Reborn since 1993

Chapter 1401 The Wild Era: The Biggest Daring Is the Biggest Blow.
Previously, Feiyan Technology had also created a wealth-generating myth, but at that time, the Internet had not yet entered a period of frenzy, and there was not much attention paid to the Internet in China.

In addition, Feiyan Technology was a case of false advertising. Although it went public under the guise of an internet company, it was actually a traditional company, or to put it bluntly, a "sunset red" company that produced radios. At that time, not many people in China regarded it as an internet company.

But 3721 is completely different. It is a pure-blooded Chinese internet company from the very beginning.

3721 is about to go public, and it will be listed on the Hong Kong Stock Exchange with a staggering market value of 64 billion RMB.

The listing of 3721 made Zhou Hongyi a billionaire, and will also create a group of millionaires and billionaires.

Even the cleaning ladies and drivers can receive stock option rewards equivalent to tens of thousands of Hong Kong dollars.

As for 3721's expense of chartering a group to take its staff to the bell-ringing ceremony, giving each person HK$10,000 for travel expenses, it was actually a welfare benefit. They took the staff to Hong Kong for sightseeing and then gave them shopping funds.

Recruiting staff to work at the port city company and offering them a salary of 25,000 RMB upon arrival—this kind of meteoric rise to wealth truly showcased the explosive riches of an internet company's IPO to the entire Zhongguancun area!
This also tells the entire Zhongguancun area, as well as domestic internet companies, what it means to go public, what life is like after going public, what kind of life the founders and veteran employees will lead, and even the company's watchdogs will probably be able to eat steak every day!
3721 only showcased some of the benefits after going public, but to other companies in the industry, it was blatant "flaunting of wealth."

Seeing 3721's performance, all the internet companies in Zhongguancun were practically grinding their teeth in frustration.

For the first time, programmers have appeared before the world as a "high-paying" profession, showing that they have the opportunity to earn top salaries without working for a foreign company or going abroad!
On the same day, various media outlets began to report extensively on the news that 3721 was going to go public.

3721's performance successfully instilled the idea of ​​the internet and getting rich overnight into the minds of countless people. The internet became synonymous with getting rich, and this quickly became the first impression many people had of the internet.

……

"Today, more than 600 people went to the Tianya Technology Building in Zhongguancun, where 3721 Company is located, to apply for jobs. Currently, the ratio of applicants to positions at 3721 Company has reached 20 to 1!"

According to the latest news from overseas, 3721 will be conducting roadshows in Hong Kong, Taiwan, Singapore, and Japan, with the final stop being Beijing.

The subscription ratio for 3721 shares has far exceeded expectations. Hong Kong Peregrine, the company responsible for issuing 3721 shares, claims that the subscription scale of Hong Kong stock users, investment institutions and foundations has exceeded 19 times, exceeding US$38 billion, with 200 million US dollars of 3721 shares being snapped up.

3721 has become the most difficult Hong Kong stock to subscribe to in the past decade!

The news about 3721 was also reported on Beijing TV. The listing of 3721 was an important achievement for the Zhongguancun Management Committee, and naturally it was going to be heavily promoted.

Inside the Yanjing Sitong Building, Wang Zhidong, CEO of Sina, watched the news on TV with undisguised envy in his eyes.

The listing of 3721 was a huge stimulus for Sina. Seeing that Zhou Hongyi, who debuted later than him, had already achieved great success, how could Wang Zhidong not be envious?

Wang Zhidong wasn't the only one envious; Duan Yongji, the godfather of Sitong, sitting in his office, couldn't help but feel a little alarmed.

Back then, Sitong supported Wang Zhidong in establishing Sina, also influenced by Li Dashan. Even though Duan Yongji had a feeling that the Internet was a hot trend, he never expected it to become so popular.

A website is valued at HK$62 billion. It's worth noting that Sitong, the first private red-chip company to be listed on the Hong Kong Stock Exchange, has seen its share price decline over the past few years and its current market value is less than HK$1.5 billion.

In other words, one 3721 is equivalent to four Sitong.

An internet company that has been established for just over a year has a valuation that exceeds that of Sitong, the former leader of Zhongguancun.

It's one thing for Sitong to be inferior to the Cyberport built by Li Dashan in Hong Kong, but now, it's been completely outclassed by the insignificant 3721 in the East China University of Science and Technology system. This makes even Master Duan feel ashamed.

This comparison makes Sitong one of the units of measurement for market value in Zhongguancun. Is there any justice in this?
To be honest, in a few years, Sitong's market capitalization in Hong Kong will probably not even be worth as much as the Sitong Building in Zhongguancun...

However, to Duan Yongji's relief, Sitong also invested in Sina, which meant that Sitong had not fallen behind in the internet storm and at least had a chance to make a profit.

"Zhidong, don't worry about 3721. The one who laughs first may not be the one who laughs last."

