I Won a Prize of 100 Million at the Beginning, and I Became a Capital Boss

Chapter 209 Obtaining a third-party payment license!
As of mid-September, Toutiao had more than 9 million active users, Wei Toutiao had 6 million users, Weiyin had 3.6 million domestic users, and 9500 million overseas users, adding up to just over 600 million.

In May of this year, Toutiao launched Toutiao Video and Toutiao Novel. In August this year, Toutiao Video was renamed Xigua Video, and Toutiao Novel was renamed Tomato Novels. Tomato Novels also adopted the model of free reading + advertising.

Zheng Wentong knows that Byte has been developing their own short video applications. For example, they are preparing an app for the 15s original small video community of life, which is the small video of the volcano.

Byte also intends to create an APP similar to Weiyin’s music creative short video, which is also the main APP promoted by Byte.Zheng Wentong registered the trademark name of Douyin in advance, and he was also curious about how Byte would name it, but he didn't expect them to name it Jiaoyin.

Zhang Nan, head of Byte’s short video application, said in an interview that the reason why their team named this music creative short video application Jiaoyin is because Gong, Shang, Jiao, Hui, and Yu are the five tones of the Five Dynasties in my country. Similar to 1, 2, 3, 5, 6 in numbered notation, the angle is equal to 3 (Mi),

Corner is the most important tone. The English name of the app is Join, which means to unite and join. We hope that more users will participate in music creative short videos.

Zheng Wentong saw Zhang Nan's interview, and said to Bai Xiaolu: "Gong Shangjiao Huiyu, the character of Jiao is pronounced jue, and the second tone corresponds to the traditional Chinese five-element culture, gold, wood, water, fire, and earth. Among the five tones, there is the so-called most important tone. It’s better to say it’s a transliteration of the English name Join.”

Bai Xiaolu said: "Didn't you say that the short video application launched by Byte will be Weiyin's strongest competitor? It is strange to say that Kuaishou is the short video application with the largest number of users. It feels like you and Byte Don't you pay attention to Kuaishou?"

Zheng Wentong is happy. The target audience of Kuaishou short videos is the grassroots. The short videos are filled with a lot of vulgar and spoof content, but there are not many high-quality original content.

Most of them are imitations, so everyone says that there are many veterans among Kuaishou users.After Byte spent 10 billion yuan to promote Douyin, the users of Douyin quickly overtook Kuaishou and have been far ahead, and the valuations of the two are far apart.

If Zheng Wentong hadn't stepped in, Gu Xiao should have become the head of Kuaishou e-commerce, and Zhong Yiqi would have joined Kuaishou as CFO. Unfortunately, Gu Xiao is now the deputy general manager of Weimeng Communications and the manager of the e-commerce live broadcast business department. Zhong Yiqi Qi is now the CFO (Chief Financial Officer) of Weike Xinke and the CFO of Ramp Investment.

During the Puhai joint investigation team stationed in the slope investment tax inspection, Zhong Yiqi’s professional ability and personal integrity won the trust of Zheng Wentong. Weike Xinke completed the A round of financing in the first half of the year, so Zhong Yiqi was promoted from the financial director to the CFO , Wang Zhiliang was promoted from technical director to CTO, and Zhao Jianwei, a newcomer to the company, served as technical director.

In fact, Zheng Wentong has long been eyeing Byte's Zhang Nan, a post-80s office worker who is also a rare Internet talent.The picture app she developed was acquired by ByteDance, and finally took charge of Byte’s UGC business, and then successively incubated a variety of applications such as Douyin, Volcano Video, Watermelon Video, etc., and finally became the CEO of Douyin. After Zhang Yiming retired, Byte Changed its name to Douyin Group, and Zhang Nan also became the CEO of Douyin Group.
Zheng Wentong contacted Zhang Nan through a headhunting company, and directly offered a million annual salary plus 1% equity incentive in the future, but Zhang Nan thanked Zheng Wentong for his olive branch, but he was not interested in joining Weikexinke. It's not just money that can impress her.

You must know that Weike Xinke had just completed the A round of financing at that time, with a valuation of more than one billion US dollars, and the equity incentive alone was worth 7000 to [-] million, but Zhang Nan still rejected Zheng Wentong's poaching.Zheng Wentong regretted that he could not meet Zheng Qiudong from "The Hunting Ground", otherwise he would have found an excellent person in charge for Weiyin's business.

Zheng Wentong felt that he should not focus on the domestic market, and could look for more high-level management talents in Hong Kong Island or Singapore.

He explained to his girlfriend why he paid more attention to visual angles, "In March this year, Kuaishou just completed the C round of financing, with a valuation of 3 billion US dollars. Three led the round, raising $19.23 million."

"But ByteDance is in contact with CCB International and Sequoia China. They plan to complete a financing of US$10 billion before New Year's Day. The company's valuation is US$100 billion. ByteDance and Kuaishou are not at the same level at all. company."

"Kuaishou now has 3 million users, and it may reach 4 million next year. It seems to be much more than Weiyin, and its valuation is also higher than Weike Xinke."

"It took about 9 months for Weiyin to accumulate the first 1 million users, but it may only take four to five months to grow from 2 million to 2 million. Before the Spring Festival, Weiyin's users will exceed [-] million, and next year the number of users will increase. Anti-super fast hand."

