After the 28 yuan process, he left the market sadly. Prior to this, on July 28, 2019, Feng Xin, the actual controller of the Storm Group, had been arrested on suspicion of bribery to non-state personnel.
Feng Xin and Jia Yueting are of course very different, but they are also quite similar: they are also from Shanxi, they also started in video, they also use Internet TV as a new business support, and they have also played the banner of “being ecological”. , I also tasted the sweetness of the A-share bull market. The biggest difference is that Feng Xin followed Jia Yueting’s path and expanded ambitiously everywhere, eventually bringing the company into an endless quagmire.
Jia Yueting seems to have grabbed the straw that came ashore, but Feng Xin, who is behind bars, is unable to return to heaven. I don’t know how Feng Xin would feel when he heard Jia Yueting’s magical reversal in prison at this moment.
01
Brilliant does not live up to its name
The writer Shi Tiesheng has a sentence in his prose “I and the Temple of Earth”. Heike Caijing believes that it is actually applicable to the storm group when the fire is cooking oil—”When the morning glory first blooms, the funeral horn Already blew.”
In March 2015, Feng Xin brought his 200 million monthly active users to A shares, and Baofeng Technology landed on the entrepreneurial version. In just over a month, Baofeng’s stock price surged from 7.14 yuan to 278 yuan. As of May 18 of the same year, after 36 daily limits, the market value of Stormwind reached 29.8 billion yuan. Almost overnight, 10 billionaires, 31 millionaires and 66 millionaires were born within the storm.
At that time, Feng Xin, in the face of the media’s high profile, announced the transformation of the storm-the enterprise will be transformed from the original online video company to the Internet entertainment platform of the DT era.
For this day, Feng Xin waited a long time.
Feng Xin and the storm were formed in 2007. With IDG’s investment of 3 million US dollars, Feng Xin successfully acquired Baofeng video player software, established Beijing Baofeng Internet Technology Co., Ltd., and embarked on his own storm journey.
Jia Yueting’s LeTV was established in 2004 three years earlier. Six years later, on August 12, 2010, LeTV, which is not so powerful, took advantage of the GEM and successfully went public. After that, its stock price continued to rise. By 2015, the market value of LeTV had reached a peak of 170 billion yuan, and it was a glorious moment.
In contrast, Feng Xin and Baofeng walked tremblingly: their listing in the United States failed, A-share listing was frustrated, and they experienced a long process of IPO suspension, restart, and queuing, and withstood the huge pressure of selling Ali, Feng Xin Finally, we are looking forward to 2015 when the A-share bull market is soaring and the Internet bubble is at its peak. The bizarre market environment made Storm Carp leap over the dragon gate, creating many myths once it went public.
2015 is a lucky year for Feng Xin and Baofeng. Before that, Feng Xin