In the same year, Focus Media, a subsidiary of Jiang Nanchun, was listed on NASDAQ in the United States, which set an IPO record at that time with a financing amount of $654.38+72 billion, becoming the first advertising media enterprise in China to be listed overseas.
Focus Media has set an example for the budding China capital market, and Jiang Nanchun, who became rich overnight, has suddenly become the idol of countless entrepreneurs.
Later, Douban, Market Fair, 58 City, PPTV, Potato and Qihoo 360, which were familiar to netizens, all appeared in this year.
China's capital market has also started to grow this year, with several new entrants: Xin Xu founded Today Capital, and Shen Nanpeng, who left Ctrip, founded Sequoia Capital.
Capital has groups and solos.
At this time, people began to hear a new term: angel investor.
Lei Jun hasn't established Xiaomi yet, but he invested 65,438+0,000 USD in Li Xueling, the founder of YY Voice, which is a big family.
Cai Wensheng, a Fujian native, invested 500,000 yuan and 6,543.8+0.8 million yuan respectively in 58 Tongcheng and Storm Video, and both made a lot of money later.
These days, smart phones have not been popularized, and people's greatest entertainment is to send and receive multimedia messages through the Internet access function of mobile phone WAP, and look at poor-quality mobile phone pictures.
At this time, a network named Beijing Kaiwei has accumulated a database of nearly 70 million WAP users, and can send more than120,000 short messages to users every day, accounting for 90% of WAP users in China.
Although the content of WAP is poor, for most users, chatting is better than nothing, and it is not bad to watch it every day as a pastime.
If users subscribe, there will naturally be advertisements pushed. Kaiwei, which runs WAP business, makes a lot of money by short message advertising every year.
In 2006, seeing that Kaiwei Diangao had such a strong strength in SMS advertising, Jiang Nanchun, who was not short of money, negotiated with Xu Maodong, the boss behind the scenes, and bought Beijing Kaiwei Diangao Network Technology Co., Ltd. for $30 million.
After the acquisition, Xu Maodong suddenly became an executive under Jiang Nanchun.
Not long after, Xu Maodong, who was used to going it alone, resigned and left voluntarily because he couldn't adapt to the life of a sponsor.
It doesn't matter that Focus Media lacks an executive.
But since then, there has been another capital crocodile in the rivers and lakes.
Because the company was acquired, Xu Maodong tasted the sweetness of the capital market and realized that it would be a very attractive concept to combine the Internet model with the traditional project investment.
At this time, the Internet tide in China has just begun. Investors in traditional industries are both curious and unfamiliar with the Internet, and they urgently need someone who knows both traditional industries and the Internet to lead the way.
Xu Maodong, who has both practical experience and money, seized the opportunity to act as an "angel investor".
In 2007, Xu Maodong, Gui Bintao and Ma Liqun founded Xiaoneng Technology, a consulting company specializing in Internet investment and joint venture.
Xu Maodong, regardless of management, is only responsible for money, while others are responsible for capital contribution.
Xiao Neng participated in the incubation and investment of many early Internet entrepreneurial projects in China, and Xu Maodong also made a lot of money from it.
But all this money is "small change" in Xu Maodong's eyes. By testing the water, he stared at the unfamiliar Internet and e-commerce operation market.
For Xu Maodong, who is good at marketing, it is never difficult to make money. It's just another way to play.
And his ability to make money has been demonstrated since he was still in the system.
Xu Maodong was born in Rizhao, Shandong.
There are only a handful of early information about Xu Maodong that can be found on the Internet, except that he has achieved good results since he was a child.
1986, Xu Maodong, 18 years old, admitted to the computer application and automation department of Wuhan University of Technology.
Wuhan University of Technology is the later 2 1 1 university, and the computer major is also one of the earliest popular majors.
However, Xu Maodong's love for this major is obviously not as good as his interest in business management. During his study, he spent a lot of time on elective business management courses.
Determined to become an entrepreneur, Xu Maodong read all the biographies of international entrepreneurs in his spare time.
This is also normal. At this time, students who study computer basically go to scientific research institutions without oil, water and status after graduation.
