On September 19, 2013, Toutiao officially announced the acquisition plan for Tiantian Tooting. Toutiao will acquire 90% of Tiantian Tooting's equity and all voting rights. The founding teams such as Wang Zhigang and Huang Xiaojie will retain 10% of the shares, and the former venture capital companies will cash out and leave the scene.

The music industry, to a degree of importance, belongs to the third and fourth tiers. Therefore, Toutiao’s acquisition of Tiantianguang Ting has only become a small news and has not attracted much attention. Even if it wants to acquire Alibaba, which still wants to acquire Tiantianguang Ting, there is no big reaction.

On the contrary, the online car-hailing subsidy war on Shanghai Stock Exchange has attracted more attention.

After 25 days of subsidy + the strong traffic from Toutiao, Didi almost controlled 75% of the market share of online car-hailing in Shanghai, and the remaining 25% was also because other subsidy companies appropriately increased their quota.

After rapid development, DiDi also began to reduce its subsidy amount, but no peers have come out to compete for bayonets immediately, and DiDi still controls this market.

At Bumblebee headquarters, Deng Wei was calculating the company's capital chain situation. The bleak data made her frown. Bumblebee's subsidies have been reduced a lot during this period, but even if there is no subsidy, the daily operations of the entire company are costly. The salary of so many people will not be stopped because of no business. Especially now, when people are panic, a little movement will cause chaos.

It is useless to just boost morale. For most ordinary people, they don’t eat the same thing as painting cakes. Only college students will accept low wages for the so-called future.

"Dongdongdongdongdong..." The sound of knocking on the door sounded.

Deng Wei looked up and saw that it was Li Yongjin, and the door was not closed. Li Yongjin dragged his suitcase and walked in.

"When did you come back? Why didn't you notify me in advance? I'll send someone to the airport to pick you up." Deng Wei quickly stood up.

Li Yongjin shook his head and smiled bitterly: "I haven't succeeded in my career, I'll just come back by myself. What else can I do?"

"Baidu doesn't agree to invest in us?" Deng Wei asked with a bad face.

Li Yongjin said: "I haven't even seen a senior executive of Baidu. The one who received me was a manager in charge of investment business. I had a good talk with him, but he couldn't decide on such a major matter, and he couldn't let me meet the senior executives of Baidu. He could only wait until they were determined internally and then report it. Then the senior executives would not see me, and they had to look at the follow-up situation."

Deng Wei frowned and said, "I'm afraid I'll have to wait until the year of the Monkey and Horse Month."

"So I'm back, I can wait there, but Bumblebee can't do it." Li Yong sighed.

If it is normal, he can wait, but now the Bumblebee is in a time of life and death, and he cannot put all his hopes on Baidu.

This is actually a big problem for ordinary entrepreneurs. When a company develops to a certain level, it requires external financing support. It is not easy to find financing itself. Venture capitalists have always added icing on the cake, not timely help.

If you develop well, you don’t have to take the initiative. Venture capitalists will come to discuss cooperation, but if the development is average, it is difficult to meet a venture capital representative. Moreover, even if you meet it, various negotiations will waste time and delay the golden opportunity for the company’s development.

Therefore, an important factor in the success of many entrepreneurs is the accumulation of personal connections. For example, Xiaomi's Rebs is very famous in the Internet industry. When he was about to establish Xiaomi, third-party investors only knew that he wanted to start his own business. Without even asking about the project content, they invested $5 million.

Li Yongjin was a senior executive of Tudou.com before, but his fame and relationship were not enough to reach Baidu's senior executive, which made Bumblebee lose this important opportunity.

Li Yongjin continued: ‘How is the Shanghai side in Shanghai during this period?’

"It's not good. Although Didi's investment has dropped a little, it seems to have a strong momentum. I guess if any of the companies jump out, Didi will soon subsidize again." Deng Wei said: "Because of funds, I can only provide a limit subsidy for each user once a day. The subsidy amount is not lower than Didi. In this way, it can maintain popularity, but it won't work for a long time."

Li Yongjin asked: "Last time you said Jinshajiang Venture Capital was interested in investing in us, how much money would they be willing to pay?"

"2 million US dollars," said Deng Wei: "But they want 40% of the shares, and they have also put forward many unfavorable conditions for us, including some betting agreements. Once we lose, Bumblebee will have nothing to do with us."

"The greed of these people is really impossible to change even if you die." Li Yong almost punched the table with a fist.

When entrepreneurship in the Internet, the probability of encountering unintentional venture capital is actually very low. Most venture capital is capitalists, that is, vampires. It is true that they develop together, but they also need more shares and have various conditions to avoid investment losses. The logic of avoiding losses is naturally to the founders. Only when the startup company develops well and has enough confidence can venture capital be afraid of negotiation failure and dare not make excessive demands.

Deng Wei frowned and said, "But if we don't accept it, we won't be able to hold on for long, unless we lay off employees and reduce subsidies, but then the previous efforts will be in vain."

Users' memories are generally bad. If Bumblebee stops subsidies, under the current offensive of Didi, it will probably disappear completely in half a month.

"Ding Ding Ding..." The phone rang on the table. Deng Wei looked at the number and said it was the front desk.

"Mr. Deng, there were two people coming from the front desk. They claimed to be ding-die." The phone call came from the front desk.

"Dingdi?" Because the phone was in hands-free state, Li Yongjin naturally heard the content clearly.

"Okay, please come to my office." Deng Wei hung up the phone after saying that, and said, "What are the people who are dide to do?"

"No need to guess, I'll know later." Li Yongjin felt at this moment, but there wouldn't be any worse things anyway.

The front desk brought the two to Deng Wei's office. Li Yongjin was shocked when he saw someone.

"Mr. Li, Mr. Deng, I am Zhang Bo, general manager of Didi, and this is my assistant Wang Sa." Zhang Bo introduced angrily.

"Mr. Zhang, I'm not welcome, please sit down." Although he is a competitor and the other party has forced his company into a desperate situation, since he has come to his own company, a kind of polite reception is still indispensable.

Deng Wei smiled and said, "I laughed at you, Mr. Zhang, the environment here is a bit bad."

Zhang Bo smiled and said, "It's all here. When we were in Yanjing, we didn't get much better."

Li Yongjin poured a cup of tea himself and asked, "Mr. Zhang, I don't know what advice do you have for us Bumblebee?"
Chapter completed!