Chapter 138: Investment in Pinduoduo!

After attending Liu Shishi's wedding, Zheng Wentong and his girlfriend played in Bali for two days before flying back to Puhai.

On January 28, Weiyin officially announced that Liu Shishi was the first spokesperson and released the official slogan: "Weiyin, record a better life."

The wonderful moments of Liu Shishi and Wu Qilong's wedding have been uploaded to Weiyin one after another, and Weiyin has always been very popular.

Many people specially downloaded Weiyin to watch the romantic scene of "Fourth Master" kneeling on the ground to propose "Ruoxi". Wu Qilong's words "I can be obedient" even hit the girlish hearts of many female users.

My aunt called Zheng Wentong and asked why he didn't come back to drink, and if he had a bad time with Yang Jianwu?

If Yang Jianwu and his wife do something wrong at work, you, the boss, should criticize and criticize, and never take it lightly for her sake.

My aunt gave an example of my uncle being the village party secretary. When the village wanted to raise funds to build roads, my aunt also had to work like other villagers. Otherwise, my uncle would not be able to command the whole village because he could not convince the public.

Zheng Wentong said there was nothing. Yang Jianwu and his wife did a good job at Weimeng Media, and Xiao Yang's wife was also doing a good job in live streaming and selling goods. Weimeng Media held an annual meeting on February 2 and then gave Yang Jianwu and the others a marriage leave after the annual meeting.

My aunt felt regretful, "I thought you could come back with Xiaolu to attend the Jianwu wedding, so I would like to say hello to Xiaolu."

Bai Xiaolu didn't understand, "Why don't you explain to your aunt? Actually, you don't want Xiao Yang to be an e-commerce anchor?"

"What did you say? I asked my aunt to persuade Xiao Yang to give up being an e-commerce anchor? How bad is it that the quarrel spread when the mother-in-law and daughter-in-law just got married? Maybe others would say that my aunt is a bad mother-in-law, let's talk about it."

"By the way, Liang Hui and Chen Dong have contacted Pinduoduo, and you can finish your internship when the investment plan on Pinduoduo is settled!" said Zheng Wentong.

Bai Xiaolu was a little reluctant, "Teacher Liang has indeed taught me a lot of things. She still has a lot of practical things in her belly. No wonder she is an EMBA lecturer in major universities."

Zheng Wentong guessed in his heart, "Teacher Liang may want to resign, so he wants to make a good relationship with you and leave a good impression on me."

"Ah? Why? Didn't she do a good job in the company?" Bai Xiaolu was surprised.

"I just guess that it will be clear when the Pinduoduo investment case is over." Zheng Wentong replied.

On February 1, Zheng Wentong and his party visited Pinduoduo Network Technology Co., Ltd., and Zheng Wentong also met Huang Zheng for the first time.

Huang Zheng shook hands on his own initiative, "I rarely see the founder of an Internet company younger than me, and Mr. Zheng's two Internet companies operate very well."

"E-commerce is a field where Penguin dares to challenge Ah Li. So far, only JD.com has survived. Although Mr. Huang's Pinduoduo looks small in scale, it has great potential."

Huang Zheng and Zheng Wentong are similar. They both have absolute control over the company under their name. When Pinduoduo was listed on the US stock market in 2018, Huang Zheng still held more than half of the shares.

Penguin is the second largest shareholder, Gaorong Capital is the third largest shareholder, and Sequoia China is the fourth largest shareholder.

If it were not for the intervention of slope investment, Gaorong Capital, IDG Capital and Hu Zeming would participate in Pinduoduo's A round of financing. Hu Zeming is the CFO of NetDragon Company and he has a close relationship with IDG Capital.

"I have also seen pictures and videos of Liu Shishi's wedding these days. Mr. Zheng is indeed a marketing genius and never lacks topicality. He is very similar to the founders of Ali and JD.com."

Zheng Wentong didn't quite agree with it. Compared to them, Zheng Wentong was more cautious in doing things. He would rather not do things that were not sure about.

He doesn't like to accept interviews, nor does he do stupid things to bombard banks as pawnshops. Zheng Wentong is not a Timberwolves fan, and he won't go to Minnesota for a walk.

"It is no longer the big marketing era in the 1990s. The golden age of advertising is king has passed. Now we need to subvert the original e-commerce landscape through new business models."

"I have carefully studied Pinhaohuo and Pinduoduo. The social e-commerce model has the hope of capturing a group of price-sensitive users." Zheng Wentong said to Huang Zheng.

"Actually, when Slope Investment first came into contact with us, we were really not short of money. There were many investment institutions outside who lined up to help us raise funds."

After all, Huang Zheng is starting a second business, and behind it is the support of bigwigs such as Duan Yongping and Ding Sanshi. Now he pays more attention to the resources behind it, rather than funds.

"However, although Mr. Zheng's universal WIFI was created later than the master key, he later took action and occupied more market share. After New Year's Day in 2015, he also obtained a security certification APP issued by the Ministry of Industry and Information Technology. The same application master key was not selected. Mr. Zheng has a lot of energy!" Huang Zheng said something.

"Oh? Mr. Huang may not understand the inside story. Unlike other shared WIFI software on the market, our universal WIFI never cracks the home network. Through the sharing of WIFI hotspot resources, we will not display the WIFI password explicitly. When the Ministry of Industry and Information Technology selected, the security standards of universal WIFI were indeed one level higher than those of the APPs such as the Master Key and WIFI partner."

