Baidu, who intends to expand in the area of ​​life services, promptly extended his hands and acquired 59% shares in August 2013 for US$120 million. In January of this year, Baidu announced that it had reached a wholly-owned purchase agreement with everyone, and the formal transfer of the two parties was completed. Selling this "burning little goblin" at the price of more than 200 million yuan, Koizou thinks this is a step-by-step game. After all, people who have suffered consecutive losses are already unable to burn. Facts have also proved this point. Selling rice twice in two consecutive months has allowed everyone to achieve a net profit for three consecutive quarters.
However, it was not long afterwards. His lack of blood-making techniques was reintroduced in the third quarter of last year and the net loss increased to nearly $40 million. At the same time, the strategy of mobile internetization and returning to campus has not seen any results. With the slogan of a "mobile entertainment community that 200 million people are using," everyone can't solve any problems. What should I do? The answer was to sell and sell a rice network in the hands of a rice dumpling. 56 years of distressed marriage is fancy to everyone's thick family, but did not think the local tyrants actually fell in the family, but also swept them out.
Although iQIYI, Tencent, Mango TV and other companies are asking for prices, Chen Yizhou hopes to sell 56 a good price and did not immediately agree to them. The half-dead 56 is no longer worth a few copper boards, and dragging one more day is actually no good. At the end of October, everyone reached an agreement with Sohu and Chen Yizhou’s old club won 56 with a discount price of nearly US$20 million. As a "stock god," Chen Yizhou has always been skillful in the investment field, but 56 nets have devalued more than 60 million in his hands. Although "one world name was destroyed," Lao Chen refused to care for so many companies.
In addition to the Demeter and the 56-net, the game that was once hoped for and even expected to be listed independently has been stagnant in the past two years. In the Internet world, failing to advance means a significant step back. We will see that everyone’s games are forced to shrink, and even CEO He Chuan has suffered depression. In addition to social networking, Renren had a four-party matrix of group purchase, video, games, and recruitment. Now that the four corners have gone to the second place, games and recruitment are almost crippled. Already OUT of Renren, what else is there to talk about "return to campus"?
Du Yue, the vice president, said in his letter that the reason for his resignation was that "Chen Yizhou is very bad either as a leader or as a person." This letter of resignation written in English can be regarded as the most intensive language in the history of the domestic Internet circle, and even copied all executives, directors, investment circle celebrities and partners. Chen Yizhou was still on a business trip at that time. After learning of the situation, he said that “this is the most unexpected email received since the work†and that Du Yue is purely acting because of the hopelessness of being a CEO.
It can freeze three feet a day, the Renren network has stagnated in recent years, and morale has fallen. It was not only Du Yue who had been attacked. Two days before the shelling incident, another person, Yang Muhan, was also in conflict with Chen Yizhou. Because her husband Xu Chaojun's multiple projects that had left her business venture had a competitive relationship with the old owner, Yang Muhan was accused of “not loyalty to the company and his mouth is in his mouthâ€. In fact, everyone inside has highly valued her. Moreover, Yang Muhan himself had already resigned two months before the conflict occurred. However, Chen Yizhou hopes that she can stay and will continue to retain her.
Seeing Chen’s "splitting personality" behavior, Xiaonei could not help but squeeze everyone's colleagues. In the turbulent six months of the year, many executives were really "scared away" by him. Seven people actually left the company. When these people veterans talked about Chen Yizhou, although they were not as extreme as Du Yue, they also said that he had major problems in employing people. He also agreed that this was the key reason why everyone fell.
Speaking of Chen Yizhou’s misconduct, Xiaonei thought that he was wrong in thinking that things were too beautiful. In order to introduce fresh blood to enhance the team's vitality, everyone strongly recruited many foreign executives. For the purpose of promoting internal competition, Chen Zhou also put new and old employees in a similar position. Reality has always been a bone, and this arrangement has actually led to internal friction. As a result, everyone's old employees have been losing, and team morale has plunged. How can a distracted team be undefeated?
"Flying stocks" to the end
Seeing here, everyone may think that the conclusion of this article is that Renren is not a game, and Xiaonei thinks this may not be the case. Although Chen Yizhou has experienced deviations in his management and lacks sufficient vision in his strategy, he is still able to base himself on the internet by virtue of his unique skills in investing in stocks. In addition to the previous misfortune of investing 56 in the net, Lao Chen had frequent moves in this area. He seized the fighter plane again and again, and through investing in eLong, Weipinhui and other companies, he gained more than 4 times of earnings to stabilize everyone's financial status. Chen Yizhou used his own strength to rely on stocks to make money to maintain the company's business. It was actually a "good boss of China."
During the period when everyone was selling, selling, selling, and executives walking, Chen Yizhou frequently invested in the investment and even extended it overseas: In early 2014, everyone invested US$70 million in the U.S. P2P student loan website SoFi; 5 In the month, everyone led the fundraising website Fundrise, with a total of 31 million. In September, Chen Yizhou fought in the domestic C-round of snowball nets for a total amount of 40 million yuan. In November, he also obtained 10 million investment in the Hong Kong company. A 10% stake in GoGoVan, if you count the 40 million invested in Motif Investing earlier this year, everyone invested nearly 200 million in funds in projects around the world in the past year.
In addition, Chen Yizhou also said that everyone will focus on reinvesting about 500 million U.S. dollars into Internet finance startups. In fact, they have already started to test water internet finance by stages. However, they have not achieved too much in the case of a decline in popularity of the website. Xiao Chen feels that our “stock god†Joe Chen estimates that he has no interest in playing SNS anymore. The capital market is his real stage. If he can be as “hearty†as Chen Tianqiao, it will not necessarily be impossible to sell Renren completely to capital operation.
Looking back at Renren's network after Chen Yizhou entered the Lord from prosperity to a gradual decline, Xiaonei could not help but think of a famous historical figure – Li Cunxiong of Hou Tangzhuangzong. The "Zhu Xia Zi" once laid the majority of the world, and almost revived the Tang Dynasty. After the great accomplishment, Li Cunxi was obsessed with his deep love of musical drama, even appointing a monk to be in power, and eventually buried his own country.
Renren’s network has not been revitalized without being recognized by young people. No matter what new actions they will have after the downline station letter, I am afraid that continuing investment is a matter of urgency. As Chen Yizhou spreads funds to more projects, everyone will go step by step in the capital field. As for "return to campus"? forget it.
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