The Millennium Semiconductor Survival Guide.

Chapter 178 Holding Tencent
"Newman, I was thinking, can we put qq on the phone?
In other words, qq is built into the matrix, that is, mobile qq. Mobile qq can communicate with qq messages on the computer, and users on the mobile phone can also interact with businesses on the computer.

In this way, the impulsive consumption of consumers can be promoted. When he receives a promotional message from a supermarket on his mobile phone, or receives a voucher from a supermarket, and there is a supermarket nearby, he is likely to make a purchase. Impulsive consumption.

Consumer behavior that would not otherwise have occurred. "

Pony Ma quickly thought of a better solution. It takes time for consumers to convert promotional information into consumption in the real world after receiving promotional information on a computer. If the content is received through text messages on mobile phones, the chain will be shorter.

The longer the chain, the longer it takes for consumers to think rationally, and the less likely they are to make impulsive consumption decisions.

Pony undoubtedly has a clear understanding of this point.

When Tencent promoted QQ Show offline, it conducted in-depth research on the scenarios where users purchase QQ Show.

They found that after users have the idea of ​​recharging, the probability of going to an Internet cafe to buy a point card is much higher than the probability of going to a newsstand to buy a point card, at least twice as high.

Not only because of going to the newsstand to buy, but also the process of searching, and after finding the newsstand, the newsstand may not have Tencent’s point card for sale, but in Internet cafes, you only need to shout at the service staff to get the answer immediately.

In the process of going to the newsstand, users will also think about whether to actually buy virtual products.

It is necessary to let consumers think as short as possible. Why the commercialization of Bilibili is much more difficult than Douyin in the future is definitely not the reason of B friends, because there are no barriers between APPs, and there is no user who only uses Bilibili without using Douyin. sound.

Station B mostly has long videos. Long videos determine that users need to think about the content of the video. The more you think about it, the more you think it is unnecessary, and you will not be brainwashed by consumerism.

However, Douyin’s short video is only about ten seconds long, and it doesn’t give you time to think at all. You have to make a decision immediately whether to buy or not. After this kind of instantaneous thinking and emotional thinking occupy the high ground, the probability of transaction is much higher than that of station B.

Blaming the user group is the most sleazy behavior. The product model determines the low conversion rate of bringing goods on station B, which further determines that the unit price of advertising is much lower than Douyin.

This is why bringing goods is not suitable for Zhihu at all. It also takes too long for users to think, and the text content requires users to think even more.

After seeing the Matrix prototype, he seemed to have countless inspirations in his mind.

Mobile QQ, if it is now taken out and made into this form, it will not be Mobile QQ, but WeChat.

Zhou Xin was thinking about how to tell Pony about the mobile qq built into Matrix.

"Mobile QQ can be built in. Originally, we were also developing an instant messaging product on mobile phones, but if Tencent wants to do this, I need to expand my shareholding in Tencent.

I can guarantee that I will not interfere with Tencent's daily operations, but I need a controlling stake. "

After Zhou Xin finished speaking, Pony Ma fell into deep thought, because Zhou Xin's current shareholding accounted for 40%, and a little expansion would be a relative holding.

Even with the current shareholding ratio, the five members of Tencent's founder team need to be consistent in order to achieve control over Tencent.

As long as anyone goes to Zhou Xin's side, Tencent's actual control will change hands.

Now Zhou Xin directly expressed such appeal, Pony Ma asked: "From the very beginning when you were willing to invest in Tencent, we have discussed the value of Tencent internally.

QQ has a large user base, and we couldn't find its profit method. When you told me that you knew Tencent's profit method, we thought internally whether we could think of a profit method by ourselves.

The time we gave ourselves was half an hour, because the contract was about to be signed that day.

It's a pity that we didn't think of profit models like QQ Show and Enterprise QQ. Even if we could think of Enterprise QQ, we couldn't imagine that Enterprise QQ could achieve the level you described.

From my heart, I really admire your sense of smell in products, and I can understand why the media in Silicon Valley said that you should be described as the best product manager on earth, not the most successful product manager in Silicon Valley.

You mentioned that if qq is implanted into the matrix mobile phone, you will gain control over Tencent. You have never mentioned this before, which means that you attach great importance to the mobile phone qq. "

Pony looked at Zhou Xin with piercing eyes, hoping to get an answer from Zhou Xin.

Zhou Xin changed the topic: "Interaction between online and offline has always been one of the key topics that researchers in the Internet academic circle pay attention to.

Papers abound on how virtual communities affect real life, how computer networks provide human connection, and the hidden power of computer-mediated communication.

