Sihai network

Kwai's wholly owned acquisition of A station official undisclosed deal details

Original title: Kwai takeover A station A station will maintain independent brand to maintain independent operation.

According to the early June 5th news, Kwai Chun confirmed that it has completed the overall acquisition of Acfun. In the future, A station will maintain its independent brand, maintain its independent operation, maintain its original team and develop independently. The Kwai will also give A station strong support in capital, resources and technology.

It can be found from the enterprise credit information publicity system that at the end of February this year, there were two stock pledge records involving Beijing saris Dynamic Culture Communication Co., Ltd. Kwai Kwai, who launched the 2560 technology of Beijing Entertainment Technology Co., Ltd., was sent to Beijing fast Tech Company Limited in February 27th. In March 6th, Guangzhou bullet screen comments Co., Ltd. (A station's main operator) gave out a quick share of the interest.

Cyrus is currently controlled by Guangzhou bullet screen Network Technology Co., Ltd. its original founder is sun min, the former founder and CEO of Acfun. Now it has left Cyrus. In July last year, its legal person was changed to Liu Yanyan, the current CEO of station a.

Station a has experienced frequent personnel changes before. The Chinese mainland A station was founded in June 2007, and is intended to be Anime Comic Fun. It is the first bullet screen comments website in mainland China. In August 2015, station a announced that it had obtained US $50 million in round a financing from Youku Tudou. Before that, Youku Tudou had sued station a for infringement.

One year later, in November 2016, station a announced that it had obtained the Chinese online investment of A-share listed company. Chinese online planned to invest 250 million yuan in cash to subscribe for 13.51% of its shares. The post investment valuation of station a reached 1.85 billion yuan.

According to the announcement at that time, Cai Dongqing, President of aofei entertainment, was still the largest shareholder of a station after Chinese online became a shareholder, and the shareholding ratio dropped to 54.77%. The shareholding ratio of Tudou culture, the former second largest shareholder, dropped to 13.23%, and Chinese online reached 13.51%. It surpassed Tudou culture to become the second largest shareholder of a station. The shareholding ratio of Mao Zhihai, chief financial officer of a station, dropped to 2.21%, and Liu Yanyan, chief executive officer of a station, held shares To 1.47%.

The announcement also disclosed the financial situation of station A. in 2015, the operating revenue of station a was about 3.63 million yuan, with a net loss of 113 million yuan. In the first nine months of 2016, the operating revenue of station a was about 710000 yuan, with a net loss of 146 million yuan, with a significant increase in net loss. According to this calculation, the 250 million yuan invested by Chinese online can only help a station maintain for one year.

In addition to performance pressure, a station also experienced several internal executive rotation. In 2010, the founder of station a sold station a to current Betta CEO Chen Shaojie for 4 million yuan. Later, there was a conflict with the capital side. The game barrage product "Shengfang" was independent, that is, the later Betta. Station a was later sold to Yang Xinmiao.

In 2014, aofei animation invested in station a and parachuted its executives. Meanwhile, Youku formally sued station a for infringement. The new executives attributed the infringement to the original executives of station a, and several former executives were arrested. Subsequently, a station staff revealed that the original technical team had basically all left because of the mandatory handover agreement, and so did the editing team.

By June 2015, when station a was invested by Youku Tudou, its CEO was Sun min. In January 2016, after station a obtained $60 million investment from Softbank China, Mo ran replaced sun min as CEO.

Half a year later, in July 2016, Mo ran decided to resign for personal reasons. Li Bin, chief strategy officer of aofei entertainment, took over the post of chairman, and Liu Yanyan, former editor in chief of station a, took over the post of CEO.