Author: Stephen’s old dream
Everything is settled.
Tiktok with byte hopping may have only 48 hours left.
This soap opera, which took place around tiktok, byte skipping, the U.S. government, Microsoft, Zhang Yiming, and trump, may be coming to an end.
According to CNBC, tiktok will find a home for tiktok within 48 hours between Microsoft Wal Mart and Oracle. It is reported that Oracle’s offer is $20 billion in cash and 10 billion in shares.
But tiktok has no time to consider the ultimate ownership of the company. Kevin Mayer, tiktok’s Global CEO, announced his resignation yesterday, after only three months in office. The departure of the commander-in-chief has a great impact on the morale of the company.
Shortly after Mayer announced his resignation, tiktok convened thousands of European and American employees to hold a virtual full staff meeting to ensure that the company will continue to employ them in the future and will confirm the company’s future development as soon as possible. Employees anonymously asked interim CEO Vanessa Pappas, general counsel Erich Andersen, and vice president of global business solutions, Blake Chandlee.
The most frequently asked question is whether the company will pay on time.
On the other side of the ocean, the key players in this drama decided to sue the U.S. government three days ago and took the attitude of killing the dead.
Now everything about tiktok seems to be settled.
(source: Official wechat of the company)
If the media news is true, Zhang Yiming’s byte jitter is about to lose tiktok in 48 hours. This should be the biggest accident encountered by the company on its way out of the sea. He may not have thought that tiktok would lose its largest U.S. market in 2020.
Looking back on Zhang Yiming’s public relations operations in response to the tiktok crisis in the past month, we can infer from the current results that there are many improper points. Only to his surprise, Zhang Yiming’s dream of going out to sea was shattered.
Byte bounce, born to be global
In 2012, Zhang Yiming founded byte skipping. The first office is in Zhichun Road Jinqiu home in a residential. At that time, the company’s R & D, financial and design offices were in different bedrooms, and the conference room was only five square meters. At the annual meeting, a group of people called eight Haidilao, but they were afraid of tripping and could only open four pots.
In the same year, they got their first financing in a cafe near the neighborhood. The investor is an American entrepreneur traveling to Beijing. He thinks that Zhang Yiming’s apartment team technology has been in line with Silicon Valley.
Also in 2012, Zhang Yiming’s apartment team working in Jinqiu home began to discuss the issue of internationalization. In fact, at that time, very few people in the start-up team had ever been out of China. Later, they named the company byte jump, and at the same time, they also thought of the English name of the company – bytedance.
In August of that year, the team launched the first popular product – today’s headlines. Three years later, today’s headlines with byte skipping started the layout of globalization. At that time, there was no Chinese Internet platform enterprise going overseas.
But Zhang Yiming thinks this is a trend. At the dialogue held by Tsinghua University of economics and management in 2018, he thought that both Chinese companies and American companies were “born to be global” on the global competition track of the Internet. Only by doing global allocation can we achieve scale benefits in the global market.
In short, the number of Internet users in overseas markets is five times that in China. Byte jitter has no reason not to develop the market well. At that time, he put forward a goal to increase the proportion of overseas users of today’s headlines (that is, later byte skipping) from 10% to 50% within three years.
The globalization of the company was more successful than he thought. One of the big reasons is the introduction of the popular application tiktok. In November 2017, byte beat acquired us short video application Musical.ly And integrate it into tiktok’s overseas version TikTok. Since then, tiktok has become the pioneer of byte skipping to sea.
By the end of last year, the number of monthly active users of byte hop’s products exceeded 1.5 billion, and the number of daily active users exceeded 700 million. Its business covered 150 countries and regions and 75 languages. Among them, tiktok has a monthly life of 507 million. Byte beat has offices in more than 180 cities in 30 countries around the world, with more than 60000 employees.
Byte hopping is closer and closer to Zhang Yiming’s goal that half of users will come from overseas global companies by 2020.
Public opinion defected
After entering 2020, the global road of byte beating will not be as smooth as that of previous years.
What really makes byte jump overseas business into a passive position is the company’s two improper public relations operations since July. Now, because of these two public relations mistakes, byte skipping has not only lost the reputation of most netizens in China, but also lost the initiative to negotiate with American enterprises.
In an interview on July 31, trump verbally warned that he would take action the next day to ban tiktok in the United States. Shortly after the news came out (it was said to be five hours), byte beat agreed to negotiate with Microsoft about the transfer of tiktok’s U.S. business.
