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YY went public and was relatively successful, and everyone on Nasdaq was very happy.

This atmosphere is precisely the key to Nasdaq's success.

You know, IPO is to draw blood from the stock market.

Nasdaq is the American stock market. Normally speaking, the "blood" here should belong to American companies. It should be a financing platform for local companies, allowing them to obtain funds by "drawing blood" from the stock market, and then develop rapidly.

Nasdaq did not adopt this closed-door mentality. It was mainly because of this openness that it was able to grow from a small exchange to the world's largest stock exchange in just two decades.

The "blood" of Nasdaq does not belong to the United States, but to the whole world.

As long as they meet the conditions, all companies around the world can come here to list and raise funds.

The long-term sluggishness of A-shares is also related to this closed restriction.

Only domestic companies can apply.

High-quality foreign companies are not allowed to be listed on A-shares, and domestic blood only supports domestic companies. Investors can only pick the big one among the poor, and they will pick the wrong one with a bad look.

Although YY is only a "small company" with a market value of US$1.6 billion, it is gratifying enough for Nasdaq.

The level of excitement is no worse than when Ziweixing Digital Media was listed on the London Stock Exchange last month.

Li Xueling, the big boss of YY, became the focus of the audience.

This feeling is so proud.

However, he didn't dare to show off in front of Zhou Buqi. When he saw Boss Zhou coming over, he quickly said humbly: "Mr. Zhou, the gap between YY's market value and your expectations is a bit big."

Zhou Buqi smiled and said, "There's no rush, we can develop slowly."

Li Xueling asked: "I read the news... it said that you are discussing cooperation with Microsoft. It may be a big deal with a total capital of US$5 billion?"

This does not need to be kept secret. It will be officially announced in a few days. Zhou Buqi said very honestly: "Not that much. The transaction volume is 4.25 billion US dollars. Most of the UC Group's business was sold to Microsoft."

Li Xueling took a deep breath.

It's quite embarrassing.

No wonder Ziweixing is unwilling to take YY under its account, but allows it to develop independently outside... Boss Zhou has a high vision, and he looks down on such a small business.

He doesn't even look down on UC, let alone YY?

This is really a misunderstanding.

Although the value of UC Group is higher now, in Zhou Buqi's eyes, it is obvious that YY is more important and has more long-term value and strategic value. He asked: "What is the core business of YY now? Or is it relying on magic modification Helo?" Live voice broadcast?”

Li Xueling nodded, "Yes, this has become the core business. However, after the listing, we plan to increase investment, and then we will focus on the field of video live broadcast."

Zhou Buqi was a little worried, "Is the current Internet speed enough?"

Li Xueling said: "The mobile network is definitely not enough. It is mainly for computers, supported by home broadband networks... The live broadcast resolution can be set lower to develop this business."

"You have to be mentally prepared. This is a long-term plan."

Zhou Buqi warned him.

Video live broadcast is a big pitfall... This is different from voice live broadcast. Voice live broadcast only has sound but no picture, the data content is smaller, and the cost of infrastructure is relatively limited.

Live video is different.

Internet and electricity bills alone cost hundreds of millions every year.

This is actually the same as streaming media.

It is a purely money-burning industry. It is almost impossible to make money from pure live broadcasting. Only live streaming e-commerce can save the live streaming industry.

In overseas markets, the streaming media industry is developing well. However, the live broadcast industry cannot develop. Without the hard-core monetization model of live broadcast e-commerce, it is really difficult to support such a large platform just by relying on the gifts from live broadcast rewards.

Li Xueling said with a smile: "In the initial stage, we will focus on singing and gaming, to test the waters first. There are now 270 million registered users on the YY platform, and more than 20 million daily active users. We are trying to introduce more advertising business."

Zhou Buqi asked: "Advertising income, gift income, what else?"

"there is none left……"

Li Xueling's eyes were full of asking for advice.

