diymy Chapter 150: Successful Bet, Making History, Giants Covet the Opportunity
Chapter 150: Successful Bet, Making History, Giants Covet the Opportunity
Chapter 150: Successful Bet, Making History, Giants Covet the Opportunity
"Yes." Shen Nanpeng nodded.
"I carefully analyzed the complete logic of Geng Zhigang's speech at the press conference, and combined it with his views when he last sought funding from us. This is the only possible explanation."
He paused, then added, "Geng Zhi is a very thoughtful and ambitious person. His strategies and his insight into the development trends of the Internet may not be inferior to Wang Xing of the American team."
Yang Dong nodded thoughtfully.
His mind began to flash wildly back to those times—
360's free model, its straightforward "gateway to a new era" theory mentioned during its last round of financing, and that memorable statement it made when answering a question:
Sometimes, traffic isn't in the channels, it's in people's hearts. If you find that right spot in people's hearts, traffic will come to you.
After a long silence, Yang Dong finally spoke again.
"Neil, I understand his logic of completely abandoning the traditional profit model of stranger social networking software and taking the path of traffic monetization." He paused, his brows furrowing, "But his idea of shaking up Renren.com and Tencent's QQ—I still think it's a bit of a pipe dream."
Shen Nanpeng nodded without refuting.
"Actually, I haven't fully figured out exactly what he's going to do either, but I feel like that's the direction he's heading." He turned to look at Yang Dong. "Maybe he has a backup plan. Talk to him more when you have time and find out what's going on."
Just then, Shen Nanpeng received a text message from Geng Zhi, requesting a frank discussion about the free service.
In the temporary office of the press conference at the Shanghai National Convention Center.
"Holy crap, Mr. Lü, the number of concurrent users on Momo is about to break the warning line again!"
Jia Zhenbiao's voice was a mixture of fear and excitement, his eyes fixed on the numbers flashing on the screen.
Lu Sifeng leaned over for a look, a vein throbbing slightly on his forehead: "Double the capacity again, and put all the backup servers on hold!"
This is the second time that traffic has approached the warning line.
Amidst the chaos and turmoil, Geng Zhi pushed open the door and walked in.
"The boss is here!" Lu Zhijie shouted.
Snap! Snap! Snap!
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"The boss is awesome!!"
"Congratulations, boss!!"
Cheers erupted in the room.
Niu Baoguo stepped forward first and gave Geng Zhi a big hug.
Next came Lu Zhijie, Guan Peidong, Yang Mingxia, and Lü Sifeng—each giving Geng Zhi a high-five in celebration.
"This press conference was a great success. Thank you all for your hard work!"
"Boss, you work the hardest!"
Two minutes later, the atmosphere in the room finally calmed down.
Just as Geng Zhi was about to ask about the registration data, Ma Tongtong rushed towards him, her face beaming with excitement: "Boss, we've exceeded our target! The total number of registered users has surpassed our preset goal of 20!"
"Oh?" Geng Zhi, who had been on edge all day, finally relaxed and grinned. "How much over?"
Ma Tongtong looked smug and deliberately kept everyone in suspense: "Boss, guess what?"
"25? 28? 30?" For every guess Geng Zhi made, Ma Tongtong shook her head.
"Oh, Sister Tongtong!" Yang Mingxia, standing beside her, was already bursting with laughter. "Stop keeping us in suspense! Look how anxious our boss is! Hahaha!"
Ma Tongtong coughed lightly, cleared her throat, and then slowly began to speak: "As of now, Momo has a total of 38.6 registered users, with a peak concurrent user count of 19.9."
Ten thousand!"
"Really?" Geng Zhi smiled calmly on the surface, but his heart was in turmoil, and he could hardly believe it.
"Boss, it's actually fake." Lu Zhijie next to him quickly shook his head, looking very serious.
Geng Zhi was taken aback.
"Because in the short time since you entered, the total number of users has already exceeded 42! And it's still rising!" Lu Zhijie added.
"Holy crap?" Geng Zhi immediately rushed to Lu Zhijie's computer and discovered that every time the background data was refreshed, there were hundreds of new users.
On the surface, he only shook his head slightly, but inside he was thinking, "Holy shit! Holy shit! Holy shit!"
Considering that many of the users watching the Momo press conference livestream didn't actually own smartphones, he originally estimated that getting 20 registrations by the end of the conference would be quite good.
It has now doubled, which is indeed far beyond his expectations.
At this growth rate, with the subsequent natural promotion from major news media, it should be able to break the million-user mark in another four or five days.
"What did we do right?" he asked subconsciously, as if asking someone else, or perhaps himself.
"An exceptional product experience, the boss's charismatic personality, and Han Han's divine assistance," Ma Tongtong blurted out after pondering this question for a long time.
"Yes, boss!" Yang Mingxia, who had been monitoring online public opinion, quickly added, "Your immense popularity goes without saying, and Han Han's fans have also contributed significantly! The discussion on his blog and Weibo has skyrocketed!"
