Chapter 93 - Young People, Don’t Be Ignorant of Good and Bad
Chapter 93 - Young People, Don't Be Ignorant of Good and Bad
Cheng Yizhou, on the other side of the phone, was slightly frustrated upon hearing the rejection from the other party.
After a brief pause, Cheng Yizhou responded with a smile, but his words were filled with provocation: "Young man, if you don't agree to this acquisition, I'll simply throw this money into the market and offer it to your competitors like Fanfou or Jiwai for promotion. You won't be able to stop it then."
His words implied that the young man was making a foolish decision, suggesting that his offer to acquire the company was an opportunity that should not be missed.
However, Xu Jingren, on the other hand, remained unaffected by Cheng Yizhou's threat. "Mr. Cheng, please go ahead. We'll see you in the market. Goodbye." Xu Jingren hung up the phone, not giving Cheng Yizhou any further attention. His response reflected his confident and somewhat arrogant stance as a young entrepreneur.
Xu Jingren had complete faith in the strength of his company. The financing was under control, and the boss was ready to inject tens of millions if necessary. With Weibo's impressive user growth and bright prospects, there was no way he would sell Quantum Beat for a mere 18 million yuan.
After ending the call, Xu Jingren immediately called Fang Hong to inform him of the situation. This was important, and the boss needed to be aware.
On the other hand, Cheng Yizhou, who had been cut off abruptly, stared at the phone and snorted coldly. "He doesn't know what he's rejecting. The last time someone was this stubborn was with the Xiaonei team. Fine, if you don't want to sell, I'll make sure to show you the consequences."
It's worth noting that the current founder of Fanfou.com, Wang Xing, had previously been involved with Xiaonei, which Cheng Yizhou had tried to acquire years ago.
In 2006, Cheng Yizhou had approached Wang Xing, the founder of Xiaonei.com, with an offer of 10 million yuan to buy out the company. However, Wang Xing rejected the offer and refused to sell his site, no matter how favorable the terms were. Cheng Yizhou then resorted to his typical tactic of threatening to use the money for promoting 5Q, his own social networking platform, to outpace Xiaonei.
But Wang Xing was just as stubborn, refusing to give up his company. Unfortunately for him, his team wasn't as lucky as Xu Jingren's. Without a hidden benefactor like Fang Hong backing him, Wang Xing's team soon encountered severe difficulties.
Xiaonei.com struggled with server issues as the user base exploded, but with no money for expansion, the company was in trouble. Wang Xing desperately sought investors but was rejected time after time due to his small team and lack of resources. If Quantum Beat hadn't had Fang Hong, there was a high chance that they would have faced the same difficulties.
Meanwhile, Wang Xing's competitors, Cheng Yizhou's Qianxiang Group, and Sequoia-backed Zhanzuo.com, continued to grow stronger.
With no support from investors and growing internal strife, Wang Xing eventually sold Xiaonei.com to Qianxiang Group in October 2006 for a meager 16 million yuan. Despite his pride, Wang Xing was forced to let go of his creation.
Cheng Yizhou, after acquiring Xiaonei.com, integrated it with 5Q and rebranded it as Renren.com, preparing for an IPO.
Despite the bitterness of the transaction, Wang Xing later founded Fanfou.com, which eventually became a potential competitor to Weibo. He also launched a third platform, Hainei.com, further expanding his influence.
Meanwhile, Fang Hong received the call from Xu Jingren.
"Boss, the head of Qianxiang Group just offered 18 million yuan to buy our company," Xu Jingren explained. "I rejected him right away. He even threatened to use that money for promoting our competitors like Fanfou."
Fang Hong chuckled upon hearing this and responded, "You may not know, but the founder of Fanfou, Wang Xing, had a history with Cheng Yizhou. Two years ago, Cheng tried to acquire Xiaonei, but Wang Xing refused to sell. Now, Cheng might be looking to invest in Fanfou, so don't be too quick to judge. In the business world, interests take precedence over personal grudges. Be careful."
Fang Hong then reassured Xu Jingren. "As for the year-end financing, don't worry. It should go through next week without any problems."
Xu Jingren was relieved after hearing this and ended the call.
---
The next day, Wednesday, December 24th, the A-share market continued its decline. The session opened with a drop of 1.25%, falling to a loss of 2.43% by the afternoon before finally closing down 1.76%. There was growing fear that the market would break below 1800 points.
After three days of sharp declines, pessimistic investors were speculating that the market might soon hit new lows. However, Fang Hong remained unfazed. He had been shorting the market and wasn't planning to enter any new positions unless an opportunity arose. For now, he was focused on enjoying life.
It was Christmas Eve, a Western holiday.
Late that night, after taking a shower, Fang Hong walked into the bedroom, towel in hand. He Xuan, his girlfriend, was waiting for him, dressed in a Christmas-themed outfit complete with cute antlers. She gazed at him with big, watery eyes and said sweetly, "Tonight is Christmas Eve. I want an Apple."
Fang Hong raised an eyebrow, confused. "What do you mean?"
He Xuan, still looking at him with those adorable eyes, explained, "It's a tradition on Christmas Eve. You have to give an Apple for it to be romantic."
Fang Hong shook his head, amused. Despite his confusion, he decided to indulge her request. "Alright, I'll get you an Apple."
---
The next day, Thursday, December 25th, the A-share market remained volatile. The market initially showed signs of recovery but quickly fell again, losing 1.65% during the day. It briefly rebounded in the final half hour but ended the day down 0.61%, closing at 1852.42 points.
This week, the market had experienced four consecutive declines, leaving investors worried about the future. But Fang Hong, who had previously shorted the market, received an outpouring of gratitude from his followers on Weibo. Many of them had followed his advice to exit the market and avoid further losses. As a result, his reputation soared.
Many investors, now looking for guidance, waited for Fang Hong's next move before deciding whether to enter the market again. They trusted his judgment, believing that if he wasn't entering, it wasn't time to buy.
---
(P.S.: Soon will reach 100 chaps. If you want to support me and want more of this books lemme know in the comment section)
---