Himalaya is about to go public, waiting for many years, but this time there is substantial progress.
Recently, China's online audio sharing platform "Himalaya" officially submitted an IPO prospectus for an initial public offering to the US Securities and Exchange Commission (SEC). Goldman Sachs, Bank of America and Morgan Stanley are their co-underwriters, while Tencent, Yuwen, Baidu, Xiaomi and Good Future are strategic investors.
Himalaya went public in the United States, and Pucheng yu Jianjun accounted for 17.2% of the shares.
Yu Jianjun, an alumnus of pucheng No.1 High School in the class of 94 and co-founder and co-CEO of Himalaya
At the end of last month, the fourth Digital China Construction Summit was successfully concluded in Fujian, which aroused great concern from the outside world, and many people said: China's digital economy has been "card slot" by Fujian people!
Zhang Yiming, founder of ByteDance, the parent company of Today's Headlines and Douyin, and Wang Xing, the owner of Meituan, are from Longyan, Fujian; Pinduoduo, founded by Chen Lei, a native of Fuzhou, can now compete with Jack Ma's Alibaba's Taobao, Tmall, and Liu Qiangdong's JD.com. In addition, Meitu boss Cai Wensheng and founder Wu Xinhong are from Quanzhou, while China's online audio sharing platform "Himalaya" was founded by Yu Jianjun, a native of Pucheng, northern Fujian; in addition, people like NetDragon, New World, Bitmain, Snowball, etc., are also founded by Fujian people.
No wonder some people say that Fujian people have contracted the eyes, ears, noses and hands of the Internet era, and the digital economy has the shadow of Fujian people everywhere.
"Only hear the sound of the stairs, do not see the people going downstairs", China's online audio sharing platform "Himalaya" has been rumored to be listed for a long time, but there has been no following. On May 1, Chinese online audio platform Himalaya filed an initial public offering (IPO) application with the U.S. Securities and Exchange Commission (SEC), which is expected to sprint to the Listing on the New York Stock Exchange under the ticker symbol "XIMA".
Himalaya was founded in 2012, and the co-founder and co-CEO of Himalaya is Yu Jianjun, a native of Pucheng, Fujian Province. According to the prospectus, in terms of equity structure, before the IPO, co-founder Yu Jianjun owned 54,665,351 ordinary shares, accounting for 17.2% of the shares.
In addition, Mingwang Xiong owns 34,129,560 shares of common stock, representing 10.7% of the shares; Xingren Li, Jieqiang Shen, Dong Li and Dong Wang each hold less than 1%. In terms of shareholding structure, Himalaya directors and executives hold a total of 91,047,337 ordinary shares, representing a shareholding ratio of 28.6%.
Himalayan co-founders Yu Jianjun (right) and Chen Xiaoyu (left)
The IPO prospectus also shows that before the IPO, The major shareholders of Himalaya were: Xima Holdings Limited (Himal Holdings Limited) held 43,278,304 ordinary shares, accounting for 13.6% of the shares. The company is 100% wholly owned by Yu Jianjun.
Touch Sound Limited ("Touch Sound Limited") holds 43,054,513 shares, or 13.5 percent, of its common stock, which is wholly owned by Yuxin Chen. In addition, Trustbridge Partners VII, L.P ("TrustTrust Capital") holds 23,757,634 ordinary shares, representing 7.5% of the shares. Image Frame Investment (Hong Kong) Limited, a subsidiary of Tencent, holds 17,176,954 ordinary shares, representing 5.4% of the shares.
At present, Tencent, Yuwen, Baidu, Xiaomi, Good Future and Sony Music are strategic investors in Himalayas; their main financial investors include Transatlantic Investment Group, Trusttrust Capital, Goldman Sachs, Xingwang Investment, Genesis Partner Capital, Puhua Capital, He whale capital, etc. Goldman Sachs, Morgan Stanley, Bank of America and CICC acted as co-lead underwriters for Himalaya's IPO in the United States.
