of 8848 in history has sounded the alarm for Song Chen: if it weren't for Su Qiqiang, Li Ruxiong and Wang Juntao's excessive financing guide zhì lost their controlling stake in 8848, and Wang Juntao's stubbornness in B2c, 8848 may not have ended miserably, leaving future generations to sigh!

The huge size of China's e-commerce on paper, the success of Amazon's listing, Alibaba's lack of money, and Lianbang Software's listing plan have virtually supported his confidence, and he has the capital to bargain with these financially powerful venture capitalists! But it is clear that Song Chen's "stingy" condition of selling only 2o% of Alibaba's shares at most has made venture capital nerves up.

Actually, Song Chen is not without troubles! For him, although Alibaba is not bad for money, he feels that it is necessary to swallow this "money"!

"First, Alibaba needs a lot of money in the future!"

In Alibaba's new conference room, Song Chen convened all of Alibaba's top executives to reach the necessary consensus on Alibaba's current favor with international capital. At the meeting, Song Chen, who was becoming more and more addicted to professors, once again played with chalk in his fingers, using a joke from Zhai Yue's private voice: This man has ADHD.

"The reason why a lot of money is needed, first: in addition to the large-scale promotion of the market, there is nothing to say, and the next step should be marketing; The second ......" Song Chen was silent for a moment, his eyes were deep and distant, as if he could pierce the sky, "Absorbing this capital can make these venture capitals with strong financial resources have no strength to reinvest in competitors!" Seeing that Alibaba and 8848 are in front of other VCs, if they want to support a similar e-commerce, they have to consider whether it is in their interests to fight in an immature market! ”

Zhai Yan, Cai Chongxin, He Yuntao and others were stunned for a moment, thought deeply, and were greatly impressed by Song Chen's words: "Not bad! ”

They recognized Song Chen's vision, but that didn't mean they had no objections.

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