Internet companies are also concerned about this issue. At the peak of the Nasdaq bubble, many Internet companies made similar attempts. They were not limited to holding events in virtual communities, they also moved the events offline, trying to bring Users' online relationships are replicated offline in an attempt to enrich the Internet services they provide. "

Pony is no stranger to this. In the process of his personal QQ, he has chatted with countless QQ users. There are not a few cases where QQ users chat well, and then meet offline netizens.

However, judging from past cases, offline events led by Internet companies must have a host to maintain the operation of the event and provide event funds.

The spontaneous offline meeting of users is the behavior of users themselves, and Internet companies cannot obtain direct benefits from it.

"As we just mentioned, using enterprise QQ to conduct community operations is a multi-win mechanism. The connection between online merchants and consumers can promote consumers' offline purchasing behavior, and consumers can interact with merchants online. able to obtain substantial benefits.

In fact, it has found a profitable way to interact online and offline. " Zhou Xin said.

It took six years to figure out this mechanism from the birth of WeChat to its complete maturity, with the addition of supporting mobile electronic payment and the popularity of QR codes. Putting it in American in 2000, it was like a trick for antelopes to hang their horns. .

Pony Ma couldn't imagine how Zhou Xin came up with this plan after listening to it.

Also a product manager, Pony Ma claims to be an excellent product manager. In the process of building QQ, he claims that qq has a better product experience and better code than ICQ.

The more excellent code here means that the volume of ICQ is about 5mb, while the volume of the first version of qq is only 220kb. Judging from the speed of the Internet in 1998, it only takes 5 minutes to download qq. important to the market.

Zhou Xin went on to say: "Pony, you just said that I am the best product manager, I think you are equally good, and you can quickly realize the missing link in this community operation mechanism.

That's right, the missing link is the mobile communication software.

Mobile communication software and mobile electronic payment are the two core points of this mechanism. These two points have been successfully built. This community operation mechanism is only the most basic profit model.

They will create countless profit models that are much, much more than this.

You can think about it, if Tencent is willing to accept my further investment, that is to say, if I hold Tencent, then we will complete this matter together, and if Tencent is not willing, then mobile instant messaging, I will set up another company to do it , which will not affect our original cooperation.

Enterprise qq and I will continue to help you promote in American. "

Pony left this trip with a lot of rewards. He realized that if the enterprise QQ is built into the form Zhou Xin said, he can't say that he can monopolize the entire market, but there is no problem in occupying most of the market.

At the same time, he was also full of doubts. He was extremely curious about what kind of mobile instant messaging could be made.

Because he thought, to put it bluntly, isn't mobile instant messaging the same as the current SMS function?I haven't seen the SMS function being played out.

In December this year, China Mobile will launch Monternet, which is an Internet information service based on SMS. To put it bluntly, this set of services is a primitive version of the mobile Internet.

After Pony Ma returned to Tencent's rented apartment in North America, he told Zhang Zhidong about the conversation he had with Zhou Xin today.

Tencent has not yet gone public. Even though it has made a profit this year, there is still not much cash on the books. In addition, he does not have a high pursuit of quality of life now. He lives in an apartment with Zhang Zhidong in Silicon Valley.

Among the five founders of Tencent, Pony definitely has the best relationship with Zhang Zhidong in terms of close relationship.

It can also be seen from the shareholding distribution of Tencent when it was established. Pony Ma accounted for 47.5%, Zhang Zhidong accounted for 20%, Zeng Liqing accounted for 12.5%, Chen Yidan and Xu Chenye each accounted for 10%.

"It's amazing. Newman's mechanism is perfectly set up. If we can really cooperate with Wal-Mart, even without NewPay for offline electronic payment, it is already more advanced than most manufacturers.

For consumer companies, the message push alone has a very large number of users.

Relying on preferential information to attract customers, the customers who will join the group are price-sensitive customers, which means that these customers will always open QQ and pay attention to the news in the QQ group.

With NewPay for offline payment and the coupon function, this mechanism can be said to be perfect.

It was indeed the right choice for us to choose Newman to invest in Tencent. If it were replaced by IDG or Yingke Capital, we still cannot find a profit model for QQ.

Then there was a second round of financing, and our stake was further diluted.

The biggest advantage of finding Newman is that Newman can help us find a way for the company to achieve profitability, which is what he mentioned at the Internet Conference, and he has greater initiative in the follow-up financing process. "

However, after the earth-shaking changes in Tencent in the past six months, none of the founders of Tencent was dissatisfied with Zhou Xin. Everyone realized that choosing Zhou Xin instead of IDG and Yingke Capital was the correct choice.