A large number of netizens accused Zhang Yiming of being too soft, and compared Huawei and ZTE, calling byte skipping behavior “kneeling in seconds” of the US government.
There have also been comments on the Internet that resist the use of headlines.
On August 4, Zhang Yiming issued an internal letter calling on internal employees to focus on the overall situation and to view different public opinion positions from the Mars perspective. However, the internal letter has made the already fragmented byte beat and the mainstream public opinion even more separate. “Mars perspective” is said to have lost the position of Chinese companies, which has widened the distance between the company and Chinese people, and made byte beat gradually away from the mainstream public opinion.
Zhang Yiming himself was also referred to as a “delicate element”.
At the beginning of July, China also called byte skipping and Huawei the same brother and brother to be punished by the United States. In August, after Zhang Yiming responded twice, the domestic public opinion quickly reversed, and the byte leaped into the target of public criticism, and the inside and outside were no one.
It was at that time that Zhang Yiming emptied his microblog, and the byte hopped for a long time, and never responded to outside takeover rumors – until he sued the U.S. government this week.
Now, Zhang Yiming’s two responses at the beginning of the month, no matter right or wrong, are lost from the perspective of interests.
First of all, he misjudged the mainstream public opinion in China, agreed too quickly to negotiate with Microsoft to sell the U.S. business, and used words that didn’t conform to the mainstream meaning in the open letter, which made byte skipping stand opposite to the mainstream domestic people. In the future, this opposition may reverse byte business in China.
In fact, referring to the cases of Huawei and ZTE, most Chinese people should have psychological expectations about the outcome of tiktok in the U.S. market. The wrong thing is that the byte jumps into the negotiation process too quickly, which exceeds the expectation of overseas people.
Secondly, Zhang Yiming’s byte beat too early to reveal the bottom card, indicating that he is willing to sell part of tiktok business stop loss position, which gives the U.S. government and U.S. enterprises the space to advance after being appropriate.
After trump issued two presidential executive orders, tiktok’s offer for acquisition also dropped from the earliest US $50 billion (global overseas market) to US $20 billion (US, Canada, Australia, and New Zealand), largely because we know that byte hopping has no other successors except selling business.
Now, according to the latest statement, tiktok has asked bidders for $30 billion to buy its U.S. business. But now tiktok is fragmented, and the volume of bargaining at the table is a little weak.
According to the media disclosure, Zhang Yiming himself has been opposed to the sale of the introduction of strategic investors for tiktok business and the sale of the controlling equity of tiktok in the United States. However, overseas capital shareholders with byte beating, such as SIG, Tiger Fund, GA (Pan Atlantic capital) and Sequoia Capital, all have veto power. In addition, byte creditors have a similar veto.
The choice of byte skipping can not completely represent Zhang Yiming’s personal will. But even so, the two public relations responses at the beginning of the month still have many mistakes.
To mend the mend is counterproductive
On Tuesday, byte beat filed a lawsuit against the U.S. government.
But this is more interpreted by the outside world as expressing the company’s position on byte skipping. Three days later, the news that tiktok had completed the sale within 48 hours became more of a black humor than a byte beating lawsuit against the U.S. government.
Tiktok’s monthly live data for the U.S. market are listed in the lawsuit:
In January 2018, tiktok’s monthly living population was 11.26 million, and by the latest August this year, it is expected to exceed 100 million.
It is a pity for anyone to lose such a high consumption power market cultivated from scratch.
In June of this year, byte beat recruited Kevin Mayer, then senior vice president and Chief Strategic Officer of Disney.
At that time, byte beat was facing a national security review by the US Council on foreign investment (CFIUS). Zhang Yiming paid a high salary to hire a professional manager like Kevin Mayer to act as the external spokesman of tiktok America, responsible for dealing with the U.S. government and solving the unnecessary review of the U.S. government.
However, with Mayer resigning as CEO of tiktok, it is too late for Zhang Yiming and byte skipping to mend the gap.
Domestic public opinion is impossible to reverse, hate byte beat sound more and more.
In foreign countries, tiktok is still negotiating with Microsoft / Wal Mart / oracle. It is difficult to determine the final buyer, but it is likely that the price will be lowered by American companies.
With 48 hours to go, will Zhang Yiming miss and admire his international self in his apartment in Jinqiu home in 2012? Or would he think that if time could be renewed, he would discuss with investors more carefully before making a decision on the next step, instead of hastily starting the negotiations with American enterprises that were doomed to fail?