"Who knows what this 'Parking Space Scramble' is all about?"
"I saw it too, the first prize is actually 10 years of usage rights for a Peugeot 206."
"Why usage rights and not ownership?"
"Idiot, it's to prevent you from reselling or mortgaging it, and it helps you avoid taxes."
"What happens after the ten years are up?"
"They'll definitely give it to you then, after all, it won't be worth much in ten years, and besides, Renren.com might not even exist anymore."
"Not necessarily. Look at how popular Renren.com is now; two foreign bloggers I followed recently joined."
"We must participate in the Parking Space Scramble. It's all for fun anyway, and we can win prizes. Why not?"
Yes, the Parking Space Scramble was just like the "Fight the Landlord" tournament in QQ Games; it was all for fun, and there were prizes to be won, so why not participate?
Most people, holding this thought, flocked to the temporary competition server opened by Renren.com.
Although relatively sufficient preparations were made, Miao Bingwei's technical department still misjudged the players' enthusiasm and couldn't cope.
The competition soon caused lag and almost crashed the server.
For this, Miao Bingwei raged at the meeting.
Meanwhile, Renren.com's publicity department released press releases on numerous gaming and automotive websites.
Such as 4399 Games, Yazhu, PCauto, and Autohome.
"Scrambling for a 'parking space' to get a real car, watching SNS development with a smile."
"Win a Peugeot 206 in Parking Space Scramble, Renren.com games show innovation."
"Renren.com's 'Parking Space Scramble' continues to heat up."
The titles differed, but the content was roughly similar, all using the "Parking Space Scramble" as an entry point, focusing on introducing Renren.com and the social game "Renren Parking Space Scramble."
The end of the article explicitly stated: "For more information, please visit
......
Shen Nanpeng slapped the newspaper in his hand on the table and said with a smile to the two Sequoia China partners present,
"Chen Pingjiang isn't old, but he has a lot of tricks up his sleeve. The launch of a social game was already impressive, but he then organized a Parking Space Scramble, sent out a large number of press releases, and even bought ad space in Beijing newspapers."
Zhang Fan said with a smile,
"At least what he did was very successful. It completely captivated the public's attention and became the 'darling' of users for a while."
Zhou Kui, who was about to be promoted to the first partner besides the founder, also said,
"Chen Pingjiang has consistently not opened a financing window. It's clear he's waiting for this series of operations to increase valuation and gain more leverage in negotiations."
Shen Nanpeng nodded,
"Clearly, time is on his side. Now, all VC/PE firms are more anxious than he is, fearing that Renren.com's valuation might increase by tens of millions overnight. Everyone has seen Facebook's success, and no one is willing to retreat a single step in this feast of capital."
As one of the designated 'tool-men' in many transmigration novels of later generations, Shen Nanpeng naturally had formidable capital.
Some called him "China's Warren Buffett."
Meituan, Didi, Pinduoduo, Ele.me, Gaode – his presence was everywhere.
He was reputed to have "conquered half the internet," so his influence was immense.
The absolute king of venture capital; if Tencent wanted to invest in a project, Sequoia would have already decided to get involved one or two years in advance.
He successfully founded Ctrip and Home Inn, and successfully brought them public.
Shen Nanpeng sighed with emotion,
"When I received the background check, I was startled. This Chen Pingjiang was only nineteen years old; I even suspected the information was wrong. Now, not only have I not dismissed it, but I'm even more curious about him.
This young man is frighteningly composed. An ordinary entrepreneur would have long since rushed to meet various investment firms, but he seems to have calculated that the situation would unfold as he wished, sitting calmly by the fishing pond."
Zhang Fan recalled the background check information he had seen some time ago and nodded in agreement,
"I'm very curious about him now. To be honest, just because of him, Renren.com is worth investing in. Not only that, I'm also very interested in his other companies, whether it's Renren Waimai or Miaochai projects. It's precisely because these two projects continuously provide funding that Chen Pingjiang has the confidence to bide his time and await a better price."
"As for Renren Waimai, as long as the delivery capacity issue is resolved, users' consumption habits can easily be cultivated, and this market is terrifyingly large, capable of creating a massive number of jobs."
Zhou Kui nodded,
"I specifically researched the food delivery project and can see that Chen Pingjiang has shown great restraint in the development of Renren Waimai, not developing it blindly. Perhaps it's due to lack of funds, or perhaps he feels the timing isn't yet mature."
Shen Nanpeng brought the topic back to Renren.com, asking,
"Gentlemen, with Renren.com currently holding out for a better price, what breakthrough strategies do we have to secure this ticket? I'm genuinely worried that as time goes on, we'll have to pay several times more money to acquire the same shares.
Facebook's valuation increased 27 times in one year, an average of 2 times per month. If Renren.com drags it out for 2-3 months, at its current momentum, the number of registered users could even exceed 5 million, at which point our costs will be much higher, and the risks greater."