Pony was not as happy as Zhang Zhidong, he said: "What if I tell you that there is a more perfect model?"

Zhang Zhidong focused on technology and was not sensitive enough to products. After thinking for a while, he couldn't figure it out: "What model can be more perfect than this set of community operations?"

Pony said: "Mobile qq."

He briefly talked about the mobile phone QQ with Zhang Zhidong. Zhang Zhidong is not sensitive enough to the product, which does not mean that Pony has already talked to this level, and he will not realize the power of the mobile phone QQ.

Pony said: "If we want to make mobile phone QQ and want to pre-install it on the matrix, Newman will need a controlling stake in Tencent, which means he will invest another sum of money to expand the proportion of shares."

Zhang Zhidong said: "Without Newman, wouldn't we be able to do mobile QQ?
We can also do mobile qq. "

Pony said: "This is a kind of resource exchange. If Tencent develops mobile phone QQ, Newman will develop another mobile communication software to seize the market with mobile QQ.

In addition, current mobile phones do not support pre-installed applications. This function is too complicated. Tencent is too small and has no reputation in Western countries. We have no way to become a function on mobile phones.

Newman can do it, he has this resource, and the mobile phone he is making is somewhat similar to a handheld computer, and some applications on the computer are moved to the mobile phone.

Except for the mobile phone that Newman is making, I have not seen other mobile phones that are making similar forms. "

The chips used in current mobile phones are far inferior to those used in computers, and the requirements for chips are extremely low.

It was not until 2002, the year when the MMS function came out, that the chip of the mobile phone would have a relatively large improvement.

Not to mention the design of mobile phone chips with the most advanced process technology like Matrix.

"I can understand Newman's meaning. The interests of mobile QQ are so great that I need to accept the handover of the control of the enterprise to Newman before he will completely hand over this business to Tencent." Pony said.

Zhang Zhidong asked: "What do you think?

Because there are five of us, you are the major shareholder, you have the final say, I want to know your thoughts. "

Pony said: "After Newman acquired 40% of Tencent shares, my shareholding ratio was lower than his, and it was only because the five of us were consistent that I was able to maintain control.

In addition, Newman has little interest in controlling Tencent. We are in the honeymoon period of cooperation. Everyone wants to make the product well and run the company well. Newman gave us a lot of valuable advice.

Before we met Newman, we always felt that creativity was worthless. For the same idea, the person who thought of it first may not be the best.

Executors, operations teams and development teams, these are far more important than ideas.This is our previous thinking. During the six months of contact with Newman, my concept has changed. The value of creativity is immeasurable.

The previous ideas are worthless because these ideas are floating on the surface and only meet the single needs of users, not a complete commercial solution.And Zhou Xin's idea is a complete idea, from satisfying user needs to how to achieve profitability, and even how to optimize it in the future, and expand on this basis to help users discover the needs that did not exist.

So my attitude is vacillating. I don't want Newman to hold a controlling stake, because Tencent is a company we founded, but I also want to see what kind of situation Newman can bring Tencent to after holding a controlling stake. "

Pony was really hesitant.

The difference from Robin is that in order to keep QQ alive, Pony is willing to sell Tencent to a company that can afford QQ.If it were Robin, he would rather Baidu go bankrupt than give up control of the company.

Zhang Zhidong said directly: "I don't think there is much difference, even if Newman controls Tencent, will he manage Tencent himself?

With so many companies under his umbrella, he doesn't have the energy to manage Tencent. The actual CEO is still you, and didn't you just say that Newman promised you that you would not interfere with the specific operation of QQ?

And I heard that when you were having dinner yesterday, Newman did not interfere with Baidu's daily operations, and he did not even interfere with major decisions related to the company's listing.

I think Newman's words have credibility.

In addition, Newman now has 40% of the shares in his hands. If he really wants to, can't he pull part of our founder team over?He only needs to win over two people from me, Zeng Liqing, Chen Yidan, and Xu Chenye to get more than half of the voting rights.

On some key decisions, if you disagree with Newman, to put it bluntly, even I will seriously consider Newman's opinion.

So I don't think there is much difference, and I think this condition is completely acceptable.

Moreover, after Tencent acquires Newman's holding, we can use this name when we discuss cooperation with QQ, a company in Huaguo. Isn't this more effective than Newman being an investor in Tencent? "

Zhang Zhidong was originally a minority shareholder, and Tencent was the product of their entrepreneurship, but his relationship was far less deep than that of Pony, so he did not have the slightest psychological burden to transfer the controlling stake in Tencent to Newman, and the controlling stake was not in his hands originally.