Sina is the best portal website in China. Sitong also plans to launch an IPO for Sina. At that time, everyone will see who is the number one Internet company in Zhongguancun.

Sina's market capitalization will definitely exceed 3721!

Duan Yongji was encouraging Wang Zhidong's morale. Sina.com was now Sitong's most valuable investment, and Wang Zhidong was someone Duan Yongji needed to appease.

Duan Yongji spoke with confidence, as Sitong Group had brought in Wall Street firms to help Sina list on NASDAQ. Duan Yongji felt that once Sina listed on NASDAQ, its market capitalization surpassing 3721 was just around the corner.

However, Wang Zhidong was not as optimistic as Duan Yongji, and to be honest, he didn't like the American investment institutions; they were too domineering.

Those Wall Street investment firms, used to being domineering, often interfered in the internet companies they invested in and sidelined the founders; this was a common occurrence for them.

On the contrary, Wang Zhidong heard that the venture capital groups represented by Gangcheng Future Industry Foundation, Zhixing Foundation, and Tianya Company are relatively mild. They rarely interfere directly in the management of the companies after investing, and there has been no such thing as driving out the founders so far.

Now that 3721 is about to go public, Gangcheng Future Industry Fund has already proven its venture capital strength. It has money and can even send companies to the Hong Kong Stock Exchange. You can imagine how tempting that is for Zhongguancun Internet companies.

However, Sina had no choice. Sitong Group and Dongling High-Tech were not direct competitors, but they had a history of grievances.

If Wang Zhidong dares to bring Sina to join the Dongke camp, Duan Yongji will go crazy and definitely kick him out. Even if Sina's IPO fails, Duan Yongji is absolutely capable of doing it.

"Sina only has one competitor, and that is China.com!"

Wang Zhidong said in a low voice, "China.com is like a boulder standing in front of Sina. From users to scale, and then to website technology and content, it completely crushes Sina."

Even though he is usually arrogant about his own technology, Wang Zhidong dared not say that Sina could beat China.com in the face of such a huge gap.

Upon hearing Wang Zhidong's words that boosted the morale of others while diminishing his own, Duan Yongji's face clearly showed displeasure.

Duan, the head of the company, is unaware that Sina is inferior to China.com. But can such a thing be said aloud? Even if everyone knows, it cannot be said out loud, otherwise, how will the investors view Sina?

If Sina weren't so dependent on Wang Zhidong right now, and if there weren't any changes during the IPO process, then Chairman Duan would really want to move Wang Zhidong to a more "stable" position and replace him with a more "reliable" leader.

"The outcome is not yet decided, so why rush to conclusions?"

Duan Yongji, in the manner of an elder and a mentor, imparted profound wisdom to Wang Zhidong, saying, "China.com isn't listed either, is it?"

"With a valuation of $28 billion, how can Nasdaq and Wall Street allow an Asian internet company to go public with such an inflated valuation?"

Duan Yongji's words carried a hint of ridicule and disdain. In reality, Duan Yongji did not understand the Internet very well, and his investment in Sina was just following the trend. If he really believed in the Internet, Sitong would have started its transformation long ago.

Duan Yongji felt there was something fishy about the $3721's valuation of $800 million, since companies like the Gangcheng Future Industry Foundation and Peregrine were both owned by Li.

Furthermore, Duan Yongji had heard that Cyberport had the support of many powerful figures in Hong Kong, so he believed that Cyberport and Peregrine had every opportunity to manipulate the valuation of 3721 and collude to fleece investors.

But while 3721 can fool retail investors in Hong Kong, Duan Yongji doesn't believe that China.com can go to Nasdaq to fleece retail investors. He believes that Nasdaq and Wall Street are willing to watch an Asian internet company freely fleece retail investors on Nasdaq.

"China.com is the world's third largest portal website, with huge traffic and users..."

Wang Zhidong, however, defended China.com, arguing that its $28 billion valuation, according to Nasdaq standards, was not too high, but rather severely undervalued.

But Duan Yongji waved his hand, showing no intention of listening further. "There's no need to mention this matter anymore. We can talk about it again once China.com is actually listed on NASDAQ..."

As soon as he finished speaking, the television broadcasted a report that drew the attention of everyone in the office.

According to the latest report from TVB, China.com has completed its final round of financing, and its valuation has reached US$42 billion!
In addition, the Wall Street Journal recently reported that the American Securities and Exchange Commission has approved China.com's Nasdaq listing application.

China.com listed on Nasdaq with a record valuation of $42 billion, setting a new record for the highest valuation of a global internet IPO…

"pat"

A crisp sound came from the ground, startling Wang Zhidong awake. He then saw that the water glass in Duan Yongji's hand had fallen to the ground, but he was completely unaware of it.

Duan Yongji now had only one thought: Could it be that the American Securities and Exchange Commission, the Nasdaq Stock Exchange, or even Capitol Hill and the Presidential Palace, also have people from China.com?
How could they agree to let China.com go public with such an outrageous valuation?
(End of this chapter)