There are such companies suffering from anemia that they founded in the same year as Youtube. Earlier, they got a lot of popularity with online TV broadcast. Although naturally anaemic, they were fortunate enough to get hundreds of millions of dollars in huge financing from Sun Zhengyi. Since then, it has begun to spend extravagantly, not only wasted funds and time, but also gradually exceeded by the competition. Last year they sold themselves to Suning, and the founding CEO of the management team was overrun. Do not know if you have guessed it, the answer is PPTV.
250 million U.S. dollars, this is not money is chicken blood
Due to the huge costs of content, server bandwidth, and traffic acquisition in the video domain, congenital anemic PPTVs have faced funding exhaustion in early 2011 despite three financings. Later, they were fortunate to receive 250 million U.S. dollars in financing in the fourth round from Sun Zhengyi, and the valuation also soared to 700 million U.S. dollars. But unfortunately, starting from this huge sum of money, they have lost their senses just like chicken blood. They have embarked on a self-expanding path of no return and completely forgotten that they are anemic patients who need self-treatment.
First of all, they are almost crazy to scoop angles. After getting financing, they start looking for headhunters who are crazy enough to dig in Shanghai and even the whole country. A video technology team in Shanghai was taken away by two times their salary at the time. This had even completely affected the labor costs of the Shanghai Internet industry. The rich PPTV was too capricious. The people who can be excavated, after all, are just because of the high salaries. They are not at all comfortable. In addition to twice the salary encroaching, in addition to their own hard work to repay the old staff's heart.
Second, blindly set up a project, dig up so many technical talents, of course, have to do something. Do not know who was the idea at the time, and finally they decided to develop set-top boxes. To know that until today, this stuff has been enslaved to control, and it was simply inconsistent with SARFT several years ago. So soon PPTV was stopped. They couldn’t stand alone. Later, they also encountered the rectification of the qualifications of Radio and TV. The PPTV that hit the muzzle was forced to change its name to PPTV. Those who are tossing are not looking for the right path. They consume time, human, material and financial resources. If PPTV expands existing businesses at the time and enhances its own hematopoietic capacity, I am afraid there may not be a current situation.
Once again, copyrights, film and television dramas, entertainment programs, and sporting events are purchased regardless of their merits. Millions of millions of millions are hit by the bottomless copyright pit, but high royalty costs are not directly proportional to the returns. Those high-quality resources have not been put to good use. The popularity of film and television has been completely pinned by Youku Tudou and LeTV. They only have to play "rubbing the ball" to gain popularity. The problem of their own sports resources is more prominent, and Xiaonei will be detailed later. chat.
In the end, people are impetuous. There are several examples of excavations within Xiaonei that can reflect how crazy they were at the time:
1. According to the micro-blog sent by PPTV employees, at the 2012 annual meeting, they actually shouted the slogan of F PPS, Love PPTV. The style of adolescents in secondary diseases is alive and unabashed. Seeing this, Xiao Nai immediately understood why PPTV had to play with "no co-existence" to kill PPS. Their hearts were so large that they stared at one opponent. As for what forest, who cares!
2. There is a netizen. He used to be in the same office building as PPTV in Zhangjiang, Shanghai. PPTV is located on the top floor of the building, and their employees often park all elevators on the top floor to allow leaders to enter or leave, or occupy all parking spaces in front of the building to facilitate access by leading vehicles. They are not only the second, but also the bureaucratic taste. This combination is too beautiful, the condition is too complicated, and quickly transferred to hospital for treatment!
3. Another netizen who once had a business relationship with PPTV is saying that the whole company is chaotic within the company. Senior leaders are independent and they stand on their own feet. A vice president has been bragging about the speed of the company’s development and the equity he has. He also proudly revealed how he used his resources to quickly earn several suites, and said that the goal is to retire in a few years. Another high-level person, he spent only a very small amount of time talking about specific cooperation, but he went to high-end leisure facilities several times. During most of the talks, he also inexplicably attacked other senior executives within the company, even including the CEO.
It can be said that the precious $250 million not only did not allow PPTV to embark on a virtuous road of development, but it caused the whole company to lose its rationality. Sprawling excessively, making PPTV that originally lacks hematopoietic capacity become even weaker. After such a tossing period of two years, the funds have been running out, and the whole company is as soft as a deflated ball. As a result, headhunters no longer look for, because there is no money to hire and no money to raise more people; leave the job has become a daily performance of the drama, and the rest did not go to the basics are also scolded. The most visible aspect of PPTV's depression is that employees have microblogging plans to show that the dinner at the annual meeting has become a lunch of 10 bucks, and even the mooncakes in the Mid-Autumn Festival are drawing on the lucky draw.
