Reaching the age of thirty, my income randomly doubled

Chapter 708: Chapter 516 Merge Merge Merge

Gao Hu’s situation.

Chang Fu was still paying attention.

After he left Fei Yangyang, he started his own Chef Gao’s restaurant chain enterprise.

It began with a fierce momentum, and he himself invested two billion yuan.

Later, he also poached a large batch of store managers and chefs from Fei Yangyang, aggressively pushing forward for more than half a year.

Various problems also emerged.

Firstly, Gao Hu, as usual, could not control his desires and not only liked playing with outside young models.

He also did not spare the attractive female waitresses in his restaurant.

The consequences brought by this type of behavior were undoubtedly disastrous.

The senior management below him followed his example; hardly anyone was faithful.

Speaking of these issues, they might just be moral failings personally, but his continuous deduction of wages was truly fatal.

Fei Yangyang’s stock was very low, primarily because the employees’ salaries were too high.

It can be stated without hesitation that there is no other place in the industry where the chefs and waitresses earn more than at Fei Yangyang.

Those he poached soon realized their incomes were not even half of what they made at Fei Yangyang, which certainly didn’t make them happy.

What they ended up with was miles away from what Gao Hu initially promised.

Unfortunately, even if Gao Hu wanted to offer higher salaries, those who invested in him would not agree.

Moreover, he simply did not have the capability to provide high incomes.

After departing from Chen Pingsheng, Gao Hu faced opposition on all fronts and deeply felt the difficulties of managing a large company, never regaining his initial vigor.

Now, with Xiao Danchun seeking a divorce from him, he could only helplessly agree.

Among the once “Four Brothers” – he, Chang Fu, Zhang Tao, and Chen Pingsheng.

He was the only one who left Tengying Group, whereas the rest including Gao Hu and Zhang Tao were living quite comfortably.

They’ve all become top bosses in their own right, while he fell into an uncertain and precarious state.

This is truly needless trouble!

Chen Pingsheng did not intervene; after Chu Qiuyan came to Guangdong with the Dream Fund, she brought significant positive changes here.

She first reorganized the now individually developed twelve small chain fast food restaurants, categorizing them into four different brands based on Hunan-style, Guangdong-style, steamed, and noodle-based for unified and independent management.

Following this merger into four major brands, they each secured over fifty million yuan in Series C funding.

To expand across major cities nationwide.

In simple terms, this involved consolidating the dispersed culinary investments by type.

Then securing even larger funds, allowing the four brands to independently expand nationwide.

It’s uncertain who will take the lead first, but surely one or two will emerge in the future.

Not only was there a major consolidation in the dining sector, but retail was the same.

Anything beneficial for the overall development direction, Chu Qiuyan would merge and merge.

Then reallocating funds from the large group to support these growth projects.

After all, she had the entrepreneurial experience with Bobo Milk Tea and was uniquely experienced in driving the company towards public listing.

Not just the Dream Fund was developing rapidly, but Teng You Media was the same.

After absorbing Clothes Warehouse No. 9 and Tenghui Department Store, which included over a hundred supermarkets, Teng You Media became the first mega-enterprise in the industry combining short-video online celebrity economy with physical retail trading.

On January 2, 2019, Teng You Media officially held a press conference.

Announcing its eighty billion valuation plans to complete IPO funding by the end of February this year.

The funding target for this round was as high as 32 billion, which means planning to dilute 40% of its shares.

As the news broke out, the entire internet celebrity circle was in uproar, while others were still growing wildly.

Chen Pingsheng’s investment in Xin Teng Live Streaming including the current Teng You Media had already become the capital harvester of the whole industry.

Not only deeply bundling short video APPs but also developing a team of over one hundred thousand internet celebrity hosts.

It can be said that out of the countless internet celebrities, Teng You Media accounts for half.

The big corporations were just preparing to enter the market, and his side had already developed into a behemoth.

Whether you like it or not, the new era has quietly arrived.

The most direct response is that on the internet, BAT are no longer the overlords, but TikTok under ByteDance has become the favorite short video APP among young people.

An eighty billion valuation might seem a lot, but given its scale, it is entirely possible.

In the next two months, the lovely CEO Zhang Wanyi will represent Teng You Media in business talks around the country.

Mainly to facilitate the smooth completion of Teng You Media’s IP0 by the end of February.

And Chen Pingsheng himself will also meet some big names in Guangdong, where the previously invested two billion to build an internet celebrity live streaming base, and the building is still under construction.

In the future, it will definitely drive the city of Guangzhou, the foreign trade capital, even further through massive live streaming sales by internet celebrities.

When the trend arrives, either you run with it or you are eliminated by the times.

Clearly, Chen Pingsheng is the former.

He started investing in short videos three years early, and now it is finally bearing fruit.

It can only be said that everything is fated.

Chen Pingsheng stayed here for two days, only returning to Magic City on his private plane with Song Yanxi and others after New Year’s Day.

Zhang Wanyi along with other executives from Teng You Media also proposed to him to sell Tengying Art School under Tengying Entertainment to Teng You Media.

The main benefit is to improve the foundational training of internet celebrities.

Seriously speaking, the overall quality of internet celebrities in this industry does not match their current earnings.

Zhang Wanyi wants to take over Tengying Art School and turn it into an internet celebrity training base.

This is much easier than training stars; Tengying Art School has been operating for two to three years and hasn’t produced any star of substance.

Instead, it has produced countless fairly good minor internet celebrities.

Chen Pingsheng thought it over and agreed; Tengying Huadu Art School was also initially set up by him with over three billion investment.

Now selling it to Teng You Media, they definitely won’t lose money.

It’s still good by a three billion standard.

A top private art school on nearly a thousand acres of land thus became the new era’s internet celebrity training base.

Chen Pingsheng’s initial idea might have been excellent, relying on the art school to cultivate more talents like Wang Baoqiang, Zhao Liying into the industry.

Three years later, the result can only be said to be unsatisfactory.

If not for Tengying Entertainment swiftly shifting focus, wanting to maintain a market value of over one hundred and fifty billion through making movies and TV shows would have been impossible.

After operating Tengying Art School for three years, its only contribution was producing nearly a thousand minor internet celebrities each year.

If not for this, it would have been a total loss.

Selling it to specifically focus on internet celebrity training is good, especially since Teng You Media isn’t particularly short on cash now.

Paying 1.5 billion in cash upfront, with the remaining 1.5 billion to be paid by the end of 2019.

Buying and selling within the company, negotiations are always smoother.

It can only be said that Tengying Art School is still of great significance to Teng You Media, but for Tengying Entertainment, it has always been a major burden.

Chang Fu had wanted to offload this burden for a long time.

Just couldn’t find a suitable sucker, and now Teng You taking over is the best outcome.