"But we can't force a bull to drink water!"
Zhang Fan spread his hands,
"I actually really dislike this kind of passive situation. As VCs, we're usually spoiled by entrepreneurs holding project proposals, this is the first time we've encountered a situation where we can't find the person or get in the door."
"But we really can't wait any longer. I suggest we just increase the valuation to negotiate."
Zhou Kui nodded in agreement,
"I think that's fine. Also, I observed that Renren.com's founding team generally has a Dongjiang University of Finance and Economics background. Chen Pingjiang must be very short on professional, experienced executives, and we can use this as an entry point for negotiations."
Upon hearing this, Shen Nanpeng's eyes lit up, and he patted Zhou Kui's shoulder affirmingly,
"That's a good idea."
......
Gong Kaijie, the legendary "leek" of China's A-share market – oh, no.
He should be called the "God of Songs in the Stock Market."
He loved playing games and trading stocks.
In the evening, Gong Kaijie was hunched over his computer, intently watching the news on the monitor.
"'Parking Space' game is a mini-game developed after Renren.com's open platform. For users, such a game is actually a supplementary product to reality. It greatly releases work pressure, social pressure, and group pressure in real life, especially in white-collar life.
On the surface, it fulfills players' dream of owning a luxury car, but in reality, players gain the joy of communicating and entertaining with friends through the game."
A Renren market representative stated:
"Our 'Parking Space Scramble' competition offers 10 years of usage rights for a Dongfeng Peugeot 206 as the first prize, hoping to bring all 'Parking Space' players one step closer to their dream of 'driving a luxury car.'
At the same time, this is not just an entertainment activity; we hope to provide rewards to users so that everyone can gain more while having fun."
This news made Gong Kaijie find Renren.com, which had suddenly appeared, a bit interesting.
After browsing various pages on Renren.com, Gong Kaijie's eyes lit up when he saw a section called "Grand Era."
Clicking in, it was exactly as he expected: this section was entirely populated by stock investors, making Gong Kaijie feel like he had found his base.
The lively scene in the "Grand Era" section mirrored the Shanghai Composite Index in the first half of this year.
"All my coffin money and secret stash have been taken out. I'm rushing into the market tomorrow."
"Haha, only your coffin money? I've mortgaged my house. If it doesn't double, I won't sell."
"Are there any big shots who can give some guidance?"
"QQ group: XXXXXX, with stock analysis, all kinds of expert retail investors."
"..."
In the past few months of 2007, the Shanghai Composite Index rocketed from a low of 2715, with over 300,000 retail investors entering the market every day.
This led to Baidu's "Top 10 What Is" list having "What is a fund" as number one and "What is a warrant" as number two; in the "Top 10 How To" list, people were asking how to trade stocks, how to manage finances, and how to make money.
At that time, China could be described as "everyone trading stocks," and stocks became the hottest topic among ordinary people.
As a seasoned stock investor, Gong Kaijie naturally earned a considerable income in this market boom.
His recent life had clearly become much more comfortable; he couldn't eat a meal without four dishes and a soup.
After browsing a few posts, Gong Kaijie had a flash of inspiration.
Hearing "Died to Love" playing in his headphones, an idea sparked.
"Bought stocks as an investment
Never fearing a rise or fall
Ignoring whether the market is bullish or bearish
I'll only sell when it doubles
I don't listen to others' arrangements
Buying based on feeling, making money makes me happy
Enjoy the present, don't fear failure if you're trapped
Many miracles forever exist in China's stock market
Dying not to sell
Not doubling my money, I'm unhappy
Only then can we retail investors not be defeated
..."
It was as if his thoughts flowed like a spring, and his writing was divinely inspired.
With a clatter of keyboard sounds, Gong Kaijie, using the lyrics format of "Died to Love," wrote the stock song "Dying Not to Sell."
After finishing, Gong Kaijie was extremely satisfied.
He quickly recorded it and uploaded it to Renren.com.
Initially, Gong Kaijie considered this song merely a product for his own amusement, but unexpectedly, it became bizarrely popular within just an hour.
The comments section below the post was packed with messages.
"Brother, the lyrics are brilliantly revised; they speak to everyone's heart, and the singing is not bad."
"Awesome! Definitely the 'First Song of China's Stock Investors'."
"Dying not to sell, not doubling my money, I'm unhappy!"
"I suggest the OP record it in a more professional studio later."
"Brothers, this is our battle anthem. Wishing China's A-share market a continuous rise tomorrow."
"I need to share this with other stock forums and let them hear it."
"..."
An adapted stock song, somewhat crudely produced, became popular against the backdrop of the massive bull market in the first half of 2007.
This was an inevitable product of the times.
What everyone, including the creator Gong Kaijie himself, didn't expect was that "Dying Not to Sell" became massively popular in just a few days.
This also turned Renren.com's "Grand Era" section into a holy land in the hearts of countless stock investors.
(End of Chapter)
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