"And we have actively turned off the access rights, storage, display, and prohibited malicious spread and automatic deductions. We try to use the smallest user rights to provide the greatest convenience. Just like Pinduoduo, we can buy the best quality products at the best price." Zheng Wentong said.

Bai Xiaolu sat behind her boyfriend, listening to the verbal confrontation between Zheng Wentong and Huang Zheng, she could now hear the subtext of the two people, and she felt that she was indeed growing rapidly.

Huang Zheng smiled, "We Chinese always say that there is no good product, but I don't agree with it, so we created good product to help sell agricultural products. This is similar to Weitou's spring seedling plan. We are all concerned about the rural market and want to take the road of surrounding the city in the countryside."

"I noticed that Toutiao also places advertisements on universal WIFI to develop users. Wechatou and Toutiao are both information platforms, and the content overlaps very well. Why didn't Mr. Zheng think about reducing the scale of Toutiao's advertising delivery?" Huang Zheng joked with Zheng Wentong.

"In addition to Toutiao, Kuaishou has also put a lot of advertisements on universal WIFI. Now our WeChat Xinke has also launched its own short video application, WeChat. Compared with Kuaishou, the industries of Internet companies are likely to overlap. Everyone still has to do business, who will not be able to get along with advertisers?" Zheng Wentong didn't care.

"But Toutiao and Kuaishou have increased their advertising investment in master keys and reduced the advertising costs of universal WIFI. Maybe they are worried that I can get stuck?" Zheng Wentong said.

Zheng Wentong has already considered it. When Slope Investment negotiates Pinduoduo's investment case, he will start to promote the merger of universal WIFI and universal keys, release the majority of equity, cash out and leave the scene.

"Pinduoduo has already placed advertisements on universal WIFI since January, and the effect is really good, and it has diverted many new users to our APP."

"Mr. Zheng Weitoutiao's spring seedling plan will also attract more users from third- and fourth-tier cities to register and join Weitoutiao. Compared with Weitoutiao, I value Weitoutiao's development prospects more. If Mr. Zheng intends to separate Weitoutiao from Weitoutiao, if Weitoutiao plans to raise funds, please be sure to contact me. Teacher Duan Yongping and I are very interested." Huang Zheng also expressed his true thoughts.

It is true. Zheng Wentong holds four Internet applications, universal WIFI, WeChat headlines, micro-sound and micro-reading.

The number of universal WIFI users exceeds 300 million, the number of Weitou users exceeds 100 million, and there are tens of millions of users in Weitou and Weidou. These users can all be converted into Pinduoduo users.

Users in third- and fourth-tier cities are more sensitive to prices and relatively speaking, they prefer small cheaper prices.

Universal WIFI can provide free networks and reduce mobile phone traffic, so it is even more popular in small cities with third- and fourth-tier cities, and almost everyone has one on their mobile phones.

The focus of Weitou’s Spring Seedling Plan is to support rural experts from all over the country, with 2,000 people, and a year-on-year guaranteed income of 120,000 yuan will attract more rural experts from third- and fourth-tier cities to register with Weitou and publish more original articles.

WeiDu is a free reading software, which is different from paid websites such as Lujiang and Tianxia.

Huang Zheng also noticed that videos such as fishing, blind dates, fruit picking, and grazing began to emerge on WeChat, which were closely related to rural areas and rural areas.

Since Pinduoduo intends to focus on the sinking market and fully develop new users in third- and fourth-tier cities, slope investment is obviously the best partner.

And the most important thing is that Slope Investment is different from Ali and Penguin, the two giants, and will not seek control of the company.

Huang Zheng noticed that if Weiyin develops, it may open up e-commerce channels and monetize traffic, but it will take at least two or three years. In another two years, Pinduoduo may have been listed, and Huang Zheng felt that he didn't need to worry about it.

Huang Zheng and Zheng Wentong reached a round A financing on the same day. Slide Investment invested 9.9 million US dollars to buy 9.9% of Pinduoduo's equity. Zheng Wentong's family office invested 100,000 US dollars, accounting for 0.1%, and Pinduoduo's A-round valuation was 100 million US dollars.

Zheng Wentong promised to at least follow up on Pinduoduo's D round of financing, and Zheng Wentong would only invest in the name of his family office in the future.

If you invest in a company, you don’t want to hold such a high proportion of shares after you make the money. When the company’s valuation further rises, you either sell some of the old shares or follow them and add additional funds. Otherwise, your A-round financing shares will be diluted in the future.

Of course, if Pinduoduo wants to go public, it still needs to set up an offshore company overseas and adopt a VIE structure. At that time, Zheng Wentong's family office buys 9.9% of the shares held by Slope Investment when following the investment, and Zheng Wentong's family office will hold 10% of the shares of Pinduoduo.

Pinduoduo went public in July 2018, and there was still plenty of time left for Zheng Wentong. After all, Ethereum and Bitcoin have generally risen since August 2015.

The peak market value of Pinduoduo is 200 billion US dollars, so the equity held by Zheng Wentong's family office will be worth 20 billion US dollars. This part of the wealth alone has already made him one of the top ten Chinese richest people.
Chapter completed!