Zhou Buqi said seriously: "Due to the limitation of network speed in China, the live broadcast industry has not developed. Europe, America, Korea and Japan have been developing for many years. Many models have been tried, but they have not been very successful."

Li Xueling nodded, "Well, the infrastructure cost is too high. But now that equipment costs have dropped and Internet fees have dropped, I think the opportunity has come. It's similar to the streaming media industry."

Zhou Buqi thought about it for a moment, then said bluntly: "There are no successful live broadcast platforms abroad, but..."

Seeing his complicated expression, Li Xueling reacted immediately and said quickly: "Oh, I know, it's for adults..."

Zhou Buqi said: "The content is not desirable, but the business model can still be used for reference. Those adult live broadcast platforms, in addition to advertising revenue and gift sharing revenue, also have revenue from paid channels."

Even some exciting and popular channels that are very popular among viewers will be paid.

Fans have to spend money to purchase memberships before they can go in and watch.

In this way, even if there are only 1,000 members... each member's monthly membership fee is US$10, there is still US$10,000 in revenue.

There are many high-quality female anchors with tens of thousands of members.

For many beautiful college students, it is simply the best part-time job.

There is no way, capital countries are too evil, and tuition fees in private universities are too expensive. Since their parents do not pay for tuition, students have no choice but to work-study and take out loans to complete their studies.

Li Xueling has obviously done some research on this. He mused: "Exploring payment... This may be difficult. Domestic Youku and iQiyi cannot afford to open memberships. Moreover, there seems to be some problems with payment and advertising. Differences in models. For now, relying on traffic to sell ads seems to be a better choice.”

Zhou Buqi smiled and said: "You're right. It's difficult even abroad, let alone China. The paid channels for live broadcast are either live events or adult live broadcasts. Others are really not good. However, there is another If you want to create a new model, you might as well think about it.”

"What mode?"

"Some time ago, I talked with an adult website owner, who is a client of Ziweiyun. I gave him some advice on the design of the business model. He can sell some personal items of popular anchors, such as worn underwear. pants, used props, or personal photos, customized collector’s edition DVDs, etc.”

"I'm afraid..."

Li Xueling immediately saw the operational difficulty here.

This is e-commerce!

Once the business expands, the investment will be even greater. And even if Ziweiyun can provide one-stop e-commerce cloud services, this model does not seem to be in line with the current status quo.

The sale of this kind of derivatives will be very effective for adult live broadcasts and event live broadcasts, because they are the most loyal viewers.

How can an ordinary live broadcast have any loyal viewers?

They all looked left and right with a curious mind.

Zhou Buqi said with a smile: "This is just an idea. Take your time. The live broadcast industry still has a long way to go to develop. It is even more difficult than streaming media."

"What about the short term?"

Li Xueling will not give up this market easily.

For now, YY is the leading player in the domestic live streaming industry. Now it is listed again and has raised US$150 million. With such a large amount of money, we must further expand the market and dominate the live broadcast industry.

Zhou Buqi said: "In the short term, the game will be broadcast live. Your idea is very good. But I want to remind you that the game is copyrighted."

"ah?"

Li Xueling was slightly startled.

Zhou Buqi said: "When a host sings someone else's song, this is a profit-seeking act. Logically, the copyright fee for the song should be paid. The same goes for games. If you want to live broadcast "DOTA2", you'd better reach a cooperation with Changyou in advance and get approval. . Changyou also said that other game companies must be vigilant. Don’t work hard to build other people’s game market by relying on live broadcasts, and they will turn around and sue you.”

This is an important meaning of live broadcast-the promotion of games.

When a streamer plays "DOTA2", it is equivalent to promoting "DOTA2". If the anchor has a great time, players will also come in to try it out, and this demonstration effect will arise.

This is a soft advertisement for the game.

The marketing effect will be better than hard advertising.

This is why Zhou Buqi took the time to talk to Li Xueling and encourage him to stick to the live broadcast business.

This is in line with Changyou's strategy.