It's a fight! Li Ziqi formally sued his former partner, a war without a winner?

Dot blue letter attention, do not get lost~

Three months after the video was suspended, a complaint brought the contest between Li Ziqi and "capital" to the surface.

Li Ziqi and Hangzhou Wei Nian confronted the court

According to the investigation, on October 25, Sichuan Ziqi Culture Communication Co., Ltd. (hereinafter referred to as Ziqi Culture) added a new case filing information, and the company sued Hangzhou Weinian Brand Management Co., Ltd. (hereinafter referred to as Hangzhou Weinian) and Liu Tongming, the legal representative of Weinian, in court. The Economic Measures Court is the Intermediate People's Court of Mianyang City, Sichuan Province.

According to the investigation, Sichuan Ziqi Culture Communication Co., Ltd. was established in 2017, and Li Jiajia (Li Ziqi) is the legal representative of the company, with a shareholding ratio of 49% and a subscription amount of 490,000 yuan. Hangzhou Weian Brand Management Co., Ltd. holds 51% of the shares, and the subscription amount is 510,000 yuan. Through equity penetration, Liu Tongming is a suspected actual controller.

Li Jiajia, a well-known Chinese short video content creator Li Ziqi, has a global influence of ip, known as "Oriental Gourmet Life". With over 100 million followers worldwide, it set a world record for "the most subscribed YouTube Chinese channel". In addition to shooting videos, Li Ziqi also launched various foods such as snail lion powder, sour and spicy powder, lotus powder, and sesame paste with personal IP. According to the data, the annual sales scale of the Li Ziqi brand in 2020 is about 1.6 billion yuan. Among them, the monthly sales of light snail powder exceeded 1 million, and 500 million yuan of snail powder was sold in a year.

Previous media reports said that the well-known Internet celebrity Li Ziqi has been suspended for three months, and there is speculation that the reason for Li Ziqi's suspension is that she has recently fallen into an equity dispute. Commentators pointed out that in the cooperation with MCN (Internet red economic operation model) agency - Weinian, Li Ziqi suffered a big loss in the equity structure. There is even a big V pointed out that Li Ziqi should have signed a deed of sale, with joint and several responsibilities, that is, he can't go out and do it alone, and the other party can sue! Some analysts have pointed out that Li Ziqi and Wei Nian will face the court in court, which will be a war without a winner.

It is understood that Li Ziqi did not update the video content since July this year, and during this time, news about Li Ziqi has continued to emerge, including the fraudulent use of the Li Ziqi brand, the team being dug, and Li Ziqi calling the police. Until August 26, Li Ziqi's assistant said that the suspension was because Li Ziqi was spending more time studying. Four days later, Li Ziqi himself posted on the platform "Early in the morning to report to the police." And on August 29, he replied to the comment that "capital is really a good means", and then deleted the comment in seconds. Therefore, the outside world speculates that Li Ziqi and Hangzhou Weinian have a disagreement.

In September, Li Ziqi's assistant posted on Weibo that he had only been sorting out the company's problems with third-party companies for the time being, and there was no information such as the team being dug up by the Internet rumors. He also said that from the beginning of Li Ziqi alone to now, the team has only four people. In addition, Li Ziqi has not had a brokerage contract relationship with Hangzhou Company since the establishment of Sichuan Ziqi Culture in December 2017.

What is the relationship between Li Ziqi and Hangzhou Weinian?

Hangzhou Weinian said that the company initially paid attention to Ms. Li Ziqi's works and issued a cooperation invitation to her. After communication and contact, the two sides reached an agreement and began to cooperate in September 2016, the company provided weibo resource promotion services for her, ms. Li Ziqi to fully devote her energy to content creation. In July 2017, Ms. Li Ziqi and WeiNian changed the cooperation model, the contract model changed to the joint venture company model, and jointly established Sichuan Ziqi Culture Communication Co., Ltd. to prepare the Li Ziqi brand and operate together.

Hangzhou Weinian started from the MCN business in the early days and has now developed into a new consumer brand company in the process of growing. The main business is to sell food, and there are some advertisements.