Like a soap opera "selling" financing
Ever since, the bloody bottom PPTV can only hope to finance blood transfusion again, and Sun Zhengyi just wanted to invite Ali to take over PPTV. The estimated value of PPTV is 1 billion US dollars. Ma thinks that the price given is too high and the initial contact fails. Soon after, Baiyi's iQiyi purchased PPS for $370 million. As a result, the PPTV valuation of similar companies suddenly fell to less than 500 million. At this time, the two sides contacted each other once again, but Alibaba still felt that the price was too high. It was even better to create a small company to do video exclusively. In this way, PPTV missed Ali and lost what seems to be the best turnaround opportunity now.
The destiny is such an elusive and often the most suitable person cannot come together. After two rounds of negotiations with Ali, the other companies have also entered the vision of PPTV, including both Sohu who wants to strengthen their video business strength and Hunan Satellite TV, which is eager to achieve a breakthrough in the Internet. However, the price code given by Jiaojiao's PPTV is still not low, and Ali is so rich that he feels that the price is not expensive and he has not made any changes. Not to mention these companies with less powerful strength. The scandal concerning PPTV financing continued to fly, and the company continued to suffer losses in the midst of unstable military operations. The total losses in the first three quarters amounted to nearly 100 million yuan.
When everyone doubts that PPTV, which is about to return to zero, can survive, the suspenseful financing case finally has the answer. Suning Yun and Hongyi Investment have jointly invested 420 million US dollars in PPTV. In fact, this is close to the psychological price of the three companies in the front, except that the wealthy Ali is very cautious. Sohu and Hunan Satellite TV, which owns video resources, are also meticulous. After Suning and Hony entered the PPTV, Lenovo, which was introduced by Hony, began to dominate the management of PPTV. Lu Yan replaced the founder Tao Yao as the CEO. Since then, "sell out" PPTV can no longer dominate their own destiny.
With the entry of new capital, it seems that PPTV with successful blood will be saved. Whether it is Suning or the association system brought by Hony, all have no experience in the field of video. Although PPTV has obtained funds, it still has to explore its own way. Resources for sports events, as the PPTV's walking in the rivers and lakes, are at the root of their lives. At this time, everyone has high hopes. In that lost two years, although PPTV also spent a lot of money on sports, it was an increase in volume. Does puffy PPTV first sport drive the entire company?
Relying on sports counterattacks depends on those narrators?
With its many years of accumulation and the high price of copyright to the game, PPTV Sports 1 and LeTV and Portal Group are three pillars in this area. In many of PPTV's businesses, sports resources have also been the most blood-producing capabilities. PPTV was quickly swept by rich sports live broadcast resources. They have a large and stable number of users, which is the biggest guarantee for PPTV's acquisition of revenue. In recent years, PPTV has spent a lot of money to buy and broadcast copyrights, and has even attempted to re-broadcast with exclusive copyright. In addition to the major events, they also provided a lot of popular and niche projects, and gained a lot of users in the new vertical segment. It seems that with the breakthrough in sports resources, PPTV, which has always been anemic, will embark on the path of physical fitness.
It is not known whether PPTV has paid for the copyright or what other reasons. Except for the introduction of the previous ESPN trump card commentary by Zhan Jun last year, the other commentators really considered that the limited budget should be prioritized in copyright. Also feel should not be ignored. If the copyright is a dish, the commentary is a cook. A good cook must be a good cook. A bad cook can only spoil good food. Everyone can't continue to pay for it. Let’s put aside those women’s commentary, which is actually the property of vases in general, PPTV has several men’s explanations that are ace cards. It’s really unpleasant, and some of them are not only poor in professionalism, but also in character. Worrying.
Xiaoli first took the position of PPTV Sports Director Zhou Liang as an example. This year's "Northern Dog" incident in the Football Association Cup commentary caused the weekly director to lose his reputation and was eventually expelled from PPTV. Zhou Liangqi has always been proud and embarrassed. He not only lost his words and damaged the company’s image, but his insults have even led Kim Suning to be insulted. According to netizens, he was in a dispute in his own neighborhood because his car was in a neighbourhood. Dignified directors are so like that, subordinates naturally follow suit. The other narrator, Tang Hui, recently publicly confronted the netizens on Weibo, and it was really "higher" than the director's ability to sit on the broadcast floor. There are these "trump card narrators" who do not care about the company's reputation. The reputation of PPTV spending real money will be smashed. The ultimate victim is the PPTV's image and hematopoietic capacity.
Tao Hao, the founder of the founder, led everyone to attack the IPO's lofty ambitions as if they were still in sight, but the PPTV committee has been lagging behind with ambition. As a distinctive online video company, PPTV could rely on its outstanding advantages in sports resources to continue to make blood for itself and become the basis for the take-off. However, large amounts of easy money have fainted their senses. The crazy "spoiled" has ignored a lot. Details, the evacuation of the final purse and the problems are gradually exposed. Faced with or your own powerful or tightly wrapped thigh Youku potatoes, iQiyi PPS, LeTV and CNTV, congenital anemia PPTV has not had too many choices after “sellingâ€, either to rise up a new road, or only Repeat the mistakes of 56 and Cool 6.
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