Chapter 84 At the press conference

Author: Crow One

Chapter 84 At the press conference

"Hello everyone, thank you for attending today's press conference. We are also honored to invite Mr. Newman Zhou, the current leader in the field of electronic payment and one of the most outstanding technological innovators in Silicon Valley today, to attend our press conference.

I am pleased to announce that Confinity successfully received US$5 million in angel round financing from Deutsche Bank and Nokia Investment Fund.

Since its establishment, Confinity has been committed to providing safe, convenient and efficient solutions for the Internet payment field.

Today's investment will help us scale up, expand our business, and further advance our technological innovation.

We believe that this investment will bring more opportunities and challenges, and will also allow us to better provide value to our customers.

At the same time, we would like to thank our investors Deutsche Bank and Nokia Investment Fund for their trust and support in us. Their joining will provide us with more resources and experience, allowing us to better achieve the company's development goals

.

Finally, I would like to thank everyone again for coming and look forward to working with you in the future, thank you."

Peter Thiel has a typical white appearance with slightly curly chestnut hair. He nodded towards Zhou Xin when he mentioned it.

Not many reporters were willing to participate. To be honest, Confinity is not a big company and there are many small start-up companies like Silicon Valley.

Nokia Investment Fund and Deutsche Bank's investment arm are also relatively unknown.

Now, the entire restaurant conference hall was filled with reporters. It was because after Zhou Xin agreed to attend the product launch conference, Peter Thiel released the news to the reporters, and the reporters came in droves.

Confinity has no interview value, but Zhou Xin does. Zhou Xin is currently the most talked-about person in Silicon Valley, especially after the launch of Quora's threshold exam.

Even Deutsche Bank and Nokia Investment Fund originally only sent an investment manager. After learning that Zhou Xin would participate, Clausen, the head of Deutsche Bank's VC department, and Kleist, the head of Nokia Investment Fund, attended the press conference.

Before the press conference started, the two responsible persons also chatted with Zhou Xin for a few words.

"We have asked Mr. Clauson to transfer this investment directly to us through a handheld computer on behalf of Deutsche Bank and Nokia Investment Fund."

This is also a gimmick deliberately set up by Peter Thiel, an investment of five million US dollars, transferred directly through electronic payment.

Originally, the reporters focused their attention on Zhou Xin, thinking that they would surround Zhou Xin and ask him questions later, but now they were attracted by this novel transfer method.

PDAs were not uncommon at that time. In the first half of 1999 alone, PDA sales were 650,000 units. This is sales volume, not retention. The number of PDAs in existence was even greater.

Although it cannot be compared with desktop computers, it is definitely not a niche computer device.

Especially for the text-based professionals here, PDAs are even more popular.

Only when Zhou Xin saw the PDA did he realize that he could do this. PDA has requirements for chips, but the requirements are not that high.

It is entirely possible to use PDA as a carrier to build an industrial chain around PDA in China, and then directly transform into smartphones when the mobile Internet comes.

"This matter needs to be carefully considered. I don't know anything about PDAs. This market is completely different from mobile Internet and smartphones. If I rush into this thing, I can't guarantee that I will succeed.

But PDA is a very good direction for me. I have been in Americen for more than a year, or almost a year since I came to this era, and I still have not integrated into this era.

I still don’t think enough about what I can do.” Zhou Xin thought to himself while sitting in the audience.

He originally wanted to start with the integrated circuits used in game consoles, and then transform into smartphones in the mobile Internet era.

But after looking at the PDA, he realized that the PDA model seemed more suitable.

Because he didn't know enough about games, the only games he could reproduce for later generations were "Angry Birds", "Plants vs. Zombies" and a few other puzzle games.

He neither has time to play other masterpieces, nor does he know how to reproduce them.

While Zhou Xin was thinking, Peter Thiel and Clawson had already completed the transfer on the stage.

The reporters in the audience were also whispering. They were all reporters from Silicon Valley technology media and interacted with each other.

"It looks pretty good. This method is much more convenient than going to the bank to transfer money."

"No, no, no, I have used Confinity's products. Their products do not require a password and only require you to enter the amount and account number to complete the transfer.

This security risk is too high.

It's equivalent to losing your PDA and if you forget to unbind your bank card, all the money in your account will be withdrawn."

"No password? Are you sure?"

"I'm sure they don't need a password. Compared with NewPay, their method is too insecure."

After NewPay received US$100 million in financing, it not only began to promote integration with major online shopping websites into each other's websites, but also advanced negotiations with major banks.

Silicon Valley is not as close to Washington as Wall Street is.

For NewPay, Silicon Valley pays more attention to the usage level. As an infrastructure, it can bring changes to the entire Internet ecosystem.

Wall Street and Washington are more concerned about the risk control measures adopted by NewPay and how to avoid security risks in electronic payments.

After the bank card is associated with a mobile phone number, the transfer requires entering a password and SMS verification code. This method requires the cooperation of the bank.

Because before NewPay made such a request, no bank would require users to bind their bank cards and mobile phone numbers.

Originally, Americen had to wait until 2003. After the Federal Trade Commission promulgated the Anti-Spam Act, some banks and financial institutions began to require users to link their bank cards and mobile phone numbers and conduct verification.

The bill sets out a series of requirements, including a prohibition on sending false or misleading commercial emails, while also requiring emails to contain true contact information. This typically requires including the sender's name, address and phone number.

NewPay is now promoting this matter. If your bank card is bound to a mobile phone number, you will need a SMS verification code. If it is not bound, you will need a password.

In other words, the measures taken by NewPay are likely to be adopted by Washington and become a common standard across America.

Wall Street values ​​NewPay's ability in this area more, so Goldman Sachs and Morgan didn't even blink when they heard about the valuation of one billion US dollars and the A/B share structure.

"The next step is question time. If you have any questions about Confinity, you can ask us at any time."
Chapter completed!