In the years of reform and opening up, everyone wanted to do business to make money. "It is better to build an atomic bomb than to sell tea eggs" is a true portrayal of this period.
Unfortunately, Xu Maodong, who studied so many business administration courses, entered the system after graduation and worked in the port authority in his hometown.
In this state-owned enterprise, everyone knows that as long as you don't make any big mistakes, you can muddle along for a lifetime.
Xu Maodong only felt wronged in his heart, thinking that it would be abolished sooner or later.
Really want to resign, Xu Maodong dare not, he can only silently wait for the opportunity.
199 1 Rizhao port authority set up a shopping center to engage in internal management competition.
People who are used to the system don't want to compete for jobs at all, which gives Xu Maodong a chance.
With a degree from a key university and a burly appearance, Xu Maodong successfully passed the internal selection and joined the management of the shopping center.
In just three years, from ordinary employees to managers, Xu Maodong clearly understood the retail industry with strong interest and accumulated a large number of contacts.
Xu Maodong is very serious, but his colleagues are tired of their work.
Whether there are clients or not, they get off work at 6 o'clock, call it a day at 5: 30, and are anxious to get home from work. Anyway, it is a public company, and its turnover has nothing to do with itself.
After several years of operation, the port authority wants to earn some benefits from the shopping center and has to invest money every year.
1994, watching the shopping center half dead, the port authority learned to start the contract responsibility system in desperation.
Xu Maodong did not hesitate to contract out the shopping center and renamed it Qilu Supermarket.
In the final analysis, the problem of shopping center is caused by egalitarianism of "big pot". Xu Maodong, who knew this well, made drastic internal contracting reform after he took office.
First of all, he directly linked the performance and salary of employees, which effectively promoted the enthusiasm of employees.
Then, he adjusted the business hours of the supermarket to 9 am to 9 pm, and then he didn't rush customers.
Because Qilu supermarket is located in a residential area, most of the people who come to shop are aunts and uncles. Xu Maodong also deliberately sold the eggs, salt and shallots in the store at the cost price, which brought a steady stream of popularity through the greedy old man.
This is the modern business marketing thinking, which brings people flow through high-frequency and low-priced products, and it is actually a routine to use traffic to make single product explosions in the later stage.
After several years of development, Qilu Supermarket's turnover has soared from one store to nearly 20 stores, and even Du Dong Commercial Building, a famous state-owned enterprise in Rizhao City, has been acquired by Qilu Supermarket.
In order to improve management efficiency, Xu Maodong also set up an IT department within the enterprise through his own professional background, and used computers to write off the business of supermarkets. In his spare time, he could help the Port Authority to do some network projects to earn some money.
Qilu Supermarket helped Xu Maodong earn his first bucket of gold, but he was exhausted from his busy work and felt that all he earned was hard money.
Xu Maodong is thinking, is there a kind of "lying down to make money" business that is neither hard nor profitable?
1998, people in China are still sending and receiving voice and text messages through the BP machine, and the streets and alleys are full of crickets.
In order to facilitate business, Xu Maodong bought the latest Motorola mobile phone. Because he is in the supermarket business, he receives all kinds of junk sales messages every day, and basically deletes them without reading them.
At a dinner party, he happened to spit out too many spam messages with his friends.
The other party inadvertently mentioned a sentence. Although these short messages are inconspicuous, they cost 1 20 cents each. There are so many mobile phone users in China, if anyone can control the transmission channel, it is a huge number.
The speaker has no intention, but the listener has a heart.
Xu Maodong shines at the moment: Yes, mass texting is just a software problem. There are already tens of millions of mobile phone users in China, and there will only be more and more in the future. I study computer myself. If I start this project, isn't it the "lying and earning" project I've always wanted?
Xu Maodong, who has just started, is busy with the supermarket business, while incubating software that can develop mass short messages in his IT department.
Doing projects for yourself, the efficiency is definitely different.
In 2000, Xu Maodong had mastered several mature SMS promotion software.
After careful investigation, he withdrew from the contract of Qilu Supermarket and registered and established Beijing Kaiwei Diandiantong Network Technology Co., Ltd. in Beijing with the cash he got.
