You are ugly, you sleep first, I am beautiful and I live-Yingke's advertising words are like Phoenix Legend's brainwashing divine comedy, which has washed the brain of private placement for a whole year. However, this year, private investors gave Yingke a free upgrade of their new advertising words: You are ugly, you sleep first, I am beautiful and I "sell myself". On May 10, Xuan Ya International, a A-share listed company, announced that it would carry out major asset restructuring. The underlying asset is Beijing Mi Le Wood Network Technology Co., Ltd., the main operating company of the live broadcast platform Yingke, and it is estimated that it has no less than 50% equity. Before the suspension, the market value of Xuan Ya International was 7.2 billion yuan. According to preliminary discussions between Xuan Ya International and relevant parties, the main counterparties of this restructuring include the founder shareholders, employee stock ownership platform and institutional investors of the target company. The controlling shareholder of the company holds 0.7423% of the shares of the target company. As of the date of this announcement, the final counterparty and the proportion of shares to be transferred separately have not been finalized. 2065438+In March 2005, Yingke received an angel investment of 5 million yuan from Domi Music at the beginning of its establishment. In June of the same year, 5438+065438+ 10, Yingke once again received tens of millions of A+ rounds of investment from Safran Fund, Jinshajiang Venture Capital and Zihui Venture Capital. In February of the same year, 65438+ won the A+ round investment of RMB 80 million led by Kunlun Wanwei. On October 4th, 2065438+ 16/kloc-0, Kunlun Wan Wei entered and invested 68 million yuan to acquire 18% equity. Subsequently, Kunlun Wan Wei transferred the entire equity of Yingke to Kunnuo Win Exhibition, a wholly-owned subsidiary; In September, Kunlun Wan Wei announced that it planned to sell its 3% stake in Yingke at a price of 2 1 100 million yuan. Based on this, it can be estimated that Yingke's valuation at that time was around 7 billion yuan, and it has entered the ranks of unicorns. Why did Yingke suddenly sell the unicorn aura with a valuation of 7 billion to an A-share public relations company? Judging from the founder's mood and control, how can the founder of Yingke give up? After the rise of the live broadcast wind, Yingke held high all the way and invited a group of star big coffees to do live broadcast. The slogan "You are ugly, you sleep first, I am beautiful and I live" can also be seen that Yingke was the first among more than 80 live apps at that time. Some people in the marketing industry revealed to Xiaoyu that before the social software was "launched", 12 stars were invited to speak for it and make video advertisements in company buildings in first-tier cities. The market price in one quarter was 450 million, and the actual investment reached 65.438+0.2 billion. Taking this as a reference, the high market investment of Yingke in that year can be imagined. But the problem is that Yingke's investment in these costs does not have enough income support. According to the monitoring of blue lagoon Capital, Yingke can't control the supply end of the head anchor, and the traffic drops obviously, and the Baidu index plummets by 70%. Entertainment Capital reported that a person in the live broadcast industry speculated that Yingke might have a certain funding gap. The early cost is high, the actual traffic drops in the later period, the user's willingness to pay is low, and there is too much blood loss. The person said: "The live broadcast must have hematopoietic capacity, otherwise, if you don't get the money, it will be fatal." Some insiders pointed out: "Few capitals are willing to continue to invest more money in mobile live broadcasts that can't tell more stories. Listing for secondary market financing has become the best choice for Yingke. "