Business splits are sold, everyone is in the throes of transition

November 21 According to media reports, the company announced today that the third quarter ended September 30, 2014 without the audit financial report. According to relevant data, everyone's net operating income in the third quarter was $21.6 million, down 47.4% from the same period in 2013, and a net loss of $38.1 million and a net loss of $24.6 million for the same period in 2013. For such a group of data, I believe many people have been "tired feeling no Love", once a hot moment of everyone started their own "desperate"?

According to the financial report, the results of the third quarter of 2014 were as follows: Net operating income was $21.6 million, down 47.4% from the same period in 2013. Net operating income for everyone's business was $13.5 million, down 34.5% from the same period in 2013. The net operating income of the game business was $8.1 million, down 60.5% from the same period in 2013. Gross profit in the third quarter was $5.5 million, down 77% from the same period in 2013. Operating loss of 95.7 million U.S. dollars, the same period in 2013 operating loss of 24.7 million U.S. dollars. The net loss for everyone in the third quarter was $38.1 million, with a net loss of $24.6 million in 2013. Not in accordance with the United States General accounting standards (excluding equity incentive expenses, intangible assets amortization expenses and intangible asset impairment expenses), the third quarter of everyone company adjusted net profit of 29.3 million U.S. dollars, the same period last year adjusted net loss of 19.7 million U.S. dollars.

In the face of such bad results and disappointing earnings, Chen, chairman and chief executive of the company, still hopes to inspire employees with warm words: "We continue our strategy to focus on core business and core user groups in this quarter." Recently we sold 56 web video business and further streamlined the game's organizational structure. At the same time, we launched the "Everyone in stages", a special for college students to provide a new service platform for phased shopping, which is also our strengthening of the core users of Renren services and explore new patterns of change. Everyone company is undergoing transformation, although not easy, but we have confidence and perseverance. Through a positive transition, we will continue to strive to create long-term value for our shareholders. ”

Do not know such encouragement, is to encourage staff to work hard, or to give investors to eat a reassuring?

1, the early development of Renren, Chen a boat capacity is beyond doubt.

Many people first contact Renren (early school Network), are through the invitation between students. Through Renren also found a lot of university, high school, junior high school, even primary school students. Many years have not seen, everyone through the network of social networking platform again contact, that joy is self-evident. It is said that there are many students through Renren network to find old classmate, began a nostalgic "passion burning years." Like social network Facebook in the United States, Renren initially opened a window of the Chinese social networking platform with its peers, and the number and activity of users continued to surge, with products such as Renren and Renren showing huge platform values and advantages, Chen's ability and foresight were seen as unquestionable at the time.

When American social-networking Facebook is leading the world, I don't know what it feels like to build a "Chinese Facebook" Renren?

2, the business split is sold, everyone transition pains.

With the continuous development of Renren, only to earn the students ' money can not meet the company's revenue budget, so the subway and video sites began to appear in the network net of people Web ads, Renren also from the original earned the money of students to later earn everyone's money. At the same time, everyone game, glutinous rice net, 56 nets, Jingwei business card pass and other major products become the foundation of all companies. During that period, social, gaming, group buying, video, mobile social became the main business, everyone wants to take advantage of the platform of Social network, quickly to the mobile internet age to do the transition, and to get through a part of their own industrial chain road. But in the end, everyone game off the market to become a bubble, glutinous rice net sold to Baidu, 56 net is to become Sohu wedding clothes, such as the mobile internet era of business card Qualcomm products have gradually withdrawn from the stage of history.

The mobile internet era has made many platform-level Internet company products and given many opportunities for vertical entrepreneurs, but there is no place for everyone.

3, everyone has a serious internal friction, social networking is good but everyone is not good.

Chen's first strategy for everyone was appropriate to meet the needs of that time. However, any big internet company has a good strategy, and if it is ineffective, it will be hard to be distracted by internal friction. In June 2014, the Director of strategic development of everyone's company proposed to leave the job, which caused media attention. The continued volatility of management, the continued decline in earnings, and the departure of key members have also been a growing dilemma for everyone. Just imagine, the internal friction is so serious, how can the company's earnings performance? With Sina Weibo exerting the news hotspot, spreading the power, Tencent Micro-letter Beach Mobile Communication, continuous expansion of influence, a variety of vertical niche app on the social network constantly eroded, Renren did not take the initiative, the contrary adopted a follow strategy The direct result is that the opportunity goes on and on. In the fast, ruthless, quasi-motto of the Internet market, everyone's follow strategy and slow implementation of the performance is obviously not a good job, social networks are favored by the people, but everyone is not well.

If everyone had a chance to hit the road in a social network, but only to end up with earnings, does that mean the end of everyone's life has begun?