Time returned to six days after Shang Fuhai and Sina Weibo completed the equity transaction, just the fourth day after their transaction, Zhou Hongyi of Qihoo 360 also completed a new equity transaction with Haina Asia. The same "low valuation" completed the transaction with 1.5 billion yuan. Toutiao was sold two consecutive transactions in a low price within 10 days. This result directly stimulated the founder of Toutiao, who quickly came to Zhang Yiming, who was famous for "low-key".

How low is he?

There are rumors that Toutiao’s round B financing valuation is only 500 million yuan. How did this price come about?

Originally, during the B round of financing, Toutiao's download volume had exceeded 100 million, and the daily active users were also very high. However, when Zhang, a tycoon from a technical owl, explained Toutiao to the capital party, he directly discounted all the data of Toutiao.

Capital itself is profit-seeking. They always believe in one sentence. The data in entrepreneurs’ mouths are all beautiful. In this regard, when they are actually raising funds, they gave him a 20% discount on the data of the boss Zhang, so that in the end, no one almost invested in him during the B round of financing.

This also caused Toutiao to be a very popular APP. Compared with its own data, the valuation results of the B round of financing can only be said to be very small.

Let’s talk about these two equity transactions that are “sold at a low price”, especially after Sina Weibo sold the shares and promoted them through various channels. The main theme of the promotion is two aspects.

"First, they started with the B round of financing and made three times the profit on Toutiao in a year, making a big profit!"

"Second, they are seriously unfavorable to Toutiao's future. Whether in terms of foundation or capital, Toutiao is compared to Sina Micro

Bo is a true little brother. He is happy and unhappy, but he just presses it to the ground and rubs it hard, without any threat."

As soon as these two remarks came out, Zhang Yiming was directly stimulated, so that he directly posted a domineering declaration on his headline account, which was written in this way.

"Warm congratulations to Toutiao for its cumulative user downloads of more than 310 million and the number of daily active users exceeds 30 million."

Once this message was sent, it was like hearing thunder in silence, which immediately caused an uproar in the technology circle. Even in the capital circle, all their voices were dry and their foreheads were cramped. Most of the capital giants who had once closed their Toutiao to the door and bit their teeth in regret.

You should know that the last time Zhang Yiming posted a message on his headline account was in March 2015, and the information he posted was like this.

"Warm congratulations to Toutiao for its cumulative user downloads exceeding 180 million, and the number of daily active users exceeds 15 million..."

In just three months, it was just one quarter, with the cumulative download volume of users rising by 130 million? The number of daily active users has doubled?

Is it possible? Obviously, the data published by Zhang, a big shot who has always been "low-key", was automatically filtered again last time. He seriously compressed the off-market value of Toutiao. I really don't know what he was thinking, or is the brain circuit of a technology gull different from that of a normal entrepreneur?

Having said that, such two boring sets of data seem to be inconvincing, so let’s compare this set of data.

Just last year, Sina Weibo's monthly active users reached a peak of 340 million. After that, due to the exposure of various problems, the number of peak active users has been a unilateral decline. Then until the end of last year, because Tencent and NetEase announced their withdrawal from the Weibo field, Sina Weibo also announced the 140-word limit to publish text at the beginning of this year, the number of active users of Xinwei once again increased significantly, but even so, it did not touch the peak value of last year again.

But now, the information published by big boss Zhang has exceeded 310 million, and the number of daily active users has exceeded 30 million. This means that based on the calculation of 30 days a month, its monthly active users is 900 million?

Of course, this data must be discounted, but even if it is half the discount, there is still 450 million monthly active users. But is it possible that the discount may be so much?

It is higher than the number of monthly active users on Sina Weibo! It is not a little bit higher!!!

Let’s talk about Sina Weibo, it is a listed company trading in Nasdaq. Its market value is determined by the market. It is very clear, what is it?

At the peak of this year's market value, its market value was US$4.7 billion. Later, due to the restrictions on international public opinion freedom and the suspected secret leakage by the United States, its stock market value began to fall unilaterally, but the lowest was above US$3 billion.

So where is the headline?

Its Series B financing last year was valued at US$500 million. In early June this year, it had its latest valuation of 1.5 billion yuan and was acquired by Shang Fuhai for 5% of the shares in Xinwei. Even the shares in Qihoo were sold to Haina Asia Capital at the same valuation.

In other words, the market has re-recognized and reached a consensus on this valuation. Its market valuation in early June this year was US$1.5 billion.

Originally, if Xinwei had not made such a big publicity and took the opportunity to suppress the headlines, the big boss Zhang would not have made such a "high-profile" official announcement, but the matter happened. The angry Zhang Yiming was like an active volcano that erupted at any time, erupting directly when it reached and pierced its balance point.

The volcanic ash mixed with blazing magma swept across the road, directly crushing the awesome Xinwei and the secretly complacent Qihoo shareholders, and also igniting the fire in the capital circle.

“But in terms of monthly active users, it is better than the new micro.”

This has become a consensus in the capital circle, so that even if Toutiao has not been listed yet, its value and unreachable future development are even more unpredictable. Capitals are also more enormous about its future talent, and Toutiao is more valuable than Xinwei.

In just a few days, Toutiao's latest valuation popped up one after another. It took less than half a day from US$3 billion to US$3.5 billion, and then the valuation jumped to 3.8 billion…4 billion…4.5 billion, so when it finally broke through the 5 billion mark and continued to rise, it only took two days.

What’s amazing is that no one refutes it. Under the surging undercurrents, all kinds of reasons have been put forward to support its latest valuation, as if it should be worth this price, and it should always be this price!

$1.5 billion?

Are you sure you're not kidding?

Do you have Toutiao shares in your hands? Sell your shares to me and I can buy them at a high price or not!

Haifei Capital, which caused the headline valuation to soar this time, and Haina Asia, which is also a vested stakeholder, were both secretly happy. Even Shang Fuhai didn't know these things at this time.

He has been busy with his latest plans these days, and he has no time to care about other things.

Not to mention the valuation of Toutiao, he has no intention of selling it in the short term. He remembers that in the 2018 Toutiao Pre-IPO financing round, its valuation had reached an unprecedented 75 billion yuan, completely exceeding Baidu's market value and becoming the number one value recognized by the similar products market. There are even big players who say they can support it. Its value should be a giant company worth 100 billion US dollars.

As for Shang Fuhai, this guy is busy feeding his daughter for dinner, but the little guy is in a state of emotion today, so he refuses to eat it. You brought the tender, soft and soft egg custard to your mouth. She immediately twisted her head to the other side, and shouted in a speechless manner while blocking it: "Brain Axe, Brain Axe..."
Chapter completed!