Winning the new financial era

Chapter 170 Douyin Test Version
"Old Fan, how is your situation? Ruixiang has negotiated a credit line of 47.7 billion yuan with ICBC and Jingnong Commercial Bank.

Yimin Wangjin has to hurry up here. It is expected that we will submit a prospectus to the SEC (US Securities Regulatory Commission) in June. "

During the phone call, Zhang Yida once again became concerned about Yimin Wangjin's financing from the bank.

"Hey, how can Yimin Wangjin compare with Ruixiang? We don't have a parent company with a valuation of tens of billions to provide joint liability guarantees.

I contacted several small banks, and they expressed some interest in cooperation, but they were a little worried.

After all, there is no such precedent! "

Fan Hongyang has not been idle these days. Through various contacts, he contacted the leaders of many banks.

The other party told him: With online small loans as the financing subject, the loan with the highest leverage can be granted at most.

But outside of this, there are many obstacles to larger-scale financing.

Zhang Yida thought for a while, and roughly understood the meaning of the various banks. He wanted to make money, but he was afraid of being punished for illegal operations.

With a move in my heart, I had a new idea and said:
"If you do this, you go to buy a financing guarantee company to provide an intermediary guarantee for the cooperation between Yimin Wangjin and the bank.

In this way, the procedure will not go through. "

The current situation of Yimin Wangjin is that the supply of funds is insufficient, and the cost of financing is optimized to be reduced.

Compared with the capital cost of more than a dozen points in P2P, the capital cost of a few points in the bank can help Yimin Wangjin save a lot of costs and help improve the profitability of the enterprise.

"Uh, does this count as a related guarantee? What is the upper limit of the guarantee?"

Fan Hongyang was born in e-commerce operations and is better at Internet operations and management. Although he has acquired a lot of knowledge about financial services, he is still not familiar enough.

Zhang Yida was about to teach him a lesson and said:

"Related guarantees are mainly for listed companies to tarnish their reputations, major shareholders provide guarantees for listed companies, and listed companies provide guarantees for major shareholders.

Now the new game is that the listed company guarantees the subsidiary company.While harvesting leeks, it also ruined its reputation.

China's credit system is not perfect, so many loans need to find a guarantor or a guarantee company to increase credit.

We set up a guarantee company to guarantee our parent group, which is completely legal and compliant.

According to Article 20 of No. 10 of the Interim Measures for the Administration of Financing Guarantee Companies, the balance of financing guarantee liabilities of a financing guarantee company shall not exceed [-] times its net assets.

It is equivalent to that the maximum leverage ratio cannot exceed 10 times, that is, 1:10.

If you put together the surplus funds of Yimin Wangjin, you can make one billion or eight hundred million.

Just use 10 billion yuan to leverage the bank's 100 billion yuan of credit.

The 10 billion guaranteed funds must be frozen in the bank and cannot be moved, but the other 90 billion can be used for lending.

Five or six points of capital cost, if you use it to lend at an annual rate of 24, there is also an interest rate difference of eighteen or nine points.

It is much more cost-effective than P2P. If the model works well, I want to replace all the funds with institutions in the future. "

Fan Hongyang thought for a while and said, "That's not right! I remember that there is a rule in the guarantee company that the ratio of the balance of guarantee obligations to the same guaranteed party and its related parties to the net assets of the financing guarantee company shall not exceed 15%."

"Hey, it would be great if you could approve a few more vests. Anyway, it's not like we won't pay back the money, or we can't afford it.

WeBank, MYbank, and Ali Microcredit all do this.

This is called giving full play to the strengths of financial technology and driving small and medium-sized banks to make progress together. "

Zhang Yida sneered inwardly. In his previous life, several big brothers took the lead in releasing hundreds of billions or trillions. The registered capital of the small loan company under him was only a few billions, and the leverage of hundreds of times was also very smooth.

As soon as the regulatory agency made a move, the model was adjusted and changed to joint lending, [-]% of the capital contribution, and [-]% of the accounts.

Banks take the lead, and financial technology companies take the small lead. It is still very happy for the big guys to cooperate.

Sit in a row and eat fruit!

"Then... okay! I'll talk to them again according to your thinking."

Fan Hongyang thought for a while, and felt that what Zhang Yida said was very reasonable. It seemed that it was very necessary to open up channels for institutional funds.

After hanging up on Fan Hongyang, Zhang Yida got up and left Ruixiang Company, and went to Douvision Company.

Douvision's [-]-odd employees work in a Grade A office building in Zhongguancun.

For convenience and to provide employees with a spacious and comfortable office environment, Zhang Yida directly rented the entire 15th floor, covering a total area of ​​more than 500 square meters.

Since Douvision is still in the early stage of R&D preparations, Zhang Yida usually only comes here once a week.

Because the first test version has been produced, Zhang Yida came here today to experience it for himself.

When we reached the 15th floor, we saw a huge music symbol, which is the logo of DouTV.

Zhang Lan, product manager of DouTV, stood at the gate early and waited for Zhang Yida. When he saw him coming, he hurried up to meet him.

Zhang Lan was poached by Zhang Yida from Toutiao. In her previous life, she was the president of DouTV, and she is also a rare and outstanding female product manager.

In 14, she suggested to Zhang Ming to make a short video APP, but it has not been adopted by the other party.

It was not until the beginning of 16 that Zhang Ming made up his mind to make a short video app.