"I think the boss made a really wise choice in choosing Han Han," Ma Tongtong analyzed. "Han Han's fan base highly overlaps with our target audience at Momo—young, curious, and willing to try new things."
"Most importantly, Han Han not only endorsed Momo, but they also did it for free." A familiar voice came from behind.
Geng Zhi turned around and saw Gu Wan Ning standing at the door with a smile on her face.
"The proprietress is right!" Yang Mingxia then added, subtly implying her straightforward and opportunistic nature.
The room erupted in laughter.
I don't know who started it, but now everyone in the company knows that their boss owes his wife a huge amount of legal fees.
After everyone finished laughing, Geng Zhi said, "Yu Jiao has already made reservations; tonight, everyone's eating at a street food stall!"
"Yay!!"
As soon as the Momo press conference ended, short and fast-paced new media such as Weibo became the first to buzz with activity.
In less than half an hour, hashtags such as #MomoFreeFor100Years#, #HanHanSurpriseAppearanceAtMomoPressConference#, #HelloStranger#, #PleaseGetOnTheWall#, #Bored?UseMomo#, #MomoRaises300MillionUSD#, and #StraightforwardQuotes# all trended on Weibo's hot search list.
The first four trending topics were all related to Momo. Seven out of the top ten were related to Momo.
A fan of Geng Zhi meticulously compiled eight of his most memorable quotes from the press conference, created a nine-grid image, and posted it on Weibo along with a photo of Geng Zhi giving his speech.
This Weibo post was shared over 10 times in half an hour, and the comment section was flooded with messages like, "Everything Boss Geng says can be a life motto!"
"[When you know you're right, there's no need to rush to explain; time will prove everything.] This quote perfectly describes me right now—it's so soothing!"
"[The customer is king, how can you expect the king to pay? The king must be served.] This statement is absolutely right! Every company boss should learn this!!"
Later that day, major portal websites began publishing articles related to Momo's press conference.
NetEase News: "Momo's press conference goes viral; 8 straightforward quotes ignite the entire internet."
Xinlang News: "Han Han makes a surprise appearance at Momo's press conference, his straightforward interaction ignites the entire audience."
Tencent News: "Straightforward: From 'Industry Expert' to 'Mobile Internet Prophet'"
Sohu News: "Momo will be free for 100 years, has it gone mad with its straightforwardness?"
These breaking news articles prioritize speed and dissemination, with each headline more eye-catching than the last.
Subsequently, professional commentary articles began to circulate in technology/internet circles, finance/business, and investment and financing media.
"Momo Press Conference Recap: 49 Days of a 'Mingfan' and a Textbook Comeback," "Straightforward: From Entrepreneur to 'Mobile Internet Promoter'," "Momo Announces '100 Years of Free Service,' Is the Mobile Internet Entering a 'Free Era'?", "Momo, Why is it Valued at $3000 Million?"
These professional articles contain personal insights, assessments of industry trends, and questions about business models, but the vast majority of them praise honesty.
The industry has generally labeled Geng Zhi as a "mobile internet gold digger," a "pioneer of the new social wave," and a "trendsetter of the new era."
Several influential bloggers also wrote articles that provided in-depth commentary on the innovative format of Momo's press conference.
Some analyzed the pacing of the press conference, some analyzed Geng Zhi's speaking skills, and some analyzed the publicity effect brought by Han Han's appearance. Some articles even gave Geng Zhi the title of "the pioneer of software product launch conferences".
On the other side, in a Western restaurant by the Bund.
Outside the window, the dazzling night view of the Huangpu River unfolds, with the lights of the Oriental Pearl Tower reflected on the water. Cruise ships glide by slowly, leaving trails of shimmering light in their wake.
Zhu Xiaohu, Li Kaifu, and Xu Xiaoping sat by the window, with an exquisite Western meal laid out on the table and red wine gently swirling in their glasses.
During the meal, the three of them naturally had to talk about the Momo app and its business model.
Xu Xiaoping and Zhu Xiaohu explained the product logic that Geng Zhi had told them during the roadshow to Kai-Fu Lee in detail and asked for his opinion.
"I am very optimistic about Momo's product model. Our Innovation Works will also focus its future investments on the mobile internet, learning as we go. I am optimistic about social networking, location-based services (LBS), and mobile entertainment."
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Kai-Fu Lee put down his knife and fork, picked up a napkin to wipe his mouth, and then changed the subject: "But I still don't have a good opinion of the straightforward free model. If you want to achieve 0 IPO as soon as possible, you have to prove that the product is profitable, which Momo doesn't have yet."
"I agree with Kai-Fu's point of view. Whether the monetization is done through GG or game co-publishing, a large user base is needed as a foundation. And this is not easy to do; there is a long way to go," Xu Xiaoping commented.