Himalaya could raise $500 million to $1 billion as early as the second quarter of this year. According to reports, people familiar with the matter revealed that the valuation of Himalaya in this IPO may exceed 5 billion US dollars, which is 10 times the market value of Lychee, the "first share of China Audio", at the beginning of its listing.
On January 17, 2020, Lychee, the largest UGC audio community in China, was listed on Minas Daq, giving birth to the first share of online audio in China. Litchi implemented the "green shoe mechanism" when it went public, and at that time, it was rumored that Himalaya had launched a Pre-IPO financing at the end of 2019, with a financing amount expected to be about $350 million, and would seek to go public in the United States in 2020.
Founded in 2013, Lychee is located in Guangzhou Yangcheng Creative Industry Park, which has successfully incubated listed companies such as live broadcasting industry giant Huanju Group (YY) and Internet music giant Kugou (Tencent Music Group).
Himalaya Co-CEO Yu Jianjun (middle)
The listing of Himalaya can be described as a series of twists and turns, as early as 2018 and 2019, there were many news of IPO, but they were denied by the company.
In recent years, Himalaya's revenue has achieved strong growth, and it has brought together a diversified audio layout such as audio books, FM radio, children's bedtime stories, and cross-talk sketches. From 2018 to 2020, Himalaya's revenue was 1.476 billion yuan, 2.677 billion yuan and 4.05 billion yuan respectively, and the revenue in the first quarter of this year was 1.155 billion yuan.
The prospectus also shows that Himalaya's monetization channels and commercialization capabilities are gradually increasing, and the main monetization channels are paid subscriptions, advertising, live broadcasting, education services, etc., becoming the leader of the domestic audio sharing industry platform. Among them, paid subscriptions exceeded 1.7 billion yuan in revenue last year, accounting for 43.3%.
At the same time, similar to many digital economy platforms, Himalaya has always been in an embarrassing situation of not making money. According to the prospectus, Himalaya's net losses in 2018, 2019 and 2020 were 773.7 million yuan, 773.3 million yuan and 606.1 million yuan, with a cumulative loss of more than 2.153 billion yuan in three years. In the first quarter of this year, although Himalaya achieved steady revenue growth, the loss continued, with a net loss of 270 million yuan.
The main reason for Himalaya's loss is that in addition to content costs such as copyright fees, there are also revenue sharing, marketing and other expenses. The embarrassing situation of increasing revenue without increasing profits has also made many people question the sustainability of the endogenous driving force for the growth of their company's performance.
It is worth mentioning that at present, Internet giants such as Tencent and ByteDance, in addition to short-term and medium-length videos (such as watermelon video, vibrato, weChat video number), have also cut into the audio field, making the competitiveness of Himalaya online audio severely challenged. In addition, the use of baidu network disks and other applications has made the competition in the online audio market more incentivized, and it also directly threatens the interests of Himalayas and the expansion of monetization channels.
No part-time work, only entrepreneurship: men and women are a good partner
Yu Jianjun (5th from left) at his alma mater, Pucheng No. 1 Middle School
Some people refer to Yu Jianjun in the Himalayas, Lü Jianjun in the Spring and Autumn Period, and Zhu Weijie in the Media of Freedom as the "Three Masters of Culture" in Pucheng. Lu Jianjun, chairman of Spring and Autumn Times Pictures Co., Ltd., established his own advertising company in 1993, and then invested in real estate, and stepped into the field of film and television production in 2002, the most famous works such as the movie "Wolf Warrior 2".
Zhu Weijie, the post-80s helmsman of Zizhi Media, has led the publicity planning of many film works such as "Pancake Man", "Wrestling Bar Daddy", "Notes from the Tomb Robber", etc., and he has also served as the producer or producer of many films. Yu Jianjun, Lü Jianjun and Zhu Weijie were all natives of Pucheng, northern Fujian.