Xu Maodong's second venture once again shows his shrewdness. He has turned from focusing on assets to focusing on assets, which is more favored by capital.
At this time, he obviously didn't know much about this, only thought it was faster and easier to make money this way.
At this time, the domestic paging market of BP machine is still hot. Xu Maodong cooperates with telecom companies and paging stations in 23 provinces in China with its own group SMS technology, and the project is aimed at corporate customers.
In 200 1 year, mobile phones began to spread all over the country, and SMS became a new way for people to exchange information, and the BP machine that completed its historical mission gradually withdrew from the market.
In recent years, with the development of WAP technology, MMS technology began to appear, and boring short messages added a lot of illustrated content.
With the development of the times, Kaiwei's notice has gradually penetrated from corporate customers to ordinary users' market through rich WAP information.
The huge number of users has brought amazing wealth to Kaiwei, with an annual turnover of more than 6 million yuan at its peak.
Therefore, after listing, Focus Media acquired Kaiwei Point in Xu Maodong and reorganized into Focus Wireless Division.
Strangely, when Xu Maodong left, Focus Media not only didn't sign any non-competition agreement with him, but made him turn around and buy the same business form as Kaiwei, and even transferred one of its subsidiaries (Yitong) to Percent Communication.
Whether there is something fishy about this is unknown, but what is certain is that Xu Maodong has already smelled the attractive taste of the capital market at this time.
Co-founding Xiaoneng Technology is a test of Xu Maodong Internet cross-border capital market, and he has quietly become a behind-the-scenes investor of Internet startups.
In 2009, Xu Maodong established Xinghe Internet, which was his third venture from traditional industry to Internet field.
Because he is optimistic about the opportunities and prospects of upgrading domestic traditional industries, he actively participates in various Internet entrepreneurial projects as an angel investor.
This year, with the appearance of the concept of group buying abroad, the Meituan, symbolized by the group buying website in Gao Peng, USA, was established, which also set off a hot group buying trend in China.
Xu Maodong hasn't set his eyes on group buying yet, and his Galaxy Internet is still looking for good Internet projects everywhere.
Every time he discovers a good internet project, he will incubate and set up a startup company. As an investor and housekeeper, Xinghe Internet helps the new company solve problems such as capital, technology and business strategy.
After the establishment of Xinghe Internet, it has successively invested in hundreds of startup companies including Xiaoneng Technology, Yunzong, Microgrid, Agras, and Golden Treasurer, covering 16 different industrial fields, with a huge momentum.
Xinghe Internet also set up Xinghe Space in the mode of Internet plus real estate, and provided it to entrepreneurs in the form of crowdsourcing service, which is regarded as the earliest practitioner of "* * * enjoying space" in China.
However, Xu Maodong is most keen on overseas listing.
During this period, Internet companies in China listed on NASDAQ one after another, and the founders were in high spirits when they rang the bell, which made Xu Maodong unconvinced and greedy.
In 20 10, domestic group buying websites suddenly merged violently.
Because of the help of capital, the group purchase that desperately burns money subsidies has also become the most enthusiastic consumption mode of netizens.
More than 5,000 group buying companies have sprung up like mushrooms after rain, and the war has gradually evolved from "Hundred Regiments War" to "Thousand Regiments War".
This year, 42-year-old Xu Maodong returned to Jinan from Beijing and invited a large group of Shandong journalists to dinner.
He proudly said at the dinner: "Internet companies all over the country, as far as our Wo Wo Group is concerned, are all Shandong accents." Let the Shandong reporters present feel quite touched.
This just know Xu Maodong bought the hometown of Wang Yunming's "Wowotuan".
Wang Yunming is from Yantai, Shandong. When he was studying for an MBA in Tsinghua, he heard about Gao Peng's business model after 12 hours. He immediately founded the Wo Wo Group with his good friend Liu Chuanjun.
Having no money, they contacted Xu Maodong through their fellow villagers.
Xu Maodong also happens to want to invest in a group buying company and hit it off with each other.
After a period of cooperation, Xu Maodong felt that the development of Wowotuan was too slow, and he was ready to do it himself.
