In recent years, word jumping has developed rapidly.
However, the amount of money required is also enormous.
Although Zitiao has now gone through five rounds of financing: angel investment, Series A, Series B, Series C, and Series D.
However, the funds are still insufficient.
Internet companies are burning through cash.
"Chairman, I heard that our group recently completed its Series D financing and raised $1 billion."
"Can't you spare some to help Douyin develop?"
Zhang Xuebin wasn't buying it.
In short, he's not planning to leave unless he raises some funds this time.
"You're really well-informed."
"That's right, the company did indeed secure $1 billion in funding."
"However, this fund is intended for other purposes."
"Cannot be used on Douyin."
The chairman looked somewhat helpless as he spoke.
Actually, he had considered allocating some funds to Zhang Xuebin.
However, when the news broke out out of nowhere, and immediately after its release, over 40 million DaXia coins were poured into it.
He knew that Douyin had no chance against Kuaixun!
They have incredibly strong financial backing.
What will they use to fight?
"Chairman, are we just going to let Douyin go like this?"
"Should we just let him fend for himself?"
Zhang Xuebin said somewhat unwillingly.
To him, Douyin is like his own child.
He absolutely couldn't bear to give up like this.
"What else can we do?"
"The news came too suddenly."
"We simply can't hold them off."
"Unless we also find a powerful and wealthy patron to compete with them."
"But is that even possible?"
"Douyin is just a short video app."
“Those investors won’t invest much money until they see a return on their investment.”
"Moreover, with the company's financing, many things are no longer something I can decide to do."
"I also need to hear the opinions of other shareholders."
The chairman said with a hint of helplessness.
While financing may benefit the company's development, it undoubtedly reduces the founder's power significantly.
Many decisions cannot be made simply because he wants to.
"this……"
Zhang Xuebin fell silent upon hearing the chairman's words.
Because he knew that what the chairman said made sense.
"Alright, you can go back now."
"With so many companies under our group, a short video is nothing to take too seriously."
"Let's focus our energy on other projects."
Judging from Chairman Zhang Xuebin's expression, it was clear that he understood what he meant.
He immediately said it again.
From his words, it's clear that he plans to abandon the Douyin short video app.
In his view, it's just a short video app; even if it develops, it won't have much impact.
Take Kuaishou for example. It came out much earlier than Douyin, but it hasn't achieved much success.
Moreover, there were quite a few early short video websites.
Companies like Tudou.com have been acquired, haven't they?
"Yes, Chairman, I understand."
Zhang Xuebin sighed helplessly.
He knew that no matter what he said, the chairman would no longer care about Douyin.
It will only fend for itself.
Without this capital support, Zhang Xuebin is certain that within six months, no, not even three months.
Douyin's hard-earned user base will likely be snatched away by KuaiXun.
There's nothing we can do; they're willing to spend the money.
"Okay, you can go back now."
"After a while, when Douyin is shut down."
"I'll transfer you to another department."
The chairman spoke again.
From his words, we can tell that he has completely given up on Douyin.
There was absolutely no intention to compete with breaking news, or rather, with the digital age behind breaking news.
Actually, it's not that he didn't want to fight.
Rather, he knew he simply couldn't win.
How powerful is the capital behind the digital age?
A billionaire ranked fourth on the Forbes list.
Moreover, this billionaire may or may not be the same person as others.
He possesses cash that is beyond the imagination of others!
Want to compete with a cash flow tycoon like this?
Stop dreaming!
We simply can't afford to fight.
We don't have the funds to do it.
Moreover, besides this mainland tycoon, the other partner is also someone with a significant background.
The super-rich on Hong Kong Island.
The entire family's assets are probably worth hundreds of billions.
With such a powerful combination, what does he have to compete with others?
If we were to force ourselves to fight, it would be like an egg hitting a rock.
He would never do something so unwise.
Therefore, after discovering the capital behind the news, the chairman had already decided to give up Douyin.
Fortunately, their group has many other products.
Losing one Douyin (a type of vocal cord) is not a big deal.
At this moment, the chairman had no idea that by giving up Douyin, he was essentially giving up hundreds of billions of yuan.
That's a super-powerful software that will be worth hundreds of billions in a few years.
Of course, even if he knew, there was nothing he could do.
That's the saying.
A competition of resources?
He can't win!
——
In the blink of an eye, another half month has passed.
My dear reader, there's more to this chapter! Please click the next page to continue reading—even more exciting content awaits!
Continue read on readnovelmtl.com