Pucheng County, located in the northernmost part of Fujian Province, the junction of Fujian, Zhejiang and Gansu provinces, is known as the "North Gate" of Fujian, since ancient times, it is the first pass of the Central Plains into Fujian, and it is also the third largest county in Fujian Province, a county under the jurisdiction of Nanping City, and has the reputation of "the hometown of China's Dangui".
On December 18, 2019, Pucheng and Himalayas signed a strategic cooperation agreement, making Yu Jianjun's hometown Pucheng County the first Himalayan "sound city" demonstration city in China.
Liantang School Yu Jianjun Award Teaching Award Ceremony
Yu Jianjun, born in 1977, a native of Pucheng, Fujian Province, attended Liantang School in Pucheng County when he was a child, and at the awarding ceremony of the Yu Jianjun Award at Liantang School last December, his entrusted representative Lu Hongwu said that Yu Jianjun often remembered that he was cultivated by Liantang School when he was a child, and was cared for and cared for by teachers, laying a solid foundation. Liantang School is located in Liantang Town, Pucheng County.
It is worth mentioning that on May 3 this year, Yu Jianjun made a special trip back to Pucheng to participate in the unveiling ceremony of the Confucius statue held in the new campus of Pucheng No. 1 Middle School, which was donated by him. Yu Jianjun is an alumnus of Pucheng No.1 Middle School class of 94. Pucheng No.1 Middle School, which celebrates its centenary anniversary, was founded in September 1921, and the old school site was the original site of the Pucheng Confucian Temple, which was relocated in the 16th year of Ming Zhengde.
The Pucheng Yu clan has a population of nearly 10,000 people, but it is not a local surname.
Yu Jianjun, from 1994 to 2001, studied mechanics at Xi'an Jiaotong University, obtained a master's degree in engineering, studied and lived in Xi'an Jiaotong University for 7 years, and his entrepreneurial career also started in Xi'an.
Since 2001, Yu Jianjun has successively founded Jietu Software, The Street View Map Project City Bar, and the Virtual World Project "The World There". After 2011, he turned his attention to mobile audio, and in 2012 co-founded Himalaya FM with partner Xiaoyu Chen. No wonder some people say that Yu Jianjun is a "continuous entrepreneur" who does not work and only starts a business.
Himalaya co-founders Yu Jianjun and Chen Xiaoyu
"After meeting the founders of Himalayas, Yu Jianjun and Chen Xiaoyu, I am very fortunate that this column has finally lived up to the name of 'Golden Boy and Jade Girl'." Someone wrote about the two men and women in the Himalayas in the article.
Two blossoms, each with a branch, is now the co-founder and co-CEO of Himalaya FM Chen Xiaoyu, who studied chemical industry at university, and later studied finance in Wudaokou, and was transferred to Zendai Group under the Shanghai beach tycoon Dai Zhikang as an investment director and assistant to the chairman.
When investing in the Construction of the Himalayas Art Center, Zendai's investment director, who was recommended by a friend and was responsible for finding a partner, met Yu Jianjun. During the exchange, she was attracted by the street view map project city bar founded by Yu Jianjun, and the two "hit it off", leaving Chen Xiaoyu of Zendai university to co-found the "World There" company with Yu Jianjun, and she also got 20 million yuan of angel investment from the old owner Dai Zhikang's Zendai.
On the road to entrepreneurship, "men and women match, work is not tired", but also emerged a lot of entrepreneurial classic partners, Himalayas Yu Jianjun, Chen Xiaoyu is a fairly successful pair, such as Didi's Cheng Wei and Liu Qing, Luo Ji's Thinking Luo Zhenyu and Debuhua, etc., is also a perfect combination of "male and female matching".
"Men and women match, work is not tired", is a psychological phenomenon, in partnership entrepreneurship, based on the strong complementarity of men and women, especially female entrepreneurs to be soft, careful, wisdom of the strong, coupled with her super public relations ability, often can achieve great things, a thing to do more perfect, more outstanding!
This article is a wave of original content
Unauthorized reproduction and sending of excerpts in any form is strictly prohibited