I don't know what Xu Maodong and Wang Yunming talked about. Anyway, after the completion of the acquisition, Wang Yunming directly took the money and left, giving Wo Wo Group to Xu Maodong.
Since then, Wo Wo Group has started a crazy expansion mode, constantly acquiring other group buying companies, while poaching people from rival companies, and storms have broken out one after another.
In the worst case, Wo Wo Group poached more than 200 employees from Handan.com at one time, and Handan.com founder Wu Bo was so angry that he wanted to find Xu Maodong "one-on-one".
Wo Wo Group seems to attack the city and plunder the land in the first-tier cities, which is unstoppable, but its financing and strategy are far less than that of the slow and steady US Mission.
Not surprisingly, one is just taking advantage of the situation to go public, and the other is to do the project honestly.
Xu Maodong at this time while burning money, while also making money.
20 13 Igras, a mobile game company he invested in four years ago, was sold to the listed company Julong Pipe Industry at a valuation of 3 billion, and received hundreds of returns.
But for Xu Maodong, the money is still not worth it. He hopes that Wo Wo Group can be listed on NASDAQ and make a lot of money.
20 15, 1, the Wo Wo group in "Sea of Blood" finally went public on NASDAQ, but only raised 40 million dollars.
Compared with the $50 million financing in Series A, the cruel reality gave Xu Maodong a "sap" full of hope.
This is the peak moment of the group and the last glory.
As Meituan and other websites gain a firm foothold in the field of community e-commerce services, the "hot money" behind the group buying war gradually fades away, and the Wo Wo Group disappears.
Although Xu Maodong got the "admission ticket" to the capital market, he was annoyed to find that it was an "expired admission ticket" and he was no longer so keen on overseas listing.
Fortunately, he has found out the doorway of the capital market, turned his attention to the domestic A-share market and launched a new round of "wonderful" performances.
20 16 with the equity changes of A-share listed companies Busen and Tianma, it was found that the Galaxy World in Xu Maodong actually controlled hundreds of enterprises and formed a brilliant "Galaxy".
In August this year, Xu Maodong first acquired a 29% stake in Busen through its subsidiaries Xinghe Win and Lhasa Xingzhuo for 654.38+0 billion yuan and became its controlling shareholder.
On June+10, 5438, Xu Maodong acquired 29.97% equity of Tianma through Kashgar Xinghe for 2.937 billion yuan and became its controlling shareholder.
In fact, at that time, Xu Maodong didn't have so much cash to buy. He bought the equity through external financing, and then easily got the equity of two A-share companies by way of equity pledge to repay the financing.
For example, the acquisition of Tianma shares is 2.937 billion yuan, of which10.387 billion yuan is the short-term financing of Kashgar Xinghe as equity pledge to Hengtian Fortune.
There is still 65.438+55 million yuan. First, Kashi Xinghe made a loan to the trust company and paid it to Tianma Venture, the major shareholder of Tianma, and then Tianma Venture pledged the loan to the trust company as a guarantee for Kashi Xinghe's loan.
In the capital market, this is a typical routine of first raising funds to buy shares of listed companies, then pledging financing, and finally cashing out at a high price, which is not unusual.
It's just that Xu Maodong skillfully used capital leverage to play a more skillful "empty gloves and white wolves" trick, and this set of equity pledge routines immediately became his tried and tested weapon in the capital market.
Confused by Xu Maodong's boasted business prospects, all the participating enterprises fell into the pit unconsciously, but didn't realize it.
I can't help it. Xu Maodong's "Galaxy System" is so brilliant that everyone thinks he can make money with it. Even if I knew there was a huge pit ahead, I would jump with my eyes closed.
In 20 16, Xu Maodong was selected into Forbes rich list with 7 1 100 million yuan, with numerous dazzling titles and titles.
Listed companies are confused by Xu Maodong's flashy concept and gorgeous aura, but they are still in a dizzy state.
Because of this, Busen, originally a traditional clothing industry, was transformed into a financial technology company by Xu Maodong, and Tianma, originally a bearing manufacturing industry, was transformed into a cloud computing big data company.
