When he heard the word "Thunder", Li Xueliang was suddenly startled.

If there is anything that is widely circulated in industry circles during the Chinese New Year this year, it is undoubtedly the fact that Xunlei failed to go public in the United States.

Lu Heng sighed, "You must have heard the detailed situation from Brother Jun! They failed and came back from the United States sadly."

Li Xueling's face was not very good, he shook his head and said: "I didn't know from Brother Jun that my relationship with Zou Shenlong is okay. I have been in contact with him from the road show to later going to the United States."

While saying these words, Li Xueliang couldn't help but recall what happened a few months ago.

Every item, every item, made him, an industry insider who wanted to go public, feel confused.

At the end of 2010, Xunlei began to consider launching an IPO.

In February 2011, Wrinkle Shenlong obtained a valuation of US$1.5 billion to US$2 billion during a pre-road show. With confidence in the capital market, he took Xunlei on the road to Nasdaq IPO

.

March is an encouraging time for everyone.

Qihoo 360, led by Zhou Hongwei, was officially listed on the New York Stock Exchange. Its IPO was oversubscribed 40 times, making it one of the most successful IPO transactions for a Chinese company in the United States this year.

The news of this news made countless people happy, especially Xunlei, which was ready to go public.

But the subsequent development exceeded everyone's expectations.

A financial scandal broke out in Southeast Rongtong, and the Alipay vie incident triggered a crisis of integrity. The largest IPO of the year shrunk by 60%. Investors suffered huge losses, and the capital market began to enter winter!

Xunlei panicked, and Zou Shenlong quickly adjusted his mentality and adjusted the expected valuation from 15 to 2 billion to 10 to 1.5 billion.

The valuation has been lowered to US$500 million!

Li Xueliang talked with Zou Shenlong late at night and knew that what the other party could really accept was 1.2 billion, which was a 25% reduction based on the original valuation.

But even so, it still doesn't work.

The entire Xunlei team had to make adjustments, and was finally locked in at US$700 million.

US$700 million, compared with the original upper limit of US$2 billion!

This is even more terrifying than being cut in half!

Zou Shenlong couldn't accept it, the Xunlei team couldn't accept it, and the investors behind Xunlei couldn't accept it even more.

Everyone knows that on Wall Street, one billion U.S. dollars is a watershed. If an IPO cannot exceed one billion dollars, it will be a small company and it will be difficult to get up later.

Therefore, the IPO was cancelled, the listing failed, and everyone returned from abroad.

The originally ambitious journey to go public has turned into a joke. Even now, Xunlei is still a little lifeless and unable to breathe.

Li Xueling raised his head in confusion, looking at Lu Heng's resolute and steady face in the haze of smoke.

"Lu Heng, let me hear what you think. Don't worry, I will listen to your heart and won't let it go in one ear and out the other."

Lu Heng waved his hand, "It's not that serious, I just have a discussion with you."

Taking a deep breath of cigarette, Lu Heng said solemnly: "I used Xunlei as an example to illustrate one thing. The importance of timing! Obviously, Xunlei's IPO is very likely to be successful. After all, the high valuation of the pre-roadshow

It's there. But why did they fail? The reason is that they didn't grasp the timing well and chose the worst time!"

"Similarly, if Happy Times wants to go public, it has to choose a good time. It definitely won't work this year. I just asked you to think about it early, but I'm not asking you to prepare to go public this year. However, it won't work this year, and it's definitely not what you said.

Plant and see again in a few years!”

"When that time comes, it is estimated that both YY and YY will have lost their best opportunity."

Li Xueling bit his cheek, and every puff of cigarette went straight into his lungs. The nicotine made him highly concentrated at this moment.

"Then when will our best opportunity be?"

Lu Heng frowned, "I can't give you this answer. Even the best investors and the most professional analysts can't give you this answer. You need to control it yourself."

Li Xueling clenched his fists, feeling heavy pressure at this moment.

"But I can give you an idea. Think about it. YY's success is based on an amazing user base, huge cash flow and considerable profits. And these three points are completely dependent on computer equipment. As a company completely in South China

YY, which grows inwardly and is naturally separated from the world's most fashionable concepts and hot words, is actually an Internet company with purely Chinese local logic. You probably know how many people in China have computer equipment. Our users

When the base reaches a certain level, we may hit the ceiling."

What is the population of China and how many people own computer equipment?

Li Xueling's heart tightened. The current 200 million users seemed to have touched the ceiling.

He was a little unwilling and asked tentatively: "But we were already exploring the mobile terminal last year. There should be opportunities for growth, right?"

Lu Heng asked him: "In addition to the profit point of music, doesn't the main profit point of yy come from games and voice time? Then do you think people who use mobile terminals to play yy don't have a computer next to them?"

Li Xueling bowed his head. Mobile users and PC users actually overlapped.

Even with the development of mobile terminals, in fact, the user base still does not exceed the previous statistics of computer users by much.

Seeing Li Xueliang's loneliness, Lu Heng tried to comfort him: "Of course, the live broadcast that YY mainly operates is also a way out."

Li Xueling shook his head, "But the 4G communication environment has not yet arrived, and live broadcasts can only rely on computer equipment. The path you are talking about is the future, not the present."

Lu Heng shrugged. Since it was meant to comfort him, it meant that it was not of much substantial help.

Of course he also understands this truth.

China is still in the 3G era, while developed countries in foreign countries started the 4G era last year.

If China wants to completely enter the 4G era, according to the information disclosed by the country, it may have to be next year, or maybe 2013.

There is still a year or two left in the middle, yy, or even the entire Happy Reunion era, just wait?

Although the atmosphere was a bit heavy, the two of them were not too pessimistic.

In the final analysis, if Li Xueliang really finds a good time and successfully launches Joyful Times, it will be a bright road after breaking the ice.

"Learn from Ling. From now on, it's up to you!"

Li Xueliang put out his cigarette butt, cheered up, and smiled freely.

"You gave me this reminder today, which is the greatest help to me. Happy Reunion Era is my masterpiece, and I will definitely not let it fall into the same fate as Xunlei!"

The two looked at each other and smiled, each feeling somewhat confident.

Since Xunlei was mentioned, the two chatted about some interesting things in the industry.

Will Xunlei die if it fails to go public? Or will a giant take a fancy to his download business and acquire it?

After some discussion, the two even concluded that Xunlei still has a chance to make a comeback and return to the listed exchange.

While chatting, Li Xueling turned the topic to Lu Heng.

"By the way, what do you think about Didi Taxi?"

"Uh, what do you mean?"

"Some people think your business model is not mature enough!"
Chapter completed!