"Gengzhi is learning from 360's free model." Zhu Xiaohu has a different opinion: "Using free services to leverage huge traffic, first expanding the market, and then considering monetization. I think Momo might have a future."
"360's free logic is correct, but it may not be applicable on mobile devices." Xu Xiaoping shook her head. "The scale of mobile devices is not large enough, the network effect cannot be compared with that of PCs, and antivirus software is a necessity, which Momo has not yet reached."
"Teacher Xu, if Momo adopts a paid model, this path is feasible, right?" Zhu Xiaohu asked, trying to confirm.
"Hmm." Xu Xiaoping nodded. "Momo's press conference this time should have been quite successful. If they had adopted a paid model in the early stages to prove that the profit model was feasible, the valuation could have been twenty or thirty million US dollars. But Gengzhi chose the free route."
"What's wrong, Xiaohu? You have a potential investment target?" The quick-witted Kai-Fu Lee suddenly asked, his gaze falling on Zhu Xiaohu's face.
Zhu Xiaohu's heart skipped a beat, but he remained outwardly calm.
"No," he said with a smile, shaking his head, and quickly changed the subject. "Kai-Fu Lee, Professor Xu, how about the three of us invest in Momo's Series B round together? I still think Momo's future is limitless."
"Sure, we'll keep track of Momo's progress as it goes on." Kai-Fu Lee nodded and continued, "If any of us come across other similar projects worth investing in, let's share them and invest together. We don't have to be tied to Momo alone."
Zhu Xiaohu swallowed hard upon hearing this, but did not reply.
Actually, on his way to dinner, Gangwa received a business plan from Li Haipeng about a product called [Weiju].
Weiju is also a mobile product, covering the fields of general social networking and dating, and it has a clear business model, charging users from the very beginning.
With Momo's high valuation serving as a model, coupled with Li Haipeng's demonstrated abilities in the Jiaotong University matchmaking project, Zhu Xiaohu judged that the chances of Weiju Energy succeeding were greatly reduced.
He is seriously considering it, but he doesn't dare to share the project with the two senior colleagues from Mianjue.
He was afraid of being robbed again, so he wanted to ride alone.
Meanwhile, in Hong Kong.
After returning to the shared office space of Arctic Capital, Li Dongping began a new round of busy work.
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During this period, his boss first assigned him several domestic projects, but none of them were finalized. Recently, he was assigned a new task: researching European and American projects. His workload has become extremely heavy.
In fact, according to the contract, most of the work assigned to him by the boss behind the scenes was outside the contract, and he was not given a raise. He had every reason to refuse.
But Li Dongping did not.
After joining Arctic Capital, he gradually regained his previous work rhythm and became more energetic.
His mindset has gradually shifted from the initial role of a mere employee who simply takes money to do things to the role of a true investor.
Although the salary is high, Li Dongping has gradually come to like his current job and even dreams that one day he can become an investor with real influence.
At that moment, he was routinely checking his unread emails when he saw an email from someone named "Li Haipeng" seeking funding.
Li Dongping carefully read through the business plan for Weiju sent by Li Haipeng. The business plan clearly targeted Momo as its benchmark product, and even a single sentence from Lu Shao in the product description read: "Weiju, the Momo of the dating and social networking industry."
What is Momo?
Li Dongping curiously searched for Momo, downloaded it, registered, tried it out, and then couldn't stop.
Over the next two days, Momo continued to garner significant attention from the industry thanks to its straightforward approach, and "When you're bored, just use Momo" became a common saying among many people.
However, starting from the third day, the industry's enthusiasm began to cool down, and more "rational" voices emerged in the technology and media circles who were optimistic about Momo's products. These included some industry observers, well-known commentators in the internet circle, investors, and others who questioned Momo's business logic and even its product logic.
Some experts even publicly offered product suggestions to Geng Zhi.
Despite growing skepticism within the industry, Momo App's registered user base continues its rapid growth.
发布会后仅仅一周日间，注册量欠快就亍60万涨到了80万、100万、110万、130万。
The performance-based agreement with Sequoia Capital had already been reached, and Momo's valuation was officially updated to US$3000 million after revision.
Momo's rapid growth far exceeded industry expectations and even the predictions of the Momo team themselves, creating a miracle in the mobile internet industry.
But just as Geng Zhi predicted, Momo's huge success quickly attracted great attention from its competitors and the capital circle, including industry giants.
Guangzhou, Penguin R&D Department, open-plan office area.
"Did you use Momo today? I found a super pretty girl on it yesterday, and we had a great chat, but she's over 2,000 kilometers away from Guangzhou."
"Really? Even prettier than the one I saw on social media yesterday?"
Zhang Xiaolong, who was strolling around the office ditch, happened to overhear his two usually talkative R&D colleagues chatting enthusiastically about girls, and curiously listened from behind.
P.S.: Sorry, only 4k today. I'll hang in there and go to sleep now. I'll make up for it in a couple of days after I recover from my cold.
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