24-Coupon CEO confrontation with Capital Square: Capital Hungry game or staged

Capital hunger game staged again?

Du Yinan, may become another in the capital "Hunger Game", the gradual edge of the group buying network entrepreneurs.

Recently, the 24-coupon CEO Du Yinan and his investor Malaysia success group tore the face, the two sides you come to me, sent 4 mass mail for mutual exclusion. and 24 coupons of 300 employees, after seeing these emails, then a blank face. They do not know whether to believe the founder and CEO, or to believe that the former private deduction of 2 million yuan investors, or choose to leave this piece of the lake and the land.

Du Yinan and the investor Malaysia Success group represent KK's mail mutex, which erupted last weekend.

First of all, KK against the Du Yinan. According to Du Yinan described, KK in Du Yinan to the United States during the financing, in the company spread Du Yinan private buckle Company 2 million yuan for its use of rumors, and to a number of employees spread Du Yinan will give up 24 coupons message. These rumours and KK's practices make Du Yinan difficult to endure.

According to Du Yinan's statement, the successful group is 24 coupons of a round of investors, and KK is a successful group to infiltrate 24 coupons "undercover." At the beginning of this year, 24 coupons on the verge of collapse, the successful group has indicated that they are willing to continue to support 24 coupons, but before the arrival of a new round of funds, 24 coupons must accept KK as COO to replace founder Penre and part of the decision to lay off staff. and KK together to 24 tickets to take office, there are new financial officer yellow.

is believed to be framed by the Du Yinan, immediately in the mail began to question KK and its representatives of the investor motives, and in the Mail announced the lifting of KK and yellow job.

Why is the relationship with a successful group broken? Du Yinan told the first financial daily that 2 months ago, the success of the group because of the financial crisis, and the originator of Groupon stock price depressed, successful group said no longer continue to inject capital, leading to the original negotiations with other investors, because the successful group of the cold exit, also terminated with the investment plan. Recently, due to the improvement of the 24 voucher business situation, there have been new strategic investors expressed a willingness to settle in, the successful group in the news, immediately said to talk about conditions, but asked 24 voucher founder and management team share ratio from 40% to 3%.

Du Yinan that this is a successful investor group "occasion blackmail" behavior, 24 voucher management naturally unacceptable. And the so-called misappropriation of the company 2 million Yuan said, Du Yinan explained that 2 million is 24 coupons guarantee, also has not left the company account, and without this guarantee, the success of the group will not be with 24 voucher management sitting on a negotiating table.

Du Yinan told reporters that the successful group had planned to set up a new company outside 24 coupons, thereby abandoning the obligation to repay 24 coupons owed to the merchant, and to expel the 24 voucher founder.

But the KK side denies part of the story. KK said in the mail, September 6, the company's financial Du Yinan for 1.9 million yuan wages and 300,000 yuan business loans, but has not received Du Yinan reply, and refers to the Du Yinan seizure of 2 million "protection" is actually the investor to protect the team wages and business loans to provide policy liquidity.

In addition, KK accused Du Yinan of not unilaterally lifting its own and related colleagues, and said that this behavior also makes Du Yinan lost the opportunity to communicate with investors.

At present, 24 coupons have been accumulated financing of 50 million U.S. dollars, except for the previous tens of millions of yuan supplier accounts, 24 coupons monthly loss of hundreds of thousands of, is close to break-even. Du Yinan said that the development of group buying is still dependent on capital support, but now 24 coupons have fallen into either starve to death, or the management of the dilution of equity, to escape the dilemma of working for the capital side. And just one months ago, when the founder of the Wu resigned as CEO, Du Yinan also expressed to reporters that entrepreneurs need to share the determination of the investment side.

Group 800 founder Hu Chen said that as of July this year, the number of domestic group buy 2,976, compared to the peak of September last year, 5,058 have shrunk by nearly half, most of them because of the industry reshuffle and the management to stop capital injection exit.

Du Yinan told reporters that if a successful group does not change the negotiating conditions for a large proportion of the founding team, he will have another plan with the new investor. This situation is very similar to the group Treasure net, before, because the group treasure net in the introduction of new investors, the old shareholders and management involved a high amount of convertible bonds, the group Treasure Net announced bankruptcy, and with new investors set up a new company.