According to public information, Hangzhou Weinian was founded in 2013 as a new consumer brand company with the ability to incubate and deeply integrate KOLs (key opinion leaders). Since april 2016, starting from the preparation of MCN, Wei Nian has received a number of well-known Internet celebrities, such as Xiangsheng Roast Chicken, Zhongni, popular blogger Kakaoo-, fashion blogger Wang, Fang Yuan, 2020 Huo Ti ti who is popular all over Douyin, and so on. But what really made Wei Nian famous was the addition of Li Ziqi.

Shareholder information shows that the major shareholder of Hangzhou Weinian is Liu Tongming, with a shareholding ratio of 19.45%. The second and third largest shareholders are Suzhou Hua xingzhihao venture capital center (limited partnership) and Beijing Weimeng Chuangke Venture Capital Management Co., Ltd., with a shareholding ratio of 10.496% and 10.008% respectively. In addition, Beijing Quantum Yuedong Technology Co., Ltd. holds 1.371% of the shares, making it the sixteenth largest shareholder. Beijing Quantum Yuedong Technology Co., Ltd. is a wholly-owned subsidiary of ByteDance.

In July this year, Hangzhou Weinian completed a round of financing, and the new investors in this round are ByteDance, as well as the old shareholders Huaxing New Economy Fund, Chunbi Qiushi, Huaying Capital, and Taihe Capital as the financing advisers for this round. According to media reports, the valuation of Hangzhou Weinian in this round of investment is as high as 5 billion yuan. Up to now, Hangzhou Weinian has completed 7 rounds of financing, and the investors include Huaying Capital, Chenhai Capital, Sina Weibo, Huaxing New Economy Fund, Zhongyuan Capital, etc.

The biggest beneficiary of the entry of capital is the founding team of Hangzhou Weinian. One of the biggest beneficiaries is Liu Tongming, chairman and general manager of Hangzhou Weinian. As the largest shareholder of the company, he directly holds 19.5% of the shares, and the ultimate beneficiary shares are 20.2%, worth about 1 billion yuan.

Some insiders in the venture capital circle believe that byteDance and other capital investments in Hangzhou Weinian are interested in the binding relationship between the company and Li Ziqi. Especially after the fire on YouTube, Li Ziqi has more than 100 million fans worldwide and has a huge influence. It is said that on YouTube, Li Ziqi channel only relies on advertising revenue of 500,000 US dollars per month, which is a very important reason for the optimism of many capitals. As the founder of Li Ziqi's IP and the largest contributor to the company's traffic, Li Jiajia herself does not hold the equity of Hangzhou Weinian and cannot benefit.

Chen Xin, a professor at shanghai advanced school of finance at Shanghai Jiaotong University, said that Hangzhou Weinian is the largest shareholder of Ziqi Culture and has relative control. According to the Company Law, the replacement of executive directors and legal representatives is a general voting matter that requires only more than half of the voting rights. If the company's articles of association of Ziqi Culture do not have special provisions, Hangzhou Weinian, which holds 51% of the shares, has the ability to forcibly remove Li Jiajia from her position and take over the company. In addition, the company's daily business policy and investment plan, the company's profit distribution plan, etc. are general voting matters, and also within the scope of Hangzhou Micro-thought's ability to influence decision-making.

Moreover, Liu Tongming, as a supervisor of Ziqi Culture, not only has the right to propose to convene an extraordinary shareholders' meeting, but also enjoys a series of rights such as inspecting the company's finances and proposing a shareholders' meeting, which can be checked and balanced when Li Jiajia does not cooperate.

In addition, Li Ziqi Tmall flagship store, Li Ziqi YouTube account and other important monetization accounts are Hangzhou Weinian completed registration in the name of the company after signing the contract, and Li Jiajia is not directly related, Hangzhou Weinian has the right to refuse Li Jiajia to log in to the relevant account in law. It can be seen that with the existing corporate governance structure, Li Jiajia is quite weak in the game with Hangzhou Weinian.