"Weikexinke was valued at US$10 billion in Series A financing in the first half of the year, and now external investors have valued Wekexinke at about US$16 billion. The revenue situation is also better than that of Kuaishou. At that time, we will launch e-commerce business faster than Kuaishou. At that time, the valuation of Weike Xinke will rise, and the gap with Kuaishou will be widened soon. Why do you think I should worry about Kuaishou? " Zheng Wentong asked his girlfriend.

The domestic short video market is destined to be dominated by Weiyin and Jiaoyin, Kuaishou is the second echelon, and Penguin Weishi is the third echelon.

However, the launch of the short video app Jiaoyin by ByteDance gave Zheng Wentong a sense of crisis. On September 9, Weike Xinke acquired Puhai UnionPay Electronic Payment Service Co., Ltd. (hereinafter referred to as UnionPay Electronic Payment) with 20 million yuan. UnionPay Electronic Payment is a wholly-owned subsidiary of the state-owned enterprise UnionPay Commerce.

UnionPay Commerce originally planned to transfer 4% of the shares at a price of 90.1 million yuan. Zheng Wentong raised the price and finally bought 4% of the shares at a price of 5000 million yuan.There are multiple third-party payment licenses under the name of the state-owned UnionPay Commerce, and they are integrating resources.Compared with 100% equity, Zheng Wentong, who is not short of money, thinks that 90.1% equity transaction is more attractive.

UnionPay Electronic Payment is the second batch of enterprises to obtain the "Payment Business License" issued by the central bank. It was approved to carry out Internet payment and mobile phone payment business in 11.At present, it can provide customers with comprehensive payment services covering personal online banking payment, corporate online banking payment, agreement payment, mobile payment, commercial entrusted payment, and agency payment. This third-party payment license covers a very wide range of business and has a high gold content.

People in the industry are waiting to see when Weike Xinke will launch e-commerce business, because after obtaining the third-party payment license, Weitoutiao and Weiyin can carry out e-commerce business at any time.

On September 2016, 9, the industrial and commercial license of Weikexinke was changed, and the business scope added e-commerce and online payment business.

Weitoutiao has started to test the e-commerce business. The first types of online products include books, stationery, toys, furniture, fruits and handicrafts. The handicrafts include Tongji bamboo weaving, Longcheng combs, Gusu embroidery, oiled paper umbrellas, and Weizhou kites. , Qin Sheng paper-cut and so on.

When the Weitoutiao chat function developed by Zhao Jianwei's team goes online, Weitoutiao real-name authenticated users can link to the shopping cart on Weitoutiao and place orders directly on their personal homepage.

Once the chat function is launched, consumers can communicate with merchants one-on-one. Otherwise, if there is a quality problem with the product, consumers will not be able to find anyone for a while.

On Weitoutiao, Sannongda people don’t need to pay to bring goods. They only need to meet a few conditions, account real-name authentication, the number of fans exceeds 1000, and the number of published works exceeds ten.Therefore, the Sannongda people who enjoy the subsidies of the Spring Seedling Program will be the first batch of individual merchants on Weitoutiao. For example, Uncle Ang Wang in Yading, Daocheng, can also sell their yak jerky through Weitoutiao.

The Wei Toutiao accounts of individual merchants can simultaneously display the video content shot in their Wei Yin.If you publish more than 10 works and have more than 1000 fans, you can activate the product sharing function. After successful activation, you can get a personal e-commerce window. When you have an e-commerce window, you can add product links and sell them when you publish your works.

Individual merchants with monthly sales of less than 3000 yuan do not charge any fees, and merchants with monthly sales of more than 3000 yuan will be charged a technical service fee of 0.5% to 2% according to the sales volume.However, individual merchants who complete transactions through UnionPay electronic payment only need to deduct 0.38% of the platform service fee, which is the same as the rate of Alipay and WeChat.

3000% for sales of 2 to 0.5 yuan, 2% for 10 to 1 yuan, 10% for 30 to 1.5 yuan, 30% for more than 2 yuan. After enough individual merchants have been cultivated on Wei Toutiao , Wei Toutiao will start listing traffic promotion fees, which is also Ahri's most important source of revenue.

Ari’s e-commerce business has an annual revenue of nearly 6 billion yuan. It does not rely on ordinary consumers to make money. As a platform side, he earns income through advertising on Taobao and Tmall stores.The upper limit of the advertising fee for Wei Toutiao's traffic promotion is [-]%.
Weiyin currently has less than 1 million users. Zheng Wentong has no idea of ​​developing e-commerce business on Weiyin. When Weiyin’s users reach 3 million or 4 million, it will start e-commerce business at that time.

According to Zheng Wentong's estimation, the scale of Weitoutiao's e-commerce business is very small, and the revenue in the first year may be less than 100 billion, which may not be comparable to Weimeng's one-year live broadcast sales. Not on Weimeng Media’s live broadcast e-commerce business.

Weitoutiao’s launch of e-commerce business does not pose a big threat to Ari. Ari’s main focus is still on JD.com and Pinduoduo.

Moreover, the launch of Wei Toutiao's e-commerce business has further increased the valuation of Weike Xinke.According to the judgment of investors in the industry, if ByteDance completes the D round of financing at the end of the year, with a valuation of about 100 billion US dollars, then Weike Xinke’s valuation will be at least 1/4 of the byte, and the valuation will be around 25 billion US dollars. Ahri’s US$8000 million investment in Weikexinke has also become US$2 million.
　On the first day of work, adjust your status. There are a lot of things at work, and tomorrow will be three more.Thank you for your monthly tickets and star field Wuyu for your rewards!

　　
　
(End of this chapter)