Zhang Lan did not live up to his expectations. In 17 months, DouTV had [-] million daily active users, making it the fastest product to exceed [-] million daily active users after WeChat.

For this kind of talent, Zhang Yida couldn't bear to watch her waste time, so he directly dug it from Toutiao.

Zhang Lan led Zhang Yida through the front desk and into the messy staff area.

Looking around Zhang Yida, dozens of senior programmers who were either bald or wearing plaid shirts were coding, and all kinds of sundries were piled up on the workstations.

Seeing this, Zhang Yida didn't say anything. These were the treasures he entrusted headhunters to find, each with an annual salary of hundreds of thousands.

They like an open and free research and development atmosphere, so let them go.

When they arrived at the conference room, Zhang Lan took out several test phones, all of which had Doushi APP installed, handed them to Zhang Yida, and said:

"Mr. Zhang, in the past two months, our team has downloaded hundreds of short video apps at home and abroad, tried each of them several times, and finally made this Douyin test version.

Take a look and give me your opinion! "

Zhang Yida took the phone, opened the Doushi app, and a screen popped up on the home page:
A girl is singing lip-sync.

"Foam in the sun is colorful.

Just like me who was cheated, I am happy.

Investigate what is right or wrong, your lies, based on still loving me"

……

Zhang Yida took a closer look, it was Zhang Lan, with makeup on, he almost didn't recognize him.

The video was taken in a very ordinary way, and it was incomparable to those bouncing and jumping long legs in the memory of the previous life.

The video was only 15 seconds long, and many of them were played. Zhang Yida paused and did not scroll down.Glancing at Zhang Lan, he asked, "Did you take the picture?"

"Yes! I, the product manager, must be the first to experience it!

You then scroll down, and our team has shot a dozen videos in total. "

Zhang Lan was very satisfied with his work, and urged Zhang Yida to continue reading.

Thinking that Zhang Yida didn't know how to operate, Zhang Lan leaned forward and approached Zhang Yida. She swiped her middle finger on the screen of the phone, and the phone switched to the next screen, and said:
"Mr. Zhang, look, this is the next video.

There are no redundant operations and pages, this is the "immersive experience" you asked to create. "

The next video is a bald programmer singing lip-synch. The picture is so beautiful that Zhang Yida didn't swipe across to experience the product, but watched it carefully.

The next dozen or so videos were also shot by Douvision employees, and Zhang Yida watched them all next to each other.

After reading it, Zhang Yida didn't speak, and began to quietly think about the advantages and disadvantages of the product.

"Mr. Zhang, how are you? If you have any deficiencies, you can bring them up, and I'll let everyone correct them."

Seeing that Zhang Yida didn't speak for a long time after watching the video, Zhang Lan felt chilled, thinking that the boss was dissatisfied, so he stopped talking.

"Oh...no no. The UI is quite beautiful, and the APP responds very quickly without lagging.

It's just that there are a little less videos, and I don't know what happened to the algorithm recommendation.

Another one is that the functions are too simple, such as video editing, BGM insertion, beauty function, special effect function and so on. "

To be honest, with the current version, Zhang Yida dare not push it to the market, he is ready to hit the street.

Short video began to develop in 2011, and now the mainstream players on the market include Kuaishou, Meipai, Xiaokaxiu, Miaopai, Xiaoying, Weishi...

Microvision was abandoned by Penguin last month, and I don’t know if it will be restarted in the future.

There are not too many users, and short videos are still in a relatively small segment of the Internet.

“Modujia Musical.ly, which was launched in April last year, is also a music-related short video community application.

However, unlike Douyin, their main market direction is in North America.

The main function of their product is: users can quickly create a 15-second MV by dubbing their own videos with music from the music library.

Or choose your favorite hit hits, and create a music video by lip-syncing and body movements.

Next, you can study their products carefully and extract some advantages to our Douyin. "

Zhang Yida suggested to Zhang Lan.

Musical.ly was launched in China and the United States at the same time in July last year. However, the situation after the release was a double storm. Almost no one in China knew about it, but it became "the most exciting application" among American young people.

It is the number one product among similar applications in the United States, and even popular stars such as Lady Gaga and Baby Ariel are its users.

In the previous life, DouTV paid tribute to Musical.ly at the "pixel level" in terms of functions and interfaces, so it has been deeply involved in the whirlpool of "plagiarism".

In the second half of 17, Douvision simply bought musical.ly for $10 billion.

After acquiring the other party, Douvision also used the other party's overseas market influence to go abroad in one fell swoop and created TikTok, which is popular overseas.

"music.ly? I tried their products, but I don't think it's too NB?"

Zhang Lan is a little unconvinced. Although he does not reject "learning from" others, it is an indirect admission that his product is not good after all.

"They are so popular overseas, they must have their own advantages, right?

Put down the means and study hard! "

Zhang Yida smiled and said, although musical.ly's popularity in the United States is due to some luck, the product quality is absolutely on the level.

The reason why it is not acclimatized in the country is mainly due to poor operational capabilities and insufficient funds.

Hey, do you want to make a layout and invest in musical.ly?
Zhang Yida remembered that Cheetah seemed to have invested in it in his previous life. In this life, let's see if he can cut it off?
Of course, it would be best if it could be acquired, lest Douvision also bear the infamy of "plagiarism".

(End of this chapter)