It was his words that awakened Pony, and the controlling stake was not in his hands. The team of their founders teamed up to own the controlling stake in Tencent.

Therefore, after Pony and Zhang Zhidong reached an agreement, and after discussing with the domestic three-person team, they finally decided to accept Zhou Xin's financing.Zeng Liqing, the only one who disagreed, could not find any reason to refute, and the original major shareholder Pony accepted this result.

Xinxing Investment's shareholding in Tencent has expanded to 51%, realizing the relative holding of Tencent.

Wu Shiqiang, as the representative of Xinxing Investment, signed the contract with Tencent, and Pony came to Zhou Xin's office again.

This time Pony was a little surprised because he saw a Chinese beauty in Zhou Xin's office, but he was no stranger to this face.

"Pony, congratulations that we have reached a deeper cooperation. This is my girlfriend, Li Jingyi, you can call her Jingyi." Zhou Xin said, and then introduced to Li Jingyi: "This is Pony, the QQ you usually use is him Subsidiary companies do.

We are very good partners. This time when Pony comes to American, we want to subvert some traditional business models. "

In July, Li Jingyi had already graduated from university. She went back to her hometown and stayed for a few days before boarding the flight to San Francisco.

Zhou Xin took her with him when he went to Shenhai, which caused her to appear in many Huaguo media as Zhou Xin's girlfriend.

In the last half year of her senior year, because of this incident, Li Jingyi experienced a lot of discussions in school, and she could be seen posts discussing her on various online forums.Countless netizens are curious about what kind of woman can win Zhou Xin.

Judging from the public information that Li Jingyi was picked up, she is very good, but she is still far from Zhou Xin.

It is precisely because of Li Jingyi's high popularity that Pony is no stranger to her appearance, "Jingyi, it's a pleasure to meet you. Although Newman and I have only worked together for half a year, I have gained more in this half year than I have in the past ten years." Years of work experience is even greater.”

After Li Jingyi said hello, she sat on the sofa and kept quiet.

"Pony, Tencent is your painstaking effort, and this will not change. I want a controlling stake in Tencent because the interests involved are too great. I don't want to cultivate an opponent that I cannot control.

In my opinion, if the mobile phone QQ is done well, the value of such a Tencent can be comparable to that of Microsoft. "

This evaluation is too high. Microsoft, whose peak market value has exceeded 6000 billion U.S. dollars, and even if Tencent has achieved profitability in the first half of this year, the Huaguo investment community gave him a valuation of only [-] million U.S. dollars.Li Jingyi was shocked. Is Tencent so valuable?Because Zhou Xin said this, she believed in Zhou Xin's judgment.

Pony is very curious about where Zhou Xin’s confidence comes from: “Although I have great confidence in QQ, I don’t have the slightest confidence in catching up with Microsoft.

Is mobile QQ really so powerful? "

Zhou Xin nodded: "Yes, it really has such a great power.

What do you think about internet advertising? "

"The primary means of making money for the vast majority of internet companies," Pony said.

Tencent has also thought about making money through advertising. What we want is to build a portal website, use QQ users to attract traffic to it, and then find advertisers to place ads on it to make money.

When I came to American and saw the advertising models of Google and Baidu, I realized that there was a big problem with my thinking at the time.

That is, the efficiency is too low, and the price advertisers are willing to give cannot be compared with search engines.

I searched for clothes in the search engine, and an advertisement for a clothing brand appeared on the left.I searched for more details, such as dresses, and next to it was an advertisement for women's clothing.

Compared with the targeted advertising of search engines, the set of traditional portal websites is too far behind.

Search engines can use users to search for content and directly know what users want, but portals cannot. "

Baidu's advertising distribution system is already in the form of Google's advertising distribution system after 2008.This advertising distribution system has been well received by a large number of advertisers, because the conversion efficiency is too high. The same advertising unit price can bring in sales of 100 million US dollars on Baidu, but only 30 on Yahoo.

Google later directly imitated Baidu's advertising distribution system at the pixel level, and Yahoo's market value plummeted all the way, which was inseparable from Google and Baidu.

Because everyone realizes that it is all about advertising, and portal websites and comprehensive service platforms like Yahoo are not comparable to the second-generation search engines at all.

This also led to Yahoo also developing its own search engine.

"As for enterprise qq, mobile qq and personal qq on PC, this combination can do better than the advertising model of search engines."

(End of this chapter)