China Fund News Amman
Following Li Ziqi's lawsuit against the signing company Wei Nian, things have changed again.
On the 27th, a number of media reported that due to the dispute between Li Ziqi and the contracted company Weinian, ByteDance, the shareholder of Weinian, has started the withdrawal process on October 16.
In this regard, the relevant person in charge of ByteDance responded to the China Fund News that the news is true.
36Kr news quoted a person close to the transaction as saying that ByteDance initially invested in micro-ideas, mainly because it was optimistic about Li Ziqi. Now that Li Ziqi and Wei Nian are at odds, ByteDance has decided to exit Wei Nian according to the investment agreement.
Li Ziqi Company sued Wei Nian
Trigger a national debate
On the 26th, the topic of #Li Ziqi Company suing Wei Nian # triggered a big discussion on the whole network. To date, the topic has been read 230 million times and 26,000 comments.
According to the Tianyancha APP, on October 25, Sichuan Ziqi Culture Communication Co., Ltd. (hereinafter referred to as "Ziqi Culture") and Liu Tongming and MCN agency Hangzhou Weinian Brand Management Co., Ltd. (hereinafter referred to as "Hangzhou Weinian") added new case filing information, the plaintiff in the first instance was Ziqi Culture, the defendant was Hangzhou Weinian and Liu Tongming. The Economic Measures Court is the Intermediate People's Court of Mianyang City, Sichuan Province.
Shareholder information shows that Sichuan Ziqi Cultural Communication Co., Ltd. is held by Hangzhou Weian Brand Management Co., Ltd. and Li Jiajia (Li Ziqi) 51% and 49% respectively.
Snail lion powder sold 100 million
Li Ziqi could not get a share of the money
Although Li Ziqi holds 49% of the shares in Ziqi culture, the actual controller is Liu Tongming, the legal representative of Weinian Technology. This means that to a certain extent, the decision-making of Ziqi culture is subject to the major shareholders and the actual controllers behind them.
But in Hangzhou Wei nian, Li Ziqi did not hold shares. This laid the groundwork for what happened later.
As we all know, Li Ziqi's videos are almost non-advertising, except for shooting the "promotional videos" of the brand's online store products.
As of October 27, li ziqi's flagship store had 6.41 million fans. In addition to the explosive snail powder that more than 2.55 million people have commented on, a variety of products such as osmanthus nut lotus powder and purple potato steamed rice cake are also selling.
According to the calculation of 39.9 yuan of snail powder, if 2.556 million reviews have been purchased once, Li Ziqi's flagship store alone sold 100 million yuan of snail powder. You can imagine how profitable this online store is.
When further understanding the basic information of the online store, the fund Jun found that the enterprise qualification of the store was Hangzhou Wei Nian. That is to say, no matter how profitable the Li Ziqi online store is, Li Ziqi cannot get any money from it.
ByteDance investment
The valuation of Hangzhou MicroNian is nearly 5 billion
In addition to Li Ziqi not being able to get a piece of the online store she endorses, most importantly, she cannot benefit from the rapid development of Hangzhou Weinian.
Tianyan check shows that since the start of cooperation with Li Ziqi in 2016, Hangzhou Weinian has almost maintained the rhythm of one financing per year.
In July this year, a strategic financing was made, and ByteDance held 1.48% of the shares. Before Byte entered the shares, Weinian also successively received investment from Huaying Capital, Chenhai Capital, Sina Weibo, Mango Cultural Creation, and Zhongyuan Capital.
According to reports, after ByteDance invested in Hangzhou Weinian, the valuation of Hangzhou Weinian has reached 5 billion. But all this has nothing to do with Li Ziqi.
Well-known Internet bloggers broke the news that ByteDance had invested in Weinian at the beginning of the year because of his optimism about Li Ziqi's ability to help farmers and the influence of the whole network, so that the valuation of Weinian reached 5 billion, but what Byte did not expect was that Li Ziqi actually held zero shares, and Liu Tongming, the founder of Weinian, had 19.45% of the shares (about 1 billion), but did not hold a little share for Li Ziqi, this unhealthy equity structure is absolutely unsustainable in the eyes of investors.
ByteDance did some in-depth investigation and found that Li Ziqi's relationship with Wei Nian had broken down, and finally started the withdrawal process on October 16.
People in the industry all lamented that this was Liu Tongming's pattern problem, thinking that he was Bole, but did not advance and retreat with Maxima, only as a vehicle that gave him a ride.
It is understood that this is not the first time that ByteDance has invested in MCN.
At the beginning of 2020, ByteDance invested 180 million yuan exclusively in the B round of financing of Taiyang Chuanhe, holding 8.85% of the shares, and the two sides launched a comprehensive strategic cooperation.
Taiyang Chuanhe was formerly known as Angelababy Studio, it is understood that Zhang Yiming is interested in the papitube established by Yang Ming and the Internet celebrity papi sauce, as well as its MCN.
Diving again! 30 billion A-share vice president: "Next year's market value is not 50 billion to cut the belly and apologize"! The fund manager revealed the "stock speculation cheats": watch the news network! Online real estate tax collection plan, Shenzhen debunked rumors!