This is another capital concept game played by Xu Maodong. I want to make a fortune when the concepts of Internet finance and big data are hot.
Now that the "cannon fodder" is ready, the rest is to "harvest" in time.
At the beginning of 20 17, Founder Securities signed a two-year pledged repo business with the target of 200 million yuan with the controlling shareholder of Tianma, Kashi Xinghe.
In September, Tianma shares secured a loan of 50 million yuan from Jinfeng Pawn with shares, and then transferred it to Xu Maodong's Shi Letao account; Then, Tianma shares borrowed 70 million yuan from the micro-loan company, and the money again entered the account controlled by Xu Maodong.
On June 5438+ 10, Tianma shares borrowed 654.38+billion yuan from Deqing County SME Financial Service Center again, but the loan guarantee was Busen shares, and the money still did not enter Tianma's account, but entered the account controlled by Xu Maodong.
In addition to borrowing many times, even more than 500 million cash on Tianma's books was transferred away by Xu Maodong, and Tianma, once a "strong" stock, was squeezed into a "thin horse".
While controlling Tianma shares, Xu Maodong quietly sold Busen shares and transferred its 16% shares to Chongqing Anjian Technology at the price of10.66 million.
Through a series of "fund transfer methods" such as non-operating occupation, guarantee and related acquisition, Xu Maodong took at least 3 billion cash from the two companies.
What is terrible is that the two companies involved have no knowledge of the "thunder" buried by Xu Maodong.
Xu Maodong thinks there is nothing wrong with his operation. He also wants to realize his "ambition" of building an intelligent business service platform through Tianma and continue to make more money.
However, if you mix it up, you will have to pay it back sooner or later.
At the beginning of 20 17 12, Tianma's share price closed at 9.95438+0 yuan, which fell below the warning line.
This made Founder Securities, which had a pledge agreement with Tianma before, realize that something was wrong. Because the pledged shares have already faced the risk of liquidation, Founder Securities quickly issued a notice to Tianma to cover the position.
In this regard, Tianma shares never responded.
12 18, Tianma shares collapsed, and Xu Maodong urgently applied for suspension of trading for nearly half a year in the name of internal restructuring. However, it was still noticed by the CSRC, and since then, it has put on the hat of ST.
On the same day, Busen shares also collapsed all the way, making the actual controller Zhao want to cry.
It can be said that if it weren't for these two flash crashes, Xu Maodong would still rely on his "Galaxy System" to continue arbitrage in the capital market.
2065438+At the end of April 2008, Xu Maodong was investigated by the Securities and Futures Commission for allegedly breaking the law and resigned from all his posts in Tianma, but to no avail.
On May 4th, 65438+, the share price of ST Tianma fell from 9 yuan to 1.8 yuan. In less than a month, tens of thousands of investors' 7.8 billion yuan went up in smoke, losing all their money.
Investigation by relevant departments found that Xu Maodong not only carried out arbitrage crazily, but also invested some funds into a P2P platform named "Qian Man Cang" without the knowledge of the board of directors of Busen and Tianma.
Qian Man Cang is a well-known P2P platform listed in China on 20 17, and the actual controller behind it has never been known.
It was not until 2065438+June 2008 that Qian Man Cang "Thunder" ran away, leaving more than 200 million bad debts. It was discovered that the shareholders behind him were holding companies such as Xinghe World and Tianma Shares in Xu Maodong.
The investigation also found that more than 70 million yuan in the money account had already been transferred to the new account.
It turns out that Xu Maodong, who specializes in cutting leeks of listed companies, has not given up cutting leeks of ordinary people.
20 19, 10, 3 1, the CSRC fined Xu Maodong 900,000 yuan.
It's a pity that so little money didn't punish Xu Maodong.
As soon as he saw that the wind was wrong, he fled to America with the money.
Billions of cash of several companies have been plundered by Xu Maodong, and companies such as Tianma and Busen have to continue to bear the responsibility.
The once brilliant "Galaxy System" also fell apart because of Xu Maodong's escape and became worthless gravel.
In this way, Xu Maodong, 5 1 year-old, walked away, leaving the capital market